ONTO

MKT CAP:$15B

Onto Innovation Inc.

Market Cap

$15B

Technology·Semiconductors·🇺🇸 United States·NYSE

Technology·Semiconductors·🇺🇸·NYSE

Stock Price

$292.31+$126.44 (+76.23%)

Apr 23, 2026

Company Details

Onto Innovation Inc. engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software world...

CEO

Michael Plisinski

IPO Date

Oct 28, 2019

Website

www.ontoinnovation.com

Key Metrics TTM

Revenue

$1.0B

+1.8% YoY

Net Income

$137M

EPS (Diluted)

$2.77

Free Cash Flow

$300M

Revenue / Share

$20.29

Gross Margin

49.7%

Operating Margin

13.2%

Net Margin

13.6%

FCF Margin

29.8%

P/S

15.2x

P/E

111.8x

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Feb 24, 2026

$1.0B+1.8%EPS $2.78

Q4 2025

Feb 24, 2026

$267M+1.1%EPS $0.21

Q3 2025

Nov 6, 2025

$218M-13.5%EPS $0.57

Q2 2025

Aug 7, 2025

$254M+4.7%EPS $0.69

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$241M	$131M	$59M
Q2 22	$256M	$132M	$57M
Q3 22	$254M	$139M	$59M
Q4 22	$253M	$137M	$61M
Q1 23	$199M	$105M	$29M
Q2 23	$191M	$100M	$25M
Q3 23	$207M	$107M	$34M
Q4 23	$219M	$108M	$28M
Q1 24	$229M	$118M	$43M
Q2 24	$242M	$128M	$49M
Q3 24	$252M	$136M	$53M
Q4 24	$264M	$132M	$42M
Q1 25	$267M	$143M	$63M
Q2 25	$254M	$122M	$32M
Q3 25	$218M	$111M	$24M
Q4 25	$267M	$124M	$14M

Valuation

Quarter	P/S	P/E
Q1 22	4.8x	24.3x
Q2 22	4.0x	19.6x
Q3 22	3.4x	16.5x
Q4 22	3.7x	16.5x
Q1 23	4.4x	21.4x
Q2 23	6.3x	32.7x
Q3 23	7.3x	39.7x
Q4 23	8.3x	56.0x
Q1 24	10.8x	65.5x
Q2 24	12.0x	64.9x
Q3 24	10.9x	55.9x
Q4 24	8.4x	41.1x
Q1 25	5.8x	27.4x
Q2 25	4.8x	24.8x
Q3 25	6.4x	36.4x
Q4 25	8.8x	64.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$45M	$43M
Q2 22	$10M	$6M
Q3 22	$32M	$29M
Q4 22	$49M	$41M
Q1 23	$50M	$42M
Q2 23	$32M	$27M
Q3 23	$29M	$21M
Q4 23	$62M	$59M
Q1 24	$57M	$50M
Q2 24	$65M	$53M
Q3 24	$67M	$59M
Q4 24	$56M	$51M
Q1 25	$92M	$84M
Q2 25	$58M	$44M
Q3 25	$83M	$82M
Q4 25	$95M	$90M

Capital Expenditures

Quarter	CapEx
Q1 22	$2M
Q2 22	$4M
Q3 22	$3M
Q4 22	$9M
Q1 23	$8M
Q2 23	$5M
Q3 23	$8M
Q4 23	$2M
Q1 24	$7M
Q2 24	$12M
Q3 24	$8M
Q4 24	$5M
Q1 25	$8M
Q2 25	$14M
Q3 25	$1M
Q4 25	$5M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+42.6%	+28.8%
Q2 22	+32.5%	+26.3%
Q3 22	+26.8%	+23.8%
Q4 22	+12.2%	+9.3%
Q1 23	-17.5%	-6.8%
Q2 23	-25.6%	-16.6%
Q3 23	-18.5%	-11.2%
Q4 23	-13.6%	-0.7%
Q1 24	+14.9%	+9.4%
Q2 24	+27.1%	+16.7%
Q3 24	+21.7%	+15.0%
Q4 24	+20.6%	+16.2%
Q1 25	+16.5%	+9.3%
Q2 25	+4.7%	+14.4%
Q3 25	-13.5%	-2.3%
Q4 25	+1.1%	+14.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$5M	2.0%
Q2 22	$8M	3.1%
Q3 22	$6M	2.4%
Q4 22	$5M	2.2%
Q1 23	$6M	3.1%
Q2 23	$8M	4.1%
Q3 23	$6M	2.9%
Q4 23	$6M	2.6%
Q1 24	$6M	2.8%
Q2 24	$8M	3.4%
Q3 24	$7M	2.8%
Q4 24	$7M	2.6%
Q1 25	$7M	2.6%
Q2 25	$7M	2.6%
Q3 25	$7M	3.2%
Q4 25	$7M	2.7%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$26M	$16M	$16M
Q2 22	$26M	$18M	$17M
Q3 22	$32M	$17M	$17M
Q4 22	$28M	$18M	$16M
Q1 23	$27M	$19M	$16M
Q2 23	$27M	$19M	$16M
Q3 23	$26M	$18M	$15M
Q4 23	$24M	$27M	$15M
Q1 24	$27M	$18M	$18M
Q2 24	$27M	$20M	$19M
Q3 24	$28M	$22M	$19M
Q4 24	$35M	$26M	$19M
Q1 25	$28M	$24M	$20M
Q2 25	$35M	$25M	$15M
Q3 25	$32M	$25M	$17M
Q4 25	$36M	$33M	$18M

