VECO - VEECO INSTRUMENTS INC

📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Revenue Growth YoY (%)	-7.4% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-248%)	7.6% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+53%)	3.1% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-37%)	10.8% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+116%)	28.4% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+469%)	8.3% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+66%)	-22.6% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-553%)	14.0% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+179%)	43.1% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+762%)	-30.3% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-706%)	21.4% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+328%)	18.4% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+268%)	-35.7% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-814%)	-47.3% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-1046%)	5.2% Fair Fair Year-over-year change in total revenue Optimal: > 10% vs Sector: At sector avg	229.8% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+4496%)	—	—
EPS Growth YoY (%)	-54.2% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	N/M	N/M	532.1% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	N/M	89.8% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	80.8% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-644.0% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	62.7% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-288.7% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	52.9% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-56.0% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	N/M	-75.2% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	-64.7% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	N/M	—	—
Net Income Growth YoY (%)	-52.0% Weak Weak Year-over-year change in net income	N/M	N/M	541.1% Excellent ↑ Excellent Improving Year-over-year change in net income	N/M	89.3% Excellent ↑ Excellent Improving Year-over-year change in net income	80.7% Excellent ↑ Excellent Improving Year-over-year change in net income	-692.1% Weak ↓ Weak Declining Year-over-year change in net income	57.9% Excellent ↑ Excellent Improving Year-over-year change in net income	-282.2% Weak ↓ Weak Declining Year-over-year change in net income	52.2% Excellent ↑ Excellent Improving Year-over-year change in net income	-58.4% Weak ↑ Weak Improving Year-over-year change in net income	N/M	-75.8% Weak Weak Year-over-year change in net income	-64.6% Weak Weak Year-over-year change in net income	N/M	—	—
FCF Growth YoY (%)	11.0% Fair ↓ Fair Declining Year-over-year change in free cash flow	29.1% Excellent ↓ Excellent Declining Year-over-year change in free cash flow	-62.7% Weak ↓ Weak Declining Year-over-year change in free cash flow	204.4% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-26.3% Weak Weak Year-over-year change in free cash flow	N/M	64.0% Excellent Excellent Year-over-year change in free cash flow	N/M	N/M	N/M	-92.9% Weak Weak Year-over-year change in free cash flow	N/M	N/M	62.7% Excellent → Excellent Stable Year-over-year change in free cash flow	-70.1% Weak Weak Year-over-year change in free cash flow	193.9% Excellent Excellent Year-over-year change in free cash flow	—	—
Revenue CAGR 3Y (%)	0.9% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	7.1% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	13.6% Good ↑ Good Improving Compound annual revenue growth over 3 years	15.5% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	2.5% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	-1.5% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	8.0% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	4.4% Caution ↑ Caution Improving Compound annual revenue growth over 3 years	6.6% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	0.1% Weak ↑ Weak Improving Compound annual revenue growth over 3 years	-2.6% Weak ↑ Weak Improving Compound annual revenue growth over 3 years	-26.2% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-29.1% Weak Weak Compound annual revenue growth over 3 years	22.3% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	7.9% Fair ↑ Fair Improving Compound annual revenue growth over 5 years	11.3% Good ↑ Good Improving Compound annual revenue growth over 5 years	4.2% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	6.3% Fair ↑ Fair Improving Compound annual revenue growth over 5 years	11.9% Good ↑ Good Improving Compound annual revenue growth over 5 years	-1.0% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	1.3% Caution ↑ Caution Improving Compound annual revenue growth over 5 years	10.3% Good ↑ Good Improving Compound annual revenue growth over 5 years	-1.6% Weak ↑ Weak Improving Compound annual revenue growth over 5 years	-19.4% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-12.5% Weak Weak Compound annual revenue growth over 5 years	6.8% Fair Fair Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	-43.6% Weak Weak Compound annual EPS growth over 3 years	35.2% Excellent Excellent Compound annual EPS growth over 3 years	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Operating Margin (%) (%)	5.4% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-55%)	9.3% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-22%)	10.5% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-13%)	9.3% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-22%)	9.7% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-19%)	5.0% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-59%)	-9.4% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-179%)	-76.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-739%)	-15.1% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-226%)	-36.2% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-402%)	-4.9% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-141%)	-20.2% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-268%)	-21.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-280%)	7.2% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-40%)	28.2% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+135%)	32.6% Excellent Excellent Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+171%)	2.7% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-77%)	—
Effective Tax Rate (%) (%)	10.1% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-7.1% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-7.2% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-227.4% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-1.4% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.9% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-1.0% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	6.2% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—	—	—	—
Profit Margin (%) (%)	5.3% Caution ↓ Caution Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-33%)	10.3% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+28%)	-4.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-157%)	25.8% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+223%)	4.5% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-44%)	-1.8% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-123%)	-18.8% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-335%)	-75.1% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1039%)	-10.8% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-235%)	-36.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-560%)	-6.7% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-184%)	-17.0% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-313%)	-12.7% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-259%)	6.0% Caution ↓ Caution Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-25%)	13.1% Fair ↓ Fair Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+63%)	38.9% Excellent Excellent Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+386%)	-5.5% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-169%)	—
