ON
On Semiconductor Corp Information Technology Semiconductors & Related Devices S&P 500Russell 3000
$71.67Close
$28.4BMarket cap
$44.90 – $133.9352-week range
Nov 2, 2026Next report · after the close
Highlights
Strengths
- Earnings growing EPS +37% year on year
Cautions
- Not in an uptrend 3 of 8 trend conditions
- Lagging the market RS 46 · weaker than 54% of stocks over 12 months
- Far from its high 46% below its 52-week high
- Results soon Nov 2, 2026, in 1 day
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
46%
1wk
down 0.8%
price change
1mo
down 6.8%
price change
12-month return
up 41%
market up 11% ·
its own up 29%
F-score
5 / 9
Mixed
Altman Z
5.39
Low risk
P/E
235.0×
price / earnings
PEG
—
P/E / EPS growth
P/B
3.7×
price / book
Earnings yield
up 0.3%
EBIT / enterprise value
Cheaper than
45%
of the market · around average
Revenue growth
down 15%
year on year
EPS growth
up 37%
latest quarter
Sales growth
up 9%
latest quarter · +5 pts
ROE
up 1%
return on equity
Free cash margin
up 24%
$1.4B FCF
D/E
0.39
long-term debt / equity
Net debt / EBITDA
1.1×
Interest cover
—EBIT / interest
Piotroski tests
- profitability slipped from last year
- short-term liquidity weakened
- gross margin narrowed
- assets working less efficiently
- profitable on its assets
- generating cash from operations
- profits backed by cash
- reduced long-term debt
- no new shares issued
Repair signals
- Long-term debt down 11% ($3.3B → $3.0B)
Trade setup
ATR%
5.0%
$3.61 a day · 2×ATR $64.45
RS
46 / 99
vs the universe
Trend
3 / 8
trend template
Relative volume
1.6×
vs 50-day average
Up/down volume
1.17
50 sessions
Implied move
11.2%
by Nov 6, 2026 · report Nov 2, 2026
Trend template · 3 of 8
- Price above the 150 and 200-day averages: fails
- 150-day average above the 200-day: passes
- 200-day average rising for a month: passes
- 50-day average above the 150 and 200-day: fails
- Price above the 50-day average: fails
- At least 30% above the 52-week low: passes
- Within 25% of the 52-week high: fails
- RS rank 70 or higher: fails
Screen verdict
Did not qualify for any screen.
Warning signs
- Material impairment The company disclosed a material impairment - an asset written down below the value the balance sheet had been carrying.
- Gross margin narrowing Gross margin fell from 45.4% to 33.1%. The company is keeping less of each dollar of sales than it did a year ago.
- Revenue shrinking Revenue fell 15.3% over the year, from $7.1B to $6.0B.
Last reported
Aug 3, 2026
Results reaction
Aug 3, 2026-4% vs market2 sessions after results
Options
$5.6M67.8% IV · activity
Financials
- Gross 33%
- Net 2%
- Free cash 24%
- Cash
- Long-term debt
| FY2020Dec 31, 2020 | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $5.3B | $6.7B | $8.3B | $8.3B | $7.1B | $6.0B |
| Gross margin | 33% | 40% | 49% | 47% | 45% | 33% |
| Operating income | $348.7M | $1.3B | $2.4B | $2.5B | $1.8B | $84.2M |
| Net income | $234.2M | $1.0B | $1.9B | $2.2B | $1.6B | $121.0M |
| Net margin | 4% | 15% | 23% | 26% | 22% | 2% |
| Earnings per share | $0.56 | $2.27 | $4.24 | $4.89 | $3.63 | $0.29 |
| Free cash flow | $500.7M | $1.3B | $1.6B | $438.4M | $1.2B | $1.4B |
| Free cash margin | 10% | 20% | 19% | 5% | 17% | 24% |
| Cash | $1.1B | $1.4B | $2.9B | $2.5B | $2.7B | $2.1B |
| Long-term debt | $3.0B | $2.9B | $3.0B | $2.5B | $3.3B | $3.0B |
| Shareholders' equity | $3.5B | $4.6B | $6.2B | $7.8B | $8.8B | $7.7B |
| Shares outstanding | 411.84m | 432.47m | 431.94m | 426.39m | 422.96m | 396.74m |
Next report
Nov 2, 2026 · after the close
Expected move The move, either way, the option market prices in through the next scheduled report: the at-the-money straddle for the first expiry that contains it, over the price. It includes the days around the report, so it slightly overstates the report alone. Methodology
±11.2%
$64 – $80 by Nov 6, 2026
Usual move The median, over the company's last four reports, of how far the stock moved either way from the close before the filing to the close of the session after it. Methodology
±2.2%
last 4: -1.0% · -0.3% · +3.3% · -3.6%
Expected against usual The move the options price through this report over the move the last four reports delivered. Above 1 the event is priced bigger than the company's own record; below 1, smaller. A price, not a forecast: it says what protection through the report costs, not which way the stock will go. Methodology
Bigger than usual
5.1× the usual move
What options price now
- Expected 1-month range The at-the-money straddle for the expiry nearest a month out, as a share of the price: the move, either way, the option market is pricing by then. The range is the price plus and minus that move; the stock ends inside it a little more often than not. Methodology
- $61 – $83 ±15.8% by Nov 27, 2026
- Swings expected vs recent The daily swings the options are priced for (implied volatility) against the swings the stock actually had over the last 20 sessions (realised volatility). Bigger means options charge for more movement than the stock has been delivering; smaller, less. On a contract row, that contract's own implied volatility over the stock's realised. Methodology
- Bigger 67.8% priced · 49.3% recent
- Next month vs later At-the-money implied volatility for 8-45 day expiries over 46-90 day ones: whether options price the coming month as choppier or calmer than the two after it. Ahead of a report it usually reads choppier, and the extra comes out once the report is out. Methodology
- Choppier
- Crash protection What options that pay off in a fall cost against options that pay off in a rise (the 25-delta skew), compared with this company's own normal - the median of its stored nightly readings, once there are 20 - and with five sessions ago. Protection costs a little more than upside on most shares. More than usual means readers of the chain are paying up to insure against a drop; it does not say which way the stock will go. Methodology
- past week: costs more
Positioning
- Premium traded
- $5.6M calls $3.3M · puts $2.4M · latest session
- 0.73× -0.62 over the week
- Open interest added The change over five sessions in option positions left open overnight, calls and puts. A rise means positions were added. It cannot say whether they were bought or sold, so more calls is not a vote for a rise: a call is as often sold against shares already held. Methodology
- calls -11.29k · puts -6.50k past week
For options traders: ATM IV 67.8% (+1.1% 1w) · 1m ÷ 3m IV 1.14 · 25Δ skew 5.9 pts · Net GEX $2.0M
Most traded contracts
No contract passed the liquidity filters this week.
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Aug 3, 2026 | Quarterly ↗ | Jul 3, 2026 | 31d |
| May 4, 2026 | Quarterly ↗ | Apr 3, 2026 | 31d |
| Feb 9, 2026 | Annual ↗ | Dec 31, 2025 | 40d |
| Nov 3, 2025 | Quarterly ↗ | Oct 3, 2025 | 31d |
| Aug 4, 2025 | Quarterly ↗ | Jul 4, 2025 | 31d |
| May 5, 2025 | Quarterly ↗ | Apr 4, 2025 | 31d |
| Feb 10, 2025 | Annual ↗ | Dec 31, 2024 | 41d |
| Oct 28, 2024 | Quarterly ↗ | Sep 27, 2024 | 31d |
| Jul 29, 2024 | Quarterly ↗ | Jun 28, 2024 | 31d |
| Apr 29, 2024 | Quarterly ↗ | Mar 29, 2024 | 31d |
| Feb 5, 2024 | Annual ↗ | Dec 31, 2023 | 36d |
| Oct 30, 2023 | Quarterly ↗ | Sep 29, 2023 | 31d |
Current reports
| Filed | Disclosed |
|---|---|
| Oct 1, 2026 | Material agreement · Other events ↗ |
| Aug 13, 2026 | Other events ↗ |
| Aug 3, 2026 | Results ↗ |
| Jun 25, 2026 | Material agreement · Other events ↗ |
| May 18, 2026 | Director or officer change · Shareholder vote ↗ |
| May 12, 2026 | Material agreement · New obligation · Unregistered share sale · Other events ↗ |
| May 7, 2026 | Other events ↗ |
| May 6, 2026 | Other events ↗ |
| May 4, 2026 | Results ↗ |
| Mar 11, 2026 | Director or officer change ↗ |
| Feb 9, 2026 | Results ↗ |
| Nov 17, 2025 | Impairment ↗ |