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Side-by-side financial comparison of ONTO INNOVATION INC. (ONTO) and PEGASYSTEMS INC (PEGA). Click either name above to swap in a different company.
PEGASYSTEMS INC is the larger business by last-quarter revenue ($430.0M vs $218.2M, roughly 2.0× ONTO INNOVATION INC.). ONTO INNOVATION INC. runs the higher net margin — 12.9% vs 7.6%, a 5.3% gap on every dollar of revenue. On growth, PEGASYSTEMS INC posted the faster year-over-year revenue change (-9.6% vs -13.5%). PEGASYSTEMS INC produced more free cash flow last quarter ($206.5M vs $82.0M). Over the past eight quarters, PEGASYSTEMS INC's revenue compounded faster (10.7% CAGR vs 2.6%).
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.
Pegasystems Inc. (Pega) is a global software company based in Waltham, Massachusetts, in the United States, and founded in 1983. The company has been publicly traded since 1996 as PEGA (NASDAQ). Pega is a low-code platform for workflow automation and generative AI-powered decision-making for businesses.
ONTO vs PEGA — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $218.2M | $430.0M |
| Net Profit | $28.2M | $32.8M |
| Gross Margin | 50.7% | 75.2% |
| Operating Margin | 10.9% | 8.6% |
| Net Margin | 12.9% | 7.6% |
| Revenue YoY | -13.5% | -9.6% |
| Net Profit YoY | -46.8% | — |
| EPS (diluted) | $0.57 | $0.18 |
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.
| Q1 26 | — | $430.0M | ||
| Q4 25 | — | $504.3M | ||
| Q3 25 | $218.2M | $381.4M | ||
| Q2 25 | $253.6M | $384.5M | ||
| Q1 25 | $266.6M | $475.6M | ||
| Q4 24 | $263.9M | $490.8M | ||
| Q3 24 | $252.2M | $325.1M | ||
| Q2 24 | $242.3M | $351.2M |
| Q1 26 | — | $32.8M | ||
| Q4 25 | — | $234.6M | ||
| Q3 25 | $28.2M | $43.4M | ||
| Q2 25 | $33.9M | $30.1M | ||
| Q1 25 | $64.1M | $85.4M | ||
| Q4 24 | $48.8M | $119.1M | ||
| Q3 24 | $53.1M | $-14.4M | ||
| Q2 24 | $52.9M | $6.6M |
| Q1 26 | — | 75.2% | ||
| Q4 25 | — | 79.5% | ||
| Q3 25 | 50.7% | 72.2% | ||
| Q2 25 | 48.2% | 71.5% | ||
| Q1 25 | 53.7% | 78.5% | ||
| Q4 24 | 50.2% | 79.1% | ||
| Q3 24 | 54.1% | 70.2% | ||
| Q2 24 | 52.9% | 72.4% |
| Q1 26 | — | 8.6% | ||
| Q4 25 | — | 20.7% | ||
| Q3 25 | 10.9% | 3.8% | ||
| Q2 25 | 12.7% | 4.5% | ||
| Q1 25 | 23.7% | 26.7% | ||
| Q4 24 | 16.1% | 29.1% | ||
| Q3 24 | 21.0% | -3.6% | ||
| Q2 24 | 20.2% | 3.7% |
| Q1 26 | — | 7.6% | ||
| Q4 25 | — | 46.5% | ||
| Q3 25 | 12.9% | 11.4% | ||
| Q2 25 | 13.4% | 7.8% | ||
| Q1 25 | 24.0% | 18.0% | ||
| Q4 24 | 18.5% | 24.3% | ||
| Q3 24 | 21.0% | -4.4% | ||
| Q2 24 | 21.9% | 1.9% |
| Q1 26 | — | $0.18 | ||
| Q4 25 | — | $0.81 | ||
| Q3 25 | $0.57 | $0.24 | ||
| Q2 25 | $0.69 | $0.17 | ||
| Q1 25 | $1.30 | $0.91 | ||
| Q4 24 | $0.98 | $1.35 | ||
| Q3 24 | $1.07 | $-0.17 | ||
| Q2 24 | $1.07 | $0.07 |
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 | $270.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.0B | $705.9M |
| Total Assets | $2.2B | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $270.0M | ||
| Q4 25 | — | $425.8M | ||
| Q3 25 | $603.1M | $351.4M | ||
| Q2 25 | $217.5M | $411.6M | ||
| Q1 25 | $203.7M | $371.7M | ||
| Q4 24 | $212.9M | $740.0M | ||
| Q3 24 | $188.7M | $703.0M | ||
| Q2 24 | $172.6M | $665.1M |
| Q1 26 | — | $705.9M | ||
| Q4 25 | — | $787.4M | ||
| Q3 25 | $2.0B | $596.8M | ||
| Q2 25 | $2.0B | $624.5M | ||
| Q1 25 | $1.9B | $611.3M | ||
| Q4 24 | $1.9B | $585.5M | ||
| Q3 24 | $1.9B | $473.0M | ||
| Q2 24 | $1.8B | $435.4M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | $2.2B | $1.3B | ||
| Q2 25 | $2.1B | $1.3B | ||
| Q1 25 | $2.1B | $1.3B | ||
| Q4 24 | $2.1B | $1.8B | ||
| Q3 24 | $2.1B | $1.6B | ||
| Q2 24 | $2.0B | $1.5B |
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 | — |
| Free Cash FlowOCF − Capex | $82.0M | $206.5M |
| FCF MarginFCF / Revenue | 37.6% | 48.0% |
| Capex IntensityCapex / Revenue | 0.6% | — |
| Cash ConversionOCF / Net Profit | 2.95× | — |
| TTM Free Cash FlowTrailing 4 quarters | $261.3M | $494.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $158.4M | ||
| Q3 25 | $83.4M | $56.3M | ||
| Q2 25 | $57.9M | $86.3M | ||
| Q1 25 | $92.0M | $204.2M | ||
| Q4 24 | $56.0M | $95.2M | ||
| Q3 24 | $67.2M | $30.5M | ||
| Q2 24 | $65.3M | $40.1M |
| Q1 26 | — | $206.5M | ||
| Q4 25 | — | $152.4M | ||
| Q3 25 | $82.0M | $51.8M | ||
| Q2 25 | $44.2M | $84.1M | ||
| Q1 25 | $83.7M | $202.3M | ||
| Q4 24 | $51.4M | $92.4M | ||
| Q3 24 | $59.2M | $27.4M | ||
| Q2 24 | $53.0M | $38.8M |
| Q1 26 | — | 48.0% | ||
| Q4 25 | — | 30.2% | ||
| Q3 25 | 37.6% | 13.6% | ||
| Q2 25 | 17.4% | 21.9% | ||
| Q1 25 | 31.4% | 42.5% | ||
| Q4 24 | 19.5% | 18.8% | ||
| Q3 24 | 23.5% | 8.4% | ||
| Q2 24 | 21.9% | 11.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.2% | ||
| Q3 25 | 0.6% | 1.2% | ||
| Q2 25 | 5.4% | 0.6% | ||
| Q1 25 | 3.1% | 0.4% | ||
| Q4 24 | 1.8% | 0.6% | ||
| Q3 24 | 3.2% | 0.9% | ||
| Q2 24 | 5.1% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.68× | ||
| Q3 25 | 2.95× | 1.30× | ||
| Q2 25 | 1.71× | 2.87× | ||
| Q1 25 | 1.44× | 2.39× | ||
| Q4 24 | 1.15× | 0.80× | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 1.23× | 6.06× |
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% |
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
