Onto Innovation Inc (ONTO)
Operating return on assets (Operating ROA)
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 116,078 | 149,060 | 174,361 | 207,005 | 236,714 | 225,357 | 209,176 | 187,666 | 156,407 | 67,909 | 34,065 | 6,054 | -26,677 | -11,393 | -15,385 | -17,897 | -5,043 | 13,781 | 16,120 | 31,486 |
| Total assets | US$ in thousands | 1,909,710 | 1,862,190 | 1,820,860 | 1,802,840 | 1,794,860 | 1,787,770 | 1,761,460 | 1,722,410 | 1,649,810 | 1,603,260 | 1,546,490 | 1,503,720 | 1,468,170 | 1,430,720 | 1,416,770 | 1,416,390 | 1,448,580 | 396,223 | 391,099 | 382,325 |
| Operating ROA | 6.08% | 8.00% | 9.58% | 11.48% | 13.19% | 12.61% | 11.88% | 10.90% | 9.48% | 4.24% | 2.20% | 0.40% | -1.82% | -0.80% | -1.09% | -1.26% | -0.35% | 3.48% | 4.12% | 8.24% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $116,078K ÷ $1,909,710K
= 6.08%
Based on the operating return on assets (operating ROA) data for Onto Innovation Inc from December 2019 to December 2023, we observe fluctuations in the company's operating efficiency and asset utilization over time.
The operating ROA has shown an upward trend from December 2019 to March 2023, indicating improvement in the company's ability to generate operating profits from its assets. This suggests a more efficient use of resources to generate earnings during this period.
However, in the most recent quarters from June 2023 to December 2023, there has been a slight decline in the operating ROA. This decline could indicate challenges in maintaining or further improving operating efficiency and asset utilization compared to the earlier periods.
Overall, Onto Innovation Inc's operating ROA has shown variability over the analyzed period, highlighting the importance of monitoring and managing operational performance to enhance profitability and maximize return on assets.
Peer comparison
Dec 31, 2023