Onto Innovation Inc (ONTO)
Total asset 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 |
| Total assets | US$ in thousands | 1,909,710 | 1,862,190 | 1,820,860 | 1,802,840 | 1,794,860 | 1,787,770 | 1,761,460 | 1,722,410 | 1,649,810 | 1,603,260 | 1,546,490 | 1,503,720 | 1,468,170 | 1,430,720 | 1,416,770 | 1,416,390 | 1,448,580 | 396,223 | 391,099 | 382,325 |
| Total asset turnover | 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 | 0.21 | 0.63 | 0.63 | 0.71 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $815,868K ÷ $1,909,710K
= 0.43
The total asset turnover of Onto Innovation Inc has shown a mixed trend over the past few quarters. The ratio has fluctuated between 0.21 and 0.71, with a general declining trend observed over the past few years. This indicates that the company's ability to generate sales from its total assets has decreased over time.
A total asset turnover of less than 1 suggests that the company is not efficiently utilizing its assets to generate sales. A low total asset turnover may indicate excess inventory, underutilized production capacity, or inefficient management of assets.
The management of Onto Innovation Inc may need to focus on improving operational efficiency and asset utilization to enhance the company's financial performance and profitability. The declining trend in total asset turnover should be closely monitored and addressed to ensure sustainable growth and improved financial health.
Peer comparison
Dec 31, 2023