Camtek Ltd. (CAMT) vs Onto Innovation Inc. (ONTO)

Camtek Ltd. and Onto Innovation Inc. are both Semiconductor Equipment & Materials companies. Onto Innovation Inc. is the larger, with a market value of $13.9B against $6.8B — 2.1× the size. Onto Innovation Inc. trades at the lower P/E: 107× against 193×. Camtek Ltd. grew revenue faster over the last twelve months: 11.8% against 8.08%. Onto Innovation Inc. has the higher net margin (11.8% vs 7.03%) and the lower return on invested capital (5.56% vs 13.0%). Across the 22 metrics below, Onto Innovation Inc. leads on 14 and Camtek Ltd. on 8.

Valuation

Metric CAMT ONTO Semiconductor Equipment & Materials median
P/E 193.49 106.93 54.39
P/S 13.60 12.69 6.08
P/B 9.66 7.39 4.89
Price to free cash flow 23.73 56.30 60.92
EV/EBITDA 54.51 63.89 39.95
EV/Sales 13.32 12.32 6.36
Earnings yield 0.52% 0.94% 1.14%
Free cash flow yield 4.21% 1.78% 1.28%

Profitability

Metric CAMT ONTO Semiconductor Equipment & Materials median
Gross margin 50.23% 50.36% 43.95%
Operating margin 23.46% 12.02% 10.32%
Net margin 7.03% 11.84% 7.45%
Free cash flow margin 0.00% 22.54% 6.77%
Return on equity 5.31% 6.82% 4.78%
Return on assets 3.07% 4.54% 3.62%
Return on invested capital 13.01% 5.56% 6.10%

Growth

Metric CAMT ONTO Semiconductor Equipment & Materials median
Revenue growth (TTM) 11.83% 8.08% 14.60%
EPS growth (last fiscal year) (57.02%) (31.53%) —
Revenue growth, 5-year CAGR 26.06% 12.55% 8.85%
Net income growth, 5-year CAGR 18.42% 34.54% 0.00%

Health

Metric CAMT ONTO Semiconductor Equipment & Materials median
Debt to equity 0.69 0.77 0.09
Current ratio 7.38 9.73 3.66
Net debt to EBITDA (1.06) (3.39) (0.49)

Dividend

Metric CAMT ONTO Semiconductor Equipment & Materials median
Dividend yield — — 0.85%
Payout ratio 0.00 0.00 0.00

Size

Metric CAMT ONTO Semiconductor Equipment & Materials median
Market cap 6.77b 13.94b 4.63b

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