Current Ratio
since 2005
Calculation
ON Semiconductor Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 2.71 | = | 5,912,300) | ÷ | 2,183,600) |
| Dec 31, 2022 | 2.78 | = | 5,729,400) | ÷ | 2,061,400) |
| Dec 31, 2021 | 2.45 | = | 3,781,600) | ÷ | 1,543,400) |
| Dec 31, 2020 | 1.90 | = | 3,184,100) | ÷ | 1,674,500) |
| Dec 31, 2019 | 1.66 | = | 3,020,000) | ÷ | 1,818,400) |
| Dec 31, 2018 | 2.16 | = | 3,167,800) | ÷ | 1,469,300) |
| Dec 31, 2017 | 2.08 | = | 2,933,200) | ÷ | 1,408,900) |
| Dec 31, 2016 | 1.91 | = | 2,869,100) | ÷ | 1,502,600) |
| Dec 31, 2015 | 1.53 | = | 1,891,500) | ÷ | 1,239,300) |
| Dec 31, 2014 | 1.74 | = | 1,805,800) | ÷ | 1,040,800) |
| Dec 31, 2013 | 2.09 | = | 1,710,200) | ÷ | 819,200) |
| Dec 31, 2012 | 1.65 | = | 1,693,400) | ÷ | 1,024,300) |
| Dec 31, 2011 | 1.67 | = | 2,127,700) | ÷ | 1,275,500) |
| Dec 31, 2010 | 1.91 | = | 1,358,000) | ÷ | 710,900) |
| Dec 31, 2009 | 1.89 | = | 1,168,600) | ÷ | 619,000) |
| Dec 31, 2008 | 1.92 | = | 1,045,200) | ÷ | 544,000) |
| Dec 31, 2007 | 1.77 | = | 745,300) | ÷ | 420,900) |
| Dec 31, 2006 | 1.62 | = | 700,800) | ÷ | 433,000) |
| Dec 31, 2005 | 1.51 | = | 600,300) | ÷ | 398,300) |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The liquidity position of the organization has demonstrated a consistent long-term upward trajectory from 2005 through 2023. While the period was characterized by intermittent fluctuations, the overall trend indicates a substantial strengthening of short-term solvency and an increased capacity to meet current obligations.
- Current Asset Expansion
- A significant growth pattern is observed in current assets, which rose from 600.3 million USD in 2005 to 5.91 billion USD by the end of 2023. The most pronounced acceleration occurred between 2021 and 2022, during which current assets increased by approximately 1.95 billion USD, signaling a major accumulation of liquid resources.
- Current Liability Management
- Current liabilities grew from 398.3 million USD in 2005 to 2.18 billion USD in 2023. Although liabilities increased over the 18-year span, the rate of growth remained lower than that of current assets, particularly in the most recent triennium, which effectively expanded the liquidity buffer.
- Current Ratio Analysis
- The current ratio began at 1.51 in 2005 and reached a peak of 2.78 in 2022, ending 2023 at 2.71. The ratio experienced a period of instability between 2011 and 2015, reaching a localized minimum of 1.53 in 2015. Following this, a sustained recovery period took place, with the ratio surpassing the 2.00 threshold in 2017 and maintaining a significantly higher baseline from 2021 onwards, peaking at levels nearly double those seen in the earliest years of the analysis.
The convergence of rapidly increasing assets and more controlled liability growth since 2020 has resulted in a robust liquidity profile. The transition from a current ratio typically ranging between 1.50 and 2.00 in the first decade to a range above 2.40 in the final three years suggests a strategic shift toward a more conservative and liquid financial position.
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Comparison to Competitors
ON Semiconductor Corp., current ratio, long-term trends, comparison to competitors
| ON Semiconductor Corp. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Lam Research Corp. | Marvell Technology Inc. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 2.71 | 2.51 | 1.37 | 2.60 | 2.82 | 1.54 | 2.24 | 3.16 | 1.37 | 4.46 | 3.52 | 2.33 | 4.55 |
| Dec 31, 2022 | 2.78 | 2.36 | 2.02 | 2.16 | 2.62 | 1.57 | 2.50 | 2.69 | 1.80 | 2.89 | 6.65 | 1.75 | 4.70 |
