ON ON Semiconductor Corporation - Common Stock
About ON Semiconductor Corporation - Common Stock Company overview from Wikipedia
ON Semiconductor Corporation is an American semiconductor supplier company, based in Scottsdale, Arizona. Products include power and signal management, logic, discrete, and custom devices for automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace and power applications. onsemi runs a network of manufacturing facilities, sales offices and design centers in North America, Europe, and the Asia Pacific regions. Based on its 2016 revenues of $3.907 billion, onsemi ranked among the worldwide top 20 semiconductor sales leaders, and was ranked No. 483 on the 2022 Fortune 500 based on its 2021 sales.
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ON Semiconductor Corporation (stylized and doing business as onsemi) is an American semiconductor supplier company, based in Scottsdale, Arizona. Products include power and signal management, logic, discrete, and custom devices for automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace and power applications. onsemi runs a network of manufacturing facilities, sales offices and design centers in North America, Europe, and the Asia Pacific regions. Based on its 2016 revenues of $3.907 billion, onsemi ranked among the worldwide top 20 semiconductor sales leaders, and was ranked No. 483 on the 2022 Fortune 500 based on its 2021 sales.
History
The company was founded in 1999. It was originally a spinoff of Motorola's Semiconductor Components Group headquartered in Phoenix, Arizona. It continues to manufacture Motorola's discrete, standard analog, and standard logic devices. On April 28, 2000, Onsemi launched its initial public offering (IPO).
Steve Hanson was the first president and chief executive officer of the company until 2002. Keith Jackson from Fairchild Semiconductor replaced Hanson as the second leader for the next 20 years. Major acquisitions added SANYO Semiconductor in 2011 and Fairchild Semiconductor in 2016, with total workforce over 30,000 and expanded its product portfolio.
In April 2019, the company signed the UN Global Compact. In September 2020, chief executive officer Keith Jackson announced his retirement from the company. In December 2020, Hassane El-Khoury, previously the president and chief executive officer of Cypress Semiconductor, succeeded Jackson. In August 2021, to better reflect its broad technology portfolio, differentiated product lines, and market leadership, ON Semiconductor rebranded itself as onsemi. In February 2022, it was announced that BelGaN Group BV had completed the acquisition of all shares of ON Semiconductor Belgium BV from the onsemi group.
Acquisitions
2000s
In April 2000, onsemi completed the acquisition of Cherry Semiconductor Corp. (CSC) for $250 million. CSC was founded in 1972 as Micro Components Corporation (MCC). CSC was headquartered in East Greenwich, Rhode Island, USA.
In 2003, onsemi acquired TESLA SEZAM (manufacturer of semiconductor chips) and TEROSIL (production of silicon) in the Czech Republic. Both of these companies were the successors of the former state-owned company TESLA.
In May 2006, onsemi completed the acquisition of LSI Logic Gresham, Oregon Design & Manufacturing Facility.
In January 2008, onsemi completed the acquisition of the CPU Voltage and PC Thermal Monitoring Business from Analog Devices, Inc., for $184 million.
In December 2008, onsemi completed the acquisition of AMI Semiconductor (previously known as American Microsystems) for $915 million.
On July 17, 2008, onsemi and Catalyst Semiconductor, Inc. announced the acquisition of Catalyst Semiconductor, Inc. by onsemi for $115 million. On October 9, 2008, Catalyst Semiconductor, Inc. announced the approval of the acquisition. On October 10, 2008, onsemi announced the completion of the acquisition.
In November 2009, onsemi completed the acquisition of PulseCore Semiconductor for $17 million.
In December 2009, onsemi announced the acquisition of California Micro Devices.
2010s
In June 2010, onsemi completed the acquisition of Sound Design Technologies, Ltd., for $22 million.
In January 2011, onsemi completed the acquisition of SANYO Semiconductor.
In February 2011, onsemi completed the acquisition of the CMOS Image Sensor Business Unit from Cypress Semiconductor, for $31.4 million.
In May 2014, onsemi completed the acquisition of Truesense Imaging, Inc.
In June 2014, onsemi announced a $400 million deal to acquire California-based Aptina Imaging Corp.
In July 2014, onsemi and Fujitsu Semiconductor announced Strategic Partnership (including foundry services agreement and the definitive agreement pursuant to which onsemi will become a 10% shareholder of Fujitsu's 8-inch wafer fab in Aizuwakamatsu, Japan)
In July 2015, onsemi completed the acquisition of Axsem AG.
In November 2015, onsemi announced the acquisition of Fairchild Semiconductor for $2.4 billion.
In August 2016, onsemi has entered into a definitive agreement with respect to the divestiture of the ignition IGBT business to Littelfuse and has also entered into a separate definitive agreement with Littelfuse to sell its transient voltage suppression diode and switching thyristor product lines, for a combined $104 million in cash.
In September 2016, onsemi completed the acquisition of Fairchild Semiconductor.
In March 2017, onsemi announced that it would acquire and license mmWave technology for automotive radar applications developed by IBM's Haifa, Israel, research team. It included staff, equipment, research facilities and intellectual property.
In May 2018, onsemi acquired Ireland-based company, SensL Technologies Ltd.
In June 2019, onsemi acquired Quantenna Communications, a fabless semiconductor company which was headquartered in Fremont, California with offices in India, Europe, America and Taipei, for about $1 billion. In October 2021, Bloomberg News reported that onsemi was looking to sell off Quantenna's assets. After failing to find a buyer, onsemi shut down the division in 2022.
In April 2019, onsemi agreed to acquire GlobalFoundries 300mm wafer fabrication facility in East Fishkill, New York. In February 2023, it was announced the acquisition had been completed.
2020s
In August 2021 onsemi agreed to acquire GT Advanced Technologies.
In July 2024 onsemi completed the acquisition of SWIR Vision Systems.
In December 2024 onsemi announced to acquire Qorvo's Silicon Carbide JFET Business, including United Silicon Carbide Subsidiary
In October 2025 onsemi announced it has completed the acquisition of rights to Vcore power technologies, including associated intellectual property (IP) licenses, from Aura Semiconductor.
In June 2026, Onsemi announced plans to acquire Synaptics in a $7 billion all-stock deal.
Products
onsemi manufactures products in the following areas:
Custom: ASICs; Custom Foundry Services; Custom ULP Memory; Custom CMOS Image Sensors; Integrated passive devices
Discrete: Bipolar Transistors; Diodes & Rectifiers; IGBTs & FETs; Thyristors; Silicon Carbide (SiC)
Power Management: AC/DC Controllers & Regulators; DC/DC Controllers, Converters, & Regulators; Drivers; Thermal Management; Voltage & Current Management
Logic: Clock Generation; Clock & Data Distribution; Memory; Microcontrollers; Standard Logic
Signal Management: Amplifiers & Comparators; Analog Switches; Audio/Video ASSP; Digital Potentiometers; EMI/RFI Filters; Interfaces; Optical, Image, & Touch Sensors
In 2013, the company introduced the industry's highest resolution optical image stabilization (OIS) integrated circuit (IC) for smartphone camera modules. As of December 2025, onsemi has more than 25,000 Portfolio SKUs.
Corporate responsibility
Onsemi plans to achieve net-zero emissions by 2040. The industrial and automotive sectors, which are among the company's most important end markets, are responsible for more than 65% of global greenhouse gas emissions. This highlights the need for climate initiatives.
In May 2024, the company's ESG risk rating was at 20.8%.
Operations
The company has three segments:
Analog and Mixed-Signal Group (AMG)
Intelligent Sensing Group (ISG)
Power Solutions Group (PSG)
Facilities
There are several Solution Engineering Centers (SEC) and Design Centers around the world. The company established the "onsemi Silicon Carbide Crystal Center" at the Penn State's Materials Research Institute in 2023. Solution Engineering Centers are in the United States, Germany, South Korea, China, Taiwan, Japan, Slovakia, and Sweden. Design centers are located in the United States, Canada, Belgium, Czech Republic, Germany, Ireland, Romania, Slovakia, Sweden, Switzerland, India, Israel, Italy, Japan, South Korea, and Taiwan. The company has manufacturing facilities in Canada, the United States, the Czech Republic, China, Japan, Malaysia, South Korea, the Philippines, and Vietnam. As of March 1, 2023, onsemi's headquarters was located in Scottsdale, Arizona.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
ON Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
ON Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
ON Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 5 13.2%
- Buy 13 34.2%
- Hold 20 52.6%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
25 analysts · 2026-08-17Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.74 | $0.74 | 0.00% |
| March 31, 2026 | $0.64 | $0.62 | 0.02% |
| Dec. 31, 2025 | $0.64 | $0.64 | -0.00% |
| Sept. 30, 2025 | $0.63 | $0.61 | 0.02% |
| June 30, 2025 | $0.53 | $0.55 | -0.02% |
| March 31, 2025 | $0.55 | $0.52 | 0.03% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ON | $21.48B | 186.7 | -15.3% | 2.0% | 1.5% | 33.1% |
| ALAB | $28.31B | 136.4 | 115.1% | 25.7% | 17.5% | 75.7% |
| CBRS | — | — | — | — | — | — |
| MRVL | $68.75B | 26.4 | 42.1% | 32.6% | 19.3% | 51.0% |
| MCHP | $35.02B | 293.7 | 7.1% | 4.9% | 3.5% | 57.7% |
| GFS | — | — | — | — | — | — |
| MTSI | $9.49B | -174.5 | 32.6% | -5.6% | -4.3% | 54.7% |
| FSLR | $28.03B | 18.4 | 24.1% | 29.3% | 16.9% | 40.6% |
| SITM | $9.29B | -205.3 | 61.2% | -13.1% | -3.8% | 53.6% |
| LSCC | $10.76B | 3932.5 | 2.7% | 0.59% | 0.44% | 68.2% |
| SMTC | $7.51B | -176.1 | 15.5% | -3.9% | -7.3% | 51.6% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.00B | $7.08B | $8.25B | $8.33B | $6.74B | $5.25B | $5.52B | $5.88B | $5.54B | $3.91B | $3.50B | $3.16B | |
| Cost of Revenue | $4.01B | $3.87B | $4.37B | $4.25B | $4.03B | $3.54B | $3.54B | $3.64B | $3.51B | $2.61B | $2.30B | $2.08B | |
| Gross Profit | $1.98B | $3.22B | $3.88B | $4.08B | $2.71B | $1.72B | $1.97B | $2.24B | $2.04B | $1.30B | $1.19B | $1.08B | |
| SG&A Expense | $349M | $376M | $362M | $343M | $305M | $259M | $284M | $293M | $285M | $230M | $182M | $181M | |
| Operating Expenses | $1.90B | $1.45B | $1.34B | $1.72B | $1.43B | $1.37B | $1.54B | $1.39B | $1.35B | $1.05B | $932M | $856M | |
| Operating Income | $84M | $1.77B | $2.54B | $2.36B | $1.29B | $349M | $433M | $847M | $682M | $247M | $261M | $229M | |
| Interest Expense | · | · | $75M | $95M | $130M | $168M | $148M | $128M | $141M | $145M | $50M | $34M | |
| Interest Income | $95M | $111M | $93M | $16M | $1M | $5M | $10M | $6M | $3M | $4M | $1M | $2M | |
| Other Non-op | $23M | $21M | $-7M | $22M | $18M | $-9M | $-12M | $-7M | $-9M | $-11M | $8M | $-4M | |
| Pretax Income | $131M | $1.84B | $2.54B | $2.36B | $1.16B | $177M | $277M | $755M | $548M | $181M | $220M | $192M | |
| Income Tax | $8M | $263M | $350M | $458M | $147M | $-60M | $63M | $125M | $-266M | $-4M | $11M | $-200.0K | |
| Net Income | $121M | $1.57B | $2.18B | $1.90B | $1.01B | $234M | $212M | $627M | $811M | $182M | $206M | $190M | |
| EPS (Basic) | $0.29 | $3.68 | $5.07 | $4.39 | $2.37 | $0.57 | $0.52 | $1.48 | $1.92 | $0.44 | $0.49 | $0.43 | |
| EPS (Diluted) | $0.29 | $3.63 | $4.89 | $4.25 | $2.27 | $0.56 | $0.51 | $1.44 | $1.89 | $0.43 | $0.48 | $0.43 | |
| Shares (Basic) | 411,000,000 | 427,400,000 | 430,700,000 | 433,200,000 | 425,700,000 | 410,700,000 | 410,900,000 | 423,800,000 | 421,900,000 | 415,200,000 | 421,200,000 | 439,500,000 | |
| Shares (Diluted) | 411,800,000 | 432,700,000 | 446,800,000 | 448,200,000 | 443,800,000 | 418,800,000 | 416,000,000 | 435,900,000 | 428,300,000 | 420,000,000 | 427,800,000 | 443,500,000 | |
| EBITDA | $770M | $2.41B | $3.15B | $2.91B | $1.88B | $974M | $1.03B | $1.36B | $1.16B | $600M | $619M | $498M |
Balance Sheet 31
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.15B | $2.69B | $2.48B | $2.92B | $1.35B | $1.08B | $894M | $1.07B | $949M | $1.03B | $618M | $512M | |
