Upside case
Bull case
$461+13.5%
MKSI would need investors to value it at roughly 39x earnings — about 5x more generous than today's 35x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated Jun 18, 2026
MKS Inc. (MKSI) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
29
analysts
24 bullish · 2 bearish · 29 covering MKSI
Strong Buy
0
Buy
24
Hold
3
Sell
2
Strong Sell
0
Consensus Target
$322
-20.8% vs today
Scenario Range
$221 – $461
Model bear to bull value window
Coverage
29
Published analyst ratings
Valuation Context
34.7x
Forward P/E · Market cap $27.4B
MKSI price targets
Three scenarios for where MKSI stock could go
Current
~$406
Confidence
48 / 100
Updated
Jun 18, 2026
Where we are now
Current · $406
Bear
$221
Base
$350
Bull
$461
Market caseClosest to today
Base case
$350-13.9%
At 30x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$221-45.7%
If investor confidence fades or macro conditions deteriorate, a 16x multiple contraction could push MKSI down roughly 46% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
MKS Inc.
MKSI · NASDAQTechnologyHardware, Equipment & PartsDecember year-end
MKS Inc. is a technology company that provides precision instruments and process control solutions for advanced manufacturing — particularly in semiconductor fabrication and other high-tech industries. It generates revenue primarily through two segments: Vacuum & Analysis (roughly 60% of sales) for pressure control and plasma systems, and Light & Motion (roughly 40%) for lasers and photonics equipment. The company's moat lies in its deep expertise in critical process control parameters and its entrenched position in semiconductor manufacturing ecosystems where precision and reliability are paramount.
Market Cap
$27.4B
Revenue TTM
$4.1B
Net Income TTM
$327M
Net Margin
8.0%
MKSI Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
100%Exceptional
12 quarters tracked
Revenue Beat Rate
92%Exceptional
vs consensus estimates
Avg EPS Surprise
+23.3%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$1.77/$1.61
Revenue
$973M/$946M
Q4 2025
EPS
$1.93/$1.85
Revenue
$988M/$968M
Q1 2026
EPS
$2.47/$2.46
Revenue
$1.0B/$1.0B
Q2 2026
EPS
$2.30/$2.04
Revenue
$1.1B/$1.0B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $1.77/$1.61 | +9.9% | $973M/$946M | +2.8% |
| Q4 2025 | $1.93/$1.85 | +4.3% | $988M/$968M | +2.1% |
| Q1 2026 | $2.47/$2.46 | +0.4% | $1.0B/$1.0B | +1.1% |
| Q2 2026 | $2.30/$2.04 | +12.7% | $1.1B/$1.0B | +3.1% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$4.5B
+11.3% YoY
FY2
$5.1B
+13.0% YoY
EPS Outlook
FY1
$6.65
+44.5% YoY
FY2
$7.78
+17.0% YoY
Trailing FCF (TTM)$401M
FCF Margin: 9.8%
Next Earnings
August 5, 2026
Expected EPS
$2.92
Expected Revenue
$1.2B
MKSI beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
MKSI Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $3.9B
Product Mix
Latest annual revenue by segment or product family
Product
87.4%
+10.0% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Other countries
26.3%
+10.6% YoY
Tap, hover, or focus a slice to inspect segment detail.
Product is the largest disclosed segment at 87.4% of FY 2025 revenue, up 10.0% YoY.
Other countries is the largest reported region at 26.3%, up 10.6% YoY.
MKSI Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Cheap versus peers
Fair value est. $494 — implies +21.6% from today's price.
