ON · Intrinsic value
Is ON Semiconductor Corporation (ON) overvalued or undervalued?
As of Oct 21, 2026, TickerWorth's valuation lenses put ON Semiconductor Corporation (ON) at $6.68 – $136.34, too broad a range to say where the delayed market price of $75.62 sits in it, so we do not call it over- or undervalued. It is a model estimate, and every input behind it is sourced below.
Model by Miraaj Patel · generated from SEC filings and market data · Updated Oct 21, 2026 · How these pages are made
What is ON worth?
- Fair-value range
- $6.68 – $136.34
- Market price
- $75.62
- Gap to fair value
- —
- Verdict
- Too wide to call
Reverse DCF: Today's price implies revenue growth of more than 25%/yr. Above about 25% a year the reverse-DCF stops being informative. It solves for revenue growth alone — holding margins, capital intensity and the forecast horizon fixed — so a price well above our cash-flow model's value has nowhere to go but growth, and the solver returns a rate the model can't reconcile. Read it as "the price implies growth we can't justify", not as a forecast.
What is ON's TickerWorth Score?
Middle of the pack — real strengths and real weaknesses
Compared with Technology companies in US
Its strongest point: looks cheap on the numbers. Its weakest: trades above our estimate of what it's worth.
- Value · 59 of 100
Cheaper than 59% of Technology companies in US
- Price vs worth · 29 of 100
- Quality · 45 of 100
More profitable than 45% of Technology companies in US
- Financial health · 54 of 100
Financially stronger than 54% of Technology companies in US
- Growth · 56 of 100
Growing faster than 56% of Technology companies in US
- Momentum · 32 of 100
Outperformed 32% of Technology companies in US over the past year
Confidence: Low confidence · Scored
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Why ON gets a range, not one number
At a recent price of $75.62, ON Semiconductor Corporation (ON) sits inside a range too wide to call either way: our valuation lenses put the business somewhere between $6.68 and $136.34 per share. They disagree too widely for us to state a single fair value. We publish the range rather than a midpoint because a number that precise would claim more than the methods can support. This is an educational model, not a price target or a recommendation.
Read the full reasoning
The valuation discounts ON Semiconductor Corporation's projected free cash flows at a weighted-average cost of capital (WACC) of 13.4%, with a long-run terminal growth rate of 2.5%. About 74% of the enterprise value comes from the terminal value — the portion beyond the explicit forecast window — which is typical for a stable, cash-generative business and a reminder that small changes in the discount rate or terminal growth assumption swing the intrinsic value meaningfully.
Running the DCF in reverse — solving for the growth the current price already assumes — ON would need sustained revenue growth of more than 25%/yr to justify today's price, against about 4.4% a year compounded in our base case. We don't quote a precise figure here, because past about 25% a year the reverse-DCF stops being informative: it solves for revenue growth alone, holding margins, capital intensity and the forecast horizon fixed, so a price well above our fair value has nowhere to go but growth. The honest reading is that the price implies growth this model can't reconcile — not that we forecast it.
Sensitivity matters more than any single number. Across a reasonable band of discount-rate assumptions, ON's modeled DCF value ranges from about $4.99 to $9.37 per share. If that range still sits below today's price, the market is optimistic relative to the model across the whole band; if it brackets the price, the stock is roughly fairly valued on our assumptions. Use the interactive slider to see exactly where your own cost-of-capital view lands.
How to read this page: the DCF fair value is what ON Semiconductor Corporation would be worth if its cash flows grow as modeled and are discounted at the stated WACC. The assumptions table shows every input and its source; the reverse-DCF shows what the market believes; the sensitivity band shows how fragile the answer is. None of this is investment advice — it is a transparent, auditable framework for forming your own view of ON's intrinsic value. Figures update as new filings and prices come in.
Every input behind ON's DCF
| Input | Value |
|---|---|
| Base-year revenueON SEMICONDUCTOR CORPORATION FY2025 10-K (accession 0001097864-26-000006): us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, FY2025 full year. | $5,995,400,000 |
| Base EBIT marginON SEMICONDUCTOR CORPORATION FY2025 10-K (accession 0001097864-26-000006): us-gaap:OperatingIncomeLoss 84,200,000 / revenue 5,995,400,000 = 1.40%, FY2025. | 1.4% |
| Forecast revenue growthESTIMATEAssumption — TickerWorth's 5-year explicit forecast | 5% → 5% → 4% → 4% → 4% |
| Risk-free rateLive feed — US 10-year Treasury yield (^TNX) | 5.3% |
| BetaLive feed — yfinance, 5-year monthly beta vs the S&P 500 (clamped to 0.4–2.5) | 2.00 |
| Terminal growthESTIMATEAssumption — TickerWorth house default 2.5%, held below WACC | 2.5% |
| Diluted sharesON SEMICONDUCTOR CORPORATION FY2025 10-K (accession 0001097864-26-000006): WeightedAverageNumberOfDilutedSharesOutstanding = 411,800,000 shares, FY2025. | 412M |
| Market priceBackup price feed · as of 2026-10-21 00:02 UTC | $75.62 |
Change ON's assumptions
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What does ON Semiconductor Corporation do?
What does it do?
ON Semiconductor Corporation provides intelligent sensing and power solutions in Hong Kong, Singapore, the United Kingdom, the United States, and internationally. It operates through three segments: Power Solutions Group, Analog and Mixed-Signal Group, and Intelligent Sensing Group. It operates in the Semiconductors industry (Technology sector), headquartered in United States. The company employs roughly 22,600 people.
How does it make money?
The business turns $6.0B in annual revenue into profit. Out of every $100 of sales, about $20 is left as operating profit (operating margin of 19.5%), after a 43% gross margin on the products/services it sells. After all costs, taxes and interest, 10.2% of revenue becomes bottom-line net profit.
Is it financially healthy?
Financially it looks solid: carries modest debt (0.7× equity), comfortably covers its short-term bills (3.5× current ratio), and is currently profitable.
Who at ON filed insider trades?
| Date | Insider | Relationship | What happened | Value | Filing |
|---|---|---|---|---|---|
| MASCARENAS PAUL ANTHONY | Director | Grant / award | $10,696.14 | Form 4 for MASCARENAS PAUL ANTHONY (opens sec.gov in a new tab) | |
| GOPALSWAMY SUDHIR | Group President, AMG & ISG | Open-market sale | $1,246,240.00 | Form 4 for GOPALSWAMY SUDHIR (opens sec.gov in a new tab) | |
| MASCARENAS PAUL ANTHONY | Director | Grant / award | $10,581.52 | Form 4 for MASCARENAS PAUL ANTHONY (opens sec.gov in a new tab) | |
| GOPALSWAMY SUDHIR | Group President, AMG & ISG | Shares withheld (tax) | $59,690.00 | Form 4 for GOPALSWAMY SUDHIR (opens sec.gov in a new tab) | |
| Deitrich Thomas | Director | Grant / award | — | Form 4 for Deitrich Thomas (opens sec.gov in a new tab) | |
| WATERS GREGORY L | Director | Grant / award | — | Form 4 for WATERS GREGORY L (opens sec.gov in a new tab) |
A disclosure, not a signal to trade. Source: SEC EDGAR (Form 4). Older filings and the 90-day buying-and-selling read are part of Pro. See plans
Common questions
What is ON's intrinsic value?
TickerWorth's valuation lenses put ON Semiconductor Corporation (ON) between $6.68 and $136.34 per share, versus a market price of $75.62. They disagree too widely for us to state a single fair value, so we publish the range.
Is ON overvalued or undervalued?
At $75.62 the price sits inside a range too wide to call either way. We don't call ON overvalued or undervalued from a range this wide. This is an educational estimate, not advice.
What discount rate is used for ON?
A WACC of 13.4% and a terminal growth rate of 2.5%.
Is ON Semiconductor stock undervalued?
TickerWorth's fair-value range for ON Semiconductor Corporation (ON) is $6.68 – $136.34 against a market price of $75.62. Too wide to call. We publish a range here, not one number, so we do not call it over- or undervalued. This is a model estimate, not investment advice.
ON Semiconductor (ON) DCF valuation and fair value
Our fair-value range for ON Semiconductor Corporation (ON) is $6.68 – $136.34, built on a 13.4% discount rate (WACC) and 2.5% terminal growth. It blends our discounted-cash-flow model with other valuation lenses. Every assumption is listed on this page with its source.
What growth is priced into ON Semiconductor stock?
Today's price implies revenue growth of more than 25%/yr. Above about 25% a year the reverse-DCF stops being informative. It solves for revenue growth alone — holding margins, capital intensity and the forecast horizon fixed — so a price well above our cash-flow model's value has nowhere to go but growth, and the solver returns a rate the model can't reconcile. Read it as "the price implies growth we can't justify", not as a forecast. This is a reverse DCF: it holds our cash-flow model's other inputs and solves for the revenue growth that makes the model equal today's price of $75.62. A model estimate, not investment advice.
ON Semiconductor (ON) insider trading
The most recent insider filing (SEC Form 4) for ON Semiconductor Corporation (ON): MASCARENAS PAUL ANTHONY, Director, grant / award on 2026-10-02. The latest filings are listed on this page. A disclosure, not a signal to trade.
Other ways into the coverage
Not investment advice. TickerWorth Score is a model output.
Educational tool. Every output reflects the assumptions shown — not a prediction and not investment advice. TickerWorth is not a licensed investment adviser, and these figures are estimates from public filings and market data that can be wrong.
Save this valuation
ON goes on your watchlist, where its valuation is re-run as new filings land — so you read the current number, not the one from today.