ON
ON Semiconductor Corporation
Semiconductors
Market Cap$41.45B
5Y Perf.+510.0%
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Stock Comparison
ON vs POWI
Revenue, margins, valuation, and 5-year total return — side by side.
POWI
Power Integrations, Inc.
Semiconductors
Market Cap$4.36B
5Y Perf.+32.6%
ON vs POWI — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ON | POWI |
|---|---|---|
| Industry | Semiconductors | Semiconductors |
| Market Cap | $41.45B | $4.36B |
| Revenue (TTM) | $6.06B | $444M |
| Net Income (TTM) | $574M | $22M |
| Gross Margin | 37.2% | 54.5% |
| Operating Margin | 10.8% | 5.8% |
| Forward P/E | 34.4x | 55.5x |
| Total Debt | $3.47B | $0.00 |
| Cash & Equiv. | $2.15B | $59M |
ON vs POWI — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
ON
POWI
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| ON Semiconductor Co… (ON) | 100 | 610.0 | +510.0% |
| Power Integrations,… (POWI) | 100 | 132.6 | +32.6% |
Price return only. Dividends and distributions are not included.
Quick Verdict: ON vs POWI
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: ON leads in 5 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. Power Integrations, Inc. is the stronger pick specifically for growth and revenue expansion and dividend income and shareholder returns. As sector peers, any of these can serve as alternatives in the same allocation.
ON
ON Semiconductor Corporation
The Income Pick
ON carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- Dividend streak 0 yrs, beta 1.95
- 10.2% 10Y total return vs POWI's 264.8%
- Lower volatility, beta 1.95, Low D/E 45.1%, current ratio 4.52x
Best for: income & stability and long-term compounding
POWI
Power Integrations, Inc.
The Growth Play
POWI is the clearest fit if your priority is growth exposure.
- Rev growth 5.9%, EPS growth -30.4%, 3Y rev CAGR -12.0%
- 5.9% revenue growth vs ON's -15.3%
- 1.1% yield; 18-year raise streak; the other pay no meaningful dividend
Best for: growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | POWI | 5.9% revenue growth vs ON's -15.3% |
| Value | ON | Lower P/E (34.4x vs 55.5x) |
| Quality / Margins | ON | 9.5% margin vs POWI's 5.0% |
| Stability / Safety | ON | Beta 1.95 vs POWI's 2.08 |
| Dividends | POWI | 1.1% yield; 18-year raise streak; the other pay no meaningful dividend |
| Momentum (1Y) | ON | +174.7% vs POWI's +57.8% |
| Efficiency (ROA) | ON | 4.5% ROA vs POWI's 2.8%, ROIC 6.1% vs 2.4% |
ON vs POWI — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
Segment breakdown not available.
ON vs POWI — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLONLAGGINGPOWI
POWIPower Integrations, I…
1leads
ONON Semiconductor Corp…
5leads
6 Total Categories
CATEGORYLEADERvs POWIMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
ON5/6
Valuation MetricsMultiples, price ratios, and targets
ON5/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
ON4/7
Total Returns1Y, 3Y, 5Y total returns with dividends
ON5/6
Risk & VolatilityBeta, volatility, and downside exposure
ON2/2
Analyst OutlookRatings, price targets, and dividends
POWI1/1
Income & Cash Flow (Last 12 Months)
ON leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
ON is the larger business by revenue, generating $6.1B annually — 13.7x POWI's $444M. Profitability is closely matched — net margins range from 9.5% (ON) to 5.0% (POWI). On growth, ON holds the edge at +4.7% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ONON Semiconductor … | POWIPower Integration… |
|---|---|---|
| RevenueTrailing 12 months | $6.1B | $444M |
| EBITDAEarnings before interest/tax | $1.2B | $54M |
| Net IncomeAfter-tax profit | $574M | $22M |
| Free Cash FlowCash after capex | $1.5B | $87M |
| Gross MarginGross profit ÷ Revenue | +37.2% | +54.5% |
| Operating MarginEBIT ÷ Revenue | +10.8% | +5.8% |
| Net MarginNet income ÷ Revenue | +9.5% | +5.0% |
| FCF MarginFCF ÷ Revenue | +24.0% | +19.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +4.7% | -1.9% |
| EPS Growth (YoY)Latest quarter vs prior year | +93.0% | +50.0% |
ON leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
ON leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
At 200.6x trailing earnings, POWI trades at a 45% valuation discount to ON's 364.7x P/E. On an enterprise value basis, ON's 29.8x EV/EBITDA is more attractive than POWI's 86.9x.
| Metric | ONON Semiconductor … | POWIPower Integration… |
|---|---|---|
| Market CapShares × price | $41.5B | $4.4B |
| Enterprise ValueMkt cap + debt − cash | $42.8B | $4.3B |
| Trailing P/EPrice ÷ TTM EPS | 364.72x | 200.59x |
| Forward P/EPrice ÷ next-FY EPS est. | 34.37x | 55.51x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 29.84x | 86.90x |
| Price / SalesMarket cap ÷ Revenue | 6.91x | 9.83x |
| Price / BookPrice ÷ Book value/share | 5.66x | 6.55x |
| Price / FCFMarket cap ÷ FCF | 29.22x | 50.02x |
ON leads this category, winning 5 of 6 comparable metrics.
Profitability & Efficiency
ON leads this category, winning 4 of 7 comparable metrics.
Profitability & Efficiency
ON delivers a 7.4% return on equity — every $100 of shareholder capital generates $7 in annual profit, vs $3 for POWI. On the Piotroski fundamental quality scale (0–9), POWI scores 6/9 vs ON's 4/9, reflecting solid financial health.
| Metric | ONON Semiconductor … | POWIPower Integration… |
|---|---|---|
| ROE (TTM)Return on equity | +7.4% | +3.2% |
| ROA (TTM)Return on assets | +4.5% | +2.8% |
| ROICReturn on invested capital | +6.1% | +2.4% |
| ROCEReturn on capital employed | +6.2% | +2.9% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 6 |
| Debt / EquityFinancial leverage | 0.45x | — |
| Net DebtTotal debt minus cash | $1.3B | -$59M |
| Cash & Equiv.Liquid assets | $2.1B | $59M |
| Total DebtShort + long-term debt | $3.5B | $0 |
| Interest CoverageEBIT ÷ Interest expense | 10.49x | — |
ON leads this category, winning 4 of 7 comparable metrics.
Total Returns (Dividends Reinvested)
ON leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in ON five years ago would be worth $28,138 today (with dividends reinvested), compared to $10,143 for POWI. Over the past 12 months, ON leads with a +174.7% total return vs POWI's +57.8%. The 3-year compound annual growth rate (CAGR) favors ON at 9.5% vs POWI's 0.6% — a key indicator of consistent wealth creation.
| Metric | ONON Semiconductor … | POWIPower Integration… |
|---|---|---|
| YTD ReturnYear-to-date | +86.5% | +110.3% |
| 1-Year ReturnPast 12 months | +174.7% | +57.8% |
| 3-Year ReturnCumulative with dividends | +31.4% | +1.7% |
| 5-Year ReturnCumulative with dividends | +181.4% | +1.4% |
| 10-Year ReturnCumulative with dividends | +1024.0% | +264.8% |
| CAGR (3Y)Annualised 3-year return | +9.5% | +0.6% |
ON leads this category, winning 5 of 6 comparable metrics.
Risk & Volatility
ON leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
ON is the less volatile stock with a 1.95 beta — it tends to amplify market swings less than POWI's 2.08 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | ONON Semiconductor … | POWIPower Integration… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.95x | 2.08x |
| 52-Week HighHighest price in past year | $105.88 | $78.94 |
| 52-Week LowLowest price in past year | $37.19 | $30.86 |
| % of 52W HighCurrent price vs 52-week peak | +99.9% | +99.1% |
| RSI (14)Momentum oscillator 0–100 | 79.6 | 75.1 |
| Avg Volume (50D)Average daily shares traded | 9.0M | 948K |
ON leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
POWI leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates ON as "Buy" and POWI as "Buy". Consensus price targets imply 1.0% upside for POWI (target: $79) vs -41.0% for ON (target: $62). POWI is the only dividend payer here at 1.07% yield — a key consideration for income-focused portfolios.
