Onto Innovation Inc (ONTO)
Return on assets (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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | 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 | 1,910 | 27,744 | 28,371 | 37,542 |
| 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 |
| ROA | 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% | 0.13% | 7.00% | 7.25% | 9.82% |
December 31, 2023 calculation
ROA = Net income (ttm) ÷ Total assets
= $121,159K ÷ $1,909,710K
= 6.34%
To analyze the return on assets (ROA) trend of Onto Innovation Inc, we can observe fluctuations in the ROA percentages over the provided periods.
The ROA for Onto Innovation Inc has displayed variability over the past several periods. The ROA increased from negative values in early 2020 to a peak of 12.44% in December 2022, indicating an improving trend in asset utilization efficiency and profit generation during that period. However, there was a subsequent decline in ROA to 6.34% by December 2023.
Overall, the ROA trend for Onto Innovation Inc has shown volatility but a general improving trend until December 2022, with a subsequent decline seen in the latest available data. Further analysis of the underlying factors influencing the ROA changes, such as profitability, asset efficiency, and financial leverage, would be useful to understand the company's overall financial performance.
Peer comparison
Dec 31, 2023