Onto Innovation (ONTO) vs Watsco (WSO)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Onto Innovation (ONTO) has outperformed Watsco (WSO) over the past year, gaining 110.4% versus a loss of 28.8%. Over five years, ONTO leads with a +305.4% price change compared with -1.1% for WSO. Onto Innovation is the larger company by market cap ($14.36 billion vs $11.64 billion), about 1.2 times the size.
On valuation, Watsco trades at a lower forward P/E (21.2x vs 25.0x for Onto Innovation). Watsco pays a dividend yielding 4.36%, while Onto Innovation does not currently pay one. Onto Innovation converts more of its revenue into profit, with a net margin of 13.6% versus 6.9%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | ONTO | WSO |
|---|---|---|
| Share price | $292.67 | $282.23 |
| Market cap | $14.36B | $11.64B |
| 1-day change | -3.85% | -0.15% |
| YTD return | +85.40% | -16.24% |
| 1-year return | +110.37% | -28.81% |
| 5-year return | +305.36% | -1.07% |
| P/E ratio (TTM) | 110.03 | 24.18 |
| Forward P/E | 25.02 | 21.15 |
| EPS (TTM) | $2.66 | $11.67 |
| Dividend yield | 0.00% | 4.36% |
| Annual dividend | $0.00 | $12.30 |
| Revenue (latest FY) | $1.01B | $7.24B |
| Revenue growth (YoY) | +1.82% | -4.98% |
| Net income (latest FY) | $136.76M | $496.99M |
| Gross margin | 49.72% | 28.05% |
| Operating margin | 13.22% | 9.95% |
| Net margin | 13.60% | 6.87% |
| 52-week high | $386.46 | $459.00 |
| 52-week low | $118.97 | $279.04 |
| Distance from 52-week high | -24.27% | -38.51% |
| Analyst consensus | strong_buy | hold |
| Avg. price target upside | +32.40% | +33.19% |
| Average volume | 991.18K | 503.70K |
| Shares outstanding | 49.07M | 35.59M |
| Employees | 1,867 | 6,950 |
| Sector | Industrials | Consumer Discretionary |
| Industry | Industrial Machinery/Components | Industrial Machinery/Components |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- ONTO has outperformed WSO by 139.2 percentage points over the past year.
- Onto Innovation trades at a higher earnings multiple (110.0x vs 24.2x trailing P/E).
- Watsco offers a meaningfully higher dividend yield (4.36% vs 0.00%).
- Onto Innovation is more profitable, keeping 13.6 cents of every revenue dollar as net income versus 6.9 cents for Watsco.
- Onto Innovation grew revenue faster in its latest fiscal year (+1.82% vs -4.98%).
- The two companies sit in different sectors: Onto Innovation in Industrials and Watsco in Consumer Discretionary.
About Onto Innovation
ONTO stock →Onto Innovation Inc. engages in the design, development, manufacture, and support of process control tools that perform macro-defect inspection and metrology in the United States, Taiwan, South Korea, Japan, China, Southeast Asia, Asia, and Europe.
Industrials · Industrial Machinery/Components · 1,867 employees
About Watsco
WSO stock →Watsco, Inc., together with its subsidiaries, engages in the distribution of air conditioning, heating, and refrigeration equipment, and related parts and supplies in the United States, Canada, Latin America, and the Caribbean. It distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
Consumer Discretionary · Industrial Machinery/Components · 6,950 employees
ONTO vs WSO FAQ
Which is bigger, Onto Innovation or Watsco?
Onto Innovation (ONTO) is larger, with a market capitalization of $14.36B compared with $11.64B for Watsco (WSO).
Which stock has performed better over the past year, ONTO or WSO?
ONTO returned +110.37% over the past 12 months, compared with -28.81% for WSO (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, ONTO or WSO?
WSO has the lower trailing P/E at 24.2, versus 110.0 for ONTO. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Onto Innovation or Watsco?
Watsco pays a dividend yielding 4.36%, while Onto Innovation does not currently pay a regular dividend.
Are Onto Innovation and Watsco in the same industry?
Yes. Both are classified in the Industrial Machinery/Components industry within the Industrials sector.