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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 233.91
VECO's Cash to Debt is ranked higher than
76% of the 835 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 1.78 vs. VECO: 233.91 )
Ranked among companies with meaningful Cash to Debt only.
VECO' s 10-Year Cash to Debt Range
Min: 0.44  Med: 2.96 Max: No Debt
Current: 233.91
Equity to Asset 0.75
VECO's Equity to Asset is ranked higher than
71% of the 809 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 0.62 vs. VECO: 0.75 )
Ranked among companies with meaningful Equity to Asset only.
VECO' s 10-Year Equity to Asset Range
Min: 0.44  Med: 0.64 Max: 0.88
Current: 0.75
0.44
0.88
F-Score: 5
Z-Score: 2.84
M-Score: -3.20
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 4/10

vs
industry
vs
history
Operating margin (%) -23.34
VECO's Operating margin (%) is ranked lower than
88% of the 826 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 4.52 vs. VECO: -23.34 )
Ranked among companies with meaningful Operating margin (%) only.
VECO' s 10-Year Operating margin (%) Range
Min: -46.14  Med: 4.81 Max: 32.58
Current: -23.34
-46.14
32.58
Net-margin (%) -22.53
VECO's Net-margin (%) is ranked lower than
87% of the 826 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 4.08 vs. VECO: -22.53 )
Ranked among companies with meaningful Net-margin (%) only.
VECO' s 10-Year Net-margin (%) Range
Min: -41.4  Med: 1.04 Max: 38.86
Current: -22.53
-41.4
38.86
ROE (%) -13.03
VECO's ROE (%) is ranked lower than
81% of the 814 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 5.46 vs. VECO: -13.03 )
Ranked among companies with meaningful ROE (%) only.
VECO' s 10-Year ROE (%) Range
Min: -33.83  Med: -0.36 Max: 64.51
Current: -13.03
-33.83
64.51
ROA (%) -10.35
VECO's ROA (%) is ranked lower than
83% of the 837 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 2.83 vs. VECO: -10.35 )
Ranked among companies with meaningful ROA (%) only.
VECO' s 10-Year ROA (%) Range
Min: -18.18  Med: -0.16 Max: 41.26
Current: -10.35
-18.18
41.26
ROC (Joel Greenblatt) (%) -109.39
VECO's ROC (Joel Greenblatt) (%) is ranked lower than
93% of the 835 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 9.42 vs. VECO: -109.39 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
VECO' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -92.49  Med: 7.49 Max: 273.13
Current: -109.39
-92.49
273.13
Revenue Growth (3Y)(%) -25.10
VECO's Revenue Growth (3Y)(%) is ranked lower than
86% of the 551 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: -1.50 vs. VECO: -25.10 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
VECO' s 10-Year Revenue Growth (3Y)(%) Range
Min: -26.9  Med: 5.40 Max: 19.1
Current: -25.1
-26.9
19.1
» VECO's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q3 2014

VECO Guru Trades in Q3 2014

Caxton Associates 51,200 sh (New)
First Pacific Advisors 512,900 sh (+4.08%)
Murray Stahl 9,700 sh (unchged)
FPA Capital Fund 241,700 sh (unchged)
Ken Fisher 2,149,221 sh (-0.07%)
Chuck Royce 1,979,164 sh (-4.87%)
Robert Karr 1,093,387 sh (-18.88%)
» More
Q4 2014

VECO Guru Trades in Q4 2014

FPA Capital Fund 241,700 sh (unchged)
Ken Fisher 2,122,674 sh (unchged)
Robert Karr 698,156 sh (unchged)
Chuck Royce 1,687,311 sh (unchged)
Murray Stahl 9,700 sh (unchged)
Caxton Associates Sold Out
First Pacific Advisors 509,700 sh (-0.62%)
Ken Fisher 2,122,674 sh (-1.24%)
Chuck Royce 1,687,311 sh (-14.75%)
Robert Karr 698,156 sh (-36.15%)
» More
Q1 2015

VECO Guru Trades in Q1 2015

Jim Simons 68,100 sh (New)
Chuck Royce 1,803,991 sh (+6.92%)
FPA Capital Fund 241,700 sh (unchged)
Robert Karr Sold Out
Ken Fisher 2,087,149 sh (-1.67%)
Murray Stahl 9,100 sh (-6.19%)
First Pacific Advisors 449,800 sh (-11.75%)
» More
Q2 2015

VECO Guru Trades in Q2 2015

Jim Simons 274,100 sh (+302.50%)
First Pacific Advisors 770,402 sh (+71.28%)
FPA Capital Fund 357,427 sh (+47.88%)
Chuck Royce 2,013,281 sh (+11.60%)
Ken Fisher 1,889,443 sh (-9.47%)
Murray Stahl 8,100 sh (-10.99%)
» More
» Details

Insider Trades

Latest Guru Trades with VECO

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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Guru Investment Theses on Veeco Instruments Inc

FPA Capital Fund Comments on Veeco Instruments - Jul 23, 2014

Among a few stocks that had negative returns in the quarter, Veeco Instruments (VECO) and Titan International (TWI) are also among the smaller positions in the portfolio. VECO declined 11.1% in the June quarter, but not enough for us to add to the position.

From FPA Capital Fund (Trades, Portfolio)’s Second Quarter 2014 Commentary.

Check out FPA Capital Fund latest stock trades

Ratios

vs
industry
vs
history
Forward P/E 16.37
VECO's Forward P/E is ranked higher than
51% of the 279 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 16.50 vs. VECO: 16.37 )
Ranked among companies with meaningful Forward P/E only.
N/A
P/B 1.33
VECO's P/B is ranked higher than
53% of the 801 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 1.40 vs. VECO: 1.33 )
Ranked among companies with meaningful P/B only.
VECO' s 10-Year P/B Range
Min: 0.48  Med: 1.93 Max: 4.99
Current: 1.33
0.48
4.99
P/S 2.06
VECO's P/S is ranked lower than
68% of the 826 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 1.28 vs. VECO: 2.06 )
Ranked among companies with meaningful P/S only.
VECO' s 10-Year P/S Range
Min: 0.3  Med: 1.71 Max: 4.66
Current: 2.06
0.3
4.66
PFCF 17.18
VECO's PFCF is ranked lower than
53% of the 434 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 16.79 vs. VECO: 17.18 )
Ranked among companies with meaningful PFCF only.
VECO' s 10-Year PFCF Range
Min: 3.89  Med: 20.96 Max: 3815
Current: 17.18
3.89
3815
POCF 12.67
VECO's POCF is ranked lower than
54% of the 574 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 11.58 vs. VECO: 12.67 )
Ranked among companies with meaningful POCF only.
VECO' s 10-Year POCF Range
Min: 2.85  Med: 15.13 Max: 3983
Current: 12.67
2.85
3983
Shiller P/E 13.16
VECO's Shiller P/E is ranked higher than
76% of the 253 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 26.10 vs. VECO: 13.16 )
Ranked among companies with meaningful Shiller P/E only.
VECO' s 10-Year Shiller P/E Range
Min: 12.91  Med: 22.54 Max: 61.01
Current: 13.16
12.91
61.01
Current Ratio 2.73
VECO's Current Ratio is ranked higher than
60% of the 825 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 2.23 vs. VECO: 2.73 )
Ranked among companies with meaningful Current Ratio only.
VECO' s 10-Year Current Ratio Range
Min: 2.31  Med: 3.35 Max: 7.31
Current: 2.73
2.31
7.31
Quick Ratio 2.44
VECO's Quick Ratio is ranked higher than
66% of the 825 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 1.72 vs. VECO: 2.44 )
Ranked among companies with meaningful Quick Ratio only.
VECO' s 10-Year Quick Ratio Range
Min: 1.44  Med: 2.51 Max: 6.72
Current: 2.44
1.44
6.72
Days Inventory 71.75
VECO's Days Inventory is ranked higher than
55% of the 802 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 79.04 vs. VECO: 71.75 )
Ranked among companies with meaningful Days Inventory only.
VECO' s 10-Year Days Inventory Range
Min: 62.28  Med: 138.08 Max: 220.32
Current: 71.75
62.28
220.32
Days Sales Outstanding 69.46
VECO's Days Sales Outstanding is ranked lower than
57% of the 767 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 62.19 vs. VECO: 69.46 )
Ranked among companies with meaningful Days Sales Outstanding only.
VECO' s 10-Year Days Sales Outstanding Range
Min: 26.21  Med: 71.76 Max: 91.33
Current: 69.46
26.21
91.33

