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 $3.6B against $2.8B — 1.3× the size. Axcelis Technologies, Inc. trades at the lower P/E: 41.0× against 131×. Veeco Instruments Inc. grew revenue faster over the last twelve months: −2.52% against −3.35%. Axcelis Technologies, Inc. has the higher net margin (10.7% vs 3.35%) and the higher return on invested capital (7.94% vs 1.64%). Across the 22 metrics below, Axcelis Technologies, Inc. leads on 16 and Veeco Instruments Inc. on 6.

Valuation

Metric ACLS VECO Semiconductor Equipment & Materials median
P/E 41.04 130.85 54.39
P/S 4.38 4.44 6.08
P/B 3.56 3.36 4.89
Price to free cash flow 57.85 35.61 60.92
EV/EBITDA 33.07 74.76 39.95
EV/Sales 3.98 4.18 6.36
Earnings yield 2.44% 0.76% 1.14%
Free cash flow yield 1.73% 2.81% 1.28%

Profitability

Metric ACLS VECO Semiconductor Equipment & Materials median
Gross margin 43.01% 37.92% 43.95%
Operating margin 10.32% 2.69% 10.32%
Net margin 10.71% 3.35% 7.45%
Free cash flow margin 7.57% 12.47% 6.77%
Return on equity 8.89% 2.60% 4.78%
Return on assets 6.85% 1.70% 3.62%
Return on invested capital 7.94% 1.64% 6.10%

Growth

Metric ACLS VECO Semiconductor Equipment & Materials median
Revenue growth (TTM) (3.35%) (2.52%) 14.60%
EPS growth (last fiscal year) (38.21%) (52.03%) —
Revenue growth, 5-year CAGR 12.07% 7.90% 8.85%
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 4.90 3.93 3.66
Net debt to EBITDA (2.51) (2.95) (0.49)

Dividend

Metric ACLS VECO Semiconductor Equipment & Materials median
Dividend yield — — 0.85%
Payout ratio 0.00 0.00 0.00

Size

Metric ACLS VECO Semiconductor Equipment & Materials median
Market cap 3.59b 2.81b 4.63b

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