VEECO INSTRUMENTS INC (VECO) Stock Fundamental Analysis
NASDAQ:VECO - US9224171002 - Common Stock
24 USD
-0.77 (-3.11%)
24 USD
0 (0%)
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. VECO has an average financial health and profitability rating. VECO has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
VECO had positive earnings in the past year.
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.
In the past 5 years VECO always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of VECO (4.75%) is better than 68.18% of its industry peers.
With a decent Return On Equity value of 7.08%, VECO is doing good in the industry, outperforming 64.55% of the companies in the same industry.
With a decent Return On Invested Capital value of 5.85%, VECO is doing good in the industry, outperforming 68.18% 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 10.98%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.75% | ||
| ROE | 7.08% | ||
| ROIC | 5.85% |
ROA(3y)6.07%
ROA(5y)4.03%
ROE(3y)11.31%
ROE(5y)7.56%
ROIC(3y)6.04%
ROIC(5y)5.39%
1.3 Margins
VECO has a better Profit Margin (8.65%) than 65.45% of its industry peers.
VECO's Profit Margin has improved in the last couple of years.
With a decent Operating Margin value of 11.83%, VECO is doing good in the industry, outperforming 68.18% of the companies in the same industry.
In the last couple of years the Operating Margin of VECO has grown nicely.
Looking at the Gross Margin, with a value of 41.46%, VECO is in line with its industry, outperforming 42.73% of the companies in the same industry.
In the last couple of years the Gross Margin of VECO has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 11.83% | ||
| PM (TTM) | 8.65% | ||
| GM | 41.46% |
OM growth 3Y10.9%
OM growth 5YN/A
PM growth 3Y32.11%
PM growth 5YN/A
GM growth 3Y0.67%
GM growth 5Y2.35%
2. Health
2.1 Basic Checks
VECO has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, VECO has more shares outstanding
The number of shares outstanding for VECO has been increased compared to 5 years ago.
Compared to 1 year ago, VECO has an improved debt to assets ratio.
2.2 Solvency
VECO has an Altman-Z score of 2.96. This is not the best score and indicates that VECO is in the grey zone with still only limited risk for bankruptcy at the moment.
VECO has a Altman-Z score (2.96) which is in line with its industry peers.
The Debt to FCF ratio of VECO is 4.06, which is a neutral value as it means it would take VECO, 4.06 years of fcf income to pay off all of its debts.
VECO has a Debt to FCF ratio (4.06) which is in line with its industry peers.
A Debt/Equity ratio of 0.26 indicates that VECO is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.26, VECO is doing worse than 60.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.26 | ||
| Debt/FCF | 4.06 | ||
| Altman-Z | 2.96 |
ROIC/WACC0.52
WACC11.22%
2.3 Liquidity
VECO has a Current Ratio of 5.10. This indicates that VECO is financially healthy and has no problem in meeting its short term obligations.
VECO has a Current ratio of 5.10. This is in the better half of the industry: VECO outperforms 76.36% of its industry peers.
VECO has a Quick Ratio of 3.43. This indicates that VECO is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 3.43, VECO is in the better half of the industry, outperforming 68.18% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 5.1 | ||
| Quick Ratio | 3.43 |
3. Growth
3.1 Past
VECO shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -16.23%.
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 decrease in Revenue. The Revenue has decreased by -0.19% 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)-16.23%
EPS 3Y6.76%
EPS 5YN/A
EPS Q2Q%-14.29%
Revenue 1Y (TTM)-0.19%
Revenue growth 3Y7.14%
Revenue growth 5Y11.34%
Sales Q2Q%-5.56%
3.2 Future
Based on estimates for the next years, VECO will show a small growth in Earnings Per Share. The EPS will grow by 3.57% on average per year.
The Revenue is expected to grow by 2.95% on average over the next years.
EPS Next Y-22.86%
EPS Next 2Y-4.98%
EPS Next 3Y3.57%
EPS Next 5YN/A
Revenue Next Year-7.47%
Revenue Next 2Y0.19%
Revenue Next 3Y2.95%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
VECO is valuated correctly with a Price/Earnings ratio of 15.00.
VECO's Price/Earnings ratio is rather cheap when compared to the industry. VECO is cheaper than 90.00% of the companies in the same industry.
VECO's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.14.
With a Price/Forward Earnings ratio of 15.28, VECO is valued correctly.
Based on the Price/Forward Earnings ratio, VECO is valued cheaply inside the industry as 88.18% of the companies are valued more expensively.
