ON Semiconductor (ON) FY2017 results: revenue $5.5 billion, up 41.9% on the year
ON Semiconductor Corp. (ON) reported revenue of $5.5 billion for fiscal 2017, the year ended 31 December 2017, up 41.9% on the year before. Net income was $811 million, up 345.2%, and diluted earnings per share $1.89. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2018.
Revenue
$5.5 billion
+41.9% on the year
FY2010FY2017
Operating margin
12.3%
6.3% a year earlier
FY2010FY2017
Net income
$811 million
+345.2% on the year
FY2010FY2017
Diluted EPS
$1.89
+339.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
5,543
3,907
3,496
+41.9%
Cost of revenue
3,509
2,610
2,303
+34.5%
Gross profit
2,034
1,300
1,193
+56.4%
Gross margin
36.7%
33.3%
34.1%
Research and development
594
447
397
+33.0%
Operating income
681
247
261
+175.9%
Operating margin
12.3%
6.3%
7.5%
Interest expense
141
145
49.7
-2.8%
Pre-tax income
548
181
220
+203.2%
Income tax
-266
-3.9
10.8
Effective tax rate
-48.5%
-2.2%
4.9%
Net income
811
182
206
+345.2%
Net margin
14.6%
4.7%
5.9%
Diluted EPS
$1.89
$0.43
$0.48
+339.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,094
581
471
+88.3%
Capital expenditure
388
211
271
+83.9%
Free cash flow
707
370
200
+90.7%
Free cash flow margin
12.7%
9.5%
5.7%
Cash from investing
-364
-2,435
-264
Cash from financing
-811
2,265
-99.8
Depreciation and amortisation
482
364
358
+32.4%
Share-based compensation
69.8
56.1
46.9
+24.4%
Buybacks
25.0
0.0
348
Diluted shares, weighted
428m
420m
428m
+2.0%
Shares outstanding at period end
425m
419m
412m
+1.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
2,779
1,823
1,608
+52.4%
Non-controlling interest
22.2
21.8
23.7
+1.8%
Redeemable equity
0.0
32.9
0.0
Debt
3,175
3,807
1,516
-16.6%
Other liabilities
1,219
1,240
722
-1.7%
Total liabilities and equity
7,195
6,924
3,870
+3.9%
Fixed assets
2,279
2,159
1,274
+5.6%
Goodwill
917
925
271
-0.8%
Intangible assets
628
762
326
-17.6%
Investments
n/a
n/a
0.0
Cash and equivalents
949
1,028
618
-7.7%
Receivables
702
630
426
+11.4%
Inventory
1,090
1,030
750
+5.8%
Other assets
631
390
205
+61.5%
Total assets
7,195
6,924
3,870
+3.9%
10-K for the year ended 31 December 2017, filed 21 February 2018: the filing.