ON Semiconductor Corporation (ON) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.72	$0.74	+2.8%	—	$1.6B	—
Q1 26	$0.62	$0.64	+3.2%	—	$1.5B	—
Q4 25	$0.62	$0.64	+3.2%	—	$1.5B	—
Q3 25	$0.59	$0.63	+6.8%	—	$1.6B	—
Q2 25	$0.53	$0.53	0.0%	—	$1.5B	—
Q1 25	$0.5	$0.55	+10.0%	—	$1.4B	—
Q4 24	$0.97	$0.95	-2.1%	—	$1.7B	—
Q3 24	$0.97	$0.99	+2.1%	—	$1.8B	—
Q2 24	$0.92	$0.96	+4.3%	—	$1.7B	—
Q1 24	$1.05	$1.08	+2.9%	—	$1.9B	—
Q4 23	$1.2	$1.25	+4.2%	—	$2B	—
Q3 23	$1.34	$1.39	+3.7%	—	$2.2B	—
Q2 23	$1.21	$1.33	+9.9%	—	$2.1B	—
Q1 23	$1.08	$1.19	+10.2%	—	$2B	—
Q4 22	$1.26	$1.32	+4.8%	—	$2.1B	—
Q3 22	$1.31	$1.45	+10.7%	—	$2.2B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.29	—	—	$6B	—
FY24	—	$3.68	—	—	$7.1B	—
FY23	—	$5.07	—	—	$8.3B	—
FY22	—	$4.39	—	—	$8.3B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$3.9B	$5.5B	$5.9B	$5.5B	$5.3B	$6.7B	$8.3B	$8.3B	$7.1B	$6B
YoY change	+11.8%	+41.9%	+6.05%	-6.13%	-4.76%	+28.3%	+23.5%	-0.88%	-14.2%	-15.3%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	3.9B	5.5B	5.9B	5.5B	5.3B	6.7B	8.3B	8.3B	7.1B	6B
Cost of revenue	2.6B	3.5B	3.6B	3.5B	3.5B	4B	4.2B	4.4B	3.9B	4B
Gross profit	1.3B	2B	2.2B	2B	1.7B	2.7B	4.1B	3.9B	3.2B	2B
Gross margin	33.3%	36.7%	38.1%	35.8%	32.7%	40.3%	49%	47.1%	45.4%	33.1%
Research & development	446.8M	594.7M	650.7M	640.9M	642.9M	655M	600.2M	577.3M	612.7M	583.6M
Selling, general & administrative	466.7M	601.6M	618M	585M	537.4M	598.4M	631.1M	641.5M	649.8M	604.8M
Operating expenses	913.5M	1.2B	1.3B	1.2B	1.2B	1.3B	1.2B	1.2B	1.3B	1.2B
Operating income	282.2M	715.5M	858.3M	632.5M	415.2M	1.4B	2.8B	2.6B	1.9B	751.1M
Operating margin	7.22%	12.9%	14.6%	11.5%	7.9%	20.2%	33.2%	31.7%	26.9%	12.5%
Non-operating income, net	39.2M	-29.8M	18.8M	-217.8M	-75.1M	-75.1M	-323.1M	-96.1M	-113.3M	-644M
Pretax income	180.6M	547.5M	755M	276.6M	176.6M	1.2B	2.4B	2.5B	1.8B	131.3M
Income tax	-3.9M	-265.5M	125.1M	62.7M	-59.8M	146.6M	458.4M	350.2M	262.8M	7.7M
Net income	184.5M	813M	629.9M	213.9M	236.4M	1B	1.9B	2.2B	1.6B	123.6M
Net margin	4.72%	14.7%	10.7%	3.88%	4.5%	15%	22.9%	26.5%	22.2%	2.06%
EBITDA	639.5M	1.2B	1.4B	1.2B	1B	2B	3.4B	3.3B	2.7B	1.6B
EPS	0.44	1.92	1.48	0.52	0.57	2.37	4.39	5.07	3.68	0.29
Diluted EPS	0.43	1.89	1.44	0.51	0.56	2.27	4.24	4.89	3.63	0.29

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	2.2B	2B	1.9B	1.7B	1.8B	1.7B	1.4B	1.5B	1.6B	1.5B	1.5B	1.6B
Cost of revenue	1.2B	1.1B	1B	951.2M	962.5M	943.4M	1.2B	916.8M	963.7M	979.1M	930.2M	987.2M
Gross profit	1B	941.9M	853.6M	784M	799.4M	779.1M	293.8M	551.9M	587.2M	551M	583.1M	616.3M
Gross margin	47.3%	46.7%	45.8%	45.2%	45.4%	45.2%	20.3%	37.6%	37.9%	36%	38.5%	38.4%
Research & development	143.4M	150.2M	150M	156.5M	151M	155.2M	164.1M	143.8M	141.9M	133.8M	144.3M	140.8M
