(ON) ON Semiconductor - Overview
Stock: Power Semiconductors, Analog Ics, Image Sensors
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 51.4% |
| Relative Tail Risk | -7.65% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.59 |
| Alpha | -0.27 |
| Character TTM | |
|---|---|
| Beta | 1.926 |
| Beta Downside | 1.959 |
| Drawdowns 3y | |
|---|---|
| Max DD | 70.44% |
| CAGR/Max DD | -0.11 |
Description: ON ON Semiconductor December 19, 2025
ON Semiconductor (NASDAQ: ON) supplies intelligent sensing and power-management semiconductors across North America, Europe and Asia, organized into three operating groups: Power Solutions (discrete, module and integrated devices for switching, conditioning and protection), Analog & Mixed-Signal (power-management ICs, sensor interfaces and voltage-regulation products for automotive, industrial, computing and mobile markets) and Intelligent Sensing (CMOS image sensors, image-signal processors, single-photon detectors and actuator drivers for autofocus and stabilization).
Key recent metrics show the company generated roughly $9.5 billion of revenue in FY 2023, with a gross margin of about 38 % and R&D spending near 5 % of sales-both above the industry median, reflecting its focus on automotive-grade power solutions and advanced imaging. The firm’s growth is tightly linked to the electric-vehicle (EV) rollout and the broader shift toward higher-efficiency power electronics, which together drive a multi-year CAGR of ~12 % in its automotive power-management segment.
Given ON’s exposure to the accelerating EV market, its relatively high R&D intensity, and the ongoing global semiconductor supply constraints, analysts should monitor automotive order backlogs and inventory levels as leading indicators of near-term earnings momentum.
For a deeper quantitative dive, you might explore ON’s valuation metrics on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 6.0
| Net Income: 319.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA 3.74 > 1.0 |
| NWC/Revenue: 82.75% < 20% (prev 59.86%; Δ 22.90% < -1%) |
| CFO/TA 0.14 > 3% & CFO 1.78b > Net Income 319.1m |
| Net Debt (1.16b) to EBITDA (1.06b): 1.09 < 3 |
| Current Ratio: 5.23 > 1.5 & < 3 |
| Outstanding Shares: last quarter (408.0m) vs 12m ago -5.49% < -2% |
| Gross Margin: 35.75% > 18% (prev 0.46%; Δ 3529 % > 0.5%) |
| Asset Turnover: 45.95% > 50% (prev 52.99%; Δ -7.04% > 0%) |
| Interest Coverage Ratio: 6.18 > 6 (EBITDA TTM 1.06b / Interest Expense TTM 68.9m) |
Altman Z'' 6.47
| A: 0.39 (Total Current Assets 6.33b - Total Current Liabilities 1.21b) / Total Assets 13.01b |
| B: 0.62 (Retained Earnings 8.06b / Total Assets 13.01b) |
| C: 0.03 (EBIT TTM 425.6m / Avg Total Assets 13.47b) |
| D: 1.58 (Book Value of Equity 8.01b / Total Liabilities 5.08b) |
| Altman-Z'' Score: 6.47 = AAA |
Beneish M -2.85
| DSRI: 1.10 (Receivables 988.0m/1.07b, Revenue 6.19b/7.38b) |
| GMI: 1.28 (GM 35.75% / 45.80%) |
| AQI: 1.12 (AQ_t 0.24 / AQ_t-1 0.21) |
| SGI: 0.84 (Revenue 6.19b / 7.38b) |
| TATA: -0.11 (NI 319.1m - CFO 1.78b) / TA 13.01b) |
| Beneish M-Score: -2.85 (Cap -4..+1) = A |
What is the price of ON shares?
Over the past week, the price has changed by +8.87%, over one month by +5.57%, over three months by +33.61% and over the past year by +24.33%.
Is ON a buy, sell or hold?
- StrongBuy: 14
- Buy: 3
- Hold: 13
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the ON price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 63.5 | -2.6% |
| Analysts Target Price | 63.5 | -2.6% |
| ValueRay Target Price | 66.4 | 1.8% |
ON Fundamental Data Overview February 05, 2026
P/E Forward = 20.6186
P/S = 3.9279
P/B = 3.0249
P/EG = 1.8912
Revenue TTM = 6.19b USD
EBIT TTM = 425.6m USD
EBITDA TTM = 1.06b USD
Long Term Debt = 3.35b USD (from longTermDebt, last quarter)
Short Term Debt = 35.4m USD (from shortTermDebt, last quarter)
Debt = 3.63b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.16b USD (from netDebt column, last quarter)
Enterprise Value = 25.07b USD (24.31b + Debt 3.63b - CCE 2.87b)
Interest Coverage Ratio = 6.18 (Ebit TTM 425.6m / Interest Expense TTM 68.9m)
EV/FCF = 15.28x (Enterprise Value 25.07b / FCF TTM 1.64b)
FCF Yield = 6.54% (FCF TTM 1.64b / Enterprise Value 25.07b)
FCF Margin = 26.51% (FCF TTM 1.64b / Revenue TTM 6.19b)
Net Margin = 5.16% (Net Income TTM 319.1m / Revenue TTM 6.19b)
Gross Margin = 35.75% ((Revenue TTM 6.19b - Cost of Revenue TTM 3.98b) / Revenue TTM)
Gross Margin QoQ = 37.86% (prev 37.58%)
Tobins Q-Ratio = 1.93 (Enterprise Value 25.07b / Total Assets 13.01b)
Interest Expense / Debt = 0.49% (Interest Expense 17.7m / Debt 3.63b)
Taxrate = 6.48% (17.7m / 273.0m)
NOPAT = 398.0m (EBIT 425.6m * (1 - 6.48%))
Current Ratio = 5.23 (Total Current Assets 6.33b / Total Current Liabilities 1.21b)
Debt / Equity = 0.46 (Debt 3.63b / totalStockholderEquity, last quarter 7.91b)
Debt / EBITDA = 1.09 (Net Debt 1.16b / EBITDA 1.06b)
Debt / FCF = 0.71 (Net Debt 1.16b / FCF TTM 1.64b)
Total Stockholder Equity = 8.17b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.37% (Net Income 319.1m / Total Assets 13.01b)
RoE = 3.91% (Net Income TTM 319.1m / Total Stockholder Equity 8.17b)
RoCE = 3.69% (EBIT 425.6m / Capital Employed (Equity 8.17b + L.T.Debt 3.35b))
RoIC = 3.46% (NOPAT 398.0m / Invested Capital 11.52b)
WACC = 11.38% (E(24.31b)/V(27.94b) * Re(13.01%) + D(3.63b)/V(27.94b) * Rd(0.49%) * (1-Tc(0.06)))
Discount Rate = 13.01% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -3.65%
[DCF Debug] Terminal Value 67.88% ; FCFF base≈1.48b ; Y1≈1.57b ; Y5≈1.86b
Fair Price DCF = 45.43 (EV 19.44b - Net Debt 1.16b = Equity 18.28b / Shares 402.4m; r=11.38% [WACC]; 5y FCF grow 6.62% → 2.90% )
EPS Correlation: -83.92 | EPS CAGR: -48.16% | SUE: -4.0 | # QB: 0
Revenue Correlation: -76.73 | Revenue CAGR: -4.54% | SUE: 1.44 | # QB: 1
EPS next Quarter (2026-03-31): EPS=0.61 | Chg30d=+0.001 | Revisions Net=-4 | Analysts=29
EPS next Year (2026-12-31): EPS=2.93 | Chg30d=+0.016 | Revisions Net=+4 | Growth EPS=+25.1% | Growth Revenue=+5.5%