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Azenta vs Veeco Instruments: revenue, profit, margins and growth compared

Azenta brought in $593.8M of revenue in fiscal 2025, Veeco Instruments $664.3M in fiscal 2025. Revenue changed by +3.6% at Azenta and -7.4% at Veeco Instruments on the year before, so Azenta grew faster. Azenta kept -9.4% of its revenue as net profit, Veeco Instruments 5.3%. Free cash flow was $38.3M at Azenta and $53.3M at Veeco Instruments.

Side by side, latest fiscal year

AZTAVECO
Fiscal year endedFY2025 (September 30, 2025)FY2025 (December 31, 2025)
Revenue$593.8M$664.3M
Revenue growth+3.6%-7.4%
Net income-$55.8M$35.4M
Net margin-9.4%5.3%
Free cash flow$38.3M$53.3M
Free cash flow margin6.5%8.0%
Earnings per share (diluted)-$1.22$0.59
Cash$279.8M$163.5M
Debtn/a$226M
Price to earningsn/a84.2
Market value$1.5B$3B
Dividend yieldn/an/a
Rank by revenue in sector#290 of 530 · Technology#277 of 530 · Technology

Over the years

Revenue
AZTA FY2018: $631.6MAZTA FY2019: $334.2MAZTA FY2020: $388.5MAZTA FY2021: $513.7MAZTA FY2022: $555.5MAZTA FY2023: $551.5MAZTA FY2024: $573.4MAZTA FY2025: $593.8MVECO FY2018: $542.1MVECO FY2019: $419.3MVECO FY2020: $454.2MVECO FY2021: $583.3MVECO FY2022: $646.1MVECO FY2023: $666.4MVECO FY2024: $717.3MVECO FY2025: $664.3MFY18FY19FY20FY21FY22FY23FY24FY25
AZTA $593.8MVECO $664.3M
Net income
AZTA FY2018: $116.6MAZTA FY2019: $437.4MAZTA FY2020: $64.9MAZTA FY2021: $110.7MAZTA FY2022: $2.1BAZTA FY2023: -$14.6MAZTA FY2024: -$164.9MAZTA FY2025: -$55.8MVECO FY2018: -$407.1MVECO FY2019: -$78.7MVECO FY2020: -$8.4MVECO FY2021: $26MVECO FY2022: $166.9MVECO FY2023: -$30.4MVECO FY2024: $73.7MVECO FY2025: $35.4MFY18FY19FY20FY21FY22FY23FY24FY25
AZTA -$55.8MVECO $35.4M
Net margin
AZTA FY2018: 18.5%AZTA FY2019: 130.9%AZTA FY2020: 16.7%AZTA FY2021: 21.6%AZTA FY2022: 384.0%AZTA FY2023: -2.7%AZTA FY2024: -28.8%AZTA FY2025: -9.4%VECO FY2018: -75.1%VECO FY2019: -18.8%VECO FY2020: -1.8%VECO FY2021: 4.5%VECO FY2022: 25.8%VECO FY2023: -4.6%VECO FY2024: 10.3%VECO FY2025: 5.3%FY18FY19FY20FY21FY22FY23FY24FY25
AZTA -9.4%VECO 5.3%
Revenue growth
AZTA FY2019: -47.1%AZTA FY2020: +16.3%AZTA FY2021: +32.2%AZTA FY2022: +8.1%AZTA FY2023: -0.7%AZTA FY2024: +4.0%AZTA FY2025: +3.6%VECO FY2019: -22.6%VECO FY2020: +8.3%VECO FY2021: +28.4%VECO FY2022: +10.8%VECO FY2023: +3.1%VECO FY2024: +7.6%VECO FY2025: -7.4%FY19FY20FY21FY22FY23FY24FY25
AZTA +3.6%VECO -7.4%
Free cash flow
AZTA FY2018: $61.2MAZTA FY2019: $67MAZTA FY2020: -$2.1MAZTA FY2021: $97.1MAZTA FY2022: -$539.5MAZTA FY2023: -$33.6MAZTA FY2024: $12.4MAZTA FY2025: $38.3MVECO FY2018: -$50.4MVECO FY2019: -$18.3MVECO FY2020: $36.2MVECO FY2021: $27.1MVECO FY2022: $83.9MVECO FY2023: $33.7MVECO FY2024: $45.7MVECO FY2025: $53.3MFY18FY19FY20FY21FY22FY23FY24FY25
AZTA $38.3MVECO $53.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about Azenta and Veeco Instruments

Which is bigger by revenue, Azenta or Veeco Instruments?

Veeco Instruments is bigger by revenue: $664.3M in fiscal 2025, against $593.8M for Azenta in fiscal 2025.

Which keeps more of its revenue as profit, Azenta or Veeco Instruments?

Azenta had a net margin of -9.4% in fiscal 2025; Veeco Instruments had 5.3% in fiscal 2025.

Which grew revenue faster, Azenta or Veeco Instruments?

In their latest fiscal years revenue changed by +3.6% at Azenta and -7.4% at Veeco Instruments.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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