MKS Instruments
ConvictionWeak
Sells enabling subsystems, instruments, lasers/optics and consumable process chemistries to WFE OEMs, PCB/IC-substrate makers and industrial OEMs; content-per-tool rises with node complexity, plus a recurring consumables/services annuity from the Atotech chemistry installed base.
Revenue
$3,931MFY2025, cal yr ended Dec 31 2025); Q1 FY26 $1.08B, +15% YoYRev growth
+15% YoYQ1 FY26); FY2025 ~+8% est.Gross margin
46.7% FY202547% Q1 FY26 (non-GAAPOp margin
20.7% non-GAAP FY202521.8% Q1 FY26Capex intensity
~3.8% est.FY2025 capex ~$148M = OCF $645M − FCF $497M / rev $3,931MMarket cap
~$27Best., ~$410/sh × ~67M sh, Jun 25 2026Price · 1-year trend
real · weekly$349+232% 1yUSD
52-week range
$89 – $445
52w lowas of 2026-07-08 · Yahoo Finance52w high
Across the boards
The thesis on this name
opportunityWeak
Memory super-cycle monitor
Full context
Primary source
Reported financials — SEC EDGAR
Audited GAAP figures pulled from SEC filings · latest filing 2026-02-24. The audited primary-source spine — not investment advice.
Revenue — annual (GAAP)
FY’21
$2.9B
FY’22
$3.5B+20%
FY’23
$3.6B+2%
FY’24
$3.6B-1%
FY’25
$3.9B+10%
Margins & balance sheet — FY’25
Gross margin46.7%
Operating margin13.4%
Net margin7.5%
Net debt$2.2B
The read
Where our coverage leans
Coverage leans bullish
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Full financial intelligence for MKS Instruments
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage Jun 2026· sign in (free) for the analyst summary; Pro unlocks full intelligence