Veeco Instruments Inc (VECO)
Return on total capital
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 79,879 | 99,993 | 97,741 | -3,079 | -16,569 | -29,099 | -36,251 | 57,768 | 62,495 | 62,269 | 60,645 | 61,096 | 54,041 | 50,175 | 40,649 | 24,939 | 20,580 | -16,952 | -30,094 | -37,796 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 770,770 | 746,519 | 715,013 | 687,910 | 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 |
| Return on total capital | 10.36% | 13.39% | 13.67% | -0.45% | -2.46% | -4.52% | -5.92% | 9.87% | 10.82% | 14.12% | 14.41% | 15.14% | 12.35% | 11.53% | 9.59% | 6.05% | 5.04% | -4.26% | -7.61% | -10.02% |
December 31, 2024 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $79,879K ÷ ($—K + $770,770K)
= 10.36%
Veeco Instruments Inc's return on total capital has exhibited significant fluctuations over the past few years. Starting from negative values in early 2020, the company gradually improved its performance, achieving positive returns by the end of 2020. Subsequently, Veeco's return on total capital demonstrated a positive trajectory, reaching its peak at 15.14% in March 2022.
However, the company experienced a decline in performance in mid-2023, with return on total capital dropping into negative territory. The situation improved thereafter, with Veeco registering double-digit returns in mid-2024. Despite the slight decrease by the end of 2024, the company managed to maintain a solid return on total capital above 10%.
Overall, the trend indicates that Veeco Instruments Inc has exhibited fluctuations in its return on total capital over the reviewed period, showcasing both periods of growth and challenges. Investors and stakeholders may want to closely monitor the company's financial performance to assess its capital efficiency and sustainability.
Peer comparison
Dec 31, 2024