Stock Analysis on Net

ON Semiconductor Corp. (NASDAQ:ON)

This company has been moved to the archive! The financial data has not been updated since April 29, 2024.

Price to Book Value (P/BV) 
since 2005

Microsoft Excel

Calculation

ON Semiconductor Corp., P/BV, long-term trends, calculation

Microsoft Excel

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

Microsoft Excel

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)

Microsoft Excel

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)

Microsoft Excel

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).