Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

ON Semiconductor Corp., EBITDA calculation

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net income attributable to ON Semiconductor Corporation	1,902,200)	1,009,600)	234,200)	211,700)	627,400)
Add: Net income attributable to noncontrolling interest	1,600)	1,600)	2,200)	2,200)	2,500)
Add: Income tax expense	458,400)	146,600)	(59,800)	62,700)	125,100)
Earnings before tax (EBT)	2,362,200)	1,157,800)	176,600)	276,600)	755,000)
Add: Interest expense	94,900)	130,400)	168,400)	148,300)	128,200)
Earnings before interest and tax (EBIT)	2,457,100)	1,288,200)	345,000)	424,900)	883,200)
Add: Depreciation and amortization	551,800)	596,700)	625,100)	593,100)	508,700)
Earnings before interest, tax, depreciation and amortization (EBITDA)	3,008,900)	1,884,900)	970,100)	1,018,000)	1,391,900)

Based on: 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).

Item	Description	The company
EBITDA	To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.	ON Semiconductor Corp. EBITDA increased from 2020 to 2021 and from 2021 to 2022.

Enterprise Value to EBITDA Ratio, Current

ON Semiconductor Corp., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in thousands)
Enterprise value (EV)	39,194,435)
Earnings before interest, tax, depreciation and amortization (EBITDA)	3,008,900)
Valuation Ratio
EV/EBITDA	13.03
Benchmarks
EV/EBITDA, Competitors¹
Advanced Micro Devices Inc.	35.08
Analog Devices Inc.	17.18
Applied Materials Inc.	14.18
Broadcom Inc.	18.74
First Solar Inc.	62.48
Intel Corp.	6.96
KLA Corp.	17.19
Lam Research Corp.	14.69
Micron Technology Inc.	4.09
NVIDIA Corp.	158.49
Qualcomm Inc.	8.04
Texas Instruments Inc.	13.90
EV/EBITDA, Sector
Semiconductors & Semiconductor Equipment	18.74
EV/EBITDA, Industry
Information Technology	21.76

Based on: 10-K (reporting date: 2022-12-31).

¹ Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Enterprise Value to EBITDA Ratio, Historical

ON Semiconductor Corp., historical EV/EBITDA calculation, comparison to benchmarks

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Selected Financial Data (US$ in thousands)
Enterprise value (EV)¹	35,060,420)	27,134,222)	19,667,423)	11,331,972)	10,974,357)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	3,008,900)	1,884,900)	970,100)	1,018,000)	1,391,900)
Valuation Ratio
EV/EBITDA³	11.65	14.40	20.27	11.13	7.88
Benchmarks
EV/EBITDA, Competitors⁴
Advanced Micro Devices Inc.	22.63	34.19	62.10	82.59	37.59
Analog Devices Inc.	16.23	38.55	23.61	18.67	14.37
Applied Materials Inc.	11.04	17.54	16.82	14.60	6.24
Broadcom Inc.	13.54	19.72	18.89	16.32	12.21
First Solar Inc.	53.82	7.64	12.99	32.49	11.68
Intel Corp.	6.20	6.02	6.40	8.73	7.11
KLA Corp.	14.97	19.26	18.10	14.14	10.91
Lam Research Corp.	11.34	16.67	17.76	10.07	7.08
Micron Technology Inc.	3.26	6.05	6.46	3.90	2.41
NVIDIA Corp.	57.59	58.96	52.90	21.10	40.89
Qualcomm Inc.	7.84	12.76	19.49	10.55	28.47
Texas Instruments Inc.	14.69	15.54	21.75	17.73	13.08
EV/EBITDA, Sector
Semiconductors & Semiconductor Equipment	14.53	15.44	14.75	11.59	9.55
EV/EBITDA, Industry
Information Technology	18.23	20.27	19.52	14.39	12.35

Based on: 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).

¹ See details »

² See details »

³ 2022 Calculation
EV/EBITDA = EV ÷ EBITDA
= 35,060,420 ÷ 3,008,900 = 11.65

⁴ Click competitor name to see calculations.

Valuation ratio	Description	The company
EV/EBITDA	Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock.	ON Semiconductor Corp. EV/EBITDA ratio decreased from 2020 to 2021 and from 2021 to 2022.

ON Semiconductor Corp. (NASDAQ:ON)

Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enterprise Value to EBITDA Ratio, Current

Enterprise Value to EBITDA Ratio, Historical