Veeco Instruments Inc (VECO)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 69,940 | 60,296 | 56,710 | 22,565 | -39,578 |
| Revenue | US$ in thousands | 557,574 | 634,627 | 550,888 | 421,583 | 397,264 |
| Operating profit margin | 12.54% | 9.50% | 10.29% | 5.35% | -9.96% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $69,940K ÷ $557,574K
= 12.54%
Veeco Instruments Inc's operating profit margin has shown fluctuating trends over the past five years. In 2023, the operating profit margin improved to 10.65%, indicating that the company generated 10.65 cents of operating profit for every dollar of sales. This represents a positive trend compared to 2022 and 2021, where the operating profit margins were 9.38% and 9.73% respectively.
The significant improvement in operating profit margin in 2023 suggests that the company may have effectively managed its operating expenses or increased its sales revenue. This positive trend reflects a more efficient operational performance compared to the previous years.
In 2020, Veeco Instruments Inc experienced a lower operating profit margin of 5.22%, indicating a potential struggle in generating profits from its core business activities. The company recorded a negative operating profit margin of -6.96% in 2019, which indicates operating losses during that year.
Overall, the upward trend in the operating profit margin from 2020 to 2023 is a positive sign for Veeco Instruments Inc, showing improved profitability and operational efficiency. However, it is important for the company to sustain this positive trend in order to ensure long-term financial stability and growth.
Peer comparison
Dec 31, 2023