onsemi
We offer intelligent power and intelligent sensing solutions that drive electrification, energy efficiency, safety, and automation in automotive, industrial, and other end-markets, including AI data center.
10-K, Feb 9, 2026
Source and method
In the company’s words: first descriptive sentence of 10-K Item 1, verbatim (extractive). Item 1 · Business · 10-K · 0001097864-26-000006 · filed Feb 9, 2026
Business
How does onsemi make money?
Power Solutions Group is 46.8% of revenue.
Source and method
Revenue by segments, FY2025.
annual report FY2025 · 0001097864-26-000006 · shares derived = part / total revenue
Calculated: share = part revenue ÷ total revenue ($6.0B).
- Power Solutions Group: $2.8B · 46.8%
- Analog Mixed Signal Group: $2.3B · 37.7%
- Intelligent Sensing Group: $928M · 15.5%
What is left of every $100?
Of every $100 in revenue, $2 is net income.
Source and method
Of every $100 of revenue, FY2025.
Calculated: amount ÷ revenue × 100.
- Revenue: $6.0B
- Gross profit: $2.0B
- Operating income: $84.2M
- Net income: $121M
- Free cash flow: $1.4B
Where do customers sit?
27.3% of revenue is from Hong Kong.
Source and method
Revenue by region, latest annual report.
10-K · 0001097864-26-000006 · XBRL revenue by country · one level, shares add up to 100.0% · derived
Calculated: share = region revenue ÷ total revenue.
In the company’s words ›
“Our intelligent power technologies enable the electrification of drivetrain in the automotive industry to allow for lighter and longer-range electric vehicles and empower efficient fast-charging systems.”
“Our intelligent sensing technologies enable advanced safety applications in automotive through industry leading performance and reliability.”
“We believe the evolution of the automotive industry, with advancements in autonomous driving, ADAS, vehicle electrification, and the increase in electronics content for vehicle platforms is reshaping the boundaries of transportation.”
Item 1 · Business · 10-K · 0001097864-26-000006 · filed Feb 9, 2026
Where did the growth actually come from?
Segments were redrawn between FY2018 and FY2025.
Source & method
- Counted
- Segment revenue as filed, first and last fiscal year of the range.
- Formulas
- Change = segment revenue (to) − segment revenue (from); share of growth = change / total revenue change (calculated). Not allocated = total revenue − sum of reported segments (calculated, never filled in).
- Guards
- Segment break: if the company redrew its segments inside the range, no share of growth is claimed. No segment break reported for this company. Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
Thesis
Why do people invest?
2 reasons in the company’s own words.
Revenue growth
“Revenue was $5,995.4 million and $7,082.3 million for 2025 and 2024, respectively.”
Item 7 · MD&A · 10-K · 0001097864-26-000006 · filed Feb 9, 2026
Number check (revenue): stated $6.0B matches the stored value ($6.0B, ±10%)
Revenue: $6.0B FY2025 · −15.3% vs FY2024 · KPIs
Position (in the company’s words)
“We are focused on increasing profitable revenue through differentiated technologies to address the high-growth megatrends in automotive, industrial and other markets which include AI data centers.”
Item 1 · Business · 10-K · 0001097864-26-000006 · filed Feb 9, 2026
Source and method
Verbatim · selection. Sentences selected by rules from the 10-K and checked word for word against it; no AI summary. Not investment advice, not a recommendation, no forecast.
2 of 2 points met the selection rules (score, subject = the metric, quoted number within ±10% of the stored value).
KPIs
How fast is revenue growing?
Revenue fell 15% to $6.0B.
Revenue grew 9.2% YoY to $1.6B.
Source & method
- Counted
- Total revenue, as filed in 10-K / 20-F / 10-Q XBRL.
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
Did the growth reach the shareholder?
Per share, revenue fell 21.6%.
Source & method
- Counted
- Revenue and weighted-average diluted shares, as filed, first and last fiscal year of the range.
- Formulas
- Revenue per diluted share = revenue / diluted shares; growth = (to / from) − 1. All three changes are calculated.
