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Wednesday 4 November 2026 Export MKSI’s income statement to Excel — free account

MKS Inc.

MKSI Technology Scientific & Technical Instruments

MKS Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.9 billion, up 9.62% from fiscal 2024.

Revenue
+28.3%
EPS
+181.5%
Free cash flow
+39.0%
Total debt
−10.5%

Quarter to June 2026, against a year earlier

193.77 11.41 −5.56%
Market cap
$13.9B
P/E
31.4×
Fwd P/E
21.4×
Dividend yield
0.47%
F-score
7/9
Altman Z
2.04
Beneish M
−2.57
Dividend safety
68/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • VSD
  • Materials Solutions Division
  • PSD

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 43.41
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 — 10 3 — 10 5 — 2 1 — —
Insider Ownership 4.02%

Capital & Financial Ratios $m

Size
Market Cap 13,870.00
Revenue ttm 4,348.00
Net income ttm 439.00
Free cash flow ttm 458.00
Net debt Q 3,332.00
Valuation
P/E 31.36
Forward P/E 21.40
Price / sales 3.18
Forward P/S Powerpack
Price / FCF 30.22
Price / book 4.63
Financial health
Current ratio Q 1.14
Debt / equity Q 1.32
Interest coverage Q 6.61
Growth
Revenue growth Q +28.26% (above 0%: growing)
Operating income growth Q +85.93% (above 0%: growing)
EPS, this year +66.93% (at or above 15%: strong)
EPS, next year A +33.92% (at or above 15%: strong)
Revenue, next year A +29.31% (at or above 10%: strong)
EPS, past 5 yrs −7.14% (below 0%: weak)
EPS, next 5 yrs A +36.95% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.9×, against a ten-year median of 2.9×; over the ten years it ranged from 1.3× in 2016 to 7.7× in 2026.
P/E against its own 10 years 70.49%
10-year low 10-year high
P/S against its own 10 years 80.48%
10-year low 10-year high
P/B against its own 10 years 92.73%
10-year low 10-year high
EV/Sales against its own 10 years 89.98%
10-year low 10-year high
EV/FCF against its own 10 years 84.11%
10-year low 10-year high

Dividends

Yield
0.47%
Annual rate
0.97
Payout ratio
15.5%
Growth, 2017–25
+2.81%/yr
  1. 0.71 ’17
  2. 0.78 ’18 +11
  3. 0.80 ’19 +3
  4. 0.80 ’20 +0
  5. 0.86 ’21 +7
  6. 0.88 ’22 +2
  7. 0.88 ’23 +0
  8. 0.88 ’24 +0
  9. 0.88 ’25 +0
  10. 1.00 ’26e +13
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 875 714 675 611
Receivables 603 615 651 830
Inventory 991 893 921 1,033
Other 227 252 263 300
2,696 2,474 2,510 2,774
2023 2024 2025 Q'26
Payables 327 341 407 534
ST’ Debt 93 50 51 1,399
Other 428 384 469 491
848 775 927 2,424

Compound Annual Growth %

10y 5y 3y
Sales 17.06% 11.03% 3.49%
Cash Flow 16.65% 4.69% 6.83%
Earnings 9.20% (3.36%) (3.96%)
Book Value 8.88% 2.86% (15.35%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 2.94 Actual 3.30

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 1.80 1.93 Beat by 0.13
Q4 FY25 2.51 2.47 Miss by 0.04
Q1 FY26 2.00 2.30 Beat by 0.30
Q2 FY26 2.94 3.30 Beat by 0.36
Q3 FY26 3.64 — Reports 4 November 2026

EPS $

Mar Jun Sep Dec Year
’26 1.18 2.41 — — —
’25 0.77 0.92 1.10 1.58 4.37
’24 0.22 0.33 0.92 1.33 2.81
’23 (0.64) (26.47) 0.58 (1.02) (27.54)
’22 2.57 2.32 0.09 0.81 5.56
’21 2.20 2.63 2.38 2.69 9.90
’20 1.25 1.33 1.66 2.08 6.33
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,078 1,248 — — —
’25 936 973 988 1,034 3,931
’24 868 887 896 935 3,586
’23 794 1,003 932 893 3,622
’22 742 765 954 1,086 3,547
’21 694 750 742 764 2,950
’20 536 544 590 660 2,330
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 53 243 — — —
’25 141 165 197 142 645
’24 67 122 163 176 528
’23 37 (59) 160 181 319
’22 41 105 199 184 529
’21 127 165 153 195 640
’20 75 139 152 147 513
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 28 189 — — —
’25 123 136 146 95 500
’24 49 95 141 126 411
’23 20 (77) 142 150 235
’22 29 34 173 129 365
’21 100 149 133 171 553
’20 65 118 123 122 428
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 16.0% a year for ten years. It grew 14.0% a year over the last ten.

