Onto Innovation Inc (ONTO)
Quick ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 212,945 | 188,738 | 172,571 | 190,893 | 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 |
| Short-term investments | US$ in thousands | 639,383 | 666,666 | 613,461 | 550,038 | 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 |
| Receivables | US$ in thousands | 308,142 | 253,716 | 237,830 | 231,865 | 226,556 | 209,520 | 187,852 | — | 241,395 | — | — | — | — | 179,766 | 174,662 | 141,876 | 149,251 | 131,429 | 137,529 | 149,229 |
| Total current liabilities | US$ in thousands | 170,089 | 144,736 | 148,420 | 147,053 | 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 |
| Quick ratio | 6.82 | 7.66 | 6.90 | 6.62 | 6.26 | 6.18 | 5.82 | 3.93 | 4.92 | 3.26 | 3.08 | 2.93 | 3.31 | 4.32 | 4.40 | 4.23 | 4.35 | 4.85 | 4.55 | 4.68 |
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 fluctuations over the past years, ranging from a low of 2.93 on March 31, 2022, to a high of 7.66 on September 30, 2024. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. Generally, a quick ratio above 1 indicates that the company is able to cover its short-term liabilities with its quick assets.
Onto Innovation Inc's quick ratio has been well above 1 throughout the period analyzed, indicating a strong liquidity position. The company had a peak quick ratio of 7.66 on September 30, 2024, suggesting it had substantial liquid assets to cover its short-term obligations. However, it is essential to consider the industry benchmarks and specific business circumstances when assessing the adequacy of the quick ratio.
The decreasing trend observed towards the end of the period, with a quick ratio declining from 6.90 on June 30, 2024, to 6.82 on December 31, 2024, may signal a potential decrease in liquidity or an increase in short-term obligations. Investors and analysts should further investigate the reasons behind this trend to assess the company's financial health accurately.
Peer comparison
Dec 31, 2024