MKS Inc. (MKSI)
OvervaluedFundamental
70
Price
$265.36
Market Cap
$17.94B
Part 1 · What the company is worth
Overview
MKS Inc. provides foundational technology solutions to semiconductor manufacturing, electronics and packaging, and specialty industrial applications in the United States, China, South Korea, Japan, Taiwan, Singapore, and internationally. The company operates through Vacuum Solutions Division (VSD), Photonics Solutions Division (PSD), and Material Solutions Division (MSD) segments. Its VSD segment provides foundational technology solutions, including pressure measurement and control, flow measurement and control, gas and vapor delivery, gas composition analysis, electronic control technology, reactive gas generation and delivery, power generation and delivery, and fiber optic temperature and position sensing. The PSD segment offers range of solutions, which include lasers, photonics, optics, precision motion control, and vibration control. Its MSD segment develops, process, and manufactures technologies comprising advanced surface modification, electroless and electrolytic plating, and surface finishing for chemistry, equipment, and services markets, as well as high-technology applications. In addition, the company sells its products and services through direct sales, network of independent distributors, and sales representatives, as well as websites, including product catalogs. MKS Inc. was formerly known as MKS Instruments, Inc. and changed its name to MKS Inc. in May 2025. The company was incorporated in 1961 and is based in Andover, Massachusetts.
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Direct competitors
Who this company fights with for the same customers
Generated on September 19, 2026 with claude-haiku-4-5 — shared with all users
The closest peer on MKS's core semiconductor business, selling RF and DC plasma power supplies, matching networks, reactive gas and sensing subsystems to the same chip-equipment makers such as Applied Materials and Lam Research.
Competes head-on in industrial and scientific lasers, optics and photonics, chasing the same micro-machining, instrumentation and research customers MKS serves with Spectra-Physics, Newport and Ophir.
Direct rival of MKS's Atotech business in electroless and electrolytic plating chemistries and surface finishing for printed circuit boards, package substrates and general metal finishing.
Named by MKS as its rival in pressure and vacuum measurement and control, selling gauges, residual gas analysers and leak detection to the same fab and vacuum-process customers.
Its HORIBA STEC arm competes in mass flow controllers and gas delivery for semiconductor process tools, the same materials-delivery sockets MKS supplies.
The reference supplier of high-vacuum valves and gas-flow control for chip and display equipment, bidding for the same vacuum subsystem content inside a process tool.
Balance Sheet & Liquidity
Revenue
$4.35B
Trailing 12 months (through 6/30/2026)
Net Income
$440M
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$497M
Total Equity
$2.72B
Total Liabilities
$6.08B
Current Ratio
1.14
Interest Coverage
3.65
Debt/EBITDA
4.52
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$184.85
Current Price
$265.36
Margin of Safety
-43.6%
Fair Value Range
$120.15 - $249.55
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
42.32
ROE
10.8%
P/B Ratio
6.01
P/FCF
39.44
Gross Margin
47.0%
ROIC
8.3%
Profitability Radar
Value Creation (Economic Moat)
ROIC
8.3%
WACC
13.9%
ROIC − WACC
-5.6 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Fundamental Analysis Criteria
Passed (20)
- EPS shows upward trend
- EPS CAGR 12.50%
- Price CAGR 16.03%
- ROIC 8.3%
- Gross Margin 47.0%
- Debt/Equity ratio
- Operating Margin 15.7%
- Positive Free Cash Flow
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- ROE 15.8%
- Revenue Growth 5Y 11.0%
- Analyst Consensus 85% Buy
- Earnings Surprise avg 5.1%
- Earnings Quality (OCF/NI) 1.44
- Share Dilution -0.2%
- Net Margin Trend 10.1% vs 7.1%
- Piotroski F-Score 7/9
Failed (6)
- P/FCF 39.44
- P/B Ratio 6.01
- CapEx intensity
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
Unavailable (2)
- Dividend Payout NaN%
- PEG Ratio (need PE > 0 and growth > 0)
Piotroski F-Score
Strong financial health
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Dr. John T. C. Lee Ph.D. | President, CEO & Director | 62 |
| Mr. Ramakumar Mayampurath | Executive VP & CFO | 61 |
| Mr. James Alan Schreiner | Executive VP & COO | 63 |
| Mr. David Philip Henry | EVP, Global Strategic Marketing & GM of Materials Solutions Division | 53 |
| Ms. Michelle M. McCarthy | VP & Chief Accounting Officer | 44 |
| Ms. Madhuri A. Andrews | Executive VP & Chief Information Officer | 58 |
| Dr. Paretosh Misra C.F.A., Ph.D. | Vice President of Investor Relations | - |
| Ms. Renee M. Donlan | Executive VP, General Counsel & Chief Compliance Officer | - |
| Ms. Sally Ann Bouley | Executive VP & Chief Human Resources Officer | - |
| Mr. Eric Robert Taranto | Executive VP & GM of Vacuum Solutions Division | 57 |
Audit Risk
1
Board Risk
4
Compensation Risk
3
Shareholder Rights Risk
5
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-24
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-08-06
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-08-05
via SEC EDGAR
Income History
via SEC EDGAR
Latest News
Recent headlines for MKSI, sourced from Markets Gazette.