Veeco Instruments Inc (VECO)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 274,941 | 254,491 | 229,438 | 321,115 | 300,068 |
| Total assets | US$ in thousands | 1,229,040 | 1,128,180 | 898,976 | 898,064 | 818,088 |
| Debt-to-assets ratio | 0.22 | 0.23 | 0.26 | 0.36 | 0.37 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $274,941K ÷ $1,229,040K
= 0.22
Veeco Instruments Inc's debt-to-assets ratio has shown a decreasing trend over the past five years. The ratio decreased from 0.37 in 2019 to 0.22 in 2023. This indicates that the company has been reducing its reliance on debt financing in relation to its total assets. A declining debt-to-assets ratio can suggest improved financial stability and reduced financial risk for the company. It also indicates that a larger portion of the company's assets is funded by equity rather than debt. Overall, the decreasing trend in the debt-to-assets ratio for Veeco Instruments Inc signals positive financial management and a stronger balance sheet position over the years.
Peer comparison
Dec 31, 2023