FCF Margin (%) (%)	8.0% Caution → Caution Stable Free cash flow as a percentage of revenue Optimal: > 10%	6.4% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	5.1% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	13.0% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	4.6% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	8.0% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	-4.4% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-9.3% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	2.3% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-10.6% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	0.4% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	6.7% Caution → Caution Stable Free cash flow as a percentage of revenue Optimal: > 10%	-2.5% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	16.9% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	5.6% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	19.7% Good Good Free cash flow as a percentage of revenue Optimal: > 10%	18.3% Good Good Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	1.51x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	0.62x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-1.11x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.50x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	1.04x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	-4.32x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.23x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	0.12x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-0.21x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.29x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-0.06x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.40x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.20x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	2.81x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	0.43x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	0.51x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	-3.30x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Return on Invested Capital (%)	2.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	6.9% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	7.9% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	23.2% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	8.6% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	3.1% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-5.9% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-53.8% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-5.1% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-16.0% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-2.6% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-8.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-7.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	3.6% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	28.6% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	31.3% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	—	—
Return on Capital (%) (%)	2.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	5.4% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	5.7% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	5.3% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	6.3% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	2.5% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-4.8% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-46.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-5.2% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-15.9% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-2.6% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-8.5% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-7.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	4.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	29.5% Excellent Excellent Operating profit relative to total assets Optimal: > 10%	26.4% Excellent Excellent Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	4.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-73%)	9.6% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-36%)	-4.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-130%)	28.9% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+93%)	5.9% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-60%)	-2.1% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-114%)	-21.0% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-240%)	-93.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-720%)	-6.1% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-141%)	-20.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-237%)	-4.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-130%)	-9.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-160%)	-5.4% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-136%)	3.8% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-75%)	16.8% Good Good Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+12%)	47.4% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+216%)	—	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Debt to Equity (x)	0.26x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-64%)	0.36x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-49%)	0.41x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-42%)	0.48x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-32%)	0.52x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-25%)	0.79x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+12%)	0.80x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+14%)	0.66x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-6%)	0.33x Good ↑ Good Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-53%)	0.00x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	0.00x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	0.00x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	0.00x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	0.00x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	0.00x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	0.00x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	—	—
Interest Coverage (x)	4.40x Fair ↓ Fair Declining Operating income divided by interest expense Optimal: > 5x	6.88x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	5.94x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	5.24x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	2.00x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	0.91x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-1.79x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-19.31x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-3.69x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-542.35x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-50.07x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-110.78x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-120.09x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	24.77x Excellent ↓ Excellent Declining Operating income divided by interest expense Optimal: > 5x	60.06x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	36.98x Excellent Excellent Operating income divided by interest expense Optimal: > 5x	0.99x Weak Weak Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$62.54M	$130.60M	$116.16M	$119.73M	$109.69M	$191.49M	$170.77M	$75.12M	$-4.11M	$-276.62M	$-267.70M	$-268.96M	$-208.66M	$-382.15M	$-215.27M	$-242.48M	$-148.50M	$-102.52M
Debt / EBITDA (x)	4.06x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.00x Fair → Fair Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.90x Fair ↓ Fair Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.20x Caution ↑ Caution Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.77x Fair ↑ Fair Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	6.03x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-57.94x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.79x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-12.66x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.01x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.09x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.03x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.04x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.05x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.01x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.01x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Revenue per Share (USD)	$11.20	$12.71	$12.39	$12.95	$11.89	$9.39	$8.83	$11.50	$10.77	$8.45	$12.00	$9.98	$8.55	$13.41	$24.69	$23.57	$8.65	—
Basic EPS, GAAP (USD)	$0.60	$1.31	$-0.56	$3.35	$0.53	$-0.17	$-1.66	$-8.63	$-1.16	$-3.11	$-0.80	$-1.70	$-1.09	$0.80	$3.23	$9.16	$-0.48	—
Free Cash Flow per Share (USD)	$0.90	$0.81	$0.63	$1.68	$0.55	$0.75	$-0.39	$-1.07	$0.24	$-0.90	$0.05	$0.67	$-0.22	$2.26	$1.39	$4.65	$1.58	—
Book Value per Share (USD)	$14.66	$13.56	$11.93	$11.19	$8.64	$8.21	$7.64	$9.12	$17.45	$14.65	$17.63	$18.31	$19.67	$20.63	$19.62	$18.90	—	—
Tangible Book Value per Share (USD)	$11.10	$9.78	$8.12	$7.66	$4.38	$3.62	$2.67	$3.50	$3.39	$10.38	$11.55	$11.51	$14.47	$18.67	$17.51	$17.20	—	—
Basic Weighted Avg Shares (shares)	59.30M	56.43M	53.77M	49.91M	49.07M	48.36M	47.48M	47.15M	44.17M	39.34M	39.74M	39.35M	38.81M	38.48M	39.66M	39.50M	32.63M	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Working Capital (USD)	$667.28M	$572.25M	$488.25M	$411.00M	$360.18M	$440.25M	$357.65M	$360.03M	$372.82M	$358.00M	$379.90M	$387.25M	$485.45M	$632.20M	$587.08M	$640.14M	—	—
LT Debt (USD)	$226.01M	$276.20M	$274.94M	$274.66M	$229.44M	$321.12M	$300.07M	$287.39M	$275.63M	$826.00K	$1.53M	$1.85M	$2.14M	$2.41M	$2.65M	$2.65M	—	—
Total Equity (USD)	$885.51M	$770.77M	$672.44M	$577.82M	$437.63M	$408.37M	$374.51M	$437.77M	$840.09M	$594.60M	$714.62M	$738.93M	$780.23M	$811.21M	$760.52M	$762.51M	—	—