Implied
16.0%
10 years, reported
14.0%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,295 1,916 2,075 1,900 2,330 2,950 3,547 3,622 3,586 3,931 4,348 +13.1% 5,083 6,127 6,754 +19.8%
Gross margin, % 43.67 46.53 47.20 43.71 45.02 46.78 43.61 45.33 47.63 46.73 46.96 +3.1 pt
EBT 128 448 481 178 423 665 433 (1,928) 180 304 488 +10.1%
EBT margin, % 9.88 23.36 23.18 9.36 18.15 22.54 12.21 (53.23) 5.02 7.73 11.22 (2.2) pt
Net income 105 339 393 140 350 551 333 (1,841) 190 295 439 +12.2%
Per share, $
Per share, $ Revenue 24.22 35.39 38.15 34.73 42.29 53.25 59.41 54.22 53.28 58.41 64.32 +10.3%
Earnings 1.96 6.26 7.22 2.57 6.36 9.95 5.57 (27.54) 2.82 4.39 6.53 +9.4%
Cash flow 3.37 6.56 7.61 4.47 9.31 11.55 8.86 4.78 7.85 9.58 9.39 +12.3%
Capex (0.36) (0.58) (1.16) (1.17) (1.54) (1.57) (2.75) (1.26) (1.74) (2.15) (2.62) +22.1%
Free cash flow 3.01 5.98 6.45 3.30 7.77 9.98 6.11 3.52 6.11 7.43 6.78 +10.6%
Book value 23.22 29.35 34.43 36.99 42.85 52.11 75.09 37.01 34.50 40.40 44.20 +6.3%
Shares, m 53 54 54 55 55 55 60 67 67 67 67 +2.6%
Valuation, ×
Valuation, × P/E 30.54 15.67 8.95 42.97 23.66 17.50 14.57 0.00 37.02 36.40 31.36 22.7
P/S 2.47 2.77 1.69 3.17 3.56 3.27 1.43 1.84 1.96 2.74 3.18 2.5
P/B 2.58 3.34 1.88 2.97 3.51 3.34 1.13 2.70 3.03 3.96 4.63 2.8
EV/Sales 2.62 2.69 1.52 3.36 3.56 3.19 2.56 2.92 3.03 3.63 3.95 2.9
EV/FCF 21.05 15.93 8.96 35.31 19.35 17.04 24.85 45.02 26.40 28.56 37.50 24.2
Cash, $m
Cash, $m Operating cash flow 180 355 414 245 513 640 529 319 528 645 635 +15.2%
Capex (19) (31) (63) (64) (85) (87) (164) (84) (117) (145) (177) +25.2%
Free cash flow 161 324 351 181 428 553 365 235 411 500 458 +13.4%
Balance, $m
Balance, $m Working capital 761 946 1,201 1,116 1,431 1,687 1,842 1,848 1,699 1,583 350 +8.5%
Net debt 189 (150) (370) 360 (6) (225) 4,017 3,914 3,824 3,526 3,332 +38.4%
Shareholders’ equity 1,242 1,589 1,873 2,023 2,361 2,887 4,483 2,472 2,322 2,719 2,988 +9.1%
Returns, %
Returns, % ROA 6.01 14.66 15.63 4.66 9.56 13.05 4.15 (17.86) 2.15 3.39 4.95 (2.6) pt
ROIC 6.87 17.67 20.55 5.76 12.05 16.41 4.54 (15.21) 5.06 5.28 6.74 (1.6) pt
ROE 8.72 23.96 22.70 7.21 15.97 21.00 9.04 (52.94) 7.93 11.70 15.88 +3.0 pt
People
People Employees 4,667 4,923 4,851 5,500 5,800 6,400 10,900 10,200 10,200 10,300 — +9.2%
Revenue/emp, $m 0.28 0.39 0.43 0.35 0.40 0.46 0.33 0.36 0.35 0.38 — +3.6%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Business profile

Updated

MKS Inc. sells instruments, equipment, components, process-control technology and specialty chemicals used to make semiconductors and other advanced products. Its customers include semiconductor equipment and device manufacturers, printed circuit board and package substrate makers, and companies in industrial, life sciences, research and defense markets.

In semiconductor manufacturing, MKS products help measure and control processes such as depositing and removing thin layers of material, cleaning, inspection and lithography. Its vacuum, gas-delivery and power products help customers control conditions inside manufacturing equipment. Its photonics and optics products are used in areas including lithography, measurement and inspection.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
VSD 1,579 40.17%
Materials Solutions Division 1,323 33.66%
PSD 1,029 26.18%
Gross margin 46.73%
Operating margin 13.43%
Pre-tax margin 7.73%

