ON Semiconductor Corp Stock Research

Market Summary

USD80.50+2.50

Delayed

3.21%

ON Alerts

1 major insider sales recently.
Big jump in Earnings (Y/Y)

ON Stock Price

ON RSI Chart

ON Valuation

Market Cap

34.8B

Price/Earnings (Trailing)

18.28

Price/Sales (Trailing)

4.18

EV/EBITDA

11.67

Price/Free Cashflow

21.36

ON Price/Sales (Trailing)

ON Profitability

Operating Margin

48.97%

EBT Margin

28.37%

Return on Equity

30.74%

Return on Assets

15.88%

Free Cashflow Yield

4.68%

ON Fundamentals

ON Revenue

Revenue (TTM)

8.3B

Revenue Y/Y

13.95%

Revenue Q/Q

-4.06%

ON Earnings

Earnings (TTM)

1.9B

Earnings Y/Y

41.89%

Earnings Q/Q

93.75%

Price Action

52 Week Range

44.7687.55

(Low)(High)

Last 7 days

-6.1%

Last 30 days

-7.6%

Last 90 days

21.4%

Trailing 12 Months

37.7%

ON Financial Health

Current Ratio

2.78

Debt/Equity

0.52

Debt/Cashflow

0.81

ON Investor Care

Buy Backs (1Y)

0.12%

Diluted EPS (TTM)

4.25

Peers (Alternatives to ON Semiconductor)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
NVDA	629.8B	27.0B	11.20%	5.54%	144.19	23.35	0.22%	-55.21%
AVGO	265.4B	34.4B	4.15%	7.21%	23.09	7.71	20.74%	70.65%
TXN	161.7B	20.0B	-1.31%	3.38%	18.48	8.07	9.18%	12.61%
AMD	155.7B	23.6B	7.88%	-17.97%	117.97	6.6	43.61%	-58.25%
INTC	124.9B	63.1B	-0.49%	-34.58%	15.58	1.98	-20.21%	-59.66%
FSLR	22.0B	2.6B	21.50%	171.10%	-498.6	8.41	-10.40%	-109.42%
LSCC	12.7B	660.4M	8.09%	61.41%	71.08	19.25	28.14%	86.49%
MID-CAP
AMKR	6.2B	7.1B	-10.56%	13.59%	8.04	0.87	15.53%	19.10%
POWI	4.8B	651.1M	-1.79%	-5.91%	28.27	7.42	-7.41%	3.92%
SMALL-CAP
ICHR	874.5M	1.3B	-18.13%	-13.35%	12.01	0.68	16.70%	2.69%
SGH	785.5M	1.8B	-10.38%	-36.92%	15.09	0.43	8.07%	32.37%
CEVA	710.2M	134.6M	-13.31%	-20.71%	-30.63	5.27	9.73%	-5954.29%
AOSL	709.2M	794.4M	-14.88%	-47.69%	8.96	0.89	9.29%	-82.10%
MX	398.4M	337.7M	-11.62%	-43.15%	-49.57	1.18	-28.80%	-114.17%

Financials for ON Semiconductor

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	3.2%	8,326	8,069	7,618	7,203	6,740
Gross Profit	4.8%	4,077	3,889	3,551	3,154	2,714
Operating Expenses	-2.0%	1,717	1,753	1,441	1,346	1,427
S&GA Expenses	1.4%	288	284	283	286	294
EBITDA	10.5%	3,009	2,723	2,707	2,391	-
EBITDA Margin	7.1%	0.36*	0.34*	0.36*	0.33*	-
Earnings Before Taxes	14.4%	2,362	2,065	2,031	1,689	1,158
EBT Margin	10.8%	0.28*	0.26*	0.27*	0.23*	-
Interest Expenses	-4.5%	95.00	99.00	108	119	130
Net Income	10.3%	1,902	1,724	1,722	1,450	1,010
Net Income Margin	6.9%	0.23*	0.21*	0.23*	0.20*	-
Free Cahsflow	-4.0%	1,628	1,696	1,320	1,501	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	7.9%	11,979	11,101	10,789	10,212	9,626
Current Assets	7.9%	5,729	5,309	4,785	4,367	3,782
Cash Equivalents	19.1%	2,919	2,450	1,792	1,645	1,353
Inventory	2.6%	1,617	1,575	1,563	1,496	1,380
Net PPE	24.9%	3,451	2,762	2,710	2,559	2,524
Goodwill	-1.4%	1,578	1,600	1,815	275	1,938
Liabilities	6.4%	5,772	5,424	5,379	5,194	5,022
Current Liabilities	17.1%	2,061	1,761	1,713	1,566	1,543
Long Term Debt	-0.1%	3,249	3,252	3,254	3,258	-
LT Debt, Current	-10.6%	148	165	165	170	161
LT Debt, Non Current	0.0%	3,046	3,047	3,047	3,035	2,914
Shareholder's Equity	9.4%	6,189	5,656	5,410	5,018	4,585
Retained Earnings	16.1%	4,364	3,760	3,448	2,992	2,435
Additional Paid-In Capital	1.6%	4,671	4,599	4,566	4,533	4,633
Shares Outstanding	-0.1%	432	432	433	434	432
Minority Interest	-10.2%	19.00	21.00	21.00	20.00	19.00

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	4.1%	2,633	2,528	1,975	2,042	1,782
Share Based Compensation	-2.8%	101	104	100	102	101
Cashflow From Investing	38.7%	-705	-1,151	-1,036	-967	-915
Cashflow From Financing	-26.8%	-370	-291	-213	-448	-569
Buy Backs	68.3%	260	154	0.00	0.00	-

Risks for ON

What is the probability of a big loss on ON?

75.4%

Probability that ON Semiconductor stock will be more than 20% underwater in next one year

48.5%

Probability that ON Semiconductor stock will be more than 30% underwater in next one year.

32.3%

Probability that ON Semiconductor stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does ON drawdown profile look like?

Y-axis is the maximum loss one would have experienced if ON Semiconductor was unfortunately bought at previous high price.

Drawdowns

Returns for ON

Cumulative Returns on ON

25.4%

10-Year Cumulative Returns

35.7%

7-Year Cumulative Returns

24.7%

5-Year Cumulative Returns

75.3%

3-Year Cumulative Returns

What are the long-term rolling returns for ON?

FIve years rolling returns for ON Semiconductor.

Annualized Returns

Which funds bought or sold ON recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	added	43.76	122,598	402,598	0.01%
2023-03-10	BAILLIE GIFFORD & CO	unchanged	-	179	34,179	-%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	38.14	8,386,300	30,319,300	0.03%
2023-03-06	Rockefeller Capital Management L.P.	added	17.19	116,000	791,000	-%
2023-03-01	SMITHBRIDGE ASSET MANAGEMENT INC/DE	new	-	3,259,000	3,259,000	0.87%
2023-02-28	Voya Investment Management LLC	reduced	-6.36	-1,762,760,000	512,009,000	0.72%
2023-02-27	Parallax Volatility Advisers, L.P.	new	-	898,066	898,066	-%
2023-02-24	National Pension Service	added	1.16	129,919	52,567,000	0.10%
2023-02-24	SRS Capital Advisors, Inc.	added	18.92	489	5,489	-%
2023-02-24	NATIXIS	added	414	18,831,300	23,375,300	0.13%

Latest Funds Activity

Are funds buying ON calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own ON

No. of Funds

ON Semiconductor News

Schedule 13G FIlings of ON Semiconductor

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	fmr llc	-	0	SC 13G/A
Feb 09, 2023	vanguard group inc	11.55%	49,935,983	SC 13G/A
Jan 23, 2023	blackrock inc.	10.0%	43,279,141	SC 13G/A
Sep 12, 2022	fmr llc	-	0	SC 13G/A
Jul 11, 2022	vanguard group inc	11.59%	50,340,515	SC 13G/A
Jul 08, 2022	blackrock inc.	10.4%	45,235,483	SC 13G
Feb 09, 2022	fmr llc	-	0	SC 13G/A
Feb 03, 2022	blackrock inc.	9.6%	41,259,697	SC 13G/A
Feb 12, 2021	spring creek capital llc	0%	0	SC 13G/A
Feb 10, 2021	vanguard group inc	8.91%	36,659,554	SC 13G/A

