Veeco Instruments Inc (VECO)
Working capital 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 current assets | US$ in thousands | 706,278 | 668,901 | 549,387 | 586,931 | 475,878 |
| Total current liabilities | US$ in thousands | 218,033 | 257,904 | 189,204 | 146,681 | 118,224 |
| Working capital turnover | 1.14 | 1.54 | 1.53 | 0.96 | 1.11 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $557,574K ÷ ($706,278K – $218,033K)
= 1.14
Veeco Instruments Inc's working capital turnover has fluctuated over the past five years, ranging from 1.03 to 1.62. A higher working capital turnover ratio indicates that the company is efficient in generating revenue from its working capital. In this case, we see a peak in the ratio in 2021 at 1.62, suggesting that Veeco was effectively utilizing its working capital to generate sales. However, there was a decrease in the ratio in 2020, which may indicate some inefficiencies in managing working capital during that period. Despite the fluctuations, the company has generally maintained a working capital turnover above 1, indicating that it has been able to effectively leverage its working capital to generate revenue. Further analysis would be needed to understand the specific factors influencing these fluctuations in the working capital turnover ratio.
Peer comparison
Dec 31, 2023