Pulling SEC filings + quote and writing the call…

VEECO INSTRUMENTS INC
Next earnings Aug 4, 2026 · consensus $0.29 EPS, $182M rev
Last earnings -2.7% on 2026-05-05
Veeco has a sound balance sheet but is in a cyclical down year, and 135x earnings on trough profits prices in a recovery that hasn't arrived.
Sources: SEC EDGAR (CIK 0000103145, latest 10-Q filed 2026-05-05) · EODHD · analysis by claude-code · as of 6/21/2026, 9:02:22 PM.
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Middling fundamentals and a rich price (~94% above fair value) leave little margin of safety — a wait-and-see.
Veeco Instruments makes specialized semiconductor and thin-film process equipment, a cyclical capital-equipment business tied to chipmakers' spending. FY2025 was a down year: revenue fell 7.4% to $664M, gross profit dropped 12.7% (gross margin 40.0%), operating income fell 46.7% to $35.7M, and net income halved to $35.4M (EPS $0.59). The multi-year record is volatile — net income of $26.0M, $167M, -$30.4M, $73.7M and $35.4M from FY2021-2025 — underscoring how sharply results swing with the semi-equipment cycle.
The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $583M | $646M | $666M | $717M | $664M |
| Gross profit | $242M | $263M | $285M | $304M | $265M |
| Operating income | $56.7M | $60.3M | $69.9M | $67.0M | $35.7M |
| Net income | $26.0M | $167M | -$30.4M | $73.7M | $35.4M |
| Diluted EPS | $0.49 | $2.71 | -$0.56 | $1.23 | $0.59 |
| Net margin | 4.5% | 25.8% | -4.6% | 10.3% | 5.3% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
1072 tracked peers · median
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.
Last 90 days: 0 open-market buys · 8 sales
| 2026-06-11 | Wilkerson Susan SVP, GLOBAL SALES & SERVICE | Sell | 15.5K @ $69.56 | $1.08M |
| 2026-06-09 | Devasahayam Adrian SVP - PRODUCT LINE DEVELOPMENT | Sell | 10.0K @ $65.00 | $650K |
| 2026-06-09 | HUNTER GORDON Director | Sell | 17.0K @ $68.80 | $1.17M |
| 2026-06-04 | HUNTER GORDON Director | Sell | 6.75K @ $63.78 | $431K |
| 2026-06-02 | Miller William John CEO | Sell | 50.0K @ $58.62 | $2.93M |
| 2026-05-26 | HUNTER GORDON Director | Sell | 17.7K @ $61.61 | $1.09M |
| 2026-05-26 | Wilkerson Susan SVP, GLOBAL SALES & SERVICE | Sell | 35.7K @ $61.69 | $2.20M |
| 2026-05-26 | Devasahayam Adrian SVP - PRODUCT LINE DEVELOPMENT | Sell | 5.41K @ $61.84 | $334K |
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.