Mks Inc. · NASDAQ:MKSI
Mks — Q3 2025 Earnings Presentation
20 slides from Mks's earnings presentation, Nov 6, 2025
Slide 1: Third Quarter 2025 Financial Results
Third Quarter 2025 Financial MKS Inc. November 6, 2025 Results
Slide 2: Safe Harbor for Forward-Looking Statements
Safe Harbor for Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding the future financi
Slide 3: Notes on Presentation
Notes on Presentation Use of Non-GAAP Financial Measures This presentation includes financial measures that are not in accordance with U.S. generally accepted accounting principles (“Non-GAAP financial measures”). These Non- GAAP financial measures should be viewed in addition to, and not as a subst
Slide 4: Q3 2025 Results: Strong revenue and profitability
Q3 2025 Results: Strong revenue and profitability Q3 2025 Q3 2025 Q3 2025 Q3 2025 $988M 46.6% $240M $1.93 REVENUE GROSS MARGIN ADJUSTED NON-GAAP EBITDA NET EARNINGS PER DILUTED SHARE ● Revenues and Non-GAAP earnings per share in the upper half of our guided ranges ● Year over year growth driven by S
Slide 5: Semiconductor
Semiconductor Q3 Highlights Business Trends Guidance Q3 2025 Q/Q CHANGE -4% Q4 2025 $415M Y/Y CHANGE +10% $415M+/- $15M REVENUE Y/Y CHANGE1 +9% REVENUE Excluding FX ● Revenue growth year over year driven by ● Q4’25 revenue guidance implies healthy deposition and etching applications critical for dou
Slide 6: Electronics & Packaging
Electronics & Packaging Q3 Highlights Business Trends Q/Q CHANGE +9% Guidance Q3 2025 Q4 2025 $289M Y/Y CHANGE +25% $295M+/- $10M REVENUE Y/Y CHANGE1 +22% REVENUE Excluding FX & Palladium ● Revenue driven in part by strong chemistry and ● Expect modest sequential growth from chemistry equipment dem
Slide 7: Specialty Industrial
Specialty Industrial Q3 Highlights Business Trends Q/Q CHANGE +3% Guidance Q3 2025 Q4 2025 $284M Y/Y CHANGE -1% $280M+/- $15M REVENUE Y/Y CHANGE1 -2% REVENUE Excluding FX & Palladium ● Revenue has remained stable over past several ● Expect continued sequential stability in Q4’25 quarters in muted d
Slide 8: Q3'25 Revenue & Select Financial Measures
Q3’25 Revenue & Select Financial Measures Y/Y Change Q3’25 SUMMARY Excl. FX and ● Revenue at the high end of guidance driven by Q3'25 Q2'25 Q3'24 Pd1 healthy demand in Semiconductor and Electronics Semiconductor $415M $432M $378M 9% & Packaging markets Electronics & Packaging $289M $266M $231M 22% S
Slide 9: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow Q3’25 SUMMARY Q3'25 Q2'25 Cash and Cash Equivalents $697M $674M ● Strong free cash flow of $147 million Trade Accounts Receivable, Net $611M $649M ● Liquidity of nearly $1.4 billion, consisting of $697 Inventories $934M $918M million of cash and cash equivalents and an undr
Slide 10: Outlook
Outlook Q4'25 Q3'25 Actual Outlook Revenue $990M +/- $40M $988M Non-GAAP Financial Measures ● Revenue outlook by end-market: Gross Margin 46.0% +/- 100 bps 46.6% ‒ Semiconductor – $415M +/- $15M Operating Expenses $255M +/- $5M $256M ‒ Electronics & Packaging – $295M +/- $10M Operating Income $200M
Slide 11: Our Investments are Paying Off
Our Investments are Paying Off ● High level of execution in the third quarter and expecting momentum to continue in the fourth quarter ● MKS is well positioned with a broad portfolio of leading technologies o Semiconductor subsystems support leading-edge deposition and etch applications across logic
Slide 12: Q&A
Q&A
Slide 13: Q3'25 Revenue
Q3’25 Revenue Q3’25 Specialty Industrial 29% Semi 42% Electronics & Packaging 29% Consumables & Service 43% Q3'25 vs Q3'24(1) Change Total Excluding Q3'25 Q2'25 Q3'24 Change FX Pd FX & Pd Semiconductor $ 415 $ 432 $ 378 10% 1% - 9% Electronics & Packaging 289 266 231 25% 3% 1% 22% Specialty Industri
Slide 14: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q4'25E Q3'25 Q2'25 Q3'24 Net income $ 96 $ 74 $ 62 $ 62 Acquisition and integration costs — — — 3 Restructuring and other 8 4 5 1 Amortization of intangible assets 62 63 62 61 Loss on extinguishment of debt 2 2 2 5 Amortization of debt issuance costs 5 5 5
Slide 15: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q4'25E Q3'25 Q2'25 Q3'24 Operating expenses $ 325 $ 323 $ 318 $ 304 Acquisition and integration costs — — — 3 Restructuring and other 8 4 5 1 Amortization of intangible assets 62 63 62 61 Fees and expenses related to amendments to the Term Loan Facility —
Slide 16: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q4'25E Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Net income $ 96 $ 74 $ 62 $ 52 $ 90 $ 62 Interest expense, net 48 50 51 50 49 58 Other (income) expense, net — 2 10 (1) 3 5 Provision (benefit) for income taxes (16) 10 10 7 (11) (2) Depreciation 24 23 26 25 26 26 Amort
Slide 17: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q3'25 Q2'25 Q3'24 Net cash provided by operating activities $ 197 $ 165 $ 163 Purchases of property, plant and equipment (50) (29) (22) Free cash flow $ 147 $ 136 $ 141 Q3'25 Q2'25 Q3'24 Free cash flow $ 147 $ 136 $ 141 Cash paid for interest 44 56 61 Tax
Slide 18: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Q3'25 Q2'25 Income Before Provision for Effective Tax Income Before Provision for Effective Tax Income Tax Income Taxes Rate Income Tax Income Taxes Rate GAAP $ 84 $ 10 12.3% $ 72 $ 10 13.6% Restructuring and other 4 — 5 — Amortization of intangible assets
Slide 19: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations 2025E Income Before Provision for Effective Tax Income Tax Income Taxes Rate GAAP $ 295 $ 11 3.7% Restructuring and other 33 — Amortization of intangible assets 246 — Loss on extinguishment of debt 9 — Amortization of debt issuance costs 20 — Fees and expe
Slide 20: Appendix – GAAP to Non-GAAP Reconciliations
Appendix – GAAP to Non-GAAP Reconciliations Non-GAAP financial measures adjust GAAP financial measures for the items listed below. These Non-GAAP financial measures should be viewed in addition to, and not as a substitute for, MKS’ reported GAAP results, and may be different from Non-GAAP financial