Debt to Equity
since 2005
Calculation
ON Semiconductor Corp., debt to equity, long-term trends, calculation
| Debt to equity | = | Long-term debt and financing lease liabilities, including current portion1 | ÷ | Total ON Semiconductor Corporation stockholders’ equity (deficit)1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 0.43 | = | 3,359,800) | ÷ | 7,782,600) |
| Dec 31, 2022 | 0.52 | = | 3,230,700) | ÷ | 6,188,500) |
| Dec 31, 2021 | 0.68 | = | 3,097,500) | ÷ | 4,585,400) |
| Dec 31, 2020 | 0.99 | = | 3,491,300) | ÷ | 3,538,500) |
| Dec 31, 2019 | 1.09 | = | 3,612,500) | ÷ | 3,301,700) |
| Dec 31, 2018 | 0.87 | = | 2,766,100) | ÷ | 3,171,600) |
| Dec 31, 2017 | 1.06 | = | 2,951,800) | ÷ | 2,778,800) |
| Dec 31, 2016 | 1.99 | = | 3,622,300) | ÷ | 1,823,200) |
| Dec 31, 2015 | 0.87 | = | 1,393,900) | ÷ | 1,608,200) |
| Dec 31, 2014 | 0.73 | = | 1,192,600) | ÷ | 1,626,500) |
| Dec 31, 2013 | 0.65 | = | 942,200) | ÷ | 1,454,000) |
| Dec 31, 2012 | 0.74 | = | 1,011,900) | ÷ | 1,361,100) |
| Dec 31, 2011 | 0.82 | = | 1,207,000) | ÷ | 1,468,200) |
| Dec 31, 2010 | 0.65 | = | 888,800) | ÷ | 1,366,000) |
| Dec 31, 2009 | 0.95 | = | 933,500) | ÷ | 985,000) |
| Dec 31, 2008 | 1.72 | = | 1,169,300) | ÷ | 678,700) |
| Dec 31, 2007 | 72.92 | = | 1,159,400) | ÷ | 15,900) |
| Dec 31, 2006 | — | = | 1,176,000) | ÷ | (225,400) |
| Dec 31, 2005 | — | = | 1,067,000) | ÷ | (300,300) |
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 financial structure of the organization has undergone a significant transformation between 2005 and 2023, evolving from a position of equity deficit to a robust capital base with steadily declining relative leverage.
- Equity Position Evolution
- A period of negative stockholders' equity was observed in 2005 and 2006. Equity transitioned to a positive balance in 2007 and exhibited consistent growth over the subsequent sixteen years, increasing from 15.9 million US dollars in 2007 to 7.78 billion US dollars by the end of 2023.
- Debt Dynamics
- Long-term debt and financing lease liabilities remained relatively stable, generally staying below 1.4 billion US dollars through 2015. A substantial increase occurred in 2016, with debt rising to 3.62 billion US dollars. Following this surge, debt levels remained elevated but stabilized, fluctuating between 2.77 billion and 3.61 billion US dollars from 2017 through 2023.
- Debt to Equity Ratio Analysis
- The debt to equity ratio exhibited extreme volatility in 2007, reaching 72.92 as a result of a very small positive equity base. Following this, the ratio normalized and remained relatively stable between 0.65 and 0.87 through 2015. A secondary peak occurred in 2016 at 1.99, directly correlating with the increase in long-term debt. From 2017 onward, a sustained downward trend is observed, with the ratio decreasing to 0.43 by 2023. This trajectory indicates a significant improvement in solvency and a reduced reliance on borrowed capital relative to equity.
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Comparison to Competitors
ON Semiconductor Corp., debt to equity, 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 | 0.43 | 0.04 | 0.20 | 0.34 | 1.64 | 0.47 | 2.02 | 0.61 | 0.29 | 0.30 | 0.50 | 0.71 | 0.66 |
| Dec 31, 2022 | 0.52 | 0.05 | 0.18 | 0.45 | 1.74 | 0.41 | 4.75 | 0.80 | 0.29 | 0.14 | 0.41 | 0.86 | 0.60 |
| Dec 31, 2021 | 0.68 | 0.04 | 0.18 | 0.45 | 1.59 | 0.40 | 1.02 | 0.83 | 0.14 | 0.15 | 0.41 | 1.58 | 0.58 |
| Dec 31, 2020 | 0.99 | 0.06 | 0.43 | 0.52 | 1.72 | 0.45 | 1.30 | 1.12 | 0.17 | 0.17 | 0.16 | 2.59 | 0.74 |
| Dec 31, 2019 | 1.09 | 0.17 | 0.47 | 0.65 | 1.32 | 0.37 | 1.29 | 0.96 | 0.24 | 0.16 | 0.21 | 3.25 | 0.65 |
| Dec 31, 2018 | 0.87 | 0.99 | 0.58 | 0.78 | 0.66 | 0.35 | 1.38 | 0.37 | 0.00 | 0.14 | 0.27 | 17.64 | 0.56 |
| Dec 31, 2017 | 1.06 | 2.28 | 0.77 | 0.57 | 0.87 | 0.39 | 2.21 | 0.40 | 0.00 | 0.60 | 0.48 | 0.71 | 0.39 |
| Dec 31, 2016 | 1.99 | 3.45 | 0.34 | 0.46 | 0.72 | 0.38 | 4.44 | 0.74 | 0.00 | 0.82 | 0.32 | 0.37 | 0.34 |
| Dec 31, 2015 | 0.87 | — | 0.17 | 0.60 | 0.84 | 0.37 | 7.57 | 0.46 | 0.00 | 0.60 | 0.32 | 0.35 | 0.41 |
| Dec 31, 2014 | 0.73 | 11.83 | 0.18 | 0.25 | 1.70 | 0.25 | 0.20 | 0.27 | 0.00 | 0.61 | 0.31 | 0.00 | 0.45 |
| Dec 31, 2013 | 0.65 | 3.78 | 0.18 | 0.27 | 0.00 | 0.23 | 0.21 | 0.29 | 0.00 | 0.66 | 0.00 | 0.00 | 0.48 |
| Dec 31, 2012 | 0.74 | 3.80 | 0.20 | 0.27 | 0.00 | 0.26 | 0.23 | 0.25 | 0.00 | 0.42 | 0.01 | 0.00 | 0.52 |
| Dec 31, 2011 | 0.82 | 1.27 | 0.23 | 0.22 | 0.00 | 0.16 | 0.26 | 0.30 | 0.00 | 0.24 | 0.01 | 0.04 | 0.51 |
| Dec 31, 2010 | 0.65 | 2.39 | 0.13 | 0.03 | 0.15 | 0.04 | 0.33 | 0.01 | 0.00 | 0.29 | 0.01 | 0.05 | 0.00 |
| Dec 31, 2009 | 0.95 | 7.30 | 0.00 | 0.03 | 0.57 | 0.05 | 0.34 | 0.03 | 0.00 | 0.67 | 0.01 | 0.00 | 0.00 |
| Dec 31, 2008 | 1.72 | — | 0.00 | 0.03 | — | 0.05 | 0.25 | 0.17 | 0.12 | 0.44 | 0.00 | 0.00 | 0.00 |
| Dec 31, 2007 | 72.92 | 1.76 | 0.00 | 0.03 | — | 0.05 | 0.00 | 0.21 | 0.13 | 0.31 | 0.00 | 0.00 | 0.00 |
| Dec 31, 2006 | — | 0.66 | 0.00 | 0.06 | — | 0.06 | 0.00 | 0.25 | 0.01 | 0.07 | 0.00 | 0.00 | 0.00 |
| Dec 31, 2005 | — | 0.41 | 0.00 | 0.05 | — | 0.07 | 0.00 | 0.00 | 0.01 | 0.20 | 0.00 | 0.00 | 0.06 |
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., debt to equity, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| ON Semiconductor Corp. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Dec 31, 2023 | 0.43 | 0.46 |
| Dec 31, 2022 | 0.52 | 0.43 |
| Dec 31, 2021 | 0.68 | 0.49 |
| Dec 31, 2020 | 0.99 | 0.60 |
| Dec 31, 2019 | 1.09 | 0.56 |
| Dec 31, 2018 | 0.87 | 0.49 |
| Dec 31, 2017 | 1.06 | 0.56 |
| Dec 31, 2016 | 1.99 | 0.47 |
| Dec 31, 2015 | 0.87 | 0.43 |
| Dec 31, 2014 | 0.73 | 0.26 |
| Dec 31, 2013 | 0.65 | 0.22 |
| Dec 31, 2012 | 0.74 | 0.22 |
| Dec 31, 2011 | 0.82 | 0.18 |
| Dec 31, 2010 | 0.65 | 0.09 |
| Dec 31, 2009 | 0.95 | 0.12 |
| Dec 31, 2008 | 1.72 | 0.12 |
| Dec 31, 2007 | 72.92 | 0.11 |
| Dec 31, 2006 | — | 0.08 |
| Dec 31, 2005 | — | 0.07 |
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., debt to equity, long-term trends, comparison to industry (information technology)
| ON Semiconductor Corp. | Information Technology | |
|---|---|---|
| Dec 31, 2023 | 0.43 | 0.65 |
| Dec 31, 2022 | 0.52 | 0.70 |
| Dec 31, 2021 | 0.68 | 0.82 |
| Dec 31, 2020 | 0.99 | 0.95 |
| Dec 31, 2019 | 1.09 | 0.97 |
| Dec 31, 2018 | 0.87 | 0.82 |
| Dec 31, 2017 | 1.06 | 0.80 |
| Dec 31, 2016 | 1.99 | 0.65 |
| Dec 31, 2015 | 0.87 | 0.56 |
| Dec 31, 2014 | 0.73 | 0.38 |
| Dec 31, 2013 | 0.65 | 0.28 |
| Dec 31, 2012 | 0.74 | 0.24 |
| Dec 31, 2011 | 0.82 | 0.27 |
| Dec 31, 2010 | 0.65 | 0.24 |
| Dec 31, 2009 | 0.95 | 0.25 |
| Dec 31, 2008 | 1.72 | 0.28 |
| Dec 31, 2007 | 72.92 | 0.26 |
| Dec 31, 2006 | — | 0.19 |
| Dec 31, 2005 | — | 0.15 |
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).