Veeco Instruments Inc (VECO)
Working capital turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 717,301 | 709,094 | 701,653 | 687,415 | 666,435 | 646,310 | 640,857 | 643,215 | 646,137 | 645,310 | 623,643 | 605,988 | 583,276 | 569,250 | 531,082 | 483,375 | 454,163 | 428,419 | 425,295 | 424,480 |
| Total current assets | US$ in thousands | 764,532 | 760,977 | 718,195 | 715,894 | 706,278 | 720,800 | 709,154 | 643,270 | 668,901 | 649,703 | 569,284 | 569,950 | 549,387 | 653,504 | 638,624 | 618,167 | 586,931 | 572,485 | 538,375 | 500,490 |
| Total current liabilities | US$ in thousands | 192,282 | 215,167 | 203,973 | 234,359 | 218,033 | 267,786 | 282,298 | 267,175 | 257,904 | 260,185 | 200,270 | 220,696 | 189,204 | 187,222 | 179,413 | 163,695 | 146,681 | 146,934 | 127,483 | 128,509 |
| Working capital turnover | 1.25 | 1.30 | 1.36 | 1.43 | 1.36 | 1.43 | 1.50 | 1.71 | 1.57 | 1.66 | 1.69 | 1.74 | 1.62 | 1.22 | 1.16 | 1.06 | 1.03 | 1.01 | 1.04 | 1.14 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $717,301K ÷ ($764,532K – $192,282K)
= 1.25
Veeco Instruments Inc's working capital turnover has shown a fluctuating trend over the analyzed period, ranging from 1.01 to 1.74. The working capital turnover indicates how efficiently the company is utilizing its working capital to generate sales revenue. A higher turnover ratio generally signifies that the company is effectively using its working capital to support sales activities.
From March 31, 2020, to June 30, 2021, there was a gradual increase in the working capital turnover, suggesting improving efficiency in utilizing working capital. However, from September 30, 2021, to December 31, 2024, the ratio experienced a gradual decline, indicating a potential decrease in efficiency in this aspect.
Overall, the working capital turnover ratio of Veeco Instruments Inc has exhibited variability, which may warrant further investigation into the company's working capital management and operational efficiency to ensure sustainable performance in the future.
Peer comparison
Dec 31, 2024