VEECO INSTRUMENTS INC (VECO) Fundamental Analysis & Valuation

NASDAQ:VECO • US9224171002

Current stock price

38.1 USD
+2.97 (+8.45%)
At close:
37.8 USD
-0.3 (-0.79%)
After Hours:

This VECO fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. VECO Profitability Analysis

1.1 Basic Checks

  • VECO had positive earnings in the past year.
  • In the past year VECO had a positive cash flow from operations.
  • VECO had positive earnings in 4 of the past 5 years.
  • Each year in the past 5 years VECO had a positive operating cash flow.
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M -100M -200M -300M -400M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 2.67%, VECO is in line with its industry, outperforming 56.52% of the companies in the same industry.
  • VECO has a Return On Equity (4.00%) which is comparable to the rest of the industry.
  • With a Return On Invested Capital value of 3.49%, VECO perfoms like the industry average, outperforming 58.26% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for VECO is below the industry average of 10.70%.
Industry RankSector Rank
ROA 2.67%
ROE 4%
ROIC 3.49%
ROA(3y)2.03%
ROA(5y)4.75%
ROE(3y)3.01%
ROE(5y)8.77%
ROIC(3y)5.96%
ROIC(5y)6.26%
VECO Yearly ROA, ROE, ROICVECO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 -40 -60 -80

1.3 Margins

  • VECO's Profit Margin of 5.33% is in line compared to the rest of the industry. VECO outperforms 58.26% of its industry peers.
  • In the last couple of years the Profit Margin of VECO has declined.
  • VECO has a Operating Margin (6.72%) which is comparable to the rest of the industry.
  • VECO's Operating Margin has improved in the last couple of years.
  • The Gross Margin of VECO (39.95%) is comparable to the rest of the industry.
  • VECO's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 6.72%
PM (TTM) 5.33%
GM 39.95%
OM growth 3Y-10.39%
OM growth 5Y5%
PM growth 3Y-40.92%
PM growth 5YN/A
GM growth 3Y-0.63%
GM growth 5Y-1.36%
VECO Yearly Profit, Operating, Gross MarginsVECO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40 -40 -60

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6

2. VECO Health Analysis

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.
  • Compared to 5 years ago, VECO has more shares outstanding
  • Compared to 1 year ago, VECO has an improved debt to assets ratio.
VECO Yearly Shares OutstandingVECO Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M
VECO Yearly Total Debt VS Total AssetsVECO Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

2.2 Solvency

  • VECO has an Altman-Z score of 3.66. This indicates that VECO is financially healthy and has little risk of bankruptcy at the moment.
  • VECO has a Altman-Z score of 3.66. This is comparable to the rest of the industry: VECO outperforms 46.09% of its industry peers.
  • The Debt to FCF ratio of VECO is 4.24, which is a neutral value as it means it would take VECO, 4.24 years of fcf income to pay off all of its debts.
  • VECO has a Debt to FCF ratio (4.24) 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.
  • With a Debt to Equity ratio value of 0.26, VECO perfoms like the industry average, outperforming 44.35% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.26
Debt/FCF 4.24
Altman-Z 3.66
ROIC/WACC0.31
WACC11.4%
VECO Yearly LT Debt VS Equity VS FCFVECO Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M 400M 600M 800M

2.3 Liquidity

  • A Current Ratio of 4.75 indicates that VECO has no problem at all paying its short term obligations.
  • With a decent Current ratio value of 4.75, VECO is doing good in the industry, outperforming 69.57% of the companies in the same industry.
  • A Quick Ratio of 3.20 indicates that VECO has no problem at all paying its short term obligations.
  • The Quick ratio of VECO (3.20) is better than 65.22% of its industry peers.
Industry RankSector Rank
Current Ratio 4.75
Quick Ratio 3.2
VECO Yearly Current Assets VS Current LiabilitesVECO Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M

