MKS Instruments, Inc. (MKSI) Key Metrics
MKSI valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $14.53B
- Enterprise value
- $21.18B
- P/E (TTM)
- 34.2 10-yr median 23.8
- Forward P/E
- 10.4
- PEG ratio
- 1.32
- Price / sales
- 3.3 10-yr median 2.6
- Price / book
- 5.9 10-yr median 3.0
- EV / EBITDA
- 20.7 10-yr median 12.8
- Dividend yield
- 0.47% $1.00 a year
- Beta
- 2.02
MKSI key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsMKSI valuation Price multiples at each fiscal year-end price.
MKSI returns How much profit the business earns on the capital it uses.
MKSI per-share figures Results divided by the shares outstanding at year-end.
MKSI financial health Debt, liquidity and how easily interest is covered.
MKSI efficiency & capital use Working capital cycle and where the cash goes.
MKSI valuation history
MKSI returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MKSI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MKSI cash returned to shareholders
MKSI price vs earnings per share
MKSI key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $10.82B | $7.06B | $6.87B | $5.08B | $9.70B | $8.32B | $6.06B | $3.55B | $5.20B | $3.21B |
| Enterprise value | $14.84B | $11.12B | $11.02B | $9.33B | $9.69B | $8.52B | $6.49B | $3.18B | $5.05B | $3.40B |
| P/E ratio | 36.7 | 37.1 | — | 15.2 | 17.6 | 23.8 | 43.2 | 9.0 | 15.3 | 30.6 |
| Price / sales | 2.8 | 2.0 | 1.9 | 1.4 | 3.3 | 3.6 | 3.2 | 1.7 | 2.7 | 2.5 |
| Price / book | 4.0 | 3.0 | 2.8 | 1.1 | 3.4 | 3.5 | 3.0 | 1.9 | 3.3 | 2.6 |
| Price / free cash flow | 21.8 | 17.2 | 29.6 | 13.9 | 17.5 | 19.4 | 33.6 | 10.1 | 16.1 | 19.9 |
| Price / operating cash flow | 16.8 | 13.4 | 21.5 | 9.6 | 15.2 | 16.2 | 24.8 | 8.6 | 14.7 | 17.8 |
| EV / sales | 3.8 | 3.1 | 3.0 | 2.6 | 3.3 | 3.7 | 3.4 | 1.5 | 2.6 | 2.6 |
| EV / EBITDA | 17.3 | 12.8 | — | 11.2 | 12.2 | 15.5 | 19.5 | 5.5 | 9.0 | 15.2 |
| EV / free cash flow | 29.9 | 27.1 | 47.5 | 25.6 | 17.5 | 19.9 | 35.9 | 9.1 | 15.6 | 21.2 |
| Earnings yield | 2.7% | 2.7% | −26.8% | 6.6% | 5.7% | 4.2% | 2.3% | 11.1% | 6.5% | 3.3% |
| Free cash flow yield | 4.6% | 5.8% | 3.4% | 7.2% | 5.7% | 5.1% | 3.0% | 9.9% | 6.2% | 5.0% |
| Dividend yield | 0.5% | 0.8% | 0.9% | 1.0% | 0.5% | 0.5% | 0.7% | 1.2% | 0.7% | 1.1% |
| Shareholder yield (dividends + buybacks) | 1.0% | 0.8% | 0.9% | 1.0% | 0.5% | 0.5% | 0.7% | 3.3% | 0.7% | 1.2% |
| Share price at fiscal year-end | $159.80 | $104.39 | $102.87 | $84.73 | $174.17 | $150.45 | $110.01 | $64.61 | $94.50 | $59.40 |
| Per share | ||||||||||
| Revenue per share | $58.06 | $53.05 | $54.22 | $59.22 | $52.96 | $42.13 | $34.47 | $37.73 | $34.79 | $23.97 |
| Earnings per share | $4.36 | $2.81 | −$27.56 | $5.56 | $9.89 | $6.33 | $2.55 | $7.14 | $6.16 | $1.94 |
