Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue.
Axcelis Technologies's Degree of Operating Leverage for the quarter that ended in Jun. 2026 was 3.60. The higher Degree of Operating Leverage, the higher operating risk the company will take.
The industry rank for Axcelis Technologies's Degree of Operating Leverage or its related term are showing as below:
ACLS's Degree of Operating Leverage is ranked worse than 74.75% of 1010
companies
in the Semiconductors industry
Industry Median: 0.98
vs ACLS: 3.60
Axcelis Technologies (NAS:ACLS) Degree of Operating Leverage Explanation
Degree of Operating Leverage (DOL) is a leverage ratio that measures the sensitivity of a company’s operting income, also referred to as Earnings Before Interest and Taxes (EBIT), to fluctuations in its Revenue. DOL is a method used to quantify a company’s operating risk. This risk is related to the company's structure of variable costs and fixed costs. Since the fixed costs do not allow the company to adjust the operating costs, the operating risk rises with a higher fixed-to-variable costs proportion.
A high Degree of Operating Leverage indicates that the company’s fixed costs exceed its variable costs. By increasing the sales, the company can earn more profits. In addition, the company must be able to maintain relatively high sales to cover all fixed costs.
Be Aware
The use of operating leverage varies across different industries and business sectors, and the application of Degree of Operating Leverage (DOL) should be adjusted accordingly.
Axcelis Technologies Degree of Operating Leverage Related Terms
Axcelis Technologies Degree of Operating Leverage Historical Data
* Premium members only.
The historical data trend for Axcelis Technologies's Degree of Operating Leverage can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Axcelis Technologies Degree of Operating Leverage Chart
ACLS vs UCTT, IPGP, VECO: Degree of Operating Leverage Comparison
For the Semiconductor Equipment & Materials subindustry, Axcelis Technologies's Degree of Operating Leverage, along with its competitors' market caps and Degree of Operating Leverage data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Axcelis Technologies Degree of Operating Leverage vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Axcelis Technologies's Degree of Operating Leverage distribution charts can be found below:
* The bar in red indicates where Axcelis Technologies's Degree of Operating Leverage falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
** TTM data of EBIT and Revenue was used to calculate Degree of Operating Leverage.
*** Please be aware that the Degree of Operating Leverage calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
What does a Degree of Operating Leverage of 3.60 mean?
Axcelis Technologies (ACLS) has a Degree of Operating Leverage of 3.60 as of Jun. 2026. Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. View historical data for Axcelis Technologies and its competitors. According to the industry distribution chart, Axcelis Technologies ranks #755 out of 1010 companies in the Semiconductors industry, placing it in the top 74.8%.
Is Axcelis Technologies' Degree of Operating Leverage too high?
Axcelis Technologies' current Degree of Operating Leverage is 3.60. The Semiconductors industry median Degree of Operating Leverage is 0.98. Axcelis Technologies' value of 3.60 is 267.3% above this industry median. Based on the distribution chart, Axcelis Technologies ranks #755 out of 1010 companies in the Semiconductors industry, which is below the industry midpoint. Overall, Axcelis Technologies has a GF Score™ of 92/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Axcelis Technologies' Degree of Operating Leverage compare to UCTT and IPGP?
According to the Semiconductors industry distribution chart, Axcelis Technologies ranks #755 out of 1010 companies for Degree of Operating Leverage. This places Axcelis Technologies in the lower half of its industry. The industry median Degree of Operating Leverage is 0.98. Axcelis Technologies' value of 3.60 is 267.3% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Degree of Operating Leverage for a Semiconductors company?
The median Degree of Operating Leverage among Semiconductors companies is 0.98, based on 1,010 companies in the industry. Companies in the top quartile (top 25%) have a Degree of Operating Leverage significantly above this median, while those in the bottom quartile fall well below. However, Degree of Operating Leverage should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Axcelis Technologies's current Degree of Operating Leverage of 3.60 is 267.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Degree of Operating Leverage mean?
A high Degree of Operating Leverage can signal that a stock is expensive relative to its fundamentals. Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. View historical data for Axcelis Technologies and its competitors. For the Semiconductors industry, the median Degree of Operating Leverage is 0.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Axcelis Technologies's current Degree of Operating Leverage is 3.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Axcelis Technologies stock overvalued right now?
Based on GuruFocus' analysis, Axcelis Technologies (ACLS) is currently considered Significantly Overvalued. The stock's GF Value™ is $87.62, compared to a current price of $138.21 — trading 57.7% above its estimated fair value. The current Degree of Operating Leverage is 3.60 and 267.3% above the Semiconductors industry median of 0.98. Axcelis Technologies' overall GF Score™ is 92/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Degree of Operating Leverage calculated?
Degree of Operating Leverage is calculated from a company's financial statements. For Axcelis Technologies (ACLS), the current Degree of Operating Leverage is 3.60 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Axcelis Technologies (ACLS) Overvalued in 2026?
Based on GuruFocus' analysis, Axcelis Technologies stock appears to be overvalued.
The current stock price of $138.21 is trading 57.7% above its estimated GF Value™ of $87.62.
GuruFocus considers Axcelis Technologies to be Significantly Overvalued.
Key valuation signals for ACLS:
Degree of Operating Leverage: 3.60
GF Value™: $87.62 vs. price of $138.21 (57.7% above fair value)
Industry Position: 267.3% above the Semiconductors median (#755 of 1010)
No single metric tells the full story. See the ACLS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Axcelis Technologies Inc designs, manufactures, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips. In addition to equipment, the company provides aftermarket lifecycle products and services, including used tools, spare parts, equipment upgrades, maintenance services, and customer training. Geographically, the group has a business presence in North America, Asia Pacific, and Europe, of which key revenue is derived from the Asia Pacific.
92GF Score
Get the complete analysis for ACLS
Degree of Operating Leverage is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ACLS has been successfully added to your 
