Veeco Instruments Inc (VECO)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 158,781 | 154,925 | 119,747 | 129,625 | 129,294 |
| Short-term investments | US$ in thousands | 146,664 | 147,488 | 104,181 | 189,771 | 115,252 |
| Total current liabilities | US$ in thousands | 218,033 | 257,904 | 189,204 | 146,681 | 118,224 |
| Cash ratio | 1.40 | 1.17 | 1.18 | 2.18 | 2.07 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($158,781K
+ $146,664K)
÷ $218,033K
= 1.40
Veeco Instruments Inc's cash ratio has fluctuated over the past five years, ranging from 1.31 to 2.46. The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to pay off current liabilities using available cash.
In 2023, the cash ratio stands at 1.68, showing an improvement compared to the previous year. This suggests that Veeco Instruments Inc has a better liquidity position in 2023, although it is lower than the levels seen in 2020 and 2019. The downward trend from 2020 to 2022 could indicate a temporary strain on the company's liquidity, but the recovery in 2023 is a positive sign.
Overall, Veeco Instruments Inc's cash ratio for 2023 indicates a moderate ability to meet its short-term obligations with cash on hand, but it is essential to monitor future trends to ensure sustained liquidity levels.
Peer comparison
Dec 31, 2023