MKS Inc. (MKSI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$2.96	$3.3	+11.5%	—	$1.2B	—
Q1 26	$2.05	$2.3	+12.2%	—	$1.1B	—
Q4 25	$2.46	$2.47	+0.4%	—	$1B	—
Q3 25	$1.85	$1.93	+4.3%	—	$988M	—
Q2 25	$1.64	$1.77	+7.9%	—	$973M	—
Q1 25	$1.45	$1.71	+17.9%	—	$936M	—
Q4 24	$1.96	$2.15	+9.7%	—	$934M	—
Q3 24	$1.45	$1.72	+18.6%	—	$896M	—
Q2 24	$1.04	$1.53	+47.1%	—	$887M	—
Q1 24	$0.74	$1.18	+59.5%	—	$868M	—
Q4 23	$0.84	$1.17	+39.3%	—	$892M	—
Q3 23	$1.02	$1.46	+43.1%	—	$932M	—
Q2 23	$1.17	$1.32	+12.8%	—	$1B	—
Q1 23	-$0.14	$0.48	+442.9%	—	$794M	—
Q4 22	$1.34	$2	+49.3%	—	$1.1B	—
Q3 22	$2.39	$2.74	+14.6%	—	$954M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$4.39	—	—	$3.9B	—
FY24	—	$2.82	—	—	$3.6B	—
FY23	—	-$27.5	—	—	$3.6B	—
FY22	—	$5.57	—	—	$3.5B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.3B	$1.9B	$2.1B	$1.9B	$2.3B	$3B	$3.5B	$3.6B	$3.6B	$3.9B
YoY change	+59.2%	+47.9%	+8.31%	-8.45%	+22.6%	+26.6%	+20.2%	+2.11%	-0.99%	+9.62%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.3B	1.9B	2.1B	1.9B	2.3B	3B	3.5B	3.6B	3.6B	3.9B
Cost of revenue	729.7M	1B	1.1B	1.1B	1.3B	1.6B	2B	2B	1.9B	2.1B
Gross profit	565.6M	891.5M	979.5M	830.4M	1B	1.4B	1.5B	1.6B	1.7B	1.8B
Gross margin	43.7%	46.5%	47.2%	43.7%	45%	46.8%	43.6%	45.3%	47.6%	46.7%
Research & development	110.6M	132.6M	135.7M	164.1M	173M	200M	241M	288M	271M	299M
Selling, general & administrative	227.9M	290.1M	298.1M	330.3M	353M	385M	488M	675M	674M	724M
Operating expenses	338.5M	422.6M	434.8M	494.4M	526M	585M	729M	963M	945M	1B
Operating income	191.4M	423.1M	502.2M	268.6M	468M	740M	672M	384M	518M	567M
Operating margin	14.8%	22.1%	24.2%	14.1%	20.1%	25.1%	18.9%	10.6%	14.4%	14.4%
Non-operating income, net	-34.2M	53M	-9.7M	-45.5M	-17M	-50M	-66M	-2B	-70M	-63M
Pretax income	128M	447.6M	481M	177.8M	423M	665M	433M	-1.9B	180M	304M
Income tax	23.2M	108.5M	88.1M	37.4M	73M	114M	100M	-87M	-10M	9M
Net income	104.8M	339.1M	392.9M	140.4M	350M	551M	333M	-1.8B	190M	295M
Net margin	8.09%	17.7%	18.9%	7.39%	15%	18.7%	9.39%	-50.8%	5.3%	7.5%
EBITDA	257.4M	502.3M	585.4M	374.1M	565M	835M	881M	769M	942M	924M
EPS	1.96	6.26	7.22	2.57	6.36	9.95	5.57	-27.5	2.82	4.39
Diluted EPS	1.94	6.16	7.14	2.55	6.33	9.9	5.56	-27.5	2.81	4.37

