Onto Innovation Inc (ONTO)
Debt-to-capital ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 1,736,540 | 1,596,430 | 1,426,060 | 1,264,750 | 1,264,030 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $1,736,540K)
= 0.00
The debt-to-capital ratio for Onto Innovation Inc has consistently remained at 0.00 over the past five years, indicating that the company has not used any debt to finance its operations relative to its total capital structure. This suggests that Onto Innovation Inc has been relying primarily on equity financing as opposed to debt, which can be a positive sign of financial stability and low financial risk. A low or zero debt-to-capital ratio generally indicates that the company is not highly leveraged and has a lower risk of financial distress or default. However, it is important to consider other factors such as the cost of capital, profitability, and growth prospects in conjunction with this ratio when evaluating the overall financial health of the company.
Peer comparison
Dec 31, 2023