MKSI
MKS Inc.

MKS Inc.MKSI

Technology · Scientific & Technical Instruments
192.27USD
+8.74%
Nov 08, 2026
MKSI overview ready
Supplier of Vacuum, Gas Delivery, and Process Control Technologies to Semiconductor Fabrication
MKS is a direct semiconductor-manufacturing enabler supplying vacuum, gas-delivery and process-control technologies, RF power, photonics, optics, precision motion, and materials-processing systems used in wafer fabrication and advanced electronics and packaging production.
Theme not measured
Semiconductor Equipment Subsystems has no leadership state this session.
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Semiconductor industry cyclicality impacting demand.
Market Nov 6Filing Sep 30Price action Nov 7Research Oct 6

Conviction Level

Theme Momentum has no canonical measurement for this company — a research-profile dimension, not an input to this score.

PriceAction1.4BusinessPerformance9.0BusinessQuality6.3Valuation4.6ThemeMomentum—Accelerating — Revenue growth has accelerated across 4 consecutive quarters, rising from +11% to +43% year over year. Diluted EPS growth has strengthened to +196% year over year ($3.26), up from +19%. — Accelerating describes growth momentum measured in recent filed quarters. It is not proof that the acceleration will continue.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
Semiconductor Equipment Subsystems — Semiconductor Equipment Subsystems is tracked (3–4 priced members) — too few for a leadership state
Its economic family, Semiconductors, reads Lagging (−22.2pp vs SPY) — the family’s reading, not this theme’s.
Price
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Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$13.0B
Avg Volume (60D)
1.4M
60 sessions
Revenue Growth YoY
+9.6%
FY2025 vs FY2024
Gross Margin
+47.3%
Trailing twelve months
Operating Margin
+18.2%
Trailing twelve months
Free Cash Flow Yield
+4.2%
Distance from 200DMA
-30.7%
P/E
21.6x
EV / EBITDA
12.2x
EV / Sales
3.1x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Accelerating

Revenue growth has accelerated across 4 consecutive quarters, rising from +11% to +43% year over year. Diluted EPS growth has strengthened to +196% year over year ($3.26), up from +19%.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthAccelerating
+43%
$1.41B in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +11%
  2. +15%
  3. +28%
  4. +43%
Earnings growthAccelerating
+196%
Diluted EPS $3.26 vs $1.10 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +19%
  2. +53%
  3. +162%
  4. +196%
Operating marginExpanding
23.1%
+9.1 pp YoY · gross margin 47.7% (+1.0 pp)
The share count is rising

Business Quality

6.3 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Two of the three valuation perspectives say fair; intrinsic is the dissenting view.
MKS Inc. has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

What changed

  • MKSI rose 8.7% in one session
    MKSI closed +8.7% while the broad market was close to flat (+0.3%).
    2026-11-06

Company Research

Thesis
MKS is a direct semiconductor-manufacturing enabler supplying vacuum, gas-delivery and process-control technologies, RF power, photonics, optics, precision motion, and materials-processing systems used in wafer fabrication and advanced electronics and packaging production.
Opportunity
High opportunity
US semiconductor-capacity investment requiring process equipment, precision subsystems, and specialty manufacturing capability for increasingly complex leading-edge fabrication and advanced packaging.
Key risk
Semiconductor industry cyclicality impacting demand.

Economic classification

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Business & Markets

Technology · Scientific & Technical Instruments
What they do

MKS Inc. designs, manufactures, and supplies foundational technology solutions and precision subsystems used in semiconductor manufacturing, electronics packaging, and specialty industrial applications globally through its Vacuum Solutions, Photonics Solutions, and Material Solutions divisions.

How it earns

The company generates revenue primarily through transactional sales of equipment, subsystems, and related services to semiconductor and industrial customers.

Products & services
Vacuum solutions
Photonics and optics systems
Material processing systems
Pressure and flow measurement and control
Gas delivery and composition analysis
RF power and electronic control technologies
Customers & end markets
Semiconductor manufacturers
Advanced electronics and packaging producers
Specialty industrial manufacturers
Market position

Established supplier with a broad portfolio serving critical semiconductor manufacturing process needs, positioned as a key enabler rather than a commodity provider.

Demand drivers
High cyclicality

Demand is closely tied to semiconductor capital expenditure cycles and technology investment trends.

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