Stock Analysis on Net

ON Semiconductor Corp. (NASDAQ:ON)

$22.49

This company has been moved to the archive! The financial data has not been updated since April 29, 2024.

Analysis of Revenues

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Revenues as Reported

ON Semiconductor Corp., income statement, revenues

US$ in thousands

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12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Distributors
Direct Customers
Sales

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).


Revenue Overview
The total sales revenue exhibited a significant upward trend from 2019 to 2022, increasing from approximately $5.52 billion to $8.33 billion. In 2023, there was a slight decrease to around $8.25 billion, indicating a stabilization following rapid growth.
Distributors Revenue
Revenue from distributors remained relatively stable around $3.17 billion in 2019 and 2020, followed by a notable increase in 2021 to $4.33 billion. This positive trajectory continued into 2022, reaching a peak near $4.81 billion. In 2023, there was a moderate decline to approximately $4.31 billion, though the value remained significantly higher than the initial years.
Direct Customers Revenue
Direct customer revenue showed variability in the early years, decreasing from $2.34 billion in 2019 to $2.09 billion in 2020. However, starting in 2021, there was a robust upward movement, with values rising to $2.41 billion, then sharply increasing to $3.52 billion in 2022, and further to $3.94 billion in 2023. This indicates a strengthening direct customer base and an important contributor to overall sales growth.
Summary of Trends
The sales growth from 2019 to 2022 was primarily driven by gains in both distributors and direct customer segments, with distributors recovering after stability in the initial years and direct customers showing strong growth after 2020. The slight decline in total sales and distributor revenue in 2023 suggests potential market adjustments or competitive pressures, although the direct customer segment continued to expand. Overall, the data reflects a successful expansion strategy, particularly through enhancing direct customer relationships, balanced by some recent moderation in distributor-related sales.