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Side-by-side financial comparison of ONTO INNOVATION INC. (ONTO) and Piedmont Realty Trust, Inc. (PDM). Click either name above to swap in a different company.
ONTO INNOVATION INC. is the larger business by last-quarter revenue ($218.2M vs $142.9M, roughly 1.5× Piedmont Realty Trust, Inc.). ONTO INNOVATION INC. runs the higher net margin — 12.9% vs -30.3%, a 43.2% gap on every dollar of revenue. On growth, Piedmont Realty Trust, Inc. posted the faster year-over-year revenue change (-0.3% vs -13.5%). Over the past eight quarters, ONTO INNOVATION INC.'s revenue compounded faster (2.6% CAGR vs -0.6%).
Onto Innovation Inc. is an American semiconductor company formed in 2019 from the merger of Rudolph Technologies, Inc. and Nanometrics Incorporated. It is a provider of process and process control equipment and software for microelectronic manufacturing industries.
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
ONTO vs PDM — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $218.2M | $142.9M |
| Net Profit | $28.2M | $-43.2M |
| Gross Margin | 50.7% | — |
| Operating Margin | 10.9% | — |
| Net Margin | 12.9% | -30.3% |
| Revenue YoY | -13.5% | -0.3% |
| Net Profit YoY | -46.8% | -44.3% |
| EPS (diluted) | $0.57 | $-0.34 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $142.9M | ||
| Q3 25 | $218.2M | $139.2M | ||
| Q2 25 | $253.6M | $140.3M | ||
| Q1 25 | $266.6M | $142.7M | ||
| Q4 24 | $263.9M | $143.2M | ||
| Q3 24 | $252.2M | $139.3M | ||
| Q2 24 | $242.3M | $143.3M | ||
| Q1 24 | $228.8M | $144.5M |
| Q4 25 | — | $-43.2M | ||
| Q3 25 | $28.2M | $-13.5M | ||
| Q2 25 | $33.9M | $-16.8M | ||
| Q1 25 | $64.1M | $-10.1M | ||
| Q4 24 | $48.8M | $-30.0M | ||
| Q3 24 | $53.1M | $-11.5M | ||
| Q2 24 | $52.9M | $-9.8M | ||
| Q1 24 | $46.9M | $-27.8M |
| Q4 25 | — | — | ||
| Q3 25 | 50.7% | — | ||
| Q2 25 | 48.2% | — | ||
| Q1 25 | 53.7% | — | ||
| Q4 24 | 50.2% | — | ||
| Q3 24 | 54.1% | — | ||
| Q2 24 | 52.9% | — | ||
| Q1 24 | 51.7% | — |
| Q4 25 | — | — | ||
| Q3 25 | 10.9% | — | ||
| Q2 25 | 12.7% | — | ||
| Q1 25 | 23.7% | — | ||
| Q4 24 | 16.1% | — | ||
| Q3 24 | 21.0% | — | ||
| Q2 24 | 20.2% | — | ||
| Q1 24 | 18.7% | — |
| Q4 25 | — | -30.3% | ||
| Q3 25 | 12.9% | -9.7% | ||
| Q2 25 | 13.4% | -12.0% | ||
| Q1 25 | 24.0% | -7.1% | ||
| Q4 24 | 18.5% | -20.9% | ||
| Q3 24 | 21.0% | -8.3% | ||
| Q2 24 | 21.9% | -6.8% | ||
| Q1 24 | 20.5% | -19.2% |
| Q4 25 | — | $-0.34 | ||
| Q3 25 | $0.57 | $-0.11 | ||
| Q2 25 | $0.69 | $-0.14 | ||
| Q1 25 | $1.30 | $-0.08 | ||
| Q4 24 | $0.98 | $-0.25 | ||
| Q3 24 | $1.07 | $-0.09 | ||
| Q2 24 | $1.07 | $-0.08 | ||
| Q1 24 | $0.94 | $-0.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $603.1M | $731.0K |
| Total DebtLower is stronger | — | $2.2B |
| Stockholders' EquityBook value | $2.0B | $1.5B |
| Total Assets | $2.2B | $4.0B |
| Debt / EquityLower = less leverage | — | 1.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $731.0K | ||
| Q3 25 | $603.1M | $3.0M | ||
| Q2 25 | $217.5M | $3.3M | ||
| Q1 25 | $203.7M | $2.9M | ||
| Q4 24 | $212.9M | $109.6M | ||
| Q3 24 | $188.7M | $133.6M | ||
| Q2 24 | $172.6M | $138.5M | ||
| Q1 24 | $190.9M | $3.5M |
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | — | $2.1B |
| Q4 25 | — | $1.5B | ||
| Q3 25 | $2.0B | $1.5B | ||
| Q2 25 | $2.0B | $1.5B | ||
| Q1 25 | $1.9B | $1.6B | ||
| Q4 24 | $1.9B | $1.6B | ||
| Q3 24 | $1.9B | $1.6B | ||
| Q2 24 | $1.8B | $1.7B | ||
| Q1 24 | $1.8B | $1.7B |
| Q4 25 | — | $4.0B | ||
| Q3 25 | $2.2B | $4.0B | ||
| Q2 25 | $2.1B | $4.0B | ||
| Q1 25 | $2.1B | $4.0B | ||
| Q4 24 | $2.1B | $4.1B | ||
| Q3 24 | $2.1B | $4.1B | ||
| Q2 24 | $2.0B | $4.2B | ||
| Q1 24 | $2.0B | $4.0B |
| Q4 25 | — | 1.49× | ||
| Q3 25 | — | 1.43× | ||
| Q2 25 | — | 1.41× | ||
| Q1 25 | — | 1.40× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 1.34× | ||
| Q1 24 | — | 1.23× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $83.4M | $140.6M |
| Free Cash FlowOCF − Capex | $82.0M | — |
| FCF MarginFCF / Revenue | 37.6% | — |
| Capex IntensityCapex / Revenue | 0.6% | — |
| Cash ConversionOCF / Net Profit | 2.95× | — |
| TTM Free Cash FlowTrailing 4 quarters | $261.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $140.6M | ||
| Q3 25 | $83.4M | $35.8M | ||
| Q2 25 | $57.9M | $50.1M | ||
| Q1 25 | $92.0M | $3.7M | ||
| Q4 24 | $56.0M | $198.1M | ||
| Q3 24 | $67.2M | $42.9M | ||
| Q2 24 | $65.3M | $66.8M | ||
| Q1 24 | $57.1M | $23.4M |
| Q4 25 | — | — | ||
| Q3 25 | $82.0M | — | ||
| Q2 25 | $44.2M | — | ||
| Q1 25 | $83.7M | — | ||
| Q4 24 | $51.4M | — | ||
| Q3 24 | $59.2M | — | ||
| Q2 24 | $53.0M | — | ||
| Q1 24 | $50.2M | — |
| Q4 25 | — | — | ||
| Q3 25 | 37.6% | — | ||
| Q2 25 | 17.4% | — | ||
| Q1 25 | 31.4% | — | ||
| Q4 24 | 19.5% | — | ||
| Q3 24 | 23.5% | — | ||
| Q2 24 | 21.9% | — | ||
| Q1 24 | 21.9% | — |
| Q4 25 | — | — | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | 5.4% | — | ||
| Q1 25 | 3.1% | — | ||
| Q4 24 | 1.8% | — | ||
| Q3 24 | 3.2% | — | ||
| Q2 24 | 5.1% | — | ||
| Q1 24 | 3.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 1.71× | — | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.15× | — | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 1.23× | — | ||
| Q1 24 | 1.22× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ONTO
| Systems And Software Revenue | $173.8M | 80% |
| Parts Revenue | $23.9M | 11% |
| Service Revenue | $20.5M | 9% |
PDM
| Atlanta GA | $45.7M | 32% |
| Dallas TX | $24.1M | 17% |
| Orlando FL | $19.3M | 13% |
| New York NY | $14.7M | 10% |
| Northern Virginia Washington D.C. | $12.9M | 9% |
| Minneapolis MN | $11.4M | 8% |
| Boston MA | $9.8M | 7% |
| Real Estate Other | $7.8M | 5% |
