— Know what they know.
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Not Investment Advice

ON

NASDAQ · USD
ON Semiconductor Corporation
Technology · Semiconductors
CEO Hassane S. El-Khoury Employees 22,600 R&D / revenue 9.7%
Last price
$72.02−2.28%last session
Market cap
$28.0B
P/E (TTM)
45.6x
From 52w high
−46.6%
From 52w low
+61.6%
1-year return
+36.0%
RSI 14 · vs SMA200
41.0 · −11.8%
IS score
66.7/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

ON   SPY   XLK (sector ETF) · weekly closes
100150200Jan 26Apr 26Jul 26Oct 26ON 136XLK 129SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
44
Profitability
54
Growth
35
Value
83
Momentum
100
Risk (safety)
72
Quality
88
Balance sheet
70
Earnings quality

Flags

Strengths
✓ FCF yield 5%+✓ Congress buying
Warnings
None of the computed warning flags fires for ON (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: None, Efficient ScalePiotroski 6 / 9Altman Z 5.5Beta 2.002 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
3 open-market sales, $7.0M
Form 144 notices (12m): 13, $27.9M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
4
Last disclosed purchase 2026-09-28
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+174
245 new holders, 66 closed
1,005 filers hold 103.4% · 310 added, 340 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+237
1,203 funds adding shares
966 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
66.0%
20-day avg 57.1%, 50-day avg 45.5%
Latest 8.9 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$6.0B
Revenue growth YoY−15.3%
Gross margin32.3%
Operating income$747.6M
Operating margin12.5%
Net income$121.0M
Net margin2.0%
EPS (diluted)$0.29
Cash flow
Operating cash flow$1.8B
Capital expenditure$341.2M
Free cash flow$1.4B
FCF conversion (FCF / OCF)80.6%
Stock-based compensation$0
FCF less SBC$1.4B
Buybacks$1.4B
Dividends$0
Balance sheet & returns
Cash & short-term investments$2.5B
Total debt$3.2B
Net debt$681.8M
Shareholders' equity$7.7B
Goodwill & intangibles$2.0B
Debt / equity0.62
ROE (TTM)8.4%
ROIC (TTM)5.2%
Operating margin by fiscal year
20.2%FY202133.2%FY202230.8%FY202325.0%FY20242.3%FY2025
Revenue $6.7B (FY2021) to $6.0B (FY2025), a -2.9% CAGR.

Valuation

P/E (TTM)45.6x
EV / EBITDA18.8x
Price / sales4.52x
Price / FCF15.8x
FCF yield6.32%
Buyback yield4.91%
SBC / revenue2.4%
Price / book3.89x
Forward P/E FY202622.5x
Forward P/E FY202715.9x
Forward P/E FY202812.3x
Forward multiples divide today's price by Street EPS estimates. Street mean target $84.91 across 11 analysts last quarter is theirs, not ours.

ON vs industry median

196 companies in Semiconductors
Gross margin 37.4% 45.0% Operating margin 11.7% 5.8% Net margin 10.2% 5.7% ROIC 5.2% 6.2%
ON (TTM)Industry median Asset turnover 0.46 vs industry 0.52 · financial leverage 1.87

Earnings delivery

Next report 2026-11-02 · consensus EPS $0.88
83%
beat rate, 10 of 12 quarters
+3.6%
median EPS surprise
5
longest beat streak
+4+3+4+4+2-2+10-0+7+3+4+3
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-30 to 2026-08-03. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
ON ON Semiconductor Corporation $28.0B45.6x8.4%10.2%−15.3% +36.0%
GFS GLOBALFOUNDRIES Inc. $25.6B36.2x6.2%9.3%+1.4% +35.0%
CRDO Credo Technology Group Holdi $31.9B57.5x30.7%27.0%+165.1% +24.3%
Q Qnity Electronics, Inc. $24.1B41.2x5.2%8.7%— +21.1%
TSEM Tower Semiconductor Ltd. $22.1B82.0x9.9%19.7%+14.9% +161.4%
ENTG Entegris, Inc. $21.2B69.4x7.7%10.6%+3.2% —
MTSI MACOM Technology Solutions H $20.0B82.0x17.2%29.4%+28.4% —
MCHP Microchip Technology Incorpo $40.1B102.3x6.8%15.5%+20.9% —
12-month window: SPY +15.9%, sector ETF XLK +29.0%. Past returns describe history only.

