What is the market's earnings forecast for MKS next quarter?

What is the revenue and EPS growth rate for MKS year over year?

What is MKS's gross profit margin?

What is MKS's latest dividend and current dividend yield?

What does MKS do and what are its main business segments?

What were the key takeaways from MKS's earnings call?

What factors drove the changes in MKS's revenue and profit?

Did MKS beat or miss consensus estimates last quarter?

- **Revenue Growth**: 10% YoY in 2025, driven by semiconductor (13% YoY) and AI-related PCB chemistries (11% YoY). Q4 2025 revenue $1.03B, above midpoint of guidance.
- **Profitability**: Gross margin 46.4% in Q4, despite tariffs. Free cash flow up 21% YoY to $497M.
- **AI Momentum**: Chemistry sales for AI doubled to 10% of total in 2025, offsetting smartphone/PC softness.
- **2026 Outlook**: Semiconductor revenue expected to rise sequentially; Q1 2026 gross margin dip (4-6%) due to seasonal factors, with rebound in Q2.
- **Debt Reduction**: $1B+ debt paid down since 2024, reducing annual interest expenses by $27M.
- **Capacity Expansion**: New Malaysia supercenter to add future capacity, supporting long-term WFE growth.

**【CEO Summary Section】**
- **2025 Performance Highlights**: Revenue grew 10% YoY, EPS up 20%, and free cash flow increased 21%. Semiconductor revenue outperformed WFE growth, driven by DRAM, logic foundry, and high-bandwidth memory applications.
- **Q4 2025 Results**: Revenue of $1.03B (10% YoY), with semiconductor revenue at $435M (9% YoY). Electronics & Packaging revenue grew 19% YoY, driven by flexible PCB drilling and AI-related PCB chemistries.
- **2026 Outlook**: Semiconductor revenue expected to rise sequentially, aligning with industry spending trends. New supercenter factory in Malaysia to enhance capacity and resilience.
- **AI Impact**: Chemistry sales for AI applications doubled to 10% of total in 2025, offsetting softness in smartphones and PCs.

**【CFO Financial Commentary】**
- **Q4 2025 Financials**: GAAP net income $168M ($2.47 EPS), gross margin 46.4%, and free cash flow $497M (21% YoY growth).
- **Debt Management**: $1B+ debt reduction since Feb 2024, including $100M prepayment in Feb 2026. Refinancing actions reduced annual interest expenses by $27M.
- **Q1 2026 Guidance**: Revenue $1.04B (±$40M), gross margin 4-6%, and EPS $2 (±$0.28). Sequential decline in chemistry sales due to Lunar New Year expected to reverse in Q2.

**【Q&A Key Highlights】**
- **Gross Margin Dynamics**: Q1 2026 gross margin dip (4-6%) due to lower chemistry sales; rebound expected in Q2. Long-term target >46% despite tariffs.
- **NAND Tool Upgrades**: MKS positioned to benefit from NAND equipment upgrades, with RF power products enabling upgrades akin to greenfield investments.
- **Consumer vs. AI Trends**: AI-driven PCB complexity (15-40 layers) offsets single-digit declines in smartphone/PC PCB layers (10-12 layers).
- **Capacity Readiness**: Factories fully ramped for 2026 WFE growth; Malaysia supercenter to add future capacity. No supply chain constraints anticipated.
- **Chemistry Equipment Pipeline**: Record bookings for 5th consecutive quarter; future chemistry revenue growth tied to 2021-2022 equipment shipments.


MKS Inc. (MKSI) Q4 2025 Earnings Call Transcript

- **Revenue Growth**: Q3 2025 revenue up 10% YoY to $988M, driven by semiconductor (10% YoY) and E&P (25% YoY) markets.
- **AI-Driven Expansion**: E&P chemistry equipment sales for advanced packaging expected to generate long-term chemistry revenue growth.
- **Financial Strength**: Q3 free cash flow of $147M, reducing net leverage to 3.9x; targeting 2.5x by 2027.
- **Semiconductor Outlook**: 2026 NAND upgrades and WFE recovery poised to drive double-digit semiconductor revenue growth.
- **Tariff Impact**: 50bps margin dilution from tariffs, offset by cost mitigation.
- **Debt Reduction**: $400M in voluntary debt prepayments YTD, with $100M Q3 contribution.


**【CEO Summary Section】**
- Q3 2025 revenue of $988 million, up 10% YoY, driven by strong demand in semiconductor and electronics & packaging (E&P) markets.
- Semiconductor revenue grew 10% YoY, despite a 4% sequential decline due to lower NAND upgrade activity. Q4 semiconductor revenue expected to remain flat sequentially.
- E&P revenue up 25% YoY, with chemistry equipment sales leading growth. Q4 E&P revenue expected to increase sequentially and grow double digits YoY.
- Specialty industrial market revenue stable, with sequential improvement in life sciences and defense.
- AI-driven demand for advanced packaging technologies, with high attach rates of chemistry to equipment sales.
- Voluntary debt prepayment of $100 million in Q3, reducing net leverage to 3.9x.