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	932M	892M	868M	887M	896M	934M	936M	973M	988M	1B	1.1B	1.2B
Cost of revenue	506M	481M	453M	468M	464M	493M	492M	520M	527M	554M	571M	653M
Gross profit	426M	411M	415M	419M	432M	441M	444M	453M	461M	479M	507M	595M
Gross margin	45.7%	46.1%	47.8%	47.2%	48.2%	47.2%	47.4%	46.6%	46.7%	46.4%	47%	47.7%
Research & development	71M	70M	70M	66M	70M	65M	70M	76M	76M	77M	81M	76M
Selling, general & administrative	167M	161M	170M	161M	167M	176M	185M	175M	180M	185M	190M	200M
Operating expenses	238M	231M	240M	227M	237M	241M	255M	251M	256M	262M	289M	276M
Operating income	120M	110M	113M	131M	134M	139M	129M	140M	142M	154M	173M	257M
Operating margin	12.9%	12.3%	13%	14.8%	15%	14.9%	13.8%	14.4%	14.4%	14.9%	16%	20.6%
Non-operating income, net	-9M	-105M	-10M	-35M	-16M	-4M	-20M	-17M	-8M	-16M	-28M	-8M
Pretax income	22M	-80M	19M	22M	60M	80M	59M	72M	84M	89M	102M	213M
Income tax	-17M	-11M	4M	-1M	-2M	-11M	7M	10M	10M	-18M	18M	38M
Net income	39M	-69M	15M	23M	62M	91M	52M	62M	74M	107M	84M	175M
Net margin	4.18%	-7.74%	1.73%	2.59%	6.92%	9.74%	5.56%	6.37%	7.49%	10.4%	7.79%	14%
EBITDA	227M	198M	207M	243M	236M	238M	224M	224M	232M	242M	243M	347M
EPS	0.59	-1.02	0.22	0.34	0.92	1.34	0.77	0.92	1.1	1.6	1.24	2.59
Diluted EPS	0.58	-1.02	0.22	0.33	0.92	1.33	0.77	0.92	1.1	1.58	1.18	2.41

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	3.2B	5.1B	3.5B	6B	8.3B	9.6B	5.1B	—	7B	10.8B	17.5B
Enterprise value	3.4B	5B	3.1B	6.4B	8.5B	9.6B	9.3B	—	11.1B	14.5B	21.2B
Shares outstanding	53.5M	54.1M	54.4M	54.7M	55.1M	55.4M	59.7M	66.8M	67.3M	67.3M	67.3M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	30.3	15.1	8.95	42.9	23.7	17.5	15.2	—	37	36.5	40.6
P/S	2.45	2.67	1.69	3.17	3.56	3.27	1.43	—	1.96	2.74	3.98
P/B	2.56	3.22	1.88	2.97	3.51	3.34	1.13	—	3.03	3.96	5.78
EV/EBITDA	13.1	9.89	5.37	17.2	15	11.5	10.6	—	11.8	15.7	20.1
EV/Sales	2.6	2.59	1.52	3.39	3.64	3.27	2.63	—	3.09	3.7	4.88
Earnings yield	3.3%	6.63%	11.2%	2.33%	4.22%	5.71%	6.58%	—	2.7%	2.74%	2.46%
FCF yield	5.07%	6.33%	9.98%	3%	5.16%	5.73%	7.22%	—	5.84%	4.62%	2.75%
PEG	—	—	—	—	—	—	—	—	—	—	0.22

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	43.7%	46.5%	47.2%	43.7%	45%	46.8%	43.6%	45.3%	47.6%	46.7%	47.7%
Operating margin	14.8%	22.1%	24.2%	14.1%	20.1%	25.1%	18.9%	10.6%	14.4%	14.4%	20.6%
Net margin	8.09%	17.7%	18.9%	7.39%	15%	18.7%	9.39%	-50.8%	5.3%	7.5%	10.1%
ROE	8.44%	21.3%	21%	6.94%	14.8%	19.1%	7.43%	-74.5%	8.18%	10.8%	15.8%
ROA	4.74%	14%	15%	4.11%	8.97%	12.1%	2.9%	-20.2%	2.21%	3.35%	5.02%
ROIC	10.9%	22.3%	27.3%	8.66%	15.1%	21.3%	5.91%	5.8%	8.11%	8.48%	9.97%
Return on tangible assets	47.8%	67.9%	49.1%	82.5%	46.9%	59.1%	-9.6%	149.9%	-20.8%	-46.7%	-176.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	4.21	4.27	5.56	4.51	4.83	4.67	2.93	3.18	3.19	2.71	1.14
Quick ratio	3.05	3.1	4.1	3.06	3.48	3.41	1.91	2.01	2.04	1.71	0.72
Debt / equity	0.49	0.25	0.19	0.47	0.44	0.36	1.15	2.03	2.06	1.64	1.4
Debt / assets	0.28	0.16	0.13	0.28	0.26	0.23	0.45	0.55	0.56	0.51	0.47
Net debt / EBITDA	0.75	-0.3	-0.63	1.14	0.35	-0.02	4.83	5.4	4.32	4.08	3.36
Interest coverage	5.18	15.4	29.5	5.03	15.6	27.6	3.45	-4.42	1.53	2.33	3.53
Effective tax rate	18.1%	24.2%	18.3%	21%	17.3%	17.1%	23.1%	0%	0%	2.96%	9.84%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	24.2	35.4	38.1	34.7	42.3	53.2	59.4	54.2	53.3	58.4	64.5
EPS (basic)	1.96	6.26	7.22	2.57	6.36	9.95	5.57	-27.5	2.82	4.39	4.39
EPS (diluted)	1.94	6.16	7.14	2.55	6.33	9.9	5.56	-27.5	2.81	4.37	6.29
Book value per share	23.2	29.3	34.4	37	42.8	52.1	75.1	37	34.5	40.4	44.2
FCF per share	3.01	5.98	6.45	3.3	7.77	9.98	6.11	3.47	6.09	7.38	6.26
Cash per share	7.82	10	13.2	9.58	15.2	18.8	15.2	13.1	10.6	10	9.04
Capex per share	0.36	0.58	1.16	1.17	1.54	1.57	2.6	1.26	1.74	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.48%	1.63%	3.03%	3.36%	3.65%	2.95%	4.37%	2.32%	3.26%	—	—
Capex / operating cash flow	14.9%	8.03%	15.7%	28.1%	18.2%	13.9%	32.1%	-5.18%	33.1%	—	—
Payout ratio	34.7%	11.3%	10.8%	31%	12.6%	8.53%	15.6%	-3.2%	31.1%	20%	15%
Dividend yield	1.14%	0.75%	1.21%	0.72%	0.53%	0.49%	1.03%	—	0.84%	0.55%	0.39%

