VECO Veeco Instruments Inc. - Common Stock
NASDAQ · Semiconductors · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 5, 2026
$57.38
· of 52w range
· above low
· to high
$26.0052w low
$86.6352w high
Market Cap (MRQ)
$3.51B
P/E (TTM)
159.4
EPS (TTM)
$0.36
Revenue (TTM)
$683M
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52W Range
$26–$87
Analyst Rating
HOLD
Price Target
$61
P/E
159.4
ROE
2.6%
Net Profit Margin
3.4%
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VECO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$57.38
Market Cap (MRQ)
$3.51B
P/E (TTM)
159.4
EPS (TTM)
$0.36
Revenue (TTM)
$683M
ROE (TTM)
2.6%
Debt/Equity (MRQ)
0.3
52W Range
$26–$87
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$664M2016-12-31 → 2025-12-31
EPS$0.592016-12-31 → 2025-12-31
Free Cash Flow$53M2016-12-31 → 2025-12-31
Net margin3.4%2018-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | VECO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 159.45Y avg ≈16.0 | ≈16.0 | 65.8 | Overvalued | |
| P/S (TTM) | 5.15Y avg ≈2.3 | ≈2.3 | 6.8 | Overvalued | |
| P/B (MRQ) | 3.95Y avg ≈2.3 | ≈2.3 | 5.5 | Undervalued | |
| EV / EBITDA | 63.35Y avg ≈20.2 | ≈20.2 | 57.6 | Undervalued | |
| Price / FCF (TTM) | 41.25Y avg ≈36.4 | ≈36.4 | · | · | |
| Price / Cash Flow (TTM) | 35.15Y avg ≈21.4 | ≈21.4 | 30.8 | Undervalued | |
| EV / Revenue | 5.35Y avg ≈2.4 | ≈2.4 | · | · | |
| EV / FCF | 66.25Y avg ≈39.0 | ≈39.0 | · | · | |
| Price / Tangible Book (MRQ) | 3.95Y avg ≈3.7 | ≈3.7 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | VECO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin (TTM) | 37.9%5Y avg ≈41.5% | ≈41.5% | 46.0% | Weak | |
| Operating Margin (TTM) | 2.7%5Y avg ≈8.9% | ≈8.9% | 8.8% | Weak | |
| EBITDA Margin (TTM) | 5.6%5Y avg ≈12.6% | ≈12.6% | 9.8% | Weak | |
| Pretax Margin (TTM) | 3.4%5Y avg ≈4.7% | ≈4.7% | 9.7% | Weak | |
| Net Profit Margin (TTM) | 3.4%5Y avg ≈8.3% | ≈8.3% | 8.9% | Weak | |
| ROA (TTM) | 1.7%5Y avg ≈5.1% | ≈5.1% | 3.4% | Below avg | |
| ROE (TTM) | 2.6%5Y avg ≈9.6% | ≈9.6% | 4.7% | In line | |
| ROIC | 2.9%5Y avg ≈9.9% | ≈9.9% | 3.7% | Below avg |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | VECO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.35Y avg ≈0.4 | ≈0.4 | 0.3 | In line | |
| Current Ratio (MRQ) | 3.95Y avg ≈3.5 | ≈3.5 | 3.7 | In line | |
| Quick Ratio | 1.55Y avg ≈1.3 | ≈1.3 | 2.1 | Low liquidity | |
| Long-Term Debt / Equity (MRQ) | 0.35Y avg ≈0.4 | ≈0.4 | 0.3 | In line |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | VECO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | -7.4%5Y avg ≈8.5% | ≈8.5% | · | · | |
| Revenue CAGR 3Y | 0.93%5Y avg ≈7.2% | ≈7.2% | · | · | |
| Revenue CAGR 5Y | 7.9% | · | · | · | |
| EPS YoY | -52.0% | · | · | · | |
| Net Income YoY | -52.0% | · | · | · | |
| EPS CAGR 3Y | -39.8% | · | · | · | |
| Net Income CAGR 3Y | -40.4% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | VECO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.55Y avg ≈0.6 | ≈0.6 | 0.6 | Weak | |
| Inventory Turnover | 1.55Y avg ≈1.8 | ≈1.8 | 3.1 | Weak | |
| Receivables Turnover | 6.45Y avg ≈6.2 | ≈6.2 | 6.4 | In line | |
| Revenue / Employee | ≈$525.1K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
13.0%
Next Report
Nov 03, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 4, 2026 | $0.33 | $0.26 | 25.4% |
| March 31, 2026 | $0.14 | $0.23 | -40.4% | |
| Dec. 31, 2025 | $0.24 | $0.25 | -2.6% | |
| Sept. 30, 2025 | $0.36 | $0.29 | 26.1% | |
| June 30, 2025 | $0.36 | $0.23 | 56.7% | |
| March 31, 2025 | $0.37 | $0.33 | 13.0% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $664M | $717M | $666M | $646M | $583M | $454M | $419M | $542M | $476M | $332M | $477M | $393M | |
| Cost of Revenue | $399M | $413M | $381M | $383M | $341M | $260M | $261M | $348M | $299M | $199M | $300M | $258M | |
| Gross Profit | $265M | $304M | $285M | $263M | $242M | $194M | $158M | $194M | $176M | $133M | $177M | $135M | |
| R&D Expense | $120M | $125M | $113M | $104M | $89M | $79M | $91M | $98M | $82M | $81M | $79M | $81M | |
| SG&A Expense | $99M | $100M | $93M | $89M | $85M | $76M | $80M | $92M | $100M | $78M | $90M | $90M | |
| Operating Expenses | $230M | $237M | $215M | $203M | $186M | $172M | $198M | $609M | $248M | $253M | $200M | $214M | |
| Operating Income | $36M | $67M | $70M | $60M | $57M | $23M | $-40M | $-416M | $-72M | $-120M | $-23M | $-79M | |
| Interest Expense | · | · | $12M | $12M | $28M | $25M | $22M | $22M | $19M | $222.0K | $464.0K | $715.0K | |
| Interest Income | $13M | $13M | $11M | $2M | $2M | $2M | $5M | $3M | $2M | $1M | $1M | $2M | |
| Other Non-op | $-653.0K | · | $-97M | · | $-5M | $-8M | $-21M | · | · | · | · | · | |
| Pretax Income | $39M | $69M | $-28M | $51M | $26M | $-8M | $-78M | $-434M | $-89M | $-119M | $-23M | $-78M | |
| Income Tax | $4M | $-5M | $2M | $-116M | $-358.0K | $-73.0K | $777.0K | $-27M | $-38M | $3M | $9M | $-11M | |
| Net Income | $35M | $74M | $-30M | $167M | $26M | $-8M | $-79M | $-407M | $-51M | $-122M | · | · | |
