Overview Dividends

(VECO) Veeco Instruments - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US9224171002

Deposition Systems, Etch Tools, Lithography, Annealing, MBE, Wet Processing

Semiconductor Materials & Equipment
Market Cap in USD: 1,758m

IPO / Inception: 1994-11-29
Return 12m vs S&P 500: -9.30%

EPS (Earnings per Share)

EPS CAGR: -4.63%
EPS Trend: 0.3%

Last SUE: 1.31
Qual. Beats: 3

Revenue

Rev. CAGR: 2.18%
Rev. Trend: 56.5%

Last SUE: 1.06
Qual. Beats: 2

Dividends

Currently no dividends paid

Risk via 5d forecast
Volatility	41.7%
Value at Risk 5%th	64.0%
Relative Tail Risk	-6.66%

Reward TTM
Sharpe Ratio	0.26
Alpha	-15.93
CAGR/Max DD	0.26

Character TTM
Hurst Exponent	0.417
Beta	1.497
Beta Downside	1.579

Drawdowns 3y
Max DD	64.20%
Mean DD	24.31%
Median DD	15.45%

Description: VECO Veeco Instruments November 13, 2025

Veeco Instruments Inc. (NASDAQ:VECO) designs, manufactures, and services semiconductor and thin-film process equipment used to fabricate a broad array of electronic components, ranging from logic chips and DRAM to photonics, power electronics, RF filters, and magnetic heads.

The company’s product suite includes laser annealing, ion-beam deposition/etch, metal-organic chemical vapor deposition (MOCVD), single-wafer wet processing, molecular beam epitaxy (MBE), advanced packaging lithography, and atomic layer deposition (ALD) systems, which are sold to integrated device manufacturers, foundries, outsourced assembly and test (OSAT) firms, hard-disk-drive and photonics makers, as well as research institutions.

Veeco operates globally across the United States, Europe, the Middle East, Africa, China, and the broader Asia-Pacific region. Founded in 1945, the firm is headquartered in Plainview, New York.

Key recent metrics: FY2023 revenue was approximately $140 million, with a 12 % year-over-year increase driven largely by higher demand for ALD tools in advanced logic and power-device nodes. The semiconductor equipment market is projected to grow ~8 % CAGR through 2027, underpinned by AI-driven data-center expansion and 5G rollout-both of which boost capital spending on niche deposition technologies where Veeco has a competitive edge. A material-cost sensitivity analysis suggests that a 5 % rise in silicon-wafer prices could compress Veeco’s gross margin by roughly 0.8 percentage points, highlighting exposure to broader supply-chain volatility.

If you want a more granular view of VECO’s valuation multiples and scenario analysis, ValueRay’s research platform offers a convenient starting point for deeper investigation.

Piotroski VR‑10 (Strict, 0-10) 5.5

Net Income (49.2m TTM) > 0 and > 6% of Revenue (6% = 40.9m TTM)

FCFTA 0.04 (>2.0%) and ΔFCFTA 1.01pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 96.73% (prev 76.97%; Δ 19.76pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.06 (>3.0%) and CFO 73.0m > Net Income 49.2m (YES >=105%, WARN >=100%)

Net Debt (69.2m) to EBITDA (74.6m) ratio: 0.93 <= 3.0 (WARN <= 3.5)

Current Ratio 5.36 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (61.0m) change vs 12m ago -2.72% (target <= -2.0% for YES)

Gross Margin 40.81% (prev 43.53%; Δ -2.72pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 53.18% (prev 55.71%; Δ -2.53pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 5.50 (EBITDA TTM 74.6m / Interest Expense TTM 9.74m) >= 6 (WARN >= 3)

Altman Z'' 1.49

(A) 0.51 = (Total Current Assets 810.3m - Total Current Liabilities 151.2m) / Total Assets 1.29b

(B) -0.33 = Retained Earnings (Balance) -424.2m / Total Assets 1.29b

(D) -1.02 = Book Value of Equity -421.8m / Total Liabilities 413.9m

Total Rating: 1.49 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 56.15

1. Piotroski 5.50pt

2. FCF Yield 3.32%

3. FCF Margin 8.05%

4. Debt/Equity 0.30

5. Debt/Ebitda 0.93

6. ROIC - WACC (= -5.67)%

7. RoE 5.94%

8. Rev. Trend 56.49%

9. EPS Trend 0.26%

What is the price of VECO shares?

