Axcelis Technologies vs Veeco Instruments
Axcelis Technologies is the larger business, with $839m of revenue in fiscal 2025 against $664m for Veeco Instruments (1.3 times as much). Veeco Instruments grew faster (-7.4% against -17.6%). Axcelis Technologies kept more of each dollar of sales as profit: a net margin of 14.3% against 5.3%.
| Latest fiscal year | Axcelis TechnologiesACLS, 2025 | Veeco InstrumentsVECO, 2025 |
|---|---|---|
| Revenue | $839m | $664m |
| Revenue growth | -17.6% | -7.4% |
| Net income | $120m | $35.4m |
| Operating margin | 14.2% | — |
| Net margin | 14.3% | 5.3% |
| Return on equity | 11.7% | 4.3% |
| Free cash flow | $107m | $53.3m |
| Cash | $145m | $163m |
| Total debt | $0 | $226m |
| Debt to equity | 0.0% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $121m | — |
| Employees | 1,465 | 1,265 |
| Market value | $2.94bn | $2.28bn |
| Price vs our value range | Above our value range | Above our value range |
| Moat score | 82 (Strong) | 45 (Weak) |
| Insider trades, 12 months | 0 buys, 23 sales | 0 buys, 26 sales |