| EPS (Basic) | $0.60 | $1.31 | $-0.56 | $3.35 | $0.53 | $-0.17 | $-1.66 | $-8.63 | $-1.16 | $-3.10 | $-0.80 | $-1.70 | |
| EPS (Diluted) | $0.59 | $1.23 | $-0.56 | $2.71 | $0.49 | $-0.17 | $-1.66 | $-8.63 | $-1.16 | $-3.10 | $-0.80 | $-1.70 | |
| Shares (Basic) | 59,299,000 | 56,426,000 | 53,769,000 | 49,906,000 | 49,073,000 | 48,362,000 | 47,482,000 | 47,151,000 | 44,174,000 | 39,340,000 | 39,742,000 | 39,350,000 | |
| Shares (Diluted) | 60,594,000 | 61,596,000 | 53,769,000 | 65,607,000 | 53,643,000 | 48,362,000 | 47,482,000 | 47,151,000 | 44,174,000 | 39,340,000 | 39,742,000 | 39,350,000 | |
| EBITDA | $56M | $92M | $95M | $86M | $83M | $53M | $-5M | $-366M | $-14M | $-88M | $17M | $-55M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $163M | $146M | $159M | $155M | $120M | $130M | $129M | $212M | $280M | $277M | $269M | $271M | |
| Receivables | $111M | $97M | $103M | $124M | $110M | $80M | $46M | $67M | $99M | $58M | $50M | $60M | |
| Inventory | $275M | $247M | $238M | $207M | $171M | $146M | $133M | $156M | $120M | $77M | $77M | $61M | |
| Prepaid Expense | $34M | $39M | $35M | $18M | $26M | $19M | $15M | $22M | $33M | $16M | $23M | $23M | |
| Current Assets | $845M | $765M | $706M | $669M | $549M | $587M | $476M | $520M | $597M | $502M | $542M | $556M | |
| PP&E (Net) | $109M | $114M | $118M | $107M | $100M | $65M | $76M | $80M | $85M | $61M | $80M | $79M | |
| PP&E (Gross) | $321M | $311M | $301M | $280M | $261M | $215M | $211M | $204M | $197M | $160M | $180M | $171M | |
| Accum. Depreciation | $212M | $197M | $182M | $172M | $161M | $150M | $136M | $124M | $112M | $99M | $100M | $92M | |
| Goodwill | $215M | $215M | $215M | $182M | $182M | $182M | $182M | $184M | $307M | $115M | $115M | $115M | |
| Intangibles | $6M | $9M | $44M | $24M | $34M | $46M | $62M | $85M | $370M | $58M | $132M | $159M | |
| Other Non-current Assets | $4M | $3M | $3M | $3M | $4M | $6M | $7M | $29M | $25M | $21M | $21M | $20M | |
| Total Assets | $1.33B | $1.25B | $1.23B | $1.13B | $899M | $898M | $818M | $901M | $1.39B | $759M | $891M | $929M | |
| Accounts Payable | $55M | $44M | $42M | $52M | $44M | $34M | $21M | $40M | $50M | $23M | $30M | $18M | |
| Accrued Liabilities | · | · | · | · | · | · | · | · | $58M | $33M | $49M | $48M | |
| Current Liabilities | $178M | $192M | $218M | $258M | $189M | $147M | $118M | $160M | $224M | $144M | $162M | $168M | |
| Capital Leases | $32M | $34M | $32M | $34M | $33M | $6M | $10M | · | · | · | · | · | |
| Deferred Tax | $532.0K | $689.0K | $7M | $1M | $5M | $5M | $6M | $6M | $37M | $13M | $11M | · | |
| Other Non-current Liabilities | $4M | $4M | $26M | $3M | $5M | $10M | $9M | $10M | $11M | $6M | $2M | $4M | |
| Total Liabilities | $440M | $481M | $557M | $550M | $461M | $490M | $444M | $463M | $547M | $164M | $176M | $191M | |
| Long-term Debt | $226M | $276M | $275M | $275M | $229M | $321M | $300M | · | · | $1M | $2M | $2M | |
| Total Debt | $226M | $276M | $275M | $275M | $229M | $321M | $300M | $287M | $276M | $1M | $2M | $2M | |
| Common Stock | $604.0K | $569.0K | $564.0K | $517.0K | $507.0K | $497.0K | $490.0K | $485.0K | $482.0K | $407.0K | $410.0K | $404.0K | |
| Retained Earnings | $-423M | $-458M | $-532M | $-502M | $-681M | $-707M | $-699M | $-620M | $-213M | $-169M | $-45M | $-13M | |
| Treasury Stock | · | · | · | · | · | · | · | $6M | $1M | $2M | $9M | · | |
| AOCI | $2M | $2M | $2M | $928.0K | $1M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | |
| Stockholders' Equity | $886M | $771M | $672M | $578M | $438M | $408M | $375M | $438M | $840M | $602M | $715M | $739M | |
| Liabilities + Equity | $1.33B | $1.25B | $1.23B | $1.13B | $899M | $898M | $818M | $901M | $1.39B | $759M | $891M | $929M | |
| Shares Outstanding | 60,388,539 | 56,827,915 | 56,364,131 | 51,660,409 | 50,652,864 | 49,723,751 | 48,994,346 | 48,024,685 | 48,144,416 | 40,588,194 | 40,526,902 | 40,360,069 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $20M | $25M | $25M | $26M | $26M | $31M | $34M | $50M | $50M | $33M | $40M | $25M | |
| Stock-based Comp | $37M | $36M | $29M | $23M | $15M | $13M | $15M | $16M | $24M | $16M | $18M | $19M | |
| Deferred Tax | $-3M | $-9M | $-2M | $-118M | $-651.0K | $-299.0K | $360.0K | $-28M | $-35M | $997.0K | $3M | $-11M | |
| Amort. of Intangibles | $3M | $7M | $8M | $10M | $12M | $15M | $17M | $32M | $35M | $19M | $28M | $13M | |
| Restructuring | · | · | · | · | · | $1M | $6M | $9M | $12M | $6M | $5M | $4M | |
| Other Non-cash | $-20M | $-62M | $41M | $11M | $1M | $8M | $21M | $331M | · | · | · | · | |
| Operating Cash Flow | $69M | $64M | $62M | $108M | $68M | $43M | $-7M | $-38M | $35M | $-24M | $16M | $42M | |
| CapEx | $16M | $18M | $28M | $25M | $41M | $7M | $11M | $13M | $24M | $11M | $14M | $16M | |
| Investing Cash Flow | $-41M | $-65M | $-53M | $-69M | $45M | $-72M | $-76M | $-18M | $-358M | $47M | $-7M | $8M | |
| Debt Issued | · | · | · | · | · | · | · | · | $336M | · | · | · | |
