ONTO INNOVATION INC. ONTO
Onto Innovation® is a worldwide leader in the design, development, manufacture and support of metrology and inspection tools for the semiconductor industry, including process control tools that perform optical metrology and inspection on patterned and unpatterned wafers, including macro defect inspection of both 2D and 3D wafer features, wafer substrate and panel substrate lithography systems, and process control analytical software. Our products are primarily used by silicon wafer manufacturers, semiconductor integrated circuit ("IC") fabricators, and advanced packaging manufacturers operating in the semiconductor market. Our products are also used for process control in a number of other specialty device manufacturing markets, including light emitting diodes ("LED"), vertical-cavity surface-emitting lasers ("VCSEL"), micro-electromechanical systems ("MEMS"), CMOS image sensors ("CIS"), silicon and compound semiconductor (SiC and GaN) power devices, analog devices, RF filters, data storage, and certain industrial and scientific applications.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.01B | $987.3M | $815.9M | $1.01B | $788.9M | $556.5M | $305.9M | $273.8M | $255.1M | $221.1M |
| Cost of revenue | $505.5M | $472.0M | $395.6M | $466.0M | $359.8M | $278.0M | $170.9M | $125.5M | $120.5M | $107.0M |
| Gross profit | $499.8M | $515.3M | $420.3M | $539.2M | $429.1M | $278.5M | $135.0M | $148.3M | $134.6M | $114.1M |
| R&D | $132.0M | $113.9M | $104.4M | $112.0M | $96.1M | $84.6M | $48.4M | $40.0M | $37.7M | $31.4M |
| SG&A | $107.1M | $79.9M | $79.6M | $69.6M | $68.0M | $65.3M | $53.0M | $33.7M | $27.9M | $23.4M |
| Total operating expenses | $366.8M | $328.2M | $304.2M | $302.5M | $272.7M | $251.8M | $140.1M | $97.2M | $75.3M | $85.0M |
| Operating income | $132.9M | $187.1M | $116.1M | $236.7M | -$156.4M | -$26.7M | -$5.0M | $51.1M | $59.3M | $29.1M |
| Interest expense | — | — | — | — | — | — | — | $331.0K | $92.0K | $285.0K |
| Pre-tax income | $162.9M | $220.4M | $132.6M | $241.6M | -$155.7M | -$26.9M | -$597.0K | $53.3M | $59.8M | $29.1M |
| Income tax | $26.1M | $18.8M | $11.4M | $18.2M | $13.3M | $4.2M | $18.2M | $8.2M | $26.9M | $14.9M |
| Net income | $136.8K | $201.7K | $121.2K | $223.3K | $142.3K | $31.0M | $223.3M | $45.1M | $32.9M | $44.0M |
| EPS, basic | 2.78 | 4.09 | 2.47 | 4.52 | 2.89 | 0.63 | 0.06 | 1.77 | 1.30 | 1.79 |
| EPS, diluted | 2.78 | 4.06 | 2.46 | 4.49 | 2.86 | 0.63 | 0.06 | 1.74 | 1.27 | 1.75 |
| Shares, diluted (wtd. avg.) | $49.3M | $49.7M | $49.3M | $49.8M | $49.7M | $49.5M | $49.8M | $25.9M | $25.9M | $25.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $346.1M | $212.9M | $233.5M | $175.9M | $169.6M | $136.7M | $130.7M | $112.4M | $67.8M | $47.1M |
| Short-term investments | $293.5M | $639.4M | $464.3M | $371.9M | $341.7M | $237.0M | $189.6M | $62.7M | $82.1M | $82.9M |
| Receivables | $268.9M | $308.1M | $226.6M | $241.4M | $177.2M | $149.3M | $123.7M | $64.2M | $62.5M | $39.5M |
| Inventory | $298.3M | $287.0M | $327.8M | $324.3M | $243.1M | $191.2M | $176.1M | $96.8M | $52.9M | $38.8M |
| Total current assets | $1.27B | $1.48B | $1.28B | $1.13B | $948.1M | $731.7M | $641.7M | $350.9M | $240.1M | $216.4M |
| Property, plant and equipment | $127.2M | $123.9M | $103.6M | $92.0M | $82.1M | $92.0M | $98.4M | $18.9M | $44.8M | $44.2M |
| Goodwill | $644.0M | $330.0M | $315.8M | $315.8M | $315.8M | $306.6M | $315.8M | $22.5M | $22.5M | $8.9M |
| Other intangibles | $298.1M | $127.5M | $167.4M | $222.2M | $277.3M | $222.2M | $372.0M | $7.4M | $2.2M | $412.0K |
| Total assets | $2.37B | $2.12B | $1.91B | $1.79B | $1.65B | $1.47B | $1.45B | $418.0M | $309.7M | $287.8M |
| Accounts payable | $107.7M | $56.3M | $49.9M | $54.5M | $53.3M | $40.2M | $27.7M | $17.0M | $13.9M | $11.3M |
| Total current liabilities | $218.9M | $170.1M | $147.7M | $160.6M | $154.5M | $120.1M | $85.7M | $45.0M | $44.1M | $42.0M |
| Total liabilities | $267.1M | $191.2M | $173.2M | $198.4M | $223.8M | $203.4M | $184.6M | $56.2M | $47.3M | $44.1M |
| Retained earnings | $743.8M | $664.5M | $482.4M | $362.8M | $168.5M | $26.2M | -$4.9M | -$6.8M | $9.1M | -$22.2M |
| Total equity | $2.10B | $1.93B | $1.74B | $1.60B | $1.43B | $1.26B | $1.26B | $361.9M | $333.2M | $293.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $328.3M | $245.7M | $172.0M | $136.7M | $175.3M | $106.0M | $18.1M | $35.1M | $64.2M | $45.7M |
| Depreciation and amortisation | $21.0M | $12.9M | $12.4M | $9.4M | $14.4M | $13.8M | $6.0M | $4.8M | $4.0M | $8.3M |
| Stock-based compensation | $27.6M | $28.6M | $25.5M | $24.4M | $19.5M | $17.7M | $10.6M | $6.1M | $5.7M | $7.7M |
| Capital expenditure | $28.5M | $31.9M | $22.6M | $18.4M | $12.0M | $3.8M | $6.8M | $7.5M | $10.2M | $4.0M |
| Investing cash flow | -$121.6M | -$226.5M | -$103.4M | -$55.7M | -$141.8M | $48.6M | $4.1M | $33.8M | -$32.5M | -$42.1M |
| Financing cash flow | -$75.2M | -$35.7M | -$9.5M | -$68.3M | $2.7M | -$53.7M | -$4.2M | -$23.9M | -$2.6M | $5.3M |
| Buybacks | $75.0M | $25.1M | $3.2M | $65.3M | $0 | $52.0M | $744.0K | $21.1M | $27.0M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-143699.
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