Onto Innovation Inc (ONTO)
Gross profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 420,254 | 449,510 | 481,507 | 513,173 | 539,221 | 525,802 | 496,311 | 469,640 | 429,086 | 380,632 | 340,162 | 306,291 | 278,453 | 242,691 | 205,314 | 165,640 | 135,028 | 128,109 | 128,052 | 137,877 |
| Revenue (ttm) | US$ in thousands | 815,868 | 850,282 | 897,350 | 962,998 | 1,005,183 | 977,557 | 923,893 | 860,970 | 788,899 | 718,383 | 644,286 | 585,847 | 556,496 | 521,926 | 458,369 | 384,932 | 305,896 | 248,118 | 245,615 | 272,659 |
| Gross profit margin | 51.51% | 52.87% | 53.66% | 53.29% | 53.64% | 53.79% | 53.72% | 54.55% | 54.39% | 52.98% | 52.80% | 52.28% | 50.04% | 46.50% | 44.79% | 43.03% | 44.14% | 51.63% | 52.14% | 50.57% |
December 31, 2023 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $420,254K ÷ $815,868K
= 51.51%
The gross profit margin of Onto Innovation Inc has shown fluctuations over the past few quarters. Starting from December 2019 to June 2021, the gross profit margin remained relatively stable, ranging from 50.57% to 54.55%. However, from March 2021 to March 2022, there was a noticeable decline in the margin, decreasing from 52.28% to 46.50%. This drop could indicate increased costs of goods sold relative to revenue during this period.
Subsequently, there was a gradual improvement in the gross profit margin from June 2022 onwards, reaching a peak of 53.79% in September 2022. However, it then slightly decreased in the following quarters. The most recent data as of December 2023 shows a gross profit margin of 51.51%.
Overall, Onto Innovation Inc's gross profit margin has displayed some volatility, with fluctuations likely influenced by factors such as changes in pricing strategies, production costs, and operational efficiencies. Monitoring this metric over time can help assess the company's ability to generate profits from its core business activities.
Peer comparison
Dec 31, 2023