Onto Innovation Inc (ONTO)
Return on assets (ROA)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | 201,670 | 183,162 | 165,997 | 138,944 | 121,159 | 157,064 | 173,393 | 199,072 | 223,334 | 203,857 | 188,090 | 171,566 | 142,349 | 115,526 | 87,169 | 59,542 | 31,025 | -6,641 | -8,172 | -10,070 |
| Total assets | US$ in thousands | 2,117,090 | 2,073,360 | 2,005,420 | 1,953,370 | 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 |
| ROA | 9.53% | 8.83% | 8.28% | 7.11% | 6.34% | 8.43% | 9.52% | 11.04% | 12.44% | 11.40% | 10.68% | 9.96% | 8.63% | 7.21% | 5.64% | 3.96% | 2.11% | -0.46% | -0.58% | -0.71% |
December 31, 2024 calculation
ROA = Net income (ttm) ÷ Total assets
= $201,670K ÷ $2,117,090K
= 9.53%
Onto Innovation Inc's return on assets (ROA) has shown a fluctuating trend over the past few years. The ROA was negative in the earlier periods, indicating that the company was not generating profits efficiently relative to its assets during those times. However, starting from December 31, 2020, there was a significant improvement in the ROA, turning positive and progressively increasing in subsequent periods.
The ROA increased from 2.11% in December 2020 to 9.53% in December 2024, indicating that the company has been able to generate a higher level of profit relative to its assets over time. The peak ROA was recorded on June 30, 2022, at 10.68%. However, there was a slight decrease in the ROA in the following periods up to December 31, 2024.
Overall, the upward trend in the ROA suggests that Onto Innovation Inc has been more effective in utilizing its assets to generate profits, which is a positive indication of the company's financial performance and efficiency in asset management.
Peer comparison
Dec 31, 2024