Veeco Instruments Inc (VECO)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | 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 |
| Receivables | US$ in thousands | 103,018 | 124,221 | 109,609 | 79,991 | 45,666 |
| Total current liabilities | US$ in thousands | 218,033 | 257,904 | 189,204 | 146,681 | 118,224 |
| Quick ratio | 1.87 | 1.65 | 1.76 | 2.72 | 2.45 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($158,781K
+ $146,664K
+ $103,018K)
÷ $218,033K
= 1.87
The quick ratio, also known as the acid-test ratio, measures a company's ability to meet its short-term obligations with its most liquid assets. Veeco Instruments Inc's quick ratio has shown a fluctuating trend over the past five years.
In 2023, the quick ratio stands at 2.15, indicating that Veeco Instruments Inc had $2.15 of liquid assets available to cover every $1 of current liabilities. This is an improvement from the previous year, suggesting a better ability to meet short-term obligations.
Comparing to 2022 and 2021, where the quick ratios were 1.79 and 2.00 respectively, the current ratio has improved. However, it is still lower than the quick ratio in 2020 and 2019, which were 3.00 and 2.80 respectively. These figures suggest that in 2023, Veeco Instruments Inc may have a reduced ability to cover short-term obligations compared to the two previous years.
Overall, the quick ratio of Veeco Instruments Inc indicates a fluctuating trend in its liquidity position over the past five years. It is essential for the company to maintain a healthy quick ratio to ensure it can meet its short-term liabilities efficiently.
Peer comparison
Dec 31, 2023