Onto Innovation Inc (ONTO)
Payables turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 395,614 | 400,772 | 415,843 | 449,825 | 465,962 | 451,755 | 427,582 | 391,330 | 359,813 | 337,751 | 304,124 | 279,556 | 278,043 | 279,235 | 253,055 | 219,292 | 170,868 | 58,924 | 56,478 | 82,207 |
| Payables | US$ in thousands | 49,869 | 44,466 | 49,600 | 53,700 | 54,526 | 63,951 | 72,248 | 70,757 | 53,345 | 50,867 | 46,685 | 45,622 | 40,183 | 37,486 | 34,318 | 32,205 | 27,738 | 17,541 | 19,459 | 18,901 |
| Payables turnover | 7.93 | 9.01 | 8.38 | 8.38 | 8.55 | 7.06 | 5.92 | 5.53 | 6.75 | 6.64 | 6.51 | 6.13 | 6.92 | 7.45 | 7.37 | 6.81 | 6.16 | 3.36 | 2.90 | 4.35 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $395,614K ÷ $49,869K
= 7.93
The payables turnover ratio for Onto Innovation Inc has shown fluctuations over the past few quarters, with values ranging from 2.90 to 9.01. The ratio indicates how many times, on average, the company pays off its accounts payable during a specific period. A higher ratio generally suggests that the company is managing its payables efficiently by quickly paying off its suppliers.
In the latest quarter, Dec 31, 2023, the payables turnover ratio was 7.93, which indicates that the company paid off its accounts payable approximately 7.93 times during that period. This is a positive sign as it shows the company's ability to manage its payable obligations effectively.
Looking at the trend, the payables turnover ratio has generally been on an upward trajectory since the beginning of 2020, with some fluctuations in between. This improvement suggests that Onto Innovation Inc has been more efficient in managing and paying off its accounts payable over the recent quarters.
It is important to monitor the payables turnover ratio over time to assess the company's liquidity and working capital management. The trend in the ratio can provide insights into the company's payment practices, supplier relationships, and overall financial health.
Peer comparison
Dec 31, 2023