Onto Innovation (ONTO) FY2023 results: revenue $987 million, up 21.0% on the year
Onto Innovation Inc. (ONTO) reported revenue of $987 million for fiscal 2023, the year ended 28 December 2024, up 21.0% on the year before. Net income was $202 million, up 66.5%, and diluted earnings per share $4.06. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2025.
Revenue
$987 million
+21.0% on the year
FY2016FY2023
Operating margin
19.0%
14.2% a year earlier
FY2016FY2023
Net income
$202 million
+66.5% on the year
FY2016FY2023
Diluted EPS
$4.06
+65.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
246
172
137
+42.9%
Capital expenditure
31.9
22.6
18.4
+41.3%
Free cash flow
214
149
118
+43.1%
Free cash flow margin
21.7%
18.3%
11.8%
Cash from investing
-227
-103
-55.7
Cash from financing
-35.7
-9.5
-68.3
Depreciation and amortisation
62.3
67.2
64.7
-7.3%
Share-based compensation
28.6
25.5
24.4
+12.0%
Buybacks
25.1
3.2
65.3
+684.1%
Diluted shares, weighted
50m
49m
50m
+0.7%
Shares outstanding at period end
49m
49m
49m
+0.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,926
1,737
1,596
+10.9%
Debt
0.0
0.0
0.0
Operating lease liabilities
9.7
14.0
16.3
-30.5%
Other liabilities
181
159
182
+14.0%
Total liabilities and equity
2,117
1,910
1,795
+10.9%
Fixed assets
124
104
92.0
+19.6%
Goodwill
330
316
316
+4.5%
Intangible assets
127
167
222
-23.8%
Investments
639
464
372
+37.7%
Cash and equivalents
213
234
176
-8.8%
Receivables
308
227
241
+36.0%
Inventory
287
328
324
-12.4%
Other assets
88.3
70.8
51.4
+24.8%
Total assets
2,117
1,910
1,795
+10.9%
10-K for the year ended 28 December 2024, filed 25 February 2025: the filing.