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Held by 233 of 5,944 reporting institutions (93th percentile) — extremely crowded.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $42.72 today, the market must believe free cash flow compounds 22.7%/yr for a decade (off $44M normalized FCF).
The market's 22.7% is in line with its 8-yr track record.
2-stage DCF · 0.06B shares · net debt $63M
mean -65.6% · volatility σ 264% · implied rate exceeded in 2/6 yrs
Central path = implied 22.7%/yr growth; shaded band = ±1σ (264%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 743 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TSM | $11.27T | — | — | — | — | — | — | — | — | — | 3,121 |
| NVDA | $5.40T | 45.4× | 40.5× | 25.0× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | 0.1× | 5,582 |
| AAPL | $4.97T | 45.1× | 34.7× | 11.9× | 6.4% | 46.9% | 26.9% | 152% | 68.1% | 0.6× | 5,858 |
| MSFT | $3.67T | 27.5× | 19.4× | 11.1× | 17.8% | 67.9% | 40.3% | 30.2% | 27.7% | 0.2× | 5,944 |
| AVGO | $1.70T | 75.0× | 66.9× | 26.5× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 2.5× | 4,442 |
| MU | $1.14T | 133.8× | 63.0× | 30.5× | 48.9% | 39.8% | 22.8% | 15.8% | 12.9% | 0.7× | 2,894 |
| AMD | $912.5B | 211.3× | 215.9× | 26.3× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | 0.8× | 3,059 |
| INTC | $542.3B | — | 67.3× | 10.3× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 5.5× | 2,495 |
| CSCO | $433.7B | 43.0× | 36.4× | 7.7× | 5.3% | 64.9% | 18.0% | 21.7% | 13.6% | 2.3× | 3,560 |
| PLTR | $424.8B | 282.0× | 294.0× | 94.9× | 56.2% | 82.4% | 36.3% | 22.0% | 22.0% | — | 2,883 |
| DELL | $370.4B | 65.4× | 34.9× | 3.3× | 18.8% | 20.0% | 5.2% | -240% | 20.4% | 2.8× | 1,564 |
| LRCX | $365.5B | 69.4× | 58.4× | 19.8× | 23.7% | 48.7% | 29.1% | 54.3% | 37.4% | 0.7× | 2,500 |
| AMAT | $352.5B | 51.3× | 40.5× | 12.4× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | 0.8× | 2,826 |
| RPAY | $340.5B | — | — | 1101.1× | -1.2% | 75.0% | -83.0% | -53.0% | -28.2% | -1.7× | 142 |
| UMC | $309.1B | — | — | — | — | — | — | — | — | — | 302 |
| ARM | $293.3B | 324.3× | 252.8× | 59.6× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | — | 730 |
| SNDK | $261.6B | — | — | 35.6× | 10.4% | 30.1% | -22.3% | -17.8% | -14.8% | -1.5× | 1,127 |
| SAP | $257.3B | — | — | — | — | — | — | — | — | — | 794 |
| ANET | $250.5B | 72.5× | 63.3× | 27.8× | 28.6% | 64.1% | 39.0% | 28.4% | 28.4% | — | 1,930 |
| PANW | $242.9B | 227.2× | 151.7× | 26.3× | 14.9% | 73.4% | 12.3% | 14.5% | 14.5% | — | 2,374 |
| TXN | $242.4B | 48.9× | 31.9× | 13.7× | 13.0% | 57.0% | 28.3% | 30.7% | 16.5% | 1.8× | 2,345 |
| CRM | $221.0B | 30.5× | 23.9× | 5.3× | 9.6% | 77.7% | 18.0% | 12.6% | 10.1% | 1.5× | 2,547 |
| IBM | $215.1B | 20.6× | — | 3.2× | 7.6% | 58.2% | 15.7% | 32.4% | 11.3% | — | 3,351 |
| MRVL | $207.0B | 79.6× | 135.2× | 25.3× | 42.1% | 51.0% | 32.6% | 18.7% | 14.2% | 2.9× | 1,477 |
| QCOM | $190.9B | 35.5× | 14.3× | 4.3× | 13.7% | 55.4% | 12.5% | 26.1% | 15.4% | 1.1× | 2,611 |
| VECO | $2.6B | 72.4× | 47.4× | 3.9× | -7.4% | 40.0% | 5.3% | 4.0% | 3.2% | 4.1× | 233 |
Peers = companies sharing VECO's sector (Technology) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
EOD close · as of 2026-09-18
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $664.3M 100.0% | $717.3M 100.0% | $666.4M 100.0% | $646.1M 100.0% | $583.3M 100.0% | $454.2M 100.0% | $419.3M 100.0% | $542.1M 100.0% | $475.7M 100.0% | $331.7M 100.0% |
| Cost of Revenue | $398.9M 60.0% | $413.3M 57.6% | $381.4M 57.2% | $383.0M 59.3% | $341.0M 58.5% | $259.9M 57.2% | $261.2M 62.3% | $348.4M 64.3% | $299.5M 63.0% | $198.6M 59.9% |