Upside to Fair Value
21.6%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
MKSI
93.0x
vs
S&P 500
24.4x
+280% premium
vs Technology Trailing P/E
MKSI
93.0x
vs
Technology
29.0x
+221% premium
vs MKSI 5Y Avg P/E
Today
93.0x
vs
5Y Average
26.6x
+249% premium
Forward PE
34.7x
S&P 500
18.8x
+85%
Technology
22.3x
+56%
5Y Avg
—
—
Trailing PE
93.0x
S&P 500
24.4x
+280%
Technology
29.0x
+221%
5Y Avg
26.6x
+249%
PEG Ratio
—
S&P 500
1.66x
—
Technology
1.51x
—
5Y Avg
—
—
EV/EBITDA
34.5x
S&P 500
15.2x
+127%
Technology
16.6x
+108%
5Y Avg
13.2x
+161%
Price/FCF
55.0x
S&P 500
20.7x
+166%
Technology
19.2x
+187%
5Y Avg
20.0x
+175%
Price/Sales
7.0x
S&P 500
3.1x
+125%
Technology
2.4x
+185%
5Y Avg
2.3x
+207%
Dividend Yield
0.21%
S&P 500
1.91%
-89%
Technology
1.11%
-81%
5Y Avg
0.75%
-71%
| Metric | MKSI | S&P 500 | Technology | 5Y Avg MKSI |
|---|---|---|---|---|
| Forward PE | 34.7x | 18.8x+85% | 22.3x+56% | — |
| Trailing PE | 93.0x | 24.4x+280% | 29.0x+221% | 26.6x+249% |
| PEG Ratio | — | 1.66x | 1.51x | — |
| EV/EBITDA | 34.5x | 15.2x+127% | 16.6x+108% | 13.2x+161% |
| Price/FCF | 55.0x | 20.7x+166% | 19.2x+187% | 20.0x+175% |
| Price/Sales | 7.0x | 3.1x+125% | 2.4x+185% | 2.3x+207% |
| Dividend Yield | 0.21% | 1.91% | 1.11% | 0.75% |
MKSI trades above S&P 500 benchmarks on 5 of 5 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolMKSI Financial Health
Verdict
Strong
MKSI generates $401M in free cash flow at a 9.8% margin.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$4.1B
Revenue Growth
TTM vs prior year
+11.5%
Gross Margin
Gross profit as a share of revenue
45.2%
Operating Margin
Operating income divided by revenue
14.8%
Net Margin
Net income divided by revenue
8.0%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$4.60
Free Cash Flow (TTM)
Cash generation after capex
$401M
FCF Margin
FCF as share of revenue — the primary cash quality signal
9.8%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
6.5%
ROA
Return on assets, trailing twelve months
3.7%
Cash & Equivalents
Liquid assets on the balance sheet
$675M
Net Debt
Total debt minus cash
$4.0B
Debt Serviceability
Net debt as a multiple of annual free cash flow
10.0× FCF
~10.0 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
12.2%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.4%
Dividend
0.2%
Buyback
0.2%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$45M
Dividend / Share
Annualized trailing dividend per share
$0.87
Payout Ratio
Share of earnings distributed as dividends
20.0%
Shares Outstanding
Declining as buybacks retire shares
67M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageMKSI Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated June 18, 2026
High Risk
Financial Risk
Massive debt and high financial risk overshadow MKS Instruments' critical role in semiconductors.
Medium
Sector Exposure
MKS Inc.'s heavy reliance on semiconductor manufacturing exposes it to cyclical industry downturns.
Medium
Competitive Positioning
Analysts highlight competitive positioning as a key factor when evaluating MKSI's stock performance.
Lower
Revenue Growth Uncertainty
Revenue growth trends are a consideration for analysts, indicating potential variability in future performance.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why MKSI Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated June 18, 2026
Strong Financial Performance
MKS Inc. reported significant revenue and net income growth in Q1 2026, with earnings per share rising to $1.24, exceeding analyst expectations.
Semiconductor Industry Growth
MKS provides foundational technology solutions for semiconductor manufacturing, positioning it to benefit from increasing demand in the sector.
Positive Analyst Forecasts
AI models predict a bullish stock price target of $383.53 for 2026, indicating potential upside from current levels.
Technological Leadership
MKS enables transformative technologies in semiconductor manufacturing and electronics, reinforcing its competitive edge in high-growth markets.
Margin Expansion Potential
Bull case scenarios highlight opportunities for margin leverage and EPS growth above consensus, driven by operational efficiencies and market demand.
Strategic Refinancing
A February refinancing strengthened the company's financial position, supporting future growth initiatives and capital flexibility.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
MKSI Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$406.37
52W Range Position
99%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$88.49
+359.2% from the low
52-Week High
$408.68
-0.6% from the high
1 Month
+37.43%
3 Month
+74.12%
YTD
+141.4%
1 Year
+340.9%
3Y CAGR
+56.5%
5Y CAGR
+19.3%
10Y CAGR
+25.6%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
MKSI vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
34.7x
vs 46.5x median
-25% below peer median
Revenue Growth
+11.3%
vs +5.8% median
+94% above peer median
Net Margin
8.0%
vs 6.9% median
+16% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
MKS MKSI MKS Inc. | $27.4B | 34.7x | +11.3% | 8.0% | Buy | -20.8% |
ENT ENTG Entegris, Inc. | $27.2B | 49.1x | +5.1% | 8.2% | Buy | -14.6% |
ICH ICHR Ichor Holdings, Ltd. | $3.4B | 71.5x | +8.5% | -5.3% | Buy | -44.6% |
ONT ONTO Onto Innovation Inc. | $16.6B | 46.5x | +11.5% | 10.3% | Buy | +1.5% |
NOV NOVT Novanta Inc. | $5.5B | 43.3x | +5.8% | 5.3% | Buy | +15.9% |
FEL FELE Franklin Electric Co., Inc. | $4.6B | 22.7x | +5.5% | 6.9% | Hold | -4.0% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
MKSI Dividend and Capital Return
MKSI returns 0.4% total yield, led by a 0.21% dividend.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
0.4%
Dividend + buyback return per year
Buyback Yield
0.2%
Dividend Yield
0.21%
Payout Ratio
20.0%
How MKSI Splits Its Return
Div 0.21%
Buyback 0.2%
Dividend 0.21%Buybacks 0.2%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.87
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
0.0%
5Y Div CAGR
1.9%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$45M
Estimated Shares Retired
110.7K
Approx. Share Reduction
0.2%
Shares Outstanding
Current diluted share count from the screening snapshot
67M
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.50 | — | — | — |
| 2025 | $0.88 | 0.0% | 0.4% | 1.0% |
| 2024 | $0.88 | 0.0% | 0.0% | 0.8% |
| 2023 | $0.88 | 0.0% | 0.0% | 0.9% |
| 2022 | $0.88 | +2.3% | 0.0% | 1.0% |
FAQ
7 questionsMKSI Investor Questions
Common questions answered from live analyst data and company financials.
01Is MKS Inc. (MKSI) stock a buy or sell in 2026?
MKS Inc. (MKSI) is rated Buy by Wall Street analysts as of 2026. Of 29 analysts covering the stock, 24 rate it Buy or Strong Buy, 3 rate it Hold, and 2 rate it Sell or Strong Sell. The consensus 12-month price target is $322, implying -20.8% from the current price of $406. The bear case scenario is $221 and the bull case is $461.
02What is the MKSI stock price target for 2026?
The Wall Street consensus price target for MKSI is $322 based on 29 analyst estimates. The high-end target is $400 (-1.6% from today), and the low-end target is $175 (-56.9%). The base case model target is $350.
03Is MKS Inc. (MKSI) stock overvalued in 2026?
MKSI trades at 34.7x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals cheap versus peers. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for MKS Inc. (MKSI) stock in 2026?
The primary risks for MKSI in 2026 are: (1) Financial Risk — Massive debt and high financial risk overshadow MKS Instruments' critical role in semiconductors. (2) Sector Exposure — MKS Inc. (3) Competitive Positioning — Analysts highlight competitive positioning as a key factor when evaluating MKSI's stock performance. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is MKS Inc.'s revenue and earnings forecast?
Analyst consensus estimates MKSI will report consensus revenue of $4.5B (+11.3% year-over-year) and EPS of $6.65 (+44.5% year-over-year) for the upcoming fiscal year. The following year, analysts project $5.1B in revenue.
06When does MKS Inc. (MKSI) report its next earnings?
MKS Inc. is expected to report its next earnings on approximately 2026-08-05. Consensus expects EPS of $2.92 and revenue of $1.2B. Over recent quarters, MKSI has beaten EPS estimates 100% of the time.
07How much free cash flow does MKS Inc. generate?
MKS Inc. (MKSI) generated $401M in free cash flow over the trailing twelve months — a free cash flow margin of 9.8%. MKSI returns capital to shareholders through dividends (0.2% yield) and share repurchases ($45M TTM).