ON Semiconductor Corp (ON)

Semiconductors & Related Devices

Latest Price

$76.87

TTM P/E

Normalized P/E

24.40

Div Yield

Book Value

18.54

P/B Ratio

4.15

Valuation metrics

EPS: $0.29

Book value / share: $19.34

Formula: √(22.5 × EPS × BVPS)

Graham Number

$11.23

85% downside

Norm. op. income: $1.3B (median of 7yr)

Tax rate: 14%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$26.80

65% downside

Base FCF: $1.3B (median of recent 5yr)

Growth: 23%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$221.92

+189% upside

EPS: $0.29

Target P/E: 24×

Formula: EPS × P/E

P/E Fair Value

$6.96

91% downside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
FMR LLC	56.68M	$5.36B	14.56%	-1.48M	2026-06-30
BlackRock, Inc.	40.98M	$3.87B	10.53%	+1.07M	2026-06-30
Vanguard Capital Management LLC	25.62M	$2.42B	6.58%	-16.8K	2026-06-30
Vanguard Portfolio Management LLC	19.64M	$1.86B	5.04%	-423.2K	2026-06-30
State Street Corp	18.56M	$1.75B	4.77%	+249.7K	2026-06-30
Jupiter Topco LLC	13.43M	$1.27B	3.45%	--	2026-06-30
Geode Capital Management, LLC	10.84M	$1.02B	2.78%	+72.7K	2026-06-30
JPMorgan Chase & Co	10.13M	$897.0M	2.60%	+2.38M	2026-06-30
Jane Street Group, LLC	9.96M	$941.0M	2.56%	+7.05M	2026-06-30
Goldman Sachs Group Inc	8.01M	$757.0M	2.06%	+1.30M	2026-06-30