Onto Innovation Inc (ONTO)
Receivables turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 987,321 | 815,868 | 1,005,180 | 788,899 | 556,496 |
| Receivables | US$ in thousands | 308,142 | 226,556 | 241,395 | — | 149,251 |
| Receivables turnover | 3.20 | 3.60 | 4.16 | — | 3.73 |
December 31, 2024 calculation
Receivables turnover = Revenue ÷ Receivables
= $987,321K ÷ $308,142K
= 3.20
The receivables turnover ratio for Onto Innovation Inc has shown some fluctuations over the years. In 2020, the ratio was 3.73, indicating that the company collected its accounts receivable approximately 3.73 times during the year. However, the ratio for December 31, 2021, is not available ("-"), which could be due to a reporting anomaly or unavailability of the data.
In 2022, the receivables turnover improved to 4.16, suggesting that the company was able to collect its receivables more efficiently compared to the previous year. Subsequently, in 2023 and 2024, the receivables turnover ratios decreased to 3.60 and 3.20, respectively.
Overall, while the company's ability to collect its receivables improved in 2022, it slightly declined in the following years. This could indicate changes in the company's credit policies, customer payment behavior, or other factors affecting the collection of accounts receivable. Additional information or trend analysis may help provide further insight into Onto Innovation Inc's receivables turnover performance.
Peer comparison
Dec 31, 2024