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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 $227.7B against $11.4B — 20.0× the size. KLA Corporation trades at the lower P/E: 45.0× against 82.0×. KLA Corporation grew revenue faster over the last twelve months: 11.7% against 8.08%. KLA Corporation has the higher net margin (35.6% vs 11.8%) and the higher return on invested capital (48.2% 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 45.03 82.04 45.03
P/S 16.01 9.74 4.64
P/B 34.23 5.67 3.22
Price to free cash flow 57.87 43.19 48.18
EV/EBITDA 36.19 48.58 33.11
EV/Sales 16.14 9.37 5.52
Earnings yield 2.22% 1.22% 1.41%
Free cash flow yield 1.73% 2.32% 1.67%

Profitability

Metric KLAC ONTO Semiconductor Equipment & Materials median
Gross margin 61.30% 50.36% 43.95%
Operating margin 41.69% 12.02% 10.32%
Net margin 35.57% 11.84% 7.45%
Free cash flow margin 27.74% 22.54% 6.77%
Return on equity 87.50% 6.82% 4.78%
Return on assets 28.40% 4.54% 3.62%
Return on invested capital 48.24% 5.56% 6.10%

Growth

Metric KLAC ONTO Semiconductor Equipment & Materials median
Revenue growth (TTM) 11.71% 8.08% 14.60%
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 0.93 0.77 0.09
Current ratio 2.88 9.73 3.66
Net debt to EBITDA 0.16 (3.39) (0.49)

Dividend

Metric KLAC ONTO Semiconductor Equipment & Materials median
Dividend yield 0.51% — 0.42%
Payout ratio 0.23 — 0.19

Size

Metric KLAC ONTO Semiconductor Equipment & Materials median
Market cap 227.67b 11.38b 3.80b

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