Price to Book Value (P/BV)
since 2005
Calculation
ON Semiconductor Corp., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total ON Semiconductor Corporation stockholders’ equity (deficit)1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 5, 2024 | 4.26 | = | 77.59 | ÷ | 18.21 | 18.21 | = | 7,782,600 | ÷ | 427,328,652 | |
| Feb 6, 2023 | 5.61 | = | 80.40 | ÷ | 14.33 | 14.33 | = | 6,188,500 | ÷ | 431,967,907 | |
| Feb 14, 2022 | 5.53 | = | 58.66 | ÷ | 10.60 | 10.60 | = | 4,585,400 | ÷ | 432,497,822 | |
| Feb 16, 2021 | 4.87 | = | 41.85 | ÷ | 8.59 | 8.59 | = | 3,538,500 | ÷ | 411,881,071 | |
| Feb 19, 2020 | 2.60 | = | 20.90 | ÷ | 8.03 | 8.03 | = | 3,301,700 | ÷ | 411,065,636 | |
| Feb 20, 2019 | 2.92 | = | 22.59 | ÷ | 7.74 | 7.74 | = | 3,171,600 | ÷ | 409,710,366 | |
| Feb 21, 2018 | 3.56 | = | 23.23 | ÷ | 6.53 | 6.53 | = | 2,778,800 | ÷ | 425,440,679 | |
| Feb 28, 2017 | 3.48 | = | 15.13 | ÷ | 4.34 | 4.34 | = | 1,823,200 | ÷ | 419,610,858 | |
| Feb 24, 2016 | 2.13 | = | 8.30 | ÷ | 3.90 | 3.90 | = | 1,608,200 | ÷ | 412,095,180 | |
| Feb 27, 2015 | 3.38 | = | 12.75 | ÷ | 3.77 | 3.77 | = | 1,626,500 | ÷ | 431,315,129 | |
| Feb 21, 2014 | 2.84 | = | 9.38 | ÷ | 3.30 | 3.30 | = | 1,454,000 | ÷ | 440,421,919 | |
| Feb 26, 2013 | 2.63 | = | 7.95 | ÷ | 3.03 | 3.03 | = | 1,361,100 | ÷ | 449,492,111 | |
| Feb 22, 2012 | 2.78 | = | 9.04 | ÷ | 3.25 | 3.25 | = | 1,468,200 | ÷ | 452,136,921 | |
| Feb 24, 2011 | 3.59 | = | 11.10 | ÷ | 3.09 | 3.09 | = | 1,366,000 | ÷ | 441,905,088 | |
| Feb 25, 2010 | 3.47 | = | 7.99 | ÷ | 2.30 | 2.30 | = | 985,000 | ÷ | 427,691,133 | |
| Feb 27, 2009 | 2.22 | = | 3.66 | ÷ | 1.65 | 1.65 | = | 678,700 | ÷ | 411,874,486 | |
| Feb 12, 2008 | 116.34 | = | 6.32 | ÷ | 0.05 | 0.05 | = | 15,900 | ÷ | 292,687,576 | |
| Feb 23, 2007 | — | = | 10.76 | ÷ | -0.78 | -0.78 | = | -225,400 | ÷ | 289,598,624 | |
| Feb 22, 2006 | — | = | 6.63 | ÷ | -0.96 | -0.96 | = | -300,300 | ÷ | 312,027,864 |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of ON Semiconductor Corp. Annual Report.
- Share price trend
- The share price exhibited significant volatility over the analyzed period. Starting at $6.63 in early 2006, it rose to $10.76 in early 2007 before experiencing a decline to $3.66 by early 2009. Subsequently, the price recovered and showed a general upward trajectory, reaching a peak of $80.40 by early 2023. A slight decline was noted in the most recent period, with the share price at $77.59 in early 2024.
- Book value per share (BVPS) trend
- The book value per share followed a positive growth trend over the years. Initially, BVPS was negative (-$0.96) in 2006 but improved steadily, becoming positive by early 2008 at $0.05. From that point onward, the BVPS showed consistent increases, reaching $18.21 in early 2024, indicating an enhancement in the company's net asset value on a per-share basis.
- Price-to-book value (P/BV) ratio trend
- The price-to-book ratio depicts considerable fluctuations. It is missing for the earliest periods, but from early 2008, it started extremely high at 116.34, likely due to the very low BVPS at that time. Afterwards, the ratio stabilized within a range between approximately 2.13 and 5.61, with multiple peaks and troughs. Notably, the ratio peaked above 5.5 in early 2023 and early 2024 but dropped slightly to 4.26 most recently.
- Insights and observations
- The rising book value per share suggests the company enhanced its equity base and improved financial strength over time. The share price movement largely reflects market volatility and firm performance, with substantial appreciation observed after 2010, especially from 2015 onward. The initially extremely high P/BV ratio in 2008 indicates a period where the share price was high relative to the book value, possibly reflecting market expectations or undervalued equity at the time. The stabilization and later fluctuations in P/BV reveal changing market perceptions of the company’s valuation relative to its net assets. The peak P/BV ratios in the recent years, concurrent with high share prices and increased book values, suggest elevated market optimism and possibly higher growth expectations. The slight decline in share price in the latest period, despite further increases in BVPS, hints at a possible market correction or adjustment to valuation expectations.
Comparison to Competitors
ON Semiconductor Corp., P/BV, 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. | Micron Technology Inc. | Monolithic Power Systems Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 5, 2024 | 4.26 | 4.85 | 2.53 | 8.23 | 21.59 | 1.75 | 23.25 | 10.58 | 1.74 | 18.64 | 26.03 | 5.72 | 8.57 |
| Feb 6, 2023 | 5.61 | 2.32 | 2.35 | 7.25 | 10.23 | 1.15 | 40.05 | 10.10 | 1.15 | 13.69 | 24.95 | 7.00 | 11.33 |
| Feb 14, 2022 | 5.53 | 19.21 | 2.50 | 10.60 | 10.50 | 2.21 | 15.98 | 13.64 | 1.79 | 17.25 | 20.14 | 15.59 | 11.87 |
| Feb 16, 2021 | 4.87 | 17.77 | 4.22 | 7.63 | 7.40 | 2.84 | 11.83 | 10.55 | 1.50 | 18.36 | 15.49 | 24.00 | 17.02 |
| Feb 19, 2020 | 2.60 | 20.46 | 3.61 | 6.67 | 5.09 | 3.78 | 8.15 | 6.40 | 1.40 | 9.15 | 10.09 | 19.69 | 13.79 |
| Feb 20, 2019 | 2.92 | 18.30 | 3.02 | 4.73 | 3.74 | 2.94 | 11.39 | 4.28 | 1.49 | 9.13 | 19.60 | 82.57 | 11.20 |
| Feb 21, 2018 | 3.56 | 19.87 | 3.22 | 5.94 | 5.28 | 3.08 | 10.50 | 3.82 | 2.51 | 9.34 | 10.51 | 2.56 | 9.89 |
| Feb 28, 2017 | 3.48 | 31.66 | 4.35 | 4.93 | 3.84 | 2.60 | 17.57 | 2.45 | 1.48 | 8.54 | 3.98 | 3.12 | 7.36 |
| Feb 24, 2016 | 2.13 | — | 3.72 | 2.87 | 8.24 | 2.21 | 19.57 | 2.23 | 1.47 | 6.44 | 2.84 | 2.88 | 5.30 |
| Feb 27, 2015 | 3.38 | 12.72 | 3.64 | 3.80 | 7.98 | 2.91 | 3.26 | 2.29 | 3.22 | 6.14 | 2.19 | 3.28 | 5.94 |
| Feb 21, 2014 | 2.84 | 4.94 | 3.28 | 2.82 | 4.46 | 2.11 | 2.78 | 1.69 | 1.92 | 4.40 | 1.63 | 3.26 | 4.46 |
| Feb 26, 2013 | 2.63 | 3.45 | 2.90 | 1.79 | 3.25 | 2.04 | 2.61 | 1.24 | 0.72 | 3.47 | 2.20 | 2.95 | 3.45 |
| Feb 22, 2012 | 2.78 | 3.28 | 2.62 | 1.65 | 3.51 | 2.90 | 2.11 | 1.80 | 0.64 | 2.56 | 3.27 | 3.25 | 3.48 |
| Feb 24, 2011 | 3.59 | 6.21 | 3.36 | 2.35 | 4.24 | 2.46 | 2.41 | 2.63 | 0.96 | 2.16 | 3.74 | 3.54 | 4.00 |
| Feb 25, 2010 | 3.47 | 8.23 | 3.43 | 2.53 | 3.78 | 2.76 | 2.44 | 2.67 | 1.25 | 3.58 | 2.27 | 3.61 | 3.10 |
| Feb 27, 2009 | 2.22 | — | 2.04 | 1.84 | — | 1.72 | 2.19 | 2.69 | 0.42 | 2.66 | 4.24 | 3.05 | 2.09 |
| Feb 12, 2008 | 116.34 | 1.44 | 3.99 | 3.14 | — | 2.76 | 3.27 | 4.05 | 0.96 | 4.09 | 5.06 | 4.11 | 4.14 |
| Feb 23, 2007 | — | 1.42 | 3.36 | 3.81 | — | 3.27 | 2.75 | 4.19 | 1.30 | 4.38 | 5.75 | 4.48 | 3.93 |
| Feb 22, 2006 | — | 5.83 | 3.75 | 3.42 | — | 3.34 | 3.19 | 3.75 | 1.47 | 5.90 | 3.63 | 5.97 | 4.00 |
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., P/BV, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| ON Semiconductor Corp. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Feb 5, 2024 | 4.26 | 6.51 |
| Feb 6, 2023 | 5.61 | 5.22 |
| Feb 14, 2022 | 5.53 | 6.35 |
| Feb 16, 2021 | 4.87 | 6.21 |
| Feb 19, 2020 | 2.60 | 5.19 |
| Feb 20, 2019 | 2.92 | 4.65 |
| Feb 21, 2018 | 3.56 | 4.10 |
| Feb 28, 2017 | 3.48 | 3.41 |
| Feb 24, 2016 | 2.13 | 2.90 |
| Feb 27, 2015 | 3.38 | 3.42 |
| Feb 21, 2014 | 2.84 | 2.69 |
| Feb 26, 2013 | 2.63 | 2.35 |
| Feb 22, 2012 | 2.78 | 2.75 |
| Feb 24, 2011 | 3.59 | 2.81 |
| Feb 25, 2010 | 3.47 | 2.94 |
| Feb 27, 2009 | 2.22 | 2.08 |
| Feb 12, 2008 | 116.34 | 3.08 |
| Feb 23, 2007 | — | 3.32 |
| Feb 22, 2006 | — | 3.77 |
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., P/BV, long-term trends, comparison to industry (information technology)
| ON Semiconductor Corp. | Information Technology | |
|---|---|---|
| Feb 5, 2024 | 4.26 | 11.48 |
| Feb 6, 2023 | 5.61 | 10.47 |
| Feb 14, 2022 | 5.53 | 12.53 |
| Feb 16, 2021 | 4.87 | 11.10 |
| Feb 19, 2020 | 2.60 | 8.51 |
| Feb 20, 2019 | 2.92 | 7.05 |
| Feb 21, 2018 | 3.56 | 5.49 |
| Feb 28, 2017 | 3.48 | 4.56 |
| Feb 24, 2016 | 2.13 | 4.33 |
| Feb 27, 2015 | 3.38 | 4.39 |
| Feb 21, 2014 | 2.84 | 3.52 |
| Feb 26, 2013 | 2.63 | 3.77 |
| Feb 22, 2012 | 2.78 | 4.01 |
| Feb 24, 2011 | 3.59 | 4.18 |
| Feb 25, 2010 | 3.47 | 4.35 |
| Feb 27, 2009 | 2.22 | 4.02 |
| Feb 12, 2008 | 116.34 | 8.71 |
| Feb 23, 2007 | — | 7.26 |
| Feb 22, 2006 | — | 7.44 |
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).