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Onto Innovation Inc. (ONTO) vs Teradyne, Inc. (TER)

Onto Innovation Inc. and Teradyne, Inc. are both Semiconductor Equipment & Materials companies. Teradyne, Inc. is the larger, with a market value of $53.7B against $11.4B — 4.7× the size. Teradyne, Inc. trades at the lower P/E: 44.3× against 82.0×. Teradyne, Inc. grew revenue faster over the last twelve months: 57.9% against 8.08%. Teradyne, Inc. has the higher net margin (25.8% vs 11.8%) and the higher return on invested capital (27.0% vs 5.56%). Across the 22 metrics below, Teradyne, Inc. leads on 12 and Onto Innovation Inc. on 10.

Valuation

Metric ONTO TER Semiconductor Equipment & Materials median
P/E 82.04 44.32 45.03
P/S 9.74 11.39 4.64
P/B 5.67 14.63 3.22
Price to free cash flow 43.19 63.54 48.18
EV/EBITDA 48.58 34.23 33.11
EV/Sales 9.37 11.36 5.52
Earnings yield 1.22% 2.26% 1.41%
Free cash flow yield 2.32% 1.57% 1.67%

Profitability

Metric ONTO TER Semiconductor Equipment & Materials median
Gross margin 50.36% 59.24% 43.95%
Operating margin 12.02% 30.23% 10.32%
Net margin 11.84% 25.77% 7.45%
Free cash flow margin 22.54% 17.92% 6.77%
Return on equity 6.82% 36.45% 4.78%
Return on assets 4.54% 26.48% 3.62%
Return on invested capital 5.56% 27.04% 6.10%

Growth

Metric ONTO TER Semiconductor Equipment & Materials median
Revenue growth (TTM) 8.08% 57.87% 14.60%
EPS growth (last fiscal year) (31.53%) 4.52% (4.56%)
Revenue growth, 5-year CAGR 12.55% 0.44% 10.11%
Net income growth, 5-year CAGR 34.54% (6.71%) 0.00%

Health

Metric ONTO TER Semiconductor Equipment & Materials median
Debt to equity 0.77 0.00 0.09
Current ratio 9.73 2.12 3.66
Net debt to EBITDA (3.39) (0.16) (0.49)

Dividend

Metric ONTO TER Semiconductor Equipment & Materials median
Dividend yield — 0.16% 0.42%
Payout ratio — 0.07 0.19

Size

Metric ONTO TER Semiconductor Equipment & Materials median
Market cap 11.38b 53.66b 3.80b

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