Onto Innovation Inc. (ONTO) Key Metrics
ONTO valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $10.83B
- Enterprise value
- $5.97B
- P/E (TTM)
- 83.0 10-yr median 38.2
- Forward P/E
- 22.8
- PEG ratio
- 0.76
- Price / sales
- 9.7 10-yr median 3.9
- Price / book
- 3.5 10-yr median 2.6
- EV / EBITDA
- 23.5 10-yr median 20.9
- Dividend yield
- —
- Beta
- 1.58
ONTO key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsONTO valuation Price multiples at each fiscal year-end price.
ONTO returns How much profit the business earns on the capital it uses.
ONTO per-share figures Results divided by the shares outstanding at year-end.
ONTO financial health Debt, liquidity and how easily interest is covered.
ONTO efficiency & capital use Working capital cycle and where the cash goes.
ONTO valuation history
ONTO returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ONTO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ONTO cash returned to shareholders
ONTO price vs earnings per share
ONTO key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $7.78B | $8.28B | $7.54B | $3.39B | $5.03B | $2.35B | $1.10B | $880.0M | $801.5M | $796.7M |
| Enterprise value | $7.16B | $7.44B | $6.86B | $2.86B | $4.54B | $2.00B | $801.1M | $712.9M | $635.9M | $683.2M |
| P/E ratio | 56.9 | 41.0 | 62.2 | 15.2 | 35.4 | 75.8 | 574.1 | 19.5 | 24.4 | 21.6 |
| Price / sales | 7.7 | 8.4 | 9.2 | 3.4 | 6.4 | 4.2 | 3.6 | 3.2 | 3.1 | 3.4 |
| Price / book | 3.7 | 4.3 | 4.3 | 2.1 | 3.5 | 1.9 | 0.9 | 2.4 | 2.4 | 2.7 |
| Price / free cash flow | 25.9 | 38.7 | 50.5 | 28.6 | 30.8 | 23.0 | 96.7 | 31.9 | 15.1 | 19.3 |
| Price / operating cash flow | 23.7 | 33.7 | 43.8 | 24.8 | 28.7 | 22.2 | 60.4 | 25.1 | 12.5 | 17.1 |
| EV / sales | 7.1 | 7.5 | 8.4 | 2.8 | 5.8 | 3.6 | 2.6 | 2.6 | 2.5 | 2.9 |
| EV / EBITDA | 32.0 | 26.3 | 34.3 | 9.3 | 20.5 | 21.2 | 70.5 | 12.4 | 12.2 | 15.6 |
| EV / free cash flow | 23.9 | 34.8 | 45.9 | 24.2 | 27.8 | 19.6 | 70.6 | 25.9 | 12.0 | 16.5 |
| Earnings yield | 1.8% | 2.4% | 1.6% | 6.6% | 2.8% | 1.3% | 0.2% | 5.1% | 4.1% | 4.6% |
| Free cash flow yield | 3.9% | 2.6% | 2.0% | 3.5% | 3.2% | 4.3% | 1.0% | 3.1% | 6.6% | 5.2% |
| Shareholder yield (dividends + buybacks) | 1.0% | 0.3% | 0.0% | 1.9% | 0.1% | 2.2% | 0.1% | 2.4% | 0.2% | 1.0% |
| Share price at fiscal year-end | $157.86 | $166.67 | $152.90 | $68.09 | $101.23 | $47.55 | $36.54 | $27.33 | $24.92 | $25.06 |
| Per share | ||||||||||
| Revenue per share | $20.40 | $19.88 | $16.54 | $20.20 | $15.86 | $11.25 | $10.19 | $8.50 | $7.93 | $7.32 |
| Earnings per share | $2.78 | $4.06 | $2.46 | $4.49 | $2.86 | $0.63 | $0.06 | $1.40 | $1.02 | $1.16 |
| Operating cash flow per share | $6.66 | $4.95 | $3.49 | $2.75 | $3.52 | $2.14 | $0.60 | $1.09 | $2.00 | $1.47 |
| Free cash flow per share | $6.08 | $4.30 | $3.03 | $2.38 | $3.28 | $2.06 | $0.38 | $0.86 | $1.65 | $1.30 |
| Cash per share | $12.98 | $17.16 | $14.15 | $11.01 | $10.28 | $7.55 | $10.67 | $5.44 | $5.51 | $3.96 |
| Book value per share | $42.63 | $38.78 | $35.21 | $32.08 | $28.68 | $25.56 | $42.12 | $11.24 | $10.36 | $9.24 |
| Tangible book value per share | $23.51 | $29.57 | $25.41 | $21.27 | $16.75 | $12.93 | $19.49 | $10.31 | $8.69 | $8.21 |
| Capex per share | $0.58 | $0.64 | $0.46 | $0.37 | $0.24 | $0.08 | $0.23 | $0.23 | $0.35 | $0.17 |
| Debt per share | $0.35 | $0.31 | $0.40 | $0.44 | $0.36 | $0.42 | $0.83 | $0.25 | $0.37 | $0.39 |
| Shares outstanding | 49.3M | 49.7M | 49.3M | 49.8M | 49.7M | 49.5M | 30.0M | 32.2M | 32.2M | 31.8M |
| Change in shares outstanding | −0.8% | +0.7% | −0.9% | +0.1% | +0.5% | +64.9% | −6.8% | +0.1% | +1.2% | −1.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 6.8% | 11.0% | 7.3% | 14.8% | 10.6% | 2.5% | 0.2% | 13.0% | 10.5% | 13.1% |
| Return on invested capital (ROIC) | 8.7% | 15.9% | 10.0% | 21.8% | 15.5% | 2.8% | −0.7% | 23.8% | 18.8% | 22.3% |
| Return on assets (ROA) | 6.1% | 10.0% | 6.5% | 13.0% | 9.1% | 2.1% | 0.2% | 11.2% | 9.1% | 10.3% |
| Return on tangible assets | 9.6% | 12.2% | 8.5% | 17.8% | 13.5% | 3.7% | 0.2% | 11.6% | 9.9% | 12.1% |
| Free cash flow margin | 29.8% | 21.7% | 18.3% | 11.8% | 20.7% | 18.4% | 3.7% | 10.1% | 20.8% | 17.8% |
| Income quality (OCF / net income) | 2.40 | 1.22 | 1.42 | 0.61 | 1.23 | 3.42 | 9.50 | 0.78 | 1.96 | 1.26 |
| Financial health | ||||||||||
| Total debt | $17.5M | $15.2M | $19.5M | $22.0M | $17.7M | $20.9M | $24.9M | $7.9M | $11.8M | $12.3M |
| Cash & short-term investments | $639.6M | $852.3M | $697.8M | $547.8M | $511.3M | $373.7M | $320.2M | $175.1M | $177.4M | $125.7M |
| Net debt | −$622.1M | −$837.2M | −$678.3M | −$525.8M | −$493.6M | −$352.8M | −$295.4M | −$167.2M | −$165.6M | −$113.5M |
| Debt / equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.04 | 0.04 |
| Debt / assets | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.03 | 0.04 |
| Net debt / EBITDA | −2.79 | −2.96 | −3.39 | −1.72 | −2.23 | −3.74 | −25.98 | −2.91 | −3.17 | −2.60 |
| Current ratio | 5.79 | 8.69 | 8.69 | 7.07 | 6.14 | 6.09 | 7.48 | 7.80 | 7.61 | 7.30 |
| Quick ratio | 4.43 | 7.00 | 6.47 | 5.05 | 4.56 | 4.50 | 5.43 | 5.65 | 6.02 | 5.48 |
| Interest coverage | — | — | — | 47.2 | 215.7 | 139.7 | -1.4 | 23.2 | 61.1 | 18.2 |
| Working capital | $1.05B | $1.31B | $1.14B | $974.3M | $793.6M | $611.6M | $555.9M | $305.9M | $279.8M | $226.7M |
| Invested capital | $1.48B | $1.09B | $1.06B | $1.07B | $932.4M | $911.9M | $968.7M | $194.7M | $167.6M | $180.3M |
| Tangible asset value | $1.16B | $1.47B | $1.25B | $1.06B | $833.0M | $639.8M | $584.9M | $331.9M | $279.5M | $261.0M |
| Net current asset value | $1.00B | $1.29B | $1.11B | $936.4M | $724.3M | $528.2M | $457.1M | $294.8M | $269.3M | $217.7M |
| Graham number | $51.60 | $59.53 | $44.12 | $56.92 | $42.98 | $18.99 | $7.77 | $18.82 | $15.44 | $15.55 |
| Graham net-net per share | $14.68 | $20.86 | $17.41 | $13.92 | $10.90 | $7.64 | $10.55 | $6.69 | $6.45 | $5.16 |
| Capital allocation | ||||||||||
| Share buybacks (net) | $75.0M | $25.1M | $3.2M | $65.3M | $7.4M | $52.0M | $744,000 | $21.1M | $1.4M | $8.0M |
| Dividends + buybacks / free cash flow | 25.0% | 11.7% | 2.1% | 55.2% | 4.5% | 50.9% | 6.6% | 76.5% | 2.6% | 19.5% |
| Capex / revenue | 2.8% | 3.2% | 2.8% | 1.8% | 1.5% | 0.7% | 2.2% | 2.8% | 4.4% | 2.3% |
| Capex / operating cash flow | 8.7% | 13.0% | 13.1% | 13.5% | 6.9% | 3.6% | 37.5% | 21.5% | 17.4% | 11.3% |
| Capex / depreciation | 0.47 | 0.51 | 0.34 | 0.28 | 0.18 | 0.06 | 0.41 | 1.18 | 1.89 | 0.88 |
| Stock-based compensation / revenue | 2.7% | 2.9% | 3.1% | 2.4% | 2.5% | 3.2% | 3.5% | 2.2% | 2.2% | 2.1% |
| R&D / revenue | 13.1% | 11.8% | 12.8% | 11.1% | 12.2% | 15.2% | 15.8% | 17.9% | 18.4% | 19.3% |
| SG&A / revenue | 17.6% | 16.4% | 17.8% | 13.5% | 15.9% | 20.4% | 26.6% | 12.3% | 10.9% | 10.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 104.8 | 98.8 | 104.7 | 76.0 | 75.5 | 89.5 | 112.1 | 86.3 | 94.9 | 96.3 |
| Days of inventory on hand | 211.3 | 237.7 | 300.8 | 222.2 | 220.3 | 241.1 | 291.5 | 239.0 | 201.4 | 228.9 |
| Days payables outstanding | 59.2 | 41.0 | 48.2 | 42.2 | 47.4 | 44.6 | 62.4 | 83.6 | 56.1 | 32.3 |
| Cash conversion cycle (days) | 256.9 | 295.5 | 357.3 | 256.0 | 248.4 | 286.0 | 341.2 | 241.7 | 240.2 | 292.8 |
| Receivables turnover | 3.48 | 3.69 | 3.49 | 4.80 | 4.83 | 4.08 | 3.26 | 4.23 | 3.85 | 3.79 |
| Payables turnover | 6.17 | 8.89 | 7.58 | 8.64 | 7.69 | 8.19 | 5.85 | 4.37 | 6.51 | 11.30 |
| Inventory turnover | 1.73 | 1.54 | 1.21 | 1.64 | 1.66 | 1.51 | 1.25 | 1.53 | 1.81 | 1.59 |
| Asset turnover | 0.45 | 0.49 | 0.44 | 0.58 | 0.51 | 0.38 | 0.33 | 0.68 | 0.70 | 0.65 |
| Average receivables | $288.5M | $267.3M | $234.0M | $209.3M | $163.2M | $136.5M | $93.9M | $64.7M | $66.3M | $61.4M |
| Average payables | $82.0M | $53.1M | $52.2M | $53.9M | $46.8M | $34.0M | $29.2M | $28.7M | $18.5M | $9.7M |
| Average inventory | $292.6M | $307.4M | $326.0M | $283.7M | $217.2M | $183.7M | $136.5M | $82.2M | $66.5M | $68.5M |
| Intangibles / total assets | 39.8% | 21.6% | 25.3% | 30.0% | 35.9% | 42.6% | 46.9% | 7.2% | 13.9% | 9.7% |
Computed from ONTO's annual financial statements (latest annual report filed February 24, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ONTO valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Onto Innovation traded at 56.9 times earnings, against a 10-year median of 38.2. Based on the latest twelve months, the trailing P/E is 83.0 and the forward P/E is 22.8. Onto Innovation earned a return on equity of 6.8% and a return on invested capital of 8.7% in fiscal 2025. It ended the year with $17.5 million of debt and $639.6 million in cash and short-term investments, a net cash position of $622.1 million. It returned $75.0 million to shareholders: $0 in dividends and $75.0 million in share buybacks, 25% of free cash flow. The share count rose 55.0% from 31.8M to 49.3M over 9 years.
See the ONTO income statement, the ONTO chart for price history, or the ONTO stock overview for the latest quote and news.
ONTO key metrics FAQ
What is Onto Innovation's P/E ratio?
Onto Innovation's trailing P/E ratio is 83.0 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 22.8. At the end of fiscal 2025 it was 56.9, compared with a 10-year median of 38.2.
What is Onto Innovation's EV/EBITDA?
Onto Innovation's enterprise value was 32.0 times EBITDA at the end of fiscal 2025 (enterprise value $7.2 billion, EBITDA $223.3 million); the current EV/EBITDA is 23.5.
What is Onto Innovation's return on equity?
Onto Innovation's return on equity (ROE) was 6.8% in fiscal 2025: net income of $136.8 million on average shareholders' equity of $2.0 billion.
What is Onto Innovation's ROIC?
Onto Innovation's return on invested capital was 8.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Onto Innovation have?
Onto Innovation had total debt of $17.5 million at the end of fiscal 2025, a debt-to-equity ratio of 0.01 and more cash than debt.
Does Onto Innovation buy back its shares?
Yes. Onto Innovation spent $75.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −0.8% over the year, to 49.3M..
What is Onto Innovation's free cash flow yield?
Onto Innovation generated $299.8 million of free cash flow in fiscal 2025, a free cash flow yield of 3.9% on its market value at year-end ($7.8 billion).
What is Onto Innovation's current ratio?
Onto Innovation's current ratio was 5.79 at the end of fiscal 2025: current assets were 5.79 times current liabilities.