NASDAQ : ON
ON Semiconductor Corporation — Financial statements
Technology · Semiconductors · United States
Last price 71.67 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 27.90B
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Financial statements
ON Semiconductor Corporation (ON) reported revenue of 6.20B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 6.20B | 6.00B | 7.08B | 8.25B | 8.33B | 6.74B |
| Cost of Revenue | 3.55B | 3.70B | 3.87B | 4.37B | 4.22B | 4.03B |
| Gross Profit | 2.65B | 2.30B | 3.22B | 3.88B | 4.10B | 2.71B |
| Selling, General & Admin | 609.70M | 599.30M | 643.50M | 651.80M | 616.80M | 574.60M |
| Research & Development | 560.80M | 583.60M | 612.70M | 577.30M | 600.20M | 655.00M |
| Amortization of Goodwill & Intangibles | 43.00M | 44.40M | 52.00M | 51.10M | 81.20M | 99.00M |
| Other Operating Expenses | 700.00K | 700.00K | 3.80M | -5.90M | 600.00K | |
| Operating Expenses | 1.21B | 1.23B | 1.31B | 1.27B | 1.30B | 1.33B |
| Operating Income | 1.44B | 1.07B | 1.90B | 2.61B | 2.80B | 1.39B |
| Interest Expense | -61.40M | -70.90M | -62.30M | -74.80M | -94.90M | -130.40M |
| Interest & Investment Income | 78.40M | 95.10M | 120.90M | 93.10M | 15.50M | 1.40M |
| Currency Exchange Gain (Loss) | 5.50M | 5.50M | 900.00K | -7.90M | -700.00K | -800.00K |
| Other Non Operating Income (Expenses) | 18.70M | 11.90M | -8.00M | 4.10M | 8.10M | -5.00M |
| EBT Excluding Unusual Items | 1.48B | 1.11B | 1.96B | 2.62B | 2.73B | 1.25B |
| Merger & Restructuring Charges | -761.80M | -979.80M | -130.10M | -80.80M | -456.50M | -67.50M |
| Gain (Loss) on Sale of Assets | -700.00K | 101.80M | 10.20M | |||
| Asset Writedown | -4.00M | -3.30M | ||||
| Legal Settlements | -3.50M | |||||
| Other Unusual Items | 11.90M | -6.40M | -7.10M | -29.00M | ||
| Pretax Income | 716.40M | 131.30M | 1.84B | 2.54B | 2.36B | 1.16B |
| Income Tax Expense | 84.70M | 7.70M | 262.80M | 350.20M | 458.40M | 146.60M |
| Earnings From Continuing Operations | 631.70M | 123.60M | 1.57B | 2.19B | 1.90B | 1.01B |
| Minority Interest in Earnings | -1.50M | -2.60M | -1.80M | -1.90M | -1.60M | -1.60M |
| Net Income | 630.20M | 121.00M | 1.57B | 2.18B | 1.90B | 1.01B |
| Net Income to Common | 630.20M | 121.00M | 1.57B | 2.18B | 1.90B | 1.01B |
| Shares Outstanding (Basic) | 398.10M | 411.00M | 427.40M | 430.70M | 433.20M | 425.70M |
| Shares Outstanding (Diluted) | 403.55M | 411.80M | 432.70M | 446.80M | 448.20M | 443.80M |
| EPS (Basic) | 1.58 | 0.29 | 3.68 | 5.07 | 4.39 | 2.37 |
| EPS (Diluted) | 1.56 | 0.29 | 3.63 | 4.89 | 4.25 | 2.27 |
| Free Cash Flow | 1.50B | 1.42B | 1.21B | 438.40M | 1.60B | 1.29B |
| Free Cash Flow Per Share | 3.72 | 3.44 | 2.80 | 0.98 | 3.56 | 2.91 |
| Gross Margin | 42.78% | 38.32% | 45.41% | 47.06% | 49.26% | 40.27% |
| Operating Margin | 23.19% | 17.84% | 26.88% | 31.61% | 33.67% | 20.55% |
| Profit Margin | 10.17% | 2.02% | 22.21% | 26.46% | 22.85% | 14.98% |
| Free Cash Flow Margin | 24.21% | 23.66% | 17.12% | 5.31% | 19.18% | 19.14% |
| EBITDA | 2.09B | 1.76B | 2.55B | 3.22B | 3.36B | 1.98B |
| EBITDA Margin | 33.72% | 29.28% | 35.96% | 39.00% | 40.30% | 29.40% |
| D&A For EBITDA | 652.90M | 686.00M | 642.90M | 609.50M | 551.80M | 596.70M |
| EBIT | 1.44B | 1.07B | 1.90B | 2.61B | 2.80B | 1.39B |
| EBIT Margin | 23.19% | 17.84% | 26.88% | 31.61% | 33.67% | 20.55% |
| Effective Tax Rate | 11.82% | 5.86% | 14.30% | 13.81% | 19.41% | 12.66% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.51B | 2.15B | 2.69B | 2.48B | 2.92B | 1.35B |
| Short-Term Investments | 350.00M | 400.00M | 300.00M | 32.20M | ||
| Cash & Short-Term Investments | 3.86B | 2.55B | 2.99B | 2.48B | 2.95B | 1.35B |
| Accounts Receivable | 942.80M | 955.40M | 1.20B | 1.02B | 844.60M | 809.40M |
| Other Receivables | 12.90M | 86.30M | 12.90M | |||
| Receivables | 942.80M | 968.30M | 1.29B | 1.03B | 844.60M | 809.40M |
| Inventory | 2.05B | 1.99B | 2.24B | 2.11B | 1.62B | 1.38B |
| Restricted Cash | 1.40M | 1.40M | 2.10M | 2.00M | 14.00M | 20.10M |
| Other Current Assets | 425.60M | 316.20M | 230.30M | 284.10M | 302.80M | 220.00M |
| Total Current Assets | 7.28B | 5.82B | 6.75B | 5.91B | 5.73B | 3.78B |
| Property, Plant & Equipment | 3.09B | 3.59B | 4.65B | 4.69B | 3.76B | 2.72B |
| Goodwill | 1.69B | 1.68B | 1.59B | 1.58B | 1.58B | 1.94B |
| Other Intangible Assets | 329.40M | 343.90M | 257.90M | 299.30M | 359.70M | 495.70M |
| Long-Term Accounts Receivable | 12.00M | |||||
| Long-Term Deferred Tax Assets | 1.01B | 929.10M | 729.90M | 600.80M | 376.70M | 366.30M |
| Other Long-Term Assets | 86.00M | 155.20M | 110.50M | 122.00M | 176.50M | 328.20M |
| Total Assets | 13.49B | 12.52B | 14.09B | 13.22B | 11.98B | 9.63B |
| Accounts Payable | 498.30M | 572.30M | 574.50M | 725.60M | 852.10M | 635.10M |
| Accrued Expenses | 659.00M | 177.30M | 134.50M | 183.80M | 284.80M | 448.90M |
| Current Portion of Long-Term Debt | 802.10M | 794.00M | 147.80M | 160.70M | ||
| Current Portion of Leases | 24.50M | 34.40M | 31.80M | 33.80M | 49.40M | 45.20M |
| Current Income Taxes Payable | 14.70M | 25.10M | 37.40M | 34.80M | 23.60M | |
| Current Unearned Revenue | 45.30M | 51.80M | 98.20M | 87.60M | ||
| Other Current Liabilities | 72.70M | 437.20M | 470.70M | 321.40M | 692.50M | 229.90M |
| Total Current Liabilities | 2.10B | 1.29B | 1.33B | 2.18B | 2.06B | 1.54B |
| Long-Term Debt | 3.66B | 2.98B | 3.35B | 2.54B | 3.05B | 2.91B |
| Long-Term Leases | 225.10M | 238.30M | 265.40M | 253.40M | 269.50M | 152.60M |
| Long-Term Unearned Revenue | 30.70M | 69.80M | 120.90M | 216.60M | 129.90M | |
| Pension & Post-Retirement Benefits | 55.00M | 57.50M | 66.50M | 66.50M | 118.40M | |
| Long-Term Deferred Tax Liabilities | 46.80M | 41.70M | 37.60M | 38.70M | 34.10M | 43.20M |
| Other Long-Term Liabilities | 184.80M | 159.20M | 113.20M | 113.20M | 164.40M | 250.10M |
| Total Liabilities | 6.25B | 4.83B | 5.28B | 5.41B | 5.77B | 5.02B |
| Common Stock | 6.30M | 6.20M | 6.20M | 6.20M | 6.10M | 6.00M |
| Additional Paid-In Capital | 5.63B | 5.54B | 5.37B | 5.21B | 4.67B | 4.63B |
| Retained Earnings | 8.44B | 8.24B | 8.12B | 6.55B | 4.36B | 2.44B |
| Treasury Stock | -6.79B | -6.06B | -4.64B | -3.94B | -2.83B | -2.45B |
| Comprehensive Income & Other | -67.10M | -55.50M | -62.40M | -45.20M | -23.20M | -40.60M |
| Total Common Equity | 7.22B | 7.67B | 8.80B | 7.78B | 6.19B | 4.59B |
| Minority Interest | 19.80M | 18.60M | 18.10M | 18.00M | 18.50M | 19.00M |
| Shareholders' Equity | 7.24B | 7.69B | 8.81B | 7.80B | 6.21B | 4.60B |
| Total Liabilities & Equity | 13.49B | 12.52B | 14.09B | 13.22B | 11.98B | 9.63B |
| Total Debt | 4.71B | 3.25B | 3.64B | 3.62B | 3.51B | 3.27B |
| Net Cash (Debt) | -844.50M | -705.60M | -651.80M | -1.14B | -561.20M | -1.92B |
| Net Cash Per Share | -2.09 | -1.71 | -1.51 | -2.55 | -1.25 | -4.33 |
| Filing Date Shares Outstanding | 389.31M | 394.02M | 421.42M | 427.33M | 431.97M | 432.50M |
| Total Common Shares Outstanding | 389.29M | 396.74M | 422.96M | 426.39M | 431.94M | 432.47M |
| Working Capital | 5.18B | 4.54B | 5.42B | 3.73B | 3.67B | 2.24B |
| Book Value Per Share | 18.54 | 19.34 | 20.80 | 18.25 | 14.33 | 10.60 |
| Tangible Book Value | 5.20B | 5.65B | 6.95B | 5.91B | 4.25B | 2.15B |
| Tangible Book Value Per Share | 13.36 | 14.24 | 16.43 | 13.85 | 9.84 | 4.98 |
| Land | 116.50M | 115.70M | 117.80M | 117.80M | 118.50M | |
| Buildings | 1.50B | 1.42B | 1.32B | 1.06B | 968.50M | |
| Machinery | 5.93B | 6.78B | 6.49B | 5.43B | 4.78B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 630.20M | 121.00M | 1.57B | 2.18B | 1.90B | 1.01B |
| Depreciation & Amortization | 652.90M | 686.00M | 642.90M | 609.50M | 551.80M | 596.70M |
| Other Amortization | 12.40M | 11.40M | 11.10M | 11.30M | 11.00M | 10.70M |
| Loss (Gain) From Sale of Assets | 5.20M | 800.00K | 5.50M | 12.30M | -99.60M | -10.20M |
| Asset Writedown & Restructuring Costs | 323.70M | 496.00M | 37.80M | 19.50M | 405.40M | 10.80M |
| Stock-Based Compensation | 150.70M | 144.30M | 136.10M | 121.10M | 100.80M | 101.30M |
| Other Operating Activities | -176.30M | -192.70M | -117.80M | -117.20M | 11.90M | 122.00M |
| Change in Accounts Receivable | -33.60M | 163.50M | -244.30M | -112.80M | -47.80M | -136.30M |
| Change in Inventory | 39.60M | 273.40M | -129.60M | -495.20M | -235.20M | -122.80M |
| Change in Accounts Payable | 37.90M | 136.90M | -62.50M | -91.70M | 38.20M | 70.70M |
| Change in Other Net Operating Assets | 29.30M | -80.80M | 54.40M | -163.00M | -5.60M | 129.50M |
| Operating Cash Flow | 1.67B | 1.76B | 1.91B | 1.98B | 2.63B | 1.78B |
| Capital Expenditures | -171.60M | -341.20M | -694.00M | -1.54B | -1.04B | -492.00M |
| Sale of Property, Plant & Equipment | 34.10M | 32.20M | 6.20M | 4.00M | 59.10M | 14.00M |
| Cash Acquisitions | -20.00M | -124.50M | -20.50M | -236.30M | -2.40M | -399.40M |
| Divestitures | 263.10M | 7.00M | ||||
| Investment in Securities | -50.00M | -100.00M | -300.00M | 33.50M | 10.80M | -44.70M |
| Other Investing Activities | -3.80M | -5.00M | -1.50M | |||
| Investing Cash Flow | -211.30M | -538.50M | -1.01B | -1.74B | -705.40M | -915.10M |
| Long-Term Debt Issued | 1.84B | 500.00M | 787.30M | |||
| Long-Term Debt Repaid | -376.70M | -2.20M | -1.74B | -541.50M | -1.27B | |
| Net Debt Issued (Repaid) | 1.10B | -376.70M | -2.20M | 106.30M | -41.50M | -483.20M |
| Issuance of Common Stock | 23.50M | 22.10M | 25.20M | 25.80M | 22.90M | 23.50M |
| Repurchase of Common Stock | -1.52B | -1.41B | -705.10M | -631.00M | -337.90M | -38.90M |
| Other Financing Activities | -73.90M | -2.50M | -1.70M | -187.60M | -13.50M | -70.80M |
| Financing Cash Flow | -468.00M | -1.76B | -683.80M | -686.50M | -370.00M | -569.40M |
| Foreign Exchange Rate Adjustments | -6.40M | -1.90M | -4.40M | -1.10M | -2.40M | -1.30M |
| Net Cash Flow | 986.30M | -544.40M | 208.40M | -448.00M | 1.56B | 296.20M |
| Free Cash Flow | 1.50B | 1.42B | 1.21B | 438.40M | 1.60B | 1.29B |
| Free Cash Flow Margin | 24.21% | 23.66% | 17.12% | 5.31% | 19.18% | 19.14% |
| Free Cash Flow Per Share | 3.72 | 3.44 | 2.80 | 0.98 | 3.56 | 2.91 |
| Levered Free Cash Flow | 1.66B | 1.56B | 863.02M | -372.70M | 1.50B | 902.09M |
| Unlevered Free Cash Flow | 1.68B | 1.59B | 890.86M | -337.25M | 1.55B | 972.89M |
| Cash Interest Paid | 47.60M | 58.30M | 62.70M | 73.20M | 80.70M | 96.90M |
| Cash Income Tax Paid | 178.50M | 167.60M | 347.50M | 428.20M | 443.20M | 88.20M |
| Change in Working Capital | 73.20M | 493.00M | -382.00M | -862.70M | -250.40M | -58.90M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 27.72B | 21.79B | 26.85B | 35.98B | 26.97B | 29.26B |
| Enterprise Value | 28.56B | 22.57B | 27.74B | 37.06B | 27.99B | 31.12B |
| Last Close Price | 71.67 | 54.15 | 63.05 | 83.53 | 62.37 | 67.92 |
| PE Ratio | 45.62 | 180.07 | 17.07 | 16.48 | 14.18 | 28.98 |
| Forward PE | 18.30 | 20.03 | 15.57 | 17.90 | 13.54 | 20.04 |
| PS Ratio | 4.60 | 3.63 | 3.79 | 4.36 | 3.24 | 4.34 |
| PB Ratio | 3.87 | 2.83 | 3.05 | 4.61 | 4.34 | 6.36 |
| P/TBV Ratio | 5.48 | 3.86 | 3.86 | 6.09 | 6.34 | 13.60 |
| P/FCF Ratio | 18.99 | 15.36 | 22.14 | 82.06 | 16.89 | 22.68 |
| P/OCF Ratio | 17.04 | 12.38 | 14.08 | 18.19 | 10.24 | 16.42 |
| PEG Ratio | 0.58 | 4.09 | 2.14 | 1.93 | 0.74 | 0.42 |
| EV/Sales Ratio | 4.73 | 3.77 | 3.92 | 4.49 | 3.36 | 4.62 |
| EV/EBITDA Ratio | 14.04 | 12.86 | 10.89 | 11.51 | 8.34 | 15.70 |
| EV/EBIT Ratio | 20.41 | 21.10 | 14.57 | 14.20 | 9.98 | 22.47 |
| EV/FCF Ratio | 19.55 | 15.91 | 22.88 | 84.53 | 17.52 | 24.12 |
| Debt / Equity Ratio | 0.65 | 0.42 | 0.41 | 0.47 | 0.57 | 0.71 |
| Debt / EBITDA Ratio | 2.15 | 1.77 | 1.40 | 1.11 | 1.03 | 1.61 |
| Debt / FCF Ratio | 3.14 | 2.29 | 3.00 | 8.27 | 2.20 | 2.54 |
| Net Debt / Equity Ratio | 0.12 | 0.09 | 0.07 | 0.15 | 0.09 | 0.42 |
| Net Debt / EBITDA Ratio | 0.40 | 0.40 | 0.26 | 0.35 | 0.17 | 0.97 |
| Net Debt / FCF Ratio | 0.56 | 0.50 | 0.54 | 2.60 | 0.35 | 1.49 |
| Asset Turnover | 0.47 | 0.45 | 0.52 | 0.66 | 0.77 | 0.74 |
| Inventory Turnover | 1.72 | 1.75 | 1.78 | 2.34 | 2.82 | 3.06 |
| Quick Ratio | 2.29 | 2.73 | 3.21 | 1.61 | 1.84 | 1.40 |
| Current Ratio | 3.46 | 4.52 | 5.06 | 2.71 | 2.78 | 2.45 |
| Return on Equity (ROE) | 8.31% | 1.50% | 18.95% | 31.21% | 35.22% | 24.78% |
| Return on Assets (ROA) | 6.75% | 5.02% | 8.72% | 12.95% | 16.22% | 9.46% |
| Return on Invested Capital (ROIC) | 15.60% | 11.27% | 17.73% | 28.63% | 34.00% | 19.14% |
| Return on Capital Employed (ROCE) | 12.60% | 9.50% | 14.90% | 23.70% | 28.30% | 17.10% |
| Earnings Yield | 2.19% | 0.56% | 5.86% | 6.07% | 7.05% | 3.45% |
| FCF Yield | 5.27% | 6.51% | 4.52% | 1.22% | 5.92% | 4.41% |
| Buyback Yield / Dilution | 4.88% | 4.83% | 3.16% | 0.31% | -0.99% | -5.97% |