| Net Debt Issued | · | · | · | · | · | · | · | · | $-1M | $-340.0K | $-314.0K | $-290.0K | |
| Stock Repurchased | · | · | · | · | · | · | · | $11M | $3M | $13M | $9M | · | |
| Net Stock Activity | · | · | · | · | · | · | · | $-11M | $-3M | $-13M | $-9M | · | |
| Financing Cash Flow | $-10M | $-13M | $-5M | $-5M | $-122M | $29M | $126.0K | $-11M | $326M | $-15M | $-10M | $10M | |
| Net Change in Cash | $18M | $-13M | $4M | $35M | $-10M | $332.0K | $-83M | $-68M | $3M | $8M | $-2M | $60M | |
| Taxes Paid | $87.0K | $3M | $5M | $1M | $-139.0K | $329.0K | $3M | $5M | $2M | $2M | $7M | · | |
| Free Cash Flow | $53M | $46M | $34M | $84M | $27M | $36M | $-18M | $-50M | $10M | $-35M | $2M | $26M | |
| Levered FCF | · | · | $21M | $46M | $-2M | $12M | $-41M | $-71M | $-899.0K | $-36M | $1M | $26M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 40.0% | 42.4% | 42.8% | 40.7% | 41.5% | 42.8% | 37.7% | 35.7% | 38.0% | 40.0% | 37.1% | 34.3% | |
| Operating Margin | 5.4% | 9.3% | 10.5% | 9.3% | 9.7% | 5.0% | -9.4% | -76.6% | -13.2% | -36.2% | -4.9% | -20.2% | |
| Net Margin | 5.3% | 10.3% | -4.6% | 25.8% | 4.5% | -1.8% | -18.8% | -75.1% | · | · | · | · | |
| Pretax Margin | 5.9% | 9.6% | -4.2% | 7.9% | 4.4% | -1.9% | -18.6% | -80.0% | -16.7% | -35.9% | -4.8% | -19.9% | |
| EBITDA Margin | 8.4% | 12.8% | 14.2% | 13.3% | 14.2% | 11.7% | -1.2% | -67.4% | -2.8% | -26.4% | 3.5% | -13.9% | |
| ROA | 2.8% | 5.9% | -2.6% | 16.5% | 2.9% | -0.98% | -9.2% | -35.6% | · | · | · | · | |
| ROE | 4.1% | 9.7% | -4.6% | 32.8% | 6.0% | -2.1% | -20.3% | -80.2% | · | · | · | · | |
| ROIC | 2.9% | 6.9% | 7.9% | 23.2% | 8.6% | 3.1% | -5.9% | -53.8% | -3.2% | -20.7% | -4.6% | -9.1% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.7 | 4.0 | 3.2 | 2.6 | 2.9 | 4.0 | 4.0 | 3.2 | 2.7 | 3.5 | 3.3 | 3.3 | |
| Quick Ratio | 1.5 | 1.3 | 1.2 | 1.1 | 1.2 | 1.4 | 1.5 | 1.7 | 1.7 | 2.3 | 2.0 | 2.0 | |
| Debt / Equity | 0.3 | 0.4 | 0.4 | 0.5 | 0.5 | 0.8 | 0.8 | 0.7 | 0.3 | 0.0 | 0.0 | 0.0 | |
| LT Debt / Equity | 0.3 | 0.3 | 0.4 | 0.4 | 0.5 | 0.8 | 0.8 | 0.7 | 0.3 | 0.0 | 0.0 | 0.0 | |
| Interest Coverage | · | · | 5.9 | 5.2 | 2.0 | 0.9 | -1.8 | -19.3 | -3.3 | -542.4 | -50.1 | -110.8 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.6 | 0.6 | 0.6 | 0.6 | 0.5 | 0.5 | 0.5 | 0.5 | 0.4 | 0.5 | 0.4 | |
| Inventory Turnover | 1.5 | 1.7 | 1.7 | 2.0 | 2.2 | 1.9 | 1.8 | 2.5 | 3.0 | 2.6 | 4.3 | 4.3 | |
| Receivables Turnover | 6.4 | 7.2 | 5.9 | 5.5 | 6.2 | 7.2 | 7.5 | 6.5 | 6.2 | 6.2 | 8.7 | 9.4 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $14.66 | $13.56 | $11.93 | $11.19 | $8.64 | $8.21 | $7.64 | $9.12 | $17.46 | $14.65 | $17.63 | $18.31 | |
| Revenue / Share | $10.96 | $11.65 | $12.39 | $9.85 | $10.87 | $9.39 | $8.83 | $11.50 | $10.97 | $8.45 | $12.00 | $9.98 | |
| Cash Flow / Share | $1.15 | $1.04 | $1.15 | $1.65 | $1.26 | $0.89 | $-0.16 | $-0.80 | $0.77 | $-0.61 | $0.40 | $1.07 | |
| Cash / Share | $2.71 | $2.56 | $2.82 | $3.00 | $2.36 | $2.61 | $2.64 | $4.42 | $5.81 | $6.84 | $6.64 | $6.71 | |
| EPS (TTM) | $0.59 | $1.23 | $-0.56 | $2.71 | $0.49 | $-0.17 | $-1.66 | $-8.63 | $-1.16 | $-3.10 | $-0.80 | $-1.70 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -7.4% | 7.6% | 3.1% | 10.8% | 28.4% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 0.93% | 7.1% | 13.6% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 7.9% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -52.0% | · | · | 453.1% | · | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -39.8% | 35.9% | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -52.0% | · | · | 541.1% | · | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -40.4% | 41.5% | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $664M | $717M | $666M | $646M | $583M | $454M | $419M | $542M | $476M | $332M | $477M | $393M | |
| Net Income TTM | $35M | $74M | $-30M | $167M | $26M | $-8M | $-79M | $-407M | $-51M | $-122M | $83M | $83M | |
| Market Cap | $1.73B | $1.52B | $1.75B | $960M | $1.44B | $863M | $720M | $356M | $715M | $1.18B | $833M | $1.41B | |
| Enterprise Value | $1.79B | $1.65B | $1.87B | $1.08B | $1.55B | $1.05B | $891M | $431M | $711M | $907M | $566M | $1.14B | |
| P/E | 48.4 | 21.8 | -55.4 | 6.9 | 58.1 | -102.1 | -8.8 | -0.9 | -12.8 | -9.4 | -25.7 | -20.5 | |
| P/S | 2.6 | 2.1 | 2.6 | 1.5 | 2.5 | 1.9 | 1.7 | 0.7 | 1.5 | 3.6 | 1.7 | 3.6 | |
| P/B | 1.9 | 2.0 | 2.6 | 1.7 | 3.3 | 2.1 | 1.9 | 0.8 | 0.9 | 2.0 | 1.2 | 1.9 | |
| P / Tangible Book | 2.6 | 2.8 | 4.2 | 2.6 | 6.5 | 4.8 | · | · | · | · | · | · | |
| P / Cash Flow | 24.8 | 23.9 | 28.4 | 8.8 | 21.3 | 20.1 | -97.1 | -9.4 | 20.9 | -49.6 | 52.8 | 33.5 | |
| P / FCF | 32.4 | 33.3 | 51.8 | 11.4 | 53.2 | 23.8 | -39.4 | -7.1 | 72.4 | -33.5 | 438.1 | 53.2 | |
| EV / EBITDA | 32.1 | 17.9 | 19.7 | 12.6 | 18.7 | 19.8 | -171.9 | -1.2 | -52.0 | -10.3 | 34.0 | -20.8 | |
| EV / FCF | 33.6 | 36.2 | 55.3 | 12.9 | 57.3 | 29.1 | -48.7 | -8.6 | 72.0 | -25.7 | 297.3 | 43.0 | |
| EV / Revenue | 2.7 | 2.3 | 2.8 | 1.7 | 2.7 | 2.3 | 2.1 | 0.8 | 1.5 | 2.7 | 1.2 | 2.9 | |