| Operating cash flow per share | $9.53 | $7.81 | $4.78 | $8.83 | $11.48 | $9.28 | $4.44 | $7.52 | $6.45 | $3.33 |
| Free cash flow per share | $7.34 | $6.07 | $3.47 | $6.09 | $9.92 | $7.75 | $3.28 | $6.38 | $5.88 | $2.98 |
| Cash per share | $9.97 | $10.56 | $13.10 | $15.19 | $18.71 | $15.12 | $9.51 | $13.06 | $9.87 | $7.74 |
| Book value per share | $40.16 | $34.35 | $37.01 | $74.84 | $51.83 | $42.69 | $36.71 | $34.06 | $28.85 | $22.97 |
| Tangible book value per share | −$29.47 | −$35.93 | −$40.43 | −$50.05 | $19.44 | $14.15 | $7.26 | $17.57 | $11.47 | $4.54 |
| Dividends per share | $0.87 | $0.87 | $0.88 | $0.87 | $0.85 | $0.80 | $0.79 | $0.77 | $0.69 | $0.67 |
| Capex per share | $2.19 | $1.75 | $1.30 | $2.74 | $1.56 | $1.54 | $1.16 | $1.14 | $0.57 | $0.35 |
| Debt per share | $69.32 | $70.71 | $75.21 | $86.28 | $18.46 | $18.67 | $17.22 | $6.33 | $7.14 | $11.33 |
| Shares outstanding | 67.7M | 67.6M | 66.8M | 59.9M | 55.7M | 55.3M | 55.1M | 55.0M | 55.1M | 54.1M |
| Change in shares outstanding | +0.1% | +1.2% | +11.5% | +7.5% | +0.7% | +0.3% | +0.2% | −0.1% | +1.9% | +0.9% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 11.7% | 7.9% | −52.9% | 9.0% | 21.0% | 16.0% | 7.2% | 22.7% | 24.0% | 8.7% |
| Return on invested capital (ROIC) | 8.4% | 7.7% | −16.0% | 8.2% | 21.3% | 15.0% | 8.8% | 27.4% | 21.4% | 13.1% |
| Return on assets (ROA) | 3.4% | 2.1% | −17.9% | 4.2% | 13.1% | 9.6% | 4.7% | 15.6% | 14.7% | 6.0% |
| Return on tangible assets | 7.2% | 4.9% | −46.7% | 8.3% | 20.1% | 15.1% | 7.8% | 23.0% | 23.3% | 8.6% |
| Free cash flow margin | 12.6% | 11.4% | 6.4% | 10.3% | 18.7% | 18.4% | 9.5% | 16.9% | 16.9% | 12.4% |
| Income quality (OCF / net income) | 2.19 | 2.78 | — | 1.59 | 1.16 | 1.47 | 1.74 | 1.05 | 1.05 | 1.72 |
| Financial health | ||||||||||
| Total debt | $4.69B | $4.78B | $5.02B | $5.17B | $1.03B | $1.03B | $949.2M | $347.8M | $393.0M | $612.2M |
| Cash & short-term investments | $675.0M | $714.0M | $875.0M | $910.0M | $1.04B | $836.0M | $524.0M | $718.2M | $543.3M | $418.1M |
| Net debt | $4.02B | $4.07B | $4.15B | $4.26B | −$14.0M | $196.7M | $425.2M | −$370.3M | −$150.4M | $194.1M |
| Debt / equity | 1.73 | 2.06 | 2.03 | 1.15 | 0.36 | 0.44 | 0.47 | 0.19 | 0.25 | 0.49 |
| Debt / assets | 0.53 | 0.56 | 0.55 | 0.45 | 0.23 | 0.26 | 0.28 | 0.13 | 0.16 | 0.28 |
| Net debt / EBITDA | 4.67 | 4.67 | — | 5.12 | −0.02 | 0.36 | 1.28 | −0.64 | −0.27 | 0.86 |
| Current ratio | 2.71 | 3.19 | 3.18 | 2.93 | 4.67 | 4.83 | 4.51 | 5.56 | 4.27 | 4.21 |
| Quick ratio | 1.71 | 2.04 | 2.01 | 1.91 | 3.41 | 3.48 | 3.06 | 4.10 | 3.10 | 3.05 |
| Interest coverage | 2.7 | 1.4 | -4.4 | 3.5 | 28.0 | 15.7 | 4.3 | 28.5 | 12.9 | 5.1 |
| Working capital | $1.58B | $1.70B | $1.85B | $1.84B | $1.69B | $1.43B | $1.12B | $1.20B | $946.4M | $761.5M |