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Sales/Revenue/Turnover (USD)	$664.29M	$717.30M	$666.43M	$646.14M	$583.28M	$454.16M	$419.35M	$542.08M	$475.69M	$332.45M	$477.04M	$392.87M	$331.75M	$516.02M	$979.13M	$930.89M	$282.26M	—
Depreciation Expense (USD)	$20.02M	$25.14M	$24.97M	$25.64M	$26.06M	$30.70M	$34.40M	$50.00M	$50.09M	$32.65M	$39.85M	$24.57M	$18.43M	$16.19M	$12.89M	$10.79M	$12.23M	—
Net Income, GAAP (USD)	$35.39M	$73.71M	$-30.37M	$166.94M	$26.04M	$-8.39M	$-78.73M	$-407.09M	$-51.40M	$-122.21M	$-31.98M	$-66.94M	$-42.26M	$30.93M	$127.99M	$361.76M	$-15.63M	—
Operating Cash Flow (USD)	$69.49M	$63.81M	$61.67M	$108.48M	$67.74M	$43.02M	$-7.42M	$-37.74M	$34.99M	$-23.84M	$15.79M	$42.07M	$727.00K	$111.96M	$115.44M	$194.21M	$59.04M	—

VEECO INSTRUMENTS INC

Analytical Summary

18-Year Financial Trajectory

Health Breakdown

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