Veeco Instruments Inc (VECO)
Inventory turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 413,296 | 381,376 | 382,989 | 341,003 | 259,863 |
| Inventory | US$ in thousands | 246,735 | 237,635 | 206,908 | 170,858 | 145,906 |
| Inventory turnover | 1.68 | 1.60 | 1.85 | 2.00 | 1.78 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $413,296K ÷ $246,735K
= 1.68
Veeco Instruments Inc's inventory turnover has shown some fluctuations over the past five years. The company's inventory turnover ratio was 1.78 in December 31, 2020, which increased to 2.00 in December 31, 2021, indicating that the company was able to sell its inventory more efficiently during that year. However, in December 31, 2022, the inventory turnover ratio slightly decreased to 1.85 before dropping further to 1.60 in December 31, 2023, suggesting a possible inefficiency in managing inventory during that period. In the most recent year, December 31, 2024, the inventory turnover ratio improved to 1.68, but it still remains lower than the peak in 2021. Overall, Veeco Instruments Inc's inventory turnover has shown some variability, and it would be important for the company to closely monitor and manage its inventory levels to improve operational efficiency and profitability.
Peer comparison
Dec 31, 2024