Onto Innovation Inc (ONTO)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 233,508 | 175,872 | 169,602 | 136,720 | 130,673 |
| Short-term investments | US$ in thousands | 464,303 | 371,912 | 341,741 | 237,002 | 189,563 |
| Total current liabilities | US$ in thousands | 147,726 | 160,558 | 154,526 | 120,091 | 85,743 |
| Cash ratio | 4.72 | 3.41 | 3.31 | 3.11 | 3.73 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($233,508K
+ $464,303K)
÷ $147,726K
= 4.72
The cash ratio of Onto Innovation Inc has fluctuated over the past five years. The ratio has shown an increasing trend from 3.73 in 2019 to 4.72 in 2023, indicating the company's ability to cover its short-term liabilities with its cash and cash equivalents has improved over the years. This suggests that Onto Innovation Inc has a healthy level of liquidity to meet its immediate financial obligations without relying heavily on other current assets. Overall, the company's cash ratio has been strong and has shown improvement, reflecting a solid financial position in terms of liquidity.
Peer comparison
Dec 31, 2023