Onto Innovation Inc (ONTO)
Receivables turnover
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 987,322 | 942,239 | 897,214 | 845,549 | 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 |
| Receivables | US$ in thousands | 308,142 | 253,716 | 237,830 | 231,865 | 226,556 | 209,520 | 187,852 | — | 241,395 | — | — | — | — | 179,766 | 174,662 | 141,876 | 149,251 | 131,429 | 137,529 | 149,229 |
| 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 |
December 31, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $987,322K ÷ $308,142K
= 3.20
The receivables turnover ratio for Onto Innovation Inc has shown fluctuations over the past several quarters. As of December 31, 2024, the receivables turnover ratio stands at 3.20. This indicates that the company collects its accounts receivable approximately 3.20 times during the year. A higher receivables turnover ratio is generally considered favorable as it suggests that the company efficiently collects its outstanding receivables.
Looking at the trend over the past few quarters, the receivables turnover ratio has ranged from a low of 2.58 in March 31, 2020, to a high of 4.78 in June 30, 2023. The company saw significant improvement in its receivables turnover from 2020 to 2023 and has maintained relatively stable turnover ratios in the subsequent quarters.
Analyzing the receivables turnover ratio can provide insights into the company's efficiency in collecting outstanding payments from customers. It is important for investors and creditors to monitor this ratio over time to assess the company's effectiveness in managing its accounts receivable.
Peer comparison
Dec 31, 2024