ON
ON Semiconductor Corporation
ON
73.60USD
+2.62%
Sep 23, 2026
Price
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Price Action
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of base repair.
The tactical setup reads base repair, but the weekly structure is broken.
EntryConstructive
Structure is constructive on both timeframes without excessive extension — a reasonable entry location.
Key Financials
- Market Cap
- $28.7B
- Avg Volume (60D)
- 10.0M
- Revenue Growth YoY
- -15.3%
- Gross Margin
- +37.7%
- Operating Margin
- +10.8%
- Free Cash Flow Yield
- +5.2%
- Distance from 200DMA
- -7.5%
- Next Earnings
- 2026-11-02
- P/E
- 45.5x
- EV / EBITDA
- 20.0x
- EV / Sales
- 4.7x
60 sessions
FY2025 vs FY2024
Trailing twelve months
Trailing twelve months
Market metrics as of Sep 22, 2026
Financial results for the period ended Jul 3, 2026
Filed balance-sheet data as of Jul 3, 2026
Fundamentals & Valuation
The available comparisons disagreed; the peers comparison is the more reliable method for this business and the others are published as dissent.
ON Semiconductor Corporation has a Cheap valuation stance because current market expectations look undemanding relative to the cash the business actually produces.
Company Research
Thesis
Onsemi currently designs and manufactures intelligent-power semiconductors, including silicon-carbide and silicon power devices, plus analog/mixed-signal and image-sensing products, with automotive and industrial end markets central to its business.
Opportunity
Moderate opportunity
Deployment of intelligent machines in vehicles, factories, robotics and other edge environments requires tightly integrated semiconductor content for real-time sensing, efficient power conversion, local inference, connectivity and control.
Key risk
Cyclical demand fluctuations in automotive and industrial markets.
Narrative & Theme
Physical AI and Edge Intelligence
Part of Integrated Power, Sensing and Edge AI Silicon, with moderate fit.
ON has a genuine but not yet pure-play exposure to the emerging Physical AI/edge-intelligence buildout.
Narrative HeatHeating up7.1 / 10
Theme HeatNeutral6.7 / 10
This is the company’s own research reading. The canonical heat measurement for this story has not run.
Business & Markets
Technology · Semiconductors
What they do
ON Semiconductor Corporation designs, manufactures, and sells semiconductor components focused on power conversion, analog and mixed-signal solutions, and intelligent sensing technologies through three operating segments.
How it earns
The company generates revenue primarily through transactional sales of semiconductor products to industrial, automotive, and consumer electronics customers.
Products & services
Power semiconductor devices
Analog and mixed-signal integrated circuits
Intelligent sensing solutions
Customers & end markets
Automotive manufacturers and suppliers
Industrial equipment makers
Consumer electronics companies
Market position
ON Semiconductor is a leading supplier in power and sensing semiconductor markets with a broad product portfolio.
Demand drivers
Medium cyclicality
Demand is influenced by end-market cycles in automotive and industrial sectors, which can be volatile but less so than consumer electronics alone.
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