Veeco Instruments Inc (VECO)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| 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 |
| Current ratio | 3.24 | 2.59 | 2.90 | 4.00 | 4.03 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $706,278K ÷ $218,033K
= 3.24
Veeco Instruments Inc's current ratio has exhibited some fluctuations over the past five years. The ratio increased from 4.03 in 2019 to 4.00 in 2020, indicating a strong ability to cover its short-term obligations with current assets. However, in 2021, the current ratio decreased to 2.90, suggesting a potential decrease in liquidity. The ratio then improved in 2022 to 2.59 but saw a significant uptick to 3.24 in 2023, indicating an improvement in the company's short-term liquidity position. Overall, while there have been variations, the current ratio has generally remained above 2.0, reflecting Veeco Instruments Inc's ability to meet its short-term financial obligations with current assets.
Peer comparison
Dec 31, 2023