Onto Innovation (ONTO) financial statements
Onto Innovation reported revenue of $1.0B in fiscal 2025, up 18.3% a year over 9 years.
Net income was $137M and the operating margin 13.2%, against 13.2% in 2016.
Free cash flow was $300M, and the company returned $75M in net buybacks.
The diluted share count rose 96% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Onto Innovation's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $221M | $255M | $274M | $306M | $556M | $789M | $1.0B | $816M | $987M | $1.0B |
| Cost of revenue | $107M | $121M | $126M | $171M | $278M | $360M | $466M | $396M | $472M | $505M |
| Gross profit | $114M | $135M | $148M | $135M | $278M | $429M | $539M | $420M | $515M | $500M |
| Research and development | $31M | $38M | $40M | $48M | $85M | $96M | $112M | $104M | $114M | $132M |
| Selling, general and admin | $54M | $49M | $56M | $81M | $113M | $125M | $135M | $141M | $156M | $177M |
| Operating income | $29M | $59M | $51M | -$5M | -$27M | -$156M | $237M | $116M | $187M | $133M |
| Interest expense | $285,000 | $92,000 | $331,000 | — | — | — | — | — | — | — |
| Pre-tax income | $29M | $60M | $53M | -$597,000 | -$27M | -$156M | $242M | $133M | $220M | $163M |
| Income tax | -$15M | $27M | $8M | -$18M | -$4M | $13M | $18M | $11M | $19M | $26M |
| Net income | $44M | $33M | $45M | $223M | $31M | $142M | $223M | $121M | $202M | $137M |
| EPS (diluted) | $1.75 | $1.27 | $1.74 | $0.06 | $0.63 | $2.86 | $4.49 | $2.46 | $4.06 | $2.78 |
| Diluted shares | 25M | 26M | 26M | 50M | 49M | 50M | 50M | 49M | 50M | 49M |
| Gross margin | 51.6% | 52.8% | 54.2% | 44.1% | 50.0% | 54.4% | 53.6% | 51.5% | 52.2% | 49.7% |
| Operating margin | 13.2% | 23.2% | 18.7% | -1.6% | -4.8% | -19.8% | 23.5% | 14.2% | 19.0% | 13.2% |
| Net margin | 19.9% | 12.9% | 16.5% | 73.0% | 5.6% | 18.0% | 22.2% | 14.9% | 20.4% | 13.6% |
Balance sheet
Fiscal years, from Onto Innovation's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $130M | $150M | $175M | $320M | $374M | $511M | $548M | $698M | $852M | $640M |
| Receivables | $39M | $62M | $64M | $124M | $149M | $177M | $241M | $227M | $308M | $269M |
| Inventory | $39M | $53M | $97M | $176M | $191M | $243M | $324M | $328M | $287M | $298M |
| Total current assets | $216M | $240M | $351M | $642M | $732M | $948M | $1.1B | $1.3B | $1.5B | $1.3B |
| Property, plant and equipment | $44M | $45M | $19M | $98M | $92M | $82M | $92M | $104M | $124M | $127M |
| Goodwill | $9M | $22M | $22M | $316M | $307M | $316M | $316M | $316M | $330M | $644M |
| Total assets | $288M | $310M | $418M | $1.4B | $1.5B | $1.6B | $1.8B | $1.9B | $2.1B | $2.4B |
| Total current liabilities | $42M | $44M | $45M | $86M | $120M | $155M | $161M | $148M | $170M | $219M |
| Total liabilities | $44M | $47M | $56M | $185M | $203M | $224M | $198M | $173M | $191M | $267M |
| Shareholders' equity | $294M | $333M | $362M | $1.3B | $1.3B | $1.4B | $1.6B | $1.7B | $1.9B | $2.1B |
| Net debt | -$47M | -$68M | -$112M | -$131M | -$137M | -$170M | -$176M | -$234M | -$213M | -$346M |
Cash flow
Fiscal years, from Onto Innovation's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $46M | $64M | $35M | $18M | $106M | $175M | $137M | $172M | $246M | $328M |
| Capital spending | $4M | $10M | $8M | $7M | $4M | $12M | $18M | $23M | $32M | $29M |
| Free cash flow | $42M | $54M | $28M | $11M | $102M | $163M | $118M | $149M | $214M | $300M |
| Stock-based compensation | $8M | $6M | $6M | $11M | $18M | $20M | $24M | $26M | $29M | $28M |
| Share buybacks (net) | — | -$27M | -$21M | -$744,000 | -$52M | $0 | -$65M | -$3M | -$25M | -$75M |
| Free cash flow margin | 18.9% | 21.2% | 10.1% | 3.7% | 18.4% | 20.7% | 11.8% | 18.3% | 21.7% | 29.8% |
Questions
What was Onto Innovation's revenue in 2025?
$1.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does Onto Innovation generate?
$300M in fiscal 2025 (operating cash flow minus capital spending).
From Onto Innovation's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.