# Onto Innovation Inc. (ONTO) — Stock CV

Onto Innovation Inc. is a $14.4B technology company. Revenue grew 8.1% over the last year, and it holds more cash than debt.

> Onto Innovation Inc is engaged in the design, development, manufacture, and support of high-performance control metrology, defect inspection, lithography, and data analysis systems used by microelectronics device manufacturers. The Company and its subsidiaries currently operate in a single operating segment.

## Identity

- **Ticker**: ONTO
- **Sector**: Technology
- **Industry**: Measuring & Controlling Devices, Nec
- **Headquarters**: WILMINGTON, MA
- **Employees**: 1 790
- **Website**: https://www.ontoinnovation.com
- **Market cap**: $14.4B
- **Last price**: $294.00
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $1.12B
- **Free cash flow**: $252M
- **Net cash**: $622M
- **P/E**: 109.0
- **Revenue growth (YoY)**: 8.1%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 10 |
| Growth | 62 |
| Profitability | 49 |
| Health | 100 |
| Quality | 77 |
| Moat | 70 |

## Qualifications (beginner checklist) — 7 of 9 passed

- [x] Revenue growing — +8.1% YoY
- [ ] Profit growing — -14.8% YoY
- [x] Generates cash — $252M TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $14.4B market cap
- [x] Not printing shares — -0.6% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [x] Financially stable — Altman Z 6.3 — safe
- [ ] Valuation not extreme — P/E 109.0

## Experience (career milestones)

- **FY2022** — Revenue crossed $1B: $1.01B for the year
- **FY2022** — Best year on record: $223M net income
- **2019** — Onto Innovation Inc. is an American semiconductor company formed in 2019 from the merger of Rudolph Technologies, Inc
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2015** — Rudolph acquired the inspection technology of Stella Alliance in 2015, adding patents to enhance its inspection…
- **2013** — Rudolph announced the acquisition of selected assets of Tamar Technology, Newbury Park, CA, a supplier of…
- **2009** — Adventa Control Technologies, Inc., a provider of process control software, was acquired in 2009
- **2008** — The acquisition of RVSI Inspection LLC and its Wafer Scanner inspection system was announced in 2008
- **2007** — The company acquired the semiconductor business of Washington-based Applied Precision LLC, adding probe…
- **2002** — RTI agreed to acquire the Richardson, Texas-based defect control company ISOA, Inc
- **1999** — RTI made its initial public offering of common stock
- **1975** — Nanometrics was founded in 1975 and was a pioneer and innovator in the field of optical metrology
- **1970** — Originally an importer of microscopes and scientific instruments, this RTI predecessor was renamed in October 1970…

## Strengths

- High gross margin (55.1%)
- Strong cash conversion — FCF is 22.5% of revenue
- Net cash position after subtracting debt from cash
- Interest covered 174.0× by operating earnings
- Altman Z-Score 6.29 — low bankruptcy-risk zone

## Watch-outs

- None stand out in the data.

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $789M | $142M | $163M |
| FY2022 | $1.01B | $223M | $118M |
| FY2023 | $816M | $121M | $149M |
| FY2024 | $987M | $202M | $214M |
| FY2025 | $1.01B | $137M | $300M |

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Source: https://stockcv.com/ONTO — derived from company filings; may be delayed or incomplete. Information, not investment advice.