Onto Innovation Inc. (ONTO) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.69	$1.93	+14.2%	—	$343.1M	—
Q1 26	$1.42	$1.42	0.0%	—	$291.9M	—
Q4 25	$1.26	$1.26	0.0%	—	$266.9M	—
Q3 25	$0.87	$0.92	+5.7%	—	$218.2M	—
Q2 25	$1.28	$1.25	-2.3%	—	$253.6M	—
Q1 25	$1.47	$1.51	+2.7%	—	$266.6M	—
Q4 24	$1.41	$1.51	+7.1%	—	$263.9M	—
Q3 24	$1.32	$1.34	+1.5%	—	$252.2M	—
Q2 24	$1.2	$1.32	+10.0%	—	$242.3M	—
Q1 24	$1.08	$1.18	+9.3%	—	$228.8M	—
Q4 23	$1.01	$1.06	+5.0%	—	$218.9M	—
Q3 23	$0.95	$0.96	+1.1%	—	$207.2M	—
Q2 23	$0.84	$0.79	-6.0%	—	$190.7M	—
Q1 23	$0.91	$0.92	+1.1%	—	$199.2M	—
Q4 22	$1.34	$1.57	+17.2%	—	$253.3M	—
Q3 22	$1.31	$1.35	+3.1%	—	$254.3M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.78	—	—	$1B	—
FY24	—	$4.09	—	—	$987.3M	—
FY23	—	$2.47	—	—	$815.9M	—
FY22	—	$4.52	—	—	$1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$232.8M	$255.1M	$273.8M	$305.9M	$556.5M	$788.9M	$1B	$815.9M	$987.3M	$1B
YoY change	+5%	+9.59%	+7.33%	+11.7%	+81.9%	+41.8%	+27.4%	-18.8%	+21%	+1.82%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	232.8M	255.1M	273.8M	305.9M	556.5M	788.9M	1B	815.9M	987.3M	1B
Cost of revenue	109.2M	120.5M	125.5M	170.9M	278M	359.8M	466M	395.6M	472M	505.5M
Gross profit	123.6M	134.6M	148.3M	135M	278.5M	429.1M	539.2M	420.3M	515.3M	499.8M
Gross margin	53.1%	52.8%	54.2%	44.1%	50%	54.4%	53.6%	51.5%	52.2%	49.7%
Research & development	45M	37.7M	40M	48.4M	84.6M	96.1M	112M	104.4M	116.8M	132M
Selling, general & administrative	38.6M	48.7M	55.7M	81.3M	113.4M	125.2M	135.3M	144.9M	162M	177M
Operating expenses	83.5M	86.4M	95.7M	129.6M	198M	221.3M	247.2M	249.4M	278.8M	309M
Operating income	37.7M	46.3M	51.1M	-5M	26.7M	156.4M	236.7M	116.1M	187.1M	151.4M
Operating margin	16.2%	18.1%	18.7%	-1.65%	4.79%	19.8%	23.5%	14.2%	19%	15.1%
Non-operating income, net	15M	12.5M	56K	780K	-2.7M	-1.9M	-141K	-3.9M	-145K	-23.4M
Pretax income	49.9M	59.8M	53.3M	-597K	26.9M	155.7M	241.6M	132.6M	220.4M	162.9M
Income tax	12.9M	26.9M	8.3M	-2.5M	-4.2M	13.3M	18.3M	11.4M	18.8M	26.1M
Net income	37M	32.9M	45.1M	1.9M	31M	142.3M	223.3M	121.2M	201.7M	136.8M
Net margin	15.9%	12.9%	16.5%	0.62%	5.58%	18%	22.2%	14.9%	20.4%	13.6%
EBITDA	29.7M	39.7M	57.4M	10.7M	97.3M	224.2M	301.4M	187.4M	249.7M	234.6M
EPS	1.48	1.3	1.76	0.06	0.63	2.89	4.52	2.47	4.09	2.78
Diluted EPS	1.44	1.26	1.74	0.06	0.63	2.86	4.49	2.46	4.06	2.78

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	207.2M	218.9M	228.8M	242.3M	252.2M	263.9M	266.6M	253.6M	218.2M	266.9M	291.9M	343.1M
Cost of revenue	100.3M	110.9M	110.6M	114.1M	115.8M	131.5M	123.4M	131.5M	107.6M	143.1M	145.6M	159.9M
Gross profit	106.9M	108M	118.3M	128.2M	136.4M	132.4M	143.2M	122.1M	110.6M	123.8M	146.4M	183.3M
Gross margin	51.6%	49.3%	51.7%	52.9%	54.1%	50.2%	53.7%	48.2%	50.7%	46.4%	50.1%	53.4%
