Veeco Instruments Inc (VECO)
Financial leverage ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 1,229,040 | 1,128,180 | 898,976 | 898,064 | 818,088 |
| Total stockholders’ equity | US$ in thousands | 672,442 | 577,824 | 437,628 | 408,374 | 374,512 |
| Financial leverage ratio | 1.83 | 1.95 | 2.05 | 2.20 | 2.18 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $1,229,040K ÷ $672,442K
= 1.83
The financial leverage ratio of Veeco Instruments Inc has been on a declining trend over the past five years. The ratio decreased from 2.18 in 2019 to 1.83 in 2023. This indicates that the company has been relying less on debt financing relative to its equity, which can be seen as a positive signal of financial stability and lower financial risk. However, it is important to note that a financial leverage ratio of 1.83 in 2023 still suggests that the company is using debt to finance a significant portion of its operations, albeit at a lower level compared to previous years. Overall, the decreasing trend in the financial leverage ratio may imply that Veeco Instruments Inc is becoming less leveraged and potentially more financially sound.
Peer comparison
Dec 31, 2023