Is Veeco Instruments, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Veeco Instruments, Inc. has moved from attractive to fair. The company appears to be 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 compared to its earnings growth potential.
In comparison to peers, Littelfuse, Inc. has a significantly higher P/E ratio of 30.08, indicating it is very expensive, while Universal Display Corp. is considered very attractive with a P/E of 28.20. Despite Veeco's fair valuation, its recent stock performance shows a YTD return of 8.88%, which lags behind the S&P 500's return of 13.30%, and a 1Y return of -4.55% compared to the S&P 500's 14.08%. This underperformance reinforces the notion that Veeco may not be an attractive investment at this time.