Onto Innovation (ONTO) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Onto Innovation

NYSE•Technology•Semiconductor Equipment & Materials

$281.26+12.34(0.05%)Market closed

Market Cap

$13.02B

P/E

83.4x

P/S

11.8x

P/B

6.8x

Onto Innovation Inc. engages in the design, development, manufacture, and support of process control tools that perform macro-defect inspection and metrology in the United States, Taiwan, South Korea, Japan, China, Southeast Asia, Asia, and Europe. The company offers lithography systems and process control analytical software; and automated and integrated metrology systems, silicon wafer all-surface inspection, macro defect inspection, automated defect classification and pattern analysis, yield analysis, opaque film metrology, 4D business, advanced packaging lithography, process control software, and yield management software products. It also provides process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements. In addition, the company offers process control software portfolio that includes solutions for standalone tools, groups of tools, and factory-wide suites. Further, it engages in systems and software, spare parts, and other services, as well as offers software licensing services; and provides advanced product lines, such as FAaST, CnCV, and MBIR. The company's products are used in semiconductor and advanced packaging device manufacturers; silicon wafers; semiconductor integrated circuit fabricators; light emitting diodes; vertical-cavity surface-emitting lasers; micro-electromechanical systems; CMOS image sensors; silicon and compound semiconductor power devices; analog devices; RF filters; data storage; and various industrial and scientific applications. Onto Innovation Inc. was founded in 1940 and is headquartered in Wilmington, Massachusetts.

How this company scores

AverageMetricSide Score: 56/100

Strongest: Cash & Earnings Quality (16/25); weakest: Growth (12/25).

Profitability13/25

Growth12/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality16/25

Strengths

Interest easily coveredCash-backed earningsConsistent free cash flowConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 83.4x5y range 14.9x – 83.4x

Currently above its 19-quarter median.

P/S · 11.8x5y range 3.3x – 12.5x

Currently above its 19-quarter median.

P/B · 6.8x5y range 2.0x – 6.8x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 33.8% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Price & Volume

Market Cap $13.02B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.11B
Q. Revenue: $343.13M
TTM EBITDA: $231.68M
TTM Op. Income: $153.00M
Q. Op. Income: $63.55M
TTM Net Income: $155.99M
Q. Net Income: $60.10M
EPS: $1.22
Shares Out.: $49.41M

$1.11B in TTM revenue grew 8.0% YoY, reaching $343.13M last quarter. TTM EBITDA of $231.68M and TTM operating income of $153.00M show growth is flowing through to the bottom line. TTM net income of $155.99M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 2 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 53.4%
EBITDA Margin: 26.0%
Op. Margin: 18.5%
Net Margin: 17.5%

Op. margin of 18.5% is down 5.2% YoY — costs are rising relative to revenue. Net margin at 17.5% and gross margin of 53.4% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 83.4x
P/S Ratio: 11.8x
P/B Ratio: 6.8x

At 83.4x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 11.8x and P/B of 6.8x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 3 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $3.70B
Cash: $1.25B
Long-Term Debt: N/A
Book Value: $1.92B
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $61.51M
TTM Free Cash Flow: $206.78M
FCF Margin: 18.7%
FCF / Net Income: 1.3

TTM FCF of $206.78M on $61.51M in operating cash flow. The FCF / Net Income ratio of 1.3x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.