Onto Innovation Inc (ONTO) is overvalued and Teradyne Inc (TER) is overvalued.
Both trade above our estimate of their intrinsic value. ONTO is the closer of the two: -36%, against -58% for TER.
Values as of the 22 Sept 2026 close.
A 8.8x revenue multiple, adjusted for growth and margin, values the shares at $209.23; the price of $283.81 is 36% above that value.
Leak Score 27/100 on 3 of 12 signals
A 8.8x revenue multiple, adjusted for growth and margin, values the shares at $251.80; the price of $398.69 is 58% above that value.
Leak Score 67/100 on 9 of 12 signals
| Metric | ONTO | TER |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $283.81 | $398.69 |
| Intrinsic value | $209.23 | $251.80 |
| Margin of safety | -36% | -58% |
| Leak Score | 27/100 (3/12) | 67/100 (9/12) |
| Market cap | $13.9B | $62.3B |
| Revenue growth, 5 years | 12.6% | 0.4% |
| Operating margin | 19.8% | 30.9% |
| Net margin | 11.8% | 25.8% |
| Return on equity | 6.8% | 36.7% |
| Debt to equity | 0.77 | 0.03 |
| P/E | 106.2x | 54.7x |
| Forward P/E | 24.1x | 34.0x |
| P/B | 7.2x | 18.1x |
| Dividend yield | — | 0.1% |