Veeco Instruments Inc (VECO)
Inventory turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 415,121 | 404,367 | 399,260 | 391,077 | 383,499 | 376,987 | 378,460 | 384,061 | 382,987 | 381,056 | 366,171 | 352,617 | 341,004 | 334,156 | 310,015 | 280,580 | 259,863 | 245,994 | 249,789 | 254,583 |
| Inventory | US$ in thousands | 246,735 | 242,123 | 262,408 | 243,266 | 257,035 | 252,120 | 244,470 | 225,717 | 206,908 | 187,737 | 176,491 | 179,066 | 170,858 | 170,835 | 164,041 | 156,216 | 145,906 | 143,469 | 136,555 | 129,611 |
| Inventory turnover | 1.68 | 1.67 | 1.52 | 1.61 | 1.49 | 1.50 | 1.55 | 1.70 | 1.85 | 2.03 | 2.07 | 1.97 | 2.00 | 1.96 | 1.89 | 1.80 | 1.78 | 1.71 | 1.83 | 1.96 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $415,121K ÷ $246,735K
= 1.68
Veeco Instruments Inc's inventory turnover ratio has shown some fluctuations over the past few years. The ratio was relatively stable around the range of 1.70 to 2.00 from March 2020 to June 2022. It saw an increasing trend from June 2022 to December 2022, reaching a peak of 2.07, indicating that the company was managing its inventory more efficiently during this period.
However, from March 2023 onwards, the inventory turnover ratio started to decline steadily, falling to a low of 1.49 by December 2023. This could suggest potential inventory management challenges or a slowdown in inventory turnover efficiency during this period.
From March 2024 to December 2024, there was a slight improvement in the inventory turnover ratio, but it remained below the levels seen in the earlier years. Overall, Veeco Instruments Inc's inventory turnover ratio has displayed some variability, and it would be beneficial for the company to analyze the reasons behind these fluctuations to enhance its inventory management practices and operational efficiency.
Peer comparison
Dec 31, 2024
Dec 31, 2024