Recent 8-K filings

2026-10-01Material Agreement; Other Events; Exhibits
2026-08-13Other Events
2026-08-03Earnings Release; Exhibits
2026-06-25Material Agreement; Other Events; Exhibits
2026-05-18Officer/Director Change; Shareholder Vote
2026-05-12Material Agreement; Financial Obligation; Unregistered Equity Sales; Other Events; Exhibits

Context

Shares outstanding389,312,000
Free float99.6%
Institutional ownership103.4%
Beta2.00
Dividend yield0.00%
Last dividendNone on file
50 / 200-day average$76.02 / $81.54
Large-cap Technology median P/E34.8x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (None).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where ON sits among 76 scored companies in Semiconductors (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureONIndustry medianIndustry percentileSector median
P/E (TTM) 44.5x 45.9x
45th		 32.0x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 4.5x 8.1x
33rd		 3.9x
Price / book 3.9x 5.5x
36th		 4.4x
Price / tangible book 7.1x 10.3x
34th		 8.8x
Price / free cash flow 15.8x 57.4x
4th		 20.3x
Price / operating cash flow 16.8x 38.7x
16th		 17.9x
Enterprise value $28.7B $6.8B
72nd		 $5.5B
EV / sales 4.6x 8.4x
34th		 4.1x
EV / EBITDA 22.6x 28.1x
33rd		 18.9x
EV / EBIT 38.1x 38.4x
47th		 26.7x
EV / free cash flow 16.2x 57.4x
4th		 21.9x
Earnings yield 2.2% 1.2%
69th		 2.0%
FCF yield 6.3% 1.4%
97th		 3.3%
Operating cash flow yield 6.0% 2.0%
88th		 4.4%
Graham number (per share) $25.02 $34.80
33rd		 $28.08

Profitability (TTM)

MeasureONIndustry medianIndustry percentileSector median
Gross margin 37.4% 48.5%
29th		 55.7%
EBITDA margin 20.4% 18.7%
55th		 13.7%
Operating margin 11.7% 10.1%
53rd		 8.2%
EBIT margin 12.1% 12.1%
50th		 8.6%
Net margin 10.2% 9.4%
52nd		 5.7%
NOPAT margin 10.3% 9.3%
52nd		 7.0%
FCF margin 28.6% 12.0%
91st		 15.0%
Operating cash flow margin 27.0% 18.3%
75th		 18.4%
R&D / revenue 9.0% 17.5%
20th		 12.9%
SG&A / revenue 9.9% 14.9%
28th		 25.6%
Stock comp / revenue 2.4% 3.9%
36th		 4.4%
Effective tax rate 11.8% 17.4%
18th		 21.0%

Returns on capital

MeasureONIndustry medianIndustry percentileSector median
ROE (on average equity) 8.3% 6.8%
53rd		 9.4%
ROA 4.7% 4.2%
53rd		 4.1%
ROIC 8.1% 7.9%
51st		 9.0%
ROCE 6.6% 6.6%
49th		 8.6%
Return on tangible assets 5.7% 5.7%
49th		 5.9%
Cash ROIC (OCF / invested capital) 21.3% 14.1%
64th		 20.7%
Gross profitability (GP / assets) 17.2% 21.5%
33rd		 30.0%
ROIC, 3-yr average 12.1% 6.8%
62nd		 7.4%
ROIC, 5-yr average 21.7% 16.5%
65th		 7.9%
ROE, 5-yr average 19.5% 10.9%
75th		 6.9%
Incremental ROIC 58.7% 13.4%
75th		 15.3%

