PI vs. ONTO

Last updated Apr 1, 2026

Compare and contrast key facts about Impinj, Inc. (PI) and Onto Innovation Inc. (ONTO).

Performance

PI vs. ONTO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Impinj, Inc. (PI) and Onto Innovation Inc. (ONTO). The values are adjusted to include any dividend payments, if applicable.

PI vs. ONTO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PI Impinj, Inc.	-40.98%	19.79%	61.35%	-17.54%	23.09%	111.85%	61.91%	77.73%	-35.42%	-36.25%
ONTO Onto Innovation Inc.	29.91%	-5.29%	9.01%	124.56%	-32.74%	112.89%	30.13%	33.70%	9.67%	-0.56%

Fundamentals

Market Cap PI : $3.10B ONTO : $10.16B
EPS PI : -$0.37 ONTO : $2.78
PS Ratio PI : 8.45 ONTO : 10.04
PB Ratio PI : 14.80 ONTO : 4.84
Total Revenue (TTM) PI : $361.08M ONTO : $1.01B
Gross Profit (TTM) PI : $189.68M ONTO : $499.77M
EBITDA (TTM) PI : -$2.09M ONTO : $188.86M

Returns By Period

In the year-to-date period, PI achieves a -40.98% return, which is significantly lower than ONTO's 29.91% return.

PI

• 1D: 6.90%
• 1M: -16.27%
• YTD: -40.98%
• 6M: -43.18%
• 1Y: 13.23%
• 3Y*: -8.83%
• 5Y*: 11.74%
• 10Y*: —

ONTO

• 1D: 8.35%
• 1M: -5.01%
• YTD: 29.91%
• 6M: 58.70%
• 1Y: 69.00%
• 3Y*: 32.64%
• 5Y*: 24.01%
• 10Y*: 29.67%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

PI vs. ONTO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PI

PI Risk / Return Rank: 49
PI Sharpe Ratio Rank: 48
PI Sortino Ratio Rank: 52
PI Omega Ratio Rank: 52
PI Calmar Ratio Rank: 47
PI Martin Ratio Rank: 47

ONTO

ONTO Risk / Return Rank: 75
ONTO Sharpe Ratio Rank: 75
ONTO Sortino Ratio Rank: 71
ONTO Omega Ratio Rank: 73
ONTO Calmar Ratio Rank: 78
ONTO Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PI vs. ONTO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Impinj, Inc. (PI) and Onto Innovation Inc. (ONTO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	PI	ONTO	Difference
Sharpe ratio Return per unit of total volatility	0.16	1.00	-0.84
Sortino ratio Return per unit of downside risk	0.84	1.58	-0.73
Omega ratio Gain probability vs. loss probability	1.11	1.23	-0.12
Calmar ratio Return relative to maximum drawdown	0.19	2.02	-1.83
Martin ratio Return relative to average drawdown	0.43	4.20	-3.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PI vs. ONTO - Sharpe Ratio Comparison

The current PI Sharpe Ratio is 0.16, which is lower than the ONTO Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of PI and ONTO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PI	ONTO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	1.00	-0.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	0.44	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.20	+0.07

Correlation

The correlation between PI and ONTO is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

PI vs. ONTO - Dividend Comparison

Neither PI nor ONTO has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

PI vs. ONTO - Drawdown Comparison

The maximum PI drawdown since its inception was -81.35%, smaller than the maximum ONTO drawdown of -98.56%. Use the drawdown chart below to compare losses from any high point for PI and ONTO.

Drawdown Indicators

	PI	ONTO	Difference
Max Drawdown Largest peak-to-trough decline	-81.35%	-98.56%	+17.21%
Max Drawdown (1Y) Largest decline over 1 year	-62.24%	-33.64%	-28.60%
Max Drawdown (5Y) Largest decline over 5 years	-73.79%	-62.82%	-10.97%
Max Drawdown (10Y) Largest decline over 10 years	—	-62.82%	—
Current Drawdown Current decline from peak	-57.55%	-13.85%	-43.70%
Average Drawdown Average peak-to-trough decline	-36.51%	-54.98%	+18.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.87%	16.20%	+11.67%

Volatility

PI vs. ONTO - Volatility Comparison

Impinj, Inc. (PI) and Onto Innovation Inc. (ONTO) have volatilities of 23.02% and 22.54%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PI	ONTO	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.02%	22.54%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	59.56%	41.71%	+17.85%
Volatility (1Y) Calculated over the trailing 1-year period	81.67%	69.14%	+12.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.48%	54.81%	+14.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.95%	50.78%	+22.17%

Financials

PI vs. ONTO - Profitability Comparison

The chart below illustrates the profitability comparison between Impinj, Inc. and Onto Innovation Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

PI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Impinj, Inc. reported a gross profit of 48.06M and revenue of 92.85M. Therefore, the gross margin over that period was 51.8%.

ONTO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Onto Innovation Inc. reported a gross profit of 123.79M and revenue of 266.87M. Therefore, the gross margin over that period was 46.4%.

PI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Impinj, Inc. reported an operating income of -2.70M and revenue of 92.85M, resulting in an operating margin of -2.9%.

ONTO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Onto Innovation Inc. reported an operating income of 13.86M and revenue of 266.87M, resulting in an operating margin of 5.2%.

PI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Impinj, Inc. reported a net income of -1.14M and revenue of 92.85M, resulting in a net margin of -1.2%.

ONTO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Onto Innovation Inc. reported a net income of 10.53M and revenue of 266.87M, resulting in a net margin of 4.0%.