Comprehensive Stock Comparison
Compare Onto Innovation Inc. (ONTO) vs NVIDIA Corporation (NVDA) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | NVDA | 65.5% revenue growth vs ONTO's 21.0% |
| Value | NVDA | Lower P/E (21.9x vs 43.4x), PEG 0.23 vs 0.34 |
| Quality / Margins | NVDA | 55.6% net margin vs ONTO's 17.5% |
| Stability / Safety | NVDA | Beta 1.73 vs ONTO's 2.24 |
| Dividends | NVDA | 0.0% yield; 2-year raise streak; ONTO pays no meaningful dividend |
| Momentum (1Y) | ONTO | +48.2% vs NVDA's +41.9% |
| Efficiency (ROA) | NVDA | 58.1% ROA vs ONTO's 8.0%, ROIC 81.8% vs 8.6% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Onto Innovation is a semiconductor equipment company that makes process control tools for defect inspection, optical metrology, and lithography systems used in chip manufacturing. It generates revenue primarily from selling these capital equipment systems — along with software licenses and spare parts — to semiconductor manufacturers and advanced packaging facilities. The company's competitive advantage lies in its integrated portfolio of inspection, metrology, and lithography technologies that help chipmakers improve yields and process control across multiple manufacturing steps.
NVIDIA designs and sells graphics processing units (GPUs) and accelerated computing platforms that power artificial intelligence, gaming, and professional visualization applications. The company generates revenue primarily through its Data Center segment — which includes AI chips and systems — accounting for over 70% of sales, supplemented by its Gaming GPU business and professional visualization offerings. NVIDIA's competitive moat stems from its CUDA software ecosystem — which locks developers into its hardware architecture — and its years of architectural leadership in parallel processing for AI workloads.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
NVDA leads in 3 of 6 categories — strongest in Financial Metrics and Valuation Metrics. 2 categories are tied.
Financial Metrics (TTM)
NVDA is the larger business by revenue, generating $215.9B annually — 215.4x ONTO's $1.0B. NVDA is the more profitable business, keeping 55.6% of every revenue dollar as net income compared to ONTO's 17.5%. On growth, NVDA holds the edge at +73.2% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ONTOOnto Innovation I… | NVDANVIDIA Corporation |
|---|---|---|
| RevenueTrailing 12 months | $1.0B | $215.9B |
| EBITDAEarnings before interest/tax | $215M | $133.2B |
| Net IncomeAfter-tax profit | $175M | $120.1B |
| Free Cash FlowCash after capex | $261M | $96.7B |
| Gross MarginGross profit ÷ Revenue | +50.7% | +71.1% |
| Operating MarginEBIT ÷ Revenue | +16.1% | +60.4% |
| Net MarginNet income ÷ Revenue | +17.5% | +55.6% |
| FCF MarginFCF ÷ Revenue | +26.1% | +44.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | -13.5% | +73.2% |
| EPS Growth (YoY)Latest quarter vs prior year | -46.7% | +97.8% |
Valuation Metrics
At 36.2x trailing earnings, NVDA trades at a 32% valuation discount to ONTO's 53.2x P/E. Adjusting for growth (PEG ratio), NVDA offers better value at 0.38x vs ONTO's 0.41x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | ONTOOnto Innovation I… | NVDANVIDIA Corporation |
|---|---|---|
| Market CapShares × price | $10.6B | $4.31T |
| Enterprise ValueMkt cap + debt − cash | $10.4B | $4.31T |
| Trailing P/EPrice ÷ TTM EPS | 53.17x | 36.16x |
| Forward P/EPrice ÷ next-FY EPS est. | 43.45x | 21.88x |
| PEG RatioP/E ÷ EPS growth rate | 0.41x | 0.38x |
| EV / EBITDAEnterprise value multiple | 41.83x | 32.33x |
| Price / SalesMarket cap ÷ Revenue | 10.77x | 19.94x |
| Price / BookPrice ÷ Book value/share | 5.57x | 27.52x |
| Price / FCFMarket cap ÷ FCF | 49.73x | 44.54x |
Profitability & Efficiency
NVDA delivers a 76.3% return on equity — every $100 of shareholder capital generates $76 in annual profit, vs $9 for ONTO. ONTO carries lower financial leverage with a 0.01x debt-to-equity ratio, signaling a more conservative balance sheet compared to NVDA's 0.07x. On the Piotroski fundamental quality scale (0–9), ONTO scores 7/9 vs NVDA's 4/9, reflecting strong financial health.
