Onto Innovation Inc (ONTO)
Debt-to-equity 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-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $1,736,540K
= 0.00
The debt-to-equity ratio of Onto Innovation Inc has been consistently 0.00 from 2019 to 2023, indicating that the company has not utilized any debt to finance its operations or growth during this period. This suggests that the company has been relying primarily on equity financing to support its activities, which could indicate a strong financial position with lower financial risk due to a lack of debt obligations. However, it's important to note that a debt-to-equity ratio of 0.00 may also imply that the company is not taking advantage of potential tax benefits associated with debt financing or may be foregoing growth opportunities that could be funded through debt. Overall, the stable 0.00 debt-to-equity ratio over several years indicates a consistent financial strategy focused on equity financing and a cautious approach towards leverage.
Peer comparison
Dec 31, 2023