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VEECO INSTRUMENTS INC (VECO) Stock Fundamental Analysis

NASDAQ:VECO - Nasdaq - US9224171002 - Common Stock - Currency: USD

20.82  +0.23 (+1.12%)

After market: 20.83 +0.01 (+0.05%)

Fundamental Rating

5

Taking everything into account, VECO scores 5 out of 10 in our fundamental rating. VECO was compared to 110 industry peers in the Semiconductors & Semiconductor Equipment industry. While VECO has a great profitability rating, there are some minor concerns on its financial health. VECO has a bad growth rate and is valued cheaply. These ratings could make VECO a good candidate for value investing.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

In the past year VECO was profitable.
In the past year VECO had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: VECO reported negative net income in multiple years.
VECO had a positive operating cash flow in each of the past 5 years.
VECO Yearly Net Income VS EBIT VS OCF VS FCFVECO Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M -200M -300M -400M

1.2 Ratios

VECO's Return On Assets of 4.99% is fine compared to the rest of the industry. VECO outperforms 65.45% of its industry peers.
VECO has a better Return On Equity (7.86%) than 64.55% of its industry peers.
Looking at the Return On Invested Capital, with a value of 6.26%, VECO is in the better half of the industry, outperforming 70.00% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for VECO is below the industry average of 10.68%.
The last Return On Invested Capital (6.26%) for VECO is above the 3 year average (6.04%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 4.99%
ROE 7.86%
ROIC 6.26%
ROA(3y)6.07%
ROA(5y)4.03%
ROE(3y)11.31%
ROE(5y)7.56%
ROIC(3y)6.04%
ROIC(5y)5.39%
VECO Yearly ROA, ROE, ROICVECO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 -40 -60 -80

1.3 Margins

VECO has a better Profit Margin (8.99%) than 62.73% of its industry peers.
VECO's Profit Margin has improved in the last couple of years.
The Operating Margin of VECO (12.28%) is better than 68.18% of its industry peers.
In the last couple of years the Operating Margin of VECO has grown nicely.
VECO's Gross Margin of 41.83% is in line compared to the rest of the industry. VECO outperforms 42.73% of its industry peers.
In the last couple of years the Gross Margin of VECO has grown nicely.
Industry RankSector Rank
OM 12.28%
PM (TTM) 8.99%
GM 41.83%
OM growth 3Y10.9%
OM growth 5YN/A
PM growth 3Y32.11%
PM growth 5YN/A
GM growth 3Y0.67%
GM growth 5Y2.35%
VECO Yearly Profit, Operating, Gross MarginsVECO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40 -60

5

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), VECO is destroying value.
The number of shares outstanding for VECO has been increased compared to 1 year ago.
The number of shares outstanding for VECO has been increased compared to 5 years ago.
The debt/assets ratio for VECO has been reduced compared to a year ago.
VECO Yearly Shares OutstandingVECO Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M
VECO Yearly Total Debt VS Total AssetsVECO Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.2 Solvency

An Altman-Z score of 2.46 indicates that VECO is not a great score, but indicates only limited risk for bankruptcy at the moment.
With a Altman-Z score value of 2.46, VECO is not doing good in the industry: 61.82% of the companies in the same industry are doing better.
The Debt to FCF ratio of VECO is 4.50, which is a neutral value as it means it would take VECO, 4.50 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 4.50, VECO is in line with its industry, outperforming 56.36% of the companies in the same industry.
A Debt/Equity ratio of 0.31 indicates that VECO is not too dependend on debt financing.
With a Debt to Equity ratio value of 0.31, VECO is not doing good in the industry: 61.82% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 0.31
Debt/FCF 4.5
Altman-Z 2.46
ROIC/WACC0.57
WACC11.01%
VECO Yearly LT Debt VS Equity VS FCFVECO Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M

2.3 Liquidity

VECO has a Current Ratio of 4.44. This indicates that VECO is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of VECO (4.44) is better than 63.64% of its industry peers.
VECO has a Quick Ratio of 3.02. This indicates that VECO is financially healthy and has no problem in meeting its short term obligations.
VECO has a Quick ratio of 3.02. This is in the better half of the industry: VECO outperforms 60.91% of its industry peers.
Industry RankSector Rank
Current Ratio 4.44
Quick Ratio 3.02
VECO Yearly Current Assets VS Current LiabilitesVECO Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

3

3. Growth

3.1 Past

VECO shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -10.27%.
The Earnings Per Share has been growing slightly by 6.76% on average over the past years.
Looking at the last year, VECO shows a small growth in Revenue. The Revenue has grown by 3.30% in the last year.
VECO shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 11.34% yearly.
EPS 1Y (TTM)-10.27%
EPS 3Y6.76%
EPS 5YN/A
EPS Q2Q%-17.78%
Revenue 1Y (TTM)3.3%
Revenue growth 3Y7.14%
Revenue growth 5Y11.34%
Sales Q2Q%-4.12%

3.2 Future

The Earnings Per Share is expected to grow by 2.37% on average over the next years.
The Revenue is expected to grow by 3.09% on average over the next years.
EPS Next Y-29.64%
EPS Next 2Y-5.32%
EPS Next 3Y2.37%
EPS Next 5YN/A
Revenue Next Year-9.12%
Revenue Next 2Y0.02%
Revenue Next 3Y3.09%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
VECO Yearly Revenue VS EstimatesVECO Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M
VECO Yearly EPS VS EstimatesVECO Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 0.5 1 1.5

