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VECO

VEECO INSTRUMENTS INC.
CIK 0000103145 ยท EDGAR โ†—
cleanelevatedtriggeredno dataplanned
78.3
composite ยท 5 signals ยท ELEVATED

Every card below shows the score and the exact filing data it was computed from โ€” no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded โ€” never a guess.

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Signals

P-05 ยท FY 2025-12-31 ยท ELEVATED97.9

Tax arbitrage

ETR 10.1% vs 21% statutory โ€” gap persistent across 2 of 2 years
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-02-25) โ†—
Evidence โ€” inputs and thresholds
{
  "etr_by_year": {
    "2025-12-31": 0.1015,
    "2024-12-31": -0.0709
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2025-12-31": 0.1085,
    "2024-12-31": 0.2809
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/103145/000110465926019711/0001104659-26-019711-index.htm",
    "form": "10-K",
    "filed": "2026-02-25"
  }
}
P-07 ยท FY 2015-09-30 ยท ELEVATED40.0

Pension underfunding

[FY2015 data, stale โ€” no more recent pension disclosure in XBRL] DB plan 80% funded โ€” -$0M deficit
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2016-02-25) โ†—
Evidence โ€” inputs and thresholds
{
  "benefit_obligation": 2000000,
  "plan_assets": 1600000,
  "funded_ratio": 0.8,
  "deficit": -400000,
  "deficit_vs_equity": null,
  "thresholds": {
    "elevated": "<90% funded",
    "triggered": "<80% funded or deficit >25% of equity"
  },
  "stale": true,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/103145/000110465916100036/0001104659-16-100036-index.htm",
    "form": "10-K",
    "filed": "2016-02-25"
  }
}
P-01 ยท FY 2025-12-31 ยท CLEAN31.7

Earnings quality

Beneish M-Score -2.39 โ€” no manipulation profile
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-02-25) โ†—
Evidence โ€” inputs and thresholds
{
  "m_score": -2.392,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 1.234,
    "GMI": 1.061,
    "AQI": 0.94,
    "SGI": 0.926,
    "DEPI": 1.163,
    "SGAI": 1.072,
    "LVGI": 0.863,
    "TATA": -0.026
  },
  "defaulted_to_neutral": [],
  "sloan_accruals": -0.0265,
  "inputs": {
    "revenue_t": 664294000,
    "revenue_t1": 717301000,
    "total_assets_t": 1325795000,
    "net_income_t": 35390000,
    "cfo_t": 69493000
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/103145/000110465926019711/0001104659-26-019711-index.htm",
    "form": "10-K",
    "filed": "2026-02-25"
  }
}
P-12 ยท FY 2025-12-31 ยท CLEAN17.0

Restatement predictor

F-Score 0.51 โ€” at or below the population base rate
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-02-25) โ†—
Evidence โ€” inputs and thresholds
{
  "f_score": 0.509,
  "probability": 0.00188,
  "components": {
    "rsst": -0.0265,
    "drec": 0.0107,
    "dinv": 0.0222,
    "soft": 0.7948,
    "dcs": -0.0932,
    "droa": -0.0322,
    "issue": 0
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/103145/000110465926019711/0001104659-26-019711-index.htm",
    "form": "10-K",
    "filed": "2026-02-25"
  }
}
P-13 ยท FY 2023-12-31 ยท CLEAN0.0

Zombie / distress

[FY2023 data, stale โ€” no more recent EBIT figure in XBRL] Interest coverage 5.94x โ€” servicing debt from operations
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-02-25) โ†—
Evidence โ€” inputs and thresholds
{
  "icr_by_year": {
    "2025-12-31": null,
    "2024-12-31": null,
    "2023-12-31": 5.942,
    "2022-12-31": 5.239
  },
  "consecutive_years_below_1": 0,
  "altman_z_double_prime": 2.845,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": 69940000,
    "interest_expense_t": 11770000
  },
  "stale": true,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/103145/000110465926019711/0001104659-26-019711-index.htm",
    "form": "10-K",
    "filed": "2026-02-25"
  }
}