ON Semiconductor Corporation

WBAG:ONSE Stock Report

Market Cap: €26.2b

ON Semiconductor Valuation

Is ONSE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ONSE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ONSE (€61.02) is trading below our estimate of fair value (€179.59)

Significantly Below Fair Value: ONSE is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ONSE?

Key metric: As ONSE is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ONSE. This is calculated by dividing ONSE's market cap by their current earnings.
What is ONSE's PE Ratio?
PE Ratio15.3x
EarningsUS$1.76b
Market CapUS$26.85b

Price to Earnings Ratio vs Peers

How does ONSE's PE Ratio compare to its peers?

The above table shows the PE ratio for ONSE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average37x
MCHP Microchip Technology
39.1x30.4%US$30.8b
GFS GlobalFoundries
31.6x22.5%US$23.7b
STMPA STMicroelectronics
10.6x7.9%€21.4b
MPWR Monolithic Power Systems
66.8x19.7%US$28.9b
ONSE ON Semiconductor
15.3x14.7%€26.8b

Price-To-Earnings vs Peers: ONSE is good value based on its Price-To-Earnings Ratio (15.3x) compared to the peer average (37.1x).

Price to Earnings Ratio vs Industry

How does ONSE's PE Ratio compare vs other companies in the European Semiconductor Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
ONSE 15.3xIndustry Avg. 17.8xNo. of Companies6PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ONSE is good value based on its Price-To-Earnings Ratio (15.3x) compared to the European Semiconductor industry average (17.9x).

Price to Earnings Ratio vs Fair Ratio

What is ONSE's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ONSE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.3x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate ONSE's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ONSE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€61.02
€81.88
+34.2%
12.7%€102.02€52.44n/a29
Dec ’25€68.62
€82.59
+20.4%
12.7%€102.75€52.82n/a29
Nov ’25€66.01
€79.20
+20.0%
13.1%€98.95€50.86n/a27
Oct ’25€64.34
€78.55
+22.1%
13.3%€96.23€54.47n/a27
Sep ’25€69.99
€78.55
+12.2%
13.3%€96.23€54.47n/a27
Aug ’25€68.77
€80.14
+16.5%
13.2%€98.05€55.50n/a27
Jul ’25€63.26
€77.78
+22.9%
13.5%€96.53€51.05n/a28
Jun ’25€65.24
€77.78
+19.2%
13.5%€96.53€51.05n/a28
May ’25€66.78
€78.29
+17.2%
13.1%€97.43€51.52n/a28
Apr ’25€68.85
€82.51
+19.8%
11.4%€106.78€55.71n/a28
Mar ’25€74.51
€82.51
+10.7%
11.4%€106.78€55.71n/a28
Feb ’25€63.93
€81.13
+26.9%
12.3%€101.33€55.27n/a28
Jan ’25€76.93
€79.50
+3.3%
14.1%€100.76€54.96€63.0328
Dec ’24€67.23
€79.89
+18.8%
14.5%€101.44€55.33€68.6227
Nov ’24n/a
€83.29
0%
16.0%€113.20€56.69€66.0126
Oct ’24n/a
€111.24
0%
8.7%€124.92€89.75€64.3426
Sep ’24n/a
€111.24
0%
8.7%€124.92€89.75€69.9926
Aug ’24n/a
€108.45
0%
9.9%€122.92€82.86€68.7726
Jul ’24n/a
€88.13
0%
8.1%€100.78€73.30€63.2626
Jun ’24n/a
€88.59
0%
7.6%€102.12€74.27€65.2426
May ’24n/a
€84.03
0%
9.3%€100.27€67.45€66.7826
Apr ’24n/a
€86.68
0%
8.3%€99.55€70.16€68.8526
Mar ’24n/a
€85.31
0%
8.6%€99.53€69.20€74.5127
Feb ’24n/a
€69.32
0%
8.1%€78.36€50.70€63.9328
Jan ’24n/a
€69.61
0%
7.9%€78.08€51.74€76.9328

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/02 07:34
End of Day Share Price 2025/01/02 00:00
Earnings2024/09/27
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

ON Semiconductor Corporation is covered by 59 analysts. 33 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Tristan GerraBaird
Ishan MajumdarBaptista Research
Romit ShahBarclays