Cash Flow Statement
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Return on Assets (ROA) since 2005
- Price to Sales (P/S) since 2005
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ON Semiconductor Corp., consolidated cash flow statement
US$ in thousands
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).
- Net income trend
- Net income demonstrated a strong upward trajectory over the five-year period, increasing from $213.9 million in 2019 to $2.1856 billion in 2023. Notably, there was a significant jump between 2020 and 2021, followed by continued growth through 2023.
- Depreciation and amortization
- This expense category remained relatively steady, fluctuating slightly around the $550 million to $630 million range, with a slight dip in 2022 before rising again in 2023.
- Non-operating gains and losses
- There were occasional gains and losses related to sales or disposals of fixed assets and divestitures, with notable losses on divestitures in 2022. Additionally, loss on debt refinancing was present in several years, especially in 2021.
- Share-based compensation
- Share-based compensation increased moderately from $79.4 million in 2019 to $121.1 million in 2023, indicating a gradual rise in employee incentive costs.
- Impairment charges
- Non-cash asset impairment charges showed some volatility, generally increasing over the period, culminating in a substantial goodwill and intangible asset impairment charge of $386.8 million in 2022.
- Deferred tax balances
- The change in deferred tax balances fluctuated widely, with large negative changes in 2020 and 2023, which may have impacted tax expense and cash flow dynamics in those years.
- Working capital components
- Receivables and inventories shifted notably, with both showing large negative changes especially in later years, indicating either write-downs, inventory adjustments, or collection challenges. Accounts payable and accrued expenses also fluctuated, reflecting changes in payment patterns and short-term obligations.
- Operating cash flows
- Net cash provided by operating activities exhibited strong growth, peaking at $2.633 billion in 2022 before decreasing slightly to $1.9775 billion in 2023, indicating robust cash generation capacity despite some volatility.
- Investing cash flows
- Cash used in investing activities was consistently negative, with significant capital expenditures, particularly increasing in 2022 and 2023, suggesting major investments in property, plant, and equipment. Acquisitions showed variability, with large outflows in earlier years and smaller amounts later on.
- Financing activities
- Net cash used in financing activities varied, turning negative in most years except 2019. There was substantial issuance of debt in 2023 and prior years, balanced by considerable repayment in all periods. Share repurchases were notable in 2022 and 2023, reflecting capital return strategies. Proceeds from stock issuances were relatively stable but modest in comparison to debt activities.
- Cash position
- Cash, cash equivalents, and restricted cash increased significantly in 2022 to $2.933 billion, before declining to $2.485 billion in 2023. The net increases and decreases in cash were influenced heavily by operating, investing, and financing activities, with the large investing outflows in 2023 contributing to the cash reduction.