ON Semiconductor Corporation

ON Semiconductor is a U.S.-based semiconductor company that designs and manufactures power and sensing chips used in automotive, industrial, and other electronics applications. Its portfolio includes power management devices, silicon carbide and GaN products, image sensors, and related analog and mixed-signal components sold through direct and distributor channels worldwide.

12,8 %

33,1 %

2,0 %

−15,3 %

4.52

2.98

— ON Semiconductor Corporation
%
Power Semiconductor Solutions47% Silicon carbide, GaN, MOSFET, discrete, and module products for power conversion and control.
Analog and Mixed-Signal38% Analog, ASIC, logic, isolation, memory, and gate driver products for industrial and automotive systems.
Intelligent Sensing15% CMOS image sensors, image signal processors, and specialty sensing devices for vision and detection.

The company sells primarily into automotive and industrial end markets, where customers use its chips in...

  • Automotiveprimary

    Buys power and sensing chips for EVs, ADAS, in-vehicle networking, body electronics, and powertrain systems; this is the core end market.

  • Industrialprimary

    Buys power management, sensing, and control products for automation, energy, robotics, machine vision, and infrastructure equipment.

  • Distributorssecondary

    Purchase across the portfolio and resell into fragmented customer bases, helping broaden reach and inventory coverage.

  • Other electronics end marketssecondary

    Includes data center, communications, consumer, and specialty applications that buy selected power and sensing products.

ON Semiconductor is headquartered in the United States and operates a global manufacturing and logistics network that...

  • •Headquartered in the United States
  • •Global manufacturing and logistics network supports customer supply
  • •Sales are billed from multiple countries and regions worldwide
  • •Exposure spans North America, Europe, and Asia end markets
  • •Manufacturing footprint matters for supply continuity and cost structure

The company is focused on power and sensing technologies tied to long-term electrification, automation, and intelligent...

01
Grow in automotive electrification and industrial automationmedium-term

These end markets drive demand for power conversion and sensing content over time.

02
Expand differentiated silicon carbide and sensing portfoliosmedium-term

Specialized products support performance, customer lock-in, and mix improvement.

03
Optimize manufacturing footprint and capacityshort-term

Semiconductor economics depend on utilization, yields, and supply reliability.

04
Maintain capital discipline and shareholder returnsshort-term

Cash generation and repurchases are part of the company’s capital allocation framework.

The business is exposed to cyclical demand in automotive and industrial markets, where customer spending can shift...

high

Cyclical demand in automotive and industrial end markets

A large share of revenue depends on customer production and capital spending in these sectors.

Scope
Automotive and industrial revenue concentration
Materiality
high
high

Manufacturing and supply chain disruption

Semiconductor output depends on complex internal and third-party processes and logistics.

Scope
Production, packaging, and distribution network
Materiality
high
medium

Competitive pressure from major semiconductor peers

Competitors may have greater resources, broader integration, or stronger pricing power.

Scope
Power, analog, and image sensing product lines
Materiality
high
medium

Customer concentration and distributor dependence

A single distributor represented about 11% of revenue in 2025.

Scope
Channel sales mix
Materiality
high
medium

Macroeconomic, geopolitical, and interest-rate sensitivity

These factors can affect end-market demand, supply chains, and customer investment decisions.

Scope
Global operations and sales
Materiality
medium
Inventory valuation and obsolescence
Affects cost of sales and gross margin
Customer incentives and returns
Affects net revenue and accrued liabilities
Goodwill and intangible asset impairment
Can create large non-cash charges
Long-lived asset impairment and restructuring charges
Affects operating income and asset base

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: 11/08/2026