| Short-term Investments | $400M | $300M | $0 | · | · | · | · | · | · | · | $0 | $6M | |
| Receivables | $908M | $1.16B | $935M | $842M | $809M | $676M | $705M | $686M | $702M | $630M | $426M | $418M | |
| Inventory | $1.99B | $2.24B | $2.11B | $1.62B | $1.38B | $1.25B | $1.23B | $1.23B | $1.09B | $1.03B | $750M | $730M | |
| Prepaid Expense | · | · | · | · | · | · | · | · | · | · | $13M | $29M | |
| Other Current Assets | $353M | $353M | $382M | $351M | $240M | $176M | $188M | $187M | $193M | $181M | $97M | $141M | |
| Current Assets | $5.82B | $6.75B | $5.91B | $5.73B | $3.78B | $3.18B | $3.02B | $3.17B | $2.93B | $2.87B | $1.89B | $1.81B | |
| PP&E (Net) | $3.37B | $4.36B | $4.40B | $3.45B | $2.52B | $2.51B | $2.59B | $2.55B | $2.28B | $2.16B | $1.27B | $1.20B | |
| PP&E (Gross) | $7.54B | $8.32B | $7.93B | $6.61B | $5.86B | · | $5.26B | $4.93B | $4.35B | $3.99B | $2.89B | $2.70B | |
| Accum. Depreciation | $4.17B | $3.96B | $3.53B | $3.16B | $3.34B | · | $2.67B | $2.38B | $2.07B | $1.83B | $1.61B | $1.49B | |
| Goodwill | $1.68B | $1.59B | $1.58B | $1.58B | $1.94B | $1.66B | $1.66B | $932M | $917M | $925M | $271M | $264M | |
| Intangibles | $344M | $258M | $299M | $360M | $496M | $469M | $590M | $566M | $628M | $762M | $326M | $458M | |
| Other Non-current Assets | $356M | $360M | $381M | $439M | $498M | $410M | $256M | $105M | $98M | $70M | $63M | $90M | |
| Total Assets | $12.52B | $14.09B | $13.22B | $11.98B | $9.63B | $8.67B | $8.43B | $7.59B | $7.20B | $6.92B | $3.87B | $3.82B | |
| Accounts Payable | $572M | $574M | $726M | $852M | $635M | $573M | $544M | $672M | $548M | $434M | $338M | $378M | |
| Accrued Liabilities | $715M | $760M | $663M | $1.05B | $735M | $570M | $539M | $659M | $613M | $405M | $246M | $288M | |
| Current Liabilities | $1.29B | $1.33B | $2.18B | $2.06B | $1.54B | $1.67B | $1.82B | $1.47B | $1.41B | $1.50B | $1.24B | $1.04B | |
| Capital Leases | $214M | $245M | $231M | $246M | $142M | $116M | $88M | · | · | · | · | · | |
| Deferred Tax | $42M | $38M | $39M | $34M | $43M | $57M | $60M | $55M | $55M | $289M | $17M | · | |
| Other Non-current Liabilities | $498M | $536M | $627M | $607M | $511M | $418M | $346M | $242M | $226M | $186M | $131M | $152M | |
| Total Liabilities | $4.83B | $5.28B | $5.41B | $5.77B | $5.02B | $5.11B | $5.10B | $4.39B | $4.39B | $5.05B | $2.24B | $2.17B | |
| Long-term Debt | $2.98B | $3.35B | $3.38B | $3.23B | $3.26B | $3.59B | $3.75B | $2.94B | $3.17B | $3.81B | $1.52B | $1.21B | |
| Total Debt | $2.98B | $3.35B | $3.34B | $3.19B | $3.07B | $3.49B | $3.61B | $2.77B | $2.95B | $3.62B | $1.39B | $1.19B | |
| Common Stock | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $5M | $5M | $5M | |
| Paid-in Capital | $5.54B | $5.37B | $5.21B | $4.67B | $4.63B | $4.13B | $3.81B | $3.70B | $3.59B | $3.47B | $3.42B | $3.28B | |
| Retained Earnings | $8.24B | $8.12B | $6.55B | $4.36B | $2.44B | $1.43B | $1.19B | $980M | $352M | $-527M | $-709M | $-916M | |
| Treasury Stock | $6.06B | $4.64B | $3.94B | $2.83B | $2.45B | $1.97B | $1.65B | $1.48B | $1.13B | $1.08B | $1.07B | $703M | |
| AOCI | $-56M | $-62M | $-45M | $-23M | $-41M | $-58M | $-54M | $-38M | $-41M | $-50M | $-42M | $-42M | |
| Stockholders' Equity | $7.67B | $8.80B | $7.78B | $6.19B | $4.59B | $3.54B | $3.30B | $3.17B | $2.78B | $1.82B | $1.61B | $1.63B | |
| Liabilities + Equity | $12.52B | $14.09B | $13.22B | $11.98B | $9.63B | $8.67B | $8.43B | $7.59B | $7.20B | $6.92B | $3.87B | $3.82B | |
