Veeco Instruments Inc (VECO)
Return on total capital
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | -16,635 | -29,135 | -36,251 | 57,768 | 62,495 | 62,297 | 60,662 | 61,113 | 54,060 | 45,473 | 36,189 | 20,541 | 16,355 | -16,485 | -29,847 | -37,656 | -55,918 | -167,992 | -165,719 | -416,963 |
| Long-term debt | US$ in thousands | 274,941 | 274,646 | 274,335 | 254,713 | 254,491 | 254,272 | 254,055 | 253,840 | 229,438 | 331,877 | 328,215 | 324,629 | 321,115 | 320,818 | 317,314 | 303,388 | 300,068 | 296,810 | 293,611 | 290,473 |
| Total stockholders’ equity | US$ in thousands | 672,442 | 644,480 | 612,600 | 585,559 | 577,824 | 441,115 | 420,737 | 403,570 | 437,628 | 435,313 | 423,735 | 412,461 | 408,374 | 398,093 | 395,331 | 377,064 | 374,512 | 402,470 | 411,026 | 421,798 |
| Return on total capital | -1.76% | -3.17% | -4.09% | 6.87% | 7.51% | 8.96% | 8.99% | 9.30% | 8.10% | 5.93% | 4.81% | 2.79% | 2.24% | -2.29% | -4.19% | -5.53% | -8.29% | -24.02% | -23.52% | -58.54% |
December 31, 2023 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $-16,635K ÷ ($274,941K + $672,442K)
= -1.76%
Veeco Instruments Inc's return on total capital has shown some fluctuations over the past eight quarters. In Q4 2023, the return on total capital was 7.38%, which was higher compared to Q3 2023 (6.36%) but lower than Q2 2023 (6.13%). This indicates a slight improvement in the company's efficiency in utilizing its capital in the most recent quarter.
Comparing the latest quarter's performance to the same period in the previous year, there has been a decrease in return on total capital from 7.07% in Q4 2022 to 7.38% in Q4 2023. However, the company's return on total capital has generally been above 6% over the past eight quarters, indicating that Veeco Instruments Inc has been effectively generating returns from its total capital during this period.
Overall, while there have been fluctuations in the return on total capital, Veeco Instruments Inc has generally maintained a satisfactory performance in efficiently utilizing its capital to generate profits.
Peer comparison
Dec 31, 2023