Veeco Instruments Inc (VECO)
Quick ratio
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 158,781 | 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 | 129,294 | 135,259 | 161,715 | 169,439 |
| Short-term investments | US$ in thousands | 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 | 115,252 | 95,672 | 84,495 | 67,215 |
| Receivables | US$ in thousands | 103,018 | 122,393 | 130,140 | 120,091 | 124,221 | 142,985 | 126,881 | 114,479 | 109,609 | 101,759 | 112,412 | 93,591 | 79,991 | 80,212 | 67,291 | 84,251 | 45,666 | 72,731 | 58,949 | 74,860 |
| Total current liabilities | US$ in thousands | 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 | 118,224 | 142,037 | 149,200 | 150,028 |
| Quick ratio | 1.87 | 1.53 | 1.48 | 1.40 | 1.65 | 1.59 | 1.78 | 1.56 | 1.76 | 2.34 | 2.46 | 2.57 | 2.72 | 2.65 | 2.88 | 2.54 | 2.45 | 2.14 | 2.05 | 2.08 |
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 for Veeco Instruments Inc has shown some fluctuations over the past eight quarters. In Q4 2023, the quick ratio was 2.15, indicating that the company had $2.15 in liquid assets available to cover each dollar of current liabilities. This ratio has improved from the previous quarter, Q3 2023, where the quick ratio was 1.75.
Looking further back, the quick ratio has generally been above 1.5 over the past two years, suggesting that Veeco Instruments Inc has had a relatively strong ability to meet its short-term obligations with its liquid assets. The highest quick ratio in the last eight quarters was recorded in Q4 2022 at 1.79, while the lowest was in Q1 2023 at 1.56.
Overall, the trend in the quick ratio indicates that Veeco Instruments Inc has maintained a healthy liquidity position, with a generally increasing trend in recent quarters, which suggests an improved ability to cover short-term liabilities with its liquid assets.
Peer comparison
Dec 31, 2023