| Metric | ONTOOnto Innovation I… | NVDANVIDIA Corporation |
|---|---|---|
| ROE (TTM)Return on equity | +8.7% | +76.3% |
| ROA (TTM)Return on assets | +8.0% | +58.1% |
| ROICReturn on invested capital | +8.6% | +81.8% |
| ROCEReturn on capital employed | +10.1% | +97.2% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 4 |
| Debt / EquityFinancial leverage | 0.01x | 0.07x |
| Net DebtTotal debt minus cash | -$198M | $807M |
| Cash & Equiv.Liquid assets | $213M | $10.6B |
| Total DebtShort + long-term debt | $15M | $11.4B |
| Interest CoverageEBIT ÷ Interest expense | — | 545.03x |
Total Returns (with DRIP)
A $10,000 investment in NVDA five years ago would be worth $128,116 today (with dividends reinvested), compared to $32,666 for ONTO. Over the past 12 months, ONTO leads with a +48.2% total return vs NVDA's +41.9%. The 3-year compound annual growth rate (CAGR) favors NVDA at 96.9% vs ONTO's 37.8% — a key indicator of consistent wealth creation.
| Metric | ONTOOnto Innovation I… | NVDANVIDIA Corporation |
|---|---|---|
| YTD ReturnYear-to-date | +30.2% | -6.2% |
| 1-Year ReturnPast 12 months | +48.2% | +41.9% |
| 3-Year ReturnCumulative with dividends | +161.8% | +663.5% |
| 5-Year ReturnCumulative with dividends | +226.7% | +1181.2% |
| 10-Year ReturnCumulative with dividends | +1455.4% | +22525.7% |
| CAGR (3Y)Annualised 3-year return | +37.8% | +96.9% |
Risk & Volatility
NVDA is the less volatile stock with a 1.73 beta — it tends to amplify market swings less than ONTO's 2.24 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. ONTO currently trades 92.9% from its 52-week high vs NVDA's 83.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ONTOOnto Innovation I… | NVDANVIDIA Corporation |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 2.24x | 1.73x |
| 52-Week HighHighest price in past year | $232.49 | $212.19 |
| 52-Week LowLowest price in past year | $85.88 | $86.62 |
| % of 52W HighCurrent price vs 52-week peak | +92.9% | +83.5% |
| RSI (14)Momentum oscillator 0–100 | 55.6 | 47.4 |
| Avg Volume (50D)Average daily shares traded | 713K | 136.2M |
Analyst Outlook
Wall Street rates ONTO as "Buy" and NVDA as "Buy". Consensus price targets imply 52.9% upside for NVDA (target: $271) vs 21.2% for ONTO (target: $262).
| Metric | ONTOOnto Innovation I… | NVDANVIDIA Corporation |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $261.67 | $271.00 |
| # AnalystsCovering analysts | 11 | 79 |
| Dividend YieldAnnual dividend ÷ price | — | +0.0% |
| Dividend StreakConsecutive years of raises | — | 2 |
| Dividend / ShareAnnual DPS | — | $0.04 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.2% | +0.9% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Onto Innovation Inc. (ONTO) | 100 | 637.98 | +538.0% |
| NVIDIA Corporation (NVDA) | 100 | 2,686.11 | +2586.1% |
NVIDIA Corporation (NVDA) returned +1.2K% over 5 years vs Onto Innovation Inc. (ONTO)'s +227%. A $10,000 investment in NVDA 5 years ago would be worth $128,116 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| Onto Innovation Inc. (ONTO) | $255M | $987M | +287.0% |
| NVIDIA Corporation (NVDA) | $6.9B | $215.9B | +3025.0% |
NVIDIA Corporation's revenue grew from $6.9B (2017) to $215.9B (2026) — a 46.6% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| Onto Innovation Inc. (ONTO) | 12.9% | 20.4% | +58.3% |
| NVIDIA Corporation (NVDA) | 24.1% | 55.6% | +130.6% |
NVIDIA Corporation's net margin went from 24% (2017) to 56% (2026).
