Is Veeco Instruments, Inc. overvalued or undervalued?

As of 7 November 2025, the valuation grade for Veeco Instruments, Inc. has moved from expensive to fair. This indicates that the company is fairly valued at present. Key valuation 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 peers, Veeco's P/E ratio of 13 is significantly lower than Littelfuse, Inc.'s 30.08 and Universal Display Corp.'s 28.20, indicating that Veeco may offer better value in terms of earnings. Additionally, while Veeco has a fair valuation, some peers like Advanced Energy Industries, Inc. are considered very expensive with a P/E ratio of 43.33. Over the past year, Veeco's stock has returned 8.30%, which is lower than the S&P 500's return of 12.65%, but it has outperformed the index over the longer term, particularly in the 5-year period with a return of 110.22% compared to the S&P 500's 91.73%.