FirmAtlas
Company handbook · ON · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
ON · CIK 1097864 · LATEST FILING: 10-Q JUL '26 · FILED AUG 3, 2026
ON SEMICONDUCTOR CORPORATION
$72.02
−1.68 (−2.28%)
Close, Oct 16, 2026 · 52-week $45–135
Last fiscal year
ON SEMICONDUCTOR CORPORATION reported revenue of $6.0B for the year ended Dec 31, 2025 (FY25), down 15.3% from FY24. Net income was $121M, operating cash flow $1.8B and free cash flow $1.4B. Source: 10-K filed Feb 9, 2026.
Market cap
$28.6B
P/E
45.3
EV/EBITDA
33.8x
P/B
4.0
ROIC
1.5%
Revenue 1Y
−15.3%/yr
EPS 1Y
−92.0%/yr
Shares 1Y
−6%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
HQScottsdale, AZ
AuditorPricewaterhouseCoopers LLP
Year endsDecember
Revenue by segment · FY25
Power Solutions Group47%
Analog Mixed Signal Group38%
Image Sensor Group15%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
20.0%
10.7%
−7.7%
36.0%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$3.2B deployed
Capex
$1.0B
32.2%
Acquisitions
$145M
4.5%
Buybacks
$2.0B
63.3%
Operating cash flow over the period: $3.7B. Total debt changed by $0M. R&D of $1.2B is already inside operating costs.
More cash than debt at the end of FY25.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jul '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
7,082
5,995−15.3%
6,198
YoY
−15.3%
Gross profit
3,216
1,984−38.3%
2,338
Gross margin
45.4%
33.1%−12.3 pp
—
Operating income
1,768
84−95.2%
670
Operating margin
25.0%
1.4%−23.6 pp
—
EBITDA
2,411
770−68.0%
—
EBITDA margin
34.0%
12.8%−21.2 pp
—
Interest expense
62
71+13.8%
—
Interest coverage
38.69x
10.86x−27.83x
—
Net income
1,573
121−92.3%
630
YoY
−92.3%
Net margin
22.2%
2.0%−20.2 pp
—
EPS (diluted, $)
3.63
0.29−92.0%
—
YoY
−92.0%
Balance sheet
Total assets
14,090
12,524−11.1%
13,485
Cash & short-term investments
2,993
2,549−14.8%
—
Accounts receivable
1,160
908−21.7%
—
Inventory
2,242
1,990−11.3%
—
Net PP&E
4,361
3,369−22.8%
—
Other assets
3,333
3,708+11.3%
—
Total liabilities
5,293
4,851−8.4%
6,266
Accounts payable
574
572−0.4%
—
Total debt
0.9
0.9+0.0%
2
Other liabilities
4,718
4,278−9.3%
—
Shareholders’ equity
8,796
7,673−12.8%
7,219
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,906
1,760−7.7%
1,672
Net income
1,575
124−92.2%
—
Depreciation & amortization
643
686+6.7%
—
Stock-based compensation
136
144+6.0%
—
Working capital & other
(447)
806n/m
—
Cash from investing
(1,010)
(538)n/m
—
Capex
(694)
(341)n/m
—
PP&E sold
6
32+419.4%
—
Acquisitions
(20)
(124)n/m
—
Investments bought
(1,050)
(1,050)n/m
—
Investments sold / matured
750
950+26.7%
—
Other investing
(2)
(5)n/m
—
Cash from financing
(684)
(1,764)n/m
—
Debt raised
0
0n/m
—
Debt repaid
0
(375)n/m
—
Buybacks
(654)
(1,378)n/m
—
Other financing
(30)
(11)n/m
—
Net change in cash
208
(544)−361.2%
—
Free cash flow (OCF − capex)
1,212
1,419+17.0%
1,500
Where the cash went
Operating cash flow
1,906
1,760−7.7%
1,672
Reinvested in the business
714
466−34.8%
—
% of operating cash flow
37.5%
26.5%
Capex
694
341−50.8%
172
Acquisitions
20
124+507.3%
—
R&D (memo, already in costs)
613
584−4.7%
—
Free cash flow
1,212
1,419+17.0%
1,500
YoY
+17.0%
Returned to shareholders
654
1,378+110.6%
—
% of free cash flow
54.0%
97.1%
Buybacks
654
1,378+110.6%
—
Change in total debt
—
0
—
Cash left over
—
(84)
—
FCF conversion (FCF ÷ net income)
77.1%
1172.4%+1095.3 pp
—
Owner earnings
—
968
—
Owner earnings margin
—
16.1%
—
Returns & ratios
ROIC (all capital)
26.1%
1.5%−24.7 pp
—
ROIC (operating)
21.1%
1.2%−19.8 pp
—
Net debt / EBITDA
−1.24x
−3.31x−2.07x
—
Debt / equity
0.00x
0.00x+0.00x
—
Cash conversion cycle (days)
217
184−33 d
—
ROE
17.9%
1.6%−16.3 pp
—
ROA
11.2%
1.0%−10.2 pp
—
ROCE
13.9%
0.7%−13.1 pp
—
NOPAT
1,515
79−94.8%
—
Invested capital (operating)
7,189
5,694−20.8%
—
Invested capital (all)
5,804
5,125−11.7%
—
Reinvestment rate
—
−1885.8%
—
Debtor days
60
55−5 d
—
Inventory days
212
181−31 d
—
Days payable
54
52−2 d
—
Income
Oct '25
Dec '25
Apr '26
Jul '26
Revenue
1,551
1,530
1,513
1,604
vs year-ago quarter
Gross profit
587
551
583
616
Gross margin
37.9%
36.0%
38.5%
38.4%
Operating income
264
200
(53)
259
Net income
255
182
(33)
227
vs year-ago quarter
Net margin
16.4%
11.9%
−2.2%
14.1%
EPS (diluted, $)
0.63
0.46
−0.08
0.56
vs year-ago quarter
Balance sheet
Oct '25
Dec '25
Apr '26
Jul '26
Total assets
13,010
12,524
12,011
13,485
Cash & equivalents
2,474
2,549
2,005
3,516
Total debt
0.9
0.9
2
2
Shareholders’ equity
7,905
7,673
7,302
7,219
Cash flow
Oct '25
Dec '25
Apr '26
Jul '26
Operating cash flow
419
554
239
460
Capex
46
69
22
34
Free cash flow
372
485
217
425
vs year-ago quarter