Onto Innovation Inc (ONTO)

Cash ratio

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
Cash and cash equivalents US$ in thousands 233,508 206,585 224,257 230,484 175,872 200,383 180,175 172,463 169,602 152,207 134,218 126,450 136,720 101,606 129,388 101,320 130,673 51,009 94,035 95,212
Short-term investments US$ in thousands 464,303 423,079 385,346 353,034 371,912 352,329 364,825 369,448 341,741 309,344 276,621 266,450 237,002 238,797 182,673 190,629 189,563 93,101 50,947 52,851
Total current liabilities US$ in thousands 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 85,743 49,831 50,955 50,407
Cash ratio 4.72 4.64 4.45 3.93 3.41 3.26 3.08 2.93 3.31 3.11 3.09 3.11 3.11 3.50 3.16 3.10 3.73 2.89 2.85 2.94

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 shown a generally increasing trend over the past five years. The ratio has ranged from 2.85 to 4.72 during this period, with the latest value at 4.72 as of December 31, 2023. This indicates the company's ability to cover its short-term liabilities with its cash and cash equivalents has improved significantly.

A cash ratio above 1 is considered healthy as it indicates the company has sufficient liquid assets to cover its current liabilities. Onto Innovation Inc's cash ratio has consistently been well above 1, reflecting the company's strong liquidity position.

The increasing trend in the cash ratio suggests that Onto Innovation Inc has been efficiently managing its cash and cash equivalents over the years, which is a positive sign for investors and creditors. It also indicates that the company may have a lower risk of facing liquidity issues in the near term, providing a level of financial stability.


Peer comparison

Dec 31, 2023