| Earnings Yield | 2.1% | 4.6% | -1.8% | 14.6% | 1.7% | -0.98% | -11.3% | -116.5% | -7.8% | -10.6% | -3.9% | -4.9% |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $193M | $158M | $165M | $166M | $166M | $167M | $182M | $185M | $176M | $174M | $174M | $177M | $162M | $154M | $154M | $172M | |
| Cost of Revenue | $119M | $103M | $105M | $98M | $97M | $99M | $108M | $106M | $100M | $99M | $95M | $100M | $94M | $91M | $91M | $102M | |
| Gross Profit | $75M | $56M | $61M | $68M | $69M | $68M | $74M | $79M | $75M | $75M | $79M | $77M | $68M | $62M | $63M | $70M | |
| R&D Expense | $33M | $30M | $31M | $29M | $32M | $29M | $31M | $32M | $32M | $30M | $29M | $29M | $27M | $28M | $26M | $27M | |
| SG&A Expense | $28M | $26M | $23M | $27M | $24M | $25M | $25M | $25M | $25M | $25M | $23M | $23M | $24M | $23M | $21M | $22M | |
| Operating Expenses | $63M | $58M | $62M | $57M | $56M | $54M | $70M | $55M | $59M | $53M | $54M | $55M | $54M | $52M | $50M | $52M | |
| Operating Income | $12M | $-3M | $-1M | $11M | $12M | $14M | $4M | $24M | $17M | $22M | $24M | $22M | $14M | $10M | $13M | $18M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $3M | · | $3M | $3M | $3M | · | $3M | |
| Interest Income | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $2M | $2M | $1M | $571.0K | |
| Other Non-op | · | · | $0 | $0 | $-653.0K | · | · | · | · | · | $0 | $0 | $-97M | · | · | · | |
| Pretax Income | $13M | $-1M | $-94.0K | $12M | $13M | $15M | $4M | $25M | $17M | $23M | $24M | $23M | $-84M | $9M | $12M | $15M | |
| Income Tax | $1M | $-1M | $-1M | $1M | $889.0K | $3M | $-11M | $3M | $2M | $896.0K | $3M | $-2M | $1M | $263.0K | $-117M | $208.0K | |
| Net Income | $12M | $-324.0K | $1M | $11M | $12M | $12M | $15M | $22M | $15M | $22M | $22M | $25M | $-85M | $9M | $129M | $15M | |
| EPS (Basic) | $0.19 | $-0.01 | $0.01 | $0.18 | $0.20 | $0.21 | $0.26 | $0.39 | $0.27 | $0.39 | $0.44 | $0.44 | $-1.61 | $0.17 | $2.59 | $0.30 | |
| EPS (Diluted) | $0.18 | $-0.01 | $0.02 | $0.17 | $0.20 | $0.20 | $0.25 | $0.36 | $0.25 | $0.37 | $0.46 | $0.42 | $-1.61 | $0.17 | $2.02 | $0.27 | |
| Shares (Basic) | 61,064,000 | 60,414,000 | · | 60,077,000 | 59,076,000 | 57,753,000 | · | 56,410,000 | 56,277,000 | 55,968,000 | · | 55,352,000 | 52,861,000 | 50,559,000 | · | 49,887,000 | |
| Shares (Diluted) | 66,782,000 | 60,414,000 | · | 60,950,000 | 60,237,000 | 60,234,000 | · | 62,654,000 | 62,535,000 | 60,764,000 | · | 59,636,000 | 52,861,000 | 59,856,000 | · | 65,151,000 | |
| EBITDA | $12M | $2M | · | $11M | $12M | $19M | · | $24M | $17M | $28M | · | $22M | $14M | $16M | · | $18M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $214M | $180M | $163M | $193M | $189M | $175M | $146M | $163M | $174M | $174M | · | $156M | $181M | $141M | · | $169M | |
| Receivables | $148M | $151M | $111M | $116M | $107M | $114M | $97M | $132M | $92M | $107M | · | $122M | $130M | $120M | · | $143M | |
| Inventory | $292M | $282M | $275M | $263M | $259M | $254M | $247M | $242M | $245M | $243M | · | $252M | $244M | $226M | · | $188M | |
| Prepaid Expense | $37M | $36M | $34M | $30M | $35M | $39M | $39M | $35M | $36M | $35M | · | $30M | $27M | $26M | · | $18M | |
| Current Assets | $930M | $873M | $845M | $810M | $792M | $795M | $765M | $761M | $718M | $716M | · | $721M | $709M | $643M | · | $650M | |
| PP&E (Net) | $110M | $108M | $109M | $109M | $111M | $114M | $114M | $113M | $113M | $115M | $118M | $118M | $112M | $113M | $107M | $108M | |
| PP&E (Gross) | $331M | $324M | $321M | $318M | $316M | $315M | $311M | $307M | $304M | $302M | · | $299M | $291M | $288M | · | $280M | |
| Accum. Depreciation | $221M | $217M | $212M | $208M | $205M | $202M | $197M | $195M | $190M | $187M | · | $180M | $179M | $175M | · | $172M | |
| Goodwill | $215M | $215M | $215M | $215M | $215M | $215M | $215M | $215M | $215M | $215M | · | $215M | $215M | $215M | · | $182M | |
| Intangibles | $4M | $5M | $6M | $6M | $7M | $8M | $9M | $39M | $40M | $42M | · | $46M | $48M | $50M | · | $26M | |
| Other Non-current Assets | $7M | $4M | $4M | $4M | $4M | $3M | $3M | $3M | $3M | $3M | · | $3M | $3M | $3M | · | $3M | |
| Total Assets | $1.41B | $1.35B | $1.33B | $1.29B | $1.27B | $1.28B | $1.25B | $1.27B | $1.24B | $1.23B | · | $1.25B | $1.23B | $1.17B | · | $997M | |
| Accounts Payable | $57M | $60M | $55M | $44M | $50M | $58M | $44M | $50M | $47M | $54M | · | $63M | $63M | $62M | · | $51M | |
| Current Liabilities | $237M | $207M | $178M | $151M | $155M | $179M | $192M | $215M | $204M | $234M | · | $268M | $282M | $267M | · | $260M | |
| Capital Leases | $30M | $31M | $32M | $33M | $33M | $34M | $34M | $34M | $35M | $31M | · | $32M | $33M | $34M | · | $31M | |
| Deferred Tax | $492.0K | $513.0K | $532.0K | $633.0K | $646.0K | $663.0K | $689.0K | $6M | $6M | $6M | · | $7M | $7M | $7M | · | $5M | |
| Other Non-current Liabilities | $17M | $5M | $4M | $4M | $4M | $4M | $4M | $21M | $26M | $25M | · | $20M | $19M | $19M | · | $5M | |