Selling, general & administrative	178.9M	156.1M	164.4M	153.6M	160.9M	170.9M	152.7M	154.5M	150.1M	147.5M	152.4M	165.2M
Operating expenses	322.3M	306.3M	314.4M	310.1M	311.9M	326.1M	316.8M	298.3M	292M	281.3M	296.7M	306M
Operating income	696.4M	623.5M	526.6M	461M	474.5M	439.5M	-34.4M	242.6M	284M	258.9M	275.9M	299.8M
Operating margin	31.9%	30.9%	28.3%	26.6%	26.9%	25.5%	-2.38%	16.5%	18.3%	16.9%	18.2%	18.7%
Non-operating income, net	-8.4M	-23.1M	-400K	-70.6M	-32.8M	-9.5M	-535.2M	-47.7M	-16M	-45.1M	-325.5M	-32.6M
Pretax income	697.5M	610.9M	538.2M	402.1M	454.6M	442.5M	-561M	202.2M	273M	217.1M	-44.6M	270.9M
Income tax	114.6M	47.5M	84.5M	63.7M	51.9M	62.7M	-75.8M	30.5M	17.7M	35.3M	-11.7M	43.4M
Net income	582.9M	563.4M	453.7M	338.4M	402.7M	379.8M	-485.2M	171.7M	255.3M	181.8M	-32.9M	227.5M
Net margin	26.7%	27.9%	24.4%	19.5%	22.9%	22%	-33.6%	11.7%	16.5%	11.9%	-2.17%	14.2%
EBITDA	878.6M	798.4M	710.1M	649.9M	661.2M	655.3M	164.5M	425.7M	456.8M	508.1M	584.1M	467.1M
EPS	1.35	1.31	1.06	0.79	0.94	0.89	-1.15	0.41	0.63	0.45	-0.08	0.58
Diluted EPS	1.29	1.28	1.04	0.78	0.93	0.88	-1.15	0.41	0.63	0.45	-0.08	0.56

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	5.3B	8.8B	7B	10B	13.4B	28.9B	27B	36B	26.9B	22.3B	29.5B
Enterprise value	7.9B	10.8B	8.7B	12.7B	15.9B	30.7B	27.3B	36.9B	27.3B	22.7B	30.9B
Shares outstanding	415.2M	421.9M	423.8M	410.9M	410.7M	425.7M	433.2M	430.7M	427.4M	411M	411M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	28.7	10.9	11.1	46.8	56.9	28.6	14.2	16.5	17.1	180.1	50.6
P/S	1.36	1.59	1.19	1.82	2.56	4.29	3.25	4.36	3.8	3.71	4.8
P/B	2.87	3.15	2.19	3.01	3.78	6.28	4.35	4.61	3.06	2.89	4.12
EV/EBITDA	12.3	9.09	6.36	10.4	15.3	15.5	8.15	11.1	10.2	14.6	14.8
EV/Sales	2.02	1.96	1.48	2.31	3.02	4.55	3.28	4.47	3.86	3.79	4.99
Earnings yield	3.48%	9.2%	9%	2.14%	1.76%	3.5%	7.05%	6.08%	5.84%	0.56%	1.97%
FCF yield	6.95%	8%	10.9%	0.6%	2.98%	4.46%	5.91%	1.12%	4.5%	6.37%	5.62%
PEG	—	—	—	—	—	—	—	—	—	—	1.22

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	33.3%	36.7%	38.1%	35.8%	32.7%	40.3%	49%	47.1%	45.4%	33.1%	38.4%
Operating margin	7.22%	12.9%	14.6%	11.5%	7.9%	20.2%	33.2%	31.7%	26.9%	12.5%	19.5%
Net margin	4.72%	14.7%	10.7%	3.88%	4.5%	15%	22.9%	26.5%	22.2%	2.06%	10.2%
ROE	10%	29%	19.7%	6.43%	6.64%	22%	30.7%	28%	17.9%	1.61%	8.31%
ROA	2.66%	11.3%	8.3%	2.54%	2.73%	10.5%	15.9%	16.5%	11.2%	0.99%	6.75%
ROIC	6.36%	14.9%	14.6%	8.09%	6.96%	18.7%	34.2%	26%	17.7%	8.68%	12.6%
Return on tangible assets	5.2%	19.8%	13.7%	5.45%	5.37%	21.2%	23.5%	23.1%	15.1%	1.46%	6.68%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.91	2.08	2.16	1.66	1.9	2.45	2.78	2.71	5.06	4.52	3.46
Quick ratio	1.22	1.31	1.32	0.98	1.15	1.56	2	1.74	3.38	2.98	2.49
Debt / equity	1.96	1.05	0.87	1.09	0.98	0.67	0.52	0.43	0.38	0.39	0.65
Debt / assets	0.52	0.41	0.36	0.43	0.4	0.32	0.27	0.25	0.24	0.24	0.33
Net debt / EBITDA	4.06	1.68	1.24	2.22	2.33	0.88	0.09	0.26	0.14	0.29	0.31
Interest coverage	2.24	4.88	6.89	2.87	2.05	9.88	25.9	34.9	30.5	2.85	12.7
Effective tax rate	0%	0%	16.6%	22.7%	0%	12.7%	19.4%	13.8%	14.3%	5.86%	11.8%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	9.41	13.1	13.9	13.4	12.8	15.8	19.2	19.2	16.6	14.6	15.6
EPS (basic)	0.44	1.92	1.48	0.52	0.57	2.37	4.39	5.07	3.68	0.29	0.29
EPS (diluted)	0.43	1.89	1.44	0.51	0.56	2.27	4.24	4.89	3.63	0.29	1.51
Book value per share	4.44	6.64	7.54	8.09	8.66	10.8	14.3	18.1	20.6	18.7	18.5
FCF per share	0.89	1.68	1.79	0.15	0.98	3.03	3.69	0.93	2.84	3.45	3.71
Cash per share	2.48	2.25	2.52	2.18	2.63	3.18	6.74	5.77	7	6.2	9.93
Capex per share	0.51	0.9	1.12	1.29	0.91	1.12	2.26	3.56	1.61	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	5.44%	6.88%	8.07%	9.57%	7.14%	7.09%	11.7%	18.6%	9.71%	—	—
Capex / operating cash flow	33.3%	46.1%	39.3%	59%	40.6%	29.4%	43.9%	72.7%	38.2%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$2.2B	$2B	$1.9B	$1.7B	$1.8B	$1.7B	$1.4B	$1.5B	$1.6B	$1.5B	$1.5B	$1.6B
YoY change	-0.54%	-4.06%	-4.95%	-17.2%	-19.2%	-14.6%	-22.4%	-15.4%	-12%	-11.2%	+4.68%	+9.18%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	1B	949.2M	1.1B	894.2M	1.1B	1.4B	2.9B	2.5B	3B	2.5B
Receivables	629.8M	701.5M	686M	705M	676M	809.4M	842.3M	935.4M	1.2B	908M
Inventory	1B	1.1B	1.2B	1.2B	1.3B	1.4B	1.6B	2.1B	2.2B	2B
Total current assets	2.9B	2.9B	3.2B	3B	3.2B	3.8B	5.7B	5.9B	6.8B	5.8B
Property, plant & equipment	1.4B	1.5B	1.7B	1.7B	1.7B	1.6B	2.4B	3.1B	3B	1.9B
Goodwill & intangibles	3.4B	3.1B	3B	4.5B	4.3B	4.8B	3.9B	3.8B	3.7B	4B
Total assets	6.9B	7.2B	7.6B	8.4B	8.7B	9.6B	12B	13.2B	14.1B	12.5B
Accounts payable	434M	548M	671.7M	543.6M	572.9M	635.1M	852.1M	725.6M	574.5M	572.3M
Short-term debt	553.8M	248.1M	138.5M	736M	531.6M	173.4M	162M	794.8M	300K	500K
Total current liabilities	1.5B	1.4B	1.5B	1.8B	1.7B	1.5B	2.1B	2.2B	1.3B	1.3B
Long-term debt	3.1B	2.7B	2.6B	2.9B	3B	2.9B	3.1B	2.6B	3.4B	3B
Total liabilities	5.1B	4.4B	4.4B	5.1B	5.1B	5B	5.8B	5.4B	5.3B	4.8B
Shareholders' equity	1.8B	2.8B	3.2B	3.3B	3.6B	4.6B	6.2B	7.8B	8.8B	7.7B
Total debt	3.6B	3B	2.8B	3.6B	3.5B	3.1B	3.2B	3.4B	3.4B	3B
Net debt	2.6B	2B	1.7B	2.7B	2.4B	1.7B	311.7M	876.8M	675.6M	857.2M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	2.7B	2.5B	2.6B	2.7B	2.8B	3B	3B	2.8B	2.9B	2.5B	2.4B	3.9B
Receivables	958.2M	935.4M	873.3M	887.2M	1.1B	1.2B	825M	927M	943.4M	908M	862.8M	897.2M
Inventory	2.1B	2.1B	2.1B	2.2B	2.2B	2.2B	2.1B	2.1B	2B	2B	2B	2B
Total current assets	6.1B	5.9B	6.1B	6.3B	6.5B	6.8B	6.3B	6.4B	6.3B	5.8B	5.8B	7.3B
Property, plant & equipment	4.4B	3.1B	4.4B	4.4B	4.4B	3B	2.4B	2.3B	3.6B	1.9B	3B	2.9B
Goodwill & intangibles	3.8B	3.8B	3.7B	3.7B	3.7B	3.7B	3.9B	3.9B	3.9B	4B	4B	4B
Total assets	13.3B	13.2B	13.5B	13.7B	13.9B	14.1B	13.3B	13.1B	13B	12.5B	12B	13.5B
Accounts payable	911.3M	725.6M	665.8M	617.7M	597.5M	574.5M	496.6M	474.3M	479.1M	572.3M	486.1M	498.3M
Short-term debt	918.1M	794.8M	795.1M	796M	796.8M	300K	400K	400K	500K	500K	500K	802.6M
Total current liabilities	2.5B	2.2B	2.1B	2.1B	2.1B	1.3B	1.3B	1.3B	1.2B	1.3B	1.2B	2.1B
Long-term debt	2.6B	2.6B	2.6B	2.6B	2.6B	3.4B	3.4B	3.4B	3.4B	3B	3B	3.7B
Total liabilities	5.8B	5.4B	5.3B	5.3B	5.3B	5.3B	5.2B	5.2B	5.1B	4.8B	4.7B	6.2B
Shareholders' equity	7.5B	7.8B	8.1B	8.4B	8.6B	8.8B	8B	8B	7.9B	7.7B	7.3B	7.2B
Total debt	3.5B	3.4B	3.4B	3.4B	3.4B	3.4B	3.4B	3.4B	3.4B	3B	3B	4.5B
Net debt	801.6M	876.8M	746.1M	1.1B	896.2M	675.6M	607.8M	848.1M	904.9M	857.2M	1B	968.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	184.5M	813M	629.9M	213.9M	236.4M	1B	1.9B	2.2B	1.6B	123.6M
Depreciation & amortization	364.1M	481.9M	508.7M	593.1M	625.1M	596.7M	551.8M	609.5M	642.9M	686M
Stock-based compensation	56.1M	69.8M	78.3M	79.4M	67.7M	101.3M	100.8M	121.1M	136.1M	144.3M
Change in working capital	38.3M	-238.1M	-127.6M	-54.8M	60.3M	-182.8M	-346.9M	-684.1M	-444.2M	595.7M
Operating cash flow	638.3M	827.3M	1.2B	895.4M	924.5M	1.6B	2.2B	2.1B	1.8B	1.8B
Capital expenditure	-212.5M	-381.4M	-474.2M	-528.1M	-375.1M	-478M	-976.9M	-1.5B	-687.8M	—
Investing cash flow	-2.4B	-366.4M	-548.9M	-1.4B	-353.6M	-915.1M	-705.4M	-1.7B	-1B	-229.5M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	0	-25M	-315.3M	-139M	-65.4M	0	-259.8M	-564.2M	-654.1M	-1.4B
Financing cash flow	2.2B	-937.7M	-635.8M	595.2M	-267.6M	-686.7M	-392.9M	-954.8M	-709M	-1.8B
Net change in cash	436.7M	-476.8M	21.5M	79.7M	303.3M	26.7M	1.1B	-581.7M	82.1M	-255.6M
Free cash flow	368.2M	706.7M	759.4M	60.1M	400.7M	1.3B	1.6B	401.9M	1.2B	1.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	—	—	—	—	—	—	—	—	255.3M	181.8M	-32.9M	227.5M
Depreciation & amortization	—	—	—	—	—	—	—	—	146.5M	214.9M	286.7M	141.3M
Stock-based compensation	—	—	—	—	—	—	—	—	38.2M	37.8M	37.3M	37.4M
Change in working capital	-31.4M	24.6M	55M	-19.1M	-181.4M	-98.8M	334.1M	-148.2M	113.4M	224.9M	-165.8M	-48.3M
Operating cash flow	-31.4M	24.6M	55M	-19.1M	-181.4M	-98.8M	334.1M	-148.2M	418.7M	554.5M	239.1M	459.7M
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	—	—	—	—	—	—	—	—	-100M	-7M	4.2M	34M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	-325M	-450.2M	-345.7M	-344.8M
Financing cash flow	—	—	—	—	—	—	—	—	-328.2M	-829.4M	-372.7M	-715.9M
Net change in cash	-31.4M	24.6M	55M	-19.1M	-181.4M	-98.8M	334.1M	-148.2M	-9.5M	-281.9M	-129.4M	-222.2M
Free cash flow	—	—	—	—	—	—	—	—	372.4M	485.4M	217.2M	425.4M

ON Semiconductor Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement