Onto Innovation Inc (ONTO)
Return on assets (ROA)
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 201,670 | 121,159 | 223,334 | 142,349 | 31,025 |
| Total assets | US$ in thousands | 2,117,090 | 1,909,710 | 1,794,860 | 1,649,810 | 1,468,170 |
| ROA | 9.53% | 6.34% | 12.44% | 8.63% | 2.11% |
December 31, 2024 calculation
ROA = Net income ÷ Total assets
= $201,670K ÷ $2,117,090K
= 9.53%
Based on the provided data, Onto Innovation Inc's return on assets (ROA) has shown a positive trend over the years. The ROA increased from 2.11% on December 31, 2020, to 8.63% on December 31, 2021, indicating an improvement in the company's ability to generate profits from its assets.
The trend continued to strengthen in the following years, with ROA reaching 12.44% on December 31, 2022, reflecting a significant increase in efficiency and profitability. However, there was a slight decline in ROA to 6.34% on December 31, 2023, which could be a result of various factors affecting the company's asset utilization and overall performance during that period.
Onto Innovation Inc managed to bounce back in the subsequent year, achieving a ROA of 9.53% on December 31, 2024. This suggests that the company was able to make better use of its assets to generate higher returns compared to the previous year.
Overall, Onto Innovation Inc's ROA performance demonstrates a positive trajectory, with fluctuations in certain years but showing an overall improvement in the company's asset efficiency and profitability.
Peer comparison
Dec 31, 2024