ONTO INNOVATION INC. Earnings Per Share Disclosure
Basic earnings per share is calculated using the weighted average number of shares of common stock outstanding during the period. Restricted stock units and stock options are included in the calculation of diluted earnings per share, except when their effect would be anti-dilutive. For the fiscal year ended January 3, 2026 the weighted average number of restricted stock units excluded from the computation of diluted earnings per share was 70 thousand. Anti-dilutive shares for the fiscal years ended December 28, 2024, and December 30, 2023, were immaterial.
The Company’s basic and diluted earnings per share amounts are as follows:
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Year Ended |
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January 3, |
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December 28, |
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December 30, |
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(in thousands, except for per share data) |
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Numerator: |
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Net income |
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$ |
136,759 |
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$ |
201,670 |
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$ |
121,159 |
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Denominator: |
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Basic earnings per share - weighted average shares |
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49,123 |
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49,343 |
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48,971 |
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Effect of potential dilutive securities: |
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Restricted stock units and employee stock purchase grants - dilutive shares |
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150 |
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317 |
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347 |
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Diluted earnings per share - weighted average shares |
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49,273 |
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49,660 |
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49,318 |
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Earnings per share: |
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Basic |
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$ |
2.78 |
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$ |
4.09 |
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$ |
2.47 |
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Diluted |
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$ |
2.78 |
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$ |
4.06 |
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$ |
2.46 |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Feb 24, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Feb 26, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2020 | Feb 19, 2021 | |
| 2019 | Feb 25, 2020 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.