Is the business good?
How good a business is MKSI?
MKS Inc. earns 8.3% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
8.3%
Return on invested capital · cost of capital 9.0% · 0.69 points below what the capital costs: growth destroys value
- Operating margin
- 16%
Operating margin · Scientific & Technical Instruments median 17% · 12 months to Q2 2026
- Cash conversion
- 1.03×
Cash conversion · 1.97× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- +7.9%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | 19% |
| FY2021 | 24% |
| FY2022 | 17% |
| FY2023 | −43% |
| FY2024 | 14% |
| FY2025 | 13% |
Details›
- Gross margin12 months to Q2 2026
- 47%
- Operating margin12 months to Q2 2026
- 16%
- Net margin12 months to Q2 2026
- 10%
- Free cash flow margin
- 10%
- R&D as % of revenue
- 7.1%
- Revenue, trailing twelve months
- $4.35B
- Free cash flow, trailing twelve months
- $455M
- Net income, trailing twelve months
- $440M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 8.3%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Scientific & Technical Instruments
Ranks #12 of 16 by Smart Score