MKS INC

Listed Company

MKSICIK 0001049502NasdaqLarge AcceleratedIndustrial Instruments For Measurement, Display, And ControlMassachusettsFY ends Dec 31

Period

FY 2025

Revenue

$3.93B

Net Income

$295.00M

Total Assets

$8.80B

Equity

$2.72B

Shares Out

67.25M

Op. Cash Flow

$645.00M

Business

MKS INC provides foundational technology solutions that enable semiconductor manufacturing, electronics and packaging, and specialty industrial applications. It offers instruments, subsystems, process-control systems and specialty chemicals, including vacuum technologies, lasers and photonics, power delivery, sensors and plating equipment. The company is organized into three divisions—Vacuum Solutions, Photonics Solutions and Materials Solutions—with a Global Service business for installation, maintenance, repair and calibration. MKS sells worldwide through a direct sales organization, independent distributors and online channels, serving customers across Asia, Europe and the Americas.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net revenues	3,931	3,586	3,622	3,547	2,950
Cost of revenues	2,094	1,878	1,980	2,000	1,570
Gross profit	1,837	1,708	1,642	1,547	1,380
Research and development	299	271	288	241	200
Selling, general and administrative	724	674	675	488	385
Acquisition and integration costs	0	9	16	52	30
Restructuring and other	37	6	20	10	11
Fees and expenses related to amendments to the Term Loan Facility	2	5	2	—	—
Amortization of intangible assets	247	245	295	146	55
Goodwill and intangible asset impairments	0	0	1,902	0	0
Gain on sale of long-lived assets	0	0	−2	−7	0
Income (loss) from operations	528	498	−1,554	617	699
Interest income	−14	−21	−17	−4	0
Interest expense	212	284	356	177	25
Loss on extinguishment of debt	−10	−57	−8	0	0
Other expense (income), net	16	−2	27	11	9
Income (loss) before income taxes	304	180	−1,928	433	665
(Benefit) provision for income taxes	9	−10	−87	100	114
Net income (loss)	295	190	−1,841	333	551
Changes in value of financial instruments designated as cash flow hedges	−29	−1	−24	50	20
Foreign currency translation adjustments	237	−213	−83	18	−31
Change in net investment hedge	−63	36	−25	0	0
Unrecognized pension gain (loss)	10	3	−9	12	0
Unrealized gain (loss) on investments	0	23	−23	0	0
Total comprehensive income (loss)	450	38	−2,005	413	540
Basic (per share)	4.39	2.82	−27.54	5.57	9.95
Diluted (per share)	4.37	2.81	−27.54	5.56	9.9
Basic (shares)	67	67	67	60	55
Diluted (shares)	68	68	67	60	56

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	675	714	875	909	966
Trade accounts receivable, net of allowance for doubtful accounts of $5 at both December 31, 2025 and 2024	651	615	603	720	443
Inventories	921	893	991	977	577
Other current assets	263	252	227	187	85
Total current assets	2,510	2,474	2,696	2,794	2,147
Property, plant and equipment, net	810	771	784	800	326
Right-of-use assets	270	238	225	234	184
Goodwill	2,574	2,479	2,554	4,308	1,228
Intangible assets, net	2,140	2,272	2,619	3,173	576
Other assets	492	356	240	186	79
Total assets	8,796	8,590	9,118	11,495	4,540
Short-term debt	51	50	93	93	9
Accounts payable	407	341	327	426	168
Other current liabilities	469	384	428	433	71
Total current liabilities	927	775	848	952	460
Long-term debt, net	4,150	4,488	4,696	4,834	808
Non-current deferred taxes	474	504	640	783	99
Non-current accrued compensation	149	141	151	138	49
Non-current lease liabilities	246	211	205	215	193
Other non-current liabilities	131	149	106	90	44
Total liabilities	6,077	6,268	6,646	7,012	1,653
Commitments and contingencies (Note 22)	—	—	—	—	—
Preferred stock, $0.01 par value, 2 shares authorized; no shares issued and outstanding	—	—	—	—	—
Common stock, no par value, 200 shares authorized; 67.2 and 67.4 shares issued and outstanding at December 31, 2025 and 2024, respectively	0	0	0	0	0
Additional paid-in capital	2,101	2,067	2,195	2,142	907
Retained earnings	711	503	373	2,272	1,991
Accumulated other comprehensive loss	−93	−248	−96	69	−11
Total stockholders equity	2,719	2,322	2,472	4,483	2,887
Total liabilities and stockholders' equity	8,796	8,590	9,118	11,495	4,540

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income (loss)	295	190	−1,841	333	551
Depreciation and amortization	344	348	397	216	104
Unrealized (gain) loss on foreign currency and derivative instruments	−9	13	32	13	−4
Amortization of debt issuance costs and original issue discount	26	30	33	56	2
Stock-based compensation	55	48	54	45	37
Provision for excess and obsolete inventory	45	56	64	21	16
Deferred income taxes	−196	−226	−234	−46	2
Other	0	8	5	3	4
Trade accounts receivable	−16	−36	114	−4	−53
Inventories	−50	20	−76	−236	−92
Other current and non-current assets	14	25	50	28	0
Accounts payable	55	21	−99	61	56
Current and non-current accrued compensation	83	−32	−5	−31	17
Income taxes payable	21	49	−64	19	1
Other current and non-current liabilities	−32	−43	−19	6	−1
Net cash provided by operating activities	645	528	319	529	640
Proceeds from sale of long-lived assets	3	1	3	9	0
Purchases of property, plant and equipment	−148	−118	−87	−164	−87
Net cash used in investing activities	−145	−117	−84	−4,552	−205
Repurchase of common stock	−45	0	0	—	—
Proceeds from borrowing	0	2,161	216	5,237	1
Payments of borrowings	−451	−2,427	−403	−962	−15
Purchase of capped calls related to Convertible Notes	0	−167	0	0	—
Payments of deferred financing fees	0	−33	−9	−249	0
Dividend payments	−59	−59	−59	−52	−47
Net payments related to employee stock awards	−4	−9	−1	−1	−4
Other financing activities	−3	−15	−3	−2	0
Net cash used in financing activities	−562	−549	−259	3,971	−65
Effect of exchange rate changes on cash and cash equivalents	23	−23	−10	−5	−12
Decrease in cash and cash equivalents	−39	−161	−34	−57	358
Interest	190	268	305	110	23
Right of use assets obtained in exchange for new finance lease liabilities	46	12	1	—	—

Filings

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