Semiconductor-equipment subsystems · World No.1 in RF power · Vacuum & gas-flow control
MKS Instruments
A supplier of critical subsystems for semiconductor equipment: RF/microwave power (world #1), vacuum and gas flow, photonics (Newport) and materials (Atotech), feeding etch and deposition tools. ASML, Applied Materials and Lam Research rely heavily on MKS subsystems. ~$0.97B quarterly revenue in 2025 (AI/NAND demand).
MKSI Updated Jul 12, 2026 5 AI consumers· 4 recurring
Per the valuechain.wiki graph, MKS Instruments is directly linked to 5 companies (0 supply, 5 revenue relationships) and reaches 19 companies within two hops; the links are backed by 6 dated sources, 2 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · ~$0.97B quarterly revenue (2025)
- Customer concentration · Customers AMAT, Lam, ASML (some overlap/competition).
- Segments · RF/microwave power · Vacuum/flow · Photonics (Newport) · Materials (Atotech)
Revenue from
- Lam Research High confidence
Supplies RF power, vacuum and other subsystems to lam-research tools.Confirms EN Yole Group Published Jan 1, 2025: Critical subsystems suppliers are the superstars of the chain - Applied Materials High confidence
Supplies RF power, vacuum and other subsystems to applied-materials tools.Confirms EN Yole Group Published Jan 1, 2025: Critical subsystems suppliers are the superstars of the chain - ASML Medium confidence
Supplies RF power, vacuum and other subsystems to asml tools.Confirms EN Yole Group Published Jan 1, 2025: Critical subsystems suppliers are the superstars of the chain - Tokyo Electron (TEL) Medium confidence
Supplies RF power, vacuum and other subsystems to tokyo-electron tools.Confirms EN Yole Group Published Jan 1, 2025: Critical subsystems suppliers are the superstars of the chain - 이코르 (유량 제어 부품) Medium confidence
Supplies flow-control components (mass flow controllers, pressure/vacuum parts) to gas-panel integrator Ichor.Confirms EN SEC EDGAR Published Feb 20, 2026: Ichor Holdings Annual Report on Form 10-K (fiscal year ended December 26, 2025)
Pays to
- components & materials (undisclosed) Low confidence
Power, vacuum and optical components and materials. - R&D engineers (undisclosed) Low confidence
Subsystem R&D staff (undisclosed).
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| SanDisk | lead2 | · | · | · | · | · | +633 |
| Micron Technology | lead2 | +24.2 | -45.9 | +71.9 | -1 | +240.2 | +256.4 |
| United Microelectronics (UMC) | lead2 | +43.2 | -40.3 | +39.2 | -19 | +28.8 | +168.9 |
| Kioxia | lead2 | · | · | · | · | +1082.1 | +155 |
| Tower Semiconductor | lead2 | +53.7 | +8.9 | -29.4 | +68.8 | +128 | +89.4 |
| ROHM | lead2 | -9 | +10.9 | +1.7 | -40.8 | +86.1 | +82 |
| SK hynix | lead2 | -0.4 | -25.6 | +53.9 | +48.6 | +361.1 | +81.6 |
| Samsung Electronics | lead2 | -9 | -14.2 | +20.9 | -26.4 | +212.9 | +59.7 |
| Nanya Technology | lead2 | -8.3 | -14.2 | +22.5 | -56.2 | +984.7 | +52.4 |
| TSMC | lead2 | +12.1 | -36.7 | +42.3 | +92.6 | +55.9 | +41.9 |
| onsemi | lead2 | +107.5 | -8.2 | +33.9 | -24.5 | -14.1 | +37.4 |
| GlobalFoundries | lead2 | · | -17.1 | +12.5 | -29.2 | -18.6 | +29.7 |
| Hua Hong Semiconductor | lead2 | -19.8 | -19.5 | -53 | +61.6 | +412.1 | -5.8 |
| SMIC | lead2 | -29.6 | -7.4 | -18.3 | +169.9 | +98.4 | -10.9 |
| Ichor Holdings | lead1 | +52.7 | -41.7 | +25.4 | -4.2 | -42.8 | +205.9 |
| Lam Research | lead1 | +53.7 | -40.7 | +88.6 | -6.8 | +139.2 | +80.1 |
| Applied Materials | lead1 | +83.6 | -37.5 | +68 | +1.1 | +59.6 | +77.6 |
| ASML | lead1 | +64.1 | -30.5 | +39.9 | -7.7 | +55.8 | +61.1 |
| Tokyo Electron (TEL) | lead1 | +40.4 | -14.5 | +89.8 | -4.4 | +61.6 | +30.3 |
| MKS Instruments | node | +16.4 | -51 | +22.6 | +2.2 | +54.4 | +63.3 |
YTD as of 2026-09-04 · source: Yahoo Finance
MKS Instruments operates across NASDAQ, Equipment subsystems, #1 RF & vacuum. Momentum stayed firm and it is +63.3% in 2026. The demand side (avg +106.2%) leads the stock (+63.3%), so customer moves come first here. Among connected nodes the furthest ahead is Ichor Holdings (+205.9%) and the furthest behind is ASML (+61.1%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. ~$0.97B quarterly revenue in 2025 (AI/NAND demand).
Analysis generated from returns as of 2026-09-04Analyst ratings
Consensus: Buy 3 · Hold 0 · Sell 0 · Avg. target $430 · Price $260.31 (09-04) · Upside +65%