**【CFO Financial Commentary】**
- Q3 GAAP net income of $130 million ($1.93 EPS), above midpoint of guidance.
- Gross margin of 46.6%, stable sequentially despite tariff impacts.
- Operating expenses of $256 million, up 5% YoY due to variable costs tied to performance.
- Free cash flow of $147 million, 15% of revenue, with cumulative 2025 free cash flow of $405 million.
- Q4 guidance: Revenue $990 million ±$40M, gross margin 46% ±100bps, EPS $2.27 ±$0.34.
- Target to reduce net leverage to 2.5x by 2027 through debt repayments and cash flow generation.

**【Q&A Highlights】**
- **E&P Growth**: Equipment sales for AI-driven advanced packaging expected to drive long-term chemistry revenue. 2025 E&P revenue on track for ~20% YoY growth.
- **Semiconductor Trends**: NAND upgrade activity expected to resume in 2026, supporting double-digit YoY semiconductor growth. MKS outperforming WFE with broad subsystem portfolio.
- **Tariffs**: Mitigation actions offsetting $1M+ in tariffs, but 50bps margin dilution expected due to 0% markup on passed-through costs.
- **Geographic Shifts**: Onshoring of fabs in US, Europe, and Southeast Asia driving diversification of geographic demand.
- **Litho Metrology**: Investment in optics and metrology systems for advanced lithography, targeting $300M+ revenue by 2026.
- **Chemistry Flow-Through**: Equipment sales in 2025 poised for record year, with chemistry revenue growth lagging 6-12 months.


MKS Inc. (MKSI) Q3 2025 Earnings Call Transcript

- **Revenue Beats Guidance**: Q2 revenue of $973 million (+10% YoY) driven by 17% YoY semiconductor growth and 16% YoY E&P expansion. Services revenue growth highlights annuity-like stability.
- **Tariff Mitigation Progress**: Q2 tariff impact of 115 bps reduced to below 100 bps in Q3, with strategies limiting future drag.
- **AI-Driven Growth**: E&P revenue up double digits YoY in Q3, fueled by AI-related chemistry and equipment orders. Semiconductors expected to moderate sequentially but remain strong YoY.
- **Leverage Reduction**: $200 million debt prepayments in Q2, net leverage at 4x, supporting long-term capital allocation priorities.

**【Management Opening Remarks】**
- Paretosh Misra provided an overview of the Q2 2025 financial results, emphasizing strong revenue and profitability. He highlighted the company's focus on non-GAAP financial measures and reminded investors of forward-looking statements' risks.

**【CEO Commentary】**
- **Revenue Performance**: Q2 revenue of $973 million exceeded guidance, driven by 17% YoY growth in Semiconductors and 16% YoY growth in Electronics & Packaging (E&P). Services revenue grew due to higher-value solutions adoption.
- **Gross Margin Challenges**: Tariffs impacted gross margin by 115 bps, but mitigation strategies are in place. Q3 gross margin expected to improve slightly.
- **Market Outlook**: Semiconductors expected to moderate in Q3 due to NAND upgrade lumpiness, while E&P is projected to grow double digits YoY, supported by AI-related demand.

**【CFO Financial Commentary】**
- **Financial Highlights**: GAAP net income of $119 million ($1.77 EPS), free cash flow of $136 million (100% of net earnings). Q3 guidance includes revenue of $960 million, gross margin of 46.5%, and EPS of $1.80.
- **Liquidity & Debt**: $1.3 billion liquidity, $4.5 billion gross debt, and a net leverage ratio of 4x. $200 million debt prepayments made in Q2.
- **Cost Management**: Operating expenses controlled at $251 million, with OpEx discipline supporting margins.

**【Q&A Highlights】**
- **Semiconductor Growth**: Base WFE demand outperforming market, with NAND upgrades adding volatility. Q3 semiconductor revenue expected to moderate but remain strong YoY.
- **E&P Strength**: Chemistry and equipment sales driven by AI applications, with 4 consecutive quarters of strong orders. Q3 E&P revenue up double digits YoY.
- **Tariff Mitigation**: Short-term strategies implemented, but long-term impact uncertain. Q3 tariff impact expected below 100 bps.
- **Specialty Industrial**: Modest improvement in defense and life sciences, offsetting industrial softness. Q3 flat revenue outlook.
- **Competitive Position**: Unique portfolio of chemistry, equipment, and services enables MKS to capture AI-driven growth beyond traditional markets.

MKS Instruments, Inc. (MKSI) Q2 2025 Earnings Call Transcript

- **Q1 Strong Beat**: $936M revenue (+8% YoY), 47.4% gross margin, $1.71 EPS exceed all metrics. Semicon up 18%, E&P up 22% YoY.
- **Tariff Impact**: Q2 gross margin may dip 100 bps, but long-term >47% target intact. No top-line tariff effect yet.
- **Chemistry Momentum**: 8% YoY growth driven by AI packaging. Equipment bookings lead to future chem sales.
- **Debt Reduction**: $100M prepayment in Q1; free cash flow >100% of net income. Shares repurchased to offset dilution.
- **Semiconductor Recovery**: NAND upgrades and logic/foundry growth support 85% WFE content share.

**【CEO Summary Section】**
- Q1 2025 revenue of $936 million exceeded high-end guidance, driven by semiconductor and electronics & packaging (E&P) markets. Gross margin of 47.4% and EPS of $1.71 also beat expectations.
- Semiconductor revenue grew 18% YoY, led by NAND upgrades and RF power solutions. E&P revenue rose 22% YoY, driven by flexible PCB drilling and chemistry equipment sales.
- Tariffs may impact Q2 gross margin by up to 100 bps, but long-term gross margin target remains above 47%.
- Specialty industrial revenue was flat sequentially but down 13% YoY due to automotive and industrial softness.

**【CFO Financial Commentary】**
- Q1 GAAP net income: $116 million ($1.71 EPS). Non-GAAP adjusted EBITDA: $236 million (25.2% margin). Free cash flow: $123 million (13% of revenue).
- Q2 guidance: Revenue $925 million ±$40M, gross margin 46.5% ±100 bps, EPS $1.56 ±$0.28.
- Debt: $4.6 billion (4.2x net leverage). Share buybacks and debt prepayments to continue, with $0.5M shares repurchased in Q1.

**【Q&A Key Highlights】**
- **Tariff Mitigation**: Global supply chain flexibility and commercial actions to offset up to 100 bps margin impact. No top-line impact seen yet.
- **Chemistry Growth**: 8% YoY growth in Q1, driven by AI-driven HDI and MLB applications. Equipment bookings lead-time ~3 quarters for chemistry sales.
- **Debt Strategy**: Priority on deleveraging; $100M debt prepayment in Q1, with more to come. Free cash flow >100% of net income.
- **Semiconductor Outlook**: NAND upgrades and logic/foundry demand expected to continue. WFE market recovery supports long-term 85% addressable content share.
- **Specialty Industrial Risks**: Automotive and industrial weakness may persist, but life sciences and defense remain stable.

MKS Instruments, Inc. (MKSI) Q1 2025 Earnings Conference Call Transcript

- **Revenue beat by $200M**: Q3 $12.3B (+12% YoY), driven by 18% growth in enterprise software.
- **AI investment ramping up**: $1B+ R&D spend over 2 years to accelerate innovation.
- **Profitability improving**: Operating margin 22.5% (up 200bps YoY), EPS beat by 12%.
- **Cloud momentum strong**: ARR +22% YoY, 60%+ multi-year deals, retention >90%.
- **Q4 guide raised**: $12.8-13.0B (10-12% YoY), up from prior $12.5B.

**【CEO Opening Remarks】**
- Q3 revenue reached $12.3B, up 12% YoY, exceeding guidance by $200M.
- North America market recovery drove 18% YoY growth in enterprise software sales.
- Announced $1B+ AI R&D investment over next 24 months.

**【CFO Financial Highlights】**
- GAAP EPS of $1.25 vs. $1.10 consensus; Non-GAAP EPS $1.42 (+15% YoY).
- Operating margin expanded 200bps to 22.5% due to cloud subscription retention >90%.
- Free cash flow $3.2B, up 12% YoY; $15B+ buyback authorized.

**【Q&A Key Takeaways】**
- Customer retention rate stable at 98% despite macro uncertainty.
- Cloud ARR growth 22% YoY, with 60%+ of new deals signed multi-year.
- Expect Q4 revenue $12.8-13.0B (10-12% YoY), above prior $12.5B guide.


Actual											1.54	1.62	1.93	2.34	2.56	3.02	2.79	3.02	2.71	2.59	2.74	2	0.48	1.32	1.46	1.17	1.18	1.53	1.72	2.15	1.71	1.77	1.93	2.47
Forecast											1.2362	1.1837	1.7757	2.02	2.2098	2.9511	2.7656	2.8575	2.6011	2.3054	2.4	1.3369	-0.1796	1.1659	1.0221	0.8433	0.7483	1.0467	1.4472	1.955	1.4549	1.6384	1.8536	2.4559
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+24.58%	+36.86%	+8.69%	+15.84%	+15.85%	+2.33%	+0.88%	+5.69%	+4.19%	+12.34%	+14.17%	+49.60%	+367.26%	+13.22%	+42.84%	+38.74%	+57.69%	+46.17%	+18.85%	+9.97%	+17.53%	+8.03%	+4.12%	+0.57%

MKSI

MKSI fundamentals

MKSI Q4 2025 Earnings

Earnings Call

You can ask Aime

MKSI

MKSI fundamentals

MKSI Q4 2025 Earnings

Earnings Call

MKSI Earnings Call Summary for Q4/20258:30 AM on Feb 18, 2026

MKSI Earnings Call Summary for Q3/20258:30 AM on Nov 6, 2025

MKSI Earnings Call Summary for Q2/20258:30 AM on Aug 7, 2025

MKSI Earnings Call Summary for Q1/20258:30 AM on May 8, 2025

MKSI Earnings Call Summary for Q4/20248:30 AM on Feb 13, 2025

You can ask Aime