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Side-by-side financial comparison of ONTO INNOVATION INC. (ONTO) and XPLR Infrastructure, LP (XIFR). Click either name above to swap in a different company.
XPLR Infrastructure, LP is the larger business by last-quarter revenue ($249.0M vs $218.2M, roughly 1.1× ONTO INNOVATION INC.). ONTO INNOVATION INC. runs the higher net margin — 12.9% vs 11.2%, a 1.7% gap on every dollar of revenue. On growth, ONTO INNOVATION INC. posted the faster year-over-year revenue change (-13.5% vs -15.3%). ONTO INNOVATION INC. produced more free cash flow last quarter ($82.0M vs $-88.0M). Over the past eight quarters, ONTO INNOVATION INC.'s revenue compounded faster (2.6% CAGR vs -1.6%).
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.
XPLR Infrastructure is a publicly traded subsidiary of NextEra Energy, is a Juno Beach, Florida-based renewable energy company.
ONTO vs XIFR — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $218.2M | $249.0M |
| Net Profit | $28.2M | $28.0M |
| Gross Margin | 50.7% | — |
| Operating Margin | 10.9% | -19.3% |
| Net Margin | 12.9% | 11.2% |
| Revenue YoY | -13.5% | -15.3% |
| Net Profit YoY | -46.8% | 124.3% |
| EPS (diluted) | $0.57 | — |
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 | — | $249.0M | ||
| Q3 25 | $218.2M | $315.0M | ||
| Q2 25 | $253.6M | $342.0M | ||
| Q1 25 | $266.6M | $282.0M | ||
| Q4 24 | $263.9M | $294.0M | ||
| Q3 24 | $252.2M | $319.0M | ||
| Q2 24 | $242.3M | $360.0M | ||
| Q1 24 | $228.8M | $257.0M |
| Q4 25 | — | $28.0M | ||
| Q3 25 | $28.2M | $-37.0M | ||
| Q2 25 | $33.9M | $79.0M | ||
| Q1 25 | $64.1M | $-98.0M | ||
| Q4 24 | $48.8M | $-115.0M | ||
| Q3 24 | $53.1M | $-40.0M | ||
| Q2 24 | $52.9M | $62.0M | ||
| Q1 24 | $46.9M | $70.0M |
| 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 | — | -19.3% | ||
| Q3 25 | 10.9% | 1.6% | ||
| Q2 25 | 12.7% | 26.3% | ||
| Q1 25 | 23.7% | -82.6% | ||
| Q4 24 | 16.1% | -188.1% | ||
| Q3 24 | 21.0% | 15.4% | ||
| Q2 24 | 20.2% | 18.3% | ||
| Q1 24 | 18.7% | -8.2% |
| Q4 25 | — | 11.2% | ||
| Q3 25 | 12.9% | -11.7% | ||
| Q2 25 | 13.4% | 23.1% | ||
| Q1 25 | 24.0% | -34.8% | ||
| Q4 24 | 18.5% | -39.1% | ||
| Q3 24 | 21.0% | -12.5% | ||
| Q2 24 | 21.9% | 17.2% | ||
| Q1 24 | 20.5% | 27.2% |
| Q4 25 | — | — | ||
| Q3 25 | $0.57 | $-0.40 | ||
| Q2 25 | $0.69 | $0.84 | ||
| Q1 25 | $1.30 | $-1.05 | ||
| Q4 24 | $0.98 | — | ||
| Q3 24 | $1.07 | $-0.43 | ||
| Q2 24 | $1.07 | $0.66 | ||
| Q1 24 | $0.94 | $0.75 |
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 | $960.0M |
| Total DebtLower is stronger | — | $6.2B |
| Stockholders' EquityBook value | $2.0B | $10.9B |
| Total Assets | $2.2B | $19.6B |
| Debt / EquityLower = less leverage | — | 0.57× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $960.0M | ||
| Q3 25 | $603.1M | $711.0M | ||
| Q2 25 | $217.5M | $880.0M | ||
| Q1 25 | $203.7M | $1.5B | ||
| Q4 24 | $212.9M | $283.0M | ||
| Q3 24 | $188.7M | $290.0M | ||
| Q2 24 | $172.6M | $281.0M | ||
| Q1 24 | $190.9M | $245.0M |
| Q4 25 | — | $6.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $5.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $10.9B | ||
| Q3 25 | $2.0B | $11.0B | ||
| Q2 25 | $2.0B | $11.3B | ||
| Q1 25 | $1.9B | $12.6B | ||
| Q4 24 | $1.9B | $12.9B | ||
| Q3 24 | $1.9B | $13.6B | ||
| Q2 24 | $1.8B | $13.9B | ||
| Q1 24 | $1.8B | $14.0B |
| Q4 25 | — | $19.6B | ||
| Q3 25 | $2.2B | $19.1B | ||
| Q2 25 | $2.1B | $20.5B | ||
| Q1 25 | $2.1B | $21.4B | ||
| Q4 24 | $2.1B | $20.3B | ||
| Q3 24 | $2.1B | $20.9B | ||
| Q2 24 | $2.0B | $21.7B | ||
| Q1 24 | $2.0B | $22.3B |
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.41× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $186.0M |
| Free Cash FlowOCF − Capex | $82.0M | $-88.0M |
| FCF MarginFCF / Revenue | 37.6% | -35.3% |
| Capex IntensityCapex / Revenue | 0.6% | 110.0% |
| Cash ConversionOCF / Net Profit | 2.95× | 6.64× |
| TTM Free Cash FlowTrailing 4 quarters | $261.3M | $-219.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $186.0M | ||
| Q3 25 | $83.4M | $231.0M | ||
| Q2 25 | $57.9M | $232.0M | ||
| Q1 25 | $92.0M | $90.0M | ||
| Q4 24 | $56.0M | $283.0M | ||
| Q3 24 | $67.2M | $208.0M | ||
| Q2 24 | $65.3M | $231.0M | ||
| Q1 24 | $57.1M | $78.0M |
| Q4 25 | — | $-88.0M | ||
| Q3 25 | $82.0M | $-283.0M | ||
| Q2 25 | $44.2M | $151.0M | ||
| Q1 25 | $83.7M | $1.0M | ||
| Q4 24 | $51.4M | $231.0M | ||
| Q3 24 | $59.2M | $152.0M | ||
| Q2 24 | $53.0M | $162.0M | ||
| Q1 24 | $50.2M | $14.0M |
| Q4 25 | — | -35.3% | ||
| Q3 25 | 37.6% | -89.8% | ||
| Q2 25 | 17.4% | 44.2% | ||
| Q1 25 | 31.4% | 0.4% | ||
| Q4 24 | 19.5% | 78.6% | ||
| Q3 24 | 23.5% | 47.6% | ||
| Q2 24 | 21.9% | 45.0% | ||
| Q1 24 | 21.9% | 5.4% |
| Q4 25 | — | 110.0% | ||
| Q3 25 | 0.6% | 163.2% | ||
| Q2 25 | 5.4% | 23.7% | ||
| Q1 25 | 3.1% | 31.6% | ||
| Q4 24 | 1.8% | 17.7% | ||
| Q3 24 | 3.2% | 17.6% | ||
| Q2 24 | 5.1% | 19.2% | ||
| Q1 24 | 3.0% | 24.9% |
| Q4 25 | — | 6.64× | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 1.71× | 2.94× | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.15× | — | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 1.23× | 3.73× | ||
| Q1 24 | 1.22× | 1.11× |
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% |
XIFR
| Renewable Energy Sales | $238.0M | 96% |
| Related Party | $8.0M | 3% |
