ON Semiconductor Corporation

SWX:ON Stock Report

Market Cap: CHF 16.3b

ON Semiconductor Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • 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 ON when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

CHF 46.75
Fair Value
16.9% undervalued intrinsic discount
30
Number of Analysts

Below Fair Value: ON (CHF38.86) is trading below our estimate of fair value (CHF46.75)

Significantly Below Fair Value: ON is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ON. This is calculated by dividing ON's market cap by their current earnings.
What is ON's PE Ratio?
PE Ratio63.6x
EarningsUS$319.10m
Market CapUS$20.29b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ON vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average47.6x
STMPA STMicroelectronics
38.7x37.74%€17.9b
2303 United Microelectronics
14.9x11.07%NT$592.6b
603986 GigaDevice Semiconductor
102.4x34.38%CN¥140.6b
603501 OmniVision Integrated Circuits Group
34.5x19.90%CN¥146.0b
ON ON Semiconductor
63.6x46.85%CHF 20.3b

Price-To-Earnings vs Peers: ON is expensive based on its Price-To-Earnings Ratio (63.6x) compared to the peer average (48.1x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ON 63.6xIndustry Avg. 36.5xNo. of Companies5PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ON is expensive based on its Price-To-Earnings Ratio (63.6x) compared to the European Semiconductor industry average (36.3x).

Price to Earnings Ratio vs Fair Ratio

What is ON'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.

ON PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio63.6x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate ON'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 ON forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 38.86
CHF 47.45
+22.10%
13.18%CHF 64.66CHF 32.33n/a30
Nov ’26n/a
CHF 46.70
0%
12.69%CHF 56.33CHF 32.19n/a30
Oct ’26n/a
CHF 45.85
0%
13.07%CHF 55.79CHF 31.88n/a30
Sep ’26n/a
CHF 46.51
0%
12.93%CHF 56.46CHF 32.26n/a30
Aug ’26n/a
CHF 46.32
0%
19.24%CHF 60.38CHF 26.57n/a30
Jul ’26n/a
CHF 41.47
0%
21.37%CHF 57.14CHF 26.15n/a30
Jun ’26n/a
CHF 39.86
0%
19.26%CHF 59.19CHF 27.09n/a29
May ’26n/a
CHF 44.72
0%
21.82%CHF 70.15CHF 31.36n/a27
Apr ’26n/a
CHF 53.23
0%
17.04%CHF 74.94CHF 37.91n/a27
Mar ’26n/a
CHF 54.58
0%
17.51%CHF 76.00CHF 38.45n/a28
Feb ’26n/a
CHF 71.69
0%
16.19%CHF 96.75CHF 49.73n/a29
Jan ’26n/a
CHF 76.67
0%
12.72%CHF 95.53CHF 49.10n/a29
Dec ’25n/a
CHF 76.91
0%
12.71%CHF 95.68CHF 49.18CHF 38.8629
Nov ’25n/a
CHF 74.30
0%
13.08%CHF 92.83CHF 47.72n/a27
Oct ’25n/a
CHF 72.95
0%
13.28%CHF 89.37CHF 50.58n/a27
Sep ’25n/a
CHF 74.87
0%
13.28%CHF 91.73CHF 51.92n/a27
Aug ’25n/a
CHF 76.58
0%
13.25%CHF 93.70CHF 53.04n/a27
Jul ’25n/a
CHF 75.67
0%
13.47%CHF 93.92CHF 49.67n/a28
Jun ’25n/a
CHF 75.94
0%
13.47%CHF 94.25CHF 49.84n/a28
May ’25n/a
CHF 76.83
0%
13.15%CHF 95.60CHF 50.56n/a28
Apr ’25n/a
CHF 78.93
0%
11.45%CHF 102.14CHF 53.29n/a28
Mar ’25n/a
CHF 78.16
0%
11.45%CHF 101.15CHF 52.77n/a28
Feb ’25n/a
CHF 75.54
0%
12.33%CHF 94.35CHF 51.46n/a28
Jan ’25n/a
CHF 75.27
0%
14.08%CHF 95.41CHF 52.04n/a28
Dec ’24n/a
CHF 76.97
0%
14.51%CHF 97.73CHF 53.31n/a27
CHF 45.23
Fair Value
14.1% undervalued intrinsic discount
30
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/12/02 17:27
End of Day Share Price 2025/12/02 00:00
Earnings2025/10/03
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

ON Semiconductor Corporation is covered by 49 analysts. 34 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
Romit ShahBarclays
David WilliamsBenchmark Company