Growth

MeasureONIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) -3.1% 17.8%
10th		 14.3%
Revenue growth (QoQ) 6.0% 13.2%
17th		 6.6%
Revenue CAGR, 3 yr -9.5% 3.5%
9th		 9.6%
Revenue CAGR, 5 yr 0.9% 6.5%
21st		 11.5%
Gross profit CAGR, 3 yr -16.5% 2.6%
8th		 10.9%
Operating income CAGR, 3 yr -35.3% -2.2%
20th		 11.3%
Net income growth (TTM YoY) 35.3% 35.4%
49th		 21.6%
Net income CAGR, 3 yr -31.4% 1.9%
23rd		 9.9%
EPS growth (TTM YoY) 38.8% 37.4%
56th		 22.3%
EPS CAGR, 3 yr -29.0% -0.5%
28th		 11.2%
EPS CAGR, 5 yr 5.7% 7.5%
41st		 12.0%
FCF growth (TTM YoY) 37.7% 31.5%
57th		 24.6%
FCF CAGR, 3 yr 15.0% 2.9%
61st		 19.3%
Operating cash flow CAGR, 3 yr -12.9% 4.1%
28th		 17.9%
Book value CAGR, 3 yr 4.7% 7.2%
39th		 6.8%
Dividend CAGR, 3 yr —
Sustainable growth rate 8.3% 10.7%
38th		 14.2%

Margin history & stability

MeasureONIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 40.5% 47.6%
33rd		 53.2%
Operating margin, 3-yr average 15.8% 8.0%
66th		 6.6%
Net margin, 3-yr average 14.1% 7.9%
63rd		 5.2%
FCF margin, 3-yr average 20.8% 11.5%
70th		 12.7%
Revenue stability (0-1) 0.00 0.58
0th		 0.87
Earnings stability (0-1) 0.06 0.36
17th		 0.45
Margin stability (0-1) 0.86 0.93
26th		 0.95

Liquidity (latest quarter)

MeasureONIndustry medianIndustry percentileSector median
Cash & short-term investments $3.9B $667.9M
83rd		 $494.1M
Net cash (− = net debt) −$618.2M $201.8M
17th		 $49.8M
Working capital $5.2B $953.3M
84th		 $391.0M
Current ratio 3.46 3.45
51st		 1.92
Quick ratio 2.49 2.56
49th		 1.67
Cash ratio (cash + ST investments / current liabilities) 1.84 1.60
55th		 0.95
Defensive interval (days) 1,087 days 778 days
67th		 521 days

Leverage & solvency (latest quarter)

MeasureONIndustry medianIndustry percentileSector median
Total debt $4.5B $307.1M
83rd		 $349.3M
Debt / equity 0.62 0.17
77th		 0.29
Net debt / equity 0.09 −0.19
73rd		 −0.13
Debt / assets 33.2% 11.2%
80th		 16.9%
Debt / capital 38.3% 14.8%
77th		 22.3%
Debt / EBITDA 3.54 1.14
74th		 1.78
Net debt / EBITDA 0.49 −0.82
75th		 −0.18
Interest coverage (EBIT / interest) 12.3x 12.4x
48th		 5.8x
Cash interest coverage 27.2x 15.4x
63rd		 12.8x
Debt payback (years of OCF) 2.7 yrs 1.2 yrs
72nd		 1.6 yrs
Liabilities / assets 46.3% 30.8%
67th		 48.7%
IS credit model rating A+ — —
Implied credit spread (bps) 125 125
45th		 175

Efficiency

MeasureONIndustry medianIndustry percentileSector median
Asset turnover 0.47 0.52
32nd		 0.62
Fixed asset turnover 2.12 4.69
21st		 9.25
Inventory turnover 1.9 2.7
18th		 3.8
Receivables turnover 6.8 6.3
57th		 6.2
Days sales outstanding 54 days 58 days
43rd		 59 days
Days inventory outstanding 195 days 137 days
82nd		 94 days
Days payables outstanding 46 days 50 days
40th		 46 days
Cash conversion cycle (days) 203 days 129 days
80th		 50 days
Capex / revenue —
Capex / depreciation —
Operating expense ratio 22.3% 32.6%
24th		 44.3%