| Shares Outstanding | 396,740,551 | 622,655,553 | 616,281,996 | 608,367,713 | 603,044,079 | 570,766,439 | 565,562,607 | 413,834,227 | 425,118,194 | 418,941,713 | 412,039,805 | 434,100,017 |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $686M | $643M | $610M | $552M | $597M | $625M | $593M | $509M | $482M | $364M | $358M | $269M | |
| Stock-based Comp | $144M | $136M | $121M | $101M | $101M | $68M | $79M | $78M | $70M | $56M | $47M | $46M | |
| Amort. of Intangibles | $44M | $52M | $51M | $81M | $99M | $120M | $115M | $112M | $124M | $105M | $136M | $68M | |
| Restructuring | · | · | · | $11M | $68M | $52M | $25M | $4M | $10M | $33M | $11M | $28M | |
| Other Non-cash | $808M | $-445M | $-937M | $78M | $74M | $-43M | $-190M | $60M | $-268M | $-21M | $-140M | $-23M | |
| Operating Cash Flow | $1.76B | $1.91B | $1.98B | $2.63B | $1.78B | $884M | $695M | $1.27B | $1.09B | $581M | $471M | $481M | |
| CapEx | $341M | $694M | $1.54B | $1.04B | $445M | $384M | $535M | $515M | $388M | $211M | $271M | $204M | |
| Investing Cash Flow | $-538M | $-1.01B | $-1.74B | $-705M | $-915M | $-454M | $-1.51B | $-549M | $-365M | $-2.44B | $-264M | $-566M | |
| Net Debt Issued | $-375M | $0 | $-1.72B | $-530M | $-1.27B | $-2.02B | $-594M | $-298M | $-1.83B | $-314M | $-496M | $-91M | |
| Stock Repurchased | $1.38B | $654M | $564M | $260M | $0 | $65M | $139M | $315M | $25M | $0 | $348M | $122M | |
| Net Stock Activity | $-1.38B | $-654M | $-564M | $-260M | $0 | $-65M | $-139M | $-315M | $-25M | $0 | $-348M | $-122M | |
| Financing Cash Flow | $-1.76B | $-684M | $-686M | $-370M | $-569M | $-244M | $623M | $-605M | $-811M | $2.26B | $-100M | $91M | |
| Net Change in Cash | $-544M | $208M | $-448M | $1.56B | $296M | $187M | $-193M | $120M | $-79M | $409M | $106M | $2M | |
| Taxes Paid | · | $348M | $428M | $443M | $88M | $52M | $63M | $53M | $68M | $27M | $20M | $18M | |
| Free Cash Flow | $1.42B | $1.21B | $402M | $1.63B | $1.34B | $501M | $160M | $759M | $707M | $370M | $200M | $277M | |
| Levered FCF | · | · | $337M | $1.55B | $1.22B | $275M | $45M | $652M | $497M | $222M | $153M | $243M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.1% | 45.4% | 47.1% | 49.0% | 40.3% | · | · | 38.1% | 36.7% | 33.2% | 34.1% | 34.3% | |
| Operating Margin | 1.4% | 25.0% | 30.8% | 28.3% | 19.1% | · | · | 14.4% | 12.3% | 6.0% | 7.5% | 7.2% | |
| Net Margin | 2.0% | 22.2% | 26.5% | 22.9% | 15.0% | · | · | 10.7% | 14.6% | 4.7% | 5.9% | 6.0% | |
| Pretax Margin | 2.2% | 25.9% | 30.7% | 28.4% | 17.2% | · | · | 12.8% | 9.9% | 4.6% | 6.3% | 6.1% | |
| EBITDA Margin | 12.8% | 34.0% | 38.1% | 35.0% | 28.0% | · | · | 23.1% | 21.0% | 15.4% | 17.7% | 15.7% | |
| ROA | 0.91% | 11.5% | 17.3% | 17.6% | 11.0% | 2.7% | 2.6% | 8.5% | 11.5% | 3.4% | 5.4% | 5.3% | |
| ROE | 1.5% | 19.0% | 31.3% | 35.3% | 24.9% | 6.9% | 6.5% | 21.1% | 35.2% | 10.6% | 12.8% | 12.2% | |
| ROIC | 0.74% | 12.5% | 19.7% | 20.3% | 14.7% | 6.6% | 4.8% | 11.9% | 17.6% | 4.4% | 8.3% | 8.1% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.5 | 5.1 | 2.7 | 2.8 | 2.5 | 1.9 | 1.7 | 2.2 | 2.1 | 1.9 | 1.5 | 1.7 | |
| Quick Ratio | 2.7 | 3.1 | 1.6 | 1.8 | 1.4 | 1.0 | 0.9 | 1.2 | 1.2 | 1.1 | 0.8 | 0.9 | |
| Debt / Equity | 0.4 | 0.4 | 0.4 | 0.5 | 0.7 | 1.0 | 1.1 | 0.9 | 1.1 | 2.0 | 0.9 | 0.7 | |
| LT Debt / Equity | 0.4 | 0.4 | 0.3 | 0.5 | 0.6 | 0.8 | 0.9 | 0.8 | 1.0 | 1.7 | 0.5 | 0.6 | |
| Interest Coverage | · | · | 33.9 | 24.9 | 9.9 | 2.1 | 2.9 | 6.6 | 4.8 | 1.6 | 5.3 | 6.7 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.5 | 0.7 | 0.8 | 0.7 | · | · | 0.8 | 0.8 | 0.7 | 0.9 | 0.9 | |
| Inventory Turnover | 1.9 | 1.8 | 2.3 | 2.8 | 3.1 | 2.8 | 2.9 | 3.1 | 3.3 | 2.9 | 3.1 | 3.1 | |
| Receivables Turnover | 5.8 | 6.8 | 9.3 | 10.1 | 9.1 | · | · | 8.5 | 8.3 | 7.4 | 8.3 | 7.9 |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -15.3% | -14.2% | -0.88% | 23.5% | 28.2% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -10.4% | 1.7% | 16.2% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 2.7% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -92.0% | -25.8% | 15.1% | 87.2% | 305.4% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -59.1% | 16.9% | 105.9% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | -12.3% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -92.3% | -28.0% | 14.8% | 88.4% | 331.1% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -60.1% | 15.9% | 110.5% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -12.4% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $6.00B | $7.08B | $8.25B | $8.33B | $6.74B | $5.25B | $5.52B | $5.88B | $5.54B | $3.91B | $3.50B | $3.16B | |
| Net Income TTM | $121M | $1.57B | $2.18B | $1.90B | $1.01B | $234M | $212M | $627M | $811M | $182M | $206M | $190M | |
| Market Cap | $21.48B | $26.67B | $35.62B | $26.94B | $29.37B | $13.48B | $10.03B | $6.83B | $8.90B | $5.35B | $4.04B | $4.40B | |
| Enterprise Value | $21.92B | $27.02B | $36.47B | $27.21B | $31.10B | $15.89B | $12.75B | $8.53B | $10.90B | $7.94B | $4.81B | $5.07B | |
| P/E | 186.7 | 17.4 | 17.1 | 14.7 | 29.9 | 58.4 | 47.8 | 11.5 | 11.1 | 29.7 | 20.4 | 23.6 | |
| P/S | 3.6 | 3.8 | 4.3 | 3.2 | 4.4 | 2.6 | 1.8 | 1.2 | 1.6 | 1.4 | 1.2 | 1.4 | |
| P/B | 2.8 | 3.0 | 4.6 | 4.4 | 6.4 | 3.8 | 3.0 | 2.2 | 3.2 | 2.9 | 2.5 | 2.7 | |
| P / Tangible Book | 3.8 | 3.8 | 6.0 | 6.3 | 13.6 | 9.6 | · | · | · | · | · | · | |
| P / Cash Flow | 12.2 | 14.0 | 18.0 | 10.2 | 16.5 | 15.2 | 14.4 | 5.4 | 8.1 | 9.2 | 8.6 | 9.1 | |
| P / FCF | 15.1 | 22.0 | 88.6 | 16.5 | 22.0 | 26.9 | 62.6 | 9.0 | 12.6 | 14.4 | 20.2 | 15.9 | |
| EV / EBITDA | 28.5 | 11.2 | 11.6 | 9.3 | 16.5 | 16.3 | 12.4 | 6.3 | 9.4 | 13.2 | 7.8 | 10.2 | |
| EV / FCF | 15.4 | 22.3 | 90.7 | 16.7 | 23.3 | 31.7 | 79.6 | 11.2 | 15.4 | 21.4 | 24.1 | 18.3 | |
| EV / Revenue | 3.7 | 3.8 | 4.4 | 3.3 | 4.6 | 3.0 | 2.3 | 1.5 | 2.0 | 2.0 | 1.4 | 1.6 | |
| Earnings Yield | 0.54% | 5.8% | 5.9% | 6.8% | 3.3% | 1.7% | 2.1% | 8.7% | 9.0% | 3.4% | 4.9% | 4.2% |
Income Statement 17
| Metric | Trend | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.60B | $1.51B | $1.53B | $1.47B | $1.45B | $1.72B | $1.76B | $1.74B | $1.86B | $2.02B | $2.18B | $2.09B | $1.96B | $2.10B | $2.19B | |
| Cost of Revenue | $987M | $930M | $979M | $917M | $1.15B | $943M | $962M | $951M | $1.01B | $1.08B | $1.15B | $1.10B | $1.04B | $1.08B | $1.13B | |
| Gross Profit | $616M | $583M | $551M | $552M | $294M | $779M | $799M | $784M | $854M | $942M | $1.03B | $993M | $918M | $1.02B | $1.06B | |
| SG&A Expense | $102M | $89M | $86M | $91M | $84M | $100M | $96M | $85M | $95M | $89M | $111M | $87M | $76M | $97M | $85M | |
| Operating Expenses | $358M | $636M | $351M | $358M | $868M | $370M | $354M | $396M | $328M | $330M | $344M | $319M | $353M | $316M | $634M | |
| Operating Income | $259M | $-53M | $200M | $193M | $-574M | $409M | $445M | $388M | $525M | $612M | $687M | $675M | $565M | $704M | $424M | |
| Interest Expense | · | · | · | · | · | · | · | · | $16M | · | $16M | $16M | $26M | · | $24M | |
| Interest Income | $17M | $18M | $21M | $25M | $27M | $28M | $29M | $27M | $28M | $26M | $26M | $24M | $17M | $9M | $5M | |
| Other Non-op | $9M | $4M | $14M | $2M | $4M | $21M | $-4M | $2M | $1M | $-12M | $1M | $-1M | $5M | $12M | $900.0K | |
| Pretax Income | · | · | · | · | · | · | · | · | · | · | · | $682M | $546M | $763M | $407M | |