Revenue by segment since 2009

MKS Inc. vs peers in Scientific & Technical Instruments (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
TDY Teledyne Technologies Incorporated $30.6B 30.3× 30.1× +9.44% (above 0%: growing) +25.16% (above 0%: growing) +1.78% (above 0%: growing) 43.88% 20.61% Compare
FTV Fortive Corporation $19.9B 31.5× 30.5× +7.83% (above 0%: growing) +237.76% (above 0%: growing) +108.91% (above 0%: growing) 64.16% 21.30% Compare
TRMB Trimble Inc. $15.3B — (loss-making) — (loss-making) +11.00% (above 0%: growing) −645.95% (below 0%: shrinking) +492.59% (above 0%: growing) 69.43% 13.58% Compare
MKSI MKS Inc. $13.9B 31.4× 21.4× +28.26% (above 0%: growing) +181.52% (above 0%: growing) +38.97% (above 0%: growing) 47.68% 20.11%
CGNX Cognex Corporation $9.8B 55.4× 34.5× +16.93% (above 0%: growing) +79.17% (above 0%: growing) +67.25% (above 0%: growing) 70.65% 29.36% Compare
ESE ESCO Technologies Inc. $7.8B 20.7× 40.9× +14.40% (above 0%: growing) +24.75% (above 0%: growing) −22.12% (below 0%: shrinking) 41.74% 14.80% Compare
ST Sensata Technologies Holding N.V. $6.1B 16.5× 14.1× +7.68% (above 0%: growing) n/m +45.49% (above 0%: growing) 33.07% 17.46% Compare
NOVT Novanta Inc. $5.6B 92.5× 80.1× +10.27% (above 0%: growing) +158.33% (above 0%: growing) +391.84% (above 0%: growing) 45.49% 6.79% Compare
VNT Vontier Corporation $4.9B 15.1× 12.7× −2.17% (below 0%: shrinking) −67.74% (below 0%: shrinking) +13.79% (above 0%: growing) 48.24% 19.39% Compare
Median of peers $8.8B 30.3× 30.5× +9.86% +25.16% +56.37% 46.87% 18.43%

All 33 Scientific & Technical Instruments stocks →

From the latest earnings call

Updated

  • CEO John Lee said AI-related investment was driving demand for chemistry equipment, and MKS was expanding capacity in Guangzhou and using its Germany factory.
  • Ramakumar Mayampurath said factory ramp investments and an unfavorable product mix would temporarily weigh on gross margin as MKS prepares for demand.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 104.48%
Held by the ten largest 51.80%
Holder Shares Stake Change
Vanguard 7.31m 10.82% +67.00k
BlackRock 6.93m 10.25% +288.30k
Invesco 4.66m 6.90% +940.21k
JPMorgan Chase 3.37m 4.99% +1.28m
Capital Group 3.28m 4.85% +35.51k
State Street 2.13m 3.16% +76.93k
Point72 Asset Management, L.P. 2.00m 2.95% +386.51k
T. Rowe Price 1.96m 2.90% +263.60k
Aspex Management (HK) Ltd 1.82m 2.69% +281.65k
Geode Capital Management 1.54m 2.28% −247.00
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 31 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 12.96m 24.97m 110.36
2024 8.76m 7.39m 71.50
2023 7.91m 13.22m 69.95
2022 8.06m 3.49m 57.06
2021 7.60m 11.38m 116.37

Ownership

Directors and executive officers, together less than 1%
The Vanguard Group 11.52%
BlackRock, Inc. 8.75%
Invesco Ltd. 6.53%
FMR LLC 6.02%
Victory Capital Management, Inc. 5.63%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

MKS Inc. (MKSI) Latest News

4 Nov

Impact 4 · · GlobeNewswire
Impact 3 · · Associated Press

29 Oct

Impact 3 · · Trefis

28 Oct

Impact 3 · · Zacks
Impact 3 · · Trefis

27 Oct

Impact 3 · · Trefis

24 Oct

Impact 4 · · Simply Wall St.

23 Oct

Impact 3 · · Trefis

22 Oct

Impact 4 · · GlobeNewswire

19 Oct

Impact 4 · · Investing.com
Impact 4 · · GlobeNewswire
Impact 3 · · GlobeNewswire

16 Oct

Impact 3 · · Zacks

14 Oct

Impact 4 · · Zacks
Impact 3 · · Zacks

13 Oct

Impact 3 · · Trefis

9 Oct

Impact 3 · · Simply Wall St.

8 Oct

Impact 3 · · Trefis
Impact 3 · · Simply Wall St.

5 Oct

Impact 3 · · Trefis

29 Sep

Impact 3 · · Insider Monkey

28 Sep

Impact 3 · · Zacks

23 Sep

Impact 4 ·

22 Sep

Impact 4 · · Simply Wall St.

4 Sep

Impact 3 ·

27 Aug

Impact 3 ·

16 Aug

Impact 3 ·

15 Aug

Impact 3 ·

12 Aug

Impact 4 · · The Motley Fool transcript

7 Aug

Impact 4 ·

MKSI metrics, ten years each

stockrow.com/MKSI · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com