Chart 4P/E Ratio History — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| Onto Innovation Inc. (ONTO) | 24.4 | 41.1 | +68.4% |
| NVIDIA Corporation (NVDA) | 75.6 | 36.2 | -52.1% |
Onto Innovation Inc. has traded in a 15x–76x P/E range over 7 years; current trailing P/E is ~53x. NVIDIA Corporation has traded in a 28x–291x P/E range over 10 years; current trailing P/E is ~36x.
Chart 5EPS Growth — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| Onto Innovation Inc. (ONTO) | 1.02 | 4.06 | +298.0% |
| NVIDIA Corporation (NVDA) | 0.06 | 4.9 | +7556.3% |
NVIDIA Corporation's EPS grew from $0.06 (2017) to $4.90 (2026) — a 62% CAGR.
Chart 6Free Cash Flow — 5 Years
Onto Innovation Inc. generated $214M FCF in 2024 (+31% vs 2021). NVIDIA Corporation generated $97B FCF in 2026 (+1960% vs 2021).
ONTO vs NVDA: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is ONTO or NVDA a better buy right now?
NVIDIA Corporation (NVDA) offers the better valuation at 36.2x trailing P/E (21.9x forward), making it the more compelling value choice. Analysts rate Onto Innovation Inc. (ONTO) a "Buy" — based on 11 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — ONTO or NVDA?
On trailing P/E, NVIDIA Corporation (NVDA) is the cheapest at 36.2x versus Onto Innovation Inc. at 53.2x. On forward P/E, NVIDIA Corporation is actually cheaper at 21.9x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: NVIDIA Corporation wins at 0.23x versus Onto Innovation Inc.'s 0.34x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — ONTO or NVDA?
Over the past 5 years, NVIDIA Corporation (NVDA) delivered a total return of +1181%, compared to +226.7% for Onto Innovation Inc. (ONTO). A $10,000 investment in NVDA five years ago would be worth approximately $128K today (assuming dividends reinvested). Over 10 years, the gap is even starker: NVDA returned +225.3% versus ONTO's +1455%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — ONTO or NVDA?
By beta (market sensitivity over 5 years), NVIDIA Corporation (NVDA) is the lower-risk stock at 1.73β versus Onto Innovation Inc.'s 2.24β — meaning ONTO is approximately 30% more volatile than NVDA relative to the S&P 500. On balance sheet safety, Onto Innovation Inc. (ONTO) carries a lower debt/equity ratio of 1% versus 7% for NVIDIA Corporation — giving it more financial flexibility in a downturn.
05Which has better profit margins — ONTO or NVDA?
NVIDIA Corporation (NVDA) is the more profitable company, earning 55.6% net margin versus 20.4% for Onto Innovation Inc. — meaning it keeps 55.6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NVDA leads at 60.4% versus 19.0% for ONTO. At the gross margin level — before operating expenses — NVDA leads at 71.1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is ONTO or NVDA more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, NVIDIA Corporation (NVDA) is the more undervalued stock at a PEG of 0.23x versus Onto Innovation Inc.'s 0.34x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, NVIDIA Corporation (NVDA) trades at 21.9x forward P/E versus 43.4x for Onto Innovation Inc. — 21.6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NVDA: 52.9% to $271.00.
07Which pays a better dividend — ONTO or NVDA?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is ONTO or NVDA better for a retirement portfolio?
For long-horizon retirement investors, Onto Innovation Inc. (ONTO) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (+1455% 10Y return). NVIDIA Corporation (NVDA) carries a higher beta of 1.73 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (ONTO: +1455%, NVDA: +225.3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between ONTO and NVDA?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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