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5

3. VECO Growth Analysis

3.1 Past

  • The earnings per share for VECO have decreased strongly by -23.56% in the last year.
  • Measured over the past years, VECO shows a quite strong growth in Earnings Per Share. The EPS has been growing by 9.37% on average per year.
  • VECO shows a decrease in Revenue. In the last year, the revenue decreased by -7.39%.
  • The Revenue has been growing slightly by 7.90% on average over the past years.
EPS 1Y (TTM)-23.56%
EPS 3Y-5.18%
EPS 5Y9.37%
EPS Q2Q%-41.46%
Revenue 1Y (TTM)-7.39%
Revenue growth 3Y0.93%
Revenue growth 5Y7.9%
Sales Q2Q%-9.4%

3.2 Future

  • Based on estimates for the next years, VECO will show a very strong growth in Earnings Per Share. The EPS will grow by 28.49% on average per year.
  • The Revenue is expected to grow by 13.23% on average over the next years. This is quite good.
EPS Next Y28.25%
EPS Next 2Y28.49%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year14.07%
Revenue Next 2Y13.23%
Revenue Next 3YN/A
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 accelerating.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
VECO Yearly Revenue VS EstimatesVECO Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M 800M
VECO Yearly EPS VS EstimatesVECO Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 0.5 1 1.5 2

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5

4. VECO Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 28.65, which means the current valuation is very expensive for VECO.
  • Compared to the rest of the industry, the Price/Earnings ratio of VECO indicates a rather cheap valuation: VECO is cheaper than 85.22% of the companies listed in the same industry.
  • VECO's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 26.91.
  • With a Price/Forward Earnings ratio of 22.34, VECO is valued on the expensive side.
  • VECO's Price/Forward Earnings ratio is rather cheap when compared to the industry. VECO is cheaper than 82.61% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 23.69, VECO is valued at the same level.
Industry RankSector Rank
PE 28.65
Fwd PE 22.34
VECO Price Earnings VS Forward Price EarningsVECO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • 73.91% of the companies in the same industry are more expensive than VECO, based on the Enterprise Value to EBITDA ratio.
  • 75.65% of the companies in the same industry are more expensive than VECO, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 43.17
EV/EBITDA 26.77
VECO Per share dataVECO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • VECO's earnings are expected to grow with 28.49% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.01
PEG (5Y)3.06
EPS Next 2Y28.49%
EPS Next 3YN/A

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0

5. VECO Dividend Analysis

5.1 Amount

  • No dividends for VECO!.
Industry RankSector Rank
Dividend Yield 0%

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VECO Fundamentals: All Metrics, Ratios and Statistics

VEECO INSTRUMENTS INC

NASDAQ:VECO (4/8/2026, 7:57:37 PM)

After market: 37.8 -0.3 (-0.79%)

