ON Financials ON Semiconductor

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 Nov 3, 2026, 11:07 UTC 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

Return on equity & assets (ROE / ROA)

ROEROA

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	ROE	ROA	FCF	Total debt	Cash
2025	$6.0B	$121M	33.1%	1.4%	1.6%	1.0%	$1.4B	$3.0B	$2.1B
2024	$7.1B	$1.6B	45.4%	25.0%	17.9%	11.2%	$1.2B	$3.3B	$2.7B
2023	$8.3B	$2.2B	47.1%	30.8%	28.1%	16.5%	$438M	$3.4B	$2.5B
2022	$8.3B	$1.9B	49.0%	28.3%	30.7%	15.9%	$1.6B	$3.2B	$2.9B
2021	$6.7B	$1.0B	40.3%	19.1%	22.0%	10.5%	$1.3B	$3.3B	$1.4B
2020	$5.3B	$234M	32.7%	6.6%	6.6%	2.7%	$501M	$3.6B	$1.1B
2019	$5.5B	$212M	35.8%	7.8%	6.4%	2.5%	$160M	$3.7B	$894M
2018	$5.9B	$627M	38.1%	14.4%	19.8%	8.3%	$759M	$2.9B	$1.1B
2017	$5.5B	$811M	36.7%	12.3%	29.2%	11.3%	$707M	$3.2B	$949M
2016	$3.9B	$182M	33.3%	6.3%	10.0%	2.6%	$370M	$3.8B	$1.0B
2015	—	$206M	—	—	12.8%	5.3%	$200M	$1.5B	$618M
2014	—	$190M	—	—	11.7%	5.0%	$277M	$1.2B	$512M
2013	—	$150M	—	—	10.1%	4.6%	$172M	$942M	$510M
2012	—	-$97M	—	—	-7.1%	-2.9%	$20M	$1.0B	$487M
2011	—	$12M	—	—	0.8%	0.3%	$229M	$1.2B	$653M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

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	ROE	ROA	FCF	Total debt	Cash
Oct '26	$1.7B	$314M	41.4%	22.0%	4.2%	2.3%	$489M	$4.5B	$4.2B
Jul '26	$1.6B	$227M	38.4%	16.1%	3.1%	1.7%	$425M	$4.5B	$3.5B
Apr '26	$1.5B	-$33M	38.5%	-3.5%	-0.5%	-0.3%	$217M	$3.0B	$2.0B
Dec '25	$1.5B	$182M	36.0%	13.1%	2.4%	1.5%	$485M	$3.0B	$2.1B
Oct '25	$1.6B	$255M	37.9%	17.0%	3.2%	2.0%	$372M	$3.4B	$2.5B
Jul '25	$1.5B	$170M	37.6%	13.2%	2.1%	1.3%	$106M	$3.4B	$2.5B
Apr '25	$1.4B	-$486M	20.3%	-39.7%	-6.1%	-3.7%	$455M	$3.4B	$2.8B
Dec '24	$1.7B	$380M	45.2%	23.7%	4.3%	2.7%	$422M	$3.3B	$2.7B
Sep '24	$1.8B	$402M	45.4%	25.3%	4.7%	2.9%	$304M	$3.4B	$2.5B
Jun '24	$1.7B	$338M	45.2%	22.4%	4.1%	2.5%	$221M	$3.4B	$2.2B
Mar '24	$1.9B	$453M	45.8%	28.2%	5.6%	3.4%	$265M	$3.4B	$2.6B
Dec '23	$2.0B	$563M	46.7%	30.3%	7.2%	4.3%	$257M	$3.4B	$2.5B
Sep '23	$2.2B	$583M	47.3%	31.5%	7.8%	4.4%	$134M	$3.5B	$2.7B
Jun '23	$2.1B	$577M	47.4%	32.2%	8.3%	4.5%	-$40M	$3.5B	$2.6B
Mar '23	$2.0B	$462M	46.8%	28.8%	7.2%	3.8%	$87M	$3.5B	$2.7B
Dec '22	$2.1B	$604M	48.5%	33.5%	9.8%	5.0%	$389M	$3.2B	$2.9B
Sep '22	$2.2B	$312M	48.3%	19.4%	5.5%	2.8%	$731M	$3.2B	$2.5B
Jul '22	$2.1B	$456M	49.7%	28.0%	8.5%	4.2%	$203M	$3.3B	$1.8B
Apr '22	$1.9B	$530M	49.4%	33.3%	10.6%	5.2%	$305M	$3.3B	$1.6B
Dec '21	$1.8B	$426M	45.1%	26.0%	9.3%	4.4%	$457M	$3.3B	$1.4B

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 16.8× (Mar '23) to 219.9× (Nov '26).
The price-to-sales ratio has risen from 3.8× (Mar '23) to 4.4× (Nov '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?

ON Semiconductor's P/E (TTM) is 38.61 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the ON stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 219.9× as of Nov '26) can differ. 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), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.