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
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- Taiwan
- South Korea
- United States
- Japan
- China
- Southeast Asia
- Europe
| Region | FY2025 | 2024 | 2023 |
|---|---|---|---|
| Taiwan | $318.8M | $307.5M | $141.9M |
| South Korea | $279.4M | $285.7M | $169.3M |
| United States | $121.1M | $104.1M | $130.3M |
| Japan | $95.4M | $57.0M | $93.8M |
| China | $70.7M | $116.4M | $136.9M |
| Southeast Asia | $64.3M | $64.9M | $87.6M |
| Europe | $55.6M | $51.7M | $56.0M |
As the company reported it, from the “Segment Reporting and Geographic Information - Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
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.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $221.1M | $255.1M | $273.8M | $305.9M | $556.5M | $788.9M | $1.01B | $815.9M | $987.3M | $1.01B |
| Gross profit | $114.1M | $134.6M | $148.3M | $135.0M | $278.5M | $429.1M | $539.2M | $420.3M | $515.3M | $499.8M |
| Net income | $44.0M | $32.9M | $45.1M | $223.3M | $31.0M | $142.3K | $223.3K | $121.2K | $201.7K | $136.8K |
Recent filings and events
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event Item 8.01
- Results announced Item 2.02
- Material agreement signed Item 1.01
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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