MKS Instruments vs Qnity Electronics
Qnity Electronics reported revenue of $4.8 billion in fiscal 2025, 1.2 times MKS Instruments' $3.9 billion in fiscal 2025. MKS Instruments' revenue grew 9.6% in its latest year, and Qnity Electronics' grew 9.7%. Free cash flow was $497 million at MKS Instruments and $988 million at Qnity Electronics.
Side by side
| MKS Instruments | Qnity Electronics | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $3.9B | $4.8B |
| Revenue growth | 9.6% | 9.7% |
| Revenue growth a year, last 5 years | 11.0% | — |
| Gross margin | 46.7% | 46.2% |
| Operating margin | 13.4% | — |
| Net margin | 7.5% | 15.3% |
| Free cash flow | $497M | $988M |
| Free cash flow margin | 12.6% | 20.8% |
| Return on capital | 7.8% | 7.3% |
| Net debt to EBITDA | 4.4x | 2.3x |
| Dividends and buybacks | $104M | $13M |
| Change in diluted share count | 0.1% | 0.2% |
| Last close | $202.28 | $114.07 |
| P/E at the last close | 32.2× | 34.6× |
| Insider trades, last 12 months | sold $43.4 million | bought $467,712, sold $970,300 |
| Piotroski F-score | 6 of 9 | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
MKS InstrumentsQnity Electronics
Operating margin
Percent of revenue
MKS InstrumentsQnity Electronics
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
MKS InstrumentsQnity Electronics
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the MKS Instruments and Qnity Electronics pages.