| Dec 31, 2021 | 2.45 | 2.02 | 1.94 | 2.54 | 2.64 | 2.10 | 2.71 | 3.30 | 1.50 | 3.10 | 4.09 | 1.68 | 5.33 |
| Dec 31, 2020 | 1.90 | 2.54 | 1.84 | 3.00 | 1.87 | 1.91 | 2.78 | 3.43 | 2.16 | 2.71 | 7.67 | 2.14 | 4.28 |
| Dec 31, 2019 | 1.66 | 1.95 | 1.32 | 2.30 | 1.44 | 1.40 | 2.44 | 3.61 | 2.19 | 2.58 | 7.94 | 1.88 | 4.13 |
| Dec 31, 2018 | 2.16 | 1.78 | 1.50 | 2.64 | 3.90 | 1.73 | 3.73 | 2.90 | 5.61 | 2.79 | 8.03 | 1.55 | 3.27 |
| Dec 31, 2017 | 2.08 | 1.76 | 1.47 | 3.14 | 6.26 | 1.69 | 3.40 | 3.10 | 4.59 | 2.34 | 4.77 | 4.00 | 3.87 |
| Dec 31, 2016 | 1.91 | 1.88 | 6.35 | 2.30 | 2.31 | 1.75 | 3.86 | 3.81 | 2.38 | 1.96 | 2.57 | 3.14 | 3.29 |
| Dec 31, 2015 | 1.53 | 1.65 | 3.66 | 2.44 | 3.37 | 2.58 | 3.90 | 2.38 | 5.25 | 2.20 | 6.38 | 3.62 | 2.77 |
| Dec 31, 2014 | 1.74 | 1.90 | 5.38 | 2.47 | 3.77 | 1.73 | 5.12 | 3.02 | 4.36 | 2.13 | 5.95 | 3.73 | 2.92 |
| Dec 31, 2013 | 2.09 | 1.78 | 9.59 | 2.31 | 4.30 | 2.36 | 5.05 | 2.70 | 4.25 | 2.16 | 4.89 | 3.75 | 2.92 |
| Dec 31, 2012 | 1.65 | 1.62 | 8.94 | 2.25 | 4.89 | 2.43 | 4.83 | 3.09 | 5.22 | 2.57 | 4.20 | 2.95 | 2.40 |
| Dec 31, 2011 | 1.67 | 1.82 | 8.35 | 3.71 | 3.98 | 2.15 | 4.17 | 4.79 | 5.79 | 2.35 | 3.42 | 2.70 | 2.24 |
| Dec 31, 2010 | 1.91 | 2.15 | 5.41 | 2.34 | 1.92 | 3.39 | 3.67 | 3.14 | 4.35 | 2.34 | 3.16 | 2.22 | 3.56 |
| Dec 31, 2009 | 1.89 | 1.93 | 6.44 | 2.93 | 1.36 | 2.79 | 4.25 | 3.51 | 3.81 | 1.77 | 2.78 | 4.47 | 3.85 |
| Dec 31, 2008 | 1.92 | 1.07 | 3.67 | 2.26 | — | 2.54 | 3.19 | 3.01 | 2.58 | 2.36 | 2.99 | 5.12 | 3.78 |
| Dec 31, 2007 | 1.77 | 1.45 | 3.61 | 2.78 | — | 2.79 | 3.03 | 2.11 | 1.90 | 2.58 | 3.18 | 3.91 | 3.42 |
| Dec 31, 2006 | 1.62 | 1.39 | 6.13 | 2.50 | — | 2.15 | 3.53 | 3.01 | 4.51 | 3.07 | 3.53 | 4.96 | 3.78 |
| Dec 31, 2005 | 1.51 | 1.95 | 4.56 | 5.35 | — | 2.30 | 3.44 | 3.28 | 4.74 | 2.99 | 3.10 | 7.28 | 3.92 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Semiconductors & Semiconductor Equipment)
ON Semiconductor Corp., current ratio, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| ON Semiconductor Corp. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Dec 31, 2023 | 2.71 | 2.42 |
| Dec 31, 2022 | 2.78 | 2.33 |
| Dec 31, 2021 | 2.45 | 2.45 |
| Dec 31, 2020 | 1.90 | 2.46 |
| Dec 31, 2019 | 1.66 | 2.04 |
| Dec 31, 2018 | 2.16 | 2.34 |
| Dec 31, 2017 | 2.08 | 2.92 |
| Dec 31, 2016 | 1.91 | 2.38 |
| Dec 31, 2015 | 1.53 | 2.86 |
| Dec 31, 2014 | 1.74 | 2.61 |
| Dec 31, 2013 | 2.09 | 2.89 |
| Dec 31, 2012 | 1.65 | 2.80 |
| Dec 31, 2011 | 1.67 | 2.73 |
| Dec 31, 2010 | 1.91 | 2.92 |
| Dec 31, 2009 | 1.89 | 3.02 |
| Dec 31, 2008 | 1.92 | 2.79 |
| Dec 31, 2007 | 1.77 | 2.78 |
| Dec 31, 2006 | 1.62 | 2.74 |
| Dec 31, 2005 | 1.51 | 3.23 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Information Technology)
ON Semiconductor Corp., current ratio, long-term trends, comparison to industry (information technology)
| ON Semiconductor Corp. | Information Technology | |
|---|---|---|
| Dec 31, 2023 | 2.71 | 1.41 |
| Dec 31, 2022 | 2.78 | 1.37 |
| Dec 31, 2021 | 2.45 | 1.55 |
| Dec 31, 2020 | 1.90 | 1.71 |
| Dec 31, 2019 | 1.66 | 1.66 |
| Dec 31, 2018 | 2.16 | 1.88 |
| Dec 31, 2017 | 2.08 | 2.04 |
| Dec 31, 2016 | 1.91 | 2.01 |
| Dec 31, 2015 | 1.53 | 2.04 |
| Dec 31, 2014 | 1.74 | 1.98 |
| Dec 31, 2013 | 2.09 | 2.20 |
| Dec 31, 2012 | 1.65 | 2.08 |
| Dec 31, 2011 | 1.67 | 2.12 |
| Dec 31, 2010 | 1.91 | 2.02 |
| Dec 31, 2009 | 1.89 | 2.04 |
| Dec 31, 2008 | 1.92 | 1.80 |
| Dec 31, 2007 | 1.77 | 1.79 |
| Dec 31, 2006 | 1.62 | 1.86 |
| Dec 31, 2005 | 1.51 | 2.02 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).