Veeco Instruments Inc.

VECO Technology Semiconductor Equipment & Materials

Veeco Instruments Inc.’s revenue for fiscal 2025 (year ended December 2025) was $664.3 million, down 7.39% from fiscal 2024.

Revenue
+26.2%
EPS
+22.2%
Free cash flow
+313.7%
Total debt
+0.49%

Quarter to September 2026, against a year earlier

36.79 3.54 +10.65%
Market cap
$2.0B
P/E
80.7×
Fwd P/E
43.4×
Dividend yield
—
F-score
5/9
Altman Z
3.06
Beneish M
−2.39
Dividend safety
n/a

Veeco Instruments Inc. (VECO) Free cash flow margin

Alert me on Free cash flow margin

Veeco Instruments Inc.'s free cash flow margin over the twelve months to 30 September 2026 was 17.3%, up 9.3 percentage points from fiscal 2025 (8.02%). Over the past ten years it has ranged from −10.7% (fiscal 2016) to 13.0% (fiscal 2022); the current reading is higher than 91% of that period. That is above the Semiconductor Equipment & Materials industry median of 6.73% and above the Technology sector median of 0.67%.

Free cash flow margin, annual

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Annual newest first

Period Free cash flow margin Change (points)
FY2025 8.02% 1.37
FY2024 6.65% 1.59
FY2023 5.06% (7.92)
FY2022 13.0% 8.33
FY2021 4.65% (3.32)
FY2020 7.97% 12.33
FY2019 −4.36% 4.94
FY2018 −9.30% (11.55)
FY2017 2.25% 12.90
FY2016 −10.7% (11.05)

Against its own ten years

Low −10.7% High 13.0%
Ten-year median 4.65%
Current reading's percentile 91

Free cash flow margin against peers

Company Free cash flow margin
VECO Veeco Instruments Inc. 17.3%
PLAB Photronics, Inc. compare 12.7%
COHU Cohu, Inc. compare 9.89%
ACLS Axcelis Technologies, Inc. compare 6.73%
IPGP IPG Photonics Corporation compare 3.39%
AMBA Ambarella, Inc. compare 2.33%
UCTT Ultra Clean Holdings, Inc. compare −6.84%
AEHR Aehr Test Systems compare −10.8%
ACMR ACM Research, Inc. compare −11.5%
Semiconductor Equipment & Materials industry median 6.73%
Technology sector median 0.67%
Market median 0.00%

What Free cash flow margin is

Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.

(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue

The full definition of Free cash flow margin →

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