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VECOVeeco Instruments Inc.
$44.36$2.7B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
VECO logo

Veeco Instruments Inc.

VECO
NASDAQ · Semiconductors
$44.36
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$2.71B
P/E75.2x
52W High$86.63
Volume828.41K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Revenue Rebound Masks Structural Margin Erosion Risk

Veeco's 2026Q2 revenue surge to $193.5M (up 16.5% QoQ) and deferred revenue jump to $123.7M suggest a potential order-driven recovery, yet gross margin at 38.7% remains 450bps below the 2024Q1 peak of 43.2%, indicating persistent pricing or mix pressure. The b...

GrowthDecelerating
ProfitabilityStrained
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

VECO price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

9/12 Beats

EPS beat 9 of last 12 quarters

02

Valuation risk

+37% Peers

P/E is 37% above peer median

03

Market leadership

RS 53 · Avg

Average momentum (RS Rating: 53)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Nov 5

Market performance

Price History →

Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
VECO+45.25%
S&P 500 (^GSPC)+13.20%
1-Year Return
VECO+52.07%
S&P 500 (^GSPC)+15.98%
3-Year Return
VECO+67.71%
S&P 500 (^GSPC)+78.97%
5-Year Return
VECO+100.63%
S&P 500 (^GSPC)+72.58%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
75.2x
Forward P/EExpansion
29.6x
EV/EBITDA100th %ile
72.2x
FCF YieldCash Flow
1.7%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
75.2x
48.4x
100th· High
EV/EBITDA
72.2x
19.8x
100th· High
Price/FCF
59.2x
37.9x
100th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$4.64-89.5%
Base (Fair)$36.18-15.3%
Bull$11.56-73.9%
$4.64 Bear$36.18 Base$11.56 Bull
Current Market Price: $44.36
Trades at a 22.6% premium to Base DCF ($36.18)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$664M-7.4% YoY
Net income
$35M-52.0% YoY
Free cash flow
$46M+0.0% YoY
Operating margin
5.4%-4.0 pts YoY
ROIC (TTM)2.8%
Avg ROIC 5Y-
ROE (TTM)4.3%
Piotroski Score6 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate9/12 (75%)
Revenue Beat Rate8/12 (67%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 5, 2026
$0.33+28.0%
vs $0.26
$193M+7.4%
vs $180M
Q2 2026
May 5, 2026
$0.14-30.0%
vs $0.20
$158M-1.1%
vs $160M
Q1 2026
Feb 25, 2026
$0.24-4.0%
vs $0.25
$165M-0.0%
vs $165M
Q4 2025
Nov 5, 2025
$0.36+28.6%
vs $0.28
$166M-0.2%
vs $166M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Defense World·Sep 16, 2026
Head-To-Head Review: Marvell Technology (NASDAQ:MRVL) vs. Veeco Instruments (NASDAQ:VECO)

Veeco Instruments (NASDAQ: VECO - Get Free Report) and Marvell Technology (NASDAQ: MRVL - Get Free Report) are both technology companies, but which is the better business? We will contrast the two companies based on the strength of their valuation, risk, dividends, analyst recommendations, profitability, institutional ownership and earnings. Institutional and Insider Ownership 98.5% of Veeco Instruments

Zacks Investment Research·Sep 2, 2026
Implied Volatility Surging for Veeco Instruments Stock Options

Investors need to pay close attention to VECO stock based on the movements in the options market lately.

Defense World·Aug 31, 2026
Veeco Instruments Inc. (NASDAQ:VECO) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Veeco Instruments Inc. (NASDAQ: VECO - Get Free Report) have earned an average recommendation of "Hold" from the six brokerages that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target

Defense World·Aug 25, 2026
71,199 Shares in Veeco Instruments Inc. $VECO Acquired by Deutsche Bank AG

Deutsche Bank AG acquired a new stake in shares of Veeco Instruments Inc. (NASDAQ: VECO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 71,199 shares of the semiconductor company's stock, valued at approximately $5,397,000. Deutsche Bank AG

Filtered for Veeco Instruments Inc.More Headlines
04

Compare before deciding

Benchmark VECO against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Veeco Instruments Inc. (VECO)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
VECO logoVECOVeeco Instruments Inc.Current
$44.36$2.71B75.19-7.39%5.33%4.27%—
UCTT logoUCTTUltra Clean Holdings, Inc.
$76.55$3.43B-19.14-2.08%-1.07%-3.14%—
ACMR logoACMRACM Research, Inc.
$75.80$4.86B55.3315.24%14.48%7.24%—
ONTO logoONTOOnto Innovation Inc.
$283.81$14.12B102.091.82%11.84%6.5%—
AXTI logoAXTIAXT, Inc.
$77.79$3.95B-158.76-11.11%3.23%0.87%—
COHU logoCOHUCohu, Inc.
$64.54$3.04B-40.5912.74%-7.43%-4.91%—

Compare VECO vs Peers

Veeco Instruments Inc. (VECO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs UCTT

Most directly comparable listed peer for VECO.

Scale Benchmark

vs TSM

Larger-name benchmark to compare VECO against a more recognizable public peer.

Peer Set

Compare Top 5

vs UCTT, ACMR, ONTO, AXTI

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

VECO SEC Filings & Documents

Veeco Instruments Inc. (VECO) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 5, 2026·SEC

Material company update

May 7, 2026·SEC

Material company update

May 5, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 25, 2026·SEC

FY 2025

Feb 14, 2025·SEC

FY 2024

Feb 16, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 5, 2026·SEC

FY 2026

May 5, 2026·SEC

FY 2025

Nov 5, 2025·SEC

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VECO Frequently Asked Questions

Veeco Instruments Inc. (VECO) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Veeco Instruments Inc.'s revenue?

Veeco Instruments Inc. (VECO) reported $682.7M in revenue for fiscal year 2025. This represents a 605% increase from $96.8M in 1996.

How fast is Veeco Instruments Inc. growing?

Veeco Instruments Inc. (VECO) saw revenue decline by 7.4% over the past year.

Is VECO profitable?

Yes, Veeco Instruments Inc. (VECO) is profitable, generating $23.2M in net income for fiscal year 2025 (5.3% net margin).

Dividend & Returns
What is VECO's return on equity?

Veeco Instruments Inc. (VECO) has a return on equity (ROE) of 4.3%. This is below average, suggesting room for improvement.

What is Veeco Instruments Inc.'s free cash flow?

Veeco Instruments Inc. (VECO) generated $88.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in VECO back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →