Return on Equity (ROE)
since 2005
Calculation
ON Semiconductor Corp., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income (loss) attributable to ON Semiconductor Corporation1 | ÷ | Total ON Semiconductor Corporation stockholders’ equity (deficit)1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 28.06% | = | 100 | × | 2,183,700) | ÷ | 7,782,600) |
| Dec 31, 2022 | 30.74% | = | 100 | × | 1,902,200) | ÷ | 6,188,500) |
| Dec 31, 2021 | 22.02% | = | 100 | × | 1,009,600) | ÷ | 4,585,400) |
| Dec 31, 2020 | 6.62% | = | 100 | × | 234,200) | ÷ | 3,538,500) |
| Dec 31, 2019 | 6.41% | = | 100 | × | 211,700) | ÷ | 3,301,700) |
| Dec 31, 2018 | 19.78% | = | 100 | × | 627,400) | ÷ | 3,171,600) |
| Dec 31, 2017 | 29.17% | = | 100 | × | 810,700) | ÷ | 2,778,800) |
| Dec 31, 2016 | 9.99% | = | 100 | × | 182,100) | ÷ | 1,823,200) |
| Dec 31, 2015 | 12.82% | = | 100 | × | 206,200) | ÷ | 1,608,200) |
| Dec 31, 2014 | 11.66% | = | 100 | × | 189,700) | ÷ | 1,626,500) |
| Dec 31, 2013 | 10.37% | = | 100 | × | 150,800) | ÷ | 1,454,000) |
| Dec 31, 2012 | -6.66% | = | 100 | × | (90,600) | ÷ | 1,361,100) |
| Dec 31, 2011 | 0.79% | = | 100 | × | 11,600) | ÷ | 1,468,200) |
| Dec 31, 2010 | 21.27% | = | 100 | × | 290,500) | ÷ | 1,366,000) |
| Dec 31, 2009 | 6.19% | = | 100 | × | 61,000) | ÷ | 985,000) |
| Dec 31, 2008 | -56.00% | = | 100 | × | (380,100) | ÷ | 678,700) |
| Dec 31, 2007 | 1,523.27% | = | 100 | × | 242,200) | ÷ | 15,900) |
| Dec 31, 2006 | — | = | 100 | × | 272,100) | ÷ | (225,400) |
| Dec 31, 2005 | — | = | 100 | × | 100,600) | ÷ | (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 trajectory from 2005 to 2023 exhibits a transition from significant capital instability to a period of robust profitability and sustained equity growth.
- Equity Position and Capital Structure
- A period of negative stockholders' equity is observed between 2005 and 2006, indicating a deficit in the capital base. A transition to positive equity occurred in 2007, followed by a consistent upward trend. This growth accelerated markedly after 2017, with total equity rising from approximately 2.78 billion US dollars to 7.78 billion US dollars by 2023, reflecting a strengthened balance sheet and increased capital accumulation.
- Return on Equity (ROE) Volatility
- ROE displayed extreme volatility in the early observation period. An anomalous peak of 1,523.27% in 2007 is attributable to a very narrow positive equity base relative to net income. This was followed by a sharp contraction to -56.00% in 2008, coinciding with a net loss of 380.1 million US dollars. Between 2013 and 2016, ROE stabilized within a range of approximately 10% to 13%, suggesting a period of moderate and consistent returns on invested capital.
- Modern Profitability Trends
- A second phase of high performance began in 2017, with ROE reaching 29.17%. Although a temporary decline occurred between 2019 and 2020, with ROE falling to approximately 6%, a strong recovery is evident from 2021 onward. The period between 2022 and 2023 is characterized by high capital efficiency, with ROE maintaining levels between 28% and 31%. This trend is supported by a substantial expansion in net income, which grew from 1.01 billion US dollars in 2021 to 2.18 billion US dollars by the end of 2023.
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Comparison to Competitors
ON Semiconductor Corp., ROE, 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 | 28.06% | 1.53% | 9.32% | 41.94% | 58.70% | 1.60% | 116.01% | 54.94% | -1.05% | -13.22% | 19.76% | 33.51% | 38.53% |
| Dec 31, 2022 | 30.74% | 2.41% | 7.54% | 53.51% | 50.62% | 7.90% | 237.04% | 73.35% | -2.68% | 17.41% | 36.65% | 71.81% | 60.02% |
| Dec 31, 2021 | 22.02% | 42.18% | 3.66% | 48.08% | 26.99% | 20.83% | 61.53% | 64.85% | -3.29% | 13.34% | 25.64% | 90.88% | 58.27% |
| Dec 31, 2020 | 6.62% | 42.66% | 10.17% | 34.21% | 12.40% | 25.79% | 45.65% | 43.53% | 18.26% | 6.89% | 22.91% | 85.54% | 60.90% |
| Dec 31, 2019 | 6.41% | 12.06% | 11.64% | 32.94% | 10.92% | 27.16% | 44.21% | 46.89% | -2.45% | 17.59% | 44.33% | 89.35% | 56.33% |
| Dec 31, 2018 | 19.78% | 26.62% | 13.61% | 48.44% | 45.99% | 28.24% | 49.51% | 36.62% | 12.58% | 43.77% | 40.78% | -524.14% | 62.04% |
| Dec 31, 2017 | 29.17% | 7.04% | 7.16% | 36.73% | 8.34% | 13.91% | 69.82% | 24.90% | 0.53% | 27.33% | 28.91% | 8.02% | 35.62% |
| Dec 31, 2016 | 9.99% | -119.47% | 16.68% | 23.85% | -9.20% | 15.58% | 102.22% | 15.51% | -19.60% | -2.28% | 13.74% | 17.95% | 34.33% |
| Dec 31, 2015 | 12.82% | — | 13.74% | 18.09% | 28.94% | 18.70% | 86.88% | 12.85% | 8.46% | 23.57% | 14.27% | 16.78% | 30.02% |
| Dec 31, 2014 | 11.66% | -215.51% | 13.23% | 13.62% | 8.11% | 20.95% | 15.88% | 12.57% | 6.74% | 28.27% | 9.87% | 20.34% | 27.15% |
| Dec 31, 2013 | 10.37% | -15.26% | 14.21% | 3.61% | 19.13% | 16.51% | 15.60% | 2.54% | 6.84% | 13.02% | 11.65% | 18.99% | 20.01% |
| Dec 31, 2012 | -6.66% | -219.89% | 15.63% | 1.51% | 23.27% | 21.49% | 22.80% | 3.29% | 12.27% | -13.40% | 14.02% | 18.22% | 16.05% |
| Dec 31, 2011 | 0.79% | 30.88% | 22.85% | 21.89% | 27.52% | 28.19% | 27.77% | 29.30% | 16.37% | 1.97% | 7.96% | 15.81% | 20.42% |
| Dec 31, 2010 | 21.27% | 46.50% | 22.25% | 12.44% | 27.57% | 23.19% | 9.45% | 19.61% | 8.00% | 23.07% | -2.55% | 15.57% | 30.93% |
| Dec 31, 2009 | 6.19% | 46.91% | 9.80% | -4.30% | -4.23% | 10.48% | -23.96% | -20.79% | 3.85% | -39.43% | -1.25% | 7.84% | 15.12% |
| Dec 31, 2008 | -56.00% | — | 32.49% | 12.73% | — | 13.54% | 12.04% | 24.70% | -3.35% | -26.21% | 30.47% | 17.61% | 20.59% |
| Dec 31, 2007 | 1,523.27% | -113.01% | 21.25% | 21.87% | — | 16.31% | 14.88% | 58.30% | -0.37% | -4.13% | 22.36% | 20.86% | 26.64% |
| Dec 31, 2006 | — | -2.87% | 15.99% | 22.80% | — | 13.72% | 10.66% | 24.05% | 10.88% | 5.03% | 20.76% | 18.42% | 38.21% |
| Dec 31, 2005 | — | 4.94% | 11.24% | 13.55% | — | 23.95% | 15.33% | 28.06% | 5.67% | 3.22% | 8.52% | 19.27% | 19.47% |
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., ROE, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| ON Semiconductor Corp. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Dec 31, 2023 | 28.06% | 12.69% |
| Dec 31, 2022 | 30.74% | 21.59% |
| Dec 31, 2021 | 22.02% | 24.91% |
| Dec 31, 2020 | 6.62% | 24.28% |
| Dec 31, 2019 | 6.41% | 25.76% |
| Dec 31, 2018 | 19.78% | 32.95% |
| Dec 31, 2017 | 29.17% | 16.60% |
| Dec 31, 2016 | 9.99% | 12.61% |
| Dec 31, 2015 | 12.82% | 18.69% |
| Dec 31, 2014 | 11.66% | 19.37% |
| Dec 31, 2013 | 10.37% | 15.49% |
| Dec 31, 2012 | -6.66% | 14.85% |
| Dec 31, 2011 | 0.79% | 21.32% |
| Dec 31, 2010 | 21.27% | 20.49% |
| Dec 31, 2009 | 6.19% | 5.22% |
| Dec 31, 2008 | -56.00% | 9.53% |
| Dec 31, 2007 | 1,523.27% | 13.17% |
| Dec 31, 2006 | — | 16.33% |
| Dec 31, 2005 | — | 18.14% |
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., ROE, long-term trends, comparison to industry (information technology)
| ON Semiconductor Corp. | Information Technology | |
|---|---|---|
| Dec 31, 2023 | 28.06% | 31.26% |
| Dec 31, 2022 | 30.74% | 38.03% |
| Dec 31, 2021 | 22.02% | 41.64% |
| Dec 31, 2020 | 6.62% | 35.38% |
| Dec 31, 2019 | 6.41% | 35.94% |
| Dec 31, 2018 | 19.78% | 30.23% |
| Dec 31, 2017 | 29.17% | 23.19% |
| Dec 31, 2016 | 9.99% | 23.00% |
| Dec 31, 2015 | 12.82% | 25.97% |
| Dec 31, 2014 | 11.66% | 25.43% |
| Dec 31, 2013 | 10.37% | 24.73% |
| Dec 31, 2012 | -6.66% | 26.09% |
| Dec 31, 2011 | 0.79% | 29.03% |
| Dec 31, 2010 | 21.27% | 27.62% |
| Dec 31, 2009 | 6.19% | 20.05% |
| Dec 31, 2008 | -56.00% | 25.24% |
| Dec 31, 2007 | 1,523.27% | 23.67% |
| Dec 31, 2006 | — | 22.58% |
| Dec 31, 2005 | — | 21.92% |
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).