VEECO INSTRUMENTS INC (VECO)
US9224171002 - Common Stock
Taking everything into account, VECO scores 5 out of 10 in our fundamental rating. VECO was compared to 108 industry peers in the Semiconductors & Semiconductor Equipment industry. VECO has only an average score on both its financial health and profitability. VECO is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
VECO had positive earnings in the past year.
In the past year VECO had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: VECO reported negative net income in multiple years.
Of the past 5 years VECO 4 years had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 6.32%, VECO is in the better half of the industry, outperforming 69.44% of the companies in the same industry.
With a decent Return On Equity value of 10.77%, VECO is doing good in the industry, outperforming 69.44% of the companies in the same industry.
The Return On Invested Capital of VECO (6.59%) is better than 70.37% of its industry peers.
VECO had an Average Return On Invested Capital over the past 3 years of 5.78%. This is significantly below the industry average of 11.24%.
The last Return On Invested Capital (6.59%) for VECO is above the 3 year average (5.78%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.32% | ||
| ROE | 10.77% | ||
| ROIC | 6.59% |
ROA(3y)5.07%
ROA(5y)0.93%
ROE(3y)10.1%
ROE(5y)1.45%
ROIC(3y)5.78%
ROIC(5y)N/A
1.3 Margins
With a decent Profit Margin value of 11.34%, VECO is doing good in the industry, outperforming 64.81% of the companies in the same industry.
VECO has a Operating Margin of 12.45%. This is in the better half of the industry: VECO outperforms 68.52% of its industry peers.
In the last couple of years the Operating Margin of VECO has grown nicely.
VECO has a Gross Margin (43.53%) which is comparable to the rest of the industry.
In the last couple of years the Gross Margin of VECO has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 12.45% | ||
| PM (TTM) | 11.34% | ||
| GM | 43.53% |
OM growth 3Y26.53%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0%
GM growth 5Y3.66%
2. Health
2.1 Basic Checks
VECO has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, VECO has more shares outstanding
Compared to 5 years ago, VECO has more shares outstanding
The debt/assets ratio for VECO has been reduced compared to a year ago.
2.2 Solvency
An Altman-Z score of 2.52 indicates that VECO is not a great score, but indicates only limited risk for bankruptcy at the moment.
VECO has a Altman-Z score (2.52) which is comparable to the rest of the industry.
The Debt to FCF ratio of VECO is 6.69, which is on the high side as it means it would take VECO, 6.69 years of fcf income to pay off all of its debts.
VECO has a Debt to FCF ratio (6.69) which is in line with its industry peers.
A Debt/Equity ratio of 0.33 indicates that VECO is not too dependend on debt financing.
The Debt to Equity ratio of VECO (0.33) is worse than 63.89% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.33 | ||
| Debt/FCF | 6.69 | ||
| Altman-Z | 2.52 |
ROIC/WACC0.46
WACC14.22%
2.3 Liquidity
A Current Ratio of 3.54 indicates that VECO has no problem at all paying its short term obligations.
The Current ratio of VECO (3.54) is comparable to the rest of the industry.
VECO has a Quick Ratio of 2.41. This indicates that VECO is financially healthy and has no problem in meeting its short term obligations.
VECO's Quick ratio of 2.41 is in line compared to the rest of the industry. VECO outperforms 55.56% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 3.54 | ||
| Quick Ratio | 2.41 |
3. Growth
3.1 Past
VECO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 17.20%, which is quite good.
The Earnings Per Share has been growing by 41.47% on average over the past years. This is a very strong growth
The Revenue has grown by 9.72% in the past year. This is quite good.
VECO shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.22% yearly.
EPS 1Y (TTM)17.2%
EPS 3Y25.99%
EPS 5Y41.47%
EPS Q2Q%-13.21%
Revenue 1Y (TTM)9.72%
Revenue growth 3Y13.63%
Revenue growth 5Y4.22%
Sales Q2Q%4.2%
3.2 Future
The Earnings Per Share is expected to grow by 5.79% on average over the next years.
Based on estimates for the next years, VECO will show a small growth in Revenue. The Revenue will grow by 6.66% on average per year.
EPS Next Y3.22%
EPS Next 2Y0.97%
EPS Next 3Y5.79%
EPS Next 5YN/A
Revenue Next Year7.5%
Revenue Next 2Y5.07%
Revenue Next 3Y6.66%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 14.59, VECO is valued correctly.
Based on the Price/Earnings ratio, VECO is valued cheaper than 90.74% of the companies in the same industry.
VECO's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.73.
VECO is valuated correctly with a Price/Forward Earnings ratio of 15.49.
Compared to the rest of the industry, the Price/Forward Earnings ratio of VECO indicates a rather cheap valuation: VECO is cheaper than 84.26% of the companies listed in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.83. VECO is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.59 | ||
| Fwd PE | 15.49 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, VECO is valued cheaply inside the industry as 84.26% of the companies are valued more expensively.
VECO's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. VECO is cheaper than 74.07% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 36.95 | ||
| EV/EBITDA | 11.61 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates VECO does not grow enough to justify the current Price/Earnings ratio.
The decent profitability rating of VECO may justify a higher PE ratio.
PEG (NY)4.53
PEG (5Y)0.35
EPS Next 2Y0.97%
EPS Next 3Y5.79%
5. Dividend
5.1 Amount
No dividends for VECO!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
VEECO INSTRUMENTS INC
NASDAQ:VECO (12/20/2024, 8:00:01 PM)
After market: 26.837 0 (-0.01%)26.84
-0.75 (-2.72%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners109.66%
Inst Owner Change1.13%
Ins Owners2.41%
Ins Owner Change0%
Market Cap1.52B
Analysts78.46
Price Target35.7 (33.01%)
Short Float %8.49%
Short Ratio7.58
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-2.03%
Min EPS beat(2)-4.21%
Max EPS beat(2)0.15%
EPS beat(4)3
Avg EPS beat(4)5.71%
Min EPS beat(4)-4.21%
Max EPS beat(4)18.56%
EPS beat(8)7
Avg EPS beat(8)18%
EPS beat(12)11
Avg EPS beat(12)15.79%
EPS beat(16)14
Avg EPS beat(16)14.45%
Revenue beat(2)1
Avg Revenue beat(2)-0.81%
Min Revenue beat(2)-1.98%
Max Revenue beat(2)0.36%
Revenue beat(4)3
Avg Revenue beat(4)-0.16%
Min Revenue beat(4)-1.98%
Max Revenue beat(4)0.66%
Revenue beat(8)6
Avg Revenue beat(8)0.41%
Revenue beat(12)6
Avg Revenue beat(12)-0.03%
Revenue beat(16)10
Avg Revenue beat(16)0.97%
PT rev (1m)-16.38%
PT rev (3m)-18.33%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-16.66%
EPS NY rev (1m)-1.36%
EPS NY rev (3m)-3.04%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-6.49%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.38%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.59 | ||
| Fwd PE | 15.49 | ||
| P/S | 2.15 | ||
| P/FCF | 36.95 | ||
| P/OCF | 23.48 | ||
| P/B | 2.04 | ||
| P/tB | 3.09 | ||
| EV/EBITDA | 11.61 |
EPS(TTM)1.84
EY6.86%
EPS(NY)1.73
Fwd EY6.46%
FCF(TTM)0.73
FCFY2.71%
OCF(TTM)1.14
OCFY4.26%
SpS12.49
BVpS13.15
TBVpS8.68
PEG (NY)4.53
PEG (5Y)0.35
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.32% | ||
| ROE | 10.77% | ||
| ROCE | 8.35% | ||
| ROIC | 6.59% | ||
| ROICexc | 9.46% | ||
| ROICexgc | 14.43% | ||
| OM | 12.45% | ||
| PM (TTM) | 11.34% | ||
| GM | 43.53% | ||
| FCFM | 5.82% |
ROA(3y)5.07%
ROA(5y)0.93%
ROE(3y)10.1%
ROE(5y)1.45%
ROIC(3y)5.78%
ROIC(5y)N/A
ROICexc(3y)8.52%
ROICexc(5y)N/A
ROICexgc(3y)14.1%
ROICexgc(5y)N/A
ROCE(3y)7.31%
ROCE(5y)N/A
ROICexcg growth 3Y10.71%
ROICexcg growth 5YN/A
ROICexc growth 3Y22.09%
ROICexc growth 5YN/A
OM growth 3Y26.53%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0%
GM growth 5Y3.66%
F-Score7
Asset Turnover0.56
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.33 | ||
| Debt/FCF | 6.69 | ||
| Debt/EBITDA | 2.19 | ||
| Cap/Depr | 92.7% | ||
| Cap/Sales | 3.34% | ||
| Interest Coverage | 8.86 | ||
| Cash Conversion | 57.03% | ||
| Profit Quality | 51.3% | ||
| Current Ratio | 3.54 | ||
| Quick Ratio | 2.41 | ||
| Altman-Z | 2.52 |
F-Score7
WACC14.22%
ROIC/WACC0.46
Cap/Depr(3y)121.17%
Cap/Depr(5y)83.47%
Cap/Sales(3y)4.99%
Cap/Sales(5y)3.81%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)17.2%
EPS 3Y25.99%
EPS 5Y41.47%
EPS Q2Q%-13.21%
EPS Next Y3.22%
EPS Next 2Y0.97%
EPS Next 3Y5.79%
EPS Next 5YN/A
Revenue 1Y (TTM)9.72%
Revenue growth 3Y13.63%
Revenue growth 5Y4.22%
Sales Q2Q%4.2%
Revenue Next Year7.5%
Revenue Next 2Y5.07%
Revenue Next 3Y6.66%
Revenue Next 5YN/A
EBIT growth 1Y48.38%
EBIT growth 3Y43.78%
EBIT growth 5YN/A
EBIT Next Year22.36%
EBIT Next 3Y8.39%
EBIT Next 5YN/A
FCF growth 1Y-33.05%
FCF growth 3Y-2.31%
FCF growth 5YN/A
OCF growth 1Y-29.83%
OCF growth 3Y12.77%
OCF growth 5YN/A