Onto Innovation Inc (ONTO)
Financial leverage ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 2,117,090 | 2,073,360 | 2,005,420 | 1,953,370 | 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 |
| Total stockholders’ equity | US$ in thousands | 1,925,880 | 1,903,520 | 1,831,680 | 1,781,550 | 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 |
| Financial leverage ratio | 1.10 | 1.09 | 1.09 | 1.10 | 1.10 | 1.10 | 1.10 | 1.11 | 1.12 | 1.14 | 1.15 | 1.17 | 1.16 | 1.17 | 1.16 | 1.16 | 1.16 | 1.16 | 1.16 | 1.16 |
December 31, 2024 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $2,117,090K ÷ $1,925,880K
= 1.10
The financial leverage ratio for Onto Innovation Inc has been relatively stable around the range of 1.16 to 1.17 from March 31, 2020, to March 31, 2022. This indicates that the company has been relying more on debt financing to support its operations during this period.
However, from June 30, 2022, onwards, there has been a gradual decrease in the financial leverage ratio, reaching 1.09 by June 30, 2024. This downward trend suggests that Onto Innovation Inc has been reducing its dependency on debt and potentially strengthening its financial position by using more equity financing.
Overall, a decreasing financial leverage ratio can be interpreted as a positive sign of improved financial stability and lower risk for the company, as it indicates a lower reliance on debt to fund its operations and potentially lower interest expenses. This trend may also signal better financial health and greater flexibility for Onto Innovation Inc in managing its capital structure.
Peer comparison
Dec 31, 2024