MKS Instruments (MKSI) financial statements

Technology · Scientific & Technical Instruments · Market cap $17.6B

MKS Instruments reported revenue of $3.9B in fiscal 2025, up 13.1% a year over 9 years.

Net income was $295M and the operating margin 13.4%, against 12.1% in 2016.

Free cash flow was $497M, and the company returned $59M in dividends and $45M in net buybacks.

The diluted share count rose 25% over the period (dilution).

Revenue and free cash flow

Fiscal years, $ billions.

012342016201720182019202020212022202320242025RevenueFree cash flow
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Income statement

Fiscal years, from MKS Instruments's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Revenue$1.3B$1.9B$2.1B$1.9B$2.3B$3.0B$3.5B$3.6B$3.6B$3.9B
Cost of revenue$730M$1.0B$1.1B$1.1B$1.3B$1.6B$2.0B$2.0B$1.9B$2.1B
Gross profit$566M$891M$980M$830M$1.0B$1.4B$1.5B$1.6B$1.7B$1.8B
Research and development$111M$133M$136M$164M$173M$200M$241M$288M$271M$299M
Selling, general and admin$228M$290M$298M$330M$353M$385M$488M$675M$674M$724M
Operating income$157M$407M$494M$220M$454M$699M$617M-$1.6B$498M$528M
Interest expense$31M$31M$17M$44M$29M$25M$177M$356M$284M$212M
Pre-tax income$128M$448M$481M$178M$423M$665M$433M-$1.9B$180M$304M
Income tax$23M$108M$88M$37M$73M$114M$100M-$87M-$10M$9M
Net income$105M$339M$393M$140M$350M$551M$333M-$1.8B$190M$295M
EPS (diluted)$1.94$6.16$7.14$2.55$6.33$9.90$5.56-$27.54$2.81$4.37
Diluted shares54M55M55M55M55M56M60M67M68M68M
Gross margin43.7%46.5%47.2%43.7%45.0%46.8%43.6%45.3%47.6%46.7%
Operating margin12.1%21.2%23.8%11.6%19.5%23.7%17.4%-42.9%13.9%13.4%
Net margin8.1%17.7%18.9%7.4%15.0%18.7%9.4%-50.8%5.3%7.5%

Balance sheet

Fiscal years, from MKS Instruments's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Cash and short-term investments$418M$543M$718M$524M$836M$1.0B$910M$875M$714M$675M
Receivables$249M$300M$295M$341M$393M$443M$720M$603M$615M$651M
Inventory$276M$339M$385M$462M$501M$577M$977M$991M$893M$921M
Total current assets$999M$1.2B$1.5B$1.4B$1.8B$2.1B$2.8B$2.7B$2.5B$2.5B
Property, plant and equipment$175M$172M$194M$242M$284M$326M$800M$784M$771M$810M
Goodwill$589M$591M$587M$1.1B$1.1B$1.2B$4.3B$2.6B$2.5B$2.6B
Total assets$2.2B$2.4B$2.6B$3.4B$3.9B$4.5B$11.5B$9.1B$8.6B$8.8B
Total current liabilities$237M$290M$263M$318M$374M$460M$952M$848M$775M$927M
Long-term debt—————$825M$5.1B$5.0B——
Total liabilities$970M$825M$741M$1.4B$1.5B$1.7B$7.0B$6.6B$6.3B$6.1B
Shareholders' equity$1.2B$1.6B$1.9B$2.0B$2.4B$2.9B$4.5B$2.5B$2.3B$2.7B
Net debt-$218M-$331M-$644M-$415M-$608M-$141M$4.2B$4.1B-$714M-$675M

Cash flow

Fiscal years, from MKS Instruments's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Operating cash flow$180M$355M$414M$244M$513M$640M$529M$319M$528M$645M
Capital spending$19M$31M$63M$64M$85M$87M$164M$87M$118M$148M
Free cash flow$161M$324M$351M$181M$428M$553M$365M$232M$410M$497M
Stock-based compensation$25M$24M$27M$49M$30M$37M$45M$54M$48M$55M
Dividends paid$36M$38M$42M$44M$44M$47M$52M$59M$59M$59M
Share buybacks (net)-$2M—-$75M————$0$0-$45M
Net borrowing$591M-$228M-$50M-$106M-$59M-$15M-$962M-$403M-$2.4B-$451M
Free cash flow margin12.4%16.9%16.9%9.5%18.4%18.7%10.3%6.4%11.4%12.6%
Dividends per share$0.67$0.69$0.77$0.79$0.80$0.84$0.87$0.88$0.87$0.87
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Questions

What was MKS Instruments's revenue in 2025?

$3.9B in fiscal 2025, from its 10-K filing.

How much free cash flow does MKS Instruments generate?

$497M in fiscal 2025 (operating cash flow minus capital spending).

From MKS Instruments's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.