Company profile · free preview
Onto Innovation Inc.
ONTO · NYSE · Technology · Updated 10/21/2026
Revenue
$987.3M
Fiscal 2024
Net income
$201.7M
Fiscal 2024
Free cash flow
$213.8M
Fiscal 2024
Net cash / (debt)
—
Fiscal 2024
Five-year financials
| Fiscal year | 2024 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Revenue | $987.3M | $788.9M | $788.9M | $556.5M | $60.9M |
| Net income | $201.7M | $142.3M | $142.3M | $31.0M | $7.6M |
| Diluted EPS | — | — | — | — | — |
| Operating cash flow | $245.7M | $175.3M | $175.3M | $106.0M | $18.1M |
| Free cash flow | $213.8M | $163.2M | $163.2M | $102.2M | $11.3M |
| Cash | $212.9M | $169.6M | $169.6M | $136.7M | $130.7M |
| Total debt | — | — | — | — | — |
Where the cash went
Cumulative, fiscal 2019–2024, straight from the reported cash-flow statements.
Reinvested in capex
9.2%
of operating cash flow
Returned to owners
—
of free cash flow (buybacks + dividends)
Diluted share count
—
change 2019–2024
| Operating cash flow | $720.4M |
| Capital expenditure | ($66.6M) |
| Free cash flow | $653.8M |
| Share buybacks | — |
| Dividends paid | — |
| Acquisitions (net) | — |
| Net debt issued / (repaid) | — |
| Stock-based compensation (non-cash) | — |
"—" means a year didn't report that line, so no total is shown rather than an estimate.
SEC filings
No filings stored yet.
Analyst overview
Onto Innovation Inc. operates in the semiconductor equipment industry, providing process control tools, materials, and software to manufacturers of advanced semiconductors and other critical components. The company generates revenue through the sale of its inspection, measurement, and lithography systems, along with related services and software licenses. Its competitive position is built on specialized technology crucial for yield management and quality control in complex manufacturing environments, serving a global client base that includes leading integrated device manufacturers and foundries.
Over the past several years, Onto Innovation has demonstrated consistent financial growth. Revenue has increased steadily from 556.5 million in 2020 to 987.3 million in 2024, accompanied by a significant expansion in net income, rising from 31.0 million to 201.7 million over the same period. The company has also generated robust free cash flow, escalating from 102.2 million in 2020 to 213.8 million in 2024, while maintaining a strong cash position of 212.9 million with no reported debt as of 2024.
A key strength for Onto Innovation lies in its specialized technology and strong free cash flow generation, providing financial flexibility and enabling ongoing investment in R&D. However, the company faces inherent risks associated with the cyclical nature of the semiconductor industry and intense competition. Investors should closely monitor the pace of new product adoption, overall semiconductor capital expenditure trends, and the company's ability to navigate potential supply chain disruptions.
AI-generated from published financials and filings · 10/21/2026. Not investment advice.
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