ON Semiconductor (ON) 10-K Summary — Year Ended Dec 31, 2024
ON Semiconductor Corporation filed its annual report for the most recent fiscal year. The filing describes the company's business, financial results, risk factors, and liquidity position.
Key takeaway
Year ended Dec 31, 2024 · FY2025 10-K
ON Semiconductor Corporation filed its annual report for the most recent fiscal year. The filing describes the company's business, financial results, risk factors, and liquidity position.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$7.1B
Revenue reported for the fiscal year.
Operating income
$1.8B
Income from operations reported for the year.
Net income
$1.6B
Net income reported for the year.
Operating cash flow
$1.9B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $6.7B | n/a |
| Dec 31, 2022 | $8.3B | +23.5% |
| Dec 31, 2023 | $8.3B | -0.9% |
| Dec 31, 2024 | $7.1B | -14.2% |
Business overview
The company generates revenue through the design, manufacture, and sale of semiconductor components. It serves multiple markets including automotive, industrial, and communications. The business is subject to seasonality and government regulation.
Financial performance
Revenue for the reported period decreased compared to the prior year. Operating income and net income were positive, and operating cash flow remained strong.
Material risks
Material risks include changes in product demand, competitive pricing pressures, supply chain constraints, and the ability to manage manufacturing capacity effectively. The company also faces risks related to achieving cost reductions and executing its business strategy.
Liquidity and capital
The company expects to fund cash requirements through cash on hand, operations, borrowings under its credit facility, or new debt or equity issuances. Cash is used for operating expenses, working capital, acquisitions, debt service, capital expenditures, and stock repurchases.
What to watch
Monitor any changes in product demand and competitive pricing that could affect future revenue and cash flow.