Cash flow & earnings quality

MeasureONIndustry medianIndustry percentileSector median
Operating cash flow / net income 2.65 1.34
77th		 1.61
FCF / net income 2.81 0.88
90th		 1.33
FCF / operating cash flow —
Capex / operating cash flow —
Accruals ratio -7.8% -4.4%
23rd		 -6.3%
Sloan accruals ratio -3.2% 2.2%
24th		 -1.8%
Earnings quality score (0-1) 0.75 0.75
15th		 0.75

Dividends & buybacks

MeasureONIndustry medianIndustry percentileSector median
Dividend yield 0.0% 0.0%
0th		 0.0%
Dividend per share (TTM) $0.00 $0.00
0th		 $0.00
Payout ratio (dividends / net income) 0.0% 5.0%
0th		 0.0%
Dividends / FCF 0.0% 0.0%
0th		 0.0%
Dividend growth (YoY) —
Buyback yield 5.2% 0.1%
100th		 1.2%
Shareholder yield (dividends + buybacks) 5.2% 0.3%
99th		 1.7%
Share count change (YoY) -2.5% 1.6%
5th		 0.1%
Buybacks, last 5 years $6.3B $67.3M
85th		 $215.3M

Scores & forensic checks

MeasureONIndustry medianIndustry percentileSector median
IS score 67 59
67th		 56
IS profitability 44 43
52nd		 40
IS growth 54 69
26th		 65
IS value 35 36
36th		 39
IS momentum 83 79
60th		 78
IS risk (safety) 100 100
12th		 100
IS quality 72 70
56th		 67
IS balance sheet 88 84
64th		 72
IS earnings quality 70 65
72nd		 61
IS cash flow 85 58
87th		 66
Piotroski F-score (0-9) 6 6
43rd		 6
Altman Z-score 5.5 12.3
27th		 4.0
Beneish M-score −2.84 −2.45
18th		 −2.58
Ohlson O-score −9.23 −9.33
52nd		 −8.00
IS credit score 78 78
49th		 69

Per share

MeasureONIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $1.56 $1.49
52nd		 $0.84
Book value per share $17.85 $17.90
49th		 $9.77
Tangible book per share $13.38 $11.01
57th		 $3.22
Revenue per share $15.33 $13.47
57th		 $13.00
FCF per share $4.38 $1.50
80th		 $1.78
Operating cash flow per share $4.13 $2.35
71st		 $2.40
Cash per share $9.56 $6.31
69th		 $4.50

Size (TTM)

MeasureONIndustry medianIndustry percentileSector median
Market cap $28.0B $6.8B
72nd		 $4.7B
Revenue $6.2B $1.1B
77th		 $1.2B
EBITDA $1.3B $207.9M
73rd		 $185.8M
Net income $630.2M $119.3M
77th		 $84.9M
Free cash flow $1.8B $114.6M
83rd		 $170.6M
Total assets $13.5B $2.3B
76th		 $2.4B
Shareholders' equity $7.2B $1.4B
77th		 $1.1B
Employees 22,600 2,286
80th		 3,000

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-02Mascarenas Paul Anthony
Director
 Award / grant 126$84.89$10,69657,716
2026-10-01Gopalswamy Sudhir
Group President, AMG & ISG
 Open-market sale 15,578$80.00$1.2M158,177
2026-07-02Mascarenas Paul Anthony
Director
 Award / grant 116$91.22$10,58257,590
2026-05-26Gopalswamy Sudhir
Group President, AMG & ISG
 Tax withholding 470$127.00$59,690173,588
2026-05-14Deitrich Thomas
Director
 Award / grant 1,986——26,060
2026-05-14Waters Gregory L
Director
 Award / grant 1,986——24,524
2026-05-14Carter Susan K
Director
 Award / grant 1,986——25,638
2026-05-14Yan Christine Y
Director
 Award / grant 1,986——48,655
2026-05-14Kiddoo Bruce E
Director
 Award / grant 1,986——19,216
2026-05-14Mascarenas Paul Anthony
Director
 Award / grant 1,986——57,474
2026-04-24Thad Trent
Exec VP & CFO
 Open-market sale 30,000$100.00$3.0M271,194
2026-04-23Thad Trent
Exec VP & CFO
 Open-market sale 30,000$93.00$2.8M301,194

