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ON Semiconductor Corp. (NASDAQ:ON)

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

Total Asset Turnover
since 2005

Microsoft Excel

Calculation

ON Semiconductor Corp., total asset turnover, long-term trends, calculation

Microsoft Excel
Total asset turnover = Revenue1 ÷ Total assets1
Dec 31, 2023 0.62 = 8,253,000 ÷ 13,215,200
Dec 31, 2022 0.70 = 8,326,200 ÷ 11,978,500
Dec 31, 2021 0.70 = 6,739,800 ÷ 9,626,000
Dec 31, 2020 0.61 = 5,255,000 ÷ 8,668,000
Dec 31, 2019 0.65 = 5,517,900 ÷ 8,425,500
Dec 31, 2018 0.77 = 5,878,300 ÷ 7,587,600
Dec 31, 2017 0.77 = 5,543,100 ÷ 7,195,100
Dec 31, 2016 0.56 = 3,906,900 ÷ 6,924,400
Dec 31, 2015 0.90 = 3,495,800 ÷ 3,869,600
Dec 31, 2014 0.83 = 3,161,800 ÷ 3,823,000
Dec 31, 2013 0.85 = 2,782,700 ÷ 3,257,000
Dec 31, 2012 0.87 = 2,894,900 ÷ 3,328,400
Dec 31, 2011 0.89 = 3,442,300 ÷ 3,883,500
Dec 31, 2010 0.79 = 2,313,400 ÷ 2,919,200
Dec 31, 2009 0.73 = 1,768,900 ÷ 2,414,300
Dec 31, 2008 0.87 = 2,054,800 ÷ 2,354,200
Dec 31, 2007 0.96 = 1,566,200 ÷ 1,637,600
Dec 31, 2006 1.08 = 1,531,800 ÷ 1,416,500
Dec 31, 2005 1.10 = 1,260,600 ÷ 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 total asset turnover ratio demonstrates a sustained long-term decline, indicating a decrease in the efficiency with which assets are utilized to generate revenue. From a peak of 1.10 in 2005, the ratio descended to 0.62 by the end of 2023, suggesting that the asset base has expanded at a significantly faster rate than top-line revenue growth.

Asset Growth and Revenue Divergence
A comparison of absolute values reveals that total assets grew from approximately 1.15 billion US dollars in 2005 to 13.22 billion US dollars in 2023. During the same period, revenue increased from 1.26 billion US dollars to 8.25 billion US dollars. Because the asset base expanded by a factor of more than eleven while revenue grew by a factor of approximately six and a half, the turnover ratio has experienced a systemic downward trajectory.
Cyclical Fluctuations and Troughs
The ratio has been subject to notable volatility, with distinct troughs observed in 2009 (0.73) and 2016 (0.56). The 2016 decline represents the lowest point in the observed period, coinciding with a substantial increase in total assets—which rose from 3.87 billion US dollars in 2014 to 6.92 billion US dollars in 2016—without a proportional immediate increase in revenue.
Recent Performance Trends
Following a partial recovery to 0.77 in 2017 and 2018, the asset turnover ratio resumed its decline, reaching 0.61 in 2020 before settling at 0.62 in 2023. This trend suggests a persistent challenge in optimizing the revenue generation relative to the company's increasing capital investment in its asset base.

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Comparison to Competitors

ON Semiconductor Corp., total asset turnover, long-term trends, comparison to competitors

Microsoft Excel
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 0.62 0.33 0.25 0.86 0.49 0.28 0.75 0.93 0.26 0.24 0.65 0.70 0.54
Dec 31, 2022 0.70 0.35 0.24 0.96 0.45 0.35 0.73 1.00 0.20 0.46 0.61 0.90 0.74
Dec 31, 2021 0.70 1.32 0.14 0.89 0.36 0.47 0.67 0.92 0.28 0.47 0.58 0.81 0.74
Dec 31, 2020 0.61 1.09 0.26 0.77 0.31 0.51 0.63 0.69 0.24 0.40 0.63 0.66 0.75
Dec 31, 2019 0.65 1.12 0.28 0.77 0.33 0.53 0.51 0.80 0.29 0.48 0.88 0.74 0.80
Dec 31, 2018 0.77 1.42 0.30 0.97 0.42 0.55 0.72 0.89 0.51 0.70 0.86 0.70 0.92
Dec 31, 2017 0.77 1.51 0.24 0.75 0.32 0.51 0.63 0.66 0.50 0.58 0.70 0.34 0.85
Dec 31, 2016 0.56 1.29 0.43 0.74 0.26 0.52 0.60 0.48 0.50 0.45 0.68 0.45 0.81
Dec 31, 2015 0.90 1.28 0.49 0.63 0.64 0.54 0.58 0.56 0.63 0.67 0.65 0.50 0.80
Dec 31, 2014 0.83 1.46 0.42 0.69 0.41 0.61 0.53 0.58 0.62 0.73 0.57 0.55 0.74
Dec 31, 2013 0.85 1.22 0.41 0.62 0.74 0.57 0.54 0.50 0.60 0.47 0.67 0.55 0.64
Dec 31, 2012 0.87 1.36 0.48 0.72 0.83 0.63 0.62 0.33 0.59 0.57 0.72 0.44 0.64
Dec 31, 2011 0.89 1.33 0.57 0.76 0.96 0.76 0.68 0.80 0.57 0.60 0.79 0.41 0.67
Dec 31, 2010 0.79 1.31 0.64 0.87 0.97 0.69 0.47 0.86 0.54 0.58 0.93 0.36 1.04
Dec 31, 2009 0.73 0.60 0.59 0.52 0.75 0.66 0.42 0.57 0.67 0.42 1.02 0.38 0.86
Dec 31, 2008 0.87 0.76 0.84 0.74 — 0.74 0.52 0.88 0.64 0.43 1.09 0.45 1.05
Dec 31, 2007 0.96 0.52 0.86 0.91 — 0.69 0.59 1.22 0.49 0.38 1.15 0.48 1.09
Dec 31, 2006 1.08 0.43 0.65 0.97 — 0.73 0.45 0.71 0.48 0.43 1.24 0.49 1.02
Dec 31, 2005 1.10 0.80 0.52 0.62 — 0.80 0.52 1.04 0.44 0.61 1.23 0.45 0.89

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., total asset turnover, long-term trends, comparison to sector (semiconductors & semiconductor equipment)

Microsoft Excel
ON Semiconductor Corp. Semiconductors & Semiconductor Equipment
Dec 31, 2023 0.62 0.43
Dec 31, 2022 0.70 0.49
Dec 31, 2021 0.70 0.52
Dec 31, 2020 0.61 0.50
Dec 31, 2019 0.65 0.54
Dec 31, 2018 0.77 0.63
Dec 31, 2017 0.77 0.49
Dec 31, 2016 0.56 0.50
Dec 31, 2015 0.90 0.58
Dec 31, 2014 0.83 0.62
Dec 31, 2013 0.85 0.58
Dec 31, 2012 0.87 0.60
Dec 31, 2011 0.89 0.67
Dec 31, 2010 0.79 0.68
Dec 31, 2009 0.73 0.59
Dec 31, 2008 0.87 0.69
Dec 31, 2007 0.96 0.68
Dec 31, 2006 1.08 0.68
Dec 31, 2005 1.10 0.73

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., total asset turnover, long-term trends, comparison to industry (information technology)

Microsoft Excel
ON Semiconductor Corp. Information Technology
Dec 31, 2023 0.62 0.61
Dec 31, 2022 0.70 0.64
Dec 31, 2021 0.70 0.62
Dec 31, 2020 0.61 0.58
Dec 31, 2019 0.65 0.59
Dec 31, 2018 0.77 0.59
Dec 31, 2017 0.77 0.51
Dec 31, 2016 0.56 0.55
Dec 31, 2015 0.90 0.63
Dec 31, 2014 0.83 0.64
Dec 31, 2013 0.85 0.66
Dec 31, 2012 0.87 0.70
Dec 31, 2011 0.89 0.73
Dec 31, 2010 0.79 0.72
Dec 31, 2009 0.73 0.69
Dec 31, 2008 0.87 0.79
Dec 31, 2007 0.96 0.76
Dec 31, 2006 1.08 0.75
Dec 31, 2005 1.10 0.76

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).