Onto Innovation Inc (ONTO)
Working capital 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 current assets | US$ in thousands | 1,477,520 | 1,283,270 | 1,134,870 | 948,089 | 731,661 |
| Total current liabilities | US$ in thousands | 170,089 | 147,726 | 160,558 | 154,526 | 120,091 |
| Working capital turnover | 0.76 | 0.72 | 1.03 | 0.99 | 0.91 |
December 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $987,321K ÷ ($1,477,520K – $170,089K)
= 0.76
The working capital turnover of Onto Innovation Inc has shown a general increasing trend over the years, from 0.91 in December 2020 to 0.76 in December 2024. This ratio indicates the company's efficiency in utilizing its working capital to generate sales. A higher working capital turnover suggests that the company is efficiently managing its working capital to support its operations and sales activities. However, the decrease in the ratio from 2023 to 2024 may indicate a decrease in efficiency in utilizing working capital to generate sales in that particular year. Overall, Onto Innovation Inc's working capital turnover reflects its ability to effectively convert its working capital into revenue over the period analyzed.
Peer comparison
Dec 31, 2024