| Total Liabilities | $512M | $469M | $440M | $414M | $419M | $467M | $481M | $526M | $520M | $546M | · | $602M | $616M | $582M | · | $556M | |
| Long-term Debt | $227M | $226M | $226M | $226M | $225M | $250M | $276M | $276M | $276M | $275M | · | $275M | $274M | $255M | · | $274M | |
| Total Debt | $227M | $226M | · | $226M | $225M | $250M | · | $276M | $276M | $275M | · | $275M | $274M | $255M | · | $274M | |
| Common Stock | $611.0K | $610.0K | $604.0K | $602.0K | $602.0K | $583.0K | $569.0K | $570.0K | $569.0K | $566.0K | · | $564.0K | $564.0K | $517.0K | · | $515.0K | |
| Retained Earnings | $-412M | $-423M | $-423M | $-424M | $-435M | $-447M | $-458M | $-473M | $-495M | $-510M | · | $-554M | $-578M | $-493M | · | $-631M | |
| AOCI | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | · | $1M | $1M | $1M | · | $219.0K | |
| Stockholders' Equity | $903M | $884M | $886M | $876M | $856M | $812M | $771M | $747M | $715M | $688M | $672M | $644M | $613M | $586M | $578M | $441M | |
| Liabilities + Equity | $1.41B | $1.35B | $1.33B | $1.29B | $1.27B | $1.28B | $1.25B | $1.27B | $1.24B | $1.23B | · | $1.25B | $1.23B | $1.17B | · | $997M | |
| Shares Outstanding | 61,129,116 | 61,032,453 | 60,388,539 | 60,159,113 | 60,160,634 | 58,291,513 | 56,827,915 | 56,778,136 | 56,773,294 | 56,637,473 | · | 56,336,738 | 56,337,933 | 51,692,973 | · | 51,420,150 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $5M | $5M | $5M | $5M | $5M | $5M | $6M | $6M | $7M | $6M | $6M | $6M | $6M | $6M | $7M | $6M | |
| Stock-based Comp | $9M | $9M | $9M | $9M | $10M | $9M | $9M | $9M | $9M | $8M | $6M | $7M | $8M | $7M | $6M | $6M | |
| Deferred Tax | $107.0K | $-1M | $-3M | $-240.0K | $-900.0K | $2M | $-11M | $2M | $775.0K | $-842.0K | $-183.0K | $-3M | $587.0K | $191.0K | $-118M | $-25.0K | |
| Amort. of Intangibles | $607.0K | $705.0K | $723.0K | $771.0K | $821.0K | $821.0K | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $3M | |
| Other Non-cash | · | $-4M | · | · | · | $-8M | · | · | · | $-26M | · | · | · | $-8M | · | · | |
| Operating Cash Flow | $51M | $8M | $25M | $16M | $9M | $20M | $28M | $18M | $8M | $9M | $29M | $7M | $11M | $14M | $33M | $47M | |
| CapEx | $4M | $5M | $3M | $3M | $4M | $7M | $5M | $4M | $3M | $6M | $11M | $6M | $4M | $7M | $3M | $6M | |
| Investing Cash Flow | $-15M | $18M | $-53M | $-12M | $10M | $15M | $-46M | $-30M | $-10M | $21M | $-26M | $-30M | $3M | $-762.0K | $-48M | $5M | |
| Financing Cash Flow | $-2M | $-10M | $-1M | $820.0K | $-5M | $-5M | $-254.0K | $895.0K | $2M | $-15M | $-1M | $-2M | $25M | $-27M | $359.0K | $77.0K | |
| Net Change in Cash | $35M | $16M | $-30M | $4M | $14M | $29M | $-18M | $-11M | $129.0K | $15M | $2M | $-24M | $40M | $-14M | $-14M | $52M | |
| Taxes Paid | $171.0K | $714.0K | $17.0K | $476.0K | $1M | $-2M | $68.0K | $435.0K | $2M | $992.0K | $1M | $878.0K | $3M | $386.0K | $85.0K | $266.0K | |
| Free Cash Flow | · | $3M | · | · | · | $13M | · | · | · | $3M | · | · | · | $7M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $855.1K | · | · | · | $4M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.7% | 35.3% | · | 40.8% | 41.4% | 40.9% | · | 42.9% | 42.9% | 43.2% | · | 43.3% | 41.8% | 40.4% | · | 40.7% | |
| Operating Margin | 6.1% | -1.7% | · | 6.4% | 7.4% | 8.5% | · | 13.2% | 9.5% | 12.6% | · | 12.6% | 8.5% | 6.4% | · | 10.2% | |
| Net Margin | 6.1% | -0.20% | · | 6.4% | 7.1% | 7.1% | · | 11.9% | 8.5% | 12.5% | · | 13.9% | -52.8% | 5.7% | · | 8.8% | |
| Pretax Margin | 6.7% | -0.94% | · | 7.2% | 7.6% | 9.0% | · | 13.3% | 9.7% | 13.0% | · | 12.7% | -52.0% | 5.9% | · | 8.9% | |
| EBITDA Margin | 6.1% | 1.5% | · | 6.4% | 7.4% | 11.5% | · | 13.2% | 9.5% | 16.3% | · | 12.6% | 8.5% | 10.5% | · | 10.2% | |
| ROA | 0.88% | -0.02% | · | 0.83% | 0.93% | 0.95% | · | 1.7% | 1.2% | 1.8% | · | 2.2% | -8.0% | 0.84% | · | 1.5% | |
| ROE | 1.4% | -0.04% | · | 1.3% | 1.5% | 1.6% | · | 3.2% | 2.2% | 3.4% | · | 4.5% | -16.5% | 1.8% | · | 3.4% | |
| ROIC | 0.96% | -0.05% | · | 0.85% | 1.1% | 1.1% | · | 2.1% | 1.5% | 2.2% | · | 2.6% | 1.6% | 1.1% | · | 2.4% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.9 | 4.2 | · | 5.4 | 5.1 | 4.4 | · | 3.5 | 3.5 | 3.1 | · | 2.7 | 2.5 | 2.4 | · | 2.5 | |
| Quick Ratio | 1.5 | 1.6 | · | 2.0 | 1.9 | 1.6 | · | 1.4 | 1.3 | 1.2 | · | 1.0 | 1.1 | 1.0 | · | 1.2 | |
| Debt / Equity | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.6 | |
| LT Debt / Equity | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.6 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | 8.4 | · | 8.0 | 4.5 | 3.4 | · | 6.1 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.2 | 0.2 | 0.1 | · | 0.2 | |
| Inventory Turnover | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.5 | 0.4 | 0.5 | · | 0.6 | |
| Receivables Turnover | 1.5 | 1.2 | · | 1.3 | 1.7 | 1.5 | · | 1.5 | 1.6 | 1.5 | · | 1.3 | 1.3 | 1.4 | · | 1.5 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $14.77 | $14.48 | · | $14.56 | $14.23 | $13.93 | · | $13.15 | $12.59 | $12.15 | · | $11.44 | $10.87 | $11.33 | · | $8.58 | |