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJulOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired812,158$21,278
Open-market saleDisposed375,578$7.0M
Tax withholdingDisposed1470$59,690
—Disposed10—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 13 notices · 340,302 shares · $27.9M
FiledFilerShares proposedEst. proceeds
2026-10-01Gopalswamy Sudhir15,578$1.2M
2026-06-10Alan Campbell16,660$1.8M
2026-06-03Keeton Simon19,902$2.6M
2026-05-15Alan Campbell22,188$2.5M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 5 trades (4 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-28Gilbert CisnerosHousePurchase$15,001 - $50,0002026-10-13
2026-09-28Gilbert CisnerosHousePurchase$15,001 - $50,0002026-10-12
2026-09-23Ro KhannaHousePurchase$15,001 - $50,0002026-10-09
2026-05-01Ro KhannaHousePurchase$1,001 - $15,0002026-06-11
2018-09-28Sheldon WhitehouseSenateSale (Full)$1,001 - $15,0002018-10-22
2018-09-28Sheldon WhitehouseSenateSale (Full)$1,001 - $15,0002018-10-21
2018-09-28Sheldon WhitehouseSenateSale (Full)$1,001 - $15,0002018-10-21
2018-06-13Sheldon WhitehouseSenatePurchase$1,001 - $15,0002018-07-13
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
FMR LLC56,679,393$5.4B14.56%
BlackRock, Inc.40,980,739$3.9B10.53%
VANGUARD CAPITAL MANAGEMENT LLC25,616,396$2.4B6.58%
VANGUARD PORTFOLIO MANAGEMENT LLC19,639,331$1.9B5.04%
STATE STREET CORP18,557,255$1.8B4.77%
Jupiter Topco LLC13,427,527$1.3B3.45%
GEODE CAPITAL MANAGEMENT, LLC10,836,563$1.0B2.78%
GOLDMAN SACHS GROUP INC7,877,881$744.8M2.02%
NORGES BANK7,857,251$742.8M2.02%
JPMORGAN CHASE & CO7,846,121$694.9M2.02%
BANK OF AMERICA CORP /DE/6,275,395$593.3M1.61%
AMERIPRISE FINANCIAL INC5,632,321$532.5M1.45%
MORGAN STANLEY5,465,691$516.7M1.40%
VAN ECK ASSOCIATES CORP5,143,343$486.3M1.32%
Amundi5,053,243$477.7M1.30%

Institutional ownership by quarter

2023-092026-06103.4%
% of shares held by 13F filers
2023-092026-061,005
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,005103.4%24531034066
2026-03-31831104.2%14229027892
2025-12-31799108.1%13724731299
2025-09-30779109.4%98266291104
2025-06-30798111.1%15129626090
2025-03-31747107.2%95285276184
2024-12-31850107.5%135266349111
2024-09-30842108.1%10032329494
2024-06-30845106.2%10229432797
2024-03-31856106.5%105305332123
2023-12-31883107.1%138285362151
2023-09-30910106.2%10333635687

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-10-07SCHEDULE 13G/AAbigail P. Johnson8.2%31,915,450
2026-04-30SCHEDULE 13GVanguard Capital Management7.5%29,575,202
2026-04-29SCHEDULE 13GVanguard Portfolio Management5.1%20,112,107
2026-01-30SCHEDULE 13G/AThe Vanguard Group12.7%51,066,453
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
FSELX3.59%$1.6B
VITSX0.04%$950.1M
VSMPX0.04%$950.1M
VTSAX0.04%$950.1M
VTI0.04%$950.1M
VOO0.05%$785.8M