| Metric | ONON Semiconductor … | POWIPower Integration… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $62.40 | $79.00 |
| # AnalystsCovering analysts | 45 | 16 |
| Dividend YieldAnnual dividend ÷ price | — | +1.1% |
| Dividend StreakConsecutive years of raises | 0 | 18 |
| Dividend / ShareAnnual DPS | — | $0.84 |
| Buyback YieldShare repurchases ÷ mkt cap | +3.3% | +2.3% |
POWI leads this category, winning 1 of 1 comparable metric.
Key Takeaway
ON leads in 5 of 6 categories (Income & Cash Flow, Valuation Metrics). POWI leads in 1 (Analyst Outlook).
Best OverallON Semiconductor Corporation (ON)Leads 5 of 6 categories
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ON vs POWI: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is ON or POWI a better buy right now?
For growth investors, Power Integrations, Inc.
(POWI) is the stronger pick with 5. 9% revenue growth year-over-year, versus -15. 3% for ON Semiconductor Corporation (ON). Power Integrations, Inc. (POWI) offers the better valuation at 200. 6x trailing P/E (55. 5x forward), making it the more compelling value choice. Analysts rate ON Semiconductor Corporation (ON) a "Buy" — based on 45 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — ON or POWI?
On trailing P/E, Power Integrations, Inc.
(POWI) is the cheapest at 200. 6x versus ON Semiconductor Corporation at 364. 7x. On forward P/E, ON Semiconductor Corporation is actually cheaper at 34. 4x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — ON or POWI?
Over the past 5 years, ON Semiconductor Corporation (ON) delivered a total return of +181.
4%, compared to +1. 4% for Power Integrations, Inc. (POWI). Over 10 years, the gap is even starker: ON returned +1004% versus POWI's +232. 7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — ON or POWI?
By beta (market sensitivity over 5 years), ON Semiconductor Corporation (ON) is the lower-risk stock at 1.
95β versus Power Integrations, Inc. 's 2. 08β — meaning POWI is approximately 7% more volatile than ON relative to the S&P 500.
05Which is growing faster — ON or POWI?
By revenue growth (latest reported year), Power Integrations, Inc.
(POWI) is pulling ahead at 5. 9% versus -15. 3% for ON Semiconductor Corporation (ON). On earnings-per-share growth, the picture is similar: Power Integrations, Inc. grew EPS -30. 4% year-over-year, compared to -92. 0% for ON Semiconductor Corporation. Over a 3-year CAGR, ON leads at -10. 4% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — ON or POWI?
Power Integrations, Inc.
(POWI) is the more profitable company, earning 5. 0% net margin versus 2. 0% for ON Semiconductor Corporation — meaning it keeps 5. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ON leads at 12. 5% versus 4. 8% for POWI. At the gross margin level — before operating expenses — POWI leads at 54. 5%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is ON or POWI more undervalued right now?
On forward earnings alone, ON Semiconductor Corporation (ON) trades at 34.
4x forward P/E versus 55. 5x for Power Integrations, Inc. — 21. 1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for POWI: 1. 0% to $79. 00.
08Which pays a better dividend — ON or POWI?
In this comparison, POWI (1.
1% yield) pays a dividend. ON does not pay a meaningful dividend and should not be held primarily for income.
09Is ON or POWI better for a retirement portfolio?
For long-horizon retirement investors, ON Semiconductor Corporation (ON) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (+1004% 10Y return).
Power Integrations, Inc. (POWI) carries a higher beta of 2. 08 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (ON: +1004%, POWI: +232. 7%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between ON and POWI?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
POWI pays a dividend while ON does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(ON: 4.7% · POWI: -1.9%)Net Margin>
%
(ON: 9.5% · POWI: 5.0%)P/E Ratio<
x
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