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Veeco Instrs Inc Del Financials

VECO
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Veeco Instrs Inc Del (VECO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 52 / 100
Financial Profile 52/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
34

Veeco Instrs Inc Del has an operating margin of 5.4%, meaning the company retains $5 of operating profit per $100 of revenue. This results in a moderate score of 34/100, indicating healthy but not exceptional operating efficiency. This is down from 9.3% the prior year.

Growth
21

Veeco Instrs Inc Del's revenue declined 7.4% year-over-year, from $717.3M to $664.3M. This contraction results in a growth score of 21/100.

Leverage
97

Veeco Instrs Inc Del carries a low D/E ratio of 0.26, meaning only $0.26 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
95

With a current ratio of 4.75, Veeco Instrs Inc Del holds $4.75 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 95/100.

Cash Flow
45

Veeco Instrs Inc Del has a free cash flow margin of 8.0%, earning a moderate score of 45/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
20

Veeco Instrs Inc Del generates a 4.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 20/100. This is down from 9.6% the prior year.

Altman Z-Score Safe
3.57

Veeco Instrs Inc Del scores 3.57, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($2.1B) relative to total liabilities ($440.3M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
5/9

Veeco Instrs Inc Del passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
1.96x

For every $1 of reported earnings, Veeco Instrs Inc Del generates $1.96 in operating cash flow ($69.5M OCF vs $35.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate
4.4x

Veeco Instrs Inc Del earns $4.4 in operating income for every $1 of interest expense ($35.7M vs $8.1M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue
$664.3M
YoY-7.4%
5Y CAGR+7.9%
10Y CAGR+3.4%

Veeco Instrs Inc Del generated $664.3M in revenue in fiscal year 2025. This represents a decrease of 7.4% from the prior year.

EBITDA
$55.7M
YoY-39.5%
5Y CAGR+0.9%
10Y CAGR+12.9%

Veeco Instrs Inc Del's EBITDA was $55.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 39.5% from the prior year.

Net Income
$35.4M
YoY-52.0%

Veeco Instrs Inc Del reported $35.4M in net income in fiscal year 2025. This represents a decrease of 52.0% from the prior year.

EPS (Diluted)
$0.59
YoY-52.0%

Veeco Instrs Inc Del earned $0.59 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 52.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$53.3M
YoY+16.6%
5Y CAGR+8.0%
10Y CAGR+39.6%

Veeco Instrs Inc Del generated $53.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 16.6% from the prior year.

Cash & Debt
$163.5M
YoY+12.3%
5Y CAGR+4.7%
10Y CAGR-4.9%

Veeco Instrs Inc Del held $163.5M in cash against $226.0M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
60M
YoY+4.2%
5Y CAGR+4.0%
10Y CAGR+4.2%

Veeco Instrs Inc Del had 60M shares outstanding in fiscal year 2025. This represents an increase of 4.2% from the prior year.

Margins & Returns

Gross Margin
40.0%
YoY-2.4pp
5Y CAGR-2.8pp
10Y CAGR+2.8pp

Veeco Instrs Inc Del's gross margin was 40.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.4 percentage points from the prior year.

Operating Margin
5.4%
YoY-4.0pp
5Y CAGR+0.4pp
10Y CAGR+10.3pp

Veeco Instrs Inc Del's operating margin was 5.4% in fiscal year 2025, reflecting core business profitability. This is down 4.0 percentage points from the prior year.

Net Margin
5.3%
YoY-5.0pp
5Y CAGR+7.2pp
10Y CAGR+12.0pp

Veeco Instrs Inc Del's net profit margin was 5.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 5.0 percentage points from the prior year.

Return on Equity
4.0%
YoY-5.6pp
5Y CAGR+6.0pp
10Y CAGR+8.5pp

Veeco Instrs Inc Del's ROE was 4.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 5.6 percentage points from the prior year.

Capital Allocation

R&D Spending
$119.6M
YoY-3.9%
5Y CAGR+8.7%
10Y CAGR+4.3%

Veeco Instrs Inc Del invested $119.6M in research and development in fiscal year 2025. This represents a decrease of 3.9% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$16.2M
YoY-10.6%
5Y CAGR+19.0%
10Y CAGR+1.6%

Veeco Instrs Inc Del invested $16.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 10.6% from the prior year.

