Onto Innovation Inc (ONTO)
Quick ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 212,945 | 233,508 | 175,872 | 169,602 | 136,720 |
| Short-term investments | US$ in thousands | 639,383 | 464,303 | 371,912 | 341,741 | 237,002 |
| Receivables | US$ in thousands | 308,142 | 226,556 | 241,395 | — | 149,251 |
| Total current liabilities | US$ in thousands | 170,089 | 147,726 | 160,558 | 154,526 | 120,091 |
| Quick ratio | 6.82 | 6.26 | 4.92 | 3.31 | 4.35 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($212,945K
+ $639,383K
+ $308,142K)
÷ $170,089K
= 6.82
The quick ratio of Onto Innovation Inc has shown a favorable trend over the past five years, indicating a strong ability to meet its short-term obligations with liquid assets. As of December 31, 2020, the quick ratio stood at 4.35, reflecting a robust liquidity position. This ratio decreased slightly to 3.31 by December 31, 2021, suggesting a potential decrease in the company's ability to cover its current liabilities with its most liquid assets.
However, Onto Innovation Inc improved its quick ratio significantly in the following years, reaching 4.92 by December 31, 2022, 6.26 by December 31, 2023, and further rising to 6.82 by December 31, 2024. These increasing values indicate a strengthened liquidity position, with the company holding more than enough liquid assets to cover its short-term obligations, which bodes well for its financial health and ability to weather unexpected financial challenges. Overall, the trend in Onto Innovation Inc's quick ratio suggests a positive liquidity position over the specified period.
Peer comparison
Dec 31, 2024