Buybacks largely absorbed by stock pay. Stock-based pay expense $82M vs $103M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed +0.8% from December 2022 to July 2026.
Over three fiscal years Onto Innovation recorded $82M of stock-based pay expense and spent $103M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). The share count barely moved (+0.8%), so much of the repurchasing offset new employee shares rather than shrinking the count.Over three fiscal years Onto Innovation recorded $82M of stock-based pay expense and spent $103M repurchasing shares. The share count barely moved (+0.8%), so much of the repurchasing offset new employee shares rather than shrinking the count.
Sales growing faster than profits. Since 2022: revenue +0.0%, operating profit −44%.
Since 2022, Onto Innovation's revenue changed +0.0% while operating profit fell 44%: costs rose faster than sales.
Profit is backed by cash. Free cash flow is 190% of reported profit.
Onto Innovation's free cash flow is 190% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.
More volatile share price. Beta 1.58: tends to move more than the market.
Onto Innovation's shares have swung more with the market than most peers' (beta 1.58, above the market's 1.0).
StockQuotient Score
56/ 100▼ 1 since Oct 27 closeOct 5 55 → Nov 4 56 (+1)
Since last quarter: No major changeValuation also moves with the share price every day.
Why it changed since the Oct 27, 2026 close: Score 39 → 38
Share price -5.5%+1
Peer companies moved-2
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score -2.27Sector median: 0.2495 · MAD: 0.2270
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about Onto Innovation
Is Onto Innovation getting weaker?
Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is 56/100, down 1 since Oct 28, 2026.
How is Onto Innovation valued vs its peers?
Priced higher than most peers relative to what it earns. Valuation scores 38/100 against 1,711 technology peers.Earnings yield 1.3% vs a peer median of 2.2% (weaker than 61% of peers).Earnings yield 1.3% vs peers 2.2% (weaker than 61% of peers).
Is Onto Innovation growing?
More slowly than most of its peers. Growth scores 36/100 against 1,711 technology peers.Earnings per share growth -33.8% vs a peer median of 11.1% (weaker than 85% of peers).Earnings per share growth -33.8% vs peers 11.1% (weaker than 85% of peers).
How profitable is Onto Innovation?
More profitable than most of its peers. Profitability scores 65/100 against 1,711 technology peers.Return on invested capital 15.9% vs a peer median of 6.8% (stronger than 73% of peers).Return on invested capital 15.9% vs peers 6.8% (stronger than 73% of peers).
How risky is Onto Innovation?
Lower risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings.Current ratio 9.73× vs a peer median of 1.83× (stronger than 95% of peers).Current ratio 9.73× vs peers 1.83× (stronger than 95% of peers).Beta 1.58 vs a peer median of 0.87 (weaker than 86% of peers).Beta 1.58 vs peers 0.87 (weaker than 86% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Aug 6, 2026 · compared with the quarter ended Mar 31, 2026
No major changes
Previous quarter
Latest quarter
Change
Revenue (12 months)
1.0B USD
1.1B USD
+8.7%
Net income (12 months)
106.4M USD
132.6M USD
+24.6%
Operating margin
10.0%
12.0%
+2.0 pts
Free cash flow (12 months)
238.8M USD
252.5M USD
+5.7%
Cash
252.2M USD
1.3B USD
+396.8%
Shares outstanding
49.7M
49.1M
−1.3%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Valuations in Semiconductor Equipment & Materials are near the top of their range since Feb 2021.
84% of months since Feb 2021 were valued lower than now.
81% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is +95% vs the whole market, against a usual +84%.
Feb 2021Shaded: most expensive fifth of its range2026
This is a cyclical group: after a downturn, trailing earnings and sales fall faster than prices, which can make valuations look high near a cycle's low.
Describes valuations since Feb 2021; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
Change
Gross margin
54.4%
53.6%
51.5%
52.2%
49.7%
▼ 2.5 pts
Operating margin
-19.8%
23.5%
14.2%
19.0%
13.2%
▼ 5.7 pts
Net margin
18.0%
22.2%
14.9%
20.4%
13.6%
▼ 6.8 pts
Return on assets (ROA)
8.6%
12.4%
6.3%
9.5%
5.8%
▼ 3.7 pts
Return on equity (ROE)
10.0%
14.0%
7.0%
10.5%
6.5%
▼ 4.0 pts
Free cash flow margin
20.7%
11.8%
18.3%
21.7%
29.8%
▲ 8.2 pts
Current ratio
6.14×
7.07×
8.69×
8.69×
5.79×
▼ 33%
Quick ratio
4.56×
5.05×
6.47×
7.00×
4.43×
▼ 37%
ONTO price history
Price history is added with the daily price update and will appear after the next one.