Yield

0.39%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.25

ex-dividend Aug 25, 2026

Payout ratio

15%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 25, 2026	$0.25
Jun 3, 2026	$0.25
Feb 23, 2026	$0.25
Nov 24, 2025	$0.22

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$932M	$892M	$868M	$887M	$896M	$934M	$936M	$973M	$988M	$1B	$1.1B	$1.2B
YoY change	-2.31%	-17.9%	+9.32%	-11.6%	-3.86%	+4.71%	+7.83%	+9.7%	+10.3%	+10.6%	+15.2%	+28.3%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	418.1M	543.3M	718.2M	524M	836M	1B	910M	875M	714M	675M
Receivables	248.8M	300.3M	295.5M	341.1M	392.7M	443M	720M	603M	615M	651M
Inventory	275.9M	339.1M	384.7M	462.1M	501.4M	577M	977M	991M	893M	921M
Total current assets	998.8M	1.2B	1.5B	1.4B	1.8B	2.1B	2.8B	2.7B	2.5B	2.5B
Property, plant & equipment	74.4M	68.2M	90.3M	193.1M	348.5M	377M	704M	674M	687M	701M
Goodwill & intangibles	2B	1.9B	1.8B	3.2B	3.2B	3.6B	15B	10.3B	9.5B	9.4B
Total assets	2.2B	2.4B	2.6B	3.4B	3.9B	4.5B	11.5B	9.1B	8.6B	8.8B
Accounts payable	69.3M	82.5M	83.8M	88.4M	110.6M	168M	426M	327M	341M	407M
Short-term debt	11M	3M	4M	32.7M	30.3M	27M	119M	123M	81M	51M
Total current liabilities	237.3M	289.8M	263.3M	317.7M	373.9M	460M	952M	848M	775M	927M
Long-term debt	601.2M	390M	343.8M	916.5M	1B	1B	5B	4.9B	4.7B	4.4B
Total liabilities	970.5M	825.1M	741.1M	1.4B	1.5B	1.7B	7B	6.6B	6.3B	6.1B
Shareholders' equity	1.2B	1.6B	1.9B	2B	2.4B	2.9B	4.5B	2.5B	2.3B	2.7B
Total debt	612.2M	393M	347.8M	949.2M	1B	1B	5.2B	5B	4.8B	4.4B
Net debt	383.6M	59.1M	-296.5M	534.6M	424.4M	62M	4.3B	4.1B	4.1B	3.8B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	860M	875M	846M	851M	861M	714M	655M	674M	697M	675M	569M	611M
Receivables	618M	603M	576M	597M	609M	615M	639M	649M	611M	651M	775M	830M
Inventory	1B	991M	971M	938M	940M	893M	894M	918M	934M	921M	949M	1B
Total current assets	2.8B	2.7B	2.7B	2.6B	2.7B	2.5B	2.4B	2.5B	2.5B	2.5B	2.5B	2.8B
Property, plant & equipment	988M	674M	993M	988M	1B	687M	1B	1.1B	1B	701M	1.1B	1.1B
Goodwill & intangibles	10.3B	10.3B	10B	9.8B	10B	9.5B	9.5B	9.7B	9.5B	9.4B	9.3B	9.2B
Total assets	9.1B	9.1B	8.9B	8.9B	9B	8.6B	8.6B	8.8B	8.8B	8.8B	8.7B	8.9B
Accounts payable	309M	327M	290M	291M	306M	341M	323M	355M	382M	407M	448M	534M
Short-term debt	115M	123M	79M	87M	85M	81M	81M	82M	82M	51M	1.4B	1.4B