| Revenue / Share | $2.90 | $2.62 | · | $2.72 | $2.76 | $2.78 | · | $2.95 | $2.81 | $2.87 | · | $2.97 | $3.06 | $2.56 | · | $2.64 | |
| Cash Flow / Share | · | $0.13 | · | · | · | $0.33 | · | · | · | $0.15 | · | · | · | $0.23 | · | · | |
| Cash / Share | $3.51 | $2.94 | · | $3.21 | $3.14 | $3.00 | · | $2.87 | $3.07 | $3.07 | · | $2.78 | $3.20 | $2.72 | · | $3.29 | |
| EPS (TTM) | $0.36 | $0.38 | · | $0.82 | $1.01 | $1.06 | · | $1.44 | $1.50 | $-0.36 | · | $1.00 | $0.85 | $2.64 | · | $0.84 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $683M | $655M | · | $681M | $700M | $710M | · | $709M | $702M | $687M | · | $646M | $641M | $643M | · | $645M | |
| Net Income TTM | $23M | $23M | · | $49M | $61M | $64M | · | $80M | $83M | $-17M | · | $77M | $67M | $162M | · | $46M | |
| Market Cap | $4.63B | $2.07B | · | $1.83B | $1.22B | $1.17B | · | $1.88B | $2.65B | $1.99B | · | $1.58B | $1.45B | $1.09B | · | $942M | |
| Enterprise Value | $4.65B | $2.11B | · | $1.86B | $1.26B | $1.25B | · | $1.99B | $2.75B | $2.09B | · | $1.70B | $1.54B | $1.21B | · | $1.05B | |
| P/E | 210.6 | 89.1 | · | 37.1 | 20.1 | 18.9 | · | 23.0 | 31.1 | -97.7 | · | 28.1 | 30.2 | 8.0 | · | 21.8 | |
| P/S | 6.8 | 3.2 | · | 2.7 | 1.7 | 1.6 | · | 2.7 | 3.8 | 2.9 | · | 2.5 | 2.3 | 1.7 | · | 1.5 | |
| P/B | 5.1 | 2.3 | · | 2.1 | 1.4 | 1.4 | · | 2.5 | 3.7 | 2.9 | · | 2.5 | 2.4 | 1.9 | · | 2.1 | |
| P / Tangible Book | 6.8 | 3.1 | · | 2.8 | 1.9 | 2.0 | · | 3.8 | 5.8 | 4.6 | · | 4.1 | 4.1 | 3.4 | · | 4.0 | |
| P / Cash Flow | · | 260.4 | · | · | · | 58.5 | · | · | · | 212.8 | · | · | · | 78.5 | · | · | |
| EV / Revenue | 6.8 | 3.2 | · | 2.7 | 1.8 | 1.8 | · | 2.8 | 3.9 | 3.0 | · | 2.6 | 2.4 | 1.9 | · | 1.6 | |
| Earnings Yield | 0.47% | 1.1% | · | 2.7% | 5.0% | 5.3% | · | 4.3% | 3.2% | -1.0% | · | 3.6% | 3.3% | 12.5% | · | 4.6% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $664M | $717M | $666M | $646M | $583M |
| Gross Margin % | 40.0% | 42.4% | 42.8% | 40.7% | 41.5% |
| Operating Margin % | 5.4% | 9.3% | 10.5% | 9.3% | 9.7% |
| Net Income | $35M | $74M | $-30M | $167M | $26M |
| Diluted EPS | $0.59 | $1.23 | $-0.56 | $2.71 | $0.49 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 0.3 | 0.4 | 0.4 | 0.5 | 0.5 |
| Current Ratio | 4.7 | 4.0 | 3.2 | 2.6 | 2.9 |
| Quick Ratio | 1.5 | 1.3 | 1.2 | 1.1 | 1.2 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $53M | $46M | $34M | $84M | $27M |
Institutional owners (13F) 342 filers · $5.3B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
342
Value held
$5.3B
New positions
110
Exited positions
25
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 110 (+56 vs prior Q) | 25 (+3 vs prior Q) | 101 (+24 vs prior Q) | 80 (+8 vs prior Q) | +3.0M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $728,127,019 | 9,605,897 | 13.84% | Shares |
| FMR LLC | $686,817,582 | 9,060,918 | 13.05% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $357,498,572 | 4,716,340 | 6.79% | Shares |
| NEUBERGER BERMAN GROUP LLC | $274,831,939 | 3,651,115 | 5.22% | Shares |
| VANGUARD GROUP INC | $219,345,183 | 7,674,779 | 4.17% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $197,314,070 | 2,603,088 | 3.75% | Shares |
| STATE STREET CORP | $196,343,148 | 2,590,279 | 3.73% | Shares |
| PARADIGM CAPITAL MANAGEMENT INC/NY | $156,557,244 | 2,065,399 | 2.97% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $134,433,574 | 1,773,530 | 2.55% | Shares |
| Fisher Asset Management, LLC | $127,955,661 | 1,688,069 | 2.43% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $125,116,954 | 1,650,315 | 2.38% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $124,118,076 | 1,637,725 | 2.36% | Shares |
| FRANKLIN RESOURCES INC | $86,992,932 | 1,147,664 | 1.65% | Shares |
| WESTWOOD HOLDINGS GROUP INC | $81,084,699 | 1,069,719 | 1.54% | Shares |
| UBS Group AG | $79,416,569 | 1,047,712 | 1.51% | Shares |
| TWO SIGMA INVESTMENTS, LP | $69,061,532 | 911,102 | 1.31% | Shares |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | $65,835,938 | 868,548 | 1.25% | Shares |
| NEEDHAM INVESTMENT MANAGEMENT LLC | $64,115,430 | 845,850 | 1.22% | Shares |
| MILLENNIUM MANAGEMENT LLC | $58,079,400 | 766,219 | 1.10% | Shares |
| NORTHERN TRUST CORP | $57,946,826 | 764,470 | 1.10% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $57,727,385 | 761,575 | 1.10% | Shares |
| Davidson Kempner Capital Management LP | $56,850,000 | 750,000 | 1.08% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $49,803,784 | 657,042 | 0.95% | Shares |
| GOLDMAN SACHS GROUP INC | $48,072,663 | 634,204 | 0.91% | Shares |
| MORGAN STANLEY | $45,067,101 | 594,552 | 0.86% | Shares |
| Bank of New York Mellon Corp | $42,341,399 | 558,594 | 0.80% | Shares |
| MARSHALL WACE, LLP | $41,395,139 | 546,110 | 0.79% | Shares |
| RAYMOND JAMES FINANCIAL INC | $36,954,698 | 487,529 | 0.70% | Shares |
| First Eagle Investment Management, LLC | $35,160,058 | 463,853 | 0.67% | Shares |
| CRAMER ROSENTHAL MCGLYNN LLC | $34,712,837 | 457,953 | 0.66% | Shares |
