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Ray DalioReduced
Bridgewater Associates · Q2 2026
$316.92K
4.18K shares · 0.0% of portfolio
Veeco Instruments Inc
Veeco Instruments Inc (VECO) is listed on NASDAQ and classified in Semiconductor Equipment & Materials, part of the Technology sector. It is headquartered in Plainview, United States and has 1,265 employees. The company is worth $2.51B and trades at 124.7x its earnings of the last twelve months; the median for its sector is 28.0x. Revenue was $664.29M in fiscal 2025, down 7.4% from the year before. Net income was $35.39M. The share price is 52.5% below its 52-week high of $86.63. 5 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Two Sigma (Two Sigma Investments), at $69.06M. In that quarter, 2 of them opened or added to the position and 2 reduced it. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▲ +60.8% over 5Y.
today you would have $1,759.98▲ +76.0%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 17 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $28.58 | $26.80 | $31.03 | $18.58 | $28.47 | $17.36 | $14.69 | $7.41 | $14.85 | $29.15 | $20.56 | $34.88 | $32.91 | $29.49 | $20.80 | $42.96 | $33.04 | |
| P/E |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Median P/E of 28.0 among peers in the sector.
Median P/E of 21.8 across this company’s own years on record.
Cash flow growing 4.8% a year for 10 years, discounted at 10%, then 2.5% forever.
Sector median of 14.3x operating profit, less net debt. Banks have no EBITDA.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Companies of similar size in Technology, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| PLUSEplus Inc | $96.15 | 20.6x | 2.3x | 1.12% | 11.70% | $2.51B |
| EEFTEuronet Worldwide Inc | $67.06 | 10.5x | 2.0x | 0.00% | 22.37% | $2.51B |
| VERXVertex, Inc. | $15.32 | 1532.0x | 10.0x | 0.00% | 1.46% | $2.49B |
| NCNOnCino, Inc. | $23.34 |
| 21.8x |
| 48.4x |
| 21.8x |
| — |
| 6.9x |
| 58.1x |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| 37.3x |
| 6.7x |
| 5.0x |
| — |
| P/S | 2.2x | 2.6x | 2.2x | 2.6x | 1.5x | 2.5x | 1.9x | 1.7x | 0.7x | 1.5x | 3.6x | 1.7x | 3.6x | 4.0x | 2.2x | 0.8x | 1.9x | 3.8x |
| P/B | 1.9x | 1.9x | 2.0x | 2.6x | 1.7x | 3.3x | 2.1x | 1.9x | 0.8x | 0.9x | 2.0x | 1.2x | 1.9x | 1.7x | 1.4x | 1.1x | 2.3x | 3.0x |
| EPS | $0.59 | $1.23 | -$0.56 | $2.71 | $0.49 | -$0.17 | -$1.66 | -$8.63 | -$1.16 | -$3.10 | -$0.80 | -$1.70 | -$1.09 | $0.79 | $3.11 | $8.51 | -$0.48 |
| Profit margin | -4.56% | 5.33% | 10.28% | -4.56% | 25.84% | 4.46% | -1.85% | -18.78% | -75.10% | -10.60% | -36.71% | -6.70% | -17.04% | -12.74% | 5.99% | 13.07% | 38.86% | -5.54% |
| ROE | -4.35% | 4.00% | 9.56% | -4.52% | 28.89% | 5.95% | -2.05% | -21.02% | -92.99% | -6.12% | -20.28% | -4.47% | -9.06% | -5.42% | 3.81% | 16.83% | 47.44% | -4.35% |
Median of the years shown; P/E years above 200x are left out.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
5 methods answered, across 3 families.
Room for errors in the reported numbers.
-72.2% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| 68.6x |
| 2.6x |
| 0.00% |
| 3.85% |
| $2.47B |
| BLKBBlackbaud Inc | $56.48 | 17.6x | 37.8x | 0.00% | 194.45% | $2.56B |
| DXCDXC Technology Co | $16.08 | 21.2x | 0.8x | 0.00% | 4.03% | $2.57B |