- Guards
- IPO: if the start year ended more than 365 days before the first SEC filing and diluted shares then rose ≥25%, the range is hidden by default (Options → Include IPO-distorted periods). Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How profitable is it?
1.4% operating margin, down from 25.0%.
33.1% gross margin, down from 45.4%.
Operating income fell 95% to $84.2M.
Net income fell 92% to $121M.
SG&A fell 6.9% to $605M.
EPS diluted fell 92% to $0.29.
16.1% operating margin, up from 13.2%.
38.4% gross margin, up from 37.6%.
Operating income grew 34% YoY to $259M.
Net income grew 33% YoY to $227M.
SG&A grew 6.9% YoY to $165M.
EPS diluted grew 37% YoY to $0.56.
Source & method
- Counted
- Income statement items, as filed.
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated. Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How much cash does it make, and where does it go?
Keeps $24 of every $100 as free cash.
Operating cash flow fell 7.7% to $1.8B.
Capex fell 51% to $341M.
Buybacks grew 111% to $1.4B.
Stock-based compensation grew 6.0% to $144M.
Free cash flow grew 301% YoY to $425M.
Operating cash flow grew 149% YoY to $460M.
Capex fell 56% YoY to $34.3M.
Buybacks grew 14% YoY to $345M.
Stock-based compensation grew 8.7% YoY.
Source & method
- Counted
- Cash flow statement items, as filed; free cash flow = operating cash flow − capex (calculated).
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How strong is the balance sheet?
$2.1B cash vs $3.0B debt.
Total debt fell 11% to $3.0B.
Interest expense grew 14% to $70.9M.
Total assets fell 11% to $12.5B.
Equity fell 13% to $7.7B.
Cash grew 39% YoY to $3.5B.
Total debt grew 33% YoY to $4.5B.
Interest expense fell 23% YoY to $13.7M.
Total assets grew 2.7% YoY to $13.5B.
Equity fell 9.1% YoY to $7.2B.
Source & method
- Counted
- Balance sheet items at fiscal year end, as filed; total debt is derived from reported components (excl. operating leases).
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
Dependencies
How much revenue hangs on one customer?
One onsemi customer: $659M.
Source & method
- Counted
- Largest customers as disclosed in the annual report (share of revenue).
- Formulas
- One customer in dollars = disclosed share × total revenue of the same fiscal year (calculated), only where the filing text confirms the share is of total revenue.
- Guards
- Anonymous customers stay anonymous. Segment-based shares are never multiplied by total revenue. Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
Customers, suppliers, stakes and mentions ›
Only what filings state. Anonymous customers stay anonymous.
Largest customers (onsemi annual report)
“We had one distributor whose revenue accounted for approximately 11% and 10% of the total revenue for the years ended December 31, 2025 and 2024, respectively.”
10-K · 0001097864-26-000006 · filed Feb 9, 2026 · basis: filing text, verified verbatim
Suppliers named by onsemi
No supplier among the covered companies is named in the filings.
onsemi holds stakes in
No stake in a covered company found in SEC filings.
Others name onsemi
1 competitor mention (e.g. Monolithic Power) in covered companies’ filings. Mentions, not confirmed relationships.
Risks
What could go wrong?
4 of 43 risk factors, one per theme.
Supply chain and manufacturing
“Our manufacturing network includes multiple owned and third-party facilities, which may each produce one or more components necessary for the assembly of a single product.”
Item 1A · Risk Factors · 10-K · 0001097864-26-000006 · filed Feb 9, 2026
Competition
“The semiconductor industry is highly competitive, and has experienced significant consolidation, and if we are unable to compete effectively or identify attractive opportunities for consolidation, it could materially adversely affect our business and results of operations.”
Item 1A · Risk Factors · 10-K · 0001097864-26-000006 · filed Feb 9, 2026
Trade, government policy and geopolitics
“Changes in, and the regulatory implementation of, tariffs or other government trade policies or geopolitical conditions could reduce demand for our products, limit our ability to sell our products to certain customers or our ability to comply with applicable laws and regulations, which may materially adversely affect our business and results of operations.”
Item 1A · Risk Factors · 10-K · 0001097864-26-000006 · filed Feb 9, 2026
AI and new products
“If we are unable to identify and make the substantial research and development investments or develop new products required to satisfy customer demands, our business, financial condition and results of operations may be materially adversely affected.”
Item 1A · Risk Factors · 10-K · 0001097864-26-000006 · filed Feb 9, 2026
Source and method
Short verbatim quotes from the risk factors in Item 1A, one per theme (a partial selection). Full list: 10-K.
Who’s invested
Who owns more than 5%?
Fmr LLC holds 8.2%.
Fmr LLC8.2%
13G/A · as of Sep 30, 2026 · filed Oct 7, 2026
Vanguard Capital Management LLC7.5%
13G · as of Mar 31, 2026 · filed Apr 30, 2026
Vanguard Portfolio Management LLC5.1%
13G · as of Mar 31, 2026 · filed Apr 29, 2026
BlackRock Inc.10% (then)
13G/A · filed Sep 10, 2024 · older than 18 months, current position unknown
Source and method
Holders above 5% from Schedule 13G/13D, SEC filings only. “(then)”: reported in a filing older than 18 months; the current position is not known from SEC 13G/13D data.
6 filings reporting a stake below 5% (e.g. after selling) not listed.
13F holders and insider trades ›
Largest institutional holders, 13F, quarter ending Jun 30, 2026
Fmr LLC12.3%
56.7M shares · 13F filed Aug 13, 2026 · share of 13F-reported
BlackRock, Inc.8.9%
41.0M shares · 13F filed Aug 7, 2026 · share of 13F-reported
Vanguard Capital Management LLC5.6%
25.6M shares · 13F filed Aug 13, 2026 · share of 13F-reported
Vanguard Portfolio Management LLC4.3%
19.6M shares · 13F filed Aug 13, 2026 · share of 13F-reported
State Street Corp4.0%
18.6M shares · 13F filed Aug 7, 2026 · share of 13F-reported
1,005 13F filers report positions. 13F covers managers with over $100M in US equities; it is not a full shareholder list, and shares are not a percentage of shares outstanding. 3 large filings with inconsistent reported value per share left out.
Insiders, last 12 months (Form 4, open market)
0 purchases · 15 sales · $21.3M sold
Grants, gifts and tax withholding counted separately · window Oct 14, 2025 – Oct 14, 2026
All metrics
All metrics · 34 SEC metrics, FY2016–FY2025
Income statement 11
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue | ||||||||||
| D&A | ||||||||||
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| Income taxes | ||||||||||
| Interest expense | ||||||||||
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| Operating income | ||||||||||
| Revenue | ||||||||||
| SG&A calc. | ||||||||||
| Sales & marketing | ||||||||||
Balance sheet 9
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | ||||||||||
| Current liabilities | ||||||||||
| Current portion of long-term debt | ||||||||||
| Equity | ||||||||||
| Equity incl. NCI | ||||||||||
| Long-term debt | ||||||||||
| Total assets | ||||||||||
| Total debt calc. | ||||||||||
| Total liabilities & equity | ||||||||||
Cash flow 6
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Buybacks | ||||||||||
| Capex | ||||||||||
| Free cash flow calc. | ||||||||||
| Interest paid | ||||||||||
| Operating cash flow | ||||||||||
| Stock-based compensation | ||||||||||
Per share & shares 4
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| EPS basic | ||||||||||
| EPS diluted | ||||||||||
| Wtd. shares basic | ||||||||||
| Wtd. shares diluted | ||||||||||
Other 4
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| NCI income | ||||||||||
| Other income (incl. interest) | ||||||||||
| Pretax income | ||||||||||
| Total liabilities | ||||||||||
Method
extractive: verbatim sentences selected by rules from Item 1, 1A and 7; no AI summary; every sentence matched verbatim against the filing text. Numbers: Hollsteen SEC dataset. Every value opens its SEC source · version history of all values