Statement of Comprehensive Income
Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
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- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
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ON Semiconductor Corp., consolidated statement of comprehensive income
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).
The financial data reveals a substantial upward trend in net income over the five-year period, increasing from 213.9 million USD in 2019 to 2.186 billion USD in 2023. This represents a pronounced growth trajectory, particularly notable between 2020 and 2021, and continuing through to 2023.
Foreign currency translation adjustments exhibit considerable volatility, with positive values in the earliest years (100 thousand USD in 2019 and 1.8 million USD in 2020), followed by negative adjustments in subsequent years, reaching as low as -6 million USD in 2022 before a partial recovery to -2.1 million USD in 2023. This suggests fluctuating foreign exchange impacts on the company's financials across the periods.
The effects of cash flow hedges also show significant fluctuation. A negative impact is observed in 2019 and 2020 (-16.5 million USD and -5.1 million USD respectively), shifting to a positive impact in 2021 and 2022 (20.8 million USD and 23.4 million USD), before returning to a negative figure of -19.9 million USD in 2023. This variability indicates an active and changing hedging strategy with material effects on financial results year over year.
Other comprehensive income, net of tax, mirrors the trends observed in foreign currency translation and cash flow hedges, displaying negative values in 2019 and 2020, switching to positive results in 2021 and 2022, and reverting to a negative outcome in 2023 (-22 million USD). This pattern reflects the combined volatility of other comprehensive income components affecting overall equity.
Comprehensive income trends closely follow net income, with a consistent and sizable increase from 197.5 million USD in 2019 to 2.1636 billion USD in 2023. The comprehensive income attributable to non-controlling interest remains relatively stable in negative territory, ranging between -2.2 million USD and -1.9 million USD over the years, which slightly offsets the total comprehensive income attributable to the corporation.
Overall, the comprehensive income attributable to ON Semiconductor Corporation shows a strong growth pattern, rising from 195.3 million USD in 2019 to 2.1617 billion USD in 2023, reflecting the strong profitability and favorable trends despite some volatility in currency translation and hedging results.
- Net Income
- Strong growth trend, increasing approximately tenfold from 2019 to 2023.
- Foreign Currency Translation Adjustments
- Highly volatile, shifting from small positive adjustments early on to larger negative impacts in later years.
- Effects of Cash Flow Hedges
- Fluctuating cash flow hedge results, alternating between negative and positive impacts across the years.
- Other Comprehensive Income (Net of Tax)
- Varies in line with currency and hedging changes, showing both gains and losses over the period.
- Comprehensive Income
- Strong upward trajectory aligned with net income increases, dominated by sizeable growth in earnings.
- Comprehensive Income Attributable to Non-controlling Interest
- Relatively stable negative impact, marginally detracting from total comprehensive income attributable to the corporation.