Onto Innovation Inc (ONTO)
Activity ratios
Short-term
Turnover ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 1.64 | 1.46 | 1.36 | 1.25 | 1.21 | 1.16 | 1.18 | 1.33 | 1.44 | 1.47 | 1.52 | 1.49 | 1.48 | 1.52 | 1.47 | 1.39 | 1.45 | 1.51 | 1.47 | 1.37 |
| Receivables turnover | 3.20 | 3.71 | 3.77 | 3.65 | 3.60 | 4.06 | 4.78 | — | 4.16 | — | — | — | — | 4.00 | 3.69 | 4.13 | 3.73 | 3.97 | 3.33 | 2.58 |
| Payables turnover | 8.39 | 9.41 | 8.48 | 7.37 | 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 |
| Working capital turnover | 0.76 | 0.72 | 0.73 | 0.71 | 0.72 | 0.78 | 0.86 | 0.96 | 1.03 | 1.03 | 1.02 | 1.02 | 0.99 | 0.97 | 0.95 | 0.93 | 0.91 | 0.90 | 0.84 | 0.72 |
Onto Innovation Inc's activity ratios provide insights into the efficiency of its operations.
1. Inventory Turnover: The inventory turnover ratio measures how many times a company's inventory is sold and replaced over a period. Onto Innovation's inventory turnover has been relatively stable, with a slight decrease in recent periods, indicating the company is efficiently managing its inventory levels.
2. Receivables Turnover: The receivables turnover ratio shows how efficiently a company collects payments from its customers. Onto Innovation's receivables turnover has shown fluctuations, with an improvement in collection efficiency in recent periods. However, there is missing data for some quarters, so a complete trend analysis is challenging.
3. Payables Turnover: The payables turnover ratio measures how quickly a company pays its suppliers. Onto Innovation's payables turnover has fluctuated over time, with some variability in payment terms to suppliers. The ratio has increased in recent periods, indicating a more frequent turnover of payables, which may have implications for cash flow management.
4. Working Capital Turnover: The working capital turnover ratio evaluates how efficiently a company utilizes its working capital to generate sales revenue. Onto Innovation's working capital turnover has shown a slight decline over time, suggesting a decrease in sales revenue generated per unit of working capital. This trend may require further investigation to determine its impact on the company's operational efficiency.
Overall, Onto Innovation Inc's activity ratios reflect varying degrees of efficiency in managing its inventory, receivables, payables, and working capital. Continuous monitoring and analysis of these ratios can provide valuable insights into the company's operational performance and financial health.
Average number of days
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 221.92 | 249.31 | 267.73 | 291.94 | 302.41 | 315.17 | 309.03 | 274.55 | 254.02 | 248.74 | 239.54 | 245.31 | 246.61 | 240.25 | 248.41 | 262.30 | 251.02 | 241.80 | 247.85 | 267.22 |
| Days of sales outstanding (DSO) | days | 113.92 | 98.28 | 96.75 | 100.09 | 101.36 | 89.94 | 76.41 | — | 87.65 | — | — | — | — | 91.34 | 98.95 | 88.39 | 97.89 | 91.91 | 109.51 | 141.50 |
| Number of days of payables | days | 43.51 | 38.80 | 43.02 | 49.53 | 46.01 | 40.50 | 43.54 | 43.57 | 42.71 | 51.67 | 61.67 | 66.00 | 54.11 | 54.97 | 56.03 | 59.57 | 52.75 | 49.00 | 49.50 | 53.60 |
The analysis of Onto Innovation Inc's activity ratios reveals the following trends:
1. Days of Inventory on Hand (DOH): The company has shown fluctuating trends in its inventory turnover efficiency. The DOH fluctuated between a high of 315.17 days on September 30, 2023, and a low of 221.92 days on December 31, 2024. Generally, a decreasing trend in DOH indicates improved inventory management efficiency.
2. Days of Sales Outstanding (DSO): DSO reflects the average number of days it takes for the company to collect its accounts receivable. The DSO varied from a low of 76.41 days on June 30, 2023, to a high of 141.50 days on March 31, 2020. A decreasing DSO generally indicates a more efficient collection process.
3. Number of Days of Payables: This metric indicates the average number of days it takes the company to pay its suppliers. The number of days payables ranged from a low of 38.80 days on September 30, 2024, to a high of 66.00 days on March 31, 2022. A decreasing number of days payables may suggest a more favorable credit term with suppliers.
Overall, analyzing these activity ratios provides insight into Onto Innovation Inc's operational efficiency and effectiveness in managing its inventory, accounts receivable, and accounts payable.
Long-term
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | 7.97 | 7.85 | 7.77 | 7.92 | 7.87 | 8.16 | 8.98 | 9.86 | 10.93 | 11.60 | 11.13 | 10.54 | 9.61 | 8.38 | 7.32 | 6.68 | 6.05 | 5.63 | 4.80 | 3.97 |
| Total asset turnover | 0.47 | 0.45 | 0.45 | 0.43 | 0.43 | 0.46 | 0.49 | 0.53 | 0.56 | 0.55 | 0.52 | 0.50 | 0.48 | 0.45 | 0.42 | 0.39 | 0.38 | 0.36 | 0.32 | 0.27 |
The fixed asset turnover ratio of Onto Innovation Inc has shown an increasing trend from 3.97 in March 2020 to a peak of 11.60 in September 2022, before declining to 7.97 by December 2024. This indicates that the company generated significantly more revenue per dollar invested in fixed assets during the period, reflecting operational efficiency in utilizing its fixed assets.
In contrast, the total asset turnover ratio has varied over the period, ranging from 0.27 in March 2020 to 0.47 in December 2024. The ratio peaked at 0.56 in December 2022, indicating that the company generated higher revenue relative to its total assets at that time.
Overall, the fluctuation in the total asset turnover ratio suggests variations in the company's efficiency in generating sales from its total assets. It is essential for Onto Innovation Inc to continue monitoring and managing these ratios to optimize the utilization of both fixed and total assets for sustainable growth and profitability.