| Invested capital | $6.74B | $6.39B | $6.62B | $8.74B | $2.87B | $2.56B | $2.45B | $1.50B | $1.44B | $1.44B |
| Tangible asset value | −$2.00B | −$2.43B | −$2.70B | −$3.00B | $1.08B | $782.3M | $400.2M | $966.4M | $631.5M | $245.2M |
| Net current asset value | −$3.57B | −$3.79B | −$3.95B | −$4.22B | $494.0M | $261.5M | $40.5M | $723.0M | $411.1M | $28.3M |
| Graham number | $62.75 | $46.61 | — | $96.75 | $107.41 | $77.97 | $45.87 | $74.00 | $63.22 | $31.66 |
| Graham net-net per share | −$65.78 | −$68.73 | −$72.20 | −$84.70 | $0.18 | −$2.92 | −$6.93 | $7.11 | $2.05 | −$4.22 |
| Capital allocation | ||||||||||
| Dividends paid | $59.0M | $59.0M | $59.0M | $52.0M | $47.6M | $44.0M | $43.5M | $42.4M | $38.2M | $36.4M |
| Share buybacks (net) | $45.0M | $0 | $0 | — | — | $0 | $0 | $75.0M | $0 | $1.5M |
| Dividend payout ratio | 20.0% | 31.1% | — | 15.6% | 8.6% | 12.6% | 31.0% | 10.8% | 11.3% | 34.7% |
| Dividends + buybacks / free cash flow | 20.9% | 14.4% | 25.4% | 14.2% | 8.6% | 10.3% | 24.1% | 33.5% | 11.8% | 23.5% |
| Capex / revenue | 3.8% | 3.3% | 2.4% | 4.6% | 2.9% | 3.6% | 3.4% | 3.0% | 1.6% | 1.5% |
| Capex / operating cash flow | 22.9% | 22.3% | 27.3% | 31.0% | 13.6% | 16.5% | 26.1% | 15.2% | 8.8% | 10.6% |
| Capex / depreciation | 0.43 | 0.34 | 0.22 | 0.76 | 0.83 | 0.86 | 0.58 | 0.79 | 0.38 | 0.29 |
| Stock-based compensation / revenue | 1.4% | 1.3% | 1.5% | 1.3% | 1.2% | 1.3% | 2.6% | 1.3% | 1.3% | 1.9% |
| R&D / revenue | 7.6% | 7.6% | 8.0% | 6.8% | 6.8% | 7.4% | 8.6% | 6.5% | 6.9% | 8.5% |
| SG&A / revenue | 18.4% | 18.8% | 18.9% | 13.8% | 13.1% | 15.2% | 17.4% | 14.4% | 15.2% | 17.7% |
| Efficiency | ||||||||||
| Days sales outstanding | 58.8 | 62.0 | 66.7 | 59.8 | 51.7 | 57.5 | 61.1 | 52.4 | 52.3 | 49.4 |
| Days of inventory on hand | 141.4 | 183.1 | 181.4 | 141.8 | 125.4 | 137.3 | 144.5 | 120.6 | 109.5 | 107.2 |
| Days payables outstanding | 58.3 | 64.9 | 69.4 | 54.2 | 32.4 | 28.4 | 29.4 | 27.7 | 27.1 | 23.1 |
| Cash conversion cycle (days) | 141.9 | 180.2 | 178.7 | 147.4 | 144.7 | 166.4 | 176.3 | 145.2 | 134.8 | 133.4 |
| Receivables turnover | 6.21 | 5.89 | 5.48 | 6.10 | 7.06 | 6.35 | 5.97 | 6.97 | 6.98 | 7.39 |
| Payables turnover | 6.26 | 5.62 | 5.26 | 6.73 | 11.27 | 12.87 | 12.42 | 13.17 | 13.49 | 15.78 |
| Inventory turnover | 2.58 | 1.99 | 2.01 | 2.57 | 2.91 | 2.66 | 2.53 | 3.03 | 3.33 | 3.41 |
| Asset turnover | 0.45 | 0.41 | 0.35 | 0.44 | 0.70 | 0.64 | 0.63 | 0.83 | 0.83 | 0.74 |
| Average receivables | $633.0M | $609.0M | $661.5M | $581.5M | $417.9M | $366.9M | $318.3M | $297.9M | $274.5M | $175.3M |
| Average payables | $374.0M | $334.0M | $376.5M | $297.0M | $139.3M | $99.5M | $86.1M | $83.2M | $75.9M | $46.3M |
| Average inventory | $907.0M | $942.0M | $984.0M | $777.0M | $539.2M | $481.8M | $423.4M | $361.9M | $307.5M | $214.2M |
| Intangibles / total assets | 53.6% | 55.3% | 56.7% | 65.1% | 39.7% | 40.4% | 47.5% | 34.7% | 39.7% | 45.0% |
Computed from MKSI's annual financial statements (latest annual report filed February 24, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MKSI valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), MKS Instruments traded at 36.7 times earnings, against a 10-year median of 23.8. Based on the latest twelve months, the trailing P/E is 34.2 and the forward P/E is 10.4. MKS Instruments earned a return on equity of 11.7% and a return on invested capital of 8.4% in fiscal 2025. It ended the year with $4.7 billion of debt and $675.0 million in cash and short-term investments, net debt of $4.0 billion. It returned $104.0 million to shareholders: $59.0 million in dividends and $45.0 million in share buybacks, 21% of free cash flow. The share count rose 25.3% from 54.1M to 67.7M over 9 years.
See the MKSI income statement, the MKSI chart for price history, or the MKSI stock overview for the latest quote and news.
MKSI key metrics FAQ
What is MKS Instruments's P/E ratio?
MKS Instruments's trailing P/E ratio is 34.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 10.4. At the end of fiscal 2025 it was 36.7, compared with a 10-year median of 23.8.
What is MKS Instruments's EV/EBITDA?
MKS Instruments's enterprise value was 17.3 times EBITDA at the end of fiscal 2025 (enterprise value $14.8 billion, EBITDA $860.0 million); the current EV/EBITDA is 20.7.
What is MKS Instruments's return on equity?
MKS Instruments's return on equity (ROE) was 11.7% in fiscal 2025: net income of $295.0 million on average shareholders' equity of $2.5 billion.
What is MKS Instruments's ROIC?
MKS Instruments's return on invested capital was 8.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does MKS Instruments have?
MKS Instruments had total debt of $4.7 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.73 and $4.0 billion of net debt (4.67 times EBITDA).
What is MKS Instruments's dividend yield?
MKS Instruments's forward dividend yield is 0.47%. MKS Instruments paid $59.0 million in dividends in fiscal 2025 ($0.87 per share), a payout ratio of 20.0%.
Does MKS Instruments buy back its shares?
Yes. MKS Instruments spent $45.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +0.1% over the year, to 67.7M..
What is MKS Instruments's free cash flow yield?
MKS Instruments generated $497.0 million of free cash flow in fiscal 2025, a free cash flow yield of 4.6% on its market value at year-end ($10.8 billion).
What is MKS Instruments's current ratio?
MKS Instruments's current ratio was 2.71 at the end of fiscal 2025: current assets were 2.71 times current liabilities.