Stocks · Technology · Semiconductors
ON Semiconductor Corporation ON
$84.89 +6.01% Close, Oct 2, 2026 · NASDAQ · Market cap $33.05B
Next earnings report: Nov 2, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Diluted EPS over the last four quarters was $1.56, up 45.8% year over year.
- The shares trade at 54.4× trailing earnings, higher than 86% of the company's own readings over the past five years.
- Over the past year the stock returned +75.6%, ahead of the S&P 500 by 60.5 percentage points.
PromtFinance scores
Each score is a percentile within the Technology sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 12%
- EPS growth (TTM, YoY)Top 32%
- FCF growth (TTM, YoY)Top 35%
- Revenue growth, 3-year CAGRBottom 8%
- Revenue growth accelerationTop 18%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 45%
- Gross marginBottom 31%
- Operating marginTop 33%
- Cash conversion (OCF / net income)Top 27%
- Accruals (lower is better)Top 44%
- Net debt / EBITDA (lower is better)Bottom 46%
- Interest coverTop 27%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 41%
- Free-cash-flow yieldTop 33%
- EBITDA / enterprise valueTop 44%
- Sales / enterprise valueBottom 40%
- P/E vs own 5-year history (lower is better)Bottom 22%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 22%
- 6-month returnTop 39%
- 1-year return vs S&P 500Top 19%
- Distance from 52-week highBottom 39%
- Trend checklist (0–4)Top 44%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 35%
- Consecutive EPS beatsTop 41%
- Share of analysts rating BuyBottom 31%
- Upside to consensus price targetBottom 40%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 41%
- Maximum drawdown, 3 yearsBottom 39%
- Beta vs S&P 500 (lower is better)Bottom 30%
- Net debt / EBITDA (lower is better)Bottom 46%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | -9.0% | -3.1% | ↑ |
| EPS growth (YoY) | -2.1% | 45.8% | ↑ |
| Gross margin | 37.9% | 37.4% | ↓ |
| Operating margin | 7.4% | 11.7% | ↑ |
| FCF margin | 20.1% | 28.6% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | -3.1% | -9.0% | ↑ | Bottom 12% |
| EPS growth (TTM, YoY) | 45.8% | -2.1% | ↑ | Top 32% |
| Gross margin | 37.4% | 37.9% | ↓ | Bottom 31% |
| Operating margin | 11.7% | 7.4% | ↑ | Top 33% |
| Net margin | 10.2% | 7.3% | ↑ | — |
| Free-cash-flow margin | 28.6% | 20.1% | ↑ | — |
| Return on invested capital | 5.2% | — | Top 45% | |
| Revenue growth, 3-year CAGR | -10.4% | — | Bottom 8% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 2.65×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -7.7%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 2.4%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -0.1 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 0.76×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 11.8×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- 4.36%
- Shareholder yield
- 4.36%
- Share count change, 1 year
- -2.5%
- Share count change, 3-year CAGR
- -3.4%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jul 3, 2026 (filed Aug 3, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 4
- Beats in the last 8 reports
- 6 of 8
- Average EPS surprise, last 4
- +4.4%
- Average 2-day reaction, last 8
- -4.1%
- Positive 20 days after report
- 3 of 8
Analysts
- Consensus price target
- $99.50
- Target vs current price
- +17.2%
- Analysts with a rating
- 47
- Share rating Buy or Strong Buy
- 51%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 3, 2026 | +3.5% | -1.5% | -0.5% | -11.0% | — |
| May 4, 2026 | +4.9% | -1.0% | +0.2% | +17.4% | -23.5% |
| Feb 9, 2026 | +2.6% | -0.2% | +10.8% | -9.2% | +57.5% |
| Nov 3, 2025 | +6.8% | +0.8% | -4.5% | +0.7% | +24.2% |
| Aug 4, 2025 | -0.4% | -15.6% | -16.1% | -12.7% | -7.3% |
| May 5, 2025 | +9.6% | -8.4% | -2.2% | +1.5% | +38.5% |
| Feb 10, 2025 | -2.5% | -8.2% | +1.1% | -13.8% | -24.9% |
| Oct 28, 2024 | +2.1% | +1.4% | -0.4% | -2.3% | -23.5% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 3, 2026 | $0.74 | $0.72 | +3.5% | $1.60B |
| May 4, 2026 | $0.64 | $0.61 | +4.9% | $1.51B |
| Feb 9, 2026 | $0.64 | $0.62 | +2.6% | $1.53B |
| Nov 3, 2025 | $0.63 | $0.59 | +6.8% | $1.55B |
| Aug 4, 2025 | $0.53 | $0.53 | -0.4% | $1.47B |
| May 5, 2025 | $0.55 | $0.50 | +9.6% | $1.45B |
| Feb 10, 2025 | $0.95 | $0.97 | -2.5% | $1.72B |
| Oct 28, 2024 | $0.99 | $0.97 | +2.1% | $1.76B |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 54.4× | 19.1× | 86th | Top 41% |
| P/E (forward) | 26.5× | — | — | — |
| EV / EBITDA | 26.9× | — | — | Top 44% |
| EV / Sales | 5.49× | — | — | Bottom 40% |
| Free-cash-flow yield | 5.36% | — | — | Top 33% |
| Earnings yield | 1.84% | — | — | Top 41% |
P/E over the past five years
Range 13.0× – 191.5× since Jul 2, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +75.6%
- Earnings per share growth (TTM)
- +45.8%
- Change in P/E multiple
- +15.0%
Most of the move came from earnings growth.
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✓ Price above 50-day average
- ✓ Price above 200-day average
- ✗ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 2
- Days above the 200-day average
- 1
- 50-day average slope (20 days)
- -9.2%
- 200-day average slope (20 days)
- +2.9%
- Distance from 50-day average
- +10.8%
- Distance from 200-day average
- +5.5%
- RSI (14)
- 65.5
- Relative volume
- 1.97×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 55.5%
- Volatility vs own 5-year history
- 56th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.80
- Correlation with S&P 500
- 0.50
- Current drawdown from 1-year high
- -36.6%
- Maximum drawdown, 3 years
- -66.4%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Aug 1, 2023 | Apr 8, 2025 | -70.4% | 423 days | 275 days (May 13, 2026) |
| Jun 3, 2026 | Sep 16, 2026 | -50.3% | 72 days | Not yet recovered |
| Jan 4, 2022 | Jul 1, 2022 | -34.0% | 123 days | 29 days (Aug 12, 2022) |
| Aug 25, 2022 | Oct 14, 2022 | -24.7% | 35 days | 74 days (Feb 1, 2023) |
| Apr 5, 2021 | Jul 19, 2021 | -21.0% | 73 days | 11 days (Aug 3, 2021) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $33.05B
- P/E (TTM)
- 54.4
- EPS, diluted (TTM)
- $1.56
- Revenue (TTM)
- $6.20B
- 52-week range
- $44.56 – $134.92
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $6.74B | $8.33B | $8.25B | $7.08B | $6.00B |
| Gross profit | $2.71B | $4.08B | $3.88B | $3.22B | $1.98B |
| Operating income | $1.29B | $2.36B | $2.54B | $1.77B | $84.2M |
| Net income | $1.01B | $1.90B | $2.18B | $1.57B | $121.0M |
| EPS (diluted) | $2.27 | $4.25 | $4.89 | $3.63 | $0.29 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.76B | $1.72B | $1.45B | $1.47B | $1.55B | $1.53B | $1.51B | $1.60B |
| Net income | $401.7M | $379.9M | -$486.1M | $170.3M | $255.0M | $181.8M | -$33.4M | $226.8M |
| EPS (diluted) | $0.93 | $0.88 | -$1.15 | $0.41 | $0.63 | $0.45 | -$0.08 | $0.56 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $1.78B | $2.63B | $1.98B | $1.91B | $1.76B |
| Capital expenditure | -$492.0M | -$1.04B | -$1.54B | -$694.0M | -$341.2M |
| Free cash flow | $1.29B | $1.60B | $438.4M | $1.21B | $1.42B |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $117.3M | -$236.9M | -$295.9M | -$628.9M | -$1.36B |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $3.86B
- Total assets
- $13.49B
- Total liabilities
- $6.25B
- Total debt
- $4.48B
- Net debt
- $968.2M
- Shareholders’ equity
- $7.22B
As of Jul 3, 2026 (filed Aug 3, 2026).
Short interest
- Shares sold short
- 29,554,283
- Days to cover
- 3.04
- Change vs previous report
- -2.2%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Mar 11, 2014
- 10-for-1