Revenue Segments

Quarter	Parts Revenue	Service Revenue	Systems And Software Revenue
Q1 22	$20M	$12M	$209M
Q2 22	$23M	$13M	$221M
Q3 22	$22M	$17M	$216M
Q4 22	$20M	$14M	$219M
Q1 23	$20M	$12M	$167M
Q2 23	$18M	$13M	$159M
Q3 23	$20M	$18M	$169M
Q1 24	$20M	$14M	$195M
Q2 24	$17M	$15M	$210M
Q3 24	$20M	$15M	$217M
Q1 25	$18M	$17M	$231M
Q2 25	$20M	$19M	$215M
Q3 25	$24M	$20M	$174M
Q4 25	$22M	$16M	$228M

Revenue by Geography

Quarter	China	Europe	Japan	Korea, Republic Of	Southeast Asia	Taiwan, Province Of China	United States	Taiwan
Q1 22	$63M	$18M	$9M	$61M	$9M	$53M	$27M	—
Q2 22	$68M	$19M	$11M	$69M	$10M	—	$31M	$48M
Q3 22	$78M	$18M	$14M	$41M	$26M	—	$27M	$50M
Q4 22	$35M	$25M	$25M	$53M	$25M	—	$42M	$48M
Q1 23	$37M	$18M	$15M	$45M	$17M	—	$41M	$27M
Q2 23	$42M	$7M	$14M	$38M	$26M	—	$33M	$31M
Q3 23	$30M	$23M	$33M	$39M	$25M	—	$30M	$28M
Q1 24	$21M	$6M	$13M	$80M	$16M	—	$21M	$71M
Q2 24	$33M	$17M	$19M	$71M	$24M	—	$19M	$60M
Q3 24	$32M	$15M	$13M	$77M	$16M	—	$22M	$78M
Q1 25	$12M	$17M	$8M	$93M	$8M	—	$26M	$103M
Q2 25	$17M	$13M	$34M	$83M	$14M	—	$28M	$66M
Q3 25	$27M	$11M	$16M	$45M	$22M	—	$38M	$59M
Q4 25	$14M	$16M	$37M	$59M	$20M	—	$30M	$91M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$172M	$369M	$542M
Q2 22	$180M	$365M	$545M
Q3 22	$200M	$352M	$553M
Q4 22	$176M	$372M	$548M
Q1 23	$230M	$353M	$584M
Q2 23	$224M	$385M	$610M
Q3 23	$207M	$423M	$630M
Q4 23	$234M	$464M	$698M
Q1 24	$191M	$550M	$741M
Q2 24	$173M	$613M	$786M
Q3 24	$189M	$667M	$855M
Q4 24	$213M	$639M	$852M
Q1 25	$204M	$647M	$851M
Q2 25	$217M	$677M	$895M
Q3 25	$603M	$381M	$984M
Q4 25	$0	$640M	$640M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	50M	+0.1%	+0.7%
Q2 22	50M	-0.0%	+0.4%
Q3 22	50M	+0.1%	+0.4%
Q4 22	49M	-1.1%	-0.9%
Q1 23	49M	-0.6%	-1.6%
Q2 23	49M	+0.3%	-1.3%
Q3 23	49M	+0.3%	-1.1%
Q4 23	50M	+0.3%	+0.3%
Q1 24	50M	+0.2%	+1.1%
Q2 24	50M	+0.1%	+0.8%
Q3 24	50M	+0.0%	+0.6%
Q4 24	50M	-0.1%	+0.1%
Q1 25	49M	-0.4%	-0.5%
Q2 25	49M	-0.8%	-1.3%
Q3 25	49M	+0.2%	-1.2%
Q4 25	50M	+0.9%	-0.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$171.0K	1K
Q2 22	$181.7K	1K
Q3 22	$180.2K	1K
Q4 22	$154.8K	2K
Q1 23	$121.7K	2K
Q2 23	$116.5K	2K
Q3 23	$126.6K	2K
Q4 23	$146.2K	1K
Q1 24	$152.9K	1K
Q2 24	$161.9K	1K
Q3 24	$168.5K	1K
Q4 24	$170.2K	2K
Q1 25	$171.9K	2K
Q2 25	$163.5K	2K
Q3 25	$140.7K	2K
Q4 25	$165.2K	2K

Revenue / Employee