VECO Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $165.0M-0.5% $165.9M-0.1% $166.1M-0.7% $167.3M-8.1% $182.1M-1.4% $184.8M+5.1% $175.9M+0.8% $174.5M
Cost of Revenue $104.5M+6.4% $98.2M+0.8% $97.4M-1.5% $98.8M-8.6% $108.1M+2.4% $105.6M+5.1% $100.5M+1.4% $99.1M
Gross Profit $60.5M-10.6% $67.7M-1.5% $68.7M+0.4% $68.5M-7.5% $74.0M-6.6% $79.2M+5.1% $75.4M0.0% $75.4M
R&D Expenses $30.6M+5.5% $29.0M-8.1% $31.6M+10.7% $28.5M-7.9% $31.0M-3.9% $32.2M+1.6% $31.7M+6.9% $29.6M
SG&A Expenses $22.7M-16.8% $27.3M+13.9% $23.9M-4.4% $25.0M-0.2% $25.1M-0.8% $25.3M+2.8% $24.6M-0.4% $24.7M
Operating Income -$1.4M-112.9% $10.6M-14.7% $12.4M-12.6% $14.1M+264.7% $3.9M-84.1% $24.3M+45.5% $16.7M-24.1% $22.0M
Interest Expense $1.9M+0.1% $1.9M-6.0% $2.1M-5.7% $2.2M-2.5% $2.2M-8.3% $2.4M+0.3% $2.4M-7.0% $2.6M
Income Tax -$1.2M-194.4% $1.3M+43.9% $889K-70.7% $3.0M+128.6% -$10.6M-491.9% $2.7M+27.3% $2.1M+137.4% $896K
Net Income $1.1M-89.5% $10.6M-9.7% $11.7M-1.8% $11.9M-20.2% $15.0M-31.8% $22.0M+46.9% $14.9M-31.6% $21.9M
EPS (Diluted) N/A $0.17-15.0% $0.200.0% $0.20 N/A $0.36+44.0% $0.25-32.4% $0.37

VECO Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $1.3B+2.8% $1.3B+1.2% $1.3B-0.3% $1.3B+2.2% $1.3B-1.7% $1.3B+3.1% $1.2B+0.1% $1.2B
Current Assets $845.3M+4.3% $810.3M+2.3% $791.9M-0.4% $794.8M+4.0% $764.5M+0.5% $761.0M+6.0% $718.2M+0.3% $715.9M
Cash & Equivalents $163.5M-15.4% $193.2M+2.3% $188.9M+8.0% $174.9M+20.1% $145.6M-10.8% $163.2M-6.3% $174.2M+0.1% $174.0M
Inventory $275.3M+4.6% $263.3M+1.7% $259.0M+1.9% $254.1M+3.0% $246.7M+1.9% $242.1M-1.2% $245.1M+0.8% $243.3M
Accounts Receivable $110.7M-5.0% $116.5M+9.3% $106.5M-6.9% $114.4M+18.1% $96.8M-26.8% $132.3M+43.2% $92.4M-13.3% $106.5M
Goodwill $215.0M0.0% $215.0M0.0% $215.0M0.0% $215.0M0.0% $215.0M0.0% $215.0M0.0% $215.0M0.0% $215.0M
Total Liabilities $440.3M+6.4% $413.9M-1.1% $418.5M-10.4% $467.0M-2.9% $480.8M-8.7% $526.4M+1.2% $520.1M-4.7% $545.8M
Current Liabilities $178.1M+17.8% $151.2M-2.6% $155.2M-13.2% $178.9M-7.0% $192.3M-10.6% $215.2M+5.5% $204.0M-13.0% $234.4M
Long-Term Debt $226.0M+0.1% $225.7M+0.1% $225.4M-9.8% $250.0M+0.1% $249.7M+0.1% $249.4M+0.1% $249.1M+0.1% $248.8M
Total Equity $885.5M+1.1% $876.0M+2.3% $856.2M+5.5% $811.9M+5.3% $770.8M+3.2% $746.5M+4.4% $715.0M+3.9% $687.9M
Retained Earnings -$423.1M+0.3% -$424.2M+2.4% -$434.8M+2.6% -$446.5M+2.6% -$458.5M+3.2% -$473.4M+4.4% -$495.4M+2.9% -$510.3M

