ON Semiconductor (ON) FY2020 results: revenue $5.3 billion, down 4.8% on the year
ON Semiconductor Corp. (ON) reported revenue of $5.3 billion for fiscal 2020, the year ended 31 December 2020, down 4.8% on the year before. Net income was $234 million, up 10.6%, and diluted earnings per share $0.56. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2021.
Revenue
$5.3 billion
-4.8% on the year
FY2013FY2020
Operating margin
6.6%
7.8% a year earlier
FY2013FY2020
Net income
$234 million
+10.6% on the year
FY2013FY2020
Diluted EPS
$0.56
+9.8% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
5,255
5,518
5,878
-4.8%
Cost of revenue
3,539
3,544
3,640
-0.1%
Gross profit
1,716
1,974
2,239
-13.1%
Gross margin
32.7%
35.8%
38.1%
Research and development
643
641
651
+0.3%
Operating income
349
433
847
-19.4%
Operating margin
6.6%
7.8%
14.4%
Interest expense
168
148
128
+13.6%
Pre-tax income
177
277
755
-36.2%
Income tax
-59.8
62.7
125
Effective tax rate
-33.9%
22.7%
16.6%
Net income
234
212
627
+10.6%
Net margin
4.5%
3.8%
10.7%
Diluted EPS
$0.56
$0.51
$1.44
+9.8%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
884
695
1,274
+27.3%
Capital expenditure
384
535
515
-28.2%
Free cash flow
501
160
759
+212.7%
Free cash flow margin
9.5%
2.9%
12.9%
Cash from investing
-454
-1,511
-549
Cash from financing
-244
623
-605
Depreciation and amortisation
625
593
509
+5.4%
Share-based compensation
67.7
79.4
78.3
-14.7%
Buybacks
65.4
139
315
-52.9%
Diluted shares, weighted
419m
416m
436m
+0.7%
Shares outstanding at period end
412m
411m
414m
+0.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,538
3,302
3,172
+7.2%
Non-controlling interest
19.6
22.4
22.5
-12.5%
Debt
3,590
3,749
2,939
-4.3%
Operating lease liabilities
116
87.9
n/a
+31.6%
Finance lease liabilities
0.0
n/a
n/a
Other liabilities
1,405
1,264
1,454
+11.1%
Total liabilities and equity
8,668
8,426
7,588
+2.9%
Fixed assets
2,512
2,592
2,550
-3.1%
Goodwill
1,663
1,659
932
+0.3%
Intangible assets
469
590
566
-20.6%
Cash and equivalents
1,081
894
1,070
+20.9%
Receivables
676
705
686
-4.1%
Inventory
1,251
1,232
1,225
+1.5%
Other assets
1,015
753
558
+34.9%
Total assets
8,668
8,426
7,588
+2.9%
10-K for the year ended 31 December 2020, filed 16 February 2021: the filing.