Axcelis Technologies, Inc. (ACLS) vs Veeco Instruments Inc. (VECO)

Axcelis Technologies, Inc. and Veeco Instruments Inc. are both Semiconductor Equipment & Materials companies. Axcelis Technologies, Inc. is the larger, with a market value of $2.8B against $2.0B — 1.4× the size. Axcelis Technologies, Inc. trades at the lower P/E: 26.6× against 80.7×. Veeco Instruments Inc. grew revenue faster over the last twelve months: 6.58% against 4.35%. Axcelis Technologies, Inc. has the higher net margin (11.8% vs 0.00%) and the higher return on invested capital (8.43% vs 2.05%). Across the 22 metrics below, Axcelis Technologies, Inc. leads on 14 and Veeco Instruments Inc. on 8.

Valuation

Metric ACLS VECO Semiconductor Equipment & Materials median
P/E 26.59 80.74 33.70
P/S 3.13 2.85 4.22
P/B 2.50 2.24 2.94
Price to free cash flow 46.45 16.46 31.49
EV/EBITDA 22.71 44.09 22.64
EV/Sales 2.66 2.54 4.97
Earnings yield 3.76% 1.24% 2.02%
Free cash flow yield 2.15% 6.08% 2.27%

Profitability

Metric ACLS VECO Semiconductor Equipment & Materials median
Gross margin 42.81% 37.39% 46.86%
Operating margin 10.31% 3.02% 12.02%
Net margin 11.75% 0.00% 10.16%
Free cash flow margin 6.73% 17.32% 6.73%
Return on equity 9.80% 0.00% 5.31%
Return on assets 7.39% 0.00% 4.10%
Return on invested capital 8.43% 2.05% 6.36%

Growth

Metric ACLS VECO Semiconductor Equipment & Materials median
Revenue growth (TTM) 4.35% 6.58% 15.82%
EPS growth (last fiscal year) (38.21%) (52.03%) (4.56%)
Revenue growth, 5-year CAGR 12.07% 7.90% 10.11%
Net income growth, 5-year CAGR 19.19% 0.00% 0.00%

Health

Metric ACLS VECO Semiconductor Equipment & Materials median
Debt to equity 0.04 0.25 0.09
Current ratio 4.43 3.87 3.56
Net debt to EBITDA (2.51) (2.95) (0.49)

Dividend

Metric ACLS VECO Semiconductor Equipment & Materials median
Dividend yield — — 0.59%
Payout ratio — — 0.16

Size

Metric ACLS VECO Semiconductor Equipment & Materials median
Market cap 2.78b 2.03b 3.04b

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