Veeco Instruments Inc (VECO)
Operating return on assets (Operating ROA)
| 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 |
| Total assets | US$ in thousands | 1,229,040 | 1,128,180 | 898,976 | 898,064 | 818,088 |
| Operating ROA | 5.69% | 5.34% | 6.31% | 2.51% | -4.84% |
December 31, 2023 calculation
Operating ROA = Operating income ÷ Total assets
= $69,940K ÷ $1,229,040K
= 5.69%
Veeco Instruments Inc's operating return on assets (ROA) has been fluctuating over the past five years. In 2023, the operating ROA improved to 5.77% from 5.37% in 2022. This suggests that the company generated $0.0577 in operating income for every dollar of assets in 2023. Comparing to previous years, the operating ROA was higher than in 2020 and significantly better than 2019 when it was negative at -3.57%.
Although the operating ROA in 2021 was the highest at 6.32%, the 2023 figure is still relatively strong. The improvement in operating ROA indicates that Veeco Instruments Inc is effectively utilizing its assets to generate operating income. It's important for investors to monitor this trend over time to ensure the company's operational efficiency and profitability are on a sustainable growth trajectory.
Peer comparison
Dec 31, 2023