VECO · Veeco Instruments Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - |
| Cost of Revenue | $398.88M | $413.30M | $381.38M | $382.99M | $341.00M | $259.86M |
| Gross Profit | $265.41M | $304.00M | $285.06M | $263.15M | $242.27M | $194.30M |
| R&D | $119.64M | $124.51M | $112.85M | $103.56M | $88.68M | $78.99M |
| SG&A | $98.91M | $99.66M | $92.76M | $88.95M | $84.54M | $76.25M |
| Total Operating Expenses | $229.70M | $237.02M | $215.12M | $202.85M | $185.56M | $171.74M |
| D&A | $20.02M | $25.14M | $24.97M | $25.64M | $26.06M | $30.70M |
| Operating Income | $35.71M | $66.98M | $69.94M | $60.30M | $56.71M | $22.57M |
| Interest Expense | $8.12M | $9.74M | $11.77M | $11.51M | $28.36M | $24.74M |
| Income Tax | $4.00M | ($4.88M) | $2.03M | ($115.96M) | ($358.0K) | ($73.0K) |
| Net Income | $35.39M | $73.71M | ($30.37M) | $166.94M | $26.04M | ($8.39M) |
| EPS - Basic | $0.60 | $1.31 | ($0.56) | $3.35 | $0.53 | ($0.17) |
| EPS - Diluted | $0.59 | $1.23 | ($0.56) | $2.71 | $0.49 | ($0.17) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $163.47M | $145.59M | $158.78M | $154.93M | $119.75M | $129.63M |
| Accounts Receivable | $110.69M | $96.83M | $103.02M | $124.22M | $109.61M | $79.99M |
| Inventory | $275.30M | $246.74M | $237.63M | $206.91M | $170.86M | $145.91M |
| Accounts Payable | $55.34M | $43.52M | $42.38M | $52.05M | $44.46M | $33.66M |
| Current Assets | $845.34M | $764.53M | $706.28M | $668.90M | $549.39M | $586.93M |
| Total Assets | $1.33B | $1.25B | $1.23B | $1.13B | $898.98M | $898.06M |
| Current Liabilities | $178.06M | $192.28M | $218.03M | $257.90M | $189.20M | $146.68M |
| Long-term Debt | $226.01M | $249.70M | $274.94M | $254.49M | $229.44M | $321.12M |
| Total Liabilities | $440.29M | $480.81M | $556.60M | $550.36M | $461.35M | $489.69M |
| Stockholders' Equity | $885.51M | $770.77M | $672.44M | $577.82M | $437.63M | $408.37M |
| Retained Earnings | ($423.06M) | ($458.45M) | ($532.17M) | ($501.80M) | ($681.28M) | ($707.32M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $69.49M | $63.81M | $61.67M | $108.48M | $67.74M | $43.02M |
| Investing Cash Flow | ($41.48M) | ($64.55M) | ($53.33M) | ($68.88M) | $44.53M | ($71.79M) |
| Financing Cash Flow | ($10.47M) | ($12.58M) | ($4.68M) | ($4.55M) | ($122.03M) | $29.10M |
| CapEx | $16.20M | $18.11M | $27.93M | $24.60M | $40.64M | $6.80M |
| Free Cash Flow | $53.29M | $45.70M | $33.74M | $83.88M | $27.10M | $36.22M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | - | - | - | - | - | - |
| EBITDA margin | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - |
| Free cash flow margin | - | - | - | - | - | - |
| FCF / Net income | 1.51 | 0.62 | -1.11 | 0.50 | 1.04 | -4.32 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - |
| Effective tax rate | 10.1% | -7.1% | - | -227.4% | -1.4% | - |
| Return on assets | 2.7% | 5.9% | -2.5% | 14.8% | 2.9% | -0.9% |
| Return on equity | 4.0% | 9.6% | -4.5% | 28.9% | 5.9% | -2.1% |
| Return on invested capital | 2.9% | 6.6% | 5.8% | 7.2% | 8.5% | 2.4% |
| Liquidity | ||||||
| Current ratio | 4.75 | 3.98 | 3.24 | 2.59 | 2.90 | 4.00 |
| Quick ratio | 3.20 | 2.69 | 2.15 | 1.79 | 2.00 | 3.01 |
| Cash ratio | 0.92 | 0.76 | 0.73 | 0.60 | 0.63 | 0.88 |
| Leverage | ||||||
| Debt / Equity | 0.26 | 0.32 | 0.41 | 0.44 | 0.52 | 0.79 |
| Debt / Assets | 0.17 | 0.20 | 0.22 | 0.23 | 0.26 | 0.36 |
| Debt / EBITDA | 4.06 | 2.71 | 2.90 | 2.96 | 2.77 | 6.03 |
| Interest coverage | 4.4x | 6.9x | 5.9x | 5.2x | 2.0x | 0.9x |
| Equity multiplier | 1.50 | 1.62 | 1.83 | 1.95 | 2.05 | 2.20 |
| Liabilities / Assets | 0.33 | 0.38 | 0.45 | 0.49 | 0.51 | 0.55 |
| Efficiency | ||||||
| Asset turnover | - | - | - | - | - | - |
| Inventory turnover | 1.45 | 1.68 | 1.60 | 1.85 | 2.00 | 1.78 |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | 252d | 218d | 227d | 197d | 183d | 205d |
| Days payable outstanding | 51d | 38d | 41d | 50d | 48d | 47d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 48.4x | 21.8x | - | 6.9x | 58.1x | - |
| P / B | 2.0x | 2.1x | 2.5x | 2.1x | 3.5x | 2.1x |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | 32.2x | 19.0x | 18.8x | 15.3x | 19.8x | 19.4x |
| Growth | ||||||
| Revenue growth (YoY) | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - |
| Gross profit growth (YoY) | -12.7% | 6.6% | 8.3% | 8.6% | 24.7% | 22.8% |
| Operating income growth (YoY) | -46.7% | -4.2% | 16.0% | 6.3% | 151.3% | - |
| Net income growth (YoY) | -52.0% | - | - | 541.1% | - | 89.3% |
| EPS growth (YoY) | -52.0% | - | - | 453.1% | - | 89.8% |
| EPS CAGR (3y) | -39.8% | 35.9% | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | 16.6% | 35.4% | -59.8% | 209.5% | -25.2% | - |
| FCF CAGR (5y) | 8.0% | - | - | - | - | 80.3% |
| Book value growth (YoY) | 14.9% | 14.6% | 16.4% | 32.0% | 7.2% | 9.0% |
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- -Gross margin improved
- -Asset turnover improved
Peer comparison
Same SIC group: Special Industry Machinery, NEC
Comparing VEECO INSTRUMENTS INC against the 5 most active filers in the same SIC group.