Onto Innovation Inc (ONTO)
Payables turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 472,013 | 395,614 | 465,962 | 359,813 | 278,043 |
| Payables | US$ in thousands | 56,261 | 49,869 | 54,526 | 53,345 | 40,183 |
| Payables turnover | 8.39 | 7.93 | 8.55 | 6.75 | 6.92 |
December 31, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $472,013K ÷ $56,261K
= 8.39
The payables turnover ratio of Onto Innovation Inc has shown a fluctuating trend over the past five years. In 2020, the payables turnover ratio was 6.92, indicating that the company took approximately 6.92 times to pay off its accounts payable during the year.
This ratio decreased slightly to 6.75 in 2021, suggesting a slower payment cycle. However, there was a significant improvement in 2022, with the payables turnover ratio increasing to 8.55, indicating that the company was more efficient in managing its accounts payable during that year.
In 2023, the payables turnover ratio decreased to 7.93, but still remained relatively high compared to the previous years. The ratio further improved in 2024 to 8.39, signaling that Onto Innovation Inc continued to effectively manage its accounts payable and pay off its obligations in a timely manner.
Overall, the trend in Onto Innovation Inc's payables turnover ratio demonstrates a mix of fluctuations and improvements over the years, reflecting the company's ability to efficiently manage its accounts payable and optimize its working capital management.
Peer comparison
Dec 31, 2024