(VECO) Veeco Instruments - Overview
Sector: Technology | Industry: Semiconductor Equipment & Materials | Exchange: NASDAQ (USA) | Market Cap: 3.524m USD | Total Return: 206.5% in 12m
Avg Turnover: 78.2M
EPS Trend: -55.8%
Qual. Beats: -1
Rev. Trend: 25.4%
Qual. Beats: -1
Warnings
P/E ratio 148.1
Tailwinds
Shakeout, Supp Ema20, Leader, Tailwind, Pullback 52w
Veeco Instruments Inc. (VECO) designs and manufactures specialized process equipment used in the fabrication of semiconductor and thin film devices. Its product portfolio includes laser annealing, ion beam deposition, and metal organic chemical vapor deposition (MOCVD) systems. These technologies are essential for producing advanced logic, memory, and power electronics components.
The company operates within the semiconductor equipment sector, a highly cyclical industry characterized by significant research and development costs and capital expenditure requirements from global foundries. Veeco utilizes a direct sales and service model to support a diverse client base ranging from integrated device manufacturers to academic research centers. Investors may find ValueRay useful for analyzing the companys valuation metrics and historical performance.
Headquartered in Plainview, New York, Veeco serves key markets across North America, Europe, and the Asia-Pacific region. Its systems are integral to the manufacturing of radio frequency filters and magnetic heads for hard disk drives, positioning the firm as a critical supplier in the global electronics supply chain.
- Laser annealing adoption in leading-edge logic and DRAM scaling drives revenue growth
- Expansion of power electronics market increases demand for MOCVD and wet processing
- Semiconductor equipment export restrictions to China impact long-term international sales volume
- Hard disk drive market cyclicality influences ion beam deposition system order rates
- High-performance computing growth accelerates sales of advanced packaging lithography and deposition systems
| 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 (-90.7m) to EBITDA (57.4m): -1.58 < 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 0.42%; Δ 3.80k% > 0.5%) |
| Asset Turnover: 49.80% > 50% (prev 55.53%; Δ -5.73% > 0%) |
| Interest Coverage Ratio: 3.70 > 6 (EBITDA TTM 57.4m / 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 32.3m / Avg Total Assets 1.32b) |
| D: -0.90 (Book Value of Equity -421.5m / Total Liabilities 469.3m) |
| Altman-Z'' = 1.43 = BB |
| DSRI: 1.10 (Receivables 150.5m/148.0m, Revenue 655.3m/710.1m) |
| GMI: 1.09 (GM 38.46% / 41.83%) |
| 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 = -2.97 (Cap -4..+1) = A |
As of May 23, 2026, the stock is trading at USD 57.74 with a total of 919,133 shares traded.
Over the past week, the price has changed by +1.55%,
over one month by +18.23%,
over three months by +107.27% and
over the past year by +206.48%.
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 | 4.5% |
P/E Forward = 35.2113
P/S = 5.3774
P/B = 3.9887
P/EG = 0.8072
Revenue TTM = 655.3m USD
EBIT TTM = 32.3m USD
EBITDA TTM = 57.4m USD
Long Term Debt = 226.3m USD (from longTermDebt, last quarter)
Short Term Debt = unknown (none)
Debt = 292.6m USD (from shortLongTermDebtTotal, last quarter) + Leases 35.2m
Net Debt = -90.7m USD (calculated: Debt 292.6m - CCE 383.3m)
Enterprise Value = 3.43b USD (3.52b + Debt 292.6m - CCE 383.3m)
Interest Coverage Ratio = 3.70 (Ebit TTM 32.3m / Interest Expense TTM 8.73m)
EV/FCF = 80.05x (Enterprise Value 3.43b / FCF TTM 42.9m)
FCF Yield = 1.25% (FCF TTM 42.9m / Enterprise Value 3.43b)
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 = 2.54 (Enterprise Value 3.43b / Total Assets 1.35b)
Interest Expense / Debt = 0.72% (Interest Expense 2.10m / Debt 292.6m)
Taxrate = 10.15% (4.00m / 39.4m)
NOPAT = 29.0m (EBIT 32.3m * (1 - 10.15%))
Current Ratio = 4.23 (Total Current Assets 873.4m / Total Current Liabilities 206.7m)
Debt / Equity = 0.33 (Debt 292.6m / totalStockholderEquity, last quarter 883.7m)
Debt / EBITDA = -1.58 (Net Debt -90.7m / EBITDA 57.4m)
Debt / FCF = -2.11 (Net Debt -90.7m / 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 = 1.78% (Net Income TTM 23.1m / Total Stockholder Equity 1.30b)
RoCE = 2.12% (EBIT 32.3m / Capital Employed (Equity 1.30b + L.T.Debt 226.3m))
RoIC = 3.80% (NOPAT 29.0m / Invested Capital 763.0m)
WACC = 13.47% (E(3.52b)/V(3.82b) * Re(14.53%) + D(292.6m)/V(3.82b) * Rd(0.72%) * (1-Tc(0.10)))
Discount Rate = 14.53% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -2.22 | Cagr: 0.44%
[DCF] Terminal Value 61.80% ; FCFF base≈48.0m ; Y1≈49.8m ; Y5≈56.9m
[DCF] Fair Price = 9.38 (EV 481.6m - Net Debt -90.7m = Equity 572.3m / Shares 61.0m; r=13.47% [WACC]; 5y FCF grow 3.94% → 3.0% )
EPS Correlation: -55.83 | EPS CAGR: -9.21% | SUE: -3.01 | # QB: -1
Revenue Correlation: 25.43 | Revenue CAGR: 1.11% | SUE: -0.95 | # QB: -1
EPS current Quarter (2026-06-30): EPS=0.26 | Chg30d=-19.39% | Revisions=-20% | Analysts=4
EPS next Quarter (2026-09-30): EPS=0.52 | Chg30d=+2.46% | Revisions=-20% | Analysts=4
EPS current Year (2026-12-31): EPS=1.62 | Chg30d=-1.92% | Revisions=-20% | GrowthEPS=+21.8% | GrowthRev=+17.8%
EPS next Year (2027-12-31): EPS=3.04 | Chg30d=+45.33% | Revisions=+20% | GrowthEPS=+87.9% | GrowthRev=+28.1%
[Analyst] Revisions Ratio: -20%