Veeco Instruments Inc. (VECO) is a publicly traded company in the Technology — Semiconductors industry listed on NASDAQ. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Veeco Instruments Inc., operating globally with its subsidiaries, specializes in the engineering, production, sale, and support of advanced semiconductor and thin film process equipment used primarily in the manufacture of electronic devices.
Analysis Summary
Veeco Instruments Inc. reported revenue of $664.3M in the most recent fiscal year, growing at a 5-year CAGR of 7.9%.
Trailing-twelve-month margins: gross margin 37.8%, operating margin 3.3%, net margin 3.4%. Free cash flow grew at 4.8% CAGR over 5 years.
At the current price of $41.04, VECO trades at a P/E of 106.94 and an ROE of 2.62%. Market capitalisation stands at $2.5B.
Balance sheet quality for VECO: current ratio of 4.7, net cash position of $128.2M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is strong: free cash flow of $45.7M represents 129% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Price
| Price | $41.04 |
| Market Cap | $2.5B |
| Exchange | NASDAQ |
| Country | US |
Valuation Ratios
| P/E Ratio | 106.94 |
| Price / Book | 2.77 |
| EV / EBITDA | 47.53 |
| Dividend Yield | 0.00% |
Profitability
| Return on Equity | 2.62% |
| Return on Invested Capital | 1.89% |
| Return on Assets | 1.64% |
| Gross Margin | 37.81% |
| Operating Margin | 3.26% |
| Net Margin | 3.40% |
Financial Health
| Debt / Equity | 0.28 |
| Current Ratio | 3.93 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 3.06 |
What to look at in Technology companies
- Revenue growth 3y (>=15%/year) — Validates sustained traction, not a one-off.
- Gross margin (Sub-sector dependent) — SaaS >=70%, Internet >=55%, Semis >=45%, Hardware >=35%.
- FCF / Revenue (>=20%) — Real cash generated. Many tech firms dress up non-GAAP earnings.
- ROIC (>=15%) — Capital reinvested efficiency — Buffett's first metric.
- SBC / Revenue (<10% healthy) — Stock-based compensation. Silent dilution: >20% destroys value.
- Net Debt / EBITDA (<=2x (1.5x SaaS)) — Resilience in downturns and rate hikes.
Peer Comparison
| Symbol | Company | Market Cap | P/E | P/B | ROE |
|---|---|---|---|---|---|
| VECO | Veeco Instruments Inc. | $2.5B | 106.94 | 2.77 | 2.6% |
| AAOI | Applied Optoelectronics, Inc. | $7.7B | 4.66 | -5.6% | |
| LASR | nLIGHT, Inc. | $2.2B | 4.83 | -3.8% | |
| BELFB | Bel Fuse Inc. | $3.0B | 57.94 | 3.47 | 11.0% |
| HIMX | Himax Technologies, Inc. | $2.3B | 58.97 | 2.27 | 3.9% |
| DV | DoubleVerify Holdings, Inc. | $2.1B | 36.46 | 1.90 | 5.4% |
Price Performance
| 1 month | -19.39% |
| 3 months | -48.47% |
| Year-to-date | +43.60% |
| 1 year | +51.16% |
| 3 years | +52.62% |
52-Week Range
| 52-week High | $86.63 |
| 52-week Low | $26.00 |
| Avg Volume (90d) | 1.1M |
Related companies: AAOI · BELFB · DQ · DV · EVTC · HIMX · LASR
Explore sector: Technology · Semiconductors
More sections of VECO: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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