Research & development	26.1M	24M	26.6M	27M	28.3M	34.9M	28M	35.3M	32.5M	36.2M	35.1M	38.9M
Selling, general & administrative	32.9M	42.4M	35.9M	39.2M	41.9M	45M	43.6M	39.9M	41.9M	52.7M	52.9M	57.4M
Operating expenses	59M	66.4M	62.4M	66.3M	70.2M	79.8M	71.7M	75.2M	74.4M	88.9M	88M	96.2M
Operating income	34M	28.2M	42.7M	48.8M	53.1M	42.5M	63.1M	38.5M	27.8M	20.9M	38.7M	67.3M
Operating margin	16.4%	12.9%	18.7%	20.2%	21%	16.1%	23.7%	15.2%	12.7%	7.82%	13.3%	19.6%
Non-operating income, net	-1M	-860K	793K	-60K	-724K	-155K	-743K	-7.4M	-5.1M	-9.1M	-5.8M	-4.1M
Pretax income	38.7M	33.8M	50.9M	57.3M	61M	51.3M	71.7M	39.7M	32M	19.5M	38.1M	68.5M
Income tax	2.8M	3.5M	4M	4.3M	8M	2.5M	7.6M	5.8M	3.8M	9M	4.3M	8.4M
Net income	35.9M	30.3M	46.9M	52.9M	53.1M	48.8M	64.1M	33.9M	28.2M	10.5M	33.8M	60.1M
Net margin	17.3%	13.8%	20.5%	21.9%	21%	18.5%	24%	13.4%	12.9%	3.95%	11.6%	17.5%
EBITDA	52M	45.9M	58.6M	65.5M	70.8M	54.8M	76.7M	60.1M	45.6M	49.9M	69.9M	96.7M
EPS	0.73	0.62	0.95	1.07	1.07	0.99	1.3	0.69	0.58	0.21	0.68	1.22
Diluted EPS	0.73	0.61	0.94	1.07	1.07	0.98	1.3	0.69	0.57	0.21	0.67	1.21

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	—	—	5B	3.4B	7.5B	8.2B	7.8B	17.6B
Enterprise value	—	—	—	—	—	4.5B	2.8B	6.8B	7.4B	7.1B	13.7B
Shares outstanding	25.1M	25.4M	25.5M	29.7M	49.1M	49.2M	49.4M	49M	49.3M	49.1M	49.1M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	35	15.1	61.8	40.8	56.7	109.1
P/S	—	—	—	—	—	6.32	3.35	9.18	8.33	7.71	15.9
P/B	—	—	—	—	—	3.5	2.11	4.31	4.27	3.69	7.45
EV/EBITDA	—	—	—	—	—	20	9.42	36.3	29.6	30.4	44.4
EV/Sales	—	—	—	—	—	5.69	2.82	8.35	7.48	7.1	12.2
Earnings yield	—	—	—	—	—	2.86%	6.64%	1.62%	2.45%	1.76%	0.92%
FCF yield	—	—	—	—	—	3.27%	3.52%	2%	2.6%	3.87%	1.15%
PEG	—	—	—	—	—	—	—	—	—	—	1.42

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	53.1%	52.8%	54.2%	44.1%	50%	54.4%	53.6%	51.5%	52.2%	49.7%	53.4%
Operating margin	16.2%	18.1%	18.7%	-1.65%	4.79%	19.8%	23.5%	14.2%	19%	15.1%	23%
Net margin	15.9%	12.9%	16.5%	0.62%	5.58%	18%	22.2%	14.9%	20.4%	13.6%	11.8%
ROE	12.6%	9.88%	12.5%	0.15%	2.45%	9.98%	14%	6.98%	10.5%	6.51%	6.83%
ROA	10.9%	8.53%	10.8%	0.13%	2.11%	8.63%	12.4%	6.34%	9.53%	5.78%	4.81%
ROIC	16.6%	16.3%	23.1%	-0.52%	2.93%	15.3%	20.4%	10%	15.7%	8.59%	8.58%
Return on tangible assets	13.5%	10.2%	12.6%	2.11%	14.2%	30.7%	31.1%	12.8%	16.8%	28.3%	7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	7.3	7.61	7.8	7.48	6.09	6.14	7.07	8.69	8.69	5.79	9.73
Quick ratio	5.48	6.02	5.65	5.43	4.5	4.56	5.05	6.47	7	4.43	8.33
Debt / equity	0	—	0	0.02	0.02	0.01	0.01	0.01	0.01	0.01	0.77
Debt / assets	0	—	0	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.4
Net debt / EBITDA	-4.24	—	-3.05	-27.6	-3.62	-2.2	-1.74	-3.62	-3.35	-2.65	-1.57
