ON SEMICONDUCTOR (ON) Fundamental Analysis & Valuation

NASDAQ:ON • US6821891057

59.23 USD
+2.36 (+4.15%)
At close: Mar 9, 2026
60 USD
+0.77 (+1.3%)
Pre-Market: 3/10/2026, 5:16:52 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

This ON fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

6

ON gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 115 industry peers in the Semiconductors & Semiconductor Equipment industry. ON has an excellent financial health rating, but there are some minor concerns on its profitability. ON scores decently on growth, while it is valued quite cheap. This could make an interesting combination. These ratings could make ON a good candidate for value investing.


Dividend Valuation Growth Profitability Health

6

1. ON Profitability Analysis

1.1 Basic Checks

  • In the past year ON was profitable.
  • ON had a positive operating cash flow in the past year.
  • Each year in the past 5 years ON has been profitable.
  • In the past 5 years ON always reported a positive cash flow from operatings.
ON Yearly Net Income VS EBIT VS OCF VS FCFON Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B 2.5B

1.2 Ratios

  • ON's Return On Assets of 0.97% is in line compared to the rest of the industry. ON outperforms 53.04% of its industry peers.
  • The Return On Equity of ON (1.58%) is comparable to the rest of the industry.
  • ON has a better Return On Invested Capital (6.01%) than 67.83% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for ON is above the industry average of 10.50%.
  • The last Return On Invested Capital (6.01%) for ON is well below the 3 year average (13.57%), which needs to be investigated, but indicates that ON had better years and this may not be a problem.
Industry RankSector Rank
ROA 0.97%
ROE 1.58%
ROIC 6.01%
ROA(3y)9.55%
ROA(5y)11%
ROE(3y)15.84%
ROE(5y)20.05%
ROIC(3y)13.57%
ROIC(5y)16.19%
ON Yearly ROA, ROE, ROICON Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

1.3 Margins

  • With a Profit Margin value of 2.02%, ON perfoms like the industry average, outperforming 53.04% of the companies in the same industry.
  • In the last couple of years the Profit Margin of ON has declined.
  • Looking at the Operating Margin, with a value of 12.53%, ON is in the better half of the industry, outperforming 69.57% of the companies in the same industry.
  • ON's Operating Margin has improved in the last couple of years.
  • ON has a Gross Margin of 33.09%. This is in the lower half of the industry: ON underperforms 65.22% of its industry peers.
  • ON's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 12.53%
PM (TTM) 2.02%
GM 33.09%
OM growth 3Y-27.74%
OM growth 5Y9.66%
PM growth 3Y-55.46%
PM growth 5Y-14.65%
GM growth 3Y-12.25%
GM growth 5Y0.27%
ON Yearly Profit, Operating, Gross MarginsON Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

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7

2. ON Health Analysis

2.1 Basic Checks

  • ON has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • ON has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for ON has been reduced compared to 5 years ago.
  • The debt/assets ratio for ON is higher compared to a year ago.
ON Yearly Shares OutstandingON Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M
ON Yearly Total Debt VS Total AssetsON Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B

2.2 Solvency

  • An Altman-Z score of 4.98 indicates that ON is not in any danger for bankruptcy at the moment.
  • The Altman-Z score of ON (4.98) is comparable to the rest of the industry.
  • ON has a debt to FCF ratio of 2.12. This is a good value and a sign of high solvency as ON would need 2.12 years to pay back of all of its debts.
  • ON has a Debt to FCF ratio of 2.12. This is in the better half of the industry: ON outperforms 66.96% of its industry peers.
  • A Debt/Equity ratio of 0.39 indicates that ON is not too dependend on debt financing.
  • The Debt to Equity ratio of ON (0.39) is worse than 67.83% of its industry peers.
  • Although ON's pure debt/equity ratio does not look good, it has limited outstanding debt compared to the Free Cash Flow. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
Industry RankSector Rank
Debt/Equity 0.39
Debt/FCF 2.12
Altman-Z 4.98
ROIC/WACC0.55
WACC10.99%
ON Yearly LT Debt VS Equity VS FCFON Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B

2.3 Liquidity

  • ON has a Current Ratio of 4.52. This indicates that ON is financially healthy and has no problem in meeting its short term obligations.
  • The Current ratio of ON (4.52) is better than 66.96% of its industry peers.
  • ON has a Quick Ratio of 2.98. This indicates that ON is financially healthy and has no problem in meeting its short term obligations.
  • ON's Quick ratio of 2.98 is fine compared to the rest of the industry. ON outperforms 62.61% of its industry peers.
Industry RankSector Rank
Current Ratio 4.52
Quick Ratio 2.98
ON Yearly Current Assets VS Current LiabilitesON Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. ON Growth Analysis

