ON Semiconductor Corporation (ON) Financial Ratios
26 years of historical data (2000–2025) · Technology · Semiconductors
EV/EBITDA
↓
34.17
↑+156% vs avg
5yr avg: 13.37
30Y Low4.2·High16.9
P/FCF
↓
33.60
+2% vs avg
5yr avg: 32.84
30Y Low4.3·High168.8
P/B Ratio
↓
6.51
↑+49% vs avg
5yr avg: 4.37
30Y Low1.9·High77.8
ROE
↓
1.5%
↑-93% vs avg
5yr avg: 22.3%
30Y Low-120%·High35%
Debt/EBITDA
↑
2.42
↑+58% vs avg
5yr avg: 1.53
30Y Low1.1·High13.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ON Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
ON Semiconductor Corporation trades at 419.4x earnings, 689% above its 5-year average of 53.2x, sitting at the 100th percentile of its historical range. Compared to the Technology sector median P/E of 29.0x, the stock trades at a premium of 1346%. On a free-cash-flow basis, the stock trades at 33.6x P/FCF, roughly in line with the 5-year average of 32.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $47.7B | $22.3B | $27.3B | $37.3B | $28.0B | $30.1B | $13.7B | $10.1B | $7.2B | $9.0B | $5.4B |
| Enterprise Value | $49.0B | $23.6B | $28.0B | $38.2B | $28.3B | $31.9B | $16.1B | $12.9B | $8.9B | $11.0B | $8.0B |
| P/E Ratio → | 419.38 | 186.72 | 17.37 | 17.08 | 14.68 | 29.92 | 58.45 | 47.80 | 11.47 | 11.08 | 29.67 |
| P/S Ratio | 7.95 | 3.72 | 3.85 | 4.52 | 3.36 | 4.47 | 2.61 | 1.84 | 1.22 | 1.62 | 1.37 |
| P/B Ratio | 6.51 | 2.90 | 3.10 | 4.78 | 4.50 | 6.55 | 3.85 | 3.05 | 2.25 | 3.20 | 2.90 |
| P/FCF | 33.60 | 15.72 | 22.50 | 85.13 | 17.50 | 23.37 | 34.21 | 168.75 | 9.48 | 12.69 | 14.56 |
| P/OCF | 27.08 | 12.67 | 14.31 | 18.87 | 10.62 | 16.92 | 15.50 | 14.60 | 5.65 | 8.20 | 9.22 |
P/E links to full P/E history page with 30-year chart
ON EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
ON Semiconductor Corporation's enterprise value stands at 34.2x EBITDA, 156% above its 5-year average of 13.4x. The Technology sector median is 16.7x, placing the stock at a 104% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.94 | 3.95 | 4.63 | 3.39 | 4.73 | 3.07 | 2.33 | 1.51 | 1.98 | 2.04 |
| EV / EBITDA | 34.17 | 16.48 | 11.60 | 12.13 | 9.71 | 16.92 | 16.55 | 10.49 | 6.51 | 9.16 | 12.31 |
| EV / EBIT | 65.52 | 116.81 | 14.72 | 14.63 | 11.50 | 24.75 | 46.72 | 30.27 | 10.07 | 15.93 | 24.40 |
| EV / FCF | — | 16.65 | 23.06 | 87.13 | 17.70 | 24.72 | 40.22 | 213.98 | 11.71 | 15.52 | 21.60 |
ON Profitability
Margins and return-on-capital ratios measuring operating efficiency
ON Semiconductor Corporation earns an operating margin of 12.5%. Operating margins have compressed from 30.8% to 12.5% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 1.5% is modest. ROIC of 6.1% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.3% | 32.3% | 45.4% | 47.1% | 49.0% | 40.3% | 32.7% | 35.8% | 38.1% | 36.7% | 33.3% |
| Operating Margin | 12.5% | 12.5% | 25.0% | 30.8% | 28.3% | 19.1% | 6.6% | 11.5% | 14.6% | 12.9% | 7.2% |
| Net Profit Margin | 2.0% | 2.0% | 22.2% | 26.5% | 22.8% | 15.0% | 4.5% | 3.8% | 10.7% | 14.6% | 4.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 1.5% | 1.5% | 18.9% | 31.2% | 35.2% | 24.7% | 6.8% | 6.5% | 20.9% | 34.9% | 10.5% |
| ROA | 0.9% | 0.9% | 11.5% | 17.3% | 17.6% | 11.0% | 2.7% | 2.6% | 8.5% | 11.5% | 3.4% |
| ROIC | 6.1% | 6.1% | 14.6% | 25.1% | 27.5% | 15.7% | 4.4% | 8.7% | 13.3% | 11.6% | 6.2% |
| ROCE | 6.2% | 6.2% | 14.9% | 24.2% | 26.2% | 17.1% | 5.1% | 9.9% | 14.4% | 12.8% | 7.0% |
ON Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
ON Semiconductor Corporation carries a Debt/EBITDA ratio of 2.4x, which is manageable (18% below the sector average of 2.9x). Net debt stands at $1.3B ($3.5B total debt minus $2.1B cash). Interest coverage of just 2.9x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.45 | 0.45 | 0.38 | 0.43 | 0.52 | 0.67 | 0.98 | 1.09 | 0.87 | 1.05 | 1.96 |
| Debt / EBITDA | 2.42 | 2.42 | 1.40 | 1.07 | 1.11 | 1.64 | 3.59 | 2.95 | 2.02 | 2.47 | 5.60 |
| Net Debt / Equity | — | 0.17 | 0.08 | 0.11 | 0.05 | 0.38 | 0.68 | 0.82 | 0.53 | 0.71 | 1.41 |