VECO Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $24.9M+60.5% $15.5M+71.8% $9.0M-54.8% $20.0M-29.6% $28.4M+61.2% $17.6M+108.3% $8.5M-9.7% $9.4M
Capital Expenditures $3.3M+26.9% $2.6M-28.3% $3.6M-46.8% $6.8M+30.4% $5.2M+29.8% $4.0M+35.2% $3.0M-50.7% $6.0M
Free Cash Flow $21.7M+67.1% $13.0M+137.8% $5.4M-58.9% $13.2M-43.0% $23.2M+70.3% $13.6M+147.6% $5.5M+63.2% $3.4M
Investing Cash Flow -$53.4M-340.5% -$12.1M-227.2% $9.5M-34.3% $14.5M+131.8% -$45.7M-54.4% -$29.6M-197.8% -$9.9M-148.0% $20.7M
Financing Cash Flow -$1.3M-259.4% $820K+117.4% -$4.7M+10.8% -$5.3M-1977.2% -$254K-128.4% $895K-44.8% $1.6M+110.9% -$14.8M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

VECO Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 36.7%-4.1pp 40.8%-0.6pp 41.4%+0.5pp 40.9%+0.3pp 40.6%-2.2pp 42.9%0.0pp 42.9%-0.4pp 43.2%
Operating Margin -0.8%-7.2pp 6.4%-1.1pp 7.4%-1.0pp 8.5%+6.3pp 2.1%-11.0pp 13.2%+3.7pp 9.5%-3.1pp 12.6%
Net Margin 0.7%-5.7pp 6.4%-0.7pp 7.1%-0.1pp 7.1%-1.1pp 8.2%-3.7pp 11.9%+3.4pp 8.5%-4.0pp 12.5%
Return on Equity 0.1%-1.1pp 1.2%-0.2pp 1.4%-0.1pp 1.5%-0.5pp 1.9%-1.0pp 2.9%+0.9pp 2.1%-1.1pp 3.2%
Return on Assets 0.1%-0.7pp 0.8%-0.1pp 0.9%0.0pp 0.9%-0.3pp 1.2%-0.5pp 1.7%+0.5pp 1.2%-0.6pp 1.8%
Current Ratio 4.75-0.6 5.36+0.3 5.10+0.7 4.44+0.5 3.98+0.4 3.54+0.0 3.52+0.5 3.05
Debt-to-Equity 0.260.0 0.260.0 0.26-0.0 0.31-0.0 0.32-0.0 0.33-0.0 0.35-0.0 0.36
FCF Margin 13.1%+5.3pp 7.8%+4.5pp 3.3%-4.6pp 7.9%-4.8pp 12.7%+5.4pp 7.4%+4.2pp 3.1%+1.2pp 1.9%

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Frequently Asked Questions

Veeco Instrs Inc Del (VECO) reported $664.3M in total revenue for fiscal year 2025. This represents a -7.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Veeco Instrs Inc Del (VECO) revenue declined by 7.4% year-over-year, from $717.3M to $664.3M in fiscal year 2025.

Yes, Veeco Instrs Inc Del (VECO) reported a net income of $35.4M in fiscal year 2025, with a net profit margin of 5.3%.

Veeco Instrs Inc Del (VECO) reported diluted earnings per share of $0.59 for fiscal year 2025. This represents a -52.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Veeco Instrs Inc Del (VECO) had EBITDA of $55.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Veeco Instrs Inc Del (VECO) had $163.5M in cash and equivalents against $226.0M in long-term debt.

Veeco Instrs Inc Del (VECO) had a gross margin of 40.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Veeco Instrs Inc Del (VECO) had an operating margin of 5.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Veeco Instrs Inc Del (VECO) had a net profit margin of 5.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Veeco Instrs Inc Del (VECO) has a return on equity of 4.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Veeco Instrs Inc Del (VECO) generated $53.3M in free cash flow during fiscal year 2025. This represents a 16.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Veeco Instrs Inc Del (VECO) generated $69.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Veeco Instrs Inc Del (VECO) had $1.3B in total assets as of fiscal year 2025, including both current and long-term assets.

Veeco Instrs Inc Del (VECO) invested $16.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Veeco Instrs Inc Del (VECO) invested $119.6M in research and development during fiscal year 2025.

Veeco Instrs Inc Del (VECO) had 60M shares outstanding as of fiscal year 2025.

Veeco Instrs Inc Del (VECO) had a current ratio of 4.75 as of fiscal year 2025, which is generally considered healthy.

Veeco Instrs Inc Del (VECO) had a debt-to-equity ratio of 0.26 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Veeco Instrs Inc Del (VECO) had a return on assets of 2.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Veeco Instrs Inc Del (VECO) has an Altman Z-Score of 3.57, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Veeco Instrs Inc Del (VECO) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Veeco Instrs Inc Del (VECO) has an earnings quality ratio of 1.96x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Veeco Instrs Inc Del (VECO) has an interest coverage ratio of 4.4x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Veeco Instrs Inc Del (VECO) scores 52 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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