Calculated
DCF
Free cash flow, growth, discount rate, and terminal growth form an intrinsic value range.
75.70 USD130.08 USD175.12 USD
-20.66%
130.08 USDCurrent price is 20.7% below the base model value.
O
TechnologySemiconductorsUnited States
ON Semiconductor Corporation (ON) Valuation Assumptions
Review ON Semiconductor Corporation (ON) valuation assumptions across intrinsic value, DCF, reverse DCF implied growth, EV/EBITDA, P/FCF, and financial trends.
NMS · US · USD
Latest price103.20 USD
30D+55.23%
Price vs model median+275%Model median is the median base output from applicable absolute models, excluding Reverse DCF.
Quick answer
What growth is the market currently pricing into ON?
At 103.20 USD, TickerVal's reverse DCF setup implies roughly 12.9% annual FCF growth for 10 years for ON, using the current normalized FCF base, a 9.5% discount rate, and 3.0% terminal growth. The rest of the page shows valuation assumptions, model differences, and source-data context for research reference.
What price implies
What does the current price imply?
At 103.20 USD, the model implies roughly 12.91% annual FCF growth for 10 years, with required long-term operating margin near 23.71% and terminal growth around 3%. This module is a research reference.
Implied FCF CAGR12.91%
10-year Reverse DCF scenario
Required long-term operating margin23.71%
Five-year median × 0.95
Implied terminal growth3%
From current model assumptions
Discount rate assumption9.5%
Estimated from current sector rules
Adjust assumptions+
Adjust assumptions
Move assumptions to see how the current price implied conditions change.
Forecast horizon10Y
Historical implied expectations
How does today's implied growth compare with history?
Calculated from selected historical prices and current normalized FCF assumptions, not a full point-in-time backtest.
Current implied FCF CAGR12.9%
5Y monthly median6.29%
Current vs 5Y median+6.61 pts
Showing 8 of 13 report price anchors
| Report price anchor | Price date | Anchor price | Implied FCF CAGR |
|---|---|---|---|
| Q1-2026 | 2026/04/06 | 63.49 USD | 6.47% |
| Q1-2026 | 2026/03/31 | 61.92 USD | 6.13% |
| FY2025 | 2025/12/31 | 54.15 USD | 4.35% |
| Q3-2025 | 2025/10/03 | 49.27 USD | 3.09% |
| Q2-2025 | 2025/07/07 | 54.61 USD | 4.47% |
| Q1-2026 | 2025/04/04 | 33.70 USD | -2.03% |
| Q1-2025 | 2025/03/31 | 40.69 USD | 0.53% |
| FY2024 | 2024/12/31 | 63.05 USD | 6.38% |
20267.08%
Avg 8.88% · Samples 5
20253.25%
Avg 2.85% · Samples 12
20248.11%
Avg 8.18% · Samples 12
202310.01%
Avg 9.93% · Samples 12
Historical valuation multiples
How have EV/EBITDA and P/FCF changed over the last 5 years?
Annual fiscal-period anchored: month-end prices are paired with the most recent annual fiscal period ending on or before each date, covering the last 5 years (61 monthly samples). Multiples are research references; financial-sector or otherwise non-comparable companies require sector-specific context.
P/E
Market cap divided by reported net income (annual fiscal-period snapshot).
351x
Above history · P99
Current5Y medianTypical range IQR
5Y median19.7x
Current351x · P99
5Y low 10.92xCurrent vs median+1,683%5Y high 351x
IQR 14.76–29.86x · 61 monthly samples
P/FCF
Market cap divided by reported free cash flow.
29.87x
Near median · P71
Current5Y medianTypical range IQR
5Y median22.13x
Current29.87x · P71
5Y low 13.51xCurrent vs median+35%5Y high 84.78x
IQR 17.92–31.22x · 61 monthly samples
EV/EBITDA
Enterprise value (market cap + debt − cash) divided by EBITDA.
56.26x
Above history · P99
Current5Y medianTypical range IQR
5Y median12.95x
Current56.26x · P99
5Y low 7.4xCurrent vs median+334%5Y high 56.26x
IQR 10.37–16.91x · 61 monthly samples
Month-end historical multiples
A date-friendly view for historical EV/EBITDA, P/FCF, and P/E queries.
Showing 8 of 61 month-end samples
| Month-end | Price | P/E | P/FCF | EV/EBITDA | Fiscal period used |
|---|---|---|---|---|---|
| 2026-05-08 | 103.20 USD | 351x | 29.87x | 56.26x | 2025-12-31 |
| 2026-04-30 | 100.81 USD | 343x | 29.18x | 54.98x | 2025-12-31 |
| 2026-03-31 | 61.92 USD | 211x | 17.92x | 34.19x | 2025-12-31 |
| 2026-02-27 | 66.48 USD | 226x | 19.24x | 36.63x | 2025-12-31 |
| 2026-01-30 | 59.89 USD | 204x | 17.34x | 33.1x | 2025-12-31 |
| 2025-12-31 | 54.15 USD | 184x | 15.67x | 30.03x | 2025-12-31 |
| 2025-11-28 | 50.24 USD | 13.82x | 17.1x | 9.29x | 2024-12-31 |
| 2025-10-31 | 50.08 USD | 13.78x | 17.04x | 9.26x | 2024-12-31 |
Valuation overview
How do the valuation assumptions fit together?
ON Semiconductor Corporation (ON) valuation on TickerVal is designed to help readers understand the operating expectations embedded in the current market price. At 103.20 USD, the page brings intrinsic value analysis, DCF outputs, reverse DCF implied growth, EV/EBITDA, P/FCF, and valuation assumptions into one research view within the Technology sector and the Semiconductors industry. Instead of treating one model as a final answer, TickerVal compares cash-flow, earnings-power, balance-sheet, and relative-multiple lenses so the differences between models are visible. The reverse DCF view currently shows implied growth of 12.9%, while the model median reference sits at +275% versus the current price. The DCF and reverse DCF sections focus on free cash flow, discount rate, terminal growth, and the long-term growth path implied by the current price. EV/EBITDA and P/FCF provide additional context for capital structure and cash-flow multiples. The financial trends section connects those valuation assumptions back to reported revenue of 6B USD, free cash flow of 1B USD, margins, and balance-sheet facts from public filings. Readers can use the layout to compare assumptions across models before reviewing the underlying source data. This page is intended for transparent research reference, model review, and assumption checking.
Valuation model range vs. current price
Each row shows a model output range, with a vertical line for the current price.
DCFCalculated
75.70 USD-175.12 USD
Earnings Power ValueCalculated
27.53 USD-27.53 USD
Graham NumberCalculated · Limited reference
11.03 USD-11.03 USD
Owner EarningsCalculated · Limited reference
66.72 USD-139.31 USD
Current price reference line
Why do valuation models give different answers?
Different models rely on different financial facts. The status blocks show which lenses fit this page data.
| Model | Fit | Context |
|---|---|---|
| DCF | Suitable | Useful when recurring free cash flow history exists; sensitive to growth and discount assumptions. |
| Owner Earnings | Limited | Latest owner-earnings proxy is an outlier, so this is a limited scenario reference. |
| Reverse DCF | Suitable | Shows the FCF growth implied by current price under stated assumptions. |
| Earnings Power Value | Suitable | Useful for mature operating profit, with limited emphasis on growth. |
| Graham Number | Limited | Works best when EPS and book value are both positive. |
| Dividend Discount Model | Not meaningful | Needs explicit dividend history, which is not included in the current version. |
| Net-Net Liquidation Value | Not meaningful | Requires current asset and liability detail beyond the current data set. |
| PEG | Limited | A quick growth multiple lens when EPS history is positive. |
| EV/EBITDA | Limited | Useful for capital structure context when operating profit is available. |
| P/FCF | Limited | A compact free-cash-flow multiple view for positive FCF years. |
| P/B | Limited | More useful for asset-heavy balance sheets than asset-light companies. |
| P/S | Limited | A revenue multiple lens when profit or FCF is not stable. |
| Peer Comparison | Not meaningful | Standardized peer comparisons are not included in the current version. |
Which valuation models are being calculated?
Hover each model row to inspect formulas and inputs.
Current price103.20 USD
Model median reference27.53 USD
Price vs model median+275%
Price date2026/05/08
27.53 USD27.53 USD27.53 USD
+275%
Calculated
Owner Earnings
Uses net income, D&A, and capex as an owner-earnings proxy.
66.72 USD107.24 USD139.31 USD
107.24 USDThis model is a limited scenario reference for this sector.Adjusted reference: 93.41 USD
Calculated
Reverse DCF
Solves the forward FCF growth rate implied by the current price.
Implied growth12.9%
Current price implies roughly 12.9% annualized FCF growth.
12.9%Current price implies roughly 12.9% annualized FCF growth.
Calculated
Earnings Power Value
Estimates earnings power value without assuming growth.
27.53 USD27.53 USD27.53 USD
+275%
27.53 USDCurrent price is 274.8% above the base model value.
Updated: 2026/05/10
Which financial trends support the assumptions?
Annual financial metrics with switchable views. · Unit: USD
FY2025 · Dec 2025 report14 records
Revenue6B USD
Net income121M USD
Free cash flow1B USD
CapEx341M USD
Operating cash flow2B USD
Valuation basis and non-recurring items
Collapsed by default. Expand to inspect structured one-time items and adjusted figures without making them the primary page focus.
ExpandCollapse
Valuation basis and non-recurring items
Collapsed by default. Expand to inspect structured one-time items and adjusted figures without making them the primary page focus.
A positive amountAfterTax means the item increased reported net income; a negative value means it reduced reported net income. Adjusted net income = reported net income minus total after-tax impact. Valuation defaults to reported figures; adjusted figures are shown to observe one-time-item impact.
| Period | Item | Category | After-tax impact | Confidence |
|---|---|---|---|---|
| 2025/12/31 | Asset impairment | Impairment | -437M USD | Medium |
| 2025/12/31 | Asset sale gain/loss | Asset sale gain/loss | -14M USD | Medium |
| 2025/12/31 | Business sale gain/loss | Asset sale gain/loss | -553K USD | Medium |
| 2024/12/31 | Asset impairment | Impairment | -18M USD | Medium |
| 2024/12/31 | Asset sale gain/loss | Asset sale gain/loss | 26M USD | Medium |
| 2024/12/31 | Business sale gain/loss | Asset sale gain/loss | 53M USD | Medium |
| 2023/12/31 | Asset impairment | Impairment | -3M USD | Medium |
| 2023/12/31 | Business sale gain/loss | Asset sale gain/loss | 8M USD | Medium |
| 2022/12/31 | Asset impairment | Impairment | -14M USD | Medium |
| 2022/12/31 | Restructuring charges | Restructuring | -62M USD | Medium |
| 2021/12/31 | Asset impairment | Impairment | -3M USD | Medium |
| 2021/12/31 | Litigation settlement | Litigation | -134M USD | Medium |
| 2021/12/31 | Restructuring charges | Restructuring | -41M USD | Medium |
| 2026/04/03 | Asset impairment | Impairment | -116M USD | Medium |
| 2026/04/03 | Asset sale gain/loss | Asset sale gain/loss | 869K USD | Medium |
| 2026/04/03 | Restructuring charges | Restructuring | -16M USD | Medium |
| 2026/03/31 | Restructuring and merger costs | Restructuring | -260M USD | Medium |
| 2026/03/31 | Special income/charges | Other | -260M USD | Medium |
| 2025/10/03 | Asset impairment | Impairment | -398M USD | Medium |
| 2025/10/03 | Asset sale gain/loss | Asset sale gain/loss | 6M USD | Medium |
| 2025/10/03 | Restructuring charges | Restructuring | -53M USD | Medium |
| 2025/07/04 | Asset impairment | Impairment | -405M USD | Medium |
| 2025/07/04 | Asset sale gain/loss | Asset sale gain/loss | 5M USD | Medium |
| 2025/07/04 | Restructuring charges | Restructuring | -50M USD | Medium |
| 2025/04/04 | Asset impairment | Impairment | -341M USD | Medium |
| 2025/04/04 | Asset sale gain/loss | Asset sale gain/loss | -158K USD | Medium |
| 2025/04/04 | Restructuring charges | Restructuring | -48M USD | Medium |
| 2025/03/31 | Restructuring and merger costs | Restructuring | -426M USD | Medium |
| 2025/03/31 | Special income/charges | Other | -426M USD | Medium |
| 2024/09/27 | Asset impairment | Impairment | -12M USD | Medium |
| 2024/09/27 | Asset sale gain/loss | Asset sale gain/loss | -4M USD | Medium |
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Which reported financials feed the models?
Financial DetailsShowing latest 5 / 14
| Period | Type | Revenue | Net Income | Adjusted net income | Free Cash Flow | Diluted EPS | Adjusted EPS |
|---|---|---|---|---|---|---|---|
| 2025/12/31 | Annual | 6B USD | 121M USD | 573M USD | 1B USD | 0.29 | 1.37 |
| 2024/12/31 | Annual | 7B USD | 2B USD | 2B USD | 1B USD | 3.63 | 3.49 |
| 2023/12/31 | Annual | 8B USD | 2B USD | 2B USD | 416M USD | 4.89 | 4.88 |
| 2022/12/31 | Annual | 8B USD | 2B USD | 2B USD | 2B USD | 4.25 | 4.42 |
| 2021/12/31 | Annual | 7B USD | 1B USD | 1B USD | 1B USD | 2.27 | 2.67 |
Where does this data come from?
Open to inspect field-level SEC EDGAR source, filing form, and derived notes.
SEC EDGAR
Where does this data come from?
Open to inspect field-level SEC EDGAR source, filing form, and derived notes.
Frequently asked questions
Quick notes on price-implied expectations, model differences, and source data.
What is ON Semiconductor Corporation's intrinsic value?
ON Semiconductor Corporation's intrinsic value on TickerVal is reviewed through DCF outputs, reverse DCF implied growth, EV/EBITDA, P/FCF, valuation assumptions, and financial trends from public filings.
How is ON valued on TickerVal?
TickerVal values ON by comparing intrinsic value models, DCF and reverse DCF assumptions, cash-flow multiples, earnings-power references, and reported financial trends.
What does the current stock price imply?
The reverse DCF view estimates the free-cash-flow growth path implied by the current stock price under stated discount-rate and terminal-growth assumptions.
Which valuation models are used?
TickerVal uses DCF, reverse DCF, Owner Earnings, EPV, Graham Number, EV/EBITDA, P/FCF, P/B, P/S, and other model references where the underlying data is available.
Is this investment advice?
No. TickerVal does not provide investment advice, ratings, price targets, or buy/sell recommendations.
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