3.1 Past

  • The earnings per share for ON have decreased strongly by -40.95% in the last year.
  • Measured over the past years, ON shows a very strong growth in Earnings Per Share. The EPS has been growing by 22.85% on average per year.
  • ON shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -15.35%.
  • Measured over the past years, ON shows a small growth in Revenue. The Revenue has been growing by 2.67% on average per year.
EPS 1Y (TTM)-40.95%
EPS 3Y-23.89%
EPS 5Y22.85%
EPS Q2Q%-32.63%
Revenue 1Y (TTM)-15.35%
Revenue growth 3Y-10.37%
Revenue growth 5Y2.67%
Sales Q2Q%-11.17%

3.2 Future

  • The Earnings Per Share is expected to grow by 31.02% on average over the next years. This is a very strong growth
  • The Revenue is expected to grow by 13.03% on average over the next years. This is quite good.
EPS Next Y27.86%
EPS Next 2Y34.36%
EPS Next 3Y32.56%
EPS Next 5Y31.02%
Revenue Next Year4.79%
Revenue Next 2Y7.44%
Revenue Next 3Y7.81%
Revenue Next 5Y13.03%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
ON Yearly Revenue VS EstimatesON Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2B 4B 6B 8B 10B
ON Yearly EPS VS EstimatesON Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2 4 6 8

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Find the best growth stocksShow best growing peers

7

4. ON Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 25.20 indicates a quite expensive valuation of ON.
  • Based on the Price/Earnings ratio, ON is valued cheaper than 86.96% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of ON to the average of the S&P500 Index (26.46), we can say ON is valued inline with the index average.
  • A Price/Forward Earnings ratio of 19.71 indicates a rather expensive valuation of ON.
  • Based on the Price/Forward Earnings ratio, ON is valued cheaper than 83.48% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of ON to the average of the S&P500 Index (24.65), we can say ON is valued slightly cheaper.
Industry RankSector Rank
PE 25.2
Fwd PE 19.71
ON Price Earnings VS Forward Price EarningsON Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • ON's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. ON is cheaper than 81.74% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, ON is valued cheaply inside the industry as 93.91% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 16.8
EV/EBITDA 16.62
ON Per share dataON EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The decent profitability rating of ON may justify a higher PE ratio.
  • ON's earnings are expected to grow with 32.56% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.9
PEG (5Y)1.1
EPS Next 2Y34.36%
EPS Next 3Y32.56%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. ON Dividend Analysis

5.1 Amount

  • ON does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

More info and screens

Find the best dividend stocksShow peers with best dividend

ON Fundamentals: All Metrics, Ratios and Statistics

ON SEMICONDUCTOR

NASDAQ:ON (3/9/2026, 8:00:02 PM)

Premarket: 60 +0.77 (+1.3%)