Share structure

Shares outstanding389,312,000
Float387,657,146
Free float99.6%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$6.7B$8.3B$8.3B$7.1B$6.0B
Cost of revenue$4.0B$4.2B$4.4B$3.9B$4.1B
Gross profit$2.7B$4.1B$3.9B$3.2B$1.9B
R&D$655.0M$600.2M$577.3M$612.7M$583.6M
SG&A$598.4M$631.1M$641.5M$649.8M$604.8M
Operating income$1.3B$2.4B$2.5B$1.8B$747.6M
EBITDA$1.9B$3.0B$3.2B$2.5B$888.2M
Pretax income$1.2B$2.4B$2.5B$1.8B$131.3M
Income tax$146.6M$458.4M$350.2M$262.8M$7.7M
Net income$1.0B$1.9B$2.2B$1.6B$121.0M
EPS, diluted$2.27$4.25$4.89$3.63$0.29
Diluted shares443.8M448.2M446.8M432.7M411.8M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$1.4B$2.9B$2.5B$3.0B$2.5B
Receivables$809.4M$842.3M$935.4M$1.2B$955.4M
Inventory$1.4B$1.6B$2.1B$2.2B$2.0B
Total current assets$3.8B$5.7B$5.9B$6.8B$5.8B
PP&E, net$2.5B$3.5B$4.4B$4.4B$3.4B
Goodwill & intangibles$2.4B$1.9B$1.9B$1.8B$2.0B
Total assets$9.6B$12.0B$13.2B$14.1B$12.5B
Accounts payable$635.1M$852.1M$725.6M$574.5M$572.3M
Total current liabilities$1.5B$2.1B$2.2B$1.3B$1.3B
Long-term debt$2.9B$3.0B$2.5B$3.3B$3.2B
Total liabilities$5.0B$5.8B$5.4B$5.3B$4.8B
Shareholders' equity$4.6B$6.2B$7.8B$8.8B$7.7B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$1.0B$1.9B$2.2B$1.6B$121.0M
Depreciation & amortization$596.7M$551.8M$609.5M$642.9M$686.0M
Stock-based compensation$101.3M$100.8M$121.1M$136.1M$0
Change in working capital−$58.9M−$250.4M−$862.7M−$382.0M$493.0M
Operating cash flow$1.8B$2.6B$2.0B$1.9B$1.8B
Capital expenditure−$492.0M−$1.0B−$1.5B−$694.0M−$341.2M
Free cash flow$1.3B$1.6B$438.4M$1.2B$1.4B
Investing cash flow−$915.1M−$705.4M−$1.7B−$1.0B−$538.5M
Net debt issued / repaid−$483.2M−$41.5M$106.3M−$2.2M−$376.7M
Buybacks$0−$259.8M−$564.2M−$654.1M−$1.4B
Dividends paid$0$0$0$0$0

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin40.3%49.0%47.1%45.4%32.8%
Operating margin20.2%33.2%30.8%25.0%2.3%
Net margin15.0%22.8%26.5%22.2%2.0%
FCF margin19.1%19.2%7.7%17.1%28.2%
ROE24.9%35.3%31.3%19.0%1.5%
ROIC18.8%34.3%25.3%16.5%1.5%
ROA11.0%17.6%17.3%11.5%0.9%
Debt / equity0.680.520.430.380.45
Interest coverage9.9x25.9x34.9x30.5x2.9x
Current ratio2.452.782.715.064.52
Revenue growth+28.3%+23.5%−0.9%−14.2%−15.3%
EPS growth+317.8%+87.3%+17.0%−26.3%−91.8%
P/E at year end30.0x14.7x16.8x17.2x180.0x
EV / EBITDA at year end17.0x9.4x11.7x10.8x25.6x
FCF yield at year end4.27%5.71%1.74%4.48%7.76%
Dividend payout0.0%0.0%0.0%0.0%0.0%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Power Solutions Group$3.4B$4.2B$4.4B$3.3B$2.8B
Analog Solutions Group$2.4B$2.8B$2.5B$2.6B—
PSG————$2.8B
AMG————$2.3B
Intelligent Sensing Group$900.8M$1.3B$1.3B$1.1B$928.4M
ISG————$928.4M

Revenue by region · FY2025

Other Geographical Areas$530.6M · 100%

Street estimates by fiscal year

Next report 2026-11-02 · consensus EPS $0.88 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$6.6B$6.5B – $6.7B$3.20$3.00 – $3.332122.5x
2027$7.4B$7.3B – $7.7B$4.52$4.03 – $4.712115.9x
2028$8.4B$8.0B – $9.3B$5.87$4.60 – $6.811012.3x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-03$0.71$0.74+3.5%$1.6B$1.6B+0.9%
2026-05-04$0.61$0.64+4.4%$1.5B$1.5B+1.7%
2026-02-09$0.62$0.64+2.6%$1.5B$1.5B−0.4%
2025-11-03$0.59$0.63+6.8%$1.5B$1.6B+2.2%
2025-08-04$0.53$0.53−0.4%$1.5B$1.5B+1.1%
2025-05-05$0.50$0.55+9.6%$1.4B$1.4B+3.1%
2025-02-10$0.97$0.95−2.5%$1.8B$1.7B−2.0%
2024-10-28$0.97$0.99+2.1%$1.8B$1.8B+0.6%
2024-07-29$0.92$0.96+4.3%$1.7B$1.7B+0.4%
2024-04-29$1.04$1.08+3.8%$1.8B$1.9B+0.7%
2024-02-05$1.21$1.25+3.3%$2.0B$2.0B+0.8%
2023-10-30$1.34$1.39+3.7%$2.1B$2.2B+1.5%
2023-07-31$1.21$1.33+9.9%$2.0B$2.1B+3.5%
2023-05-01$1.09$1.19+9.2%$1.9B$2.0B+1.8%
2023-02-06$1.27$1.32+3.9%$2.1B$2.1B+1.2%
2022-10-31$1.31$1.45+10.7%$2.1B$2.2B+3.6%
2022-08-01$1.26$1.34+6.3%$2.0B$2.1B+3.5%
2022-05-02$1.05$1.22+16.2%$1.9B$1.9B+2.0%
2022-02-07$0.94$1.09+16.0%$1.8B$1.8B+3.1%
2021-11-01$0.74$0.87+17.6%$1.7B$1.7B+1.7%
2021-08-02$0.49$0.63+28.6%$1.7B$1.7B0.0%
2021-05-03$0.34$0.35+2.9%$1.5B$1.5B+1.4%
2021-02-01$0.28$0.35+25.0%$1.4B$1.4B+6.9%
2020-10-31$0.19$0.27+42.1%$975.6M$1.3B+35.0%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
1.106-152.106-221.306-291.207-060.907-130.807-201.007-271.608-030.808-100.608-170.508-240.608-31
Week ofNotionalSharesTrades
2026-08-31$626.7M8,523,367143,505
2026-08-24$517.8M7,110,758136,069
2026-08-17$624.6M7,980,290151,649
2026-08-10$763.0M9,276,268155,881
2026-08-03$1.6B20,344,437268,571
2026-07-27$996.1M11,844,200218,151

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1566.0%
DateShort shareShort volumeTotal volume
2026-10-1566.0%2,424,6913,672,403
2026-10-1469.2%2,205,8643,187,282
2026-10-1364.7%1,309,2172,023,976
2026-10-1241.8%936,8782,240,403
2026-10-0943.6%1,715,2493,930,685
2026-10-0846.3%1,853,3684,000,387
2026-10-0766.0%2,585,3793,914,318
2026-10-0661.7%1,674,4212,715,114
2026-10-0570.1%2,880,2014,107,445
2026-10-0262.2%5,527,6158,883,493
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+0.8Jan+2.6Feb-2.6Mar+3.0Apr+3.6May-1.4Jun+4.7Jul-2.0Aug-0.2Sep-1.4Oct+2.7Nov+5.5Dec
MonthAvg returnUp yearsYears
Jan+0.8%60%20
Feb+2.6%55%20
Mar−2.6%43%21
Apr+3.0%35%20
May+3.6%75%20
Jun−1.4%30%20
Jul+4.7%70%20
Aug−2.0%45%20
Sep−0.2%65%20
Oct−1.4%50%20
Nov+2.7%70%20
Dec+5.5%75%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1441.0
MFI47.8
ADX19.4
Stochastic %K / %D11.2 / 18.1
Williams %R-93.6
CCI-77
TSI / signal-1.4 / 3.1
Chaikin money flow0.20
ATR$3.50
Bollinger width22.8%
Volume vs 20-day avg0.84x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$77.33 (−6.9%)
SMA 50$75.90 (−5.1%)
SMA 200$81.63 (−11.8%)
EMA 21$76.55 (−5.9%)
EMA 50$78.40 (−8.1%)
EMA 200$79.11 (−9.0%)
Bollinger upper$86.14 (−16.4%)
Bollinger lower$68.52 (+5.1%)
Parabolic SAR$85.17 (−15.4%)
Open the live chart, 110+ indicators

About ON Semiconductor Corporation

ON Semiconductor Corporation operates as a global provider of sophisticated power and sensing solutions. Their cutting-edge power innovations are pivotal in modernizing various sectors: they contribute to the development of lighter, extended-range electric vehicles, underpin rapid-charging infrastructure, and bolster sustainable energy initiatives for applications such as solar arrays, industrial power systems, and energy storage. The company's operations are structured into three main divisions: the Power Solutions Group, the Advanced Solutions Group, and the Intelligent Sensing Group. ON Semiconductor offers a broad array of semiconductor products, including analog components, discrete devices, modules, and integrated circuits. These products are designed to perform numerous critical functions, such as power switching, energy conversion, signal conditioning, circuit protection, signal amplification, and voltage regulation. Beyond these standard offerings, the firm also designs and develops specialized analog, mixed-signal, advanced logic, application-specific integrated circuits (ASICs) and standard products, radio frequency (RF) components, and integrated power management solutions, catering to a diverse range of end-market consumers. Furthermore, it provides foundry and design services specifically for government clients. The company's portfolio also encompasses advanced imaging technologies. This includes the creation of complementary metal-oxide-semiconductor (CMOS) image sensors, sophisticated image signal processors, and single photon detectors like silicon photomultipliers (SiPMs) and single-photon avalanche diode (SPAD) arrays. Additionally, ON Semiconductor produces actuator drivers essential for autofocus and image stabilization, serving a wide spectrum of end-users across numerous industries. Established in 1992, ON Semiconductor Corporation is headquartered in Phoenix, Arizona.

https://www.onsemi.com

Key executives

NameTitlePayBorn
Hassane S. El-KhouryPresident, Chief Executive Officer & Director$1.2M1980
S. Thad TrentExecutive Vice President, Chief Financial Officer, Treasurer & Principal Accounting Officer$1.2M1968
Thad TrentExecutive Vice President, Chief Financial Officer, Treasurer & Principal Accounting Officer$1.2M1968
Sudhir GopalswamyGroup President of Intelligent Sensing & Analog and Mixed Signal Group$1.0M1970
Catherine CoteVP, Chief of Staff & Head of Office of the CEO——
Jon ImperatoSenior Vice President of Sales & Applications—1973
Krystal HeatonDirector & Head of Public Relations——
Paul DuttonSenior Vice President, Chief Legal Officer & Secretary——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Hassane El-Khoury President and Chief Executive Officer2025$1.2M$16.4M$0$17.7M
Thad Trent Executive Vice President and Chief Financial Officer2025$675,000$5.9M$469,631$7.1M
Sudhir Gopalswamy Group President, AMG and ISG2025$600,000$4.4M$363,840$5.4M
Simon Keeton Group President, PSG2025$600,000$4.4M$264,720$5.3M

Employees

36k201835k201931k202030k202131k202230k202326k202423k2025

Dividends

Ex-dateAmountPaid
None on file.

Moat model

None · Efficient Scale · 2026-07-03
Cost advantage45
Intangibles14
Switching costs24
Network effect45
Efficient scale90
Our component scores (0-100) and overall 38.8; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms