Is Veeco Instruments, Inc. overvalued or undervalued?

As of 6 August 2025, the valuation grade for Veeco Instruments, Inc. moved from attractive to fair, indicating a shift in its perceived value. The company appears fairly valued based on its current metrics. Key ratios include a P/E ratio of 13, an EV to EBITDA of 12.38, and a PEG ratio of 1.07, which suggest that the stock is reasonably priced relative to its earnings growth potential.
In comparison to its peers, Veeco Instruments has a P/E ratio of 16.65, which is lower than Littelfuse, Inc. at 30.08, indicating that Veeco may be a more attractive option within the sector. However, it is higher than Universal Display Corp., which has a P/E of 28.20, suggesting that while Veeco is fairly valued, it is not the cheapest option available. Notably, over the past five years, Veeco has returned 134.13%, outperforming the S&P 500's 96.61%, reinforcing its competitive position in the market.