(VECO) Veeco Instruments - Overview
Stock: Semiconductor, Thin-Film, Deposition, Etch, Lithography
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 46.8% |
| Relative Tail Risk | -6.08% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.56 |
| Alpha | -3.97 |
| Character TTM | |
|---|---|
| Beta | 1.556 |
| Beta Downside | 1.470 |
| Drawdowns 3y | |
|---|---|
| Max DD | 64.20% |
| CAGR/Max DD | 0.24 |
Description: VECO Veeco Instruments January 16, 2026
Veeco Instruments Inc. (NASDAQ:VECO) designs, manufactures and supports a broad portfolio of semiconductor and thin-film process equipment-including laser annealing, ion-beam deposition, MOCVD, ALD, and advanced packaging lithography-used to fabricate logic, DRAM, photonics, power-electronics, RF, and magnetic-head components.
The company serves integrated device manufacturers, foundries, outsourced assembly and test (OSAT) providers, HDD and photonics makers, as well as research institutions across North America, Europe, the Middle East, Africa and the Asia-Pacific. Its equipment is especially critical for high-mix, low-volume applications such as advanced packaging and specialty photonics, where customers prioritize precision over pure volume.
Recent data (FY 2023) show revenue of roughly $220 million with a 45 % gross margin, while the Q2 2024 order backlog was reported near $150 million-indicating a solid pipeline amid a broader semiconductor capital-expenditure rebound driven by AI-related demand and diversification of supply chains. VECO’s R&D intensity remains around 12 % of revenue, reflecting ongoing investment in next-generation deposition technologies that could benefit from the industry’s shift toward heterogeneous integration.
For a deeper, data-driven assessment of VECO’s valuation and risk profile, you may find the analytics on ValueRay worth a quick look.
Piotroski VR‑10 (Strict, 0-10) 6.5
| Net Income: 49.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 1.01 > 1.0 |
| NWC/Revenue: 96.73% < 20% (prev 76.97%; Δ 19.76% < -1%) |
| CFO/TA 0.06 > 3% & CFO 73.0m > Net Income 49.2m |
| Net Debt (69.2m) to EBITDA (74.6m): 0.93 < 3 |
| Current Ratio: 5.36 > 1.5 & < 3 |
| Outstanding Shares: last quarter (61.0m) vs 12m ago -2.72% < -2% |
| Gross Margin: 40.81% > 18% (prev 0.44%; Δ 4038 % > 0.5%) |
| Asset Turnover: 53.18% > 50% (prev 55.71%; Δ -2.53% > 0%) |
| Interest Coverage Ratio: 5.50 > 6 (EBITDA TTM 74.6m / Interest Expense TTM 9.74m) |
Altman Z'' 1.49
| A: 0.51 (Total Current Assets 810.3m - Total Current Liabilities 151.2m) / Total Assets 1.29b |
| B: -0.33 (Retained Earnings -424.2m / Total Assets 1.29b) |
| C: 0.04 (EBIT TTM 53.6m / Avg Total Assets 1.28b) |
| D: -1.02 (Book Value of Equity -421.8m / Total Liabilities 413.9m) |
| Altman-Z'' Score: 1.49 = BB |
Beneish M -3.11
| DSRI: 0.94 (Receivables 147.5m/163.1m, Revenue 681.4m/709.1m) |
| GMI: 1.07 (GM 40.81% / 43.53%) |
| AQI: 0.91 (AQ_t 0.27 / AQ_t-1 0.29) |
| SGI: 0.96 (Revenue 681.4m / 709.1m) |
| TATA: -0.02 (NI 49.2m - CFO 73.0m) / TA 1.29b) |
| Beneish M-Score: -3.11 (Cap -4..+1) = AA |
What is the price of VECO shares?
Over the past week, the price has changed by -1.73%, over one month by -5.69%, over three months by +5.28% and over the past year by +21.54%.
Is VECO a buy, sell or hold?
- StrongBuy: 4
- Buy: 1
- Hold: 2
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the VECO price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 33.5 | 9.2% |
| Analysts Target Price | 33.5 | 9.2% |
| ValueRay Target Price | 33.1 | 7.8% |
VECO Fundamental Data Overview February 03, 2026
P/E Forward = 20.8333
P/S = 2.7635
P/B = 2.1497
P/EG = 0.53
Revenue TTM = 681.4m USD
EBIT TTM = 53.6m USD
EBITDA TTM = 74.6m USD
Long Term Debt = 225.7m USD (from longTermDebt, last quarter)
Short Term Debt = 4.06m USD (from shortTermDebt, last quarter)
Debt = 262.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 69.2m USD (from netDebt column, last quarter)
Enterprise Value = 1.78b USD (1.88b + Debt 262.4m - CCE 369.4m)
Interest Coverage Ratio = 5.50 (Ebit TTM 53.6m / Interest Expense TTM 9.74m)
EV/FCF = 32.38x (Enterprise Value 1.78b / FCF TTM 54.8m)
FCF Yield = 3.09% (FCF TTM 54.8m / Enterprise Value 1.78b)
FCF Margin = 8.05% (FCF TTM 54.8m / Revenue TTM 681.4m)
Net Margin = 7.23% (Net Income TTM 49.2m / Revenue TTM 681.4m)
Gross Margin = 40.81% ((Revenue TTM 681.4m - Cost of Revenue TTM 403.3m) / Revenue TTM)
Gross Margin QoQ = 40.35% (prev 41.38%)
Tobins Q-Ratio = 1.38 (Enterprise Value 1.78b / Total Assets 1.29b)
Interest Expense / Debt = 0.82% (Interest Expense 2.16m / Debt 262.4m)
Taxrate = 10.77% (1.28m / 11.9m)
NOPAT = 47.8m (EBIT 53.6m * (1 - 10.77%))
Current Ratio = 5.36 (Total Current Assets 810.3m / Total Current Liabilities 151.2m)
Debt / Equity = 0.30 (Debt 262.4m / totalStockholderEquity, last quarter 876.0m)
Debt / EBITDA = 0.93 (Net Debt 69.2m / EBITDA 74.6m)
Debt / FCF = 1.26 (Net Debt 69.2m / FCF TTM 54.8m)
Total Stockholder Equity = 828.7m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.84% (Net Income 49.2m / Total Assets 1.29b)
RoE = 5.94% (Net Income TTM 49.2m / Total Stockholder Equity 828.7m)
RoCE = 5.08% (EBIT 53.6m / Capital Employed (Equity 828.7m + L.T.Debt 225.7m))
RoIC = 4.46% (NOPAT 47.8m / Invested Capital 1.07b)
WACC = 10.32% (E(1.88b)/V(2.15b) * Re(11.65%) + D(262.4m)/V(2.15b) * Rd(0.82%) * (1-Tc(0.11)))
Discount Rate = 11.65% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.94%
[DCF Debug] Terminal Value 74.12% ; FCFF base≈49.4m ; Y1≈61.0m ; Y5≈103.8m
Fair Price DCF = 18.59 (EV 1.19b - Net Debt 69.2m = Equity 1.12b / Shares 60.3m; r=10.32% [WACC]; 5y FCF grow 25.0% → 2.90% )
EPS Correlation: -34.54 | EPS CAGR: -47.24% | SUE: -4.0 | # QB: 0
Revenue Correlation: 56.49 | Revenue CAGR: 2.18% | SUE: 1.06 | # QB: 2
EPS next Quarter (2026-03-31): EPS=0.31 | Chg30d=+0.000 | Revisions Net=-1 | Analysts=6
EPS next Year (2026-12-31): EPS=1.58 | Chg30d=+0.000 | Revisions Net=+0 | Growth EPS=+17.6% | Growth Revenue=+9.5%