Veeco Instruments Inc (VECO)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 557,574 | 634,627 | 550,888 | 421,583 | 397,264 |
| Total assets | US$ in thousands | 1,229,040 | 1,128,180 | 898,976 | 898,064 | 818,088 |
| Total asset turnover | 0.45 | 0.56 | 0.61 | 0.47 | 0.49 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $557,574K ÷ $1,229,040K
= 0.45
Veeco Instruments Inc's total asset turnover ratio has fluctuated over the past five years. The ratio decreased from 0.51 in 2019 and 2020 to 0.54 in 2023, indicating that the company generated $0.54 in revenue for every $1 of assets during that year. In 2021, the ratio increased to 0.65, signifying an improvement in the company's efficiency in generating sales from its assets. However, the ratio decreased slightly to 0.57 in 2022. Overall, the trend in total asset turnover suggests some variability in how effectively Veeco is utilizing its assets to generate revenue, with a recent improvement in 2021 but some fluctuation in other years. Further analysis is needed to understand the specific factors driving these changes and to assess the company's long-term performance.
Peer comparison
Dec 31, 2023