VEECO INSTRUMENTS INC VECO

Industrials SIC 3559 - Special Industry Machinery, NEC NAICS Manufacturing › Machinery Manufacturing › Industrial Machinery Manufacturing › Semiconductor Machinery Manufacturing derived Nasdaq

Headquartered in Plainview, New York, we were organized as a Delaware corporation in 1989. We are a manufacturer of advanced semiconductor process equipment that solves an array of challenging materials engineering problems for our customers. Our comprehensive collection of ion beam, laser annealing, metal organic chemical vapor deposition ("MOCVD"), chemical vapor deposition ("CVD"), advanced packaging lithography, single wafer wet processing, molecular beam epitaxy ("MBE"), and atomic layer deposition ("ALD") technologies play an integral role in the fabrication of key devices that are enabling the 4th industrial revolution of all things connected. Such devices include leading advanced node application processors for AI chips, high-performance computing, mobile devices, high-speed data communications, and radio frequency ("RF") filters and power amplifiers for fifth generation ("5G") networks and mobile electronics, photonics devices for 3D sensing, advanced displays, and thin film magnetic heads for hard disk drives in data storage. In close partnership with our customers, we combine decades of applications and materials know-how with leading-edge systems engineering to deliver high-volume manufacturing solutions with competitive cost of ownership. Serving a global and highly interconnected customer base, we have comprehensive sales and service operations across the Asia-Pacific, Europe, and North America regions to ensure real-time close collaboration and responsiveness.

Last close 42.06 2026-10-23
Market cap $2.57B 2026-06-30 share count
52-week range 26.00 - 86.63

Valuation FY2025 figures against the last close

P/S3.9x
P/E71.3x
P/FCF48.2x
EV/EBITDA43.2x
Dividend yield—
Diluted EPS0.59

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • Rest of APAC
  • China
  • United States
  • Emea
  • Other
Revenue by geography, 5 categories over 3 years. The same figures are in the table below. FY2025 Rest of APAC, FY2025: 330.2M (49.7%) 50% Rest of APAC China, FY2025: 181.8M (27.4%) 27% China United States, FY2025: 101.4M (15.3%) 15% United States Emea, FY2025: 50.8M (7.6%) 8% Emea Other, FY2025: 118K (0.0%) FY2024 Rest of APAC, FY2024: 234.6M (32.7%) 33% China, FY2024: 255.6M (35.6%) 36% United States, FY2024: 164.6M (22.9%) 23% Emea, FY2024: 61.7M (8.6%) 9% Other, FY2024: 797K (0.1%) FY2023 Rest of APAC, FY2023: 208.7M (31.3%) 31% China, FY2023: 217.9M (32.7%) 33% United States, FY2023: 162.8M (24.4%) 24% Emea, FY2023: 76.7M (11.5%) 12% Other, FY2023: 313K (0.0%)
Region FY2025FY2024FY2023
Rest of APAC $330.2M $234.6M $208.7M
China $181.8M $255.6M $217.9M
United States $101.4M $164.6M $162.8M
Emea $50.8M $61.7M $76.7M
Other $118.0K $797.0K $313.0K

As the company reported it, from the “Segment Reporting and Geographic Information - Geographic (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $664.3M$717.3M$666.4M$646.1M$583.3M$454.2M$419.3M$542.1M$475.7M$331.7M
Cost of revenue $398.9M$413.3M$381.4M$383.0M$341.0M$259.9M$261.2M$348.4M$299.5M$198.6M
Gross profit $265.4M$304.0M$285.1M$263.1M$242.3M$194.3M$158.2M$193.7M$176.2M$133.1M
R&D $119.6M$124.5M$112.9M$103.6M$88.7M$79.0M$90.6M$97.8M$82.0M$81.0M
SG&A $98.9M$99.7M$92.8M$89.0M$84.5M$76.3M$79.7M$92.1M$100.2M$77.6M
Total operating expenses $229.7M$237.0M$215.1M$202.9M$185.6M$171.7M$197.8M$609.2M$248.1M$253.3M
Operating income $35.7M$67.0M$69.9M$60.3M$56.7M$22.6M-$39.6M-$415.5M-$71.9M-$120.2M
Interest expense $9.1M$11.0M$11.8M$11.5M$28.4M$24.7M$22.1M$21.5M$19.5M$222.0K
Pre-tax income $39.4M$68.8M-$28.3M$51.0M$25.7M-$8.5M-$78.0M-$433.8M-$89.0M-$119.2M
Income tax $4.0M$4.9M$2.0M$116.0M$358.0K$73.0K$777.0K$26.7M$37.6M$2.8M
Net income $35.4M$73.7M-$30.4M$166.9M$26.0M-$8.4M-$78.7M-$407.1M-$51.4M-$122.0M
EPS, basic 0.601.31-0.563.350.53-0.17-1.66-8.63-1.16-3.10
EPS, diluted 0.591.23-0.562.710.49-0.17-1.66-8.63-1.16-3.10
Shares, diluted (wtd. avg.) 60.6M61.6M53.8M65.6M53.6M48.4M47.5M47.2M44.2M39.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $163.5M$145.6M$159.1M$155.5M$120.5M$130.3M$130.0M$213.1M$280.6M$277.4M
Short-term investments $226.8M$198.7M$146.7M$147.5M$104.2M$189.8M$115.3M$48.2M$47.8M$66.8M
Receivables $110.7M$96.8M$103.0M$124.2M$109.6M$80.0M$45.7M$66.8M$98.9M$58.0M
Inventory $275.3M$246.7M$237.6M$206.9M$170.9M$145.9M$133.1M$156.3M$120.3M$77.1M
Total current assets $845.3M$764.5M$706.3M$668.9M$549.4M$586.9M$475.9M$520.1M$597.1M$501.5M
Property, plant and equipment $108.6M$113.8M$118.5M$107.3M$99.7M$65.3M$75.7M$80.3M$85.1M$60.6M
Goodwill $215.0M$215.0M$215.0M$181.9M$181.9M$181.9M$181.9M$184.3M$307.1M$114.9M
Other intangibles $5.7M$8.8M$43.9M$23.9M$33.9M$46.2M$61.5M$85.1M$369.8M$58.4M
Total assets $1.33B$1.25B$1.23B$1.13B$899.0M$898.1M$818.1M$900.8M$1.39B$758.5M
Accounts payable $55.3M$43.5M$42.4M$52.0M$44.5M$33.7M$21.3M$39.6M$50.3M$22.6M
Short-term debt —$26.5M—$20.2M—————$368.0K
Total current liabilities $178.1M$192.3M$218.0M$257.9M$189.2M$146.7M$118.2M$160.1M$224.3M$143.5M
Long-term debt $226.0M$249.7M$274.9M$254.5M$229.4M$321.1M$300.1M$287.4M$275.6M$826.0K
Total liabilities $440.3M$480.8M$556.6M$550.4M$461.3M$489.7M$443.6M$463.0M$547.4M$163.9M
Retained earnings -$423.1M-$458.5M-$532.2M-$501.8M-$681.3M-$707.3M-$698.9M-$620.0M-$212.9M-$168.6M
Total equity $885.5M$770.8M$672.4M$577.8M$437.6M$408.4M$374.5M$437.8M$840.1M$601.7M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $69.5M$63.8M$61.7M$108.5M$67.7M$43.0M-$7.4M-$37.7M$35.0M-$23.8M
Depreciation and amortisation $20.0M$25.1M$25.0M$25.6M$26.1M$30.7M$34.4M$50.0M$50.1M$32.6M
Stock-based compensation $37.0M$35.9M$28.6M$23.0M$15.2M$12.7M$15.3M$16.1M$24.4M$15.7M
Capital expenditure $16.2M$18.1M$27.9M$24.6M$40.6M$6.8M$10.9M$12.7M$24.3M$11.5M
Investing cash flow -$41.5M-$64.5M-$53.3M-$68.9M$44.5M-$71.8M-$75.9M-$18.3M-$357.8M$46.7M
Financing cash flow -$10.5M-$12.6M-$4.7M-$4.5M-$122.0M$29.1M$126.0K-$11.5M$325.9M-$14.6M
Buybacks ———————$11.5M$2.9M$13.3M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-019711.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -500M 0 500M 1B Revenue, FY2016: 331.7M Gross profit, FY2016: 133.1M Net income, FY2016: -122M Revenue, FY2017: 475.7M Gross profit, FY2017: 176.2M Net income, FY2017: -51.4M Revenue, FY2018: 542.1M Gross profit, FY2018: 193.7M Net income, FY2018: -407.1M Revenue, FY2019: 419.3M Gross profit, FY2019: 158.2M Net income, FY2019: -78.7M Revenue, FY2020: 454.2M Gross profit, FY2020: 194.3M Net income, FY2020: -8.4M Revenue, FY2021: 583.3M Gross profit, FY2021: 242.3M Net income, FY2021: 26M Revenue, FY2022: 646.1M Gross profit, FY2022: 263.1M Net income, FY2022: 166.9M Revenue, FY2023: 666.4M Gross profit, FY2023: 285.1M Net income, FY2023: -30.4M Revenue, FY2024: 717.3M Gross profit, FY2024: 304M Net income, FY2024: 73.7M Revenue, FY2025: 664.3M Gross profit, FY2025: 265.4M Net income, FY2025: 35.4M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $331.7M $475.7M $542.1M $419.3M $454.2M $583.3M $646.1M $666.4M $717.3M $664.3M
Gross profit $133.1M $176.2M $193.7M $158.2M $194.3M $242.3M $263.1M $285.1M $304.0M $265.4M
Net income -$122.0M -$51.4M -$407.1M -$78.7M -$8.4M $26.0M $166.9M -$30.4M $73.7M $35.4M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Shareholder vote Item 5.07
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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