Valuation & Return

vs
industry
vs
history
Price/Net Cash 6.09
VECO's Price/Net Cash is ranked higher than
56% of the 264 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 7.29 vs. VECO: 6.09 )
Ranked among companies with meaningful Price/Net Cash only.
VECO' s 10-Year Price/Net Cash Range
Min: 2.55  Med: 5.68 Max: 82.08
Current: 6.09
2.55
82.08
Price/Net Current Asset Value 2.55
VECO's Price/Net Current Asset Value is ranked higher than
62% of the 562 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 3.34 vs. VECO: 2.55 )
Ranked among companies with meaningful Price/Net Current Asset Value only.
VECO' s 10-Year Price/Net Current Asset Value Range
Min: 1.39  Med: 4.76 Max: 259.44
Current: 2.55
1.39
259.44
Price/Tangible Book 1.99
VECO's Price/Tangible Book is ranked lower than
59% of the 778 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 1.56 vs. VECO: 1.99 )
Ranked among companies with meaningful Price/Tangible Book only.
VECO' s 10-Year Price/Tangible Book Range
Min: 1.06  Med: 3.39 Max: 9.8
Current: 1.99
1.06
9.8
Price/Projected FCF 0.75
VECO's Price/Projected FCF is ranked higher than
84% of the 313 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 1.39 vs. VECO: 0.75 )
Ranked among companies with meaningful Price/Projected FCF only.
VECO' s 10-Year Price/Projected FCF Range
Min: 0.52  Med: 1.90 Max: 103.17
Current: 0.75
0.52
103.17
Price/Median PS Value 1.20
VECO's Price/Median PS Value is ranked lower than
70% of the 778 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 0.91 vs. VECO: 1.20 )
Ranked among companies with meaningful Price/Median PS Value only.
VECO' s 10-Year Price/Median PS Value Range
Min: 0.26  Med: 1.11 Max: 4.33
Current: 1.2
0.26
4.33
Earnings Yield (Greenblatt) (%) -18.83
VECO's Earnings Yield (Greenblatt) (%) is ranked lower than
89% of the 828 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 3.60 vs. VECO: -18.83 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
VECO' s 10-Year Earnings Yield (Greenblatt) (%) Range
Min: -18.83  Med: 6.80 Max: 86.8
Current: -18.83
-18.83
86.8
Forward Rate of Return (Yacktman) (%) 1.26
VECO's Forward Rate of Return (Yacktman) (%) is ranked lower than
58% of the 346 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 4.47 vs. VECO: 1.26 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
VECO' s 10-Year Forward Rate of Return (Yacktman) (%) Range
Min: -1.2  Med: 3.90 Max: 16.5
Current: 1.26
-1.2
16.5

Analyst Estimate

Dec15 Dec16 Dec17
Revenue(Mil) 524 608 728
EPS($) 0.50 1.41 1.67
EPS without NRI($) 0.50 1.41 1.67

Business Description

Industry: Semiconductors » Semiconductor Equipment & Materials
Compare:ASML, AMAT, TOELY, KLAC, LRCX » details
Traded in other countries:VEO.Germany,
Veeco Instruments Inc was organized as a Delaware corporation in 1989. The Company through its subsidiaries creates Process Equipment solutions that enable technologies for a cleaner and more productive world. The Company designs, manufactures and markets equipment primarily sold to make light emitting diodes and hard-disk drives, as well as for emerging applications such as concentrator photovoltaics, power semiconductors, wireless components, micro-electromechanical systems, and other next-generation devices. Its two business segments are LED & Solar and Data Storage. LED & Solar segment designs and manufactures metal organic chemical vapor deposition and molecular beam epitaxy systems and components sold to manufacturers of LEDs, wireless devices, power semiconductors, and concentrator photovoltaics, as well as to R&D applications. Data Storage segment designs and manufactures the critical technologies used to create thin film magnetic heads that read and write data on hard disk drives. These technologies include ion beam etch, ion beam deposition, diamond-like carbon, physical vapor deposition, chemical vapor deposition, and slicing, dicing and lapping systems. The Company sells its products and services through various strategically located sales and service facilities in the U.S., Europe and Asia Pacific. The Company sells its products to many of the many HB LED, solar and hard drive manufacturers as well as to customers in other industries, research centers, and universities. It currently outsources certain functions to third parties, including the manufacture of all or substantially all of its new MOCVD systems, Data Storage systems and ion sources. The Company competes with manufacturers such as Aixtron, Applied Materials, Canon Anelva Corporation, DCA Instruments, Leybold Optics, Oerlikon Balzers, Oxford Instruments, Toyo Nippon Sanso and Riber. The Company is subject to environmental, health and safety regulations in connection with its business operations, including but not limited to regulations related to the development, manufacture, and use of its products.
» More Articles for VECO

Headlines

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FPA Capital Fund new buys in Q2 2015 Jul 14 2015 
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FPA Capital Fund Second Quarter 2014 Commentary Jul 23 2014 
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Follow Robert Karr Hunting for Quality Globally Feb 12 2014 
Weekly Insider Sells Highlight: FRX, AXP, WFC, BBT, VECO Jan 26 2014 
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