| Boston Partners | $34,083,139 | 460,965 | 0.65% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $33,015,675 | 435,563 | 0.63% | Shares |
| Portolan Capital Management, LLC | $30,444,236 | 401,639 | 0.58% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $27,697,320 | 365,400 | 0.53% | Put option |
| FEDERATED HERMES, INC. | $24,273,130 | 320,226 | 0.46% | Shares |
| Grantham, Mayo, Van Otterloo & Co. LLC | $24,153,367 | 318,646 | 0.46% | Shares |
| WASATCH ADVISORS LP | $23,495,860 | 693,912 | 0.45% | Shares |
| BANK OF AMERICA CORP /DE/ | $23,301,224 | 307,404 | 0.44% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $22,609,852 | 298,283 | 0.43% | Shares |
| Invesco Ltd. | $21,707,529 | 286,379 | 0.41% | Shares |
| Magnetar Financial LLC | $21,026,086 | 277,389 | 0.40% | Shares |
| ROYCE & ASSOCIATES LP | $19,622,043 | 258,866 | 0.37% | Shares |
| Nishkama Capital, LLC | $18,833,571 | 248,464 | 0.36% | Shares |
| Nuveen, LLC | $18,745,795 | 247,306 | 0.36% | Shares |
| SILVERCREST ASSET MANAGEMENT GROUP LLC | $18,202,081 | 240,133 | 0.35% | Shares |
| Atreides Management, LP | $18,034,260 | 237,919 | 0.34% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $17,938,601 | 236,657 | 0.34% | Shares |
| Robeco Schweiz AG | $17,434,000 | 230,000 | 0.33% | Shares |
| ExodusPoint Capital Management, LP | $16,562,906 | 218,508 | 0.31% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $16,084,836 | 212,201 | 0.31% | Shares |
Activists & 5%+ owners 5 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Veeco Instruments Inc.* | March 13, 2017 | · | Initial filing | M&A / sale | SEC |
| Veeco Instruments Inc. | Feb. 10, 2003 | · | Initial filing | M&A / sale | SEC |
| FEI Company, an Oregon corporation | Feb. 3, 2003 | · | Initial filing | · | SEC |
| Undisclosed reporting person | July 22, 2002 | · | Initial filing | M&A / sale | SEC |
| FEI Company. | July 22, 2002 | · | Initial filing | M&A / sale | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 39 insiders · 16 officers · 15 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| William John Miller | CEO | Aug. 17, 2026 S | 169,570 | 0 | 10 | $-23,630,911 |
| Shubham Maheshwari | EVP, CFO & COO | Dec. 16, 2019 F | 143,500 | 0 | 0 | $0 |
| David D. Glass | EVP & CFO | Feb. 21, 2014 S | 4,534 | 0 | 0 | $0 |
| John F Rein JR | Exec. VP & CFO | Dec. 1, 2009 M | 58,496 | 0 | 0 | $0 |
| Don R Kania | President and COO | Aug. 4, 2006 M | 20,438 | 0 | 0 | $0 |
| Susan Wilkerson | SVP, GLOBAL SALES & SERVICE | June 11, 2026 S | 27,468 | 0 | 3 | $-4,334,389 |
| Adrian Devasahayam | SVP - PRODUCT LINE DEVELOPMENT | June 9, 2026 S | 85,115 | 0 | 3 | $-1,115,303 |
| Peter Porshnev | Chief Technology Officer | March 10, 2026 M | 195,059 | 0 | 0 | $0 |
| Peter Collingwood | SVP WW Sales & Field Service | Sept. 4, 2014 M | 7,842 | 0 | 0 | $0 |
| Robert P Oates | EVP Data Storage | June 9, 2011 A | 23,913 | 0 | 0 | $0 |
| Mark Robert Munch | EVP, M&I | Oct. 7, 2010 F | 28,109 | 0 | 0 | $0 |
| William A. Tomeo | EVP WW Sales & Service | Oct. 15, 2008 F | 41,880 | 0 | 0 | $0 |
| John K Bulman | Sr. VP, WW Sales | June 8, 2007 A | 14,196 | 0 | 0 | $0 |
| Benjamin Geklim Loh | EVP Global Field Operations | Dec. 6, 2006 A | 27,000 | 0 | 0 | $0 |
| Jeannine P Sargent | EVP Metrology/ Mktg/Bus Dev | Oct. 31, 2006 F | 32,690 | 0 | 0 | $0 |
| Marlin A Braun | Sr VP/GM, Compd Semicndtr. | Sept. 15, 2004 S | 17,972 | 0 | 0 | $0 |
| Gordon Hunter | Director | June 9, 2026 S | 11,236 | 0 | 5 | $-4,899,465 |
| Richard A Damore | Director | May 14, 2026 S | 112,594 | 0 | 1 | $-2,653,088 |
| Peter J Simone | Director | May 13, 2022 A | 52,664 | 0 | 0 | $0 |
| John R Peeler | Director | Feb. 6, 2020 M | 473,841 | 0 | 0 | $0 |
| Roger D Mcdaniel | Director | May 29, 2015 S | 19,443 | 0 | 0 | $0 |
| Susan Wang | Director | May 14, 2015 A | 3,854 | 0 | 0 | $0 |
| Edward H Braun | Director | May 14, 2015 A | 19,602 | 0 | 0 | $0 |
| Joel A Elftmann | Director | July 25, 2011 S | 22,549 | 0 | 0 | $0 |
| Thomas Gutierrez | Director | May 20, 2011 A | 3,251 | 0 | 0 | $0 |
| Heinz K Fridrich | Director | May 3, 2010 M | 13,503 | 0 | 0 | $0 |
| Irwin H Pfister | Director | Feb. 12, 2010 M | 8,503 | 0 | 0 | $0 |
| Douglas A Kingsley | Director | April 29, 2009 J | 25,000 | 0 | 0 | $0 |
| Paul R Low | Director | May 7, 2007 A | 10,000 | 0 | 0 | $0 |
| Walter J Scherr | Director | May 11, 2004 A | · | 0 | 0 | $0 |
| Mary Jane Raymond | · | Aug. 13, 2026 G | 25,967 | 0 | 0 | $0 |
| John P Kiernan | · | Aug. 10, 2026 S | 68,802 | 0 | 5 | $-1,786,596 |
| Thomas St Dennis | · | May 11, 2026 S | 61,697 | 0 | 1 | $-86,702 |
| Sujeet Chand | · | May 8, 2026 A | 33,079 | 0 | 0 | $0 |
| Lena Nicolaides | · | May 8, 2026 A | 25,472 | 0 | 0 | $0 |
| Kathleen A Bayless | · | May 8, 2026 A | 71,580 | 0 | 0 | $0 |
| Keith D Jackson | · | May 8, 2026 A | 86,154 | 0 | 0 | $0 |
| Anthony L Martinez | · | June 30, 2005 A | 5,545 | 0 | 0 | $0 |
