ON SEMICONDUCTOR CORP

Listed Company

ONCIK 0001097864NasdaqLarge AcceleratedSemiconductors & Related DevicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$6.00B

Net Income

$121.00M

Total Assets

$12.52B

Equity

$7.67B

Shares Out

394.02M

Op. Cash Flow

$1.76B

Business

ON Semiconductor Corp provides intelligent power and sensing semiconductor solutions focused primarily on automotive and industrial markets. It offers discrete and integrated power products (including SiC, MOSFETs, modules, gate drivers and foundry services), analog and mixed-signal ICs (power management, sensor interfaces, converters, logic and memory) and imaging and sensing products (CMOS image sensors, SPAD/SiPM detectors, ISPs and actuator drivers). The company operates three reportable segments: Power Solutions Group (PSG), Analog and Mixed‑Signal Group (AMG) and Intelligent Sensing Group (ISG). It sells globally through distributors and direct customer channels supported by a worldwide manufacturing and logistics network.

Summary from filing dated 2025-02-10

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	5,995	7,082	8,253	8,326	6,740
Cost of revenue	4,012	3,866	4,370	4,249	4,026
Gross profit	1,984	3,216	3,884	4,077	2,714
Research and development	584	613	577	600	655
Selling and marketing	256	274	279	288	294
General and administrative	349	376	362	343	305
Amortization of intangible assets	44	52	51	81	99
Restructuring, asset impairments and other, net	667	134	75	18	71
Total operating expenses	1,900	1,448	1,345	1,717	1,427
Operating income	84	1,768	2,539	2,360	1,288
Interest expense	−71	−62	−75	−95	—
Interest income	95	111	93	16	1
Loss on debt refinancing and prepayment	0	0	−13	−7	−29
Loss on divestiture of businesses	0	0	−700,000	67	10
Other income (expense), net	23	21	−7	22	18
Other income (expense), net	47	70	−3	2	−130
Income before income taxes	131	1,837	2,536	2,362	1,158
Income tax provision	−8	−263	−350	−458	−147
Net income	124	1,575	2,186	1,904	1,011
Less: Net income attributable to non-controlling interest	−3	−2	−2	−2	−2
Net income attributable to ON Semiconductor Corporation	121	1,573	2,184	1,902	1,010
Net income for diluted earnings per share of common stock (Note 10)	121	1,573	2,185	1,904	1,010
Basic (in dollars per share)	0.29	3.68	5.07	4.39	2.37
Diluted (in dollars per share)	0.29	3.63	4.89	4.25	2.27
Basic (in shares)	411	427	431	433	426
Diluted (in shares)	412	433	447	448	444
Foreign currency translation adjustments	400,000	−3	−2	−6	−4
Effects of cash flow hedges	7	−14	−20	23	21
Other comprehensive income (loss), net of tax	7	−17	−22	17	17
Comprehensive income	131	1,557	2,164	1,921	1,028
Comprehensive income attributable to non-controlling interest	−3	−2	−2	−2	−2
Comprehensive income attributable to ON Semiconductor Corporation	128	1,556	2,162	1,920	1,027

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	2,148	2,691	2,483	2,919	1,353
Short-term investments	400	300	0	—	—
Receivables, net	908	1,160	935	842	809
Inventories	1,990	2,242	2,112	1,617	1,380
Assets held-for-sale	25	5	—	—	—
Other current assets	353	353	382	351	240
Total current assets	5,823	6,752	5,912	5,729	3,782
Property, plant and equipment, net	3,369	4,361	4,402	3,451	2,524
Goodwill	1,680	1,588	1,578	1,578	1,938
Intangible assets, net	344	258	299	360	496
Deferred tax assets	929	730	601	377	366
ROU financing lease assets	23	41	42	46	22
Other assets	356	360	381	439	498
Total assets	12,524	14,090	13,215	11,979	9,626
Accounts payable	572	575	726	852	635
Accrued expenses and other current liabilities	715	760	663	1,047	735
Current portion of financing lease liabilities	500,000	300,000	800,000	14	13
Total current liabilities	1,288	1,335	2,184	2,061	1,543
Long-term debt	2,981	3,346	2,543	3,046	2,914
Deferred tax liabilities	42	38	39	34	43
Long-term financing lease liabilities	24	21	22	23	10
Other long-term liabilities	499	536	627	607	511
Total liabilities	4,832	5,275	5,415	5,772	5,022
Commitments and contingencies (Note 13)	—	—	—	—	—
Common stock ($0.01 par value, 1,250,000,000 shares authorized, 624,962,201 and 622,655,553 shares issued, 396,740,551 and 422,955,173 shares outstanding, respectively)	6	6	6	6	6
Additional paid-in capital	5,539	5,372	5,211	4,671	4,633
Accumulated other comprehensive loss	−56	−62	−45	−23	−41
Accumulated earnings	8,242	8,121	6,548	4,364	2,435
Less: Treasury stock, at cost; 228,221,650 and 199,700,380 shares, respectively	−6,058	−4,641	−3,937	−2,830	−2,448
Total ON Semiconductor Corporation stockholders equity	7,673	8,796	7,783	6,189	4,585
Non-controlling interest	19	18	18	19	19
Total stockholders' equity	7,692	8,815	7,801	6,207	4,604
Total liabilities and stockholders' equity	12,524	14,090	13,215	11,979	9,626

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	686	643	610	552	597
Loss on sale or disposal of property, plant and equipment	800,000	6	12	−33	0
Amortization of debt discount and issuance costs	11	11	11	11	11
Share-based compensation	144	136	121	101	101
Non-cash asset impairment charges	496	38	20	19	11
Change in deferred tax balances	−194	−130	−128	—	—
Other	−2	10	−5	100,000	4
Receivables	164	−244	−113	−48	−136
Inventories	273	−130	−495	−235	−123
Other assets	90	107	700,000	−111	−23
Accounts payable	137	−63	−92	38	71
Accrued expenses and other current liabilities	−103	62	−179	97	124
Other long-term liabilities	−68	−115	15	8	29
Net cash provided by operating activities	1,760	1,906	1,978	2,633	1,782
Payments for acquisition of property, plant and equipment	−341	−694	−1,539	−1,036	−445
Proceeds from sale of property, plant and equipment and assets held-for-sale	32	6	4	59	14
Payments related to acquisition of business, net of cash acquired	−125	−21	−236	—	—
Purchase of short-term investments and available-for-sale securities	−1,050	−1,050	0	−18	−49
Proceeds from maturity of short-term investments and available-for-sale securities	950	750	34	29	4
Other	−5	−2	0	0	—
Net cash used in investing activities	−539	−1,010	−1,738	−705	−915
Proceeds for the issuance of common stock under the ESPP	22	25	26	23	24
Payment of tax withholding for RSUs	−29	−51	−67	−78	−39
Repurchase of common stock	−1,378	−654	−564	−260	0
Issuance and borrowings under debt agreements	0	0	1,845	500	787
Repayment of borrowings under debt agreements	−375	0	−1,723	−530	−1,271
Payment on principal portion of finance lease obligations	−2	−2	−15	−12	0
Payment for purchase of bond hedges	0	0	−414	0	−160
Proceeds from issuance of warrants	0	0	243	0	94
Other	−3	−2	−16	−14	—
Net cash used in financing activities	−1,764	−684	−687	−370	−569
Effect of exchange rate changes on cash, cash equivalents and restricted cash	−2	−4	−1	−2	−1
Net increase (decrease) in cash, cash equivalents and restricted cash	−544	208	−448	1,555	296

Filings

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