Loading…
Makes process-control metrology and inspection systems that check chip and advanced-packaging quality during manufacturing.
Makes process-control metrology and inspection systems that check chip and advanced-packaging quality during manufacturing.
Sells measuring and inspection machines that chipmakers buy for new fab capacity and node changes, so orders follow capex, while service and software on installed machines add a steadier stream. Formed in 2019 by merging Nanometrics and Rudolph Technologies.
In one line: A smaller KLA.
Moat: narrow (process know-how, customer qualification, installed base). Metrology tools are qualified into specific process steps; switching mid-node is costly.
Headquarters: Wilmington, Massachusetts, US · Founded: 2019 · Employees: 1,615
Size ONTO (ONTO) is a United States Information Technology company (Electronic Equipment/Instruments) with a market value of $8.50B, the 861st largest of 3,117 United States companies the cockpit tracks. Shares closed at $173.28 on 6 Nov 2026.
Performance Over six months the shares fell 39.1%, against -25.2% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 19 in its peer set.
Growth Revenue grew 8.1% over the last twelve months (peer median +17.1%); the operating margin is 19.8% (peer median 17.4%).
Valuation It trades at 16.9× forward earnings against a peer median of 25.0× (4th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 29% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is +17 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.4 points below its cost of capital (12.0% WACC).
Short interest Short interest is 5.8% of the free float (15 Oct 2026).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.12B | $1.01B | $987M | $816M | $1.01B |
| Revenue growth | — | +2% | +21% | -19% | — |
| Gross profit | $553M | $505M | $480M | $372M | $484M |
| EBITDA | $307M | $269M | $272M | $194M | $301M |
| Net income | $133M | $137M | $202M | $121M | $223M |
| Free cash flow | $252M | $300M | $214M | $149M | $118M |
| Capital expenditure | $13.8M | $28.5M | $31.9M | $22.6M | $18.4M |
| Total debt | $1.47B | $17.5M | $15.2M | $19.5M | $22.0M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| ONTO ONTO | $8.50B | -39% | +8% | 20% | 16.9× | 29.4% |
| KLA KLAC | $180B | -26% | +16% | 43% | 22.3× | 23.5% |
| Camtek CAMT | $4.53B | -53% | +12% | 23% | 19.6× | 29.7% |
| NVMI NVMI | $9.96B | -40% | +16% | 29% | 25.0× | 32.8% |
| Applied Materials AMAT | $264B | -24% | +8% | 31% | 18.8× | 25.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ONTO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -40.8% | -12.4% | 3rd lowest of 21 |
| 6-month return | -39.1% | -25.2% | 6th lowest of 19 |
| Distance from 52-week high | -55.2% | -44.5% | 5th lowest of 21 |
| Revenue growth (TTM) | +8.1% | +17.1% | 8th lowest of 20 |
| Operating margin | 19.8% | 17.4% | 10th highest of 20 |
| Forward P/E | 16.9× | 25.0× | 4th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 29.4% | 20.7% | 4th most demanding of 15 |
| Growth delivered (Del g) | +12.6% | +13.9% | 6th lowest of 15 |
| Hurdle (Req g minus delivered) | +16.9 pp | +4.0 pp | 3rd most demanding of 15 |
| ROIC minus cost of capital | -0.4 pp | +2.8 pp | 6th lowest of 20 |
| EV / EBITDA | 26.4× | 26.8× | 5th cheapest of 9 |
| Net debt / EBITDA | -1.3× | -1.1× | 3rd least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| ONTO ONTO | United States | $8.50B | -39% | +8% | 20% | 16.9× | 29.4% | +12.6% |
| Cognex CGNX | United States | $8.04B | -27% | +17% | 22% | 24.8× | 25.6% | +4.2% |
| China Railway Signal & Communication 688009.SS | China | $7.39B | 0% | +1% | 12% | 14.9× | -6.3% | -2.9% |
| NVMI NVMI | United States | $9.96B | -40% | +16% | 29% | 25.0× | 32.8% | +26.7% |
| Wuhan Guide Infrared 002414.SZ | China | $6.46B | -32% | +89% | 29% | 37.4× | n/a | n/a |
| Sieyuan Electric 002028.SZ | China | $13.4B | -42% | +35% | 16% | 23.1× | 11.1% | +23.9% |
| Skyverse Technology 688361.SS | China | $13.8B | +33% | +39% | -12% | 563.2× | n/a | n/a |
| Novanta NOVT | United States | $5.11B | -2% | +8% | 12% | 33.9× | 33.5% | +10.7% |
| Chroma Ate 2360.TW | Taiwan | $15.4B | -46% | +101% | 39% | 18.5× | 19.3% | +12.8% |
| INFICON IFCN.SW | Switzerland | $4.51B | 0% | -2% | 17% | 32.8× | 19.7% | +8.4% |
| Itron ITRI | United States | $4.32B | +20% | -4% | 14% | 14.5× | 9.2% | +1.7% |
| Halma HLMA.L | United Kingdom | $17.0B | -25% | +15% | 20% | 25.0× | 21.7% | +14.4% |
| Semight Instruments 688808.SS | China | $17.0B | n/a | n/a | n/a | 51.5× | n/a | n/a |
| Hangzhou Changchuan Technology 300604.SZ | China | $17.3B | +4% | +53% | 27% | 46.1× | 43.8% | +45.8% |
| CIQTEK 688828.SS | China | $4.17B | n/a | +33% | -5% | n/a | n/a | n/a |
| Lasertec 6920.T | Japan | $18.2B | -25% | -19% | 44% | 28.7× | 28.9% | +26.8% |
| Hon Precision 7769.TW | Taiwan | $20.0B | -34% | +257% | 48% | 21.3× | 28.2% | +31.0% |
| Shenzhen SEICHI Technologies 688627.SS | China | $3.37B | -24% | +65% | 3% | 89.1× | n/a | n/a |
| GRG Banking Equipment 002152.SZ | China | $3.26B | -25% | 0% | 9% | 23.0× | 4.0% | +13.5% |
| Syntec Technology 7750.TW | Taiwan | $3.15B | -46% | +60% | 25% | 13.2× | 17.2% | +24.3% |
| Addsino 000547.SZ | China | $3.02B | -49% | -6% | -54% | n/a | n/a | n/a |