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Also traded in: Germany

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 : 7/10

vs
industry
vs
history
Cash-to-Debt 288.30
VECO's Cash-to-Debt is ranked higher than
75% of the 730 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 1.66 vs. VECO: 288.30 )
Ranked among companies with meaningful Cash-to-Debt only.
VECO' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.44  Med: 2.13 Max: 288.3
Current: 288.3
0.44
288.3
Equity-to-Asset 0.78
VECO's Equity-to-Asset is ranked higher than
75% of the 726 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 0.62 vs. VECO: 0.78 )
Ranked among companies with meaningful Equity-to-Asset only.
VECO' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.44  Med: 0.62 Max: 0.87
Current: 0.78
0.44
0.87
Piotroski F-Score: 5
Altman Z-Score: 4.37
Beneish M-Score: -2.88
WACC vs ROIC
8.69%
-40.54%
WACC
ROIC
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 : 3/10

vs
industry
vs
history
Operating Margin % -36.22
VECO's Operating Margin % is ranked lower than
91% of the 721 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 4.18 vs. VECO: -36.22 )
Ranked among companies with meaningful Operating Margin % only.
VECO' s Operating Margin % Range Over the Past 10 Years
Min: -36.22  Med: -3.94 Max: 32.58
Current: -36.22
-36.22
32.58
Net Margin % -36.76
VECO's Net Margin % is ranked lower than
89% of the 720 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 2.63 vs. VECO: -36.76 )
Ranked among companies with meaningful Net Margin % only.
VECO' s Net Margin % Range Over the Past 10 Years
Min: -36.76  Med: -6.11 Max: 38.86
Current: -36.76
-36.76
38.86
ROE % -18.75
VECO's ROE % is ranked lower than
86% of the 707 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 3.71 vs. VECO: -18.75 )
Ranked among companies with meaningful ROE % only.
VECO' s ROE % Range Over the Past 10 Years
Min: -30.15  Med: -5.32 Max: 64.51
Current: -18.75
-30.15
64.51
ROA % -14.92
VECO's ROA % is ranked lower than
88% of the 728 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 2.05 vs. VECO: -14.92 )
Ranked among companies with meaningful ROA % only.
VECO' s ROA % Range Over the Past 10 Years
Min: -15.68  Med: -3.31 Max: 41.26
Current: -14.92
-15.68
41.26
ROC (Joel Greenblatt) % -141.43
VECO's ROC (Joel Greenblatt) % is ranked lower than
94% of the 727 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 7.93 vs. VECO: -141.43 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
VECO' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -154.46  Med: -16.25 Max: 273.13
Current: -141.43
-154.46
273.13
3-Year Revenue Growth Rate -0.40
VECO's 3-Year Revenue Growth Rate is ranked lower than
58% of the 693 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 2.30 vs. VECO: -0.40 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
VECO' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: -26.9  Med: -0.5 Max: 19.1
Current: -0.4
-26.9
19.1
3-Year EBITDA Growth Rate 17.80
VECO's 3-Year EBITDA Growth Rate is ranked higher than
69% of the 506 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 4.90 vs. VECO: 17.80 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
VECO' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: -65.2  Med: 4.6 Max: 135.6
Current: 17.8
-65.2
135.6
3-Year EPS without NRI Growth Rate 41.80
VECO's 3-Year EPS without NRI Growth Rate is ranked higher than
82% of the 448 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 2.70 vs. VECO: 41.80 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
VECO' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: -80.8  Med: -21.45 Max: 330.9
Current: 41.8
-80.8
330.9
GuruFocus has detected 5 Warning Signs with Veeco Instruments Inc $VECO.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» VECO's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q1 2016

VECO Guru Trades in Q1 2016

Arnold Schneider 196,911 sh (+102.94%)
Barrow, Hanley, Mewhinney & Strauss 135,465 sh (+54.38%)
Jim Simons 1,290,500 sh (+18.57%)
FPA Capital Fund 903,340 sh (+8.71%)
First Pacific Advisors 1,740,820 sh (+6.93%)
Joel Greenblatt Sold Out
Ken Fisher 1,802,323 sh (-1.44%)
Paul Tudor Jones 17,692 sh (-64.38%)
Chuck Royce 2,500 sh (-98.69%)
» More
Q2 2016

