Onto Innovation Inc (ONTO)

Debt-to-assets ratio

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
Long-term debt US$ in thousands
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
Debt-to-assets ratio 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $1,909,710K
= 0.00

The debt-to-assets ratio of Onto Innovation Inc has consistently been 0.00, indicating that the company has not had any debt in relation to its total assets across the periods shown. This implies that the company has been financing its assets primarily through equity rather than debt. A debt-to-assets ratio of 0.00 is typically viewed positively by investors and creditors as it suggests the company has a strong financial position with lower financial risk due to the absence of debt obligations. It is important to note that while a low debt-to-assets ratio signifies financial strength, it may also suggest limited leverage and potential missed opportunities for tax benefits associated with debt financing.


Peer comparison

Dec 31, 2023

Company name
Symbol
Debt-to-assets ratio
Onto Innovation Inc
ONTO
0.00
Rockwell Automation Inc
ROK
0.23
Thermo Fisher Scientific Inc
TMO
0.00
Trimble Inc
TRMB
0.27