7

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 12.54 indicates a correct valuation of VECO.
Based on the Price/Earnings ratio, VECO is valued cheaply inside the industry as 95.45% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 28.04. VECO is valued rather cheaply when compared to this.
The Price/Forward Earnings ratio is 13.35, which indicates a correct valuation of VECO.
Based on the Price/Forward Earnings ratio, VECO is valued cheaply inside the industry as 90.00% of the companies are valued more expensively.
VECO's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 37.64.
Industry RankSector Rank
PE 12.54
Fwd PE 13.35
VECO Price Earnings VS Forward Price EarningsVECO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, VECO is valued cheaply inside the industry as 90.91% of the companies are valued more expensively.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of VECO indicates a rather cheap valuation: VECO is cheaper than 81.82% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 22.46
EV/EBITDA 8.58
VECO Per share dataVECO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

The decent profitability rating of VECO may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-5.32%
EPS Next 3Y2.37%

0

5. Dividend

5.1 Amount

No dividends for VECO!.
Industry RankSector Rank
Dividend Yield N/A

VEECO INSTRUMENTS INC

NASDAQ:VECO (7/25/2025, 8:00:01 PM)

After market: 20.83 +0.01 (+0.05%)

20.82

+0.23 (+1.12%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)05-07 2025-05-07/amc
Earnings (Next)08-06 2025-08-06/amc
Inst Owners100.42%
Inst Owner Change-0.25%
Ins Owners2.53%
Ins Owner Change7.23%
Market Cap1.25B
Analysts81.54
Price Target27.69 (33%)
Short Float %8.1%
Short Ratio7.06
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)6.44%
Min EPS beat(2)-0.12%
Max EPS beat(2)13%
EPS beat(4)2
Avg EPS beat(4)2.21%
Min EPS beat(4)-4.21%
Max EPS beat(4)13%
EPS beat(8)6
Avg EPS beat(8)11.94%
EPS beat(12)10
Avg EPS beat(12)15.16%
EPS beat(16)14
Avg EPS beat(16)15.22%
Revenue beat(2)1
Avg Revenue beat(2)-0.34%
Min Revenue beat(2)-1.34%
Max Revenue beat(2)0.66%
Revenue beat(4)2
Avg Revenue beat(4)-0.58%
Min Revenue beat(4)-1.98%
Max Revenue beat(4)0.66%
Revenue beat(8)6
Avg Revenue beat(8)0.37%
Revenue beat(12)7
Avg Revenue beat(12)0.1%
Revenue beat(16)9
Avg Revenue beat(16)0.31%
PT rev (1m)0%
PT rev (3m)-8.21%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-32.78%
EPS NY rev (1m)0%
EPS NY rev (3m)-15.15%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-9.78%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-5.61%
Valuation
Industry RankSector Rank
PE 12.54
Fwd PE 13.35
P/S 1.76
P/FCF 22.46
P/OCF 16.76
P/B 1.54
P/tB 2.12
EV/EBITDA 8.58
EPS(TTM)1.66
EY7.97%
EPS(NY)1.56
Fwd EY7.49%
FCF(TTM)0.93
FCFY4.45%
OCF(TTM)1.24
OCFY5.97%
SpS11.85
BVpS13.54
TBVpS9.82
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 4.99%
ROE 7.86%
ROCE 7.93%
ROIC 6.26%
ROICexc 9.23%
ROICexgc 13.16%
OM 12.28%
PM (TTM) 8.99%
GM 41.83%
FCFM 7.83%
ROA(3y)6.07%
ROA(5y)4.03%
ROE(3y)11.31%
ROE(5y)7.56%
ROIC(3y)6.04%
ROIC(5y)5.39%
ROICexc(3y)8.95%
ROICexc(5y)8.09%
ROICexgc(3y)13.67%
ROICexgc(5y)13.37%
ROCE(3y)7.64%
ROCE(5y)6.82%
ROICexcg growth 3Y-2.66%
ROICexcg growth 5YN/A
ROICexc growth 3Y4.46%
ROICexc growth 5YN/A
OM growth 3Y10.9%
OM growth 5YN/A
PM growth 3Y32.11%
PM growth 5YN/A
GM growth 3Y0.67%
GM growth 5Y2.35%
F-Score6
Asset Turnover0.56
Health
Industry RankSector Rank
Debt/Equity 0.31
Debt/FCF 4.5
Debt/EBITDA 2.25
Cap/Depr 79.41%
Cap/Sales 2.66%
Interest Coverage 9.09
Cash Conversion 67.08%
Profit Quality 87.09%
Current Ratio 4.44
Quick Ratio 3.02
Altman-Z 2.46
F-Score6
WACC11.01%
ROIC/WACC0.57
Cap/Depr(3y)93.34%
Cap/Depr(5y)91.54%
Cap/Sales(3y)3.51%
Cap/Sales(5y)3.8%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-10.27%
EPS 3Y6.76%
EPS 5YN/A
EPS Q2Q%-17.78%
EPS Next Y-29.64%
EPS Next 2Y-5.32%
EPS Next 3Y2.37%
EPS Next 5YN/A
Revenue 1Y (TTM)3.3%
Revenue growth 3Y7.14%
Revenue growth 5Y11.34%
Sales Q2Q%-4.12%
Revenue Next Year-9.12%
Revenue Next 2Y0.02%
Revenue Next 3Y3.09%
Revenue Next 5YN/A
EBIT growth 1Y4.41%
EBIT growth 3Y18.82%
EBIT growth 5YN/A
EBIT Next Year-23.19%
EBIT Next 3Y4.8%
EBIT Next 5YN/A
FCF growth 1Y-27.83%
FCF growth 3Y19.03%
FCF growth 5YN/A
OCF growth 1Y-23.72%
OCF growth 3Y-1.95%
OCF growth 5YN/A