Veeco Instruments Inc (VECO)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 145,595 | 163,228 | 174,453 | 173,998 | 159,120 | 156,419 | 180,524 | 140,721 | 154,925 | 169,111 | 116,916 | 127,624 | 119,747 | 121,602 | 114,747 | 140,733 | 129,625 | 147,588 | 188,203 | 162,325 |
| Short-term investments | US$ in thousands | 198,719 | 157,534 | 130,696 | 122,886 | 146,664 | 130,117 | 105,875 | 112,170 | 147,488 | 101,862 | 113,159 | 103,277 | 104,181 | 213,985 | 214,635 | 186,142 | 189,771 | 161,585 | 112,279 | 79,429 |
| 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 |
| Cash ratio | 1.79 | 1.49 | 1.50 | 1.27 | 1.40 | 1.07 | 1.01 | 0.95 | 1.17 | 1.04 | 1.15 | 1.05 | 1.18 | 1.79 | 1.84 | 2.00 | 2.18 | 2.10 | 2.36 | 1.88 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($145,595K
+ $198,719K)
÷ $192,282K
= 1.79
The cash ratio, which is a liquidity ratio that measures a company's ability to cover its short-term liabilities with its most liquid assets (cash and cash equivalents), for Veeco Instruments Inc has exhibited fluctuations over the reported periods.
Veeco's cash ratio peaked at 2.36 on June 30, 2020, indicating a strong ability to meet short-term obligations with readily available cash. However, the ratio gradually declined over the subsequent periods, reaching its lowest level of 0.95 on March 31, 2023. This downward trend suggests a potential decrease in the company's liquid assets relative to its short-term liabilities.
The cash ratio recovered somewhat in the following periods, showing a slight improvement. As of December 31, 2024, the ratio stood at 1.79, indicating that Veeco had sufficient cash reserves to cover approximately 1.79 times its short-term financial obligations.
Overall, while there have been fluctuations in Veeco's cash ratio over the observation period, the company has generally maintained a reasonable level of liquidity, although there were periods of concern in terms of its ability to cover short-term liabilities with cash and cash equivalents. As such, further analysis of the company's liquidity management and cash flow trends may be warranted to assess its financial health and short-term solvency.
Peer comparison
Dec 31, 2024