ON Semiconductor Corporation (ON)

FairStock Score: 50/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach ON as a cyclical semiconductor supplier, and the filed record demands humility. FairStock's computed Lynch category is cyclical—semiconductors: earnings follow the economic cycle—and that fits. In fiscal Q2 2026, the quarter ended 2026-07-03, revenue was $1.6B, net income $226.8M, and diluted EPS $0.56, a sharp swing from fiscal Q1 2026, the quarter ended 2026-04-03, when net income was -$33.4M and EPS -$0.08. But the annual picture is weak: fiscal year 2025, ended 2025-12-31, had revenue $6.0B, net income $121.0M, and EPS $0.29, versus fiscal year 2024, ended 2024-12-31, revenue $7.1B, net income $1.6B, and EPS $3.63. That is exactly the cyclical earnings volatility Graham warned about.

In plain English: ON Semiconductor makes chips that help control power and sense things in electronics and vehicles. The business looks weaker than it did a couple of years ago: fiscal 2025 sales and profits were well below fiscal 2024, although the latest filed quarter was profitable. At the 2026-10-26 close of $74.06, the shares look expensive compared with recent profits and the value of the company's net assets.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-26 close · note generated 2026-10-28 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-07-03) · fiscal Q1 2026 10-Q (period ended 2026-04-03) · fiscal Q3 2025 10-Q (period ended 2025-10-03) · fiscal Q2 2025 10-Q (period ended 2025-07-04) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer