VECO Stock Analysis: Veeco Instruments | NASDAQ
Semiconductor Equipment & Materials | NASDAQ, USA | Market Cap: 3.509m USD | 12M Return: 155.4% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 129M
EPS Trend: -63.2%
Qual. Beats: 0
Rev. Trend: 25.4%
Qual. Beats: -1
Warnings
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Veeco Instruments Inc. (NASDAQ: VECO) develops, manufactures, and supports semiconductor and thin film process equipment for the global microelectronics industry, with operations spanning the United States, Europe, the Middle East and Africa, China, and the rest of Asia-Pacific. Its product line covers laser annealing, ion beam deposition and etch, metal organic chemical vapor deposition (MOCVD), single wafer wet processing and surface preparation, molecular beam epitaxy (MBE), advanced packaging lithography, and atomic layer deposition (ALD) systems.
The companys equipment is used by integrated device manufacturers, foundries, outsourced semiconductor assembly and test (OSAT) firms, hard disk drive and photonics manufacturers, as well as research centers and universities, to produce logic chips, DRAM, photonic devices, power electronics, RF filters and amplifiers, and magnetic heads. Veeco operates as a capital equipment vendor within the GICS Semiconductor Materials & Equipment sub-industry, making its revenue heavily dependent on the cyclical capex spending of chipmakers and related component producers. The company was founded in 1945 and is headquartered in Plainview, New York.
- AI-driven demand boosts advanced packaging lithography orders
- GaN power electronics MOCVD sales expand with EV adoption
- China semiconductor capex cycle fuels equipment revenue growth
| Net Income: 23.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA -1.18 > 1.0 |
| NWC/Revenue: 101.7% < 20% (prev 86.74%; Δ 15.00% < -1%) |
| CFO/TA 0.04 > 3% & CFO 57.4m > Net Income 23.1m |
| Net Debt (-86.6m) to EBITDA (56.8m): -1.53 < 3 |
| Current Ratio: 4.23 > 1.5 & < 3 |
| Outstanding Shares: last quarter (60.4m) vs 12m ago 0.30% < -2% |
| Gross Margin: 38.46% > 18% (prev 41.83%; Δ -3.37% > 0.5%) |
| Asset Turnover: 49.80% > 50% (prev 55.53%; Δ -5.73% > 0%) |
| Interest Coverage Ratio: 3.63 > 6 (EBIT TTM 31.7m / Interest Expense TTM 8.73m) |
| A: 0.49 (Total Current Assets 873.4m - Total Current Liabilities 206.7m) / Total Assets 1.35b |
| B: -0.31 (Retained Earnings -423.4m / Total Assets 1.35b) |
| C: 0.02 (EBIT TTM 31.7m / Avg Total Assets 1.32b) |
| D: 1.88 (Book Value of Equity 883.7m / Total Liabilities 469.3m) |
| Altman-Z'' = 4.35 = AA |
| DSRI: 1.26 (Receivables 172.2m/148.0m, Revenue 655.3m/710.1m) |
| GMI: 1.09 (GM 41.83% / 38.46%) |
| AQI: 0.95 (AQ_t 0.26 / AQ_t-1 0.27) |
| SGI: 0.92 (Revenue 655.3m / 710.1m) |
| TATA: -0.03 (NI 23.1m - CFO 57.4m) / TA 1.35b) |
| Beneish M = -2.82 (Cap -4..+1) = A |
As of July 09, 2026, the stock is trading at USD 54.47 with a total of 903,522 shares traded. Over the past week, the price has changed by -28.14%, over one month by -10.76%, over three months by +42.97% and over the past year by +155.37%.
Current recommended Stop Loss: 46.50 (which is 14.6% or 1.3 ATR below the current price).
Veeco Instruments has received a consensus analysts rating of 4.29. Therefore, it is recommended to buy VECO.
- StrongBuy: 4
- Buy: 1
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 60.3 | 10.8% |
P/E Trailing = 151.2895
P/E Forward = 35.0877
P/S = 5.3542
P/B = 3.9694
P/EG = 0.8072
Revenue TTM = 655.3m USD
EBIT TTM = 31.7m USD
EBITDA TTM = 56.8m USD
Long Term Debt = 226.3m USD (from longTermDebt, last quarter)
Short Term Debt = 4.10m USD (from shortTermDebt, last quarter)
Debt = 296.7m USD (from shortLongTermDebtTotal, last quarter) + Leases 35.2m
Net Debt = -86.6m USD (calculated: Debt 296.7m - CCE 383.3m)
Enterprise Value = 3.42b USD (3.51b + Debt 296.7m - CCE 383.3m)
Interest Coverage Ratio = 3.63 (Ebit TTM 31.7m / Interest Expense TTM 8.73m)
EV/FCF = 79.79x (Enterprise Value 3.42b / FCF TTM 42.9m)
FCF Yield = 1.25% (FCF TTM 42.9m / Enterprise Value 3.42b)
FCF Margin = 6.54% (FCF TTM 42.9m / Revenue TTM 655.3m)
Net Margin = 3.53% (Net Income TTM 23.1m / Revenue TTM 655.3m)
Gross Margin = 38.46% ((Revenue TTM 655.3m - Cost of Revenue TTM 403.3m) / Revenue TTM)
Gross Margin QoQ = 34.81% (prev 37.14%)
Tobins Q-Ratio = 2.53 (Enterprise Value 3.42b / Total Assets 1.35b)
Interest Expense / Debt = 2.94% (Interest Expense 8.73m / Debt 296.7m)
Taxrate = 10.15% (4.00m / 39.4m)
NOPAT = 28.4m (EBIT 31.7m * (1 - 10.15%))
Current Ratio = 4.23 (Total Current Assets 873.4m / Total Current Liabilities 206.7m)
Debt / Equity = 0.34 (Debt 296.7m / totalStockholderEquity, last quarter 883.7m)
Debt / EBITDA = -1.53 (Net Debt -86.6m / EBITDA 56.8m)
Debt / FCF = -2.02 (Net Debt -86.6m / FCF TTM 42.9m)
Total Stockholder Equity = 875.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 1.76% (Net Income 23.1m / Total Assets 1.35b)
RoE = 2.64% (Net Income TTM 23.1m / Total Stockholder Equity 875.3m)
RoCE = 2.87% (EBIT 31.7m / Capital Employed (Equity 875.3m + L.T.Debt 226.3m))
RoIC = 2.54% (NOPAT 28.4m / Invested Capital 1.12b)
WACC = 13.11% (E(3.51b)/V(3.81b) * Re(13.99%) + D(296.7m)/V(3.81b) * Rd(2.94%) * (1-Tc(0.10)))
Discount Rate = 13.99% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: -14.51 | Cagr: 4.79%
[DCF] Terminal Value 57.58% ; FCFF base≈48.0m ; Y1≈42.1m ; Y5≈34.0m
[DCF] Fair Price = 6.47 (EV 308.2m - Net Debt -86.6m = Equity 394.8m / Shares 61.0m; r=13.11% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -63.24 | EPS CAGR: -16.03% | SUE: -0.80 | # QB: 0
Revenue Correlation: 25.43 | Revenue CAGR: 1.11% | SUE: -0.95 | # QB: -1
EPS current Quarter (2026-06-30): EPS=0.28 | Chg30d=-11.13% | Revisions=-57% | Analysts=5
EPS next Quarter (2026-09-30): EPS=0.52 | Chg30d=+2.46% | Revisions=+17% | Analysts=4
EPS current Year (2026-12-31): EPS=1.62 | Chg30d=-1.92% | Revisions=-57% | GrowthEPS=+21.8% | GrowthRev=+15.0%
EPS next Year (2027-12-31): EPS=3.04 | Chg30d=+45.33% | Revisions=+57% | GrowthEPS=+87.9% | GrowthRev=+31.2%
[Analyst] Revisions Ratio: -17% (up=6, down=9)