Onto Innovation Inc (ONTO)
Operating return on assets (Operating ROA)
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 187,103 | 116,078 | 236,714 | 156,407 | -26,677 |
| Total assets | US$ in thousands | 2,117,090 | 1,909,710 | 1,794,860 | 1,649,810 | 1,468,170 |
| Operating ROA | 8.84% | 6.08% | 13.19% | 9.48% | -1.82% |
December 31, 2024 calculation
Operating ROA = Operating income ÷ Total assets
= $187,103K ÷ $2,117,090K
= 8.84%
Onto Innovation Inc's operating return on assets (ROA) has shown fluctuating performance over the years, as indicated by the data provided.
- As of December 31, 2020, the operating ROA was negative at -1.82%. This suggests that the company's operating income generated from its assets was insufficient to cover the cost of those assets, resulting in a negative return.
- By December 31, 2021, Onto Innovation Inc's operating ROA improved to 9.48%, indicating a positive turnaround in utilizing its assets to generate operating income effectively.
- The performance further improved by December 31, 2022, with an operating ROA of 13.19%, indicating a significant increase in the company's efficiency in generating operating income from its assets.
- However, in the subsequent years, there was a slight decline in the operating ROA. As of December 31, 2023, the operating ROA stood at 6.08%, which was lower compared to the previous year.
- By December 31, 2024, the operating ROA recovered slightly to 8.84%, although it remained below the peak performance observed in 2022.
Overall, Onto Innovation Inc's operating ROA demonstrates a mix of positive and negative trends in effectively utilizing its assets to generate operating income. It is important for the company to consistently monitor and improve this ratio to ensure sustainable profitability and efficient asset utilization.
Peer comparison
Dec 31, 2024