ON SEMICONDUCTOR (ON) Fundamental Analysis & Valuation

NASDAQ:ON • US6821891057

Current stock price

98.86 USD
+5.56 (+5.96%)
At close:
98.48 USD
-0.38 (-0.38%)
After Hours:

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

6

1. ON Profitability Analysis

1.1 Basic Checks

  • In the past year ON was profitable.
  • In the past year ON had a positive cash flow from operations.
  • ON had positive earnings in each of the past 5 years.
  • 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 has a Return On Assets of 0.97%. This is comparable to the rest of the industry: ON outperforms 52.17% of its industry peers.
  • ON has a Return On Equity (1.58%) which is comparable to the rest of the industry.
  • ON has a Return On Invested Capital of 6.01%. This is in the better half of the industry: ON outperforms 66.96% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for ON is above the industry average of 10.73%.
  • The 3 year average ROIC (13.57%) for ON is well above the current ROIC(6.01%). The reason for the recent decline needs to be investigated.
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

  • ON has a Profit Margin of 2.02%. This is comparable to the rest of the industry: ON outperforms 52.17% of its industry peers.
  • ON's Profit Margin has declined in the last couple of years.
  • The Operating Margin of ON (12.53%) is better than 70.43% of its industry peers.
  • In the last couple of years the Operating Margin of ON has grown nicely.
  • ON has a worse Gross Margin (33.09%) than 62.61% of its industry peers.
  • In the last couple of years the Gross Margin of ON has remained more or less at the same level.
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

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so ON is still creating some value.
  • Compared to 1 year ago, ON has less shares outstanding
  • ON has less shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, ON has a worse debt to assets ratio.
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 6.57 indicates that ON is not in any danger for bankruptcy at the moment.
  • The Altman-Z score of ON (6.57) is comparable to the rest of the industry.
  • The Debt to FCF ratio of ON is 2.12, which is a good value as it means it would take ON, 2.12 years of fcf income to pay off all of its debts.
  • ON has a better Debt to FCF ratio (2.12) than 66.09% of its industry peers.
  • A Debt/Equity ratio of 0.39 indicates that ON is not too dependend on debt financing.
  • ON's Debt to Equity ratio of 0.39 is on the low side compared to the rest of the industry. ON is outperformed by 67.83% of its industry peers.
  • Even though the debt/equity ratio score it not favorable for ON, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
Industry RankSector Rank
Debt/Equity 0.39
Debt/FCF 2.12
Altman-Z 6.57
ROIC/WACC0.48
WACC12.57%
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

  • A Current Ratio of 4.52 indicates that ON has no problem at all paying its short term obligations.
  • Looking at the Current ratio, with a value of 4.52, ON is in the better half of the industry, outperforming 66.09% of the companies in the same industry.
  • A Quick Ratio of 2.98 indicates that ON has no problem at all paying its short term obligations.
  • ON has a Quick ratio of 2.98. This is in the better half of the industry: ON outperforms 60.87% 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

  • ON shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -40.95%.
  • ON shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 22.85% yearly.
  • Looking at the last year, ON shows a very negative growth in Revenue. The Revenue has decreased by -15.35% in the last year.
  • The Revenue has been growing slightly by 2.67% on average over the past years.
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 29.35% on average over the next years. This is a very strong growth
  • Based on estimates for the next years, ON will show a quite strong growth in Revenue. The Revenue will grow by 9.33% on average per year.
EPS Next Y25.3%
EPS Next 2Y31.02%
EPS Next 3Y32.84%
EPS Next 5Y29.35%
Revenue Next Year4.67%
Revenue Next 2Y6.77%
Revenue Next 3Y7.76%
Revenue Next 5Y9.33%

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.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
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
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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5

4. ON Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 42.07, which means the current valuation is very expensive for ON.
  • Compared to the rest of the industry, the Price/Earnings ratio of ON indicates a rather cheap valuation: ON is cheaper than 81.74% of the companies listed in the same industry.
  • ON's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 26.54.
  • The Price/Forward Earnings ratio is 33.57, which means the current valuation is very expensive for ON.
  • ON's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. ON is cheaper than 71.30% of the companies in the same industry.
  • ON is valuated expensively when we compare the Price/Forward Earnings ratio to 21.68, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 42.07
Fwd PE 33.57
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

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of ON indicates a rather cheap valuation: ON is cheaper than 80.87% of the companies listed in the same industry.
  • Based on the Price/Free Cash Flow ratio, ON is valued cheaply inside the industry as 91.30% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 27.41
EV/EBITDA 25.58
ON Per share dataON EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The decent profitability rating of ON may justify a higher PE ratio.
  • A more expensive valuation may be justified as ON's earnings are expected to grow with 32.84% in the coming years.
PEG (NY)1.66
PEG (5Y)1.84
EPS Next 2Y31.02%
EPS Next 3Y32.84%

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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%

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ON Fundamentals: All Metrics, Ratios and Statistics

ON SEMICONDUCTOR

NASDAQ:ON (4/29/2026, 5:55:54 PM)

After market: 98.48 -0.38 (-0.38%)

98.86

+5.56 (+5.96%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Industry Strength90.68
Industry Growth92.55
Earnings (Last)02-09
Earnings (Next)05-04
Inst Owners110.38%
Inst Owner Change0.13%
Ins Owners0.3%
Ins Owner Change-0.07%
Market Cap38.88B
Revenue(TTM)6.00B
Net Income(TTM)121.00M
Analysts70.91
Price Target68.94 (-30.27%)
Short Float %7.67%
Short Ratio3.6
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)-0.58%
PT rev (3m)11.32%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-1.32%
EPS NY rev (1m)-1.9%
EPS NY rev (3m)-1.87%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.23%
Revenue NY rev (1m)0.08%
Revenue NY rev (3m)-0.66%
Valuation
Industry RankSector Rank
PE 42.07
Fwd PE 33.57
P/S 6.49
P/FCF 27.41
P/OCF 22.1
P/B 5.07
P/tB 6.88
EV/EBITDA 25.58
EPS(TTM)2.35
EY2.38%
EPS(NY)2.94
Fwd EY2.98%
FCF(TTM)3.61
FCFY3.65%
OCF(TTM)4.47
OCFY4.53%
SpS15.24
BVpS19.51
TBVpS14.36
PEG (NY)1.66
PEG (5Y)1.84
Graham Number32.1172 (-67.51%)
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 6.57
F-Score4
WACC12.57%
ROIC/WACC0.48
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 Y25.3%
EPS Next 2Y31.02%
EPS Next 3Y32.84%
EPS Next 5Y29.35%
Revenue 1Y (TTM)-15.35%
Revenue growth 3Y-10.37%
Revenue growth 5Y2.67%
Sales Q2Q%-11.17%
Revenue Next Year4.67%
Revenue Next 2Y6.77%
Revenue Next 3Y7.76%
Revenue Next 5Y9.33%
EBIT growth 1Y-60.5%
EBIT growth 3Y-35.23%
EBIT growth 5Y12.59%
EBIT Next Year81.7%
EBIT Next 3Y37.78%
EBIT Next 5Y30.85%
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 Fundamental Analysis 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 5 / 10 to ON SEMICONDUCTOR (ON). This can be considered as Fairly Valued.


What is the profitability of ON stock?

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


Can you provide the PE and PB ratios for ON stock?

The Price/Earnings (PE) ratio for ON SEMICONDUCTOR (ON) is 42.07 and the Price/Book (PB) ratio is 5.07.


What is the financial health of ON SEMICONDUCTOR (ON) stock?

The financial health rating of ON SEMICONDUCTOR (ON) is 7 / 10.