Jun 2026 (Q2 FY26) — Aug 6, 2026
MKS Inc. Q2 FY26 — Strong Demand Across All Markets Drives Outperformance and Accelerated Growth
Read the full callMKS (MKSI) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
MKS earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,248 | +28.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 20.1 | +6.2 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 175 | +182.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
83 of 89 judged targets kept · 36 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted EBITDA | $328 million plus or minus $26 million | Mar 2026 | Second quarter adjusted EBITDA was $358 million | Achieved |
| Gross-margin benefit from product mix | Mix improves in Q2 from the Lunar-New-Year-affected Q1 | Dec 2025 | mix is unfavorable, and will remain so as long as VSD and the chemistry equipment ramps. | Missed |
| Full-year effective tax rate | 18% to 20% | Dec 2025 | the full year tax rate to be at the lower end of the 18% to 20% range we provided previously. | Revised Up |
6 of MKS INC's 125 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 122 more targets are in the full ledger.
Claimed
- Q2 revenue of $1.25 billion was up 16% sequentially and 28% year-over-year, exceeding guidance.
- Semiconductor revenue grew 19% sequentially and 28% year-over-year, accelerating from 13% in Q1.
- Electronics & Packaging revenue was up 19% sequentially and 44% year-over-year, above the high end of outlook.
- Specialty Industrial revenue increased 8% sequentially and 14% year-over-year, driven by datacom and defense.
- Non-GAAP diluted EPS of $3.30 was up 86% year-over-year and above the high end of guidance.
Qualified
- Gross margin of 47.6% included 100 basis points of discrete benefits, implying underlying pressure from product mix and investments.
- Chemistry equipment sales, while strong for market share, have a lower gross margin and temporarily impact overall company gross margin.
- Investments in capacity ramp-up (Malaysia, Guangzhou) are expected to impact gross margin by 50-80 basis points per quarter for the next few quarters.
Price
$215.41 +0.27% · +$0.58
Performance +57.8% 1Y
1Y: $136.52 on 17 Oct 2025 → $215.41. High $444.8 (30 Jun 2026), low $134.42 (22 Oct 2025).
- Previous close
- $214.83
- 52-week range
- $134.42 – $444.8
- One year
- +52.15%
Overview
- Symbol
- MKSI
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
83 of 89 judged targets kept · 36 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted EBITDA | $328 million plus or minus $26 million | Mar 2026 | Second quarter adjusted EBITDA was $358 million | Achieved |
| Gross-margin benefit from product mix | Mix improves in Q2 from the Lunar-New-Year-affected Q1 | Dec 2025 | mix is unfavorable, and will remain so as long as VSD and the chemistry equipment ramps. | Missed |
| Full-year effective tax rate | 18% to 20% | Dec 2025 | the full year tax rate to be at the lower end of the 18% to 20% range we provided previously. | Revised Up |
Claimed
- Q2 revenue of $1.25 billion was up 16% sequentially and 28% year-over-year, exceeding guidance.
- Semiconductor revenue grew 19% sequentially and 28% year-over-year, accelerating from 13% in Q1.
- Electronics & Packaging revenue was up 19% sequentially and 44% year-over-year, above the high end of outlook.
- Specialty Industrial revenue increased 8% sequentially and 14% year-over-year, driven by datacom and defense.
- Non-GAAP diluted EPS of $3.30 was up 86% year-over-year and above the high end of guidance.
Qualified
- Gross margin of 47.6% included 100 basis points of discrete benefits, implying underlying pressure from product mix and investments.
- Chemistry equipment sales, while strong for market share, have a lower gross margin and temporarily impact overall company gross margin.
- Investments in capacity ramp-up (Malaysia, Guangzhou) are expected to impact gross margin by 50-80 basis points per quarter for the next few quarters.
The full ledger
Open MKS INC’s full ledger
A free account opens 5 company ledgers a month. All 125 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 7, 2026
MKS Q1 FY26 — Strong AI-Driven Demand Fuels Outperformance and Robust Q2 Outlook
Read the full callDec 2025 (Q4 FY25) — Feb 18, 2026
MKS Q4 FY25 — Strong Execution and Strengthening Demand
Read the full callEvery analysed call
MKS earnings calls (MKSI)
Financials
What the filings say
Net profit, year on year: +182% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 896 | 935 | 936 | 973 | 988 | 1,034 | 1,078 | 1,248 |
| Operating profit | 128 | 137 | 111 | 135 | 138 | 144 | 149 | 251 |
| Operating margin | 14.3% | 14.7% | 11.9% | 13.9% | 14.0% | 13.9% | 13.8% | 20.1% |
| Other income | -5 | — | — | — | — | — | — | — |
| Interest | 64 | 54 | 53 | 55 | 53 | 51 | 45 | 38 |
| Profit before tax | 60 | 79 | 59 | 72 | 84 | 89 | 102 | 213 |
| Tax rate | −3.3% | −13.9% | 11.9% | 13.9% | 11.9% | −20.2% | 17.6% | 17.8% |
| Net profit | 62 | 90 | 52 | 62 | 74 | 107 | 84 | 175 |
| EPS ($ per share) | 0.92 | — | 0.77 | 0.92 | 1.10 | — | 1.24 | 2.59 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | 1,085 | 1,181 | 1,487 | 1,991 | 2,272 | 373 | 503 | 711 |
| Total liabilities | 741 | 1,393 | 1,543 | 1,653 | 7,012 | 6,646 | 6,268 | 6,077 |
| Fixed assets | 194 | 242 | 284 | 326 | 800 | 784 | 771 | 810 |
| Investments | 74 | 109 | 228 | 76 | 1 | 0 | — | — |
| Total assets | 2,614 | 3,416 | 3,904 | 4,540 | 11,495 | 9,118 | 8,590 | 8,796 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 414 | 245 | 513 | 640 | 529 | 319 | 528 | 645 |
| Cash from investing | 73 | -947 | -202 | -205 | -4,552 | -84 | -117 | -145 |
| Cash from financing | -178 | 476 | -122 | -65 | 3,971 | -259 | -549 | -562 |
| Net cash flow | 310 | -230 | 193 | 358 | -57 | -34 | -161 | -39 |
| Capital expenditure | -63 | -64 | -85 | -87 | -164 | -87 | -118 | -148 |
| Free cash flow | 351 | 181 | 428 | 553 | 365 | 232 | 410 | 497 |
MKSI revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Vacuum Solutions Division | 39% | 40% | 41% | 42% | 39% | 39% | 39% | 41% | +24.6% |
| Materials Solutions Division | 33% | 32% | 31% | 33% | 36% | 35% | 32% | 32% | +23.8% |
| Photonics Solutions Division | 28% | 28% | 28% | 25% | 25% | 27% | 28% | 27% | +40.3% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q2 FY2026 · share of revenue
- CN 23% ↑ 2 pt
- Other Countries 19% ↓ 7 pt
- US 18% ↓ 4 pt
- KR 13% ↑ 3 pt
- MY 7%
- TW 7%
- SG 6%
- JP 6% ↓ 1 pt
As MKSI cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
113 filings between Oct 22, 2025 and Sep 1, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$43.50M
46 sales by 13 insiders
41% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 7
- Award — granted as compensation
- 48
- Option exercise — converted options into shares
- 12
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Lee John Tseng-Chung | — | $13.88M | Aug 14, 2026 |
| COLELLA GERARD G | — | $11.74M | May 27, 2026 |
| Henry David Philip | — | $3.24M | Jun 1, 2026 |
| Mayampurath Ramakumar | — | $2.78M | May 22, 2026 |
| Schreiner James Alan | — | $2.60M | Jun 12, 2026 |
| Burke Kathleen Flaherty | — | $2.46M | May 11, 2026 |
| Taranto Eric Robert | — | $2.28M | May 11, 2026 |
| McCarthy Michelle M | — | $1.13M | Jun 5, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 1, 2026 | Mora Elizabeth Director | Sale 10b5-1 plan | 300 | $75.3K |
| Aug 14, 2026 | Lee John Tseng-Chung President & CEO | Sale 10b5-1 plan | 10,000 | $3.02M |
| Aug 3, 2026 | Williams John Edward EVP & GM, PSD | Sale 10b5-1 plan | 457 | $131.8K |
| Jun 12, 2026 | Schreiner James Alan EVP & COO | Sale | 2,471 | $853.8K |
| Jun 12, 2026 | Schreiner James Alan EVP & COO | Sale | 812 | $281.3K |
| Jun 12, 2026 | Schreiner James Alan EVP & COO | Sale | 217 | $75.3K |
| Jun 10, 2026 | Schreiner James Alan EVP & COO | Sale 10b5-1 plan | 781 | $247.9K |
| Jun 5, 2026 | McCarthy Michelle M SVP & Chief Accounting Officer | Sale 10b5-1 plan | 2,434 | $767.3K |
| Jun 1, 2026 | Mora Elizabeth Director | Sale 10b5-1 plan | 300 | $95.4K |
| Jun 1, 2026 | Henry David Philip EVP, Global Str Mktg & GM, MSD | Sale | 6,000 | $1.89M |
| May 27, 2026 | COLELLA GERARD G Director | Sale 10b5-1 plan | 1,626 | $547.2K |
| May 27, 2026 | COLELLA GERARD G Director | Sale 10b5-1 plan | 213 | $71.8K |
| May 27, 2026 | COLELLA GERARD G Director | Sale 10b5-1 plan | 4,876 | $1.62M |
| May 27, 2026 | COLELLA GERARD G Director | Sale 10b5-1 plan | 1,811 | $607.5K |
| May 27, 2026 | COLELLA GERARD G Director | Sale 10b5-1 plan | 8,210 | $2.72M |
| May 27, 2026 | Donahue Joseph B Director | Sale | 2,100 | $688.7K |
| May 27, 2026 | COLELLA GERARD G Director | Sale 10b5-1 plan | 464 | $153.3K |
| May 27, 2026 | COLELLA GERARD G Director | Sale 10b5-1 plan | 2,800 | $948.0K |
| May 26, 2026 | Henry David Philip EVP, Global Str Mktg & GM, MSD | Sale 10b5-1 plan | 2,500 | $826.3K |
| May 22, 2026 | Mayampurath Ramakumar EVP & CFO | Sale 10b5-1 plan | 8,810 | $2.78M |
| May 22, 2026 | Lee John Tseng-Chung President & CEO | Sale 10b5-1 plan | 10,000 | $3.15M |
| May 18, 2026 | CANNONE PETER III Director | Sale | 1,350 | $409.6K |
| May 14, 2026 | Moloney Jacqueline F Director | Sale | 1,000 | $312.2K |
| May 13, 2026 | Moloney Jacqueline F Director | Sale | 1,400 | $446.6K |
| May 11, 2026 | JABRE WISSAM G Director | Award | 782 | — |
| May 11, 2026 | Mora Elizabeth Director | Award | 782 | — |
| May 11, 2026 | Burke Kathleen Flaherty EVP, GC & Secretary | Sale | 4,355 | $1.39M |
| May 11, 2026 | Donahue Joseph B Director | Award | 782 | — |
| May 11, 2026 | Batra Raj Director | Award | 782 | — |
| May 11, 2026 | Moloney Jacqueline F Director | Award | 782 | — |
| May 11, 2026 | CANNONE PETER III Director | Award | 782 | — |
| May 11, 2026 | Taranto Eric Robert EVP & GM, VSD | Sale | 2,849 | $911.3K |
| May 11, 2026 | COLELLA GERARD G Director | Award | 782 | — |
| Apr 17, 2026 | Williams John Edward EVP & GM, PSD | Option exercise | 1,741 | — |
| Apr 17, 2026 | Williams John Edward EVP & GM, PSD | Tax withheld | 826 | $222.9K |
| Apr 15, 2026 | McCarthy Michelle M SVP & Chief Accounting Officer | Option exercise | 968 | — |
| Apr 15, 2026 | McCarthy Michelle M SVP & Chief Accounting Officer | Tax withheld | 1,375 | $377.1K |
| Apr 15, 2026 | McCarthy Michelle M SVP & Chief Accounting Officer | Option exercise | 1,736 | — |
| Apr 15, 2026 | McCarthy Michelle M SVP & Chief Accounting Officer | Option exercise | 1,107 | — |
| Mar 12, 2026 | Moloney Jacqueline F Director | Sale | 340 | $72.7K |
| Mar 6, 2026 | Taranto Eric Robert EVP & GM, VSD | Sale | 4,568 | $1.01M |
| Mar 2, 2026 | Mora Elizabeth Director | Sale 10b5-1 plan | 300 | $71.8K |
| Feb 24, 2026 | Schreiner James Alan EVP & COO | Sale | 4,100 | $1.05M |
| Feb 24, 2026 | COLELLA GERARD G Director | Sale | 10,000 | $2.54M |
| Feb 20, 2026 | COLELLA GERARD G Director | Sale | 10,000 | $2.53M |
| Feb 20, 2026 | Williams John Edward EVP & GM, PSD | Sale | 2,043 | $523.7K |
| Feb 20, 2026 | Burke Kathleen Flaherty EVP, GC & Secretary | Sale | 4,254 | $1.06M |
| Feb 20, 2026 | Lee John Tseng-Chung President & CEO | Sale | 1,890 | $490.8K |
| Feb 20, 2026 | Lee John Tseng-Chung President & CEO | Sale | 1,988 | $512.5K |
| Feb 20, 2026 | Lee John Tseng-Chung President & CEO | Sale | 12,812 | $3.29M |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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