| Net Debt / EBITDA | 0.92 | 0.92 | 0.28 | 0.28 | 0.11 | 0.93 | 2.48 | 2.22 | 1.24 | 1.67 | 4.01 |
| Debt / FCF | — | 0.93 | 0.56 | 2.00 | 0.20 | 1.35 | 6.02 | 45.23 | 2.23 | 2.83 | 7.05 |
| Interest Coverage | 2.85 | 2.85 | 30.49 | 34.90 | 25.89 | 9.88 | 2.05 | 2.87 | 6.89 | 4.88 | 2.24 |
ON Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
ON Semiconductor Corporation's current ratio of 4.52x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 2.98x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 2.71x to 4.52x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.52 | 4.52 | 5.06 | 2.71 | 2.78 | 2.45 | 1.89 | 1.66 | 2.16 | 2.08 | 1.91 |
| Quick Ratio | 2.98 | 2.98 | 3.38 | 1.74 | 2.00 | 1.56 | 1.15 | 0.98 | 1.32 | 1.31 | 1.22 |
| Cash Ratio | 1.98 | 1.98 | 2.24 | 1.14 | 1.42 | 0.88 | 0.64 | 0.49 | 0.73 | 0.67 | 0.68 |
| Asset Turnover | — | 0.48 | 0.50 | 0.62 | 0.70 | 0.70 | 0.61 | 0.65 | 0.77 | 0.77 | 0.56 |
| Inventory Turnover | 2.04 | 2.04 | 1.72 | 2.07 | 2.63 | 2.92 | 2.83 | 2.88 | 2.97 | 3.22 | 2.53 |
| Days Sales Outstanding | — | 58.16 | 59.79 | 41.37 | 36.92 | 43.83 | 46.95 | 46.63 | 42.60 | 46.19 | 58.84 |
ON Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
ON Semiconductor Corporation returns 2.9% to shareholders annually primarily through share buybacks. The earnings yield of 0.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.2% | 0.5% | 5.8% | 5.9% | 6.8% | 3.3% | 1.7% | 2.1% | 8.7% | 9.0% | 3.4% |
| FCF Yield | 3.0% | 6.4% | 4.4% | 1.2% | 5.7% | 4.3% | 2.9% | 0.6% | 10.6% | 7.9% | 6.9% |
| Buyback Yield | 2.9% | 6.2% | 2.4% | 1.5% | 0.9% | 0.0% | 0.5% | 1.4% | 4.4% | 0.3% | 0.0% |
| Total Shareholder Yield | 2.9% | 6.2% | 2.4% | 1.5% | 0.9% | 0.0% | 0.5% | 1.4% | 4.4% | 0.3% | 0.0% |
| Shares Outstanding | — | $412M | $433M | $447M | $448M | $444M | $419M | $416M | $436M | $428M | $420M |
Peer Comparison
Compare ON with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ONYou | $48B | 419.4 | 34.2 | 33.6 | 32.3% | 12.5% | 1.5% | 6.1% | 2.4 |
 STM | $70B | 435.5 | 171.9 | — | 33.9% | 2.7% | 0.9% | 1.3% | 5.3 |
 WOLF | $3B | -1.7 | — | — | -16.1% | -175.4% | -739.9% | -17.1% | — |
 DIOD | $5B | 83.5 | 29.1 | 40.0 | 31.2% | 2.4% | 3.5% | 1.6% | 0.5 |
 MPWR | $77B | 122.6 | 97.1 | 115.3 | 55.2% | 26.1% | 18.4% | 22.2% | 0.0 |
 POWI | $5B | 223.4 | 96.9 | 55.7 | 54.5% | 4.8% | 3.1% | 2.4% | — |
 TXN | $294B | 59.2 | 38.2 | 112.9 | 57.0% | 34.1% | 30.1% | 15.8% | 1.9 |
 NXPI | $79B | 39.4 | 21.3 | 32.6 | 54.4% | 27.0% | 20.2% | 13.5% | 3.0 |
 MCHP | $54B | -9999.0 | 56.3 | 69.9 | 56.1% | 6.7% | -0.0% | 1.8% | 5.4 |
 ADI | $212B | 95.3 | 44.2 | 49.5 | 61.5% | 26.6% | 6.6% | 5.4% | 1.8 |
 SWKS | $11B | 23.5 | 11.4 | 9.9 | 41.2% | 12.2% | 7.9% | 6.3% | 1.2 |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 26 years · Updated daily
Consensus-Based Analysis Tools
Full Stock Analysis
Deep dive into ON consensus models and risk factors.
View Analysis
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
ON — Frequently Asked Questions
Quick answers to the most common questions about buying ON stock.
What is ON Semiconductor Corporation's P/E ratio?
ON Semiconductor Corporation's current P/E ratio is 419.4x. The historical average is 33.2x. This places it at the 100th percentile of its historical range.
What is ON Semiconductor Corporation's EV/EBITDA?
ON Semiconductor Corporation's current EV/EBITDA is 34.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.2x.
What is ON Semiconductor Corporation's ROE?
ON Semiconductor Corporation's return on equity (ROE) is 1.5%. The historical average is 8.0%.
Is ON stock overvalued?
Based on historical data, ON Semiconductor Corporation is trading at a P/E of 419.4x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are ON Semiconductor Corporation's profit margins?
ON Semiconductor Corporation has 32.3% gross margin and 12.5% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does ON Semiconductor Corporation have?
ON Semiconductor Corporation's Debt/EBITDA ratio is 2.4x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.