Stock Analysis on Net

ON Semiconductor Corp. (NASDAQ:ON)

Enterprise Value to EBITDA (EV/EBITDA)

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

ON Semiconductor Corp., EBITDA calculation

US$ in thousands

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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

Microsoft Excel
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

Microsoft Excel
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.