ON Semiconductor Corporation
Financial Performance
onsemi Revenue & Financials
Revenue
$6B (FY2025)
Market Cap
$27.7B
Net Income
$121M
Employees
22,600
What is onsemi's revenue?
onsemi had $6B in revenue for fiscal year 2025, down 15.3% from 2024. Net income was $121M.
- Latest revenue
- $6B (FY2025)
- Year-over-year
- -15.3%
- Growth rate (CAGR)
- 4.9% over 9 years
- Peak revenue
- $8.3B (FY2022)
- Years of data
- 10
- Employees
- 22,600
Financial Analysis
onsemi's revenue peaked at $8.33 billion in 2022, held at $8.25 billion in 2023, then fell to $7.08 billion in 2024 and $5.995 billion in 2025 as automotive and industrial customers cut inventory. GAAP net income dropped from $1.57 billion in 2024 to $121.0 million in 2025, though the company still generated about $1.4 billion of free cash flow and spent all of it on buybacks. In 2026 revenue recovered to $1.51 billion in Q1 and $1.604 billion in Q2, with Q2 GAAP net income of $226.8 million, non-GAAP gross margin of 39.3% and $425 million of free cash flow. Guidance for Q3 2026 was $1.65 billion to $1.75 billion of revenue. onsemi (ON Semiconductor Corporation) is a massive American semiconductor supplier company, commanding a market valuation typically exceeding $35 billion.
Revenue Trend Analysis
YoY Change
-15.3%
9-Year CAGR
+4.9%
Peak Year
2022
Trend
Volatile
ON Semiconductor Corporation has 10 full fiscal year figures on this page, compounding at +4.9% annually over 9 years. The most recent year saw a 15.3% decline versus the prior year. Annual revenue peaked in fiscal year 2022 at $8.3B. Of 9 comparable year-over-year steps, 4 showed growth and 5 showed a decline.
Annual revenue history
Click any row to see year details.
ON Semiconductor Corporation balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $1.8B | $341.2M | $12.5B | $4.8B | $7.7B | $1.4B | Form 10-K |
| FY2024ended Dec 31, 2024 | $1.9B | $694M | $14.1B | $5.3B | $8.8B | $1.2B | Form 10-K |
| FY2023ended Dec 31, 2023 | $2B | $1.5B | $13.2B | $5.4B | $7.8B | $438.4M | Form 10-K |
| FY2022ended Dec 31, 2022 | $2.6B | $1B | $12B | $5.8B | $6.2B | $1.6B | Form 10-K |
| FY2021ended Dec 31, 2021 | $1.8B | $444.6M | $9.6B | $5B | $4.6B | $1.3B | Form 10-K |
| FY2020ended Dec 31, 2020 | $884.3M | $383.6M | $8.7B | $5.1B | $3.5B | $500.7M | Form 10-K |
| FY2019ended Dec 31, 2019 | $694.7M | $534.6M | $8.4B | $5.1B | $3.3B | $160.1M | Form 10-K |
| FY2018ended Dec 31, 2018 | $1.3B | $514.8M | $7.6B | $4.4B | $3.2B | $759.4M | Form 10-K |
| FY2017ended Dec 31, 2017 | $1.1B | $387.5M | $7.2B | $4.4B | $2.8B | $706.7M | Form 10-K |
| FY2016ended Dec 31, 2016 | $581.1M | $210.7M | $6.9B | $5B | $1.8B | $370.4M | Form 10-K |
Keep researching onsemi
onsemi Revenue and Financial FAQ
What was onsemi's revenue in 2025?
onsemi reported 2025 revenue of $5.995 billion, down from $7.082 billion in 2024, and GAAP net income of $121.0 million.
What was onsemi's latest quarterly revenue?
Q2 2026 revenue was $1.604 billion, up 9% year over year and 6% from Q1, with non-GAAP gross margin of 39.3% and GAAP net income of $226.8 million.
How much free cash flow does onsemi generate?
onsemi generated about $1.4 billion of free cash flow in 2025 and returned all of it via share repurchases. Q2 2026 free cash flow was $425 million.
What is onsemi's Q3 2026 guidance?
onsemi guided Q3 2026 revenue to $1.65 billion to $1.75 billion and gross margin to 40% to 42%.
What is onsemi's market cap?
onsemi's market capitalization was roughly $27.7 billion in early September 2026; it changes with the share price.
How did onsemi expand its gross margin profile from 32% to over 45%?
Through aggressive product portfolio pruning, eliminating dilutive low-margin commodity discrete products, insourcing silicon carbide substrate boules from GT Advanced Technologies, and scaling automated packaging, onsemi structurally elevated gross margins from the low-30% range to over 45%.
What is onsemi's long-term capital allocation and share buyback strategy?
onsemi returns approximately 50% to 75% of free cash flow to shareholders through opportunistic share repurchases, while reinvesting the remainder into silicon carbide capacity expansions in Roznov (Czech Republic) and Bucheon (South Korea).
How does semiconductor inventory cyclicality impact onsemi's quarterly earnings?
Because onsemi serves automotive Tier-1 suppliers and industrial OEMs, inventory adjustments during automotive production slowdowns create cyclical revenue corrections, which onsemi manages through long-term supply agreements (LTSAs) with minimum volume commitments.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "onsemi Revenue & Financials." CorpDigest, https://corpdigest.com/company/onsemi/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>onsemi reported $6B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/onsemi/financials" target="_blank" rel="noopener">CorpDigest — onsemi financials</a></div>Related Financial Audits
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