VECO Guru Trades in Q2 2016

Jim Simons 1,428,000 sh (+10.65%)
First Pacific Advisors 1,886,986 sh (+8.40%)
FPA Capital Fund 962,000 sh (+6.49%)
Ken Fisher 1,802,418 sh (+0.01%)
Chuck Royce 2,500 sh (unchged)
Paul Tudor Jones Sold Out
Barrow, Hanley, Mewhinney & Strauss 135,285 sh (-0.13%)
Arnold Schneider 196,441 sh (-0.24%)
» More
Q3 2016

VECO Guru Trades in Q3 2016

Chuck Royce 272,677 sh (+10807.08%)
Barrow, Hanley, Mewhinney & Strauss 176,546 sh (+30.50%)
Arnold Schneider 229,210 sh (+16.68%)
FPA Capital Fund 979,330 sh (+1.80%)
Ken Fisher 1,824,643 sh (+1.23%)
Jim Simons 1,438,400 sh (+0.73%)
First Pacific Advisors 1,831,856 sh (-2.92%)
» More
Q4 2016

VECO Guru Trades in Q4 2016

Chuck Royce 274,977 sh (+0.84%)
Barrow, Hanley, Mewhinney & Strauss 176,162 sh (-0.22%)
Jim Simons 1,338,900 sh (-6.92%)
Ken Fisher 1,570,581 sh (-13.92%)
First Pacific Advisors 1,531,780 sh (-16.38%)
FPA Capital Fund 810,280 sh (-17.26%)
Arnold Schneider 178,625 sh (-22.07%)
» 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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Business Description

Industry: Semiconductors » Semiconductor Equipment & Materials    NAICS: 334519    SIC: 3674
Compare:OTCPK:BESIY, NAS:KLIC, NAS:UTEK, NAS:BRKS, NAS:PLAB, NAS:NANO, OTCPK:NDCVF, NAS:XCRA, NAS:UCTT, NAS:NVMI, NAS:ACLS, NAS:XPER, NAS:COHU, OTCPK:AIXNY, NYSE:PKE, OTCPK:IQEPF, NAS:AMBA, OTCPK:RNWEF, NYSE:DQ, NAS:AXTI » details
Traded in other countries:VEO.Germany,
Veeco Instruments Inc design, manufacture, and market thin film equipment. The Company's equipment are sold to make electronic devices including LED, power electronics, wireless devises, hard disk drives and semiconductors.

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 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. 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.

Guru Investment Theses on Veeco Instruments Inc

FPA Capital Comments on Veeco Instruments - Jan 30, 2017

VECO (NASDAQ:VECO) contributed 1.16% to the Fund’s quarterly return, nearly equaling AAN’s contribution in the quarter. VECO appreciated over 48% in the quarter due to an acceleration of orders for its key MOCVD tools. These tools are the main manufacturing equipment used to produce LEDs, whether they are for display screens or, increasingly, for lighting products. We estimate that VECO currently has roughly 80% global market share for MOCVD tools used to make LEDs.



 



From FPA Capital's fourth quarter 2016 commentary.



Check out FPA Capital Fund latest stock trades

Top Ranked Articles about Veeco Instruments Inc

FPA Capital Comments on Veeco Instruments Guru stock highlight
VECO (NASDAQ:VECO) contributed 1.16% to the Fund’s quarterly return, nearly equaling AAN’s contribution in the quarter. VECO appreciated over 48% in the quarter due to an acceleration of orders for its key MOCVD tools. These tools are the main manufacturing equipment used to produce LEDs, whether they are for display screens or, increasingly, for lighting products. We estimate that VECO currently has roughly 80% global market share for MOCVD tools used to make LEDs. Read more...
FPA Capital Fund Continues to Buy Western Digital, Veeco The guru's largest buys during the last 2 quarters
FPA Capital Fund (Trades, Portfolio) has a concentrated portfolio and invests primarily in undervalued small- to mid-cap companies. In both the first and second quarters, the guru bought shares in the following stocks: Read more...
Companies' Prices Near 5-Year Lows Veeco Instruments, Alon USA Energy, Bristow Group and Unisys approach milestones
According to GuruFocus' list of five-year lows, these stocks have reached their five-year lows: Veeco Instruments Inc. (NASDAQ:VECO), Alon USA Energy Inc. (NYSE:ALJ), Bristow Group Inc. (NYSE:BRS) and Unisys Corp. (NYSE:UIS). Read more...
Most-Bought Small Cap Stocks During 4th Quarter 4 smaller companies popular among the gurus
Small cap companies are generally defined as those with capitalizations between $300 million and $2 billion. While these smaller companies tend to present more risk and volatility than larger stocks, they also have a chance of higher returns and tend to have much less coverage from analysts and the media. Read more...

