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