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KLA Corporation (KLAC) vs Onto Innovation Inc. (ONTO)

KLA Corporation and Onto Innovation Inc. are both Semiconductor Equipment & Materials companies. KLA Corporation is the larger, with a market value of $169.1B against $7.7B — 22.1× the size. KLA Corporation trades at the lower P/E: 32.7× against 58.7×. KLA Corporation grew revenue faster over the last twelve months: 15.8% against 8.08%. KLA Corporation has the higher net margin (36.3% vs 11.8%) and the higher return on invested capital (51.5% vs 5.56%). Across the 22 metrics below, KLA Corporation leads on 13 and Onto Innovation Inc. on 9.

Valuation

Metric KLAC ONTO Semiconductor Equipment & Materials median
P/E 32.72 58.67 33.70
P/S 11.83 6.96 4.22
P/B 26.30 4.06 2.94
Price to free cash flow 42.61 30.89 31.49
EV/EBITDA 26.34 34.20 22.64
EV/Sales 11.95 6.60 4.97
Earnings yield 3.06% 1.70% 2.02%
Free cash flow yield 2.35% 3.24% 2.27%

Profitability

Metric KLAC ONTO Semiconductor Equipment & Materials median
Gross margin 61.47% 50.36% 46.86%
Operating margin 42.64% 12.02% 12.02%
Net margin 36.25% 11.84% 10.16%
Free cash flow margin 27.83% 22.54% 6.73%
Return on equity 91.38% 6.82% 5.31%
Return on assets 30.29% 4.54% 4.10%
Return on invested capital 51.51% 5.56% 6.36%

Growth

Metric KLAC ONTO Semiconductor Equipment & Materials median
Revenue growth (TTM) 15.82% 8.08% 15.82%
EPS growth (last fiscal year) 20.51% (31.53%) (4.56%)
Revenue growth, 5-year CAGR 14.44% 12.55% 10.11%
Net income growth, 5-year CAGR 18.38% 34.54% 0.00%

Health

Metric KLAC ONTO Semiconductor Equipment & Materials median
Debt to equity 0.88 0.77 0.09
Current ratio 2.76 9.73 3.56
Net debt to EBITDA 0.16 (3.39) (0.49)

Dividend

Metric KLAC ONTO Semiconductor Equipment & Materials median
Dividend yield 0.64% — 0.59%
Payout ratio 0.21 — 0.16

Size

Metric KLAC ONTO Semiconductor Equipment & Materials median
Market cap 169.12b 7.66b 3.04b

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