Total current liabilities	838M	848M	721M	740M	781M	775M	781M	832M	886M	927M	2.3B	2.4B
Long-term debt	5B	4.9B	4.9B	5B	5B	4.7B	4.6B	4.6B	4.5B	4.4B	2.9B	2.8B
Total liabilities	6.7B	6.6B	6.5B	6.6B	6.6B	6.3B	6.2B	6.3B	6.2B	6.1B	5.9B	6B
Shareholders' equity	2.5B	2.5B	2.4B	2.2B	2.4B	2.3B	2.4B	2.6B	2.6B	2.7B	2.8B	3B
Total debt	5.1B	5B	5B	5.1B	5.1B	4.8B	4.7B	4.7B	4.6B	4.4B	4.3B	4.2B
Net debt	4.3B	4.1B	4.1B	4.3B	4.2B	4.1B	4B	4B	3.9B	3.8B	3.7B	3.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	104.8M	339.1M	392.9M	140.4M	350M	551M	333M	-1.8B	190M	295M
Depreciation & amortization	65.9M	82.6M	79.8M	110M	99M	104M	216M	397M	348M	344M
Stock-based compensation	25.2M	24.4M	27.3M	49.2M	30M	37M	45M	54M	48M	55M
Change in working capital	-53.2M	-63.2M	-86.4M	-76.1M	-11M	-73M	-176M	-35M	-45M	-29M
Operating cash flow	128.5M	389.5M	401.5M	227.4M	467M	627M	483M	-1.6B	353M	645M
Capital expenditure	-19.1M	-31.3M	-62.9M	-63.9M	-85M	-87M	-155M	-84M	-117M	—
Investing cash flow	-727M	22.6M	72.7M	-947.2M	-202M	-205M	-4.6B	-84M	-117M	—
Dividends paid	-36.4M	-38.2M	-42.4M	-43.5M	-44M	-47M	-52M	-59M	-59M	-59M
Share repurchases	-1.5M	0	-75M	0	0	—	—	—	—	-45M
Financing cash flow	550.3M	-292.2M	-234.1M	1B	-185M	-75.2M	3B	-258M	-540M	-558M
Net change in cash	-48.2M	120M	240.1M	298.1M	80M	346.8M	-1.1B	-2B	-304M	87M
Free cash flow	161M	323.9M	350.9M	180.6M	428M	553M	365M	232M	410M	497M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	40M	-69M	15M	22M	62M	91M	52M	62M	74M	107M	84M	174M
Depreciation & amortization	93M	96M	88M	87M	87M	86M	85M	87M	86M	86M	85M	86M
Stock-based compensation	12M	11M	15M	11M	11M	11M	22M	12M	12M	9M	19M	15M
Change in working capital	51M	80M	-34M	3M	3M	15M	-39M	6M	32M	-28M	-76M	-71M
Operating cash flow	154M	68M	58M	74M	98M	155M	90M	165M	197M	142M	53M	243M
Capital expenditure	-16M	-34M	-18M	-26M	-22M	-51M	-18M	—	—	—	—	—
Investing cash flow	-16M	-34M	-18M	-26M	-22M	-51M	-18M	—	-1M	—	—	—
Dividends paid	-15M	-15M	-15M	-15M	-14M	-15M	-15M	-15M	-14M	-15M	-17M	-17M
Share repurchases	—	—	—	—	—	—	-45M	0	0	0	0	0
Financing cash flow	-37M	-147M	-63M	-85M	-143M	-249M	-175M	-129M	-127M	-127M	-121M	-122M
Net change in cash	101M	-113M	-23M	-37M	-67M	-145M	-103M	36M	69M	15M	-68M	121M
Free cash flow	142M	147M	49M	95M	141M	125M	123M	136M	146M	92M	28M	189M

MKS Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement