ON SEMICONDUCTOR (ON) Fundamental Analysis & Valuation

NASDAQ:ON • US6821891057

Current stock price

68.38 USD
+4.59 (+7.2%)
At close:
68 USD
-0.38 (-0.56%)
Pre-Market:

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.
  • In the past 5 years ON has always been profitable.
  • ON had a positive operating cash flow in each of the past 5 years.
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

  • Looking at the Return On Assets, with a value of 0.97%, ON is in line with its industry, outperforming 53.04% of the companies in the same industry.
  • ON has a Return On Equity of 1.58%. This is comparable to the rest of the industry: ON outperforms 53.04% of its industry peers.
  • 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.
  • The Average Return On Invested Capital over the past 3 years for ON is above the industry average of 10.70%.
  • 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

  • The Profit Margin of ON (2.02%) is comparable to the rest of the industry.
  • In the last couple of years the Profit Margin of ON has declined.
  • The Operating Margin of ON (12.53%) is better than 70.43% of its industry peers.
  • ON's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 33.09%, ON is doing worse than 65.22% of the companies in the same industry.
  • 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.
  • 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 5.37 indicates that ON is not in any danger for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 5.37, ON is in line with its industry, outperforming 55.65% of the companies in the same 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 Debt to FCF ratio of 2.12. This is in the better half of the industry: ON outperforms 66.09% of its industry peers.
  • A Debt/Equity ratio of 0.39 indicates that ON is not too dependend on debt financing.
  • ON has a Debt to Equity ratio of 0.39. This is in the lower half of the industry: ON underperforms 66.09% 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 5.37
ROIC/WACC0.53
WACC11.25%
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.
  • ON has a Current ratio of 4.52. This is in the better half of the industry: ON outperforms 66.09% of its industry peers.
  • A Quick Ratio of 2.98 indicates that ON has no problem at all paying its short term obligations.
  • The Quick ratio of ON (2.98) is better than 61.74% 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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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%.
  • 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.
  • The Revenue for ON has decreased by -15.35% in the past year. This is quite bad
  • 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 29.35% on average over the next years. This is a very strong growth
  • The Revenue is expected to grow by 9.71% on average over the next years. This is quite good.
EPS Next Y27.73%
EPS Next 2Y32.97%
EPS Next 3Y32.84%
EPS Next 5Y29.35%
Revenue Next Year4.61%
Revenue Next 2Y6.68%
Revenue Next 3Y7.76%
Revenue Next 5Y9.71%

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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6

4. ON Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 29.10 indicates a quite expensive valuation of ON.
  • Compared to the rest of the industry, the Price/Earnings ratio of ON indicates a rather cheap valuation: ON is cheaper than 84.35% of the companies listed in the same industry.
  • ON is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 26.91, which is the current average of the S&P500 Index.
  • A Price/Forward Earnings ratio of 22.78 indicates a rather expensive valuation of ON.
  • ON's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. ON is cheaper than 79.13% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 23.69. ON is around the same levels.
Industry RankSector Rank
PE 29.1
Fwd PE 22.78
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

  • Based on the Enterprise Value to EBITDA ratio, ON is valued cheaply inside the industry as 83.48% of the companies are valued more expensively.
  • 93.04% of the companies in the same industry are more expensive than ON, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 18.99
EV/EBITDA 18.79
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.
  • ON's earnings are expected to grow with 32.84% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.05
PEG (5Y)1.27
EPS Next 2Y32.97%
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

  • No dividends for ON!.
Industry RankSector Rank
Dividend Yield 0%

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ON Fundamentals: All Metrics, Ratios and Statistics

ON SEMICONDUCTOR

NASDAQ:ON (4/8/2026, 8:00:02 PM)

Premarket: 68 -0.38 (-0.56%)

68.38

+4.59 (+7.2%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)02-09
Earnings (Next)05-04
Inst Owners110.42%
Inst Owner Change0%
Ins Owners0.33%
Ins Owner Change0.3%
Market Cap26.94B
Revenue(TTM)6.00B
Net Income(TTM)121.00M
Analysts70.91
Price Target68.61 (0.34%)
Short Float %7.16%
Short Ratio3.28
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)-1.05%
PT rev (3m)13.47%
EPS NQ rev (1m)-2.12%
EPS NQ rev (3m)-1.32%
EPS NY rev (1m)-0.1%
EPS NY rev (3m)0.09%
Revenue NQ rev (1m)-0.07%
Revenue NQ rev (3m)-1.23%
Revenue NY rev (1m)-0.17%
Revenue NY rev (3m)-0.69%
Valuation
Industry RankSector Rank
PE 29.1
Fwd PE 22.78
P/S 4.49
P/FCF 18.99
P/OCF 15.31
P/B 3.51
P/tB 4.77
EV/EBITDA 18.79
EPS(TTM)2.35
EY3.44%
EPS(NY)3
Fwd EY4.39%
FCF(TTM)3.6
FCFY5.27%
OCF(TTM)4.47
OCFY6.53%
SpS15.22
BVpS19.47
TBVpS14.34
PEG (NY)1.05
PEG (5Y)1.27
Graham Number32.09
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 5.37
F-Score4
WACC11.25%
ROIC/WACC0.53
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 Y27.73%
EPS Next 2Y32.97%
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 Year4.61%
Revenue Next 2Y6.68%
Revenue Next 3Y7.76%
Revenue Next 5Y9.71%
EBIT growth 1Y-60.5%
EBIT growth 3Y-35.23%
EBIT growth 5Y12.59%
EBIT Next Year78.34%
EBIT Next 3Y37.25%
EBIT Next 5Y33.21%
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 6 / 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 29.1 and the Price/Book (PB) ratio is 3.51.


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

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