ON Semiconductor (ON) FY2023 results: revenue $8.3 billion, down 0.9% on the year
ON Semiconductor Corp. (ON) reported revenue of $8.3 billion for fiscal 2023, the year ended 31 December 2023, down 0.9% on the year before. Net income was $2.2 billion, up 14.8%, and diluted earnings per share $4.89. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2024.
Revenue
$8.3 billion
-0.9% on the year
FY2016FY2023
Operating margin
30.8%
28.3% a year earlier
FY2016FY2023
Net income
$2.2 billion
+14.8% on the year
FY2016FY2023
Diluted EPS
$4.89
+15.1% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,978
2,633
1,782
-24.9%
Capital expenditure
1,539
1,036
445
+48.6%
Free cash flow
438
1,597
1,337
-72.6%
Free cash flow margin
5.3%
19.2%
19.8%
Cash from investing
-1,738
-705
-915
Cash from financing
-686
-370
-569
Depreciation and amortisation
610
552
597
+10.5%
Share-based compensation
121
101
101
+20.1%
Buybacks
564
260
0.0
+117.2%
Diluted shares, weighted
447m
448m
444m
-0.3%
Shares outstanding at period end
426m
432m
432m
-1.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
7,783
6,188
4,585
+25.8%
Non-controlling interest
18.0
18.5
19.0
-2.7%
Debt
3,380
3,228
3,258
+4.7%
Operating lease liabilities
231
246
142
-6.3%
Finance lease liabilities
22.4
23.0
10.2
-2.6%
Other liabilities
1,781
2,274
1,611
-21.7%
Total liabilities and equity
13,215
11,978
9,626
+10.3%
Fixed assets
4,402
3,451
2,524
+27.6%
Goodwill
1,578
1,578
1,938
0.0%
Intangible assets
299
360
496
-16.8%
Investments
0.0
n/a
n/a
Cash and equivalents
2,483
2,919
1,353
-14.9%
Receivables
935
842
809
+11.1%
Inventory
2,112
1,617
1,380
+30.6%
Other assets
1,407
1,212
1,127
+16.0%
Total assets
13,215
11,978
9,626
+10.3%
10-K for the year ended 31 December 2023, filed 5 February 2024: the filing.