NASDAQ$MKSI

MKS Instruments Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

MKS Instruments reported record quarterly revenue and Non-GAAP net earnings, driven by strong demand in the Semiconductor Market and recovery in Advanced Markets.

MKS Instruments reported record fourth-quarter revenue of $660 million, up 32% year-over-year. Record quarterly Non-GAAP net earnings were $130 million, up 96% year-over-year, and quarterly net income was $116 million, up 170% year-over-year.

  • Delivered record quarterly and full year revenue, underpinned by strong demand in Semiconductor Market and continued recovery in Advanced Markets.
  • Achieved record revenue from Power Solutions products and strong year-over-year growth across the remainder of Semiconductor portfolio.
  • Returned to strong year-over-year growth in Advanced Markets, encouraged with demand trends in Advanced Electronics applications.
  • Achieved record quarterly Non-GAAP operating income and generated strong operating leverage.

Headline financials

Total Revenue

$660M

Previous: $500M+32.1%
EPS (adj)

$2.34

Previous: $1.20+95.0%
Operating Margin

22.2%

Previous: 13.2%+68.2%
Adjusted EBITDA

$181M

No prior period
Capital Expenditures

$25M

Previous: $19.2M+30.5%
Free Cash Flow

$122M

Previous: $58.1M+110.3%
Net Income

$116M

Previous: $43M+169.8%
Operating Income

$147M

Previous: $66.1M+121.9%
Gross Profit

$302M

Previous: $216M+39.4%
Cash & Equivalents

$608M

Previous: $415M+46.7%
Total Assets

$3.9B

Previous: $3.42B+14.1%
Stock-Based Comp

$6.8M

Previous: $7.05M-3.6%

Revenue & EPS history

MKS · Revenue · Quarterly

$660M

Q4 2020+32.1%vs Q4 2019
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

Revenue by segment

MKS · $660M total across 2 segments · Q4 2020

  • Semiconductor
    $393M+44.5%
  • Electronics & Packaging
    $267M

Forward guidance

The Company expects revenue in the first quarter of 2021 of $650 million, plus or minus $25 million. At these volumes, the Company expects GAAP net income per diluted share of $1.91, plus or minus $0.20 and Non-GAAP net earnings per diluted share of $2.16, plus or minus $0.20.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2020

Historical avgQ4 2020

+0.8%

Avg return

Earnings day

+1.3%

Avg return

5 days after

+2.2%

Avg return

30 days after

59%

40 / 68 earnings

Positive

+14.6%

Q3 2024

Best reaction

-17.1%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+2.3%+6.1%+2.6%
Q4 2025-4.8%-3.5%-13.6%
Q3 2025+11.1%+9.1%+16.5%
Q1 2025+3.9%+25.6%+19.3%
Q4 2024-6.6%-5.2%-22.4%
Q3 2024+14.6%+13.1%+13.5%
Q2 2024+3.3%+3.0%-1.9%
Q1 2024+3.5%-3.7%+4.0%
Q4 2023+5.8%+11.6%+18.7%
Q3 2023+0.8%+3.4%+28.2%
Q2 2023-5.8%-6.5%-6.3%
Q1 2023+2.1%+0.5%+17.1%
Q4 2022+5.9%+5.5%-5.5%
Q3 2022-17.1%-18.8%+0.5%
Q2 2022+8.9%+11.4%-4.6%
Q1 2022-7.8%-6.2%-1.7%
Q4 2021-6.8%-0.5%-3.1%
Q3 2021+2.2%+7.2%+8.7%
Q2 2021-1.2%-0.1%-4.0%
Q1 2021+1.1%-3.3%+0.6%
Q4 2020-5.7%-7.2%-6.9%
Q3 2020-0.8%-1.6%+23.7%
Q2 2020+4.0%+5.6%+0.1%
Q1 2020+12.4%-4.3%+7.5%
Q4 2019+1.5%-3.5%-9.9%
Q3 2019+14.2%+19.7%+7.0%
Q2 2019-3.1%-8.5%-13.0%
Q1 2019-10.4%-10.5%-28.4%
Q4 2018+2.4%+5.7%+4.2%
Q3 2018-5.3%-4.9%-1.7%
Q2 2018-10.4%-3.6%-10.4%
Q1 2018-2.3%-1.7%+7.1%
Q4 2017+7.2%+1.9%+12.4%
Q3 2017+1.5%+4.9%+2.7%
Q2 2017+3.5%+3.8%-0.4%
Q1 2017+6.7%+7.5%+8.1%
Q4 2016+0.5%+1.0%-2.3%
Q3 2016+1.3%+2.4%+17.5%
Q2 2016-0.7%-3.6%+1.8%
Q1 2016-0.1%
Q4 2015-1.9%
Q3 2015-5.1%
Q2 2015-0.3%
Q1 2015+4.9%
Q4 2014+4.4%
Q3 2014+4.3%
Q2 2014+1.3%
Q1 2014-0.0%
Q4 2013+4.8%
Q3 2013+3.5%
Q2 2013-1.0%
Q1 2013+2.0%
Q4 2012+0.8%
Q3 2012-2.1%
Q2 2012+2.9%
Q1 2012+2.3%
Q4 2011-1.6%
Q3 2011+1.4%
Q2 2011-7.3%
Q1 2010+3.6%
Q1 2011-1.0%
Q4 2008+6.0%
Q4 2010+6.0%
Q3 2010+2.9%
Q3 2009+2.9%
Q4 2009-3.0%
Q2 2009-3.0%
Q2 2010-3.0%

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