Forensic Analysis · Industrial & Scientific Instruments · as of Nov 8, 2026

Onto Innovation Inc. (ONTO)

A forensic read on Onto Innovation Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective

Forensic grade

Safe

Financial health

12.6

Distress distance

Clean

Earnings quality

Forensic signals

6.8%

ROE

1.8%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Onto Innovation Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 12.6, placing it in the Safe zone. 1 forensic signal was flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

6.3%

FY2025

Return on invested capital. Return on invested capital is 6.3% in the latest fiscal year, against 6.8% in FY2023, having run between 6.3% and 10.3% across FY2023–FY2025 with no direction held. After-tax operating profit was $104M in FY2023 and $112M in FY2025, with operating income at 14.2% of revenue in FY2023, 19.0% in FY2024 and 13.2% in FY2025. The capital base behind it grew +16% across FY2023–FY2025, from $1.5B to $1.8B, while the return fell 0.5 points, so the dollars added over that window earned less than the 6.8% the older base was already earning. $466M of the $1.8B base at FY2025 is short-term investments (26.4%) — securities held beside cash, which the base keeps because only cash is subtracted from it; they earn the balance sheet's yield, which is not in the operating profit above, so this rate understates what the operating capital earns.

Key fundamentals

Latest Revenue$1.01B

Revenue Growth YoY+1.8%

Revenue CAGR (2yr)+11.0%

Net Margin13.6%

Free Cash Flow$299.8M

Return on Equity6.8%

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Data from SEC EDGAR public filings · metrics as of Nov 8, 2026. Forensic signals flag probability, not certainty.

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