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Side-by-side financial comparison of ONTO INNOVATION INC. (ONTO) and Palomar Holdings, Inc. (PLMR). Click either name above to swap in a different company.
Palomar Holdings, Inc. is the larger business by last-quarter revenue ($253.4M vs $218.2M, roughly 1.2× ONTO INNOVATION INC.). On growth, Palomar Holdings, Inc. posted the faster year-over-year revenue change (62.7% vs -13.5%). Palomar Holdings, Inc. produced more free cash flow last quarter ($409.0M vs $82.0M). Over the past eight quarters, Palomar Holdings, Inc.'s revenue compounded faster (46.2% 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.
Palomar Holdings, Inc. is a specialty insurance holding company that primarily provides property insurance products for catastrophe-exposed residential and commercial assets. It mainly operates across the United States, focusing on core segments including earthquake, flood, and windstorm coverage to meet high-risk property protection demands of customers.
ONTO vs PLMR — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $218.2M | $253.4M |
| Net Profit | $28.2M | — |
| Gross Margin | 50.7% | — |
| Operating Margin | 10.9% | 28.7% |
| Net Margin | 12.9% | — |
| Revenue YoY | -13.5% | 62.7% |
| Net Profit YoY | -46.8% | — |
| EPS (diluted) | $0.57 | $2.05 |
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 | — | $253.4M | ||
| Q3 25 | $218.2M | $244.7M | ||
| Q2 25 | $253.6M | $203.3M | ||
| Q1 25 | $266.6M | $174.6M | ||
| Q4 24 | $263.9M | $155.8M | ||
| Q3 24 | $252.2M | $148.5M | ||
| Q2 24 | $242.3M | $131.1M | ||
| Q1 24 | $228.8M | $118.5M |
| Q4 25 | — | — | ||
| Q3 25 | $28.2M | $51.5M | ||
| Q2 25 | $33.9M | $46.5M | ||
| Q1 25 | $64.1M | $42.9M | ||
| Q4 24 | $48.8M | — | ||
| Q3 24 | $53.1M | $30.5M | ||
| Q2 24 | $52.9M | $25.7M | ||
| Q1 24 | $46.9M | $26.4M |
| 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 | — | 28.7% | ||
| Q3 25 | 10.9% | 27.4% | ||
| Q2 25 | 12.7% | 29.5% | ||
| Q1 25 | 23.7% | 30.8% | ||
| Q4 24 | 16.1% | 28.9% | ||
| Q3 24 | 21.0% | 25.9% | ||
| Q2 24 | 20.2% | 25.5% | ||
| Q1 24 | 18.7% | 29.0% |
| Q4 25 | — | — | ||
| Q3 25 | 12.9% | 21.0% | ||
| Q2 25 | 13.4% | 22.9% | ||
| Q1 25 | 24.0% | 24.6% | ||
| Q4 24 | 18.5% | — | ||
| Q3 24 | 21.0% | 20.5% | ||
| Q2 24 | 21.9% | 19.6% | ||
| Q1 24 | 20.5% | 22.3% |
| Q4 25 | — | $2.05 | ||
| Q3 25 | $0.57 | $1.87 | ||
| Q2 25 | $0.69 | $1.68 | ||
| Q1 25 | $1.30 | $1.57 | ||
| Q4 24 | $0.98 | $1.29 | ||
| Q3 24 | $1.07 | $1.15 | ||
| Q2 24 | $1.07 | $1.00 | ||
| Q1 24 | $0.94 | $1.04 |
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 | $106.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.0B | $942.7M |
| Total Assets | $2.2B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $106.9M | ||
| Q3 25 | $603.1M | $111.7M | ||
| Q2 25 | $217.5M | $81.3M | ||
| Q1 25 | $203.7M | $119.3M | ||
| Q4 24 | $212.9M | $80.4M | ||
| Q3 24 | $188.7M | $86.5M | ||
| Q2 24 | $172.6M | $47.8M | ||
| Q1 24 | $190.9M | $61.4M |
| Q4 25 | — | $942.7M | ||
| Q3 25 | $2.0B | $878.1M | ||
| Q2 25 | $2.0B | $847.2M | ||
| Q1 25 | $1.9B | $790.4M | ||
| Q4 24 | $1.9B | $729.0M | ||
| Q3 24 | $1.9B | $703.3M | ||
| Q2 24 | $1.8B | $532.6M | ||
| Q1 24 | $1.8B | $501.7M |
| Q4 25 | — | $3.1B | ||
| Q3 25 | $2.2B | $2.9B | ||
| Q2 25 | $2.1B | $2.8B | ||
| Q1 25 | $2.1B | $2.4B | ||
| Q4 24 | $2.1B | $2.3B | ||
| Q3 24 | $2.1B | $2.3B | ||
| Q2 24 | $2.0B | $2.0B | ||
| Q1 24 | $2.0B | $1.9B |
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 | $409.1M |
| Free Cash FlowOCF − Capex | $82.0M | $409.0M |
| FCF MarginFCF / Revenue | 37.6% | 161.4% |
| Capex IntensityCapex / Revenue | 0.6% | 0.1% |
| Cash ConversionOCF / Net Profit | 2.95× | — |
| TTM Free Cash FlowTrailing 4 quarters | $261.3M | $700.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $409.1M | ||
| Q3 25 | $83.4M | $83.6M | ||
| Q2 25 | $57.9M | $120.9M | ||
| Q1 25 | $92.0M | $87.2M | ||
| Q4 24 | $56.0M | $261.2M | ||
| Q3 24 | $67.2M | $100.3M | ||
| Q2 24 | $65.3M | $55.1M | ||
| Q1 24 | $57.1M | $33.1M |
| Q4 25 | — | $409.0M | ||
| Q3 25 | $82.0M | $83.6M | ||
| Q2 25 | $44.2M | $120.8M | ||
| Q1 25 | $83.7M | $87.1M | ||
| Q4 24 | $51.4M | $260.9M | ||
| Q3 24 | $59.2M | $100.1M | ||
| Q2 24 | $53.0M | — | ||
| Q1 24 | $50.2M | — |
| Q4 25 | — | 161.4% | ||
| Q3 25 | 37.6% | 34.2% | ||
| Q2 25 | 17.4% | 59.4% | ||
| Q1 25 | 31.4% | 49.9% | ||
| Q4 24 | 19.5% | 167.5% | ||
| Q3 24 | 23.5% | 67.4% | ||
| Q2 24 | 21.9% | — | ||
| Q1 24 | 21.9% | — |
| Q4 25 | — | 0.1% | ||
| Q3 25 | 0.6% | 0.0% | ||
| Q2 25 | 5.4% | 0.0% | ||
| Q1 25 | 3.1% | 0.0% | ||
| Q4 24 | 1.8% | 0.2% | ||
| Q3 24 | 3.2% | 0.1% | ||
| Q2 24 | 5.1% | 0.0% | ||
| Q1 24 | 3.0% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | 2.95× | 1.63× | ||
| Q2 25 | 1.71× | 2.60× | ||
| Q1 25 | 1.44× | 2.03× | ||
| Q4 24 | 1.15× | — | ||
| Q3 24 | 1.27× | 3.29× | ||
| Q2 24 | 1.23× | 2.14× | ||
| Q1 24 | 1.22× | 1.26× |
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% |
PLMR
Segment breakdown not available.
