Onto Innovation Inc (ONTO)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 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 | 641,664 | 278,285 | 272,179 | 264,369 |
| 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 |
| Current ratio | 8.69 | 9.00 | 8.64 | 7.78 | 7.07 | 6.62 | 6.15 | 5.59 | 6.14 | 5.96 | 6.09 | 5.97 | 6.09 | 6.96 | 6.53 | 6.66 | 7.48 | 5.58 | 5.34 | 5.24 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,283,270K ÷ $147,726K
= 8.69
The current ratio of Onto Innovation Inc has displayed a consistent upward trend over the past five quarters, demonstrating a strong liquidity position. As of December 31, 2023, the current ratio stood at 8.69, indicating that the company's current assets are nearly nine times its current liabilities, highlighting its ability to meet short-term obligations comfortably.
The increasing trend in the current ratio signifies improved liquidity and financial stability for Onto Innovation Inc. This can be attributed to effective management of current assets and liabilities, ensuring that the company has ample resources to cover its short-term obligations.
The current ratio exceeding 1 indicates that Onto Innovation Inc has more than enough current assets to cover its current liabilities, providing a cushion against any potential liquidity challenges. A high current ratio also reflects positively on the company's operational efficiency and financial health, instilling confidence in stakeholders.
Overall, the upward trajectory of Onto Innovation Inc's current ratio points towards a sound financial position and effective management of liquidity, which bodes well for the company's ability to navigate short-term financial challenges and capitalize on growth opportunities.
Peer comparison
Dec 31, 2023