Onto InnovationONTO +4.12%85 Cyclically Adjusted PS Ratio is 17.00 as of Jul. 08, 2026, which is 175% above its 10-year median of 6.19. GuruFocus rates ONTO with a GF Score™ of 85/100 and a GF Value™ of $191.80 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 733 Semiconductors companies, Onto Innovation ranks worse than 84.04% on this metric.
The historical rank and industry rank for Onto Innovation's Cyclically Adjusted PS Ratio or its related term are showing as below:
ONTO'
s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 2.36 Med: 6.19 Max: 19.47
Current: 16.34
During the past years, Onto Innovation's highest Cyclically Adjusted PS Ratio was 19.47. The lowest was 2.36. And the median was 6.19.
ONTO's Cyclically Adjusted PS Ratio is ranked worse than 84.04% of 733
companies
in the Semiconductors industry
Industry Median: 3.4
vs ONTO: 16.34
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.
Onto Innovation's adjusted revenue per share data for the three months ended in Mar. 2026 was $5.839. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is $17.14 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Onto Innovation (NYSE:ONTO) Cyclically Adjusted PS Ratio Explanation
Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.
Onto Innovation Cyclically Adjusted PS Ratio Related Terms
Onto Innovation Cyclically Adjusted PS Ratio Historical Data
* Premium members only.
The historical data trend for Onto Innovation's Cyclically Adjusted PS Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Onto Innovation Cyclically Adjusted PS Ratio Chart
ONTO vs NVMI, AMKR, FORM: Cyclically Adjusted PS Ratio Comparison
For the Semiconductor Equipment & Materials subindustry, Onto Innovation's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Onto Innovation Cyclically Adjusted PS Ratio vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Onto Innovation's Cyclically Adjusted PS Ratio distribution charts can be found below:
* The bar in red indicates where Onto Innovation's Cyclically Adjusted PS Ratio falls into.
Onto Innovation Cyclically Adjusted PS Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.
Onto Innovation's Cyclically Adjusted PS Ratio for today is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PS Ratio of 17.00 mean?
Onto Innovation (ONTO) has a Cyclically Adjusted PS Ratio of 17.00 as of Jul. 08, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Onto Innovation and its competitors. This is 175% above median its historical median of 6.19. Over the past decade, Onto Innovation's Cyclically Adjusted PS Ratio has ranged from 2.36 to 19.47. According to the industry distribution chart, Onto Innovation ranks #616 out of 733 companies in the Semiconductors industry, placing it in the top 84%.
Is Onto Innovation's Cyclically Adjusted PS Ratio too high?
Onto Innovation's current Cyclically Adjusted PS Ratio of 17.00 is 175% above median its 10-year median of 6.19. Over the past 10 years, this metric has ranged from a low of 2.36 to a high of 19.47. The Semiconductors industry median Cyclically Adjusted PS Ratio is 3.40. Onto Innovation's value of 17.00 is 400% above this industry median. Based on the distribution chart, Onto Innovation ranks #616 out of 733 companies in the Semiconductors industry, which is in the bottom quartile relative to peers. Overall, Onto Innovation has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Onto Innovation's Cyclically Adjusted PS Ratio compare to NVMI and AMKR?
According to the Semiconductors industry distribution chart, Onto Innovation ranks #616 out of 733 companies for Cyclically Adjusted PS Ratio. This places Onto Innovation in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 3.40. Onto Innovation's value of 17.00 is 400% above this benchmark. Historically, Onto Innovation's own Cyclically Adjusted PS Ratio has ranged from 2.36 to 19.47 over the past decade. While the company's 10-year median is 6.19 vs. the industry median of 3.40, Onto Innovation has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for a Semiconductors company?
The median Cyclically Adjusted PS Ratio among Semiconductors companies is 3.40, based on 733 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Onto Innovation's current Cyclically Adjusted PS Ratio of 17.00 is 400% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Onto Innovation and its competitors. For the Semiconductors industry, the median Cyclically Adjusted PS Ratio is 3.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Onto Innovation's current Cyclically Adjusted PS Ratio is 17.00, which is 175% above median its own 10-year median of 6.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Onto Innovation stock overvalued right now?
Based on GuruFocus' analysis, Onto Innovation (ONTO) is currently considered Significantly Overvalued. The stock's GF Value™ is $191.80, compared to a current price of $291.45 — trading 52% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 17.00, which is 175% above median its 10-year median of 6.19 and 400% above the Semiconductors industry median of 3.40. Onto Innovation's overall GF Score™ is 85/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For Onto Innovation (ONTO), the current Cyclically Adjusted PS Ratio is 17.00 as of Jul. 08, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Onto Innovation (ONTO) Overvalued in 2026?
Based on GuruFocus' analysis, Onto Innovation stock appears to be overvalued.
The current stock price of $291.45 is trading 52% above its estimated GF Value™ of $191.80.
GuruFocus considers Onto Innovation to be Significantly Overvalued.
Key valuation signals for ONTO:
Cyclically Adjusted PS Ratio: 17.00 (175% above median its 10-year median of 6.19)
GF Value™: $191.80 vs. price of $291.45 (52% above fair value)
Industry Position: 400% above the Semiconductors median (#616 of 733)
No single metric tells the full story. See the ONTO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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. The company mainly operates in the United States, Southeast Asia, China, Japan, and Europe, with Taiwan and South Korea the sources of total revenue.
85GF Score
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