Ratios

vs
industry
vs
history
Forward PE Ratio 36.36
VECO's Forward PE Ratio is ranked lower than
87% of the 114 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 20.20 vs. VECO: 36.36 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PB Ratio 1.85
VECO's PB Ratio is ranked lower than
51% of the 714 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 1.81 vs. VECO: 1.85 )
Ranked among companies with meaningful PB Ratio only.
VECO' s PB Ratio Range Over the Past 10 Years
Min: 0.48  Med: 1.81 Max: 4.99
Current: 1.85
0.48
4.99
PS Ratio 3.29
VECO's PS Ratio is ranked lower than
76% of the 723 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 1.63 vs. VECO: 3.29 )
Ranked among companies with meaningful PS Ratio only.
VECO' s PS Ratio Range Over the Past 10 Years
Min: 0.3  Med: 1.87 Max: 4.66
Current: 3.29
0.3
4.66
Shiller PE Ratio 103.57
VECO's Shiller PE Ratio is ranked lower than
82% of the 99 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 46.87 vs. VECO: 103.57 )
Ranked among companies with meaningful Shiller PE Ratio only.
VECO' s Shiller PE Ratio Range Over the Past 10 Years
Min: 26.9  Med: 54.26 Max: 735.5
Current: 103.57
26.9
735.5
Current Ratio 3.49
VECO's Current Ratio is ranked higher than
69% of the 727 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 2.37 vs. VECO: 3.49 )
Ranked among companies with meaningful Current Ratio only.
VECO' s Current Ratio Range Over the Past 10 Years
Min: 2.36  Med: 3.35 Max: 6.63
Current: 3.49
2.36
6.63
Quick Ratio 2.96
VECO's Quick Ratio is ranked higher than
71% of the 727 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 1.79 vs. VECO: 2.96 )
Ranked among companies with meaningful Quick Ratio only.
VECO' s Quick Ratio Range Over the Past 10 Years
Min: 1.5  Med: 2.76 Max: 6.1
Current: 2.96
1.5
6.1
Days Inventory 149.65
VECO's Days Inventory is ranked lower than
83% of the 705 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 78.95 vs. VECO: 149.65 )
Ranked among companies with meaningful Days Inventory only.
VECO' s Days Inventory Range Over the Past 10 Years
Min: 62.28  Med: 100.25 Max: 160.71
Current: 149.65
62.28
160.71
Days Sales Outstanding 63.70
VECO's Days Sales Outstanding is ranked lower than
51% of the 657 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 62.06 vs. VECO: 63.70 )
Ranked among companies with meaningful Days Sales Outstanding only.
VECO' s Days Sales Outstanding Range Over the Past 10 Years
Min: 26.21  Med: 52.5 Max: 87.3
Current: 63.7
26.21
87.3
Days Payable 41.34
VECO's Days Payable is ranked lower than
60% of the 637 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 49.50 vs. VECO: 41.34 )
Ranked among companies with meaningful Days Payable only.
VECO' s Days Payable Range Over the Past 10 Years
Min: 24.43  Med: 38.61 Max: 57.09
Current: 41.34
24.43
57.09

Buy Back

vs
industry
vs
history
3-Year Average Share Buyback Ratio 0.30
VECO's 3-Year Average Share Buyback Ratio is ranked higher than
80% of the 567 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: -2.20 vs. VECO: 0.30 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
VECO' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -40.5  Med: -2.2 Max: 0.6
Current: 0.3
-40.5
0.6

