Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
5-Year Return on Invested Incremental Capital (5-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 5-year.
Veeco Instruments's 5-Year ROIIC % for the quarter that ended in Dec. 2025 was 4.88%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Veeco Instruments's 5-Year ROIIC % or its related term are showing as below:
FRA:VEO's 5-Year ROIIC % is ranked better than 54.8% of 916
companies
in the Semiconductors industry
Industry Median: 2.7
vs FRA:VEO: 4.88
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Veeco Instruments 5-Year ROIIC % Related Terms
Veeco Instruments 5-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Veeco Instruments's 5-Year ROIIC % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:VEO vs IPGP, AXTI, ACLS: 5-Year ROIIC % Comparison
For the Semiconductor Equipment & Materials subindustry, Veeco Instruments's 5-Year ROIIC %, along with its competitors' market caps and 5-Year ROIIC % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Veeco Instruments 5-Year ROIIC % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Veeco Instruments's 5-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Veeco Instruments's 5-Year ROIIC % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
** Annual data of NOPAT and Invested Capital was used to calculate 5-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Veeco Instruments (FRA:VEO) has a 5-Year ROIIC % of 4.88 as of Dec. 2025. 5-Year ROIIC % measures the change in earnings as a percentage of change in investment over 5-year. View historical data on Veeco Instruments and its competitors. According to the industry distribution chart, Veeco Instruments ranks #414 out of 916 companies in the Semiconductors industry, placing it in the top 45.2%.
Is Veeco Instruments' 5-Year ROIIC % too high?
Veeco Instruments' current 5-Year ROIIC % is 4.88. The Semiconductors industry median 5-Year ROIIC % is 2.70. Veeco Instruments' value of 4.88 is 80.7% above this industry median. Based on the distribution chart, Veeco Instruments ranks #414 out of 916 companies in the Semiconductors industry, which is above the industry midpoint. Overall, Veeco Instruments has a GF Score™ of 51/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Veeco Instruments' 5-Year ROIIC % compare to IPGP and AXTI?
According to the Semiconductors industry distribution chart, Veeco Instruments ranks #414 out of 916 companies for 5-Year ROIIC %. This puts Veeco Instruments in the upper half of its industry. The industry median 5-Year ROIIC % is 2.70. Veeco Instruments' value of 4.88 is 80.7% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 5-Year ROIIC % for a Semiconductors company?
The median 5-Year ROIIC % among Semiconductors companies is 2.70, based on 916 companies in the industry. Companies in the top quartile (top 25%) have a 5-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 5-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Veeco Instruments's current 5-Year ROIIC % of 4.88 is 80.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high 5-Year ROIIC % mean?
A high 5-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 5-Year ROIIC % measures the change in earnings as a percentage of change in investment over 5-year. View historical data on Veeco Instruments and its competitors. For the Semiconductors industry, the median 5-Year ROIIC % is 2.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Veeco Instruments's current 5-Year ROIIC % is 4.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Veeco Instruments stock overvalued right now?
Based on GuruFocus' analysis, Veeco Instruments (FRA:VEO) is currently considered Significantly Overvalued. The stock's GF Value™ is €26.44, compared to a current price of €50.66 — trading 91.6% above its estimated fair value. The current 5-Year ROIIC % is 4.88 and 80.7% above the Semiconductors industry median of 2.70. Veeco Instruments' overall GF Score™ is 51/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 5-Year ROIIC % calculated?
5-Year ROIIC % is calculated from a company's financial statements. For Veeco Instruments (FRA:VEO), the current 5-Year ROIIC % is 4.88 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Veeco Instruments (FRA:VEO) Overvalued in 2026?
Based on GuruFocus' analysis, Veeco Instruments stock appears to be overvalued.
The current stock price of €50.66 is trading 91.6% above its estimated GF Value™ of €26.44.
GuruFocus considers Veeco Instruments to be Significantly Overvalued.
Key valuation signals for FRA:VEO:
5-Year ROIIC %: 4.88
GF Value™: €26.44 vs. price of €50.66 (91.6% above fair value)
Industry Position: 80.7% above the Semiconductors median (#414 of 916)
No single metric tells the full story. See the FRA:VEO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Veeco Instruments Inc is a United States-based company engaged in designing, developing, and manufacturing thin-film process equipment, mainly used for producing electronic devices. The company focuses on semiconductor process equipment that addresses a range of challenging materials engineering problems for its customers. Its products include Laser Processing Systems, Lithography Systems, Ion Beam Systems, SiC CVD Systems, MOCVD Systems, Wet Processing Systems, MBE Technologies, Atomic Layer Deposition Systems, Physical Vapor Deposition Systems, Dicing and Lapping Systems, as well as Gas & Vapor Delivery Systems. The maximum of the company's revenue is generated from sales to the Semiconductor Industry and within China.
51GF Score
Get the complete analysis for FRA:VEO
5-Year ROIIC % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:VEO has been successfully added to your 