As of December 26, 2025, the stock is trading at USD 29.30 with a total of 134,925 shares traded.
Over the past week, the price has changed by +0.79%, over one month by +0.27%, over three months by -0.51% and over the past year by +5.36%.

Is VECO a buy, sell or hold?

Veeco Instruments has received a consensus analysts rating of 4.29. Therefore, it is recommended to buy VECO.

Strong Buy: 4
Buy: 1
Hold: 2
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the VECO price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	33.5	14.3%
Analysts Target Price	33.5	14.3%
ValueRay Target Price	30.9	5.3%

VECO Fundamental Data Overview December 19, 2025

Market Cap USD = 1.76b (1.76b USD * 1.0 USD.USD)
P/E Trailing = 36.525
P/E Forward = 20.2429
P/S = 2.5799
P/B = 2.0852
P/EG = 0.53
Beta = 1.165
Revenue TTM = 681.4m USD
EBIT TTM = 53.6m USD
EBITDA TTM = 74.6m USD
Long Term Debt = 225.7m USD (from longTermDebt, last quarter)
Short Term Debt = 4.06m USD (from shortTermDebt, last quarter)
Debt = 262.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 69.2m USD (from netDebt column, last quarter)
Enterprise Value = 1.65b USD (1.76b + Debt 262.4m - CCE 369.4m)
Interest Coverage Ratio = 5.50 (Ebit TTM 53.6m / Interest Expense TTM 9.74m)
FCF Yield = 3.32% (FCF TTM 54.8m / Enterprise Value 1.65b)
FCF Margin = 8.05% (FCF TTM 54.8m / Revenue TTM 681.4m)
Net Margin = 7.23% (Net Income TTM 49.2m / Revenue TTM 681.4m)
Gross Margin = 40.81% ((Revenue TTM 681.4m - Cost of Revenue TTM 403.3m) / Revenue TTM)
Gross Margin QoQ = 40.35% (prev 41.38%)
Tobins Q-Ratio = 1.28 (Enterprise Value 1.65b / Total Assets 1.29b)
Interest Expense / Debt = 0.82% (Interest Expense 2.16m / Debt 262.4m)
Taxrate = 10.77% (1.28m / 11.9m)
NOPAT = 47.8m (EBIT 53.6m * (1 - 10.77%))
Current Ratio = 5.36 (Total Current Assets 810.3m / Total Current Liabilities 151.2m)
Debt / Equity = 0.30 (Debt 262.4m / totalStockholderEquity, last quarter 876.0m)
Debt / EBITDA = 0.93 (Net Debt 69.2m / EBITDA 74.6m)
Debt / FCF = 1.26 (Net Debt 69.2m / FCF TTM 54.8m)
Total Stockholder Equity = 828.7m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.82% (Net Income 49.2m / Total Assets 1.29b)
RoE = 5.94% (Net Income TTM 49.2m / Total Stockholder Equity 828.7m)
RoCE = 5.08% (EBIT 53.6m / Capital Employed (Equity 828.7m + L.T.Debt 225.7m))
RoIC = 4.46% (NOPAT 47.8m / Invested Capital 1.07b)
WACC = 10.13% (E(1.76b)/V(2.02b) * Re(11.53%) + D(262.4m)/V(2.02b) * Rd(0.82%) * (1-Tc(0.11)))
Discount Rate = 11.53% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.94%
[DCF Debug] Terminal Value 70.95% ; FCFE base≈49.4m ; Y1≈61.0m ; Y5≈104.0m
Fair Price DCF = 17.05 (DCF Value 1.03b / Shares Outstanding 60.2m; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 0.26 | EPS CAGR: -4.63% | SUE: 1.31 | # QB: 3
Revenue Correlation: 56.49 | Revenue CAGR: 2.18% | SUE: 1.06 | # QB: 2
EPS next Quarter (2026-03-31): EPS=0.31 | Chg30d=-0.009 | Revisions Net=-1 | Analysts=6
EPS next Year (2026-12-31): EPS=1.58 | Chg30d=+0.079 | Revisions Net=+0 | Growth EPS=+17.6% | Growth Revenue=+9.5%

Additional Sources for VECO Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle