Return on Assets (ROA)
since 2005
Calculation
ON Semiconductor Corp., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income (loss) attributable to ON Semiconductor Corporation1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 16.52% | = | 100 | × | 2,183,700) | ÷ | 13,215,200) |
| Dec 31, 2022 | 15.88% | = | 100 | × | 1,902,200) | ÷ | 11,978,500) |
| Dec 31, 2021 | 10.49% | = | 100 | × | 1,009,600) | ÷ | 9,626,000) |
| Dec 31, 2020 | 2.70% | = | 100 | × | 234,200) | ÷ | 8,668,000) |
| Dec 31, 2019 | 2.51% | = | 100 | × | 211,700) | ÷ | 8,425,500) |
| Dec 31, 2018 | 8.27% | = | 100 | × | 627,400) | ÷ | 7,587,600) |
| Dec 31, 2017 | 11.27% | = | 100 | × | 810,700) | ÷ | 7,195,100) |
| Dec 31, 2016 | 2.63% | = | 100 | × | 182,100) | ÷ | 6,924,400) |
| Dec 31, 2015 | 5.33% | = | 100 | × | 206,200) | ÷ | 3,869,600) |
| Dec 31, 2014 | 4.96% | = | 100 | × | 189,700) | ÷ | 3,823,000) |
| Dec 31, 2013 | 4.63% | = | 100 | × | 150,800) | ÷ | 3,257,000) |
| Dec 31, 2012 | -2.72% | = | 100 | × | (90,600) | ÷ | 3,328,400) |
| Dec 31, 2011 | 0.30% | = | 100 | × | 11,600) | ÷ | 3,883,500) |
| Dec 31, 2010 | 9.95% | = | 100 | × | 290,500) | ÷ | 2,919,200) |
| Dec 31, 2009 | 2.53% | = | 100 | × | 61,000) | ÷ | 2,414,300) |
| Dec 31, 2008 | -16.15% | = | 100 | × | (380,100) | ÷ | 2,354,200) |
| Dec 31, 2007 | 14.79% | = | 100 | × | 242,200) | ÷ | 1,637,600) |
| Dec 31, 2006 | 19.21% | = | 100 | × | 272,100) | ÷ | 1,416,500) |
| Dec 31, 2005 | 8.76% | = | 100 | × | 100,600) | ÷ | 1,148,500) |
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 Return on Assets (ROA) exhibits significant volatility over the period from 2005 to 2023, characterized by cyclical fluctuations, a prolonged period of low efficiency, and a strong recent recovery. The overall trajectory reflects a company that has substantially expanded its asset base while navigating several periods of profitability contraction.
- Asset Growth and Expansion
- Total assets grew consistently from 1.15 billion USD in 2005 to 13.22 billion USD in 2023. A notable expansion occurred between 2015 and 2016, where total assets increased from approximately 3.87 billion USD to 6.92 billion USD, indicating a major capital investment or acquisition phase. This expansion of the balance sheet created a higher threshold for generating net income to maintain stable ROA levels.
- Profitability Volatility and Troughs
- The period between 2008 and 2012 was marked by instability, with ROA plummeting to -16.15% in 2008 and dipping again to -2.72% in 2012. These declines correspond with net losses of 380.1 million USD and 90.6 million USD, respectively. Following these troughs, the company experienced a period of stagnation from 2013 to 2020, where ROA largely remained in the single digits, frequently hovering between 2% and 5%, despite a brief peak of 11.27% in 2017.
- Recent Performance Recovery
- Starting in 2021, a sharp upward trend in asset utilization is observed. The ROA rose from 2.70% in 2020 to 10.49% in 2021, continuing upward to 15.88% in 2022 and reaching 16.52% in 2023. This recovery is driven by a substantial surge in net income, which climbed from 234.2 million USD in 2019 to 2.18 billion USD in 2023, outpacing the growth rate of the asset base.
- Long-term Efficiency Analysis
- The current ROA of 16.52% represents a return to efficiency levels seen during the 2005-2007 period, but achieved on a significantly larger scale. While the company faced a decade of subdued returns relative to its asset growth, the most recent three-year trend indicates a successful scaling of operations and an improvement in the company's ability to generate profit from its invested capital.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
How can I help you?
Comparison to Competitors
ON Semiconductor Corp., ROA, 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 | 16.52% | 1.26% | 6.79% | 22.31% | 19.33% | 0.88% | 24.07% | 24.02% | -0.73% | -9.08% | 10.61% | 14.17% | 20.12% |
| Dec 31, 2022 | 15.88% | 1.95% | 5.46% | 24.41% | 15.69% | 4.40% | 26.37% | 26.78% | -1.90% | 13.11% | 22.07% | 26.39% | 32.16% |
| Dec 31, 2021 | 10.49% | 25.46% | 2.66% | 22.80% | 8.91% | 11.80% | 20.23% | 24.59% | -2.58% | 9.96% | 15.05% | 21.93% | 31.48% |
| Dec 31, 2020 | 2.70% | 27.78% | 5.69% | 16.19% | 3.90% | 13.65% | 13.11% | 15.47% | 14.23% | 5.01% | 16.15% | 14.60% | 28.91% |
| Dec 31, 2019 | 2.51% | 5.66% | 6.37% | 14.22% | 4.04% | 15.42% | 13.05% | 18.26% | -1.79% | 12.91% | 31.15% | 13.31% | 27.84% |
| Dec 31, 2018 | 8.27% | 7.40% | 7.31% | 18.64% | 24.46% | 16.45% | 14.28% | 19.08% | 11.06% | 32.59% | 27.11% | -14.88% | 32.56% |
| Dec 31, 2017 | 11.27% | 1.21% | 3.44% | 17.68% | 3.11% | 7.79% | 16.74% | 14.00% | 0.45% | 14.40% | 16.93% | 3.77% | 20.87% |
| Dec 31, 2016 | 2.63% | -14.97% | 10.81% | 11.80% | -3.48% | 9.10% | 14.20% | 7.45% | -14.91% | -1.00% | 8.33% | 10.90% | 21.88% |
| Dec 31, 2015 | 5.33% | -21.23% | 9.87% | 9.00% | 12.88% | 11.08% | 7.59% | 7.00% | 7.40% | 12.01% | 8.76% | 10.38% | 18.40% |
| Dec 31, 2014 | 4.96% | -10.70% | 9.17% | 8.14% | 2.51% | 12.73% | 10.52% | 7.91% | 5.78% | 13.53% | 6.07% | 16.40% | 15.92% |
| Dec 31, 2013 | 4.63% | -1.91% | 10.55% | 2.13% | 16.16% | 10.42% | 10.27% | 1.57% | 5.83% | 6.22% | 8.77% | 15.06% | 11.42% |
| Dec 31, 2012 | -2.72% | -29.58% | 11.59% | 0.90% | 19.67% | 13.05% | 14.82% | 2.11% | 10.66% | -7.20% | 10.46% | 14.20% | 8.79% |
| Dec 31, 2011 | 0.30% | 9.91% | 16.44% | 13.90% | 22.57% | 18.20% | 16.99% | 17.84% | 14.26% | 1.13% | 5.63% | 11.70% | 10.91% |
| Dec 31, 2010 | 9.95% | 9.49% | 16.45% | 8.57% | 19.24% | 18.14% | 5.43% | 13.94% | 6.84% | 12.59% | -1.90% | 10.62% | 24.09% |
| Dec 31, 2009 | 2.53% | 3.35% | 7.28% | -3.19% | -2.23% | 8.23% | -14.50% | -15.48% | 3.34% | -16.02% | -0.90% | 5.80% | 12.13% |
| Dec 31, 2008 | -16.15% | -40.36% | 25.44% | 8.73% | — | 10.43% | 7.41% | 15.65% | -2.51% | -12.06% | 21.28% | 12.86% | 16.10% |
| Dec 31, 2007 | 14.79% | -29.26% | 16.72% | 16.05% | — | 12.54% | 11.42% | 32.63% | -0.27% | -2.16% | 16.78% | 17.86% | 20.98% |
| Dec 31, 2006 | 19.21% | -1.26% | 13.78% | 16.00% | — | 10.43% | 8.31% | 14.51% | 9.43% | 3.34% | 15.80% | 16.24% | 31.16% |
| Dec 31, 2005 | 8.76% | 2.27% | 9.05% | 10.74% | — | 17.93% | 11.71% | 20.66% | 5.08% | 2.35% | 6.16% | 17.17% | 15.43% |
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., ROA, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| ON Semiconductor Corp. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Dec 31, 2023 | 16.52% | 7.13% |
| Dec 31, 2022 | 15.88% | 12.17% |
| Dec 31, 2021 | 10.49% | 13.29% |
| Dec 31, 2020 | 2.70% | 11.86% |
| Dec 31, 2019 | 2.51% | 12.98% |
| Dec 31, 2018 | 8.27% | 17.25% |
| Dec 31, 2017 | 11.27% | 8.34% |
| Dec 31, 2016 | 2.63% | 6.69% |
| Dec 31, 2015 | 5.33% | 10.65% |
| Dec 31, 2014 | 4.96% | 12.05% |
| Dec 31, 2013 | 4.63% | 10.05% |
| Dec 31, 2012 | -2.72% | 9.54% |
| Dec 31, 2011 | 0.30% | 13.83% |
| Dec 31, 2010 | 9.95% | 14.54% |
| Dec 31, 2009 | 2.53% | 3.60% |
| Dec 31, 2008 | -16.15% | 6.42% |
| Dec 31, 2007 | 14.79% | 9.30% |
| Dec 31, 2006 | 19.21% | 12.06% |
| Dec 31, 2005 | 8.76% | 13.79% |
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., ROA, long-term trends, comparison to industry (information technology)
| ON Semiconductor Corp. | Information Technology | |
|---|---|---|
| Dec 31, 2023 | 16.52% | 12.34% |
| Dec 31, 2022 | 15.88% | 14.33% |
| Dec 31, 2021 | 10.49% | 14.52% |
| Dec 31, 2020 | 2.70% | 11.46% |
| Dec 31, 2019 | 2.51% | 11.67% |
| Dec 31, 2018 | 8.27% | 10.94% |
| Dec 31, 2017 | 11.27% | 9.00% |
| Dec 31, 2016 | 2.63% | 9.68% |
| Dec 31, 2015 | 5.33% | 11.51% |
| Dec 31, 2014 | 4.96% | 12.33% |
| Dec 31, 2013 | 4.63% | 13.22% |
| Dec 31, 2012 | -2.72% | 14.06% |
| Dec 31, 2011 | 0.30% | 15.11% |
| Dec 31, 2010 | 9.95% | 14.45% |
| Dec 31, 2009 | 2.53% | 10.04% |
| Dec 31, 2008 | -16.15% | 11.87% |
| Dec 31, 2007 | 14.79% | 11.93% |
| Dec 31, 2006 | 19.21% | 12.20% |
| Dec 31, 2005 | 8.76% | 12.71% |
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).