| Gross Profit | $265.4M 40.0% | $304.0M 42.4% | $285.1M 42.8% | $263.1M 40.7% | $242.3M 41.5% | $194.3M 42.8% | $158.2M 37.7% | $193.7M 35.7% | $176.2M 37.0% | $133.1M 40.1% |
| Research & Development | $119.6M 18.0% | $124.5M 17.4% | $112.9M 16.9% | $103.6M 16.0% | $88.7M 15.2% | $79.0M 17.4% | $90.6M 21.6% | $97.8M 18.0% | $82.0M 17.2% | $81.0M 24.4% |
| Selling, General & Admin | $98.9M 14.9% | $99.7M 13.9% | $92.8M 13.9% | $89.0M 13.8% | $84.5M 14.5% | $76.3M 16.8% | $79.7M 19.0% | $92.1M 17.0% | $100.3M 21.1% | $77.6M 23.4% |
| Total Operating Expenses | $229.7M 34.6% | $237.0M 33.0% | $215.1M 32.3% | $202.9M 31.4% | $185.6M 31.8% | $171.7M 37.8% | $197.8M 47.2% | $609.2M 112.4% | $248.1M 52.2% | $253.3M 76.4% |
| Operating Income | $35.7M 5.4% | $67.0M 9.3% | $69.9M 10.5% | $60.3M 9.3% | $56.7M 9.7% | $22.6M 5.0% | -$39.6M -9.4% | -$415.5M -76.6% | -$71.9M -15.1% | -$120.2M -36.2% |
| Interest Expense | $9.1M 1.4% | $11.0M 1.5% | $11.8M 1.8% | $11.5M 1.8% | $28.4M 4.9% | $24.7M 5.4% | $22.1M 5.3% | $21.5M 4.0% | $19.5M 4.1% | $222K 0.1% |
| Interest & Investment Income | $13.5M 2.0% | $12.9M 1.8% | $10.6M 1.6% | $2.2M 0.3% | $2.3M 0.4% | $1.6M 0.3% | $4.7M 1.1% | $3.2M 0.6% | $2.3M 0.5% | $1.2M 0.4% |
| Other Income (Expense), net | -$653K -0.1% | — | -$97.1M -14.6% | — | -$5.0M -0.9% | -$7.8M -1.7% | -$21.0M -5.0% | — | — | — |
| Pretax Income | $39.4M 5.9% | $68.8M 9.6% | -$28.3M -4.3% | $51.0M 7.9% | $25.7M 4.4% | -$8.5M -1.9% | -$78.0M -18.6% | -$433.8M -80.0% | -$89.0M -18.7% | -$119.2M -35.9% |
| Income Tax Expense | $4.0M 0.6% | -$4.9M -0.7% | $2.0M 0.3% | -$116.0M -17.9% | -$358K -0.1% | -$73K -0.0% | $777K 0.2% | -$26.7M -4.9% | -$37.6M -7.9% | $2.8M 0.9% |
| Net Income | $35.4M 5.3% | $73.7M 10.3% | -$30.4M -4.6% | $166.9M 25.8% | $26.0M 4.5% | -$8.4M -1.8% | -$78.7M -18.8% | -$407.1M -75.1% | -$51.4M -10.8% | -$122.0M -36.8% |
| Per Share | ||||||||||
| EPS (Basic) | $0.60 | $1.31 | $-0.56 | $3.35 | $0.53 | $-0.17 | $-1.66 | $-8.63 | $-1.16 | $-3.10 |
| EPS (Diluted) | $0.59 | $1.23 | $-0.56 | $2.71 | $0.49 | $-0.17 | $-1.66 | $-8.63 | $-1.16 | $-3.10 |
| Weighted Avg Shares (Basic) | 59.3M | 56.4M | 53.8M | 49.9M | 49.1M | 48.4M | 47.5M | 47.2M | 44.2M | 39.3M |
| Weighted Avg Shares (Diluted) | 60.6M | 61.6M | 53.8M | 65.6M | 53.6M | 48.4M | 47.5M | 47.2M | 44.2M | 39.3M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage rising year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $53M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 3%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $163M covers all $2M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2013-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~4.0% on $226M of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-18
Where each multiple sits in its own 14-yr range · 96th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 6.3× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 64.3 | 62.3 | 57.2 | 58.5 | 59.3 | 57.2 | 57.6 | 60.0 |
| Gross Profit | 35.7 | 37.7 | 42.8 | 41.5 | 40.7 | 42.8 | 42.4 | 40.0 |
| R&D | 18.0 | 21.6 | 17.4 | 15.2 | 16.0 | 16.9 | 17.4 | 18.0 |
| SG&A | 17.0 | 19.0 | 16.8 | 14.5 | 13.8 | 13.9 | 13.9 | 14.9 |
| Operating Income | -76.6 | -9.4 | 5.0 | 9.7 | 9.3 | 10.5 | 9.3 | 5.4 |
| Income Tax | -4.9 | 0.2 | -0.0 | -0.1 | -17.9 | 0.3 | -0.7 | 0.6 |
| Net Income | -75.1 | -18.8 | -1.8 | 4.5 | 25.8 | -4.6 | 10.3 | 5.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on VECO: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position