Veeco Instruments Inc
NASDAQ:VECO

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Veeco Instruments Inc Logo
Veeco Instruments Inc
NASDAQ:VECO
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Price: 28.7 USD -0.31% Market Closed
Market Cap: 1.6B USD
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Intrinsic Value

The intrinsic value of one VECO stock under the Base Case scenario is 38.96 USD. Compared to the current market price of 28.7 USD, Veeco Instruments Inc is Undervalued by 26%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

VECO Intrinsic Value
38.96 USD
Undervaluation 26%
Intrinsic Value
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Veeco Instruments Inc

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
Veeco Instruments Inc

Current Assets 718.2m
Cash & Short-Term Investments 304.9m
Receivables 131.8m
Other Current Assets 281.5m
Non-Current Assets 516.9m
PP&E 140.8m
Intangibles 255.2m
Other Non-Current Assets 120.9m
Current Liabilities 204m
Accounts Payable 46.9m
Accrued Liabilities 50.1m
Other Current Liabilities 107m
Non-Current Liabilities 316.1m
Long-Term Debt 249.1m
Other Non-Current Liabilities 67m
Efficiency

Earnings Waterfall
Veeco Instruments Inc

Revenue
701.7m USD
Cost of Revenue
-395.3m USD
Gross Profit
306.4m USD
Operating Expenses
-221.1m USD
Operating Income
85.3m USD
Other Expenses
-2.2m USD
Net Income
83m USD

Free Cash Flow Analysis
Veeco Instruments Inc

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

Veeco reported Q2 2024 revenue of $176 million, up 9% from last year, driven by record laser annealing orders. The semiconductor business, comprising 63% of total revenue, experienced high demand, while compound semiconductor revenue dropped to $18 million. Operating expenses exceeded guidance due to R&D costs, but net income was approximately $25 million. Veeco raised its 2024 revenue guidance to $690-$730 million, expecting net income between $1.65 to $1.85 per share. Forecast for Q3 includes revenue of $170-$190 million, with net income projected between $24 and $31 million.

What is Earnings Call?
Fundamental Scores

VECO Profitability Score
Profitability Due Diligence

Veeco Instruments Inc's profitability score is 56/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Positive Free Cash Flow
ROE is Increasing
Positive 3-Years Revenue Growth
56/100
Profitability
Score

Veeco Instruments Inc's profitability score is 56/100. The higher the profitability score, the more profitable the company is.

VECO Solvency Score
Solvency Due Diligence

Veeco Instruments Inc's solvency score is 66/100. The higher the solvency score, the more solvent the company is.

Short-Term Solvency
Low D/E
High Altman Z-Score
Long-Term Solvency
66/100
Solvency
Score

Veeco Instruments Inc's solvency score is 66/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

VECO Price Targets Summary
Veeco Instruments Inc

Wall Street analysts forecast VECO stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for VECO is 42.69 USD with a low forecast of 35.35 USD and a high forecast of 57.75 USD.

Lowest
Price Target
35.35 USD
23% Upside
Average
Price Target
42.69 USD
49% Upside
Highest
Price Target
57.75 USD
101% Upside
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Dividends

Veeco Instruments Inc
does not pay dividends
Shareholder Yield

Current shareholder yield for VECO is .

Shareholder yield represents the total return a company provides to its shareholders, calculated as the sum of dividend yield, buyback yield, and debt paydown yield. What is shareholder yield?

Shareholder Yield
Dividend Yield
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Ownership

VECO Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
6 Months
9 Months
12 Months
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VECO News

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Profile

Veeco Instruments Inc Logo
Veeco Instruments Inc

Country

United States of America

Industry

Semiconductors

Market Cap

1.6B USD

Dividend Yield

0%

Description

Veeco Instruments, Inc. engages in the development, manufacture, sale and support of semiconductor process equipment. The company is headquartered in Plainview, New York and currently employs 1,091 full-time employees. The Company’s products include Laser Annealing Systems, Ion Beam Systems and Etch Systems, Metal Organic Chemical Vapor Deposition Systems, Advanced Packaging Lithography, Single Wafer Wet Processing, Molecular Beam Epitaxy Systems, Atomic Layer Deposition Systems and Others. Its other deposition systems include Physical Vapor Deposition, Diamond-Like Carbon Deposition, and Chemical Vapor Deposition Systems. Its process equipment systems are used in the production of a range of microelectronic components, including logic, dynamic random-access memory (DRAM); photonics devices, power electronics, radio frequency (RF) filters and amplifiers, magnetic heads for hard disk drives, and other semiconductor devices. The company sells its products and services through various strategically located facilities in the United States, Europe, and the Asia-Pacific region.

Contact

NEW YORK
Plainview
Terminal Drive
+15166770200.0
www.veeco.com

IPO

1994-01-01

Employees

1 091

Officers

CEO & Director
Dr. William John Miller Ph.D.
Senior VP & CFO
Mr. John P. Kiernan
Senior Vice President of Global Sales & Services
Ms. Susan Wilkerson
Senior Vice President of Unified Engineering
Dr. Peter Porshnev Ph.D.
Senior Vice President of Product Line Management
Dr. Adrian Devasahayam Ph.D.
Senior Vice President of Global Operations
Mr. Jean-Charles Bossert
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Chief Administrative Officer
Mr. Robert W. Bradshaw
Head of Investor Relations
Anthony Pappone
VP, Head of Legal, General Counsel & Secretary
Mr. Kirk W. Mackey
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See Also

Discover More
What is the Intrinsic Value of one VECO stock?

The intrinsic value of one VECO stock under the Base Case scenario is 38.96 USD.

Is VECO stock undervalued or overvalued?

Compared to the current market price of 28.7 USD, Veeco Instruments Inc is Undervalued by 26%.

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