Veeco Instruments Inc (VECO)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | -30,368 | 166,942 | 26,038 | -8,391 | -78,733 |
| Total assets | US$ in thousands | 1,229,040 | 1,128,180 | 898,976 | 898,064 | 818,088 |
| ROA | -2.47% | 14.80% | 2.90% | -0.93% | -9.62% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $-30,368K ÷ $1,229,040K
= -2.47%
Veeco Instruments Inc's Return on Assets (ROA) has fluctuated significantly over the past five years. In 2023, the company experienced a negative ROA of -2.47%, which indicates that its net income generated from its assets was insufficient to cover its total asset base. This is a concerning trend as it suggests a potential inefficiency in asset utilization or profitability issues.
In contrast, in 2022, Veeco Instruments Inc achieved a relatively high ROA of 14.80%, reflecting a strong performance in converting its assets into profits. This signifies effective management of resources and a favorable return on investment for the company's stakeholders.
In 2021, the ROA decreased to 2.90%, indicating a slight decline in asset efficiency compared to the previous year. However, the company still managed to generate a positive return on its assets.
The negative ROA of -0.93% in 2020 suggests that Veeco Instruments Inc faced challenges in profitability and asset management during that year. This could be a result of economic downturns or operational inefficiencies impacting the company's financial performance.
In 2019, the ROA was significantly negative at -9.62%, indicating a poor performance in utilizing assets to generate profits. This could signal potential financial distress or strategic missteps within the company.
Overall, Veeco Instruments Inc's ROA has been volatile over the past five years, with periods of both strong and weak asset efficiency and profitability. Continued monitoring and analysis of the company's ROA trends will be essential to assess its financial health and performance in the future.
Peer comparison
Dec 31, 2023