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Stocks · Industrials · Special Industry Machinery, NEC

VEECO INSTRUMENTS INC

VECO Clue Score38
United States Fiscal year ends December CIK 0000103145
$52.28 +1.61% Close, 9 Oct 2026
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Price $52.28 +125.15% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue331.7Operating income−120.2Net income−122.0EPS, diluted−3.10Fiscal year 2017Revenue475.7 +43.4%Operating income−71.9Net income−51.4EPS, diluted−1.16Fiscal year 2018Revenue542.1 +14.0%Operating income−415.5Net income−407.1EPS, diluted−8.63Fiscal year 2019Revenue419.3 −22.6%Operating income−39.6Net income−78.7EPS, diluted−1.66Fiscal year 2020Revenue454.2 +8.3%Operating income22.6Net income−8.4EPS, diluted−0.17Fiscal year 2021Revenue583.3 +28.4%Operating income56.7Net income26.0EPS, diluted0.49Fiscal year 2022Revenue646.1 +10.8%Operating income60.3Net income166.9 +541.1%EPS, diluted2.71 +453.1%Fiscal year 2023Revenue666.4 +3.1%Operating income69.9Net income−30.4 −118.2%EPS, diluted−0.56 −120.7%Fiscal year 2024Revenue717.3 +7.6%Operating income67.0Net income73.7EPS, diluted1.23Fiscal year 2025Revenue664.3 −7.4%Operating income35.7Net income35.4 −52.0%EPS, diluted0.59 −52.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 331.7 475.7 542.1 419.3 454.2 583.3 646.1 666.4 717.3 664.3
Growth +43.4% +14.0% −22.6% +8.3% +28.4% +10.8% +3.1% +7.6% −7.4%
Operating income −120.2 −71.9 −415.5 −39.6 22.6 56.7 60.3 69.9 67.0 35.7
Net income −122.0 −51.4 −407.1 −78.7 −8.4 26.0 166.9 −30.4 73.7 35.4
Growth +541.1% −118.2% −52.0%
EPS, diluted −3.10 −1.16 −8.63 −1.66 −0.17 0.49 2.71 −0.56 1.23 0.59
Growth +453.1% −120.7% −52.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin40.1%Operating margin−36.2%Net margin−36.8%Free cash flow margin−10.6%Fiscal year 2017Gross margin37.0%Operating margin−15.1%Net margin−10.8%Free cash flow margin2.3%Fiscal year 2018Gross margin35.7%Operating margin−76.6%Net margin−75.1%Free cash flow margin−9.3%Fiscal year 2019Gross margin37.7%Operating margin−9.4%Net margin−18.8%Free cash flow margin−4.4%Fiscal year 2020Gross margin42.8%Operating margin5.0%Net margin−1.8%Free cash flow margin8.0%Fiscal year 2021Gross margin41.5%Operating margin9.7%Net margin4.5%Free cash flow margin4.6%Fiscal year 2022Gross margin40.7%Operating margin9.3%Net margin25.8%Free cash flow margin13.0%Fiscal year 2023Gross margin42.8%Operating margin10.5%Net margin−4.6%Free cash flow margin5.1%Fiscal year 2024Gross margin42.4%Operating margin9.3%Net margin10.3%Free cash flow margin6.4%Fiscal year 2025Gross margin40.0%Operating margin5.4%Net margin5.3%Free cash flow margin8.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 40.1% 37.0% 35.7% 37.7% 42.8% 41.5% 40.7% 42.8% 42.4% 40.0%
Operating margin −36.2% −15.1% −76.6% −9.4% 5.0% 9.7% 9.3% 10.5% 9.3% 5.4%
Net margin −36.8% −10.8% −75.1% −18.8% −1.8% 4.5% 25.8% −4.6% 10.3% 5.3%
Free cash flow margin −10.6% 2.3% −9.3% −4.4% 8.0% 4.6% 13.0% 5.1% 6.4% 8.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−23.8Capital expenditure−11.5Free cash flow−35.3Buybacks−13.3Fiscal year 2017Operating cash flow35.0Capital expenditure−24.3Free cash flow10.7Buybacks−2.9Fiscal year 2018Operating cash flow−37.7Capital expenditure−12.7Free cash flow−50.4 −570.0%Buybacks−11.5Fiscal year 2019Operating cash flow−7.4Capital expenditure−10.9Free cash flow−18.3Fiscal year 2020Operating cash flow43.0Capital expenditure−6.8Free cash flow36.2Fiscal year 2021Operating cash flow67.7Capital expenditure−40.6Free cash flow27.1 −25.2%Fiscal year 2022Operating cash flow108.5Capital expenditure−24.6Free cash flow83.9 +209.5%Fiscal year 2023Operating cash flow61.7Capital expenditure−27.9Free cash flow33.7 −59.8%Fiscal year 2024Operating cash flow63.8Capital expenditure−18.1Free cash flow45.7 +35.4%Fiscal year 2025Operating cash flow69.5Capital expenditure−16.2Free cash flow53.3 +16.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −23.8 35.0 −37.7 −7.4 43.0 67.7 108.5 61.7 63.8 69.5
Capital expenditure −11.5 −24.3 −12.7 −10.9 −6.8 −40.6 −24.6 −27.9 −18.1 −16.2
Free cash flow −35.3 10.7 −50.4 −18.3 36.2 27.1 83.9 33.7 45.7 53.3
Growth −570.0% −25.2% +209.5% −59.8% +35.4% +16.6%
Buybacks −13.3 −2.9 −11.5 n/a n/a n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash277.4Total debt1.2Net cash (debt)276.3Shareholders’ equity601.7Debt to equity0.00Fiscal year 2017Cash279.7Total debt275.6Net cash (debt)4.1Shareholders’ equity840.1Debt to equity0.33Fiscal year 2018Cash212.3Total debt287.4Net cash (debt)−75.1Shareholders’ equity437.8Debt to equity0.66Fiscal year 2019Cash129.3Total debt300.1Net cash (debt)−170.8Shareholders’ equity374.5Debt to equity0.80Fiscal year 2020Cash129.6Total debt321.1Net cash (debt)−191.5Shareholders’ equity408.4Debt to equity0.79Fiscal year 2021Cash119.7Total debt229.4Net cash (debt)−109.7Shareholders’ equity437.6Debt to equity0.52Fiscal year 2022Cash154.9Total debt274.7Net cash (debt)−119.7Shareholders’ equity577.8Debt to equity0.48Fiscal year 2023Cash158.8Total debt274.9Net cash (debt)−116.2Shareholders’ equity672.4Debt to equity0.41Fiscal year 2024Cash145.6Total debt276.2Net cash (debt)−130.6Shareholders’ equity770.8Debt to equity0.36Fiscal year 2025Cash163.5Total debt226.0Net cash (debt)−62.5Shareholders’ equity885.5Debt to equity0.26
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 277.4 279.7 212.3 129.3 129.6 119.7 154.9 158.8 145.6 163.5
Total debt 1.2 275.6 287.4 300.1 321.1 229.4 274.7 274.9 276.2 226.0
Net cash (debt) 276.3 4.1 −75.1 −170.8 −191.5 −109.7 −119.7 −116.2 −130.6 −62.5
Shareholders’ equity 601.7 840.1 437.8 374.5 408.4 437.6 577.8 672.4 770.8 885.5
Debt to equity 0.00 0.33 0.66 0.80 0.79 0.52 0.48 0.41 0.36 0.26