59.23

+2.36 (+4.15%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)02-09
Earnings (Next)05-04
Inst Owners112.18%
Inst Owner Change-2.86%
Ins Owners0.3%
Ins Owner Change0.37%
Market Cap23.83B
Revenue(TTM)6.00B
Net Income(TTM)121.00M
Analysts71.82
Price Target69.34 (17.07%)
Short Float %8.63%
Short Ratio3.68
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)1.74%
Min EPS beat(2)-0.21%
Max EPS beat(2)3.69%
EPS beat(4)2
Avg EPS beat(4)1.38%
Min EPS beat(4)-3.5%
Max EPS beat(4)5.53%
EPS beat(8)4
Avg EPS beat(8)0.1%
EPS beat(12)8
Avg EPS beat(12)1.22%
EPS beat(16)12
Avg EPS beat(16)2.47%
Revenue beat(2)0
Avg Revenue beat(2)-1.96%
Min Revenue beat(2)-3.28%
Max Revenue beat(2)-0.65%
Revenue beat(4)1
Avg Revenue beat(4)-1.41%
Min Revenue beat(4)-3.28%
Max Revenue beat(4)0.12%
Revenue beat(8)1
Avg Revenue beat(8)-2.22%
Revenue beat(12)2
Avg Revenue beat(12)-1.87%
Revenue beat(16)4
Avg Revenue beat(16)-1.5%
PT rev (1m)6.92%
PT rev (3m)15.65%
EPS NQ rev (1m)0.82%
EPS NQ rev (3m)0.87%
EPS NY rev (1m)0%
EPS NY rev (3m)0.23%
Revenue NQ rev (1m)-1.16%
Revenue NQ rev (3m)-1.1%
Revenue NY rev (1m)-0.6%
Revenue NY rev (3m)-0.52%
Valuation
Industry RankSector Rank
PE 25.2
Fwd PE 19.71
P/S 3.98
P/FCF 16.8
P/OCF 13.54
P/B 3.11
P/tB 4.22
EV/EBITDA 16.62
EPS(TTM)2.35
EY3.97%
EPS(NY)3
Fwd EY5.07%
FCF(TTM)3.53
FCFY5.95%
OCF(TTM)4.37
OCFY7.38%
SpS14.9
BVpS19.07
TBVpS14.04
PEG (NY)0.9
PEG (5Y)1.1
Graham Number31.75
Profitability
Industry RankSector Rank
ROA 0.97%
ROE 1.58%
ROCE 6.68%
ROIC 6.01%
ROICexc 7.77%
ROICexgc 10.13%
OM 12.53%
PM (TTM) 2.02%
GM 33.09%
FCFM 23.66%
ROA(3y)9.55%
ROA(5y)11%
ROE(3y)15.84%
ROE(5y)20.05%
ROIC(3y)13.57%
ROIC(5y)16.19%
ROICexc(3y)17.59%
ROICexc(5y)21.3%
ROICexgc(3y)22.32%
ROICexgc(5y)28.91%
ROCE(3y)15.1%
ROCE(5y)18%
ROICexgc growth 3Y-40.91%
ROICexgc growth 5Y0.52%
ROICexc growth 3Y-39.74%
ROICexc growth 5Y4.24%
OM growth 3Y-27.74%
OM growth 5Y9.66%
PM growth 3Y-55.46%
PM growth 5Y-14.65%
GM growth 3Y-12.25%
GM growth 5Y0.27%
F-Score4
Asset Turnover0.48
Health
Industry RankSector Rank
Debt/Equity 0.39
Debt/FCF 2.12
Debt/EBITDA 2.09
Cap/Depr 49.74%
Cap/Sales 5.69%
Interest Coverage 12.88
Cash Conversion 122.46%
Profit Quality 1172.4%
Current Ratio 4.52
Quick Ratio 2.98
Altman-Z 4.98
F-Score4
WACC10.99%
ROIC/WACC0.55
Cap/Depr(3y)138.73%
Cap/Depr(5y)137.28%
Cap/Sales(3y)11.53%
Cap/Sales(5y)10.86%
Profit Quality(3y)422.63%
Profit Quality(5y)295.92%
High Growth Momentum
Growth
EPS 1Y (TTM)-40.95%
EPS 3Y-23.89%
EPS 5Y22.85%
EPS Q2Q%-32.63%
EPS Next Y27.86%
EPS Next 2Y34.36%
EPS Next 3Y32.56%
EPS Next 5Y31.02%
Revenue 1Y (TTM)-15.35%
Revenue growth 3Y-10.37%
Revenue growth 5Y2.67%
Sales Q2Q%-11.17%
Revenue Next Year4.79%
Revenue Next 2Y7.44%
Revenue Next 3Y7.81%
Revenue Next 5Y13.03%
EBIT growth 1Y-60.5%
EBIT growth 3Y-35.23%
EBIT growth 5Y12.59%
EBIT Next Year78.34%
EBIT Next 3Y37.25%
EBIT Next 5Y34.14%
FCF growth 1Y17.01%
FCF growth 3Y-3.87%
FCF growth 5Y28.77%
OCF growth 1Y-7.69%
OCF growth 3Y-12.57%
OCF growth 5Y14.76%

ON SEMICONDUCTOR / ON FAQ

What is the ChartMill fundamental rating of ON SEMICONDUCTOR (ON) stock?

ChartMill assigns a fundamental rating of 6 / 10 to ON.


What is the valuation status of ON SEMICONDUCTOR (ON) stock?

ChartMill assigns a valuation rating of 7 / 10 to ON SEMICONDUCTOR (ON). This can be considered as Undervalued.


Can you provide the profitability details for ON SEMICONDUCTOR?

ON SEMICONDUCTOR (ON) has a profitability rating of 6 / 10.


What is the expected EPS growth for ON SEMICONDUCTOR (ON) stock?

The Earnings per Share (EPS) of ON SEMICONDUCTOR (ON) is expected to grow by 27.86% in the next year.