ON Semiconductor (ON) financial statements
ON Semiconductor reported revenue of $6.0B in fiscal 2025, up 4.9% a year over 9 years.
Net income was $121M and the operating margin 1.4%, against 6.3% in 2016.
Free cash flow was $1.4B, and the company returned $1.4B in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from ON Semiconductor's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.9B | $5.5B | $5.9B | $5.5B | $5.3B | $6.7B | $8.3B | $8.3B | $7.1B | $6.0B |
| Cost of revenue | $2.6B | $3.5B | $3.6B | $3.5B | $3.5B | $4.0B | $4.2B | $4.4B | $3.9B | $4.0B |
| Gross profit | $1.3B | $2.0B | $2.2B | $2.0B | $1.7B | $2.7B | $4.1B | $3.9B | $3.2B | $2.0B |
| Research and development | $447M | $595M | $651M | $641M | $643M | $655M | $600M | $577M | $613M | $584M |
| Selling, general and admin | $467M | $602M | $618M | $585M | $537M | $598M | $631M | $642M | $650M | $605M |
| Operating income | $247M | $682M | $847M | $433M | $349M | $1.3B | $2.4B | $2.5B | $1.8B | $84M |
| Interest expense | $145M | $141M | $128M | $148M | $168M | $130M | $95M | $75M | $62M | $71M |
| Pre-tax income | $181M | $548M | $755M | $277M | $177M | $1.2B | $2.4B | $2.5B | $1.8B | $131M |
| Income tax | -$4M | -$266M | $125M | $63M | -$60M | $147M | $458M | $350M | $263M | $8M |
| Net income | $182M | $811M | $627M | $212M | $234M | $1.0B | $1.9B | $2.2B | $1.6B | $121M |
| EPS (diluted) | $0.43 | $1.89 | $1.44 | $0.51 | $0.56 | $2.27 | $4.25 | $4.89 | $3.63 | $0.29 |
| Diluted shares | 420M | 428M | 436M | 416M | 419M | 444M | 448M | 447M | 433M | 412M |
| Gross margin | 33.3% | 36.7% | 38.1% | 35.8% | 32.7% | 40.3% | 49.0% | 47.1% | 45.4% | 33.1% |
| Operating margin | 6.3% | 12.3% | 14.4% | 7.8% | 6.6% | 19.1% | 28.3% | 30.8% | 25.0% | 1.4% |
| Net margin | 4.7% | 14.6% | 10.7% | 3.8% | 4.5% | 15.0% | 22.8% | 26.5% | 22.2% | 2.0% |
Balance sheet
Fiscal years, from ON Semiconductor's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.0B | $949M | $1.1B | $894M | $1.1B | $1.4B | $2.9B | $2.5B | $3.0B | $2.5B |
| Receivables | $630M | $702M | $686M | $705M | $676M | $809M | $842M | $935M | $1.2B | $908M |
| Inventory | $1.0B | $1.1B | $1.2B | $1.2B | $1.3B | $1.4B | $1.6B | $2.1B | $2.2B | $2.0B |
| Total current assets | $2.9B | $2.9B | $3.2B | $3.0B | $3.2B | $3.8B | $5.7B | $5.9B | $6.8B | $5.8B |
| Property, plant and equipment | $2.2B | $2.3B | $2.5B | $2.6B | $2.5B | $2.5B | $3.5B | $4.4B | $4.4B | $3.4B |
| Goodwill | $925M | $917M | $932M | $1.7B | $1.7B | $1.9B | $1.6B | $1.6B | $1.6B | $1.7B |
| Total assets | $6.9B | $7.2B | $7.6B | $8.4B | $8.7B | $9.6B | $12.0B | $13.2B | $14.1B | $12.5B |
| Total current liabilities | $1.5B | $1.4B | $1.5B | $1.8B | $1.7B | $1.5B | $2.1B | $2.2B | $1.3B | $1.3B |
| Long-term debt | $3.1B | $2.7B | $2.6B | $2.9B | $3.0B | $2.9B | $3.0B | $2.5B | $3.3B | $3.0B |
| Total liabilities | $5.0B | $4.4B | $4.4B | $5.1B | $5.1B | $5.0B | $5.8B | $5.4B | $5.3B | $4.8B |
| Shareholders' equity | $1.8B | $2.8B | $3.2B | $3.3B | $3.5B | $4.6B | $6.2B | $7.8B | $8.8B | $7.7B |
| Net debt | $2.6B | $2.0B | $1.7B | $2.7B | $2.4B | $1.7B | $274M | $854M | $655M | $833M |
Cash flow
Fiscal years, from ON Semiconductor's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $581M | $1.1B | $1.3B | $695M | $884M | $1.8B | $2.6B | $2.0B | $1.9B | $1.8B |
| Capital spending | $211M | $388M | $515M | $535M | $384M | $445M | $1.0B | $1.5B | $694M | $341M |
| Free cash flow | $370M | $707M | $759M | $160M | $501M | $1.3B | $1.6B | $438M | $1.2B | $1.4B |
| Stock-based compensation | $56M | $70M | $78M | $79M | $68M | $101M | $101M | $121M | $136M | $144M |
| Share buybacks (net) | $0 | -$25M | -$315M | -$139M | -$65M | $0 | -$260M | -$564M | -$654M | -$1.4B |
| Net borrowing | $2.3B | -$725M | -$283M | $810M | -$166M | -$483M | -$30M | $122M | $0 | -$375M |
| Free cash flow margin | 9.5% | 12.7% | 12.9% | 2.9% | 9.5% | 19.8% | 19.2% | 5.3% | 17.1% | 23.7% |
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Open ON in InvestinglyQuestions
What was ON Semiconductor's revenue in 2025?
$6.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does ON Semiconductor generate?
$1.4B in fiscal 2025 (operating cash flow minus capital spending).
From ON Semiconductor's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.