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VEECO INSTRUMENTS INC VECO

Nasdaq · stock · Special Industry Machinery, NEC · website · IPO 1994-01-01 · LEI

VEECO INSTRUMENTS INC statistics & valuation

Market cap$4.6B
P / E129.7×
P / S6.9×
P / B5.2×
P / FCF86.1×
Net margin5.3%
Return on equity4.0%
FCF margin8.0%
Net debt$62.5M
Net debt / EBITDA1.1×
Enterprise value USD$4.7B
EV / EBITDA83.5×
Earnings yield EBIT/EV0.8%
Return on capital3.1%
Graham number -73.8%$13.93

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($13.93); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
-75.10% -18.80% -1.80% 4.50% 25.80% -4.60% 10.30% 5.30% 2016201720182019202020212022202320242025
Gross margin (%)
40.00% 36.40% 35.70% 37.70% 42.80% 41.50% 40.70% 42.80% 42.40% 40.00% 2016201720182019202020212022202320242025
Operating margin (%)
-36.10% -14.80% -76.60% -9.40% 5.00% 9.70% 9.30% 10.50% 9.30% 5.40% 2016201720182019202020212022202320242025
Return on equity (%)
-93.00% -21.00% -2.10% 5.90% 28.90% -4.50% 9.60% 4.00% 2016201720182019202020212022202320242025
Shares outstanding
40.6M 48.1M 48.0M 49.0M 49.7M 53.6M 65.6M 56.4M 61.6M 60.6M 2016201720182019202020212022202320242025
Net debt ($)
-$276.2M -$4.1M $75.1M $170.8M $191.5M $109.7M $119.7M $116.2M $130.6M $62.5M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
-45.20% -9.60% -0.90% 2.90% 14.80% -2.50% 5.90% 2.70% 2016201720182019202020212022202320242025
Free cash flow margin (%)
-10.60% 2.20% -9.30% -4.40% 8.00% 4.60% 13.00% 5.10% 6.40% 8.00% 2016201720182019202020212022202320242025
Debt / equity (×)
0.00× 0.33× 0.66× 0.80× 0.79× 0.52× 0.48× 0.41× 0.36× 0.26× 2016201720182019202020212022202320242025
EPS ($)
-$3.10 -$1.16 -$8.63 -$1.66 -$0.17 $0.49 $2.71 -$0.56 $1.23 $0.59 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

VEECO INSTRUMENTS INC trades at about 90.3× earnings — above its 10-year norm (10-year range 7.3×–56.1×, median 39.8×).

7.3× 90.3×

Shaded band = 10-year range (7.3×–56.1×); dot = today's 90.3×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin40.0%42.4%42.8%40.7%41.5%42.8%37.7%35.7%36.4%40.0%
Operating margin5.4%9.3%10.5%9.3%9.7%5.0%-9.4%-76.6%-14.8%-36.1%
Net margin5.3%10.3%-4.6%25.8%4.5%-1.8%-18.8%-75.1%——
FCF margin8.0%6.4%5.1%13.0%4.6%8.0%-4.4%-9.3%2.2%-10.6%
Return on assets2.7%5.9%-2.5%14.8%2.9%-0.9%-9.6%-45.2%——
Return on equity4.0%9.6%-4.5%28.9%5.9%-2.1%-21.0%-93.0%——
Debt / equity0.26×0.36×0.41×0.48×0.52×0.79×0.80×0.66×0.33×0.00×
Current ratio4.753.983.242.592.904.004.033.252.663.49

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.