VECO

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Veeco Instruments Inc.

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Key Metrics

Previous Close: $47.42
52-Week Range: $23.31 – $86.63
Market Cap: $2.88B
P/E (TTM): 124.21
EPS (TTM): 0.38
Dividend Yield: —

Advanced Metrics

Price/Book: 3.20
PEG Ratio: 0.81
Return on Equity: 2.64%
Return on Assets: 1.39%
Gross Margin: 37.92%
Operating Margin: 6.88%
Profit Margin: 3.40%
Current Ratio: 3.93
Debt/Equity: 0.29
Total Debt: $261.19M
Free Cash Flow: $72.05M
Revenue Growth: 16.50%
Earnings Growth: -8.60%
Enterprise Value: $2.73B

VECO Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$646.14M	$666.43M	$717.30M	$664.29M
Cost of Revenue	$382.99M	$381.38M	$413.30M	$398.88M
Gross Profit	$263.15M	$285.06M	$304.00M	$265.41M
Research & Development	$103.56M	$112.85M	$124.51M	$119.64M
Selling, General & Admin	$88.95M	$92.76M	$99.66M	$98.91M
Operating Expenses	$202.85M	$215.12M	$208.89M	$220.79M
Operating Income	$60.30M	$69.94M	$95.11M	$44.62M
EBITDA	$88.14M	$8.40M	$105.02M	$68.54M
Pretax Income	$50.98M	-$28.34M	$68.83M	$39.39M
Income Tax	-$115.96M	$2.03M	-$4.88M	$4.00M
Net Income	$166.94M	-$30.37M	$73.71M	$35.39M
Diluted EPS	2.71	-0.56	1.23	0.59
Diluted Shares	65.61M	53.77M	61.60M	60.59M

VECO Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$154.93M	$158.78M	$145.59M	$163.47M
Receivables	$140.73M	$127.39M	$133.94M	$145.52M
Inventory	$206.91M	$237.63M	$246.74M	$275.30M
Current Assets	$668.90M	$706.28M	$764.53M	$845.34M
Total Assets	$1.13B	$1.23B	$1.25B	$1.33B
Current Liabilities	$257.90M	$218.03M	$192.28M	$178.06M
Long-Term Debt	$254.49M	$274.94M	$249.70M	$226.01M
Total Debt	$311.57M	$310.50M	$314.27M	$262.01M
Total Liabilities	$550.36M	$556.60M	$480.81M	$440.29M
Retained Earnings	-$501.80M	-$532.17M	-$458.45M	-$423.06M
Shareholders' Equity	$577.82M	$672.44M	$770.77M	$885.51M
Working Capital	$411.00M	$488.25M	$572.25M	$667.28M
Net Debt	$119.73M	$116.16M	$130.60M	$62.54M

VECO Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$108.48M	$61.67M	$63.81M	$69.49M
Capital Expenditure	-$24.60M	-$27.93M	-$18.11M	-$16.20M
Free Cash Flow	$83.88M	$33.74M	$45.70M	$53.29M
Depreciation & Amortisation	$25.64M	$24.97M	$25.14M	$20.02M
Stock-Based Compensation	$22.99M	$28.56M	$35.88M	$37.05M
Investing Cash Flow	-$68.88M	-$53.33M	-$64.55M	-$41.48M
Financing Cash Flow	-$4.55M	-$4.68M	-$12.58M	-$10.47M
Net Change in Cash	$35.05M	$3.66M	-$13.31M	$17.55M

VECO Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$167.29M	$166.10M	$165.88M	$165.02M	$158.34M
Cost of Revenue	$98.83M	$97.38M	$98.18M	$104.50M	$102.51M
Gross Profit	$68.47M	$68.73M	$67.70M	$60.51M	$55.83M
Research & Development	$28.51M	$31.56M	$28.99M	$30.58M	$29.88M
Selling, General & Admin	$25.03M	$23.93M	$27.26M	$22.69M	$26.02M
Operating Expenses	$54.32M	$56.36M	$57.15M	$52.97M	$56.47M
Operating Income	$14.15M	$12.37M	$10.55M	$7.54M	-$646.00K
EBITDA	$22.52M	$20.01M	$18.94M	$7.06M	$5.66M
Pretax Income	$14.98M	$12.62M	$11.88M	-$94.00K	-$1.48M
Income Tax	$3.04M	$889.00K	$1.28M	-$1.21M	-$1.16M
Net Income	$11.95M	$11.73M	$10.60M	$1.11M	-$324.00K
Diluted EPS	0.20	0.20	0.17	0.02	-0.01
Diluted Shares	60.23M	60.24M	60.95M	61.52M	60.41M

VECO Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$174.90M	$188.90M	$193.19M	$163.47M	$179.53M
Receivables	$147.95M	$143.00M	$147.54M	$145.52M	$172.24M
Inventory	$254.05M	$258.98M	$263.31M	$275.30M	$282.23M
Current Assets	$794.80M	$791.89M	$810.33M	$845.34M	$873.42M
Total Assets	$1.28B	$1.27B	$1.29B	$1.33B	$1.35B
Current Liabilities	$178.86M	$155.24M	$151.19M	$178.06M	$206.69M
Long-Term Debt	$249.96M	$225.44M	$225.72M	$226.01M	$226.25M
Total Debt	$287.46M	$262.77M	$262.43M	$262.01M	$261.49M
Total Liabilities	$466.97M	$418.51M	$413.94M	$440.29M	$469.31M
Retained Earnings	-$446.51M	-$434.77M	-$424.18M	-$423.06M	-$423.39M
Shareholders' Equity	$811.86M	$856.20M	$875.97M	$885.51M	$883.66M
Working Capital	$615.95M	$636.65M	$659.15M	$667.28M	$666.73M
Net Debt	$75.06M	$36.54M	$32.53M	$62.54M	$46.72M

VECO Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$19.99M	$9.04M	$15.53M	$24.93M	$7.93M
Capital Expenditure	-$6.75M	-$3.60M	-$2.58M	-$3.27M	-$5.10M
Free Cash Flow	$13.24M	$5.45M	$12.96M	$21.65M	$2.83M
Depreciation & Amortisation	$5.04M	$5.10M	$4.90M	$4.98M	$5.04M
Stock-Based Compensation	$9.21M	$9.65M	$9.14M	$9.04M	$8.51M
Investing Cash Flow	$14.52M	$9.54M	-$12.13M	-$53.41M	$17.69M
Financing Cash Flow	-$5.28M	-$4.71M	$820.00K	-$1.31M	-$9.56M
Net Change in Cash	$29.24M	$13.87M	$4.23M	-$29.79M	$16.07M

Market Snapshot

About

Veeco Instruments is a provider of advanced thin film process equipment for the semiconductor, compound semiconductor, and data storage industries. The company specializes in technologies for MOCVD, lithography, laser annealing, and ion beam deposition. Veeco serves customers in markets including 5G, LED, power electronics, and advanced memory.