Onto Innovation Inc (ONTO)
Total asset 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 |
| Total assets | US$ in thousands | 2,117,090 | 2,073,360 | 2,005,420 | 1,953,370 | 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 |
| Total asset turnover | 0.47 | 0.45 | 0.45 | 0.43 | 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 |
December 31, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $987,322K ÷ $2,117,090K
= 0.47
Total asset turnover measures how efficiently a company utilizes its assets to generate sales. In the case of Onto Innovation Inc, there has been a gradual improvement in the total asset turnover ratio over the analyzed period, starting at 0.27 in March 2020 and reaching 0.47 by December 2024.
This upward trend indicates that Onto Innovation Inc has been able to generate more revenue from its assets over time, reflecting improved asset utilization efficiency. The consistent increase in total asset turnover suggests that the company has managed to optimize its asset management practices, possibly through better inventory control, more effective use of fixed assets, or increased sales volume relative to asset base.
It is important to note that while a rising total asset turnover ratio generally indicates operational efficiency, it should be interpreted in conjunction with other financial metrics to gain a comprehensive understanding of Onto Innovation Inc's financial performance and overall health.
Peer comparison
Dec 31, 2024