Onto Innovation Inc (ONTO)
Receivables 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 815,868 | 850,282 | 897,350 | 962,998 | 1,005,183 | 977,557 | 923,893 | 860,970 | 788,899 | 718,383 | 644,286 | 585,847 | 556,496 | 521,926 | 458,369 | 384,932 | 305,896 | 248,118 | 245,615 | 272,659 |
| Receivables | US$ in thousands | 226,556 | 209,520 | 187,852 | — | 241,395 | — | — | — | — | 179,766 | 174,662 | 141,876 | 149,251 | 131,429 | 137,529 | 149,229 | 123,656 | 56,969 | 51,602 | 45,252 |
| Receivables turnover | 3.60 | 4.06 | 4.78 | — | 4.16 | — | — | — | — | 4.00 | 3.69 | 4.13 | 3.73 | 3.97 | 3.33 | 2.58 | 2.47 | 4.36 | 4.76 | 6.03 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $815,868K ÷ $226,556K
= 3.60
The receivables turnover ratio for Onto Innovation Inc has shown fluctuations over the past few quarters.
As of December 31, 2023, the receivables turnover stood at 3.60, indicating that the company collected its outstanding receivables approximately 3.60 times during the year. This figure decreased from the previous quarter's value of 4.06, suggesting a potential slowdown in the collection of receivables.
Looking further back, the trend in receivables turnover has been somewhat inconsistent. The ratio reached a peak of 6.03 on June 30, 2019, indicating a more efficient collection of receivables at that time. However, there have been periods of lower turnover ratios, such as the values below 3.00 in the first quarter of 2020 and the second quarter of 2017.
Overall, the varying levels of receivables turnover suggest fluctuations in the effectiveness of Onto Innovation's credit and collection policies. It would be beneficial for the company to closely monitor and analyze these ratios to identify any underlying issues affecting the management of its accounts receivable.
Peer comparison
Dec 31, 2023