| Income Tax | $43M | $-12M | $35M | $30M | $-76M | $63M | $52M | $64M | $84M | $48M | $115M | $104M | $84M | $159M | $95M | |
| Net Income | $227M | $-33M | $182M | $170M | $-486M | $380M | $402M | $338M | $453M | $563M | $583M | $577M | $462M | $604M | $312M | |
| EPS (Basic) | $0.58 | $-0.08 | $0.44 | $0.41 | $-1.15 | $0.89 | $0.94 | $0.79 | $1.06 | $1.31 | $1.35 | $1.34 | $1.07 | $1.40 | $0.72 | |
| EPS (Diluted) | $0.56 | $-0.08 | $0.44 | $0.41 | $-1.15 | $0.88 | $0.93 | $0.78 | $1.04 | $1.28 | $1.29 | $1.29 | $1.03 | $1.35 | $0.70 | |
| Shares (Basic) | 390,300,000 | 394,100,000 | -3,300,000 | 414,600,000 | 421,300,000 | -856,800,000 | 427,000,000 | 429,100,000 | 428,100,000 | -864,100,000 | 431,200,000 | 431,700,000 | 431,900,000 | -300,000 | 432,900,000 | |
| Shares (Diluted) | 404,400,000 | 394,100,000 | -2,500,000 | 414,900,000 | 421,300,000 | -868,700,000 | 431,700,000 | 433,200,000 | 436,500,000 | -901,100,000 | 450,700,000 | 448,700,000 | 448,500,000 | -100,000 | 448,700,000 | |
| EBITDA | $259M | $233M | · | $193M | $-406M | · | $445M | $388M | $680M | · | $687M | $675M | $710M | · | $424M |
Balance Sheet 30
| Metric | Trend | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $3.51B | $2.00B | $2.15B | $2.53B | $2.76B | $2.69B | $2.47B | $2.23B | $2.61B | $2.48B | $2.68B | $2.62B | $2.70B | $2.92B | $2.45B | |
| Short-term Investments | $350M | $400M | $400M | $300M | $250M | $300M | $300M | $450M | · | · | · | · | · | · | · | |
| Receivables | $897M | $863M | $908M | $927M | $825M | $1.16B | $1.07B | $887M | $873M | · | $958M | $944M | $881M | · | $857M | |
| Inventory | $2.05B | $2.05B | $1.99B | $2.09B | $2.08B | $2.24B | $2.24B | $2.22B | $2.15B | · | $2.08B | $1.96B | $1.81B | · | $1.58B | |
| Other Current Assets | $441M | $420M | $353M | $447M | $365M | $353M | $461M | $532M | $514M | · | $363M | $399M | $318M | · | $292M | |
| Current Assets | $7.28B | $5.78B | $5.82B | $6.35B | $6.33B | $6.75B | $6.54B | $6.33B | $6.15B | · | $6.09B | $5.93B | $5.72B | · | $5.31B | |
| PP&E (Net) | $2.92B | $3.04B | $3.37B | $3.71B | $3.84B | $4.36B | $4.38B | $4.37B | $4.38B | · | $4.31B | $3.99B | $3.69B | · | $2.76B | |
| PP&E (Gross) | · | · | $7.54B | $7.78B | $7.83B | $8.32B | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $4.17B | $4.06B | $3.99B | $3.96B | · | · | · | · | · | · | · | · | · | |
| Goodwill | $1.69B | $1.68B | $1.68B | $1.64B | $1.64B | $1.59B | $1.59B | $1.58B | $1.58B | · | $1.58B | $1.58B | $1.58B | · | $1.60B | |
| Intangibles | $329M | $332M | $344M | $297M | $309M | $258M | $273M | $275M | $289M | · | $313M | $326M | $340M | · | $374M | |
| Other Non-current Assets | $247M | $254M | $356M | $327M | $351M | $360M | $367M | $388M | $392M | · | $369M | $390M | $429M | · | $645M | |
| Total Assets | $13.49B | $12.01B | $12.52B | $13.13B | $13.25B | $14.09B | $13.92B | $13.66B | $13.48B | · | $13.28B | $12.76B | $12.27B | · | $11.10B | |
| Accounts Payable | $498M | $486M | $572M | $474M | $497M | $574M | $598M | $618M | $666M | · | $911M | $908M | $976M | · | $792M | |
| Accrued Liabilities | $801M | $699M | $715M | $790M | $781M | $760M | $734M | $684M | $678M | · | $665M | $654M | $666M | · | $767M | |
| Current Liabilities | $2.10B | $1.19B | $1.29B | $1.26B | $1.28B | $1.33B | $2.13B | $2.10B | $2.14B | · | $2.49B | $2.48B | $2.58B | · | $1.76B | |
| Capital Leases | $202M | $208M | $214M | $226M | $251M | $245M | $251M | $249M | $234M | · | $227M | $233M | $245M | · | $203M | |
| Deferred Tax | $47M | $46M | $42M | $40M | $46M | $38M | $43M | $40M | $37M | · | $35M | $38M | $37M | · | $30M | |
