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VEECO INSTRUMENTS INC (VECO) Stock Fundamental Analysis

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

20.88  -0.14 (-0.67%)

Fundamental Rating

5

Overall VECO gets a fundamental rating of 5 out of 10. We evaluated VECO against 110 industry peers in the Semiconductors & Semiconductor Equipment industry. VECO scores excellent on profitability, but there are some minor concerns on its financial health. VECO is cheap, but on the other hand it scores bad on growth. These ratings could make VECO a good candidate for value investing.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

VECO had positive earnings in the past year.
VECO had a positive operating cash flow in the past year.
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 has a better Return On Assets (4.99%) than 65.45% of its industry peers.
With a decent Return On Equity value of 7.86%, VECO is doing good in the industry, outperforming 64.55% of the companies in the same industry.
VECO's Return On Invested Capital of 6.26% is fine compared to the rest of the industry. VECO outperforms 70.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for VECO is below the industry average of 10.70%.
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

Looking at the Profit Margin, with a value of 8.99%, VECO is in the better half of the industry, outperforming 62.73% of the companies in the same industry.
In the last couple of years the Profit Margin of VECO has grown nicely.
VECO has a Operating Margin of 12.28%. This is in the better half of the industry: VECO outperforms 68.18% of its industry peers.
VECO's Operating Margin has improved in the last couple of years.
VECO has a Gross Margin (41.83%) which is comparable to the rest of the industry.
VECO's Gross Margin has improved in the last couple of years.
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

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5

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.
VECO has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, VECO has more shares outstanding
VECO has a better debt/assets ratio than last year.
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 2.49 indicates that VECO is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 2.49, VECO is doing worse than 61.82% of the companies in the same industry.
VECO has a debt to FCF ratio of 4.50. This is a neutral value as VECO would need 4.50 years to pay back of all of its debts.
VECO's Debt to FCF ratio of 4.50 is in line compared to the rest of the industry. VECO outperforms 56.36% of its industry peers.
VECO has a Debt/Equity ratio of 0.31. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of VECO (0.31) is worse than 61.82% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.31
Debt/FCF 4.5
Altman-Z 2.49
ROIC/WACC0.57
WACC10.99%
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.
With a decent Current ratio value of 4.44, VECO is doing good in the industry, outperforming 63.64% of the companies in the same industry.
A Quick Ratio of 3.02 indicates that VECO has no problem at all paying its short term obligations.
VECO's Quick ratio of 3.02 is fine compared to the rest 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

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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.
The Revenue has been growing slightly by 3.30% in the past 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.
Based on estimates for the next years, VECO will show a small growth in Revenue. The Revenue will grow by 3.09% on average per year.
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

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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.
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

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7

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 12.58, the valuation of VECO can be described as correct.
Compared to the rest of the industry, the Price/Earnings ratio of VECO indicates a rather cheap valuation: VECO is cheaper than 96.36% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of VECO to the average of the S&P500 Index (27.53), we can say VECO is valued rather cheaply.
The Price/Forward Earnings ratio is 13.39, which indicates a correct valuation of VECO.
Based on the Price/Forward Earnings ratio, VECO is valued cheaper than 91.82% of the companies in the same industry.
VECO is valuated cheaply when we compare the Price/Forward Earnings ratio to 36.71, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 12.58
Fwd PE 13.39
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 cheaper than 90.91% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, VECO is valued cheaper than 81.82% of the companies in the same industry.
Industry RankSector Rank
P/FCF 22.52
EV/EBITDA 8.81
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

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

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0

5. Dividend

5.1 Amount

VECO does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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VEECO INSTRUMENTS INC

NASDAQ:VECO (7/23/2025, 12:54:56 PM)

20.88

-0.14 (-0.67%)

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 (32.61%)
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 12.58
Fwd PE 13.39
P/S 1.76
P/FCF 22.52
P/OCF 16.81
P/B 1.54
P/tB 2.13
EV/EBITDA 8.81
EPS(TTM)1.66
EY7.95%
EPS(NY)1.56
Fwd EY7.47%
FCF(TTM)0.93
FCFY4.44%
OCF(TTM)1.24
OCFY5.95%
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 2.49
F-Score6
WACC10.99%
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