Onto Innovation Inc (ONTO)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 420,254 | 539,221 | 429,086 | 278,453 | 135,028 |
| Revenue | US$ in thousands | 815,868 | 1,005,180 | 788,899 | 556,496 | 305,896 |
| Gross profit margin | 51.51% | 53.64% | 54.39% | 50.04% | 44.14% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $420,254K ÷ $815,868K
= 51.51%
The gross profit margin of Onto Innovation Inc has shown a fluctuating trend over the past five years. Starting at 44.14% in 2019, it increased to 50.04% in 2020, before reaching its peak at 54.39% in 2021. However, the margin declined to 53.64% in 2022 and further dropped to 51.51% in 2023. This indicates variability in the company's ability to generate profits from its core business activities in recent years. Further analysis would be needed to determine the underlying factors contributing to these fluctuations and their potential impact on the overall financial performance of Onto Innovation Inc.
Peer comparison
Dec 31, 2023