Veeco Instruments Inc (VECO)
Inventory 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 482,612 | 476,076 | 477,261 | 482,372 | 481,958 | 480,743 | 465,788 | 451,221 | 437,819 | 431,328 | 405,854 | 374,382 | 352,822 | 344,400 | 352,051 | 359,056 | 368,412 | 392,991 | 406,205 | 713,672 |
| Inventory | US$ in thousands | 237,635 | 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 | 133,067 | 135,190 | 139,708 | 148,103 |
| Inventory turnover | 2.03 | 1.89 | 1.95 | 2.14 | 2.33 | 2.56 | 2.64 | 2.52 | 2.56 | 2.52 | 2.47 | 2.40 | 2.42 | 2.40 | 2.58 | 2.77 | 2.77 | 2.91 | 2.91 | 4.82 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $482,612K ÷ $237,635K
= 2.03
Veeco Instruments Inc's inventory turnover has shown a declining trend from Q1 2022 (2.07) to Q4 2023 (1.60), indicating that the company is selling its inventory at a slower rate compared to previous periods. The decreasing trend suggests that Veeco may be facing challenges in efficiently managing its inventory levels or experiencing lower sales volume relative to its inventory holdings. It is important for Veeco to closely monitor and potentially optimize its inventory management practices to improve turnover efficiency and minimize carrying costs associated with excess inventory. Additionally, the company may need to assess its sales strategies and demand forecasting to align with inventory levels for improved overall financial performance.
Peer comparison
Dec 31, 2023
Dec 31, 2023