Is Veeco Instruments (VECO) overvalued or fairly valued?

MarketChacha shows Veeco Instruments's valuation in context — a trailing P/E of about 82.7, a forward P/E of about 14.6, a price-to-book of about 2.9 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Veeco Instruments's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (2.48×) from reported figures — education, not a rating.

What is Veeco Instruments's revenue?

Veeco Instruments reported revenue of $664.3M for FY2025, with net profit of $35.4M, per official filings.

What is the share price of Veeco Instruments (VECO)?

Veeco Instruments last traded at $44.67 (+3.8% on the day), as of 9/4/2026 — a delayed quote shown for education, not investment advice.

Veeco Instruments

VECO · NYSE · Technology · United States

Snapshot

TickerVECO

ExchangeNYSE

SectorTechnology

IndustrySemiconductor Equipment & Materials

CountryUnited States

Employees1,265

HeadquartersPlainview, United States

Websitewww.veeco.com

Filings tracked16

About Veeco Instruments

Veeco Instruments Inc., together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices in the United States, Europe, the Middle East, and Africa, China, Rest of the Asia-Pacific, and internationally. It offers laser annealing, ion beam deposition and etch, metal organic chemical vapor deposition, single wafer wet processing and surface preparation, molecular beam epitaxy, advanced packaging lithography, atomic layer deposition, and other deposition systems. The company's process equipment systems are used in the production of a range of microelectronic components, including logic, dynamic random-access memory, photonics devices, power electronics, radio frequency filters and amplifiers, magnetic heads for hard disk drives, and other semiconductor devices. In addition, it markets and sells its products to integrated device manufacturers and foundries; outsourced semiconductor assembly and test companies; and hard disk drive and photonics manufacturers, as well as research centers and universities. Veeco Instruments Inc. was founded in 1945 and is headquartered in Plainview, New York.

Who owns it

Insiders2.2%
Institutions97.8%
Public & other0.0%

436 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.15.71%
FMR, LLC14.82%
Vanguard Portfolio Management LLC7.72%
Neuberger Berman Group, LLC5.97%
Vanguard Capital Management LLC4.26%
State Street Corporation4.24%
Paradigm Capital Management3.38%
Price (T.Rowe) Associates Inc2.95%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Latest ROE of 4.0% is on the low side — the business earns a modest return on shareholder capital.

Cash conversion2.48×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend-4.6% → 5.3%

Margin has expanded by about 9.9 points — the business is getting more profitable.

Return on equity4.0%

Latest ROE of 4.0% is on the low side — the business earns a modest return on shareholder capital.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $235.1M · EPS 0.60

Est. earnings growth +152.0%

Next fiscal year

Rev $1.0B · EPS 2.91

Est. earnings growth +92.0%

Analyst consensus estimates — not the company's own guidance.

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$664.3M

Net margin

5.3%

ROE

4.0%

Revenue CAGR (2y)

-0.2%

EPS (FY2025)

0.59

Net profit (FY2025)

$35.4M

Ask MarketChacha about VECO

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Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$664.3M	$35.4M	0.59	5.3%	4.0%
FY2024	$717.3M	$73.7M	1.23	10.3%	9.6%
FY2023	$666.4M	$-30.4M	-0.56	-4.6%	-4.5%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$193.5M	$11.9M	0.18	6.1%
2026Q1	$158.3M	$-324,000	-0.01	-0.2%
2025Q3	$165.9M	$10.6M	0.17	6.4%
2025Q2	$166.1M	$11.7M	0.20	7.1%
2025Q1	$167.3M	$11.9M	0.20	7.1%
2024Q3	$184.8M	$22.0M	0.36	11.9%
2024Q2	$175.9M	$14.9M	0.25	8.5%
2024Q1	$174.5M	$21.9M	0.37	12.5%
2023Q3	$177.4M	$24.6M	0.42	13.9%
2023Q2	$161.6M	$-85.3M	-1.61	-52.8%
2023Q1	$153.5M	$8.7M	0.17	5.7%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Results of operations, Exhibits
SEC8/5/2026material
10-Q filing
SEC8/5/2026
8-K — Shareholder vote results
SEC5/7/2026material
8-K — Results of operations, Exhibits
SEC5/5/2026material
10-Q filing
SEC5/5/2026
8-K — Results of operations, Exhibits
SEC2/25/2026material
10-K filing
SEC2/25/2026
8-K — Shareholder vote results, Reg FD disclosure, Exhibits
SEC2/6/2026material
8-K — Other events
SEC2/2/2026material
8-K — Other events
SEC1/28/2026material

2025

8-K — Results of operations, Exhibits
SEC11/5/2025material
10-Q filing
SEC11/5/2025
8-K — Reg FD disclosure
SEC10/7/2025material
8-K — Material agreement, Other events, Exhibits
SEC10/1/2025material
8-K — Results of operations, Exhibits
SEC8/6/2025material
10-Q filing
SEC8/6/2025

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.