ON Q4 2025 Earnings
Reported Feb 9, 2026 at 4:21 PM ET · SEC Source
Q4 25 EPS
$0.64
BEAT +2.63%
Est. $0.62
Q4 25 Revenue
$1.53B
MISS 0.45%
Est. $1.54B
vs S&P Since Q4 25
+59.4%
BEATING MARKET
ON +63.5% vs S&P +4.1%
Full Year 2025 Results
FY 25 EPS
$2.35
BEAT +0.32%
Est. $2.34
FY 25 Revenue
$6.00B
MISS 0.12%
Est. $6.00B
Market Reaction
Did ON Beat Earnings? Q4 2025 Results
ON Semiconductor navigated a bruising revenue environment in Q4 2025 with a modest earnings beat, posting non-GAAP EPS of $0.64 against a consensus estimate of $0.62, a 2.63% beat, even as revenue of $1.53 billion fell just short of the $1.54 billion… Read more ON Semiconductor navigated a bruising revenue environment in Q4 2025 with a modest earnings beat, posting non-GAAP EPS of $0.64 against a consensus estimate of $0.62, a 2.63% beat, even as revenue of $1.53 billion fell just short of the $1.54 billion analyst expectation and declined 11.2% year-over-year. The primary culprit behind the top-line pressure was a broad semiconductor industry downturn that squeezed pricing and drove elevated underutilization costs, compressing non-GAAP gross margin to 38.2% from 45.3% a year ago. For the full year, all three business segments retreated, with revenue falling to $6.00 billion from $7.08 billion in 2024. Against that backdrop, onsemi generated a record $1.42 billion in free cash flow, returning the entirety to shareholders via repurchases. Barclays recently initiated coverage with an equal-weight rating and a $75 price target, flagging high automotive and China exposure as key risks. Looking ahead, management guided Q1 2026 revenue to $1.44 billion to $1.53 billion, projecting sequential stabilization as key markets show early signs of recovery.
Key Takeaways
- • Increasing signs of stabilization in key automotive and industrial markets
- • Record free cash flow margin of 24% for full year 2025
- • Cost structure improvements and operational discipline
- • Major investment cycle completion with new technologies ramping
ON Forward Guidance & Outlook
For Q1 2026, onsemi projects GAAP revenue of $1,435 million to $1,535 million and non-GAAP revenue of $1,435 million to $1,535 million. GAAP gross margin is expected at 37.4% to 39.4% and non-GAAP gross margin at 37.5% to 39.5%. GAAP diluted EPS is projected at $0.28 to $0.38, while non-GAAP diluted EPS is expected at $0.56 to $0.66. The company noted increasing signs of stabilization in key markets and expects to benefit from cost structure improvements and margin expansion as conditions improve.
ON YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
ON Revenue by Segment
With YoY comparisons, source: SEC Filings
“We remained disciplined in our execution and met expectations in the fourth quarter as we saw increasing signs of stabilization in our key markets.”
— Hassane El-Khoury, Q4 2025 Earnings Press Release
ON Earnings Trends
ON vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ON EPS Trend
Earnings per share: estimate vs actual
ON Revenue Trend
Quarterly revenue: estimate vs actual
ON Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $0.62 | $0.64 | +2.63% | $1.53B | -0.45% |
| FY Full Year | $2.34 | $2.35 | +0.32% | $6.00B | -0.12% |
| Q3 25 BEAT | $0.59 | $0.63 | +6.64% | $1.55B | +2.23% |
| Q2 25 MISS | $0.53 | $0.53 | -0.39% | $1.47B | +1.21% |
| Q1 25 BEAT | $0.50 | $0.55 | +9.58% | $1.45B | +3.13% |