38.1

+2.97 (+8.45%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)02-25
Earnings (Next)05-05
Inst Owners105.95%
Inst Owner Change0%
Ins Owners2.24%
Ins Owner Change14.83%
Market Cap2.30B
Revenue(TTM)664.29M
Net Income(TTM)35.39M
Analysts78
Price Target33.15 (-12.99%)
Short Float %10.11%
Short Ratio5.74
Dividend
Industry RankSector Rank
Dividend Yield 0%
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)11.78%
Min EPS beat(2)-2.57%
Max EPS beat(2)26.13%
EPS beat(4)3
Avg EPS beat(4)23.31%
Min EPS beat(4)-2.57%
Max EPS beat(4)56.66%
EPS beat(8)5
Avg EPS beat(8)12.17%
EPS beat(12)9
Avg EPS beat(12)18.44%
EPS beat(16)13
Avg EPS beat(16)16.72%
Revenue beat(2)1
Avg Revenue beat(2)-0.34%
Min Revenue beat(2)-2.01%
Max Revenue beat(2)1.33%
Revenue beat(4)2
Avg Revenue beat(4)1.42%
Min Revenue beat(4)-2.01%
Max Revenue beat(4)7.7%
Revenue beat(8)5
Avg Revenue beat(8)0.63%
Revenue beat(12)9
Avg Revenue beat(12)1.34%
Revenue beat(16)9
Avg Revenue beat(16)0.42%
PT rev (1m)1.56%
PT rev (3m)-0.91%
EPS NQ rev (1m)19.43%
EPS NQ rev (3m)-25.26%
EPS NY rev (1m)0%
EPS NY rev (3m)5.77%
Revenue NQ rev (1m)1.28%
Revenue NQ rev (3m)-1.65%
Revenue NY rev (1m)-1.66%
Revenue NY rev (3m)4.06%
Valuation
Industry RankSector Rank
PE 28.65
Fwd PE 22.34
P/S 3.46
P/FCF 43.17
P/OCF 33.11
P/B 2.6
P/tB 3.46
EV/EBITDA 26.77
EPS(TTM)1.33
EY3.49%
EPS(NY)1.71
Fwd EY4.48%
FCF(TTM)0.88
FCFY2.32%
OCF(TTM)1.15
OCFY3.02%
SpS11
BVpS14.66
TBVpS11.01
PEG (NY)1.01
PEG (5Y)3.06
Graham Number20.95
Profitability
Industry RankSector Rank
ROA 2.67%
ROE 4%
ROCE 3.89%
ROIC 3.49%
ROICexc 5.29%
ROICexgc 7.47%
OM 6.72%
PM (TTM) 5.33%
GM 39.95%
FCFM 8.02%
ROA(3y)2.03%
ROA(5y)4.75%
ROE(3y)3.01%
ROE(5y)8.77%
ROIC(3y)5.96%
ROIC(5y)6.26%
ROICexc(3y)8.76%
ROICexc(5y)9.26%
ROICexgc(3y)13.05%
ROICexgc(5y)14.6%
ROCE(3y)6.63%
ROCE(5y)6.96%
ROICexgc growth 3Y-20.68%
ROICexgc growth 5Y-6.65%
ROICexc growth 3Y-17.84%
ROICexc growth 5Y1.26%
OM growth 3Y-10.39%
OM growth 5Y5%
PM growth 3Y-40.92%
PM growth 5YN/A
GM growth 3Y-0.63%
GM growth 5Y-1.36%
F-Score5
Asset Turnover0.5
Health
Industry RankSector Rank
Debt/Equity 0.26
Debt/FCF 4.24
Debt/EBITDA 3.5
Cap/Depr 80.92%
Cap/Sales 2.44%
Interest Coverage 5.42
Cash Conversion 107.52%
Profit Quality 150.59%
Current Ratio 4.75
Quick Ratio 3.2
Altman-Z 3.66
F-Score5
WACC11.4%
ROIC/WACC0.31
Cap/Depr(3y)88.28%
Cap/Depr(5y)103.3%
Cap/Sales(3y)3.05%
Cap/Sales(5y)3.98%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-23.56%
EPS 3Y-5.18%
EPS 5Y9.37%
EPS Q2Q%-41.46%
EPS Next Y28.25%
EPS Next 2Y28.49%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-7.39%
Revenue growth 3Y0.93%
Revenue growth 5Y7.9%
Sales Q2Q%-9.4%
Revenue Next Year14.07%
Revenue Next 2Y13.23%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-53.09%
EBIT growth 3Y-9.55%
EBIT growth 5Y13.3%
EBIT Next Year40.64%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y16.61%
FCF growth 3Y-14.04%
FCF growth 5Y8.04%
OCF growth 1Y8.9%
OCF growth 3Y-13.8%
OCF growth 5Y10.08%

VEECO INSTRUMENTS INC / VECO Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for VEECO INSTRUMENTS INC?

ChartMill assigns a fundamental rating of 5 / 10 to VECO.


Can you provide the valuation status for VEECO INSTRUMENTS INC?

ChartMill assigns a valuation rating of 5 / 10 to VEECO INSTRUMENTS INC (VECO). This can be considered as Fairly Valued.


How profitable is VEECO INSTRUMENTS INC (VECO) stock?

VEECO INSTRUMENTS INC (VECO) has a profitability rating of 4 / 10.


What is the valuation of VEECO INSTRUMENTS INC based on its PE and PB ratios?

The Price/Earnings (PE) ratio for VEECO INSTRUMENTS INC (VECO) is 28.65 and the Price/Book (PB) ratio is 2.6.