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DCF Valuation
Base-case fair value
$16.10
Intrinsic $21.47 · 25% MOS
Current price: $58.45
Base-case summary
Our base-case DCF for Veeco Instruments Inc (VECO) projects 10 years of free cash flow growth at 9.6% for years 1–5 and 4.8% for years 6–10, anchored to 9.6% historical FCF growth, then applies a 2.5% perpetual growth rate and a 8.0% discount rate. Starting from $43M in trailing free cash flow, this produces an intrinsic value of $21.47 per share. A 25% safety margin gives a fair value of $16.10, suggesting the stock is currently 72% overvalued against the $58.45 market price.
See 3 scenarios side by side
Conservative, Base, and Optimistic fair values, plus the sensitivity matrix and FCF history. Free account.
Model inputs
TTM Free Cash Flow
$43M
Cash & equivalents
$383M
Total debt
$261M
Shares outstanding
60M