Veeco Instruments Inc (VECO)
Fixed asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 654,666 | 634,722 | 629,160 | 631,722 | 634,627 | 624,980 | 599,092 | 577,465 | 550,886 | 548,564 | 511,078 | 461,104 | 432,985 | 407,241 | 404,993 | 407,770 | 402,860 | 388,630 | 406,380 | 466,568 |
| Property, plant and equipment | US$ in thousands | 118,459 | 118,213 | 111,993 | 113,228 | 107,281 | 108,416 | 105,031 | 104,128 | 99,743 | 93,851 | 82,208 | 65,207 | 65,271 | 65,811 | 69,170 | 72,291 | 75,711 | 77,801 | 80,761 | 77,737 |
| Fixed asset turnover | 5.53 | 5.37 | 5.62 | 5.58 | 5.92 | 5.76 | 5.70 | 5.55 | 5.52 | 5.85 | 6.22 | 7.07 | 6.63 | 6.19 | 5.86 | 5.64 | 5.32 | 5.00 | 5.03 | 6.00 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $654,666K ÷ $118,459K
= 5.53
The fixed asset turnover of Veeco Instruments Inc has been relatively stable over the past eight quarters, ranging from 5.47 to 6.02. The ratio indicates that Veeco is generating approximately $5.47 to $6.02 in revenue for every dollar invested in fixed assets.
The consistency in the fixed asset turnover ratio suggests that Veeco is efficiently utilizing its fixed assets to generate sales revenue. A higher ratio indicates better asset utilization efficiency, implying that Veeco is effectively managing and utilizing its fixed assets to drive sales.
Overall, the trend in the fixed asset turnover ratio suggests that Veeco's operations are efficient and effective in generating revenue from its fixed asset base.
Peer comparison
Dec 31, 2023