15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 2.7% per year over the past 5 years.
Net income has grown slower than revenue (-12.4% vs 2.7% per year).
Operating margin has contracted, at 1.4% in the latest year.
Free cash flow has grown 23.2% per year over the past 5 years.
Financial health
Total debt ($3.0B) exceeds cash ($2.1B); net debt is $833M.
Total debt has grown slower than revenue (-3.7% vs 2.7% per year).
Operating income covered interest expense 1.2× in the latest year.
Total debt is 3.9× EBITDA.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$6.0B
$121M
33.1%
1.4%
$1.4B
$3.0B
$2.1B
2024
$7.1B
$1.6B
45.4%
25.0%
$1.2B
$3.3B
$2.7B
2023
$8.3B
$2.2B
47.1%
30.8%
$438M
$3.4B
$2.5B
2022
$8.3B
$1.9B
49.0%
28.3%
$1.6B
$3.2B
$2.9B
2021
$6.7B
$1.0B
40.3%
19.1%
$1.3B
$3.3B
$1.4B
2020
$5.3B
$234M
32.7%
6.6%
$501M
$3.6B
$1.1B
2019
$5.5B
$212M
35.8%
7.8%
$160M
$3.7B
$894M
2018
$5.9B
$627M
38.1%
14.4%
$759M
$2.9B
$1.1B
2017
$5.5B
$811M
36.7%
12.3%
$707M
$3.2B
$949M
2016
$3.9B
$182M
33.3%
6.3%
$370M
$3.8B
$1.0B
2015
—
$206M
—
—
$200M
$1.5B
$618M
2014
—
$190M
—
—
$277M
$1.2B
$512M
2013
—
$150M
—
—
$172M
$942M
$510M
2012
—
-$97M
—
—
$20M
$1.0B
$487M
2011
—
$12M
—
—
$229M
$1.2B
$653M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Apr '26
$1.5B
-$33M
38.5%
-3.5%
$217M
$3.0B
$2.0B
Dec '25
$1.5B
$182M
36.0%
13.1%
$485M
$3.0B
$2.1B
Oct '25
$1.6B
$255M
37.9%
17.0%
$372M
$3.4B
$2.5B
Jul '25
$1.5B
$170M
37.6%
13.2%
$106M
$3.4B
$2.5B
Apr '25
$1.4B
-$486M
20.3%
-39.7%
$455M
$3.4B
$2.8B
Dec '24
$1.7B
$380M
45.2%
23.7%
$422M
$3.3B
$2.7B
Sep '24
$1.8B
$402M
45.4%
25.3%
$304M
$3.4B
$2.5B
Jun '24
$1.7B
$338M
45.2%
22.4%
$221M
$3.4B
$2.2B
Mar '24
$1.9B
$453M
45.8%
28.2%
$265M
$3.4B
$2.6B
Dec '23
$2.0B
$563M
46.7%
30.3%
$257M
$3.4B
$2.5B
Sep '23
$2.2B
$583M
47.3%
31.5%
$134M
$3.5B
$2.7B
Jun '23
$2.1B
$577M
47.4%
32.2%
-$40M
$3.5B
$2.6B
Mar '23
$2.0B
$462M
46.8%
28.8%
$87M
$3.5B
$2.7B
Dec '22
$2.1B
$604M
48.5%
33.5%
$389M
$3.2B
$2.9B
Sep '22
$2.2B
$312M
48.3%
19.4%
$731M
$3.2B
$2.5B
Jul '22
$2.1B
$456M
49.7%
28.0%
$203M
$3.3B
$1.8B
Apr '22
$1.9B
$530M
49.4%
33.3%
$305M
$3.3B
$1.6B
Dec '21
$1.8B
$426M
45.1%
26.0%
$457M
$3.3B
$1.4B
Oct '21
$1.7B
$310M
41.4%
22.9%
$356M
$3.3B
$1.4B
Jul '21
$1.7B
$184M
38.3%
16.9%
$383M
$3.3B
$1.1B
Valuation over time
How the market has priced ON against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 17.0× (Mar '23) to 354.6× (Jun '26).
The price-to-sales ratio has risen from 3.9× (Mar '23) to 7.2× (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is ON growing its revenue and profit?
Over the past 5 years, ON Semiconductor's revenue has grown 2.7% per year, and net income declined 12.4% per year. These are computed facts, not advice.
How much debt does ON have?
As of FY2025, ON Semiconductor reported $3.0B of total debt against $2.1B of cash; operating income covered interest expense 1.2×.
What is ON's profit margin?
In FY2025, gross margin was 33.1%, operating margin 1.4%, and net margin 2.0%.
What is ON's P/E ratio?
As of Jun '26, ON Semiconductor traded at a price-to-earnings ratio of about 354.6× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.