Veeco Instruments Inc (VECO)
Receivables 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 |
| Receivables | US$ in thousands | 103,018 | 122,393 | 130,140 | 120,091 | 124,221 | 142,985 | 126,881 | 114,479 | 109,609 | 101,759 | 112,412 | 93,591 | 79,991 | 80,212 | 67,291 | 84,251 | 45,666 | 72,731 | 58,949 | 74,860 |
| Receivables turnover | 6.35 | 5.19 | 4.83 | 5.26 | 5.11 | 4.37 | 4.72 | 5.04 | 5.03 | 5.39 | 4.55 | 4.93 | 5.41 | 5.08 | 6.02 | 4.84 | 8.82 | 5.34 | 6.89 | 6.23 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $654,666K ÷ $103,018K
= 6.35
The receivables turnover for Veeco Instruments Inc has fluctuated over the past eight quarters. As of Q4 2023, the ratio stands at 6.47, indicating that the company collects its accounts receivable approximately 6.47 times during the year. This represents an improvement from the previous quarter (Q3 2023) when the turnover was 5.28.
Compared to the same quarter in the previous year (Q4 2022), the receivables turnover has also increased from 5.20 to 6.47, showing a positive trend in the efficiency of collecting receivables. A higher receivables turnover ratio generally reflects that the company is collecting its outstanding receivables more quickly, which is often a positive sign of effective credit and collection policies.
However, it is also important to note that the ratio has been fluctuating over the quarters, reaching a low of 4.51 in Q3 2022 and a high of 6.47 in Q4 2023. This fluctuation could indicate changes in the company's sales patterns, credit policies, or customer payment behaviors.
Overall, the increasing trend in the receivables turnover ratio over the past year suggests that Veeco Instruments Inc has been improving its efficiency in managing and collecting its accounts receivable, which can have a positive impact on its cash flow and overall financial performance.
Peer comparison
Dec 31, 2023