VECO's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.80.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15 | ||
| Fwd PE | 15.28 |
4.2 Price Multiples
VECO's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. VECO is cheaper than 86.36% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, VECO is valued a bit cheaper than the industry average as 77.27% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 26.01 | ||
| EV/EBITDA | 10.93 |
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-4.98%
EPS Next 3Y3.57%
5. Dividend
5.1 Amount
No dividends for VECO!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
24
-0.77 (-3.11%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners101.77%
Inst Owner Change0.81%
Ins Owners2.51%
Ins Owner Change7.23%
Market Cap1.44B
Analysts81.54
Price Target27.54 (14.75%)
Short Float %7.57%
Short Ratio6.06
Dividend
| Industry Rank | Sector 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)2
Avg EPS beat(2)34.83%
Min EPS beat(2)13%
Max EPS beat(2)56.66%
EPS beat(4)3
Avg EPS beat(4)17.43%
Min EPS beat(4)-0.12%
Max EPS beat(4)56.66%
EPS beat(8)6
Avg EPS beat(8)16.81%
EPS beat(12)10
Avg EPS beat(12)18.43%
EPS beat(16)14
Avg EPS beat(16)16.97%
Revenue beat(2)1
Avg Revenue beat(2)3.18%
Min Revenue beat(2)-1.34%
Max Revenue beat(2)7.7%
Revenue beat(4)3
Avg Revenue beat(4)1.85%
Min Revenue beat(4)-1.34%
Max Revenue beat(4)7.7%
Revenue beat(8)6
Avg Revenue beat(8)1.24%
Revenue beat(12)8
Avg Revenue beat(12)0.74%
Revenue beat(16)9
Avg Revenue beat(16)0.45%
PT rev (1m)-0.53%
PT rev (3m)-5.03%
EPS NQ rev (1m)0.67%
EPS NQ rev (3m)-22.99%
EPS NY rev (1m)9.64%
EPS NY rev (3m)4.75%
Revenue NQ rev (1m)0.35%
Revenue NQ rev (3m)-7.21%
Revenue NY rev (1m)1.81%
Revenue NY rev (3m)1.39%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15 | ||
| Fwd PE | 15.28 | ||
| P/S | 2.06 | ||
| P/FCF | 26.01 | ||
| P/OCF | 19.24 | ||
| P/B | 1.69 | ||
| P/tB | 2.28 | ||
| EV/EBITDA | 10.93 |
EPS(TTM)1.6
EY6.67%
EPS(NY)1.57
Fwd EY6.55%
FCF(TTM)0.92
FCFY3.84%
OCF(TTM)1.25
OCFY5.2%
SpS11.64
BVpS14.23
TBVpS10.54
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.75% | ||
| ROE | 7.08% | ||
| ROCE | 7.4% | ||
| ROIC | 5.85% | ||
| ROICexc | 8.56% | ||
| ROICexgc | 12.07% | ||
| OM | 11.83% | ||
| PM (TTM) | 8.65% | ||
| GM | 41.46% | ||
| FCFM | 7.93% |
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-Score5
Asset Turnover0.55
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.26 | ||
| Debt/FCF | 4.06 | ||
| Debt/EBITDA | 2.14 | ||
| Cap/Depr | 87.65% | ||
| Cap/Sales | 2.79% | ||
| Interest Coverage | 8.77 | ||
| Cash Conversion | 71.37% | ||
| Profit Quality | 91.61% | ||
| Current Ratio | 5.1 | ||
| Quick Ratio | 3.43 | ||
| Altman-Z | 2.96 |
F-Score5
WACC11.22%
ROIC/WACC0.52
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)-16.23%
EPS 3Y6.76%
EPS 5YN/A
EPS Q2Q%-14.29%
EPS Next Y-22.86%
EPS Next 2Y-4.98%
EPS Next 3Y3.57%
EPS Next 5YN/A
Revenue 1Y (TTM)-0.19%
Revenue growth 3Y7.14%
Revenue growth 5Y11.34%
Sales Q2Q%-5.56%
Revenue Next Year-7.47%
Revenue Next 2Y0.19%
Revenue Next 3Y2.95%
Revenue Next 5YN/A
EBIT growth 1Y-4.04%
EBIT growth 3Y18.82%
EBIT growth 5YN/A
EBIT Next Year-23.19%
EBIT Next 3Y4.8%
EBIT Next 5YN/A
FCF growth 1Y-35%
FCF growth 3Y19.03%
FCF growth 5YN/A
OCF growth 1Y-28.81%
OCF growth 3Y-1.95%
OCF growth 5YN/A