Veeco Instruments Inc (VECO) Fair Value & Analysis
Technology · US · Market cap $3.2B
Veeco Instruments Inc
VECO · US
Fair value as of: Jul 19, 2026
From 26 valuation models · updated 21 days ago
Fair value updated Jul 19, 2026, revised from $10.17 to $9.86 (−3.0%) since Jun 24, 2026. Share price −3.1% over the past month.
A solid business, but screening 81% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($12.32). The favourable scenario is already priced in.
- Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.
How to read this chart
60‑month range $17.13 – $83.04 · fair‑value band $7.30 – $12.32 · the $52.79 price screens above the $9.86 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.
Analysis
Veeco Instruments Inc (VECO) currently trades at $52.79, while our model-based Fair Value estimate is $9.86, implying the stock looks roughly 81.3% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Veeco Instruments Inc generated revenue of $655M at a net margin of 3.5%. Revenue declined 5.4% year over year. It earns a return on equity of 2.7%. Net debt stands at $94.4M. Fundamentals as of Jul 19, 2026
Our scenario range runs from $7.30 (bear case) to $12.32 (bull case); at $52.79, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 19% below its 52-week high and 174% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at -81%, VECO screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: DCF Models ($10.91) versus Dividend Discount ($1.32). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 63
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Veeco Instruments Inc., together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices in the United States, Europe, the Middle East, and Africa, China, Rest of the Asia-Pacific, and internationally.
Full company description
Veeco Instruments Inc., together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices in the United States, Europe, the Middle East, and Africa, China, Rest of the Asia-Pacific, and internationally. It offers laser annealing, ion beam deposition and etch, metal organic chemical vapor deposition, single wafer wet processing and surface preparation, molecular beam epitaxy, advanced packaging lithography, atomic layer deposition, and other deposition systems. The company's process equipment systems are used in the production of a range of microelectronic components, including logic, dynamic random-access memory, photonics devices, power electronics, radio frequency filters and amplifiers, magnetic heads for hard disk drives, and other semiconductor devices. In addition, it markets and sells its products to integrated device manufacturers and foundries; outsourced semiconductor assembly and test companies; and hard disk drive and photonics manufacturers, as well as research centers and universities. Veeco Instruments Inc. was founded in 1945 and is headquartered in Plainview, New York.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Veeco Instruments Inc reported revenue of $664M in FY2025 versus $583M in FY2021, a compound +3.3%/yr. Reported net income was $35.4M in FY2025, compounding +8.0%/yr from FY2021.
VECO screens 81% overvalued. Compare with ASML Holding →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Veeco Instruments (VECO) Is Up 5.6% After Raising 2026 Outlook And Securing AI Packaging Orders
- VECO Q2 Earnings Beat Estimates on Strong AI-Driven Demand
- VECO Q2 Earnings Call Ties 2027 Growth to Capacity Spending
- Veeco expects $780M-$810M 2026 revenue as it plans to more than double 2027 capacity in advanced packaging and silicon photonics
Peer Group
Semiconductor Equipment & Materials · 211 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 46/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ASML Holding ASML | C$50.50 | C$15.57 | -69% |
| Applied Materials, Inc AMAT | $579.43 | $143.08 | -75% |
| Lam Research Corporation LRCX | $346.10 | $67.57 | -80% |
| KLA Corporation KLAC | $212.75 | $53.01 | -75% |
| NAURA Technology Group 002371 | ¥774.20 | ¥151.43 | -80% |
| Advanced Micro-Fabrication Equipment Inc 688012 | ¥350.69 | ¥41.79 | -88% |
| Piotech Inc 688072 | ¥832.00 | ¥431.44 | -48% |
| Hon. Precision, Inc 7769 | 6,005 TWD | 1,804 TWD | -70% |
| Hangzhou Changchuan Technology Co 300604 | ¥325.24 | ¥33.33 | -90% |
| MPI Corporation 6223 | 5,600 TWD | 609.44 TWD | -89% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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