Veeco Instruments Inc (VECO)
Payables 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 |
| Payables | US$ in thousands | 42,383 | 62,985 | 63,212 | 61,973 | 52,049 | 51,129 | 47,074 | 56,154 | 44,456 | 48,749 | 55,045 | 42,638 | 33,656 | 33,837 | 25,973 | 36,359 | 21,281 | 34,702 | 21,703 | 36,315 |
| Payables turnover | 11.39 | 7.56 | 7.55 | 7.78 | 9.26 | 9.40 | 9.89 | 8.04 | 9.85 | 8.85 | 7.37 | 8.78 | 10.48 | 10.18 | 13.55 | 9.88 | 17.31 | 11.32 | 18.72 | 19.65 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $482,612K ÷ $42,383K
= 11.39
The payables turnover ratio for Veeco Instruments Inc has shown some fluctuations over the recent quarters. In Q4 2023, the payables turnover ratio was 9.00, indicating that the company is able to pay off its accounts payable 9 times during the period. This represents an improvement compared to the previous quarter where it was 5.99.
While there was a significant increase in Q4 2023, it's important to consider the trend over multiple periods to understand the company's performance. Looking back at the last eight quarters, the payables turnover ratio has generally been in the range of 5.99 to 7.78, with occasional spikes like in Q4 2023.
A high payables turnover ratio could suggest that Veeco Instruments Inc is efficiently managing its accounts payable by quickly paying off its suppliers. This could indicate strong liquidity and good relationships with suppliers. On the other hand, a very high ratio could also signal aggressive supplier payment terms which might strain relationships in the long term.
Overall, an analysis of the payables turnover ratio provides insight into Veeco Instruments Inc's management of its accounts payable and its relationships with suppliers. Further assessment of the company's financial health and overall performance would require consideration of additional financial metrics and qualitative factors.
Peer comparison
Dec 31, 2023