FormFactor vs Onto Innovation
Onto Innovation reported revenue of $1.0 billion in fiscal 2025, 1.3 times FormFactor's $785 million in fiscal 2025. FormFactor's revenue grew 2.8% in its latest year, and Onto Innovation's grew 1.8%. FormFactor had an operating margin of 7.3%, against 13.2% at Onto Innovation. Free cash flow was $12 million at FormFactor and $300 million at Onto Innovation. Their fiscal years end in different months (December 27 and January 3), so the periods don't line up exactly.
Side by side
| FormFactor | Onto Innovation | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 27, 2025 | FY2025, Jan 3, 2026 |
| Revenue | $785M | $1.0B |
| Revenue growth | 2.8% | 1.8% |
| Revenue growth a year, last 5 years | 2.5% | 12.6% |
| Gross margin | 39.3% | 49.7% |
| Operating margin | 7.3% | 13.2% |
| Net margin | 6.9% | 13.6% |
| Free cash flow | $12M | $300M |
| Free cash flow margin | 1.5% | 29.8% |
| Return on capital | 6.8% | 8.8% |
| Net debt to EBITDA | −2.7x | −3.3x |
| Dividends and buybacks | $26M | $75M |
| Change in diluted share count | −0.2% | −0.8% |
| Last close | $101.11 | $203.53 |
| P/E at the last close | 69.3× | 76.5× |
| Insider trades, last 12 months | sold $22.1 million | sold $302,300 |
| Piotroski F-score | 5 of 9 | 4 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
FormFactorOnto Innovation
Operating margin
Percent of revenue
FormFactorOnto Innovation
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
FormFactorOnto Innovation
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the FormFactor and Onto Innovation pages.