Onto Innovation Inc (ONTO)
Return on equity (ROE)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 121,159 | 223,334 | 142,349 | 31,025 | 223,334 |
| Total stockholders’ equity | US$ in thousands | 1,736,540 | 1,596,430 | 1,426,060 | 1,264,750 | 1,264,030 |
| ROE | 6.98% | 13.99% | 9.98% | 2.45% | 17.67% |
December 31, 2023 calculation
ROE = Net income ÷ Total stockholders’ equity
= $121,159K ÷ $1,736,540K
= 6.98%
Onto Innovation Inc's return on equity (ROE) has varied over the past five years, ranging from a low of 2.45% in 2020 to a high of 17.67% in 2019. The ROE decreased in 2020, likely due to lower profitability or increased equity. It then saw a significant increase in 2022, indicating a strong performance in generating profit relative to the shareholders' equity. However, in 2023, the ROE decreased to 6.98%, suggesting a decline in the company's ability to generate returns for its shareholders compared to the prior year. Overall, Onto Innovation Inc's ROE trend shows some inconsistency, and further analysis is recommended to understand the factors driving these variations.
Peer comparison
Dec 31, 2023