ON Semiconductor (ON) FY2024 results: revenue $7.1 billion, down 14.2% on the year
ON Semiconductor Corp. (ON) reported revenue of $7.1 billion for fiscal 2024, the year ended 31 December 2024, down 14.2% on the year before. Net income was $1.6 billion, down 28.0%, and diluted earnings per share $3.63. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2025.
Revenue
$7.1 billion
-14.2% on the year
FY2017FY2024
Operating margin
25.0%
30.8% a year earlier
FY2017FY2024
Net income
$1.6 billion
-28.0% on the year
FY2017FY2024
Diluted EPS
$3.63
-25.8% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,906
1,978
2,633
-3.6%
Capital expenditure
694
1,539
1,036
-54.9%
Free cash flow
1,212
438
1,597
+176.6%
Free cash flow margin
17.1%
5.3%
19.2%
Cash from investing
-1,010
-1,738
-705
Cash from financing
-684
-686
-370
Depreciation and amortisation
643
610
552
+5.5%
Share-based compensation
136
121
101
+12.4%
Buybacks
654
564
260
+15.9%
Diluted shares, weighted
433m
447m
448m
-3.2%
Shares outstanding at period end
423m
426m
432m
-0.8%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
8,796
7,783
6,188
+13.0%
Non-controlling interest
18.1
18.0
18.5
+0.6%
Debt
3,346
3,380
3,228
-1.0%
Operating lease liabilities
245
231
246
+5.9%
Finance lease liabilities
20.7
22.4
23.0
-7.6%
Other liabilities
1,664
1,781
2,274
-6.6%
Total liabilities and equity
14,090
13,215
11,978
+6.6%
Fixed assets
4,361
4,402
3,451
-0.9%
Goodwill
1,588
1,578
1,578
+0.7%
Intangible assets
258
299
360
-13.8%
Investments
300
0.0
n/a
Cash and equivalents
2,691
2,483
2,919
+8.4%
Receivables
1,160
935
842
+24.0%
Inventory
2,242
2,112
1,617
+6.2%
Other assets
1,489
1,407
1,212
+5.9%
Total assets
14,090
13,215
11,978
+6.6%
10-K for the year ended 31 December 2024, filed 10 February 2025: the filing.