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
331.7 475.7 542.1 419.3 454.2 583.3 646.1 666.4 717.3 664.3
Growth +43.4% +14.0% −22.6% +8.3% +28.4% +10.8% +3.1% +7.6% −7.4%
198.6 299.5 348.4 261.2 259.9 341.0 383.0 381.4 413.3 398.9
133.1 176.2 193.7 158.2 194.3 242.3 263.1 285.1 304.0 265.4
Growth +32.4% +9.9% −18.3% +22.8% +24.7% +8.6% +8.3% +6.6% −12.7%
81.0 82.0 97.8 90.6 79.0 88.7 103.6 112.9 124.5 119.6
77.6 100.3 92.1 79.7 76.3 84.5 89.0 92.8 99.7 98.9
−120.2 −71.9 −415.5 −39.6 22.6 56.7 60.3 69.9 67.0 35.7
Growth +151.3% +6.3% +16.0% −4.2% −46.7%
−119.2 −89.0 −433.8 −78.0 −8.5 25.7 51.0 −28.3 68.8 39.4
2.8 −37.6 −26.7 0.8 −0.1 −0.4 −116.0 2.0 −4.9 4.0
−122.0 −51.4 −407.1 −78.7 −8.4 26.0 166.9 −30.4 73.7 35.4
Growth +541.1% −118.2% −52.0%
Per share
−3.10 −1.16 −8.63 −1.66 −0.17 0.53 3.35 −0.56 1.31 0.60
−3.10 −1.16 −8.63 −1.66 −0.17 0.49 2.71 −0.56 1.23 0.59
Growth +453.1% −120.7% −52.0%
39.3 44.2 47.2 47.5 48.4 49.1 49.9 53.8 56.4 59.3
39.3 44.2 47.2 47.5 48.4 53.6 65.6 53.8 61.6 60.6
Growth +12.3% +6.7% +0.7% +1.9% +10.9% +22.3% −18.0% +14.6% −1.6%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 7.9% a year over five years.
  • The diluted share count rose 25.3% in five years, which is dilution.
  • Operating margin is flat at 5.4%.
  • A net loss in 6 of 10 years on file.