Onto Innovation (ONTO) vs Zebra Technologies (ZBRA)
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 Zebra Technologies (ZBRA) over the past year, gaining 110.4% versus a gain of 24.4%. Over five years, ONTO leads with a +305.4% price change compared with -25.9% for ZBRA. Zebra Technologies is the larger company by market cap ($18.08 billion vs $14.36 billion), about 1.3 times the size.
On valuation, Zebra Technologies trades at a lower forward P/E (17.2x vs 25.0x for Onto Innovation). Onto Innovation converts more of its revenue into profit, with a net margin of 13.6% versus 7.8%.
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 | ZBRA |
|---|---|---|
| Share price | $292.67 | $382.14 |
| Market cap | $14.36B | $18.08B |
| 1-day change | -3.85% | -1.01% |
| YTD return | +85.40% | +57.38% |
| 1-year return | +110.37% | +24.36% |
| 5-year return | +305.36% | -25.92% |
| P/E ratio (TTM) | 110.03 | 35.38 |
| Forward P/E | 25.02 | 17.17 |
| EPS (TTM) | $2.66 | $10.80 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $1.01B | $5.40B |
| Revenue growth (YoY) | +1.82% | +8.33% |
| Net income (latest FY) | $136.76M | $419.00M |
| Gross margin | 49.72% | 48.05% |
| Operating margin | 13.22% | 12.97% |
| Net margin | 13.60% | 7.77% |
| 52-week high | $386.46 | $390.80 |
| 52-week low | $118.97 | $199.05 |
| Distance from 52-week high | -24.27% | -2.22% |
| Analyst consensus | strong_buy | buy |
| Avg. price target upside | +32.40% | +8.30% |
| Average volume | 991.18K | 664.04K |
| Shares outstanding | 49.07M | 47.31M |
| Employees | 1,867 | 10,700 |
| Sector | Industrials | Industrials |
| 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 ZBRA by 86.0 percentage points over the past year.
- Onto Innovation trades at a higher earnings multiple (110.0x vs 35.4x trailing P/E).
- Onto Innovation is more profitable, keeping 13.6 cents of every revenue dollar as net income versus 7.8 cents for Zebra Technologies.
- Zebra Technologies grew revenue faster in its latest fiscal year (+8.33% vs +1.82%).
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 Zebra Technologies
ZBRA stock →Zebra Technologies Corporation, together with its subsidiaries, operates in the automatic identification and data capture solutions industry worldwide. It operates in two segments, Connected Frontline, and Asset Visibility and Automation.
Industrials · Industrial Machinery/Components · 10,700 employees
ONTO vs ZBRA FAQ
Which is bigger, Onto Innovation or Zebra Technologies?
Zebra Technologies (ZBRA) is larger, with a market capitalization of $18.08B compared with $14.36B for Onto Innovation (ONTO).
Which stock has performed better over the past year, ONTO or ZBRA?
ONTO returned +110.37% over the past 12 months, compared with +24.36% for ZBRA (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, ONTO or ZBRA?
ZBRA has the lower trailing P/E at 35.4, 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.
Are Onto Innovation and Zebra Technologies in the same industry?
Yes. Both are classified in the Industrial Machinery/Components industry within the Industrials sector.