Onto Innovation Inc (ONTO)
Working capital 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 current assets | US$ in thousands | 1,477,520 | 1,457,950 | 1,385,210 | 1,332,840 | 1,283,270 | 1,221,200 | 1,183,040 | 1,155,100 | 1,134,870 | 1,122,640 | 1,085,630 | 1,032,240 | 948,089 | 885,474 | 811,629 | 754,828 | 731,661 | 676,721 | 644,912 | 628,519 |
| Total current liabilities | US$ in thousands | 170,089 | 144,736 | 148,420 | 147,053 | 147,726 | 135,758 | 136,937 | 148,418 | 160,558 | 169,553 | 176,667 | 184,679 | 154,526 | 148,617 | 133,168 | 126,412 | 120,091 | 97,231 | 98,715 | 94,328 |
| Working capital turnover | 0.76 | 0.72 | 0.73 | 0.71 | 0.72 | 0.78 | 0.86 | 0.96 | 1.03 | 1.03 | 1.02 | 1.02 | 0.99 | 0.97 | 0.95 | 0.93 | 0.91 | 0.90 | 0.84 | 0.72 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $987,322K ÷ ($1,477,520K – $170,089K)
= 0.76
Working capital turnover is a financial ratio that measures how efficiently a company is utilizing its working capital to generate sales revenue. Onto Innovation Inc's working capital turnover has shown a gradual increase from 0.72 as of March 31, 2020, to 0.76 as of December 31, 2024.
The trend indicates that the company's ability to generate sales revenue from its working capital has generally improved over the period analyzed. This could be a positive sign of effective working capital management, ensuring that resources are being used efficiently to support sales and operations.
However, it is worth noting that there were fluctuations in the working capital turnover ratio over the years, with peak values around 1.02 in the second half of 2022. This may indicate variations in the company's sales cycle, production efficiency, or changes in working capital management practices.
Overall, Onto Innovation Inc's working capital turnover ratio trend suggests efforts to optimize the utilization of working capital in generating sales revenue. Monitoring this ratio over time can provide valuable insights into the company's operational efficiency and financial performance.
Peer comparison
Dec 31, 2024