Valuation & Return

vs
industry
vs
history
Price-to-Net-Cash 6.10
VECO's Price-to-Net-Cash is ranked higher than
65% of the 245 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 10.34 vs. VECO: 6.10 )
Ranked among companies with meaningful Price-to-Net-Cash only.
VECO' s Price-to-Net-Cash Range Over the Past 10 Years
Min: 2.55  Med: 5.19 Max: 34.78
Current: 6.1
2.55
34.78
Price-to-Net-Current-Asset-Value 3.26
VECO's Price-to-Net-Current-Asset-Value is ranked higher than
60% of the 496 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 4.32 vs. VECO: 3.26 )
Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
VECO' s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.39  Med: 3.86 Max: 33.52
Current: 3.26
1.39
33.52
Price-to-Tangible-Book 2.61
VECO's Price-to-Tangible-Book is ranked lower than
64% of the 689 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 1.95 vs. VECO: 2.61 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
VECO' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 1.19  Med: 3.36 Max: 9.81
Current: 2.61
1.19
9.81
Price-to-Intrinsic-Value-Projected-FCF 1.63
VECO's Price-to-Intrinsic-Value-Projected-FCF is ranked lower than
52% of the 461 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 1.54 vs. VECO: 1.63 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
VECO' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 0.52  Med: 1.74 Max: 5.83
Current: 1.63
0.52
5.83
Price-to-Median-PS-Value 1.76
VECO's Price-to-Median-PS-Value is ranked lower than
79% of the 666 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 1.19 vs. VECO: 1.76 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
VECO' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.24  Med: 1.08 Max: 2.06
Current: 1.76
0.24
2.06
Earnings Yield (Greenblatt) % -15.02
VECO's Earnings Yield (Greenblatt) % is ranked lower than
88% of the 697 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 3.00 vs. VECO: -15.02 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
VECO' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: -15.07  Med: 7 Max: 76.7
Current: -15.02
-15.07
76.7

More Statistics

Revenue (TTM) (Mil) $332.5
EPS (TTM) $ -3.12
Beta0.84
Short Percentage of Float15.85%
52-Week Range $15.53 - 30.45
Shares Outstanding (Mil)40.60

Analyst Estimate

Dec17 Dec18 Dec19
Revenue (Mil $) 447 580 555
EPS ($) 0.81 1.42 1.30
EPS without NRI ($) 0.81 1.42 1.30
EPS Growth Rate
(Future 3Y To 5Y Estimate)
N/A
Dividends per Share ($)
» More Articles for VECO

Headlines

Articles On GuruFocus.com
FPA Capital Comments on Veeco Instruments Jan 30 2017 
FPA Capital Fund 4th Quarter 2016 Commentary Jan 30 2017 
FPA Capital Fund Adds to 5 Holdings in 3rd Quarter Oct 10 2016 
FPA Capital's Top Performing Second Quarter Sales Aug 11 2016 
Companies' Prices Near 5-Year Lows Jul 08 2016 
FPA Capital's Largest 1st-Quarter Buys May 04 2016 
Stocks FPA Capital Keeps On Buying Apr 19 2016 
Most-Bought Small Cap Stocks During 4th Quarter Mar 28 2016 
Arnold Schneider Buys 9 New Stakes in 4th Quarter Feb 22 2016 
FPA Capital Fund Buys Apollo Education Feb 02 2016 

More From Other Websites
VEECO INSTRUMENTS INC Files SEC form 10-K, Annual Report Feb 22 2017
Veeco Instruments, Inc. :VECO-US: Earnings Analysis: Q4, 2016 By the Numbers : February 22, 2017 Feb 22 2017
Veeco Instruments, Inc. breached its 50 day moving average in a Bullish Manner : VECO-US : February... Feb 22 2017
VEECO INSTRUMENTS INC Files SEC form 8-K, Other Events, Financial Statements and Exhibits Feb 21 2017
Veeco and Ultratech Announce Early Termination of Hart-Scott-Rodino Waiting Period Feb 21 2017
VEECO INSTRUMENTS INC Files SEC form 8-K, Other Events, Financial Statements and Exhibits Feb 17 2017
Edited Transcript of VECO earnings conference call or presentation 16-Feb-17 10:00pm GMT Feb 17 2017
Veeco reports 4Q loss Feb 16 2017
Veeco reports 4Q loss Feb 16 2017
VEECO INSTRUMENTS INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial... Feb 16 2017
Veeco Reports Fourth Quarter and Fiscal Year 2016 Financial Results Feb 16 2017
Q4 2016 Veeco Instruments Inc Earnings Release - After Market Close Feb 16 2017
Veeco Instruments-Ultratech Would Be a 'Dream' Merger Feb 15 2017
[2/8] This Week’s Earnings Revisions Movers - Tech and Consumer Discretionary Lead Feb 08 2017
FPA Capital Fund’s Best and Worst Performers From Q4 Feb 08 2017
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces an Investigation Concerning Whether the Sale of... Feb 06 2017
ULTRATECH INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC... Feb 06 2017
VEECO INSTRUMENTS INC Files SEC form 8-K, Entry into a Material Definitive Agreement, Regulation FD... Feb 03 2017
Veeco Announces Date for Fourth Quarter and Year-End 2016 Financial Results and Conference Call Feb 03 2017
VEECO INSTRUMENTS INC Files SEC form 8-K, Other Events, Financial Statements and Exhibits Feb 02 2017

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