Effective tax rate	25.9%	45%	15.5%	0%	0%	8.56%	7.55%	8.62%	8.52%	16%	16.1%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	9.27	10	10.7	10.3	11.3	16	20.3	16.7	20	20.5	22.7
EPS (basic)	1.48	1.3	1.76	0.06	0.63	2.89	4.52	2.47	4.09	2.78	2.78
EPS (diluted)	1.44	1.26	1.74	0.06	0.63	2.86	4.49	2.46	4.06	2.78	2.68
Book value per share	11.7	13.1	14.2	42.5	25.7	29	32.3	35.5	39	42.8	39.2
FCF per share	1.68	2.08	1.08	0.38	2.08	3.32	2.39	3.05	4.33	6.1	5.08
Cash per share	5.01	6.98	6.85	10.8	7.61	10.4	11.1	14.2	17.3	13	38.4
Capex per share	0.08	0.4	0.3	0.23	0.08	0.24	0.37	0.4	0.65	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.91%	4%	2.75%	2.22%	0.69%	1.53%	1.83%	2.42%	3.23%	—	—
Capex / operating cash flow	4.97%	16.1%	21.8%	35.7%	6.18%	8.24%	16%	10.6%	15%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$207.2M	$218.9M	$228.8M	$242.3M	$252.2M	$263.9M	$266.6M	$253.6M	$218.2M	$266.9M	$291.9M	$343.1M
YoY change	-18.5%	-13.6%	+14.9%	+27.1%	+21.7%	+20.6%	+16.5%	+4.65%	-13.5%	+1.11%	+9.51%	+35.3%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	125.7M	177.4M	175.1M	320.2M	373.7M	511.3M	547.8M	697.8M	852.3M	639.6M
Receivables	64.9M	65.3M	64.2M	123.7M	149.3M	177.2M	241.4M	226.6M	308.1M	268.9M
Inventory	65.5M	67.5M	96.8M	176.1M	191.2M	243.1M	324.3M	327.8M	287M	298.3M
Total current assets	262.6M	322.1M	350.9M	641.7M	731.7M	948.1M	1.1B	1.3B	1.5B	1.3B
Property, plant & equipment	11.9M	17.3M	18.9M	122M	107.6M	99.6M	112.7M	122M	137.8M	143.4M
Goodwill & intangibles	65.5M	62.3M	59.9M	1.4B	1.2B	1.2B	1.1B	966.4M	914.9M	1.9B
Total assets	338.7M	385.9M	418M	1.4B	1.5B	1.6B	1.8B	1.9B	2.1B	2.4B
Accounts payable	10.2M	13.5M	17M	27.7M	40.2M	53.3M	54.5M	49.9M	56.3M	107.7M
Short-term debt	0	—	—	4.9M	4.5M	4M	5.7M	5.5M	5.4M	6.2M
Total current liabilities	36M	42.3M	45M	85.7M	120.1M	154.5M	160.6M	147.7M	170.1M	218.9M
Long-term debt	—	—	0	20M	16.5M	13.8M	16.3M	14M	9.7M	11.3M
Total liabilities	45M	52.8M	56.2M	184.6M	203.4M	223.8M	198.4M	173.2M	191.2M	267.1M
Shareholders' equity	293.7M	333.2M	361.9M	1.3B	1.3B	1.4B	1.6B	1.7B	1.9B	2.1B
Total debt	0	—	0	24.9M	20.9M	17.7M	22M	19.5M	15.2M	17.5M
Net debt	-37.9M	—	-112.4M	-105.8M	-115.8M	-151.9M	-153.8M	-214M	-197.8M	-328.6M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	629.7M	697.8M	740.9M	786M	855.4M	852.3M	850.6M	894.9M	983.9M	639.6M	654.2M	1.9B
Receivables	209.5M	226.6M	231.9M	237.8M	253.7M	308.1M	291.6M	285.3M	260.2M	268.9M	306.6M	337.4M
Inventory	346.1M	327.8M	329.5M	319.7M	308.3M	287M	292.7M	270.2M	259.4M	298.3M	316M	379.2M
Total current assets	1.2B	1.3B	1.3B	1.4B	1.5B	1.5B	1.5B	1.5B	1.5B	1.3B	1.3B	2.6B
Property, plant & equipment	123.3M	122M	123.8M	131.7M	135.1M	137.8M	140.6M	145.3M	142.1M	143.4M	123.8M	123.7M
Goodwill & intangibles	993.1M	966.4M	940.1M	914M	887.8M	914.9M	898.1M	881.2M	864.3M	1.9B	1.8B	1.8B
