Stocks · Technology · Semiconductors
Veeco Instruments Inc. VECO
$57.38 +7.88% Close, Oct 2, 2026 · NASDAQ · Market cap $3.50B
Next earnings report: Nov 4, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Diluted EPS over the last four quarters was $0.36, down 64.4% year over year.
- At 158.2× trailing earnings, the shares trade at the highest P/E of the company's past five years.
- The diluted share count rose 10.9% in a year.
PromtFinance scores
Each score is a percentile within the Technology sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 13%
- EPS growth (TTM, YoY)Bottom 16%
- FCF growth (TTM, YoY)Top 26%
- Revenue growth, 3-year CAGRBottom 32%
- Revenue growth accelerationTop 20%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 45%
- Gross marginBottom 32%
- Operating marginBottom 45%
- Cash conversion (OCF / net income)Top 11%
- Accruals (lower is better)Bottom 43%
- Net debt / EBITDA (lower is better)Bottom 45%
- Interest coverBottom 45%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 45%
- Free-cash-flow yieldBottom 47%
- EBITDA / enterprise valueBottom 39%
- Sales / enterprise valueBottom 41%
- P/E vs own 5-year history (lower is better)Bottom 4%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 31%
- 6-month returnTop 20%
- 1-year return vs S&P 500Top 20%
- Distance from 52-week highBottom 44%
- Trend checklist (0–4)Top 18%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 40%
- Consecutive EPS beatsBottom 31%
- Share of analysts rating BuyBottom 32%
- Upside to consensus price targetBottom 24%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 41%
- Maximum drawdown, 3 yearsBottom 43%
- Beta vs S&P 500 (lower is better)Top 45%
- Net debt / EBITDA (lower is better)Bottom 45%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | -7.7% | -2.5% | ↑ |
| EPS growth (YoY) | -64.2% | -64.4% | ↓ |
| Gross margin | 41.5% | 37.8% | ↓ |
| Operating margin | 7.8% | 3.3% | ↓ |
| FCF margin | 7.9% | 12.5% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | -2.5% | -7.7% | ↑ | Bottom 13% |
| EPS growth (TTM, YoY) | -64.4% | -64.2% | ↓ | Bottom 16% |
| Gross margin | 37.8% | 41.5% | ↓ | Bottom 32% |
| Operating margin | 3.3% | 7.8% | ↓ | Bottom 45% |
| Net margin | 3.4% | 8.7% | ↓ | — |
| Free-cash-flow margin | 12.5% | 7.9% | ↑ | — |
| Return on invested capital | 1.9% | — | Bottom 45% | |
| Revenue growth, 3-year CAGR | 0.9% | — | Bottom 32% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 3.00×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -5.4%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 3.9%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +6.3 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 0.80×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 2.6×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- -0.09%
- Shareholder yield
- -0.09%
- Share count change, 1 year
- +10.9%
- Share count change, 3-year CAGR
- +8.1%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 5, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 1
- Beats in the last 8 reports
- 6 of 8
- Average EPS surprise, last 4
- +5.6%
- Average 2-day reaction, last 8
- -0.5%
- Positive 20 days after report
- 5 of 8
Analysts
- Consensus price target
- $60.50
- Target vs current price
- +5.4%
- Analysts with a rating
- 36
- Share rating Buy or Strong Buy
- 53%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 5, 2026 | +28.0% | -1.6% | -6.8% | -21.8% | — |
| May 5, 2026 | -30.0% | -2.7% | +20.2% | +19.8% | -5.0% |
| Feb 25, 2026 | -4.0% | -3.1% | +10.6% | +17.1% | +92.9% |
| Nov 5, 2025 | +28.6% | +1.4% | +5.3% | +8.3% | +8.5% |
| Aug 6, 2025 | +63.6% | +0.0% | +21.8% | +18.3% | +47.1% |
| May 7, 2025 | +15.6% | -1.6% | +10.5% | +6.3% | +6.5% |
| Feb 12, 2025 | +2.5% | -0.1% | +5.1% | -9.6% | -16.0% |
| Nov 6, 2024 | +2.2% | +3.3% | -4.0% | -0.5% | -12.9% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 5, 2026 | $0.33 | $0.26 | +28.0% | $193.5M |
| May 5, 2026 | $0.14 | $0.20 | -30.0% | $158.3M |
| Feb 25, 2026 | $0.24 | $0.25 | -4.0% | $165.0M |
| Nov 5, 2025 | $0.36 | $0.28 | +28.6% | $165.9M |
| Aug 6, 2025 | $0.36 | $0.22 | +63.6% | $166.1M |
| May 7, 2025 | $0.37 | $0.32 | +15.6% | $167.3M |
| Feb 12, 2025 | $0.41 | $0.40 | +2.5% | $182.1M |
| Nov 6, 2024 | $0.46 | $0.45 | +2.2% | $184.8M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 158.2× | 29.7× | 100th | Bottom 45% |
| P/E (forward) | 38.3× | — | — | — |
| EV / EBITDA | 66.2× | — | — | Bottom 39% |
| EV / Sales | 5.19× | — | — | Bottom 41% |
| Free-cash-flow yield | 2.43% | — | — | Bottom 47% |
| Earnings yield | 0.63% | — | — | Bottom 45% |
P/E over the past five years
Range 7.3× – 146.0× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +73.5%
- Earnings per share growth (TTM)
- -64.4%
- Change in P/E multiple
- +646.9%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✓ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 6
- Days above the 200-day average
- 8
- 50-day average slope (20 days)
- -10.0%
- 200-day average slope (20 days)
- +3.7%
- Distance from 50-day average
- +20.4%
- Distance from 200-day average
- +26.4%
- RSI (14)
- 73.1
- Relative volume
- 2.22×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 68.5%
- Volatility vs own 5-year history
- 92th percentile · High for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.35
- Correlation with S&P 500
- 0.37
- Current drawdown from 1-year high
- -30.9%
- Maximum drawdown, 3 years
- -64.2%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Jul 10, 2024 | Apr 8, 2025 | -64.2% | 187 days | 260 days (Apr 22, 2026) |
| Jun 15, 2026 | Sep 15, 2026 | -50.8% | 63 days | Not yet recovered |
| Jan 14, 2022 | Oct 12, 2022 | -46.5% | 186 days | 318 days (Jan 19, 2024) |
| Jun 14, 2021 | Aug 19, 2021 | -18.8% | 47 days | 53 days (Nov 3, 2021) |
| Dec 22, 2020 | Dec 29, 2020 | -14.1% | 4 days | 6 days (Jan 7, 2021) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $3.50B
- P/E (TTM)
- 158.2
- EPS, diluted (TTM)
- $0.36
- Revenue (TTM)
- $682.7M
- 52-week range
- $26.00 – $86.63
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $583.3M | $646.1M | $666.4M | $717.3M | $664.3M |
| Gross profit | $242.3M | $263.1M | $285.1M | $304.0M | $265.4M |
| Operating income | $56.7M | $60.3M | $69.9M | $67.0M | $35.7M |
| Net income | $26.0M | $166.9M | -$30.4M | $73.7M | $35.4M |
| EPS (diluted) | $0.49 | $2.71 | -$0.56 | $1.23 | $0.59 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $184.8M | $182.1M | $167.3M | $166.1M | $165.9M | $165.0M | $158.3M | $193.5M |
| Net income | $22.0M | $15.0M | $11.9M | $11.7M | $10.6M | $1.1M | -$324,000 | $11.9M |
| EPS (diluted) | $0.36 | $0.26 | $0.20 | $0.20 | $0.17 | $0.02 | -$0.01 | $0.18 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $67.7M | $108.5M | $61.7M | $63.8M | $63.8M |
| Capital expenditure | -$40.6M | -$24.6M | -$27.9M | -$18.1M | -$18.1M |
| Free cash flow | $27.1M | $83.9M | $33.7M | $45.7M | $45.7M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $3.4M | $3.7M | $4.6M | $5.3M | $4.7M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $429.4M
- Total assets
- $1.41B
- Total liabilities
- $511.7M
- Total debt
- $257.0M
- Net debt
- $42.6M
- Shareholders’ equity
- $902.8M
As of Jun 30, 2026 (filed Aug 5, 2026).
Short interest
- Shares sold short
- 5,775,038
- Days to cover
- 10.62
- Change vs previous report
- +0.8%
FINRA short interest, settlement date Sep 15, 2026.