| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | — | — | — | — | — | 1 | — |
| total | individual payouts | |
|---|---|---|
| 2023 | ‡‡‡ |
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | ‡‡‡ |
|
| 2019 | ‡‡‡ |
|
| 2017 | ‡‡‡ |
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 697.81 | 852.33 | 639.62 | 1,882.15 |
| Receivables | 226.56 | 308.14 | 268.93 | 337.38 |
| Inventory | 327.77 | 286.98 | 298.26 | 379.24 |
| Other | — | — | — | — |
| 1,283.27 | 1,477.52 | 1,268.04 | 2,641.94 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 49.87 | 56.26 | 107.69 | 139.43 |
| ST’ Debt | — | — | — | — |
| Other | 31.03 | 30.03 | 30.94 | 41.01 |
| 147.73 | 170.09 | 218.95 | 271.65 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 291.95 | 343.13 | — | — |
—
|
| ’25 | 266.61 | 253.60 | 218.19 | 266.87 |
1,005.26
|
| ’24 | 228.85 | 242.33 | 252.21 | 263.94 |
987.32
|
| ’23 | 199.17 | 190.66 | 207.19 | 218.86 |
815.87
|
| ’22 | 241.35 | 256.31 | 254.25 | 253.27 |
1,005.18
|
| ’21 | 169.28 | 193.39 | 200.59 | 225.64 |
788.90
|
| ’20 | 139.93 | 134.95 | 126.49 | 155.13 |
556.50
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 26.32 | 61.51 | — | — |
—
|
| ’25 | 91.98 | 57.94 | 83.40 | 95.00 |
328.32
|
| ’24 | 57.13 | 65.30 | 67.25 | 56.00 |
245.68
|
| ’23 | 50.07 | 31.69 | 28.63 | 61.59 |
171.97
|
| ’22 | 45.46 | 9.93 | 31.82 | 49.50 |
136.70
|
| ’21 | 51.00 | 25.43 | 49.85 | 49.00 |
175.28
|
| ’20 | 8.90 | 37.97 | 25.99 | 33.13 |
105.98
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 22.74 | 57.85 | — | — |
—
|
| ’25 | 83.75 | 44.17 | 82.02 | 89.87 |
299.80
|
| ’24 | 50.16 | 53.05 | 59.20 | 51.37 |
213.77
|
| ’23 | 42.21 | 27.08 | 20.99 | 61.92 |
152.20
|
| ’22 | 42.96 | 5.52 | 28.94 | 40.88 |
118.30
|
| ’21 | 47.12 | 19.75 | 48.23 | 48.14 |
163.24
|
| ’20 | 7.90 | 36.36 | 25.21 | 32.69 |
102.16
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 0.67 | 1.21 | — | — |
—
|
| ’25 | 1.30 | 0.69 | 0.57 | 0.21 |
2.78
|
| ’24 | 0.94 | 1.07 | 1.07 | 0.98 |
4.06
|
| ’23 | 0.59 | 0.53 | 0.73 | 0.61 |
2.46
|
| ’22 | 1.07 | 1.03 | 1.05 | 1.34 |
4.49
|
| ’21 | 0.49 | 0.71 | 0.73 | 0.94 |
2.86
|
| ’20 | (0.09) | 0.15 | 0.16 | 0.40 |
0.63
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 56.02 | 67.55 | 134.11 | 85.88 | — | — | — |
Low Price
|
| — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 106.09 | 158.50 | 238.93 | 228.42 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,636 | 1,497 | 1,551 | 1,615 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.61 | 0.55 | 0.64 | 0.62 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,005.18 | 815.87 | 987.32 | 1,005.26 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 53.64% | 51.51% | 52.19% | 49.72% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 241.58 | 132.58 | 220.45 | 162.90 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 24.03% | 16.25% | 22.33% | 16.20% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 223.33 | 121.16 | 201.67 | 136.76 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 64.66 | 62.45 | 55.11 | 55.71 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 20.34 | 16.66 | 20.01 | 20.46 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 4.52 | 2.47 | 4.09 | 2.78 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.77 | 3.51 | 4.98 | 6.68 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.37) | (0.40) | (0.65) | (0.58) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.39 | 3.11 | 4.33 | 6.10 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 32.30 | 35.46 | 39.03 | 42.76 | ‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 49.42 | 48.97 | 49.34 | 49.12 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 15.08 | 58.30 | 40.85 | 56.78 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.35 | 8.68 | 8.33 | 7.71 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.11 | 4.08 | 4.27 | 3.69 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.83 | 7.85 | 7.49 | 7.10 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 24.02 | 42.07 | 34.58 | 23.80 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 136.70 | 171.97 | 245.68 | 328.32 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (18.40) | (19.77) | (31.90) | (28.51) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 118.30 | 152.20 | 213.77 | 299.80 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 974.31 | 1,135.54 | 1,307.43 | 1,049.09 | — | — | — |
Working Cap'
|
| — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 22.00 | — | — | — | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (525.78) | (697.81) | (852.33) | (639.62) | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,596.43 | 1,736.54 | 1,925.88 | 2,100.65 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 12.97% | 6.54% | 10.02% | 6.10% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 13.82% | 6.98% | 10.89% | 5.69% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14.78% | 7.27% | 11.01% | 6.79% | — | — | — |
ROE
|
Onto Innovation Inc. (ONTO) has demonstrated resilient growth in the volatile semiconductor sector, with revenue surging 78% from $556 million in 2020 to nearly $987 million in 2024, driven by demand for its metrology and inspection tools in AI, 5G, and advanced chip nodes. Post-merger efficiencies have boosted revenue per employee 43% to $637,000, stabilized gross margins at 52%, and propelled net income up 550% to $202 million, alongside strong cash generation—operating cash flow doubled to $246 million and a robust net cash position of $852 million provides a solid balance sheet buffer against downturns.
While stock performance has mirrored this momentum, rising over 600% from pandemic lows to 2024 highs near $239, valuations remain reasonable at 41x forward P/E and 8.3x P/S, with projections for 18% revenue CAGR through 2027 amid AI tailwinds and the CHIPS Act. However, cyclical risks persist, as seen in the 2023 revenue dip, and absent insider buying tempers enthusiasm—investors should weigh these against ONTO’s diversification and fortress-like finances before committing.
The full analysis explores these dynamics in depth, including detailed projections, peer comparisons, and risk mitigations, offering a balanced view for cautious growth seekers.
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