Axcelis Technologies (ACLS) Cash Flow: Operating & Free Cash Flow

Axcelis Technologies Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Axcelis Technologies, Inc. (ACLS) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	120.24	200.99	246.26	183.08	98.65	49.98	17.03	45.89	126.96
Depreciation & Amortization	17.61	15.81	13.07	11.61	10.82	9.94	7.88	5.77	5.00
Deferred Income Tax	0.00	-15.59	-20.02	8.54	20.26	4.69	3.30	11.21	-82.09
Stock Based Compensation	20.77	20.95	18.27	13.44	12.07	10.49	8.17	7.78	5.67
Change in Working Capital	-30.86	-85.40	-97.23	-11.61	4.64	-8.92	-53.60	-25.89	8.87
Change in Accounts Receivable	37.43	6.91	-50.76	-67.27	-18.15	-1.39	-6.00	-3.88	-23.57
Change in Inventory	-42.22	5.92	-69.96	-58.43	-39.02	-17.65	-17.95	-10.51	5.70
Change in Accounts Payable	6.19	-0.41	-4.32	31.39	22.05	18.06	-19.15	-0.70	25.00
Change in Other Working Capital	-15.73	-97.82	-28.38	82.70	-5.87	-7.93	-10.49	-10.80	1.74
Other Operating Activities	-9.46	4.06	-23.50	10.55	24.01	3.53	3.61	2.21	-8.14
Net Cash from Operating Activities	118.31	140.82	156.87	215.61	150.19	69.70	-13.59	46.97	56.28
Investing Activities
Capital Expenditures	-11.30	-12.18	-20.66	-10.68	-8.72	-7.43	-11.97	-4.72	-7.29
Acquisitions	0.00	0.00	0.00	0.00	0.00	0.17	0.00	0.00	0.00
Purchases of Investments	-646.00	-539.12	-388.81	-246.57	0.00	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	687.22	442.58	308.61	0.00	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	41.22	0.00	0.00	0.00	0.00	0.00	0.00	-4.72	0.00
Net Cash from Investing Activities	29.93	-108.73	-100.86	-257.25	-8.72	-7.27	-11.97	-4.72	-7.29
Financing Activities
Debt Repayment	-1.36	-1.53	-1.24	-0.99	-0.76	-0.40	0.00	0.00	0.00
Common Stock Issued	2.46	0.00	2.08	0.00	4.87	0.00	0.00	2.61	16.25
Common Stock Repurchased	-125.60	-60.49	-52.50	-57.50	-56.56	-7.50	-17.74	0.00	0.00
Other Financing Activities	-4.51	-9.18	-16.61	-7.00	-6.56	5.51	4.34	1.19	15.07
Net Cash from Financing Activities	-124.49	-71.19	-68.27	-65.48	-52.45	-2.39	-13.41	1.19	15.07
Summary
Effect of Forex Changes on Cash	1.28	-3.79	-0.14	-2.21	2.43	-2.35	0.60	0.59	-0.84
Net Change in Cash	25.01	-42.89	-12.40	-109.33	91.45	57.70	-38.37	44.02	63.23
Cash at Beginning of Period	123.51	173.95	186.35	295.68	204.23	146.53	184.90	140.88	77.66
Cash at End of Period	145.45	131.06	173.95	186.35	295.68	204.23	146.53	184.90	140.88
Free Cash Flow	107.01	128.64	136.21	204.92	141.47	62.27	-25.56	42.25	49.00
Supplemental Disclosures
Interest Paid	-	4.73	4.87	4.99	5.09	-	-	-	-
Income Taxes Paid	-	61.13	54.22	10.76	1.50	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Axcelis Technologies Cash Flow

What is Axcelis Technologies's free cash flow?

Axcelis Technologies generated free cash flow of $107.01M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $118.31M minus $11.29M of capital expenditures. That was down 16.8% from $128.64M a year earlier. Free cash flow equaled 12.8% of revenue.

How much does Axcelis Technologies spend on capital expenditures?

Axcelis Technologies spent $11.29M on capital expenditures in fiscal 2025, compared with $12.18M a year earlier. That equals 9.5% of operating cash flow.

Does Axcelis Technologies pay dividends or buy back shares?

Yes. In fiscal 2025 Axcelis Technologies returned $125.59M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition