Veeco Instruments Inc (VECO)
Total asset 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 |
| Total assets | US$ in thousands | 1,229,040 | 1,246,230 | 1,228,450 | 1,167,250 | 1,128,180 | 996,617 | 916,652 | 920,364 | 898,976 | 997,808 | 975,509 | 945,242 | 898,064 | 889,625 | 865,070 | 832,886 | 818,088 | 862,276 | 875,863 | 885,594 |
| Total asset turnover | 0.53 | 0.51 | 0.51 | 0.54 | 0.56 | 0.63 | 0.65 | 0.63 | 0.61 | 0.55 | 0.52 | 0.49 | 0.48 | 0.46 | 0.47 | 0.49 | 0.49 | 0.45 | 0.46 | 0.53 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $654,666K ÷ $1,229,040K
= 0.53
Veeco Instruments Inc's total asset turnover ratio has been fluctuating over the past eight quarters. The ratio indicates how efficiently the company is utilizing its assets to generate revenue. In Q4 2023, the total asset turnover ratio was 0.54, slightly higher than the previous quarter at 0.52. This suggests that Veeco generated $0.54 in sales for every $1 of assets it possessed during that period.
Looking back over the past few quarters, the company's total asset turnover has shown a gradual decline from 0.66 in Q1 2022 to 0.54 in Q4 2023. This trend may indicate a potential inefficiency in asset utilization or a slowdown in sales relative to the growth in total assets. It is important for Veeco to closely monitor and analyze the factors contributing to this decline in the total asset turnover ratio to ensure optimal asset management and sustainable growth in the future.
Peer comparison
Dec 31, 2023