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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 $33.2B against $7.7B — 4.3× the size. Teradyne, Inc. trades at the lower P/E: 24.8× against 58.7×. Teradyne, Inc. grew revenue faster over the last twelve months: 74.9% against 8.08%. Teradyne, Inc. has the higher net margin (27.5% vs 11.8%) and the higher return on invested capital (31.2% vs 5.56%). Across the 22 metrics below, Teradyne, Inc. leads on 13 and Onto Innovation Inc. on 9.

Valuation

Metric ONTO TER Semiconductor Equipment & Materials median
P/E 58.67 24.76 33.70
P/S 6.96 6.79 4.22
P/B 4.06 9.20 2.94
Price to free cash flow 30.89 33.11 31.49
EV/EBITDA 34.20 19.32 22.64
EV/Sales 6.60 6.74 4.97
Earnings yield 1.70% 4.04% 2.02%
Free cash flow yield 3.24% 3.02% 2.27%

Profitability

Metric ONTO TER Semiconductor Equipment & Materials median
Gross margin 50.36% 59.32% 46.86%
Operating margin 12.02% 32.11% 12.02%
Net margin 11.84% 27.46% 10.16%
Free cash flow margin 22.54% 20.49% 6.73%
Return on equity 6.82% 42.87% 5.31%
Return on assets 4.54% 29.17% 4.10%
Return on invested capital 5.56% 31.16% 6.36%

Growth

Metric ONTO TER Semiconductor Equipment & Materials median
Revenue growth (TTM) 8.08% 74.88% 15.82%
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 2.08 3.56
Net debt to EBITDA (3.39) (0.16) (0.49)

Dividend

Metric ONTO TER Semiconductor Equipment & Materials median
Dividend yield — 0.23% 0.59%
Payout ratio — 0.06 0.16

Size

Metric ONTO TER Semiconductor Equipment & Materials median
Market cap 7.66b 33.21b 3.04b

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