Onto Innovation Inc (ONTO)
Debt-to-equity 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 stockholders’ equity | US$ in thousands | 1,736,540 | 1,696,140 | 1,656,710 | 1,624,620 | 1,596,430 | 1,569,370 | 1,527,940 | 1,472,320 | 1,426,060 | 1,373,550 | 1,329,560 | 1,292,310 | 1,264,750 | 1,237,680 | 1,221,210 | 1,225,800 | 1,264,030 | 385,473 | 377,500 | 369,862 |
| Debt-to-equity 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-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $1,736,540K
= 0.00
The debt-to-equity ratio for Onto Innovation Inc has consistently been reported as 0.00 across the various quarters listed. A debt-to-equity ratio of 0.00 typically indicates that the company has no debt or a negligible amount of debt relative to its equity. This suggests that Onto Innovation Inc relies predominantly on equity financing rather than debt financing to fund its operations and growth.
A debt-to-equity ratio of 0.00 may indicate a strong financial position, as it implies that the company has minimal financial leverage and is not highly leveraged with debt. This can be viewed positively by investors and creditors, as lower leverage generally reduces financial risk and provides greater financial stability.
However, it is important to note that a debt-to-equity ratio of 0.00 could also indicate that the company has not reported any debt in its financial statements, which may not necessarily be ideal in all situations. Debt can be a useful tool to finance operations and facilitate growth, and the absence of debt entirely may limit the company's ability to take advantage of opportunities that require leveraging.
In conclusion, Onto Innovation Inc's consistent debt-to-equity ratio of 0.00 suggests a low level of debt relative to equity, indicating a conservative financial approach with limited financial risk but potentially missed opportunities for leveraging.
Peer comparison
Dec 31, 2023