Onto Innovation Inc (ONTO)

Total asset 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
Total assets	US$ in thousands	2,117,090	1,909,710	1,794,860	1,649,810	1,468,170
Total asset turnover		0.47	0.43	0.56	0.48	0.38

December 31, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $987,321K ÷ $2,117,090K
= 0.47

Onto Innovation Inc's total asset turnover has demonstrated a fluctuating trend over the years. The ratio increased from 0.38 in December 31, 2020, to 0.56 in December 31, 2022, indicating that the company generated $0.56 in revenue for every dollar of assets it owned in 2022. However, there was a slight decline in the ratio to 0.43 by December 31, 2023, before it slightly rebounded to 0.47 by December 31, 2024. Overall, the company's total asset turnover reflects varying levels of efficiency in utilizing its assets to generate revenue during the period under review.

Peer comparison

Dec 31, 2024

Company name

Symbol

Total asset turnover

Onto Innovation Inc

ONTO

0.47

Rockwell Automation Inc

ROK

0.74

Thermo Fisher Scientific Inc