ON Fair Value

ON Semiconductor fair value in different scenarios

The table shows the Fair Value estimates for ON Semiconductor for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	37.63 -53.25%	56.91 -29.30%	85.30 5.96%	131.70 63.60%	159.58 98.24%
Current Inflation	35.11 -56.39%	51.89 -35.54%	76.15 -5.40%	115.49 43.47%	139.07 72.76%
Very High Inflation	31.95 -60.31%	45.79 -43.12%	65.28 -18.91%	96.60 20.00%	115.32 43.25%

Historical ON Semiconductor Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of ON Semiconductor

View All Filings

Date Filed	Form Type	Document
Mar 16, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	8-K	Current Report
Mar 02, 2023	8-K/A	Current Report
Mar 02, 2023	8-K	Current Report
Feb 24, 2023	8-K	Current Report
Feb 23, 2023	8-K	Current Report
Feb 22, 2023	4	Insider Trading

Latest Insider Trading transactions for ON

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-02	Tong Robert	sold (taxes)	-41,905	76.75	-546	svp & gm, asg
2023-03-02	KEETON SIMON	sold (taxes)	-335,321	76.75	-4,369	evp & gm, psg
2023-03-02	Jatou Ross	sold (taxes)	-69,919	76.75	-911	svp & gm, isg
2023-02-21	El-Khoury Hassane	acquired	-	-	84,511	ceo & president
2023-02-20	Thad Trent	acquired	-	-	30,273	exec vp & cfo
2023-02-20	Jatou Ross	acquired	-	-	10,091	svp & gm, isg
2023-02-20	Tong Robert	acquired	-	-	8,578	svp & gm, asg
2023-02-20	KEETON SIMON	acquired	-	-	22,705	evp & gm, psg
2023-02-20	COLPITTS BERNARD RAYMOND JR	acquired	-	-	3,785	chief accounting officer
2023-02-16	Thad Trent	sold (taxes)	-900,612	84.13	-10,705	exec vp & cfo

About ON Semiconductor

Hassane El-Khoury

www.onsemi.com

30000

ON Semiconductor Corporation provides intelligent sensing and power solutions worldwide. Its intelligent power technologies enable the electrification of the automotive industry that allows for lighter and longer-range electric vehicles, empowers fast-charging systems, and propels sustainable energy for the solar strings, industrial power, and storage systems. The company operates through three segments the Power Solutions Group, the Advanced Solutions Group, and the Intelligent Sensing Group segments. It offers analog, discrete, module, and integrated semiconductor products that perform multiple application functions, including power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage regulation functions. The company also designs and develops analog, mixed-signal, advanced logic, application specific standard product and ASICs, radio frequency, and integrated power solutions for end-users in end-markets, as well as provides foundry and design services for government customers. In addition, it develops complementary metal oxide semiconductor image sensors, image signal processors, and single photon detectors, including silicon photomultipliers and single photon avalanche diode arrays, as well as actuator drivers for autofocus and image stabilization for a broad base of end-users in various end-markets. ON Semiconductor Corporation was incorporated in 1992 and is headquartered in Phoenix, Arizona.

ON Income Statement

2022-09-30

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Income Statement [Abstract]
Revenue	$ 2,192.6	$ 1,742.1	$ 6,222.6	$ 4,893.7
Cost of revenue (exclusive of amortization shown below)	1,134.3	1,021.3	3,165.9	3,011.6
Gross profit	1,058.3	720.8	3,056.7	1,882.1
Operating expenses:
Research and development	145.4	154.5	463.8	494.4
Selling and marketing	69.5	68.4	213.7	223.4
General and administrative	84.9	75.7	246.0	221.3
Amortization of acquisition-related intangible assets	21.9	24.7	65.1	74.5
Restructuring, asset impairments and other, net	40.3	(1.7)	25.6	58.3
Goodwill and intangible asset impairment	271.8	0.0	386.8	2.9
Total operating expenses	633.8	321.6	1,401.0	1,074.8
Operating income	424.5	399.2	1,655.7	807.3
Other income (expense), net:
Interest expense	(23.7)	(31.9)	(67.4)	(98.4)
Interest income	4.9	0.5	6.4	1.1
Loss on debt refinancing and prepayment	0.0	0.0	(7.3)	(26.2)
Gain on divestiture of business	0.2	10.2	2.1	10.2
Other income (expense)	0.9	(5.8)	9.4	(2.4)
Other income (expense), net	(17.7)	(27.0)	(56.8)	(115.7)
Income before income taxes	406.8	372.2	1,598.9	691.6
Income tax provision	(94.9)	(61.8)	(299.4)	(106.8)
Net income	311.9	310.4	1,299.5	584.8
Less: Net income attributable to non-controlling interest	0.0	(0.7)	(1.6)	(1.1)
Net income attributable to ON Semiconductor Corporation	311.9	309.7	1,297.9	583.7
Net income for diluted earnings per share of common stock	$ 312.4	$ 309.7	$ 1,299.4	$ 583.7
Net income per share of common stock:
Basic (in dollars per share)	$ 0.72	$ 0.72	$ 2.99	$ 1.38
Diluted (in dollars per share)	$ 0.70	$ 0.70	$ 2.90	$ 1.32
Weighted-average shares of common stock outstanding:
Basic (in shares)	432.9	430.6	433.5	423.8
Diluted (in shares)	448.7	440.7	448.3	443.1
Comprehensive income, net of tax:
Net income	$ 311.9	$ 310.4	$ 1,299.5	$ 584.8
Foreign currency translation adjustments	(1.8)	(0.3)	(8.4)	(2.8)
Effects of cash flow hedges and other adjustments	7.7	3.9	25.6	11.8
Other comprehensive income, net of tax	5.9	3.6	17.2	9.0
Comprehensive income	317.8	314.0	1,316.7	593.8
Comprehensive income attributable to non-controlling interest	0.0	(0.7)	(1.6)	(1.1)
Comprehensive income attributable to ON Semiconductor Corporation	$ 317.8	$ 313.3	$ 1,315.1	$ 592.7

ON Balance Sheet

2022-09-30

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 2,450.2	$ 1,352.6
Receivables, net	857.3	809.4
Inventories	1,575.4	1,379.5
Assets held-for-sale	135.0	0.0
Other current assets	291.5	240.1
Total current assets	5,309.4	3,781.6
Property, plant and equipment, net	2,762.1	2,524.3
Goodwill	1,600.4	1,937.5
Intangible assets, net	373.8	495.7
Deferred tax assets	409.9	366.3
Other assets	645.1	520.6
Total assets	11,100.7	9,626.0
Liabilities, Non-Controlling Interest and Stockholders’ Equity
Accounts payable	791.7	635.1
Accrued expenses and other current liabilities	766.7	747.6
Liabilities held-for-sale	37.3	0.0
Current portion of long-term debt	165.3	160.7
Total current liabilities	1,761.0	1,543.4
Long-term debt	3,046.5	2,913.9
Deferred tax liabilities	30.5	43.2
Other long-term liabilities	586.1	521.1
Total liabilities	5,424.1	5,021.6
Commitments and contingencies
ON Semiconductor Corporation stockholders’ equity:
Common stock ($0.01 par value, 1,250,000,000 shares authorized, 606,766,278 and 603,044,079 issued, 432,406,805 and 432,472,818 outstanding, respectively)	6.1	6.0
Additional paid-in capital	4,598.8	4,633.3
Accumulated other comprehensive loss	(23.4)	(40.6)
Accumulated earnings	3,760.1	2,435.1
Less: Treasury stock, at cost: 174,359,473 and 170,571,261 shares, respectively	(2,685.6)	(2,448.4)
Total ON Semiconductor Corporation stockholders’ equity	5,656.0	4,585.4
Non-controlling interest	20.6	19.0
Total stockholders' equity	5,676.6	4,604.4
Total liabilities and stockholders' equity	$ 11,100.7	$ 9,626.0