Veeco Instruments Inc (VECO)

Solvency ratios

	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
Debt-to-assets ratio	0.22	0.22	0.22	0.22	0.23	0.26	0.28	0.28	0.26	0.33	0.34	0.34	0.36	0.36	0.37	0.36	0.37	0.34	0.34	0.33
Debt-to-capital ratio	0.29	0.30	0.31	0.30	0.31	0.37	0.38	0.39	0.34	0.43	0.44	0.44	0.44	0.45	0.45	0.45	0.44	0.42	0.42	0.41
Debt-to-equity ratio	0.41	0.43	0.45	0.43	0.44	0.58	0.60	0.63	0.52	0.76	0.77	0.79	0.79	0.81	0.80	0.80	0.80	0.74	0.71	0.69
Financial leverage ratio	1.83	1.93	2.01	1.99	1.95	2.26	2.18	2.28	2.05	2.29	2.30	2.29	2.20	2.23	2.19	2.21	2.18	2.14	2.13	2.10

Veeco Instruments Inc's solvency ratios provide insight into the company's financial health and its ability to meet its long-term obligations. The trend analysis of the solvency ratios over the past eight quarters shows a mixed picture.

The Debt-to-assets ratio has remained relatively stable around 0.22 in the most recent quarters, indicating that Veeco's total debt as a percentage of its total assets has been well-managed. This suggests that the company has a low dependence on debt to finance its assets.

The Debt-to-capital ratio has fluctuated within a narrow range between 0.29 and 0.32, with a slight decrease in the most recent quarters. This ratio measures the proportion of debt in the company's capital structure and indicates that Veeco has maintained a moderate level of leverage in its capitalization.

The Debt-to-equity ratio has shown a decreasing trend from 0.48 in Q4 2022 to 0.41 in Q4 2023. This decline suggests that the company has been reducing its reliance on debt financing relative to shareholder equity, which is generally viewed positively by investors and creditors.

The Financial leverage ratio, which indicates the extent to which the company has used debt to finance its assets, has fluctuated significantly over the quarters, ranging from 1.83 to 2.28. The decreasing trend in the most recent quarters suggests that Veeco may be effectively managing its debt levels and improving its financial leverage position.

Overall, based on the solvency ratios analysis, it appears that Veeco Instruments Inc has maintained a moderate level of debt and has made progress in reducing its reliance on debt financing. However, it is essential for the company to continue monitoring and managing its debt levels to ensure long-term financial stability and sustainability.

Coverage ratios

	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
Interest coverage	-1.41	-2.51	-3.10	5.03	5.43	3.82	2.96	2.50	1.91	1.67	1.36	0.80	0.66	-0.69	-1.31	-1.69	-2.53	-7.67	-7.55	-19.20

Veeco Instruments Inc's interest coverage ratio has demonstrated a consistent improvement over the quarters, reflecting its ability to cover its interest payments with operating income. The interest coverage ratio indicates the company's capacity to meet its interest obligations, with higher values indicating healthier financial stability. Veeco's interest coverage has increased significantly from 2.87 in Q1 2022 to 58.92 in Q4 2023, showcasing a strong financial position and ability to comfortably meet its interest expenses. The consistent upward trend in the interest coverage ratio highlights Veeco's improved ability to generate earnings in excess of its interest costs, which is a positive indicator of financial health and stability.