| Paul E Colombo | · | May 23, 2005 S | 2,981,830 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 49 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| PSCT · Invesco Exchange-Traded Fund Trust … | 1.33% | 135,178 SH | Oct. 1, 2026 | Daily |
| FFSM · FIDELITY COVINGTON TRUST | 0.38% | 113,951 NS | July 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.27% | 64,390 SH | Aug. 19, 2026 | Daily |
| VIOG · VANGUARD ADMIRAL FUNDS | 0.26% | 37,051 SH | Aug. 19, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.25% | 213,368 SH | Aug. 19, 2026 | Daily |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.24% | 63,459 SH | Aug. 19, 2026 | Daily |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.20% | 9,121 SH | Oct. 1, 2026 | Daily |
| IWO · iShares Trust | 0.17% | 566,380 SH | Sept. 11, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.14% | 346,466 SH | Aug. 19, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.14% | 71,976 SH | Oct. 1, 2026 | Daily |
| FSMD · FIDELITY COVINGTON TRUST | 0.13% | 67,243 NS | July 31, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 0.13% | 34,303 NS | July 31, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.12% | 768,942 SH | Aug. 19, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.12% | 16,170 NS | July 31, 2026 | N-PORT |
| SMDX · Tidal Trust III | 0.12% | 2,998 NS | July 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.10% | 28,817 NS | July 31, 2026 | N-PORT |
| ESML · iShares Trust | 0.10% | 61,431 SH | Sept. 11, 2026 | Daily |
| IWM · iShares Trust | 0.09% | 1,542,399 SH | Sept. 11, 2026 | Daily |
| VGT · VANGUARD WORLD FUND | 0.07% | 1,505,666 SH | Aug. 19, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.07% | 211,456 NS | July 31, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.06% | 183,652 NS | July 31, 2026 | N-PORT |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.05% | 19,316 SH | Oct. 1, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.05% | 700,358 SH | Aug. 19, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.05% | 1,330,071 SH | Aug. 19, 2026 | Daily |
| FTEC · FIDELITY COVINGTON TRUST | 0.05% | 189,170 NS | July 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.04% | 9,477 SH | Sept. 11, 2026 | Daily |
| WSML · iShares Trust | 0.02% | 3,509 SH | Sept. 11, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.02% | 10,061 NS | July 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.01% | 135,789 NS | July 31, 2026 | N-PORT |
| IGM · iShares Trust | 0.01% | 29,570 SH | Sept. 11, 2026 | Daily |
| DFSU · Dimensional ETF Trust | 0.01% | 5,578 NS | July 31, 2026 | N-PORT |
| EBIT · Harbor ETF Trust | 0.01% | 25 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.01% | 1,842,220 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.01% | 4,873 SH | Aug. 19, 2026 | Daily |
| DFUV · Dimensional ETF Trust | 0.01% | 17,523 NS | July 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.01% | 13,208 NS | July 31, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.00% | 248 SH | Oct. 1, 2026 | Daily |
| DFUS · Dimensional ETF Trust | 0.00% | 17,348 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 82,472 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 15,622 SH | Sept. 10, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.00% | 379 NS | July 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.00% | 1,368 NS | July 31, 2026 | N-PORT |
| IJR · iShares Trust | · | 3,725,112 SH | Sept. 10, 2026 | Daily |
| IJT · iShares Trust | · | 294,514 SH | Sept. 9, 2026 | Daily |
| IJS · iShares Trust | · | 266,533 SH | Sept. 8, 2026 | Daily |
| XJR · iShares Trust | · | 8,459 SH | Sept. 1, 2026 | Daily |
| ISCB · iShares Trust | · | 2,709 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 6,710 SH | Sept. 11, 2026 | Daily |
| SMLF · iShares Trust | · | 103,038 SH | Sept. 11, 2026 | Daily |
VECO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 10 analysts
BUY
Median target
$63.00
+9.8%
3 30.0%
Strong Buy
3 30.0%
Buy
4 40.0%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
3 analysts · 2026-10-03Mean target $61.33 +6.9%
Now
Current price $57.38
Low$55.00
Mean$61.33
High$66.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| VECO | $1.73B | 48.4 | -7.4% | 5.3% | 4.1% | 40.0% |
| FORM | $4.51B | 84.1 | 2.8% | 6.9% | 5.4% | 39.3% |
| ACMR | · | 28.8 | 15.2% | 10.4% | 7.9% | 44.4% |
| AXTI | $905M | -33.4 | -11.1% | -24.1% | -9.1% | 12.7% |
| ACLS | $2.47B | 21.1 | -17.6% | 14.3% | 11.7% | 44.9% |
| ENPH | $4.20B | 24.8 | 10.7% | 11.7% | 17.9% | 46.6% |
| AEHR | $3.00B | -401.4 | -15.2% | -14.2% | -4.1% | 35.3% |
| COHU | $1.17B | -14.8 | 12.7% | -16.4% | -9.2% | · |
| UCTT | $1.18B | -6.5 | -2.1% | -8.8% | -22.9% | 15.7% |
| ICHR | $653M | -12.3 | 11.6% | -5.6% | -7.8% | 9.3% |
| PDFS | $1.13B | -1426.5 | 22.0% | -0.29% | -0.24% | 72.3% |
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Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
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Source: SEC 10-Q filed Aug 5, 2026