Onto Innovation Inc (ONTO)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets 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 |
| Debt-to-capital 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 |
| 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 |
| 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 |
The solvency ratios of Onto Innovation Inc indicate a consistently strong financial position with very low debt levels relative to assets, capital, and equity. The Debt-to-assets ratio, Debt-to-capital ratio, and Debt-to-equity ratio have all remained at 0.00 from March 31, 2020, to December 31, 2024, suggesting that the company operates with minimal debt compared to its total assets and equity.
The Financial leverage ratio, which measures the extent to which the company relies on debt financing, has shown a decreasing trend from 1.16 on March 31, 2020, to 1.09 on June 30, 2024. This decline indicates that Onto Innovation Inc has been gradually reducing its financial leverage and becoming less reliant on debt to finance its operations.
Overall, the solvency ratios of Onto Innovation Inc reflect a conservative financial strategy focused on maintaining a strong financial position with minimal debt levels, which is favorable for the company's long-term stability and financial health.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | — | 54.59 | 48.57 | 40.98 | 18.33 | 26.50 | 24.42 | 26.54 | 47.24 | 79.97 | 136.18 | 159.17 | 134.49 | 50.01 | 20.42 | 2.95 | -9.20 | -3.31 | -3.95 | -4.40 |
The interest coverage ratio of Onto Innovation Inc shows a fluctuating trend over the analyzed period. The company's ability to service its interest obligations was negative in the earlier quarters of the available data, indicating insufficient operating income to cover interest expenses. However, starting from the first quarter of 2021 and onwards, Onto Innovation significantly improved its interest coverage ratio, reaching exceptionally high levels by the end of 2021 and into 2022.
From March 31, 2021, the company experienced a remarkable turnaround with a sharp increase in its interest coverage ratio. This positive trend continued through June 30, 2022, with peak values recorded in March 31, 2022. The company's interest coverage reached notably high levels, suggesting a strong ability to cover interest payments with operating income.
Subsequently, the interest coverage ratio began to decline mildly in the following quarters, though it remained well above industry benchmarks, indicating Onto Innovation's continued ability to comfortably meet its interest obligations. Overall, the trend in Onto Innovation Inc's interest coverage ratio reflects a transformation from struggling to comfortably managing interest expenses, signaling improved financial health and stability.