Veeco Instruments Inc (VECO)
Days of sales outstanding (DSO)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Receivables turnover | 5.41 | 5.11 | 5.03 | 5.27 | 8.70 | |
| DSO | days | 67.44 | 71.44 | 72.62 | 69.25 | 41.96 |
December 31, 2023 calculation
DSO = 365 ÷ Receivables turnover
= 365 ÷ 5.41
= 67.44
Veeco Instruments Inc has experienced fluctuating Days of Sales Outstanding (DSO) over the past five years. In 2023, the DSO stands at 56.42 days, showing an improvement compared to the previous year's 70.17 days. This indicates that the company is collecting its accounts receivable more efficiently in 2023. However, the DSO was higher in 2023 compared to 2019 when it stood at 39.75 days, suggesting a potential deterioration in collections efficiency over the period.
It is essential for Veeco Instruments Inc to continue monitoring and managing its DSO to ensure timely collection of accounts receivable and maintain healthy cash flows. Further analysis and comparison with industry benchmarks would provide additional insights into the company's performance in this area.
Peer comparison
Dec 31, 2023