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Dec 31, 2025
MKS Q4 2025 Earnings Report
MKS Inc. reported its financial results for the fourth quarter and full year of 2025, highlighting strong performance driven by investments in advanced electronics and semiconductor manufacturing.
Key Takeaways
MKS Inc. delivered a strong fourth quarter in 2025, with total net revenues reaching $1,033 million and GAAP net income of $108 million. The company's performance was bolstered by double-digit growth in semiconductor manufacturing and advanced packaging, driven by AI transformation. Non-GAAP net earnings per diluted share stood at $2.47, reflecting robust operational efficiency.
Quarterly revenue reached $1,033 million, demonstrating strong market demand.
GAAP net income was $108 million, with diluted EPS of $1.58.
Non-GAAP net earnings per diluted share were $2.47, indicating solid adjusted profitability.
Adjusted EBITDA for the quarter was $249 million, showcasing strong operational cash generation.
Revenue by Segment
Forward Guidance
MKS Inc. provided guidance for the first quarter of 2026, projecting revenues between $1,000 million and $1,080 million, with a gross margin of approximately 46.0%.
Positive Outlook
- Projected revenue of $1,040 million, plus or minus $40 million, indicates continued growth.
- Gross margin expected to be 46.0%, plus or minus 1.0%, suggesting stable profitability.
- Non-GAAP net earnings projected at $136 million, plus or minus $19 million, showing anticipated strong adjusted earnings.
- Non-GAAP net earnings per diluted share expected to be $2.00, plus or minus $0.28, reflecting healthy per-share profitability.
- Adjusted EBITDA forecast at $251 million, plus or minus $24 million, indicating strong anticipated cash flow.
Challenges Ahead
- Guidance is subject to the current business environment, including U.S. import tariffs and retaliatory actions by other countries.
- Potential for fluctuations in gross margin, with a +/- 1.0% range.
- Non-GAAP operating expenses are projected at $270 million, plus or minus $5 million, which could impact profitability if at the higher end.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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