Total assets	1.9B	1.9B	2B	2B	2.1B	2.1B	2.1B	2.1B	2.2B	2.4B	2.4B	3.7B
Accounts payable	44.5M	49.9M	55.9M	51.4M	48M	56.3M	55.4M	37.9M	52.9M	107.7M	105.5M	139.4M
Short-term debt	5.6M	5.5M	5.4M	5.6M	5.5M	5.4M	6M	5.3M	5.6M	6.2M	—	—
Total current liabilities	135.8M	147.7M	147.1M	148.4M	144.7M	170.1M	174.5M	155.8M	162.9M	218.9M	214.4M	271.6M
Long-term debt	15M	14M	12.8M	12.1M	10.9M	9.7M	8.7M	8.2M	8.4M	11.3M	—	1.5B
Total liabilities	166M	173.2M	171.8M	173.7M	169.8M	191.2M	195.4M	177M	184.5M	267.1M	264.2M	1.8B
Shareholders' equity	1.7B	1.7B	1.8B	1.8B	1.9B	1.9B	1.9B	2B	2B	2.1B	2.1B	1.9B
Total debt	20.6M	19.5M	18.1M	17.7M	16.4M	15.2M	14.6M	13.4M	14.1M	17.5M	—	1.5B
Net debt	-186M	-214M	-172.8M	-154.9M	-172.3M	-197.8M	-189.1M	-204.1M	-589M	-328.6M	—	218.5M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	37M	32.9M	45.1M	1.9M	31M	142.3M	223.3M	121.2M	201.7M	136.8M
Depreciation & amortization	6M	5.9M	6.4M	16.4M	67.6M	65.8M	64.7M	67.2M	62.3M	60.4M
Stock-based compensation	4.8M	5.7M	6.1M	10.6M	17.7M	19.5M	24.4M	25.5M	28.6M	27.6M
Change in working capital	-12.3M	1.3M	-26.7M	-23.5M	-58M	-71.6M	-162.9M	-7.2M	-54.4M	81.5M
Operating cash flow	42.8M	63.6M	34.6M	19.1M	62M	146.2M	115.4M	187.3M	212.4M	328.3M
Capital expenditure	-2.1M	-10.2M	-7.5M	-6.8M	-3.8M	-12M	-18.4M	-19.8M	-31.9M	—
Investing cash flow	26.5M	-31.5M	33.8M	4.1M	-48.6M	-141.8M	-55.7M	-103.4M	-226.5M	-93.1M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	-8M	0	-21.1M	-744K	-52M	0	-65.3M	-3.2M	-25.1M	-75M
Financing cash flow	-138.9M	-2.6M	-23.9M	-4.2M	-53.7M	-7.4M	-76.4M	-14.8M	-44.9M	-88.5M
Net change in cash	-69.7M	29.5M	44.5M	19M	-40.3M	-3M	-16.7M	69.1M	-59M	146.7M
Free cash flow	42.1M	53M	27.6M	11.3M	102.2M	163.2M	118.3M	149.4M	213.8M	299.8M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	35.9M	30.3M	46.9M	52.9M	53.1M	48.8M	64.1M	33.9M	28.2M	10.5M	33.8M	60.1M
Depreciation & amortization	17M	16.7M	16.5M	16.6M	17M	12.2M	12.8M	14.3M	13.4M	19.9M	25.5M	25.5M
Stock-based compensation	6M	5.6M	6.5M	8.2M	7.1M	6.8M	6.8M	6.7M	6.9M	7.2M	7M	10M
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	50.7M	51.4M	63.6M	72.4M	72.8M	58M	81.1M	57.9M	83.4M	95M	26.3M	61.5M
Capital expenditure	-7.6M	337K	-7M	-12.3M	-8M	-4.6M	-8.2M	—	—	—	—	—
Investing cash flow	-43.4M	-37.1M	-91.8M	-74.1M	-56.6M	22.7M	-21.8M	-29.2M	298.1M	-348.4M	-109M	-226.5M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	0	0	0	0	0	-25.1M	-75M	0	0	0	0	-205M
Financing cash flow	-917K	-393K	-9.1M	-8.9M	-1.2M	-25.7M	-83.7M	-3.7M	-199K	-945K	-6.7M	-217.1M
Net change in cash	6.4M	13.9M	-37.3M	-10.5M	15M	55M	-24.4M	25M	381.3M	-254.3M	-89.4M	-382.1M
Free cash flow	21M	59.1M	50.2M	53M	59.2M	51.4M	83.7M	44.2M	82M	89.9M	22.7M	57.9M

Onto Innovation Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement