Onto Innovation Inc (ONTO)
Financial leverage 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 |
| Financial leverage ratio | 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 | 1.15 | 1.03 | 1.04 | 1.03 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $1,909,710K ÷ $1,736,540K
= 1.10
The financial leverage ratio for Onto Innovation Inc has been relatively stable around the range of 1.10 to 1.17 over the past several quarters. This indicates that the company has been using a moderate level of financial leverage to support its operations and growth.
A financial leverage ratio of 1.10 to 1.17 suggests that Onto Innovation Inc has been relying more on debt financing compared to equity to fund its operations and investments. The company's financial structure appears to be balanced, as it is not overly reliant on debt to finance its activities.
It is important to note that while a moderate level of leverage can enhance returns for shareholders during good times, it also increases the risk exposure of the company during economic downturns or times of financial instability. Therefore, it would be prudent for Onto Innovation Inc to carefully manage its debt levels and maintain a healthy balance between debt and equity in its capital structure to ensure long-term sustainability and stability.
Peer comparison
Dec 31, 2023