MKS Instruments (MKSI) · wyniki II kw. 2026 i wycena

Przy wzroście 3,5% rocznie (3-letni wzrost przychodów) wartość godziwa z modelu to $20.65 na akcję — kurs jest o 852% powyżej niej. Obecna cena zakłada wzrost o 16,7% rocznie.

1. Główny temat

   The company is doubling capacity at the Guangzhou factory to increase future market share, though the new equipment results in lower gross margins.

   Cytat ze źródła

   “We've talked in the past about what happens if the current Guangzhou factory is full, and that was to use... ...prepared remarks, we talked about the Guangzhou factory, doubling capacity there. To the earlier question, that is great for market share of chemistry in the future, and the equipment does have lower gross margin.”

2. Prognoza

   MKSI expects Q3 Electronics and Packaging revenue to increase over 30% year-over-year because AI-related investment will partially offset flex equipment-related seasonality.

   Cytat ze źródła

   “In Q3, we expect Electronics and Packaging revenue to be up over 30% year-over-year with AI-related investment partially offset by flex equipment-related seasonality.”

3. Prognoza

   The company expects investments in CapEx and working capital to increase through the remainder of the year to prioritize organic growth.

   Cytat ze źródła

   “We expect investments in CapEx and working capital to increase through the remainder of the year as we continue to prioritize our organic growth.”

Management sounded noticeably less positive answering analysts than in its prepared script — a bigger drop than in 90% of calls. Scripts are polished in advance; a drop under questioning often marks the topics analysts pressed on, so the answers deserve a closer read than the script.

Zdania, które wpłynęły na ton

“We also continue to achieve design wins, including in advanced logic, where we are the process tool of record for dissolved gas applications and in RF power, where we have...”

“We expect revenue of $1.35 billion, plus or minus $40 million, which represents continued strong sequential improvement and further acceleration in year-over-year growth.”

“We remain focused on driving profitable growth with disciplined execution and continue to make the investments needed to capitalize on the growth opportunities that we see ahead.”