• Onto Innovation average quick ratio for 2023 was 6.12, a 31.9% increase from 2022.
• Onto Innovation average quick ratio for 2022 was 4.64, a 3.34% increase from 2021.
• Onto Innovation average quick ratio for 2021 was 4.49, a 7.04% increase from 2020.

Quick ratio can be defined as a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated by subtracting inventory from current assets and dividing by current liabilities.