Entegris vs Onto Innovation
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The short version
- Entegris is the larger business, with $3.2B of revenue in fiscal 2025 against $1.0B for Onto Innovation, about 3.2 times as much.
- Onto Innovation grew revenue faster (1.8%, against −1.4%).
- Entegris kept more of each dollar of sales as operating profit (14.3% operating margin, against 13.2%).
- Onto Innovation turned more of its sales into free cash flow (29.8% FCF margin, against 12.4%).
- Onto Innovation earned a higher return on the capital invested in it (8.8%, against 5.8%).
- Investors pay more for each dollar of Onto Innovation’s earnings: a P/E of 74.7x against 67.3x for Entegris.
| Latest fiscal year | ENTG · FY25 | ONTO · FY25 |
|---|---|---|
| Size | ||
| Market cap | $20.7B | $9.9B |
| Revenue | $3.2B | $1.0B |
| Free cash flow | $396M | $300M |
| Net income | $236M | $137M |
| Growth | ||
| Revenue growth | −1.4% | 1.8% |
| 5-year growth | 11.5% | 12.6% |
| Share count change | 0.3% | −0.8% |
| Profitability | ||
| Gross margin | 44.4% | 49.7% |
| Operating margin | 14.3% | 13.2% |
| Net margin | 7.4% | 13.6% |
| FCF margin | 12.4% | 29.8% |
| Return on capital | 5.8% | 8.8% |
| Return on equity | 6.2% | 6.8% |
| Balance sheet | ||
| Net debt | $3.4B | −$640M |
| Net debt / EBITDA | — | −3.3x |
| Dividends and buybacks | $60.8M | $75.0M |
| Valuation & quality | ||
| P/E | 67.3x | 74.7x |
| Piotroski F-score | 6 | 4 |
Revenue
FY16
ENTG $1.2B
ONTO $221M
FY17
ENTG $1.3B
ONTO $259M
FY18
ENTG $1.6B
ONTO $325M
FY19
ENTG $1.6B
ONTO $306M
FY20
ENTG $1.9B
ONTO $557M
FY21
ENTG $2.3B
ONTO $789M
FY22
ENTG $3.3B
ONTO $1.0B
FY23
ENTG $3.5B
ONTO $816M
FY24
ENTG $3.2B
ONTO $987M
FY25
ENTG $3.2B
ONTO $1.0B
ENTG
ONTO
Operating margin
FY16
ENTG 13.2%
ONTO 13.2%
FY17
ENTG 18.0%
ONTO 16.6%
FY18
ENTG 18.9%
ONTO 20.5%
FY19
ENTG 15.0%
ONTO −1.7%
FY20
ENTG 21.3%
ONTO −4.8%
FY21
ENTG 24.0%
ONTO −19.8%
FY22
ENTG 14.6%
ONTO 23.6%
FY23
ENTG 14.2%
ONTO 14.2%
FY24
ENTG 16.5%
ONTO 19.0%
FY25
ENTG 14.3%
ONTO 13.2%
ENTG
ONTO
Free cash flow
FY16
ENTG $142M
ONTO $41.7M
FY17
ENTG $200M
ONTO $15.4M
FY18
ENTG $202M
ONTO $95.9M
FY19
ENTG $270M
ONTO $11.3M
FY20
ENTG $315M
ONTO $102M
FY21
ENTG $190M
ONTO $163M
FY22
ENTG −$103M
ONTO $118M
FY23
ENTG $188M
ONTO $149M
FY24
ENTG $316M
ONTO $214M
FY25
ENTG $396M
ONTO $300M
ENTG
ONTO
Return on capital
FY16
ENTG 11.5%
ONTO 21.7%
FY17
ENTG 11.4%
ONTO 19.3%
FY18
ENTG 22.1%
ONTO 37.1%
FY19
ENTG 11.9%
ONTO −0.7%
FY20
ENTG 18.1%
ONTO −2.3%
FY21
ENTG 22.8%
ONTO −13.7%
FY22
ENTG 7.6%
ONTO 22.3%
FY23
ENTG 6.2%
ONTO 10.2%
FY24
ENTG 6.5%
ONTO 16.2%
FY25
ENTG 5.8%
ONTO 8.8%
ENTG
ONTO
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.