| Other Non-current Liabilities | $418M | $452M | $498M | $486M | $511M | $536M | $579M | $595M | $599M | · | $685M | $677M | $629M | · | $586M | |
| Total Liabilities | $6.25B | $4.69B | $4.83B | $5.17B | $5.21B | $5.28B | $5.32B | $5.30B | $5.34B | · | $5.78B | $5.76B | $5.81B | · | $5.42B | |
| Long-term Debt | $4.50B | $3.00B | $2.98B | $3.38B | $3.38B | $3.35B | $3.38B | $3.38B | $3.38B | · | $3.50B | $3.50B | $3.51B | · | $3.25B | |
| Total Debt | · | · | · | · | · | · | $3.34B | $3.34B | $3.34B | · | $3.45B | $3.45B | $3.46B | · | $3.21B | |
| Common Stock | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | · | $6M | $6M | $6M | · | $6M | |
| Paid-in Capital | $5.63B | $5.58B | $5.54B | $5.45B | $5.41B | $5.37B | $5.32B | $5.28B | $5.24B | · | $4.75B | $4.71B | $4.63B | · | $4.60B | |
| Retained Earnings | $8.44B | $8.21B | $8.24B | $7.81B | $7.63B | $8.12B | $7.74B | $7.34B | $7.00B | · | $5.99B | $5.40B | $4.83B | · | $3.76B | |
| Treasury Stock | $6.79B | $6.43B | $6.06B | $5.27B | $4.97B | $4.64B | $4.44B | $4.23B | $4.08B | · | $3.21B | $3.10B | $2.99B | · | $2.69B | |
| AOCI | $-67M | $-62M | $-56M | $-50M | $-56M | $-62M | $-49M | $-57M | $-52M | · | $-45M | $-37M | $-30M | · | $-23M | |
| Stockholders' Equity | $7.22B | $7.30B | $7.67B | $7.94B | $8.03B | $8.80B | $8.58B | $8.34B | $8.12B | · | $7.48B | $6.98B | $6.45B | · | $5.66B | |
| Liabilities + Equity | $13.49B | $12.01B | $12.52B | $13.13B | $13.25B | $14.09B | $13.92B | $13.66B | $13.48B | · | $13.28B | $12.76B | $12.27B | · | $11.10B | |
| Shares Outstanding | 389,290,999 | 391,871,484 | 396,740,551 | 411,204,213 | 417,866,634 | 422,955,173 | 425,645,765 | 428,217,874 | 429,934,333 | 616,281,996 | 430,594,632 | 431,520,606 | 431,851,090 | 608,367,713 | 432,406,805 |
Cash Flow 16
| Metric | Trend | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | $287M | $215M | · | $168M | $167M | $162M | $160M | $155M | $160M | $155M | $149M | $145M | $133M | $140M | |
| Stock-based Comp | · | $37M | $38M | · | $34M | $38M | $33M | $32M | $33M | $31M | $31M | $32M | $28M | $24M | $27M | |
| Amort. of Intangibles | $10M | $10M | $11M | $11M | $11M | $14M | $13M | $13M | $13M | $12M | $12M | $12M | $15M | $16M | $22M | |
| Restructuring | $13M | $20M | · | · | $61M | · | · | · | · | · | $9M | $3M | $36M | · | $13M | |
| Other Non-cash | · | $-52M | · | · | $886M | · | · | · | $-142M | · | · | · | $-226M | · | · | |
| Operating Cash Flow | · | $239M | $554M | · | $602M | $580M | $466M | $362M | $499M | $611M | $567M | $391M | $409M | $731M | $1.00B | |
| CapEx | · | $22M | $69M | · | $148M | $157M | $160M | $153M | $234M | $354M | $433M | $431M | $322M | $373M | $271M | |
| Investing Cash Flow | · | $-17M | $-51M | · | $-215M | $-152M | $-32M | $-591M | $-235M | $-385M | $-407M | $-384M | $-562M | $-142M | $-264M | |
| Net Debt Issued | · | · | · | · | · | · | · | · | $0 | · | · | · | $-1.21B | · | · | |
| Stock Repurchased | · | $346M | $450M | · | $300M | $204M | $200M | $150M | $100M | $300M | $100M | $60M | $104M | $93M | $77M | |
| Net Stock Activity | · | $-346M | · | · | $-300M | · | · | · | $-100M | · | · | · | $-104M | · | · | |
| Financing Cash Flow | · | $-366M | $-824M | · | $-318M | $-203M | $-197M | $-153M | $-131M | $-432M | $-101M | $-90M | $-63M | $-130M | $-80M | |
| Net Change in Cash | · | $-144M | $-325M | · | $72M | $221M | $239M | $-384M | $132M | $-206M | $58M | $-83M | $-216M | $461M | $658M | |
| Taxes Paid | · | $47M | · | · | $22M | $53M | $49M | $221M | $24M | $101M | $100M | $192M | $35M | $114M | $127M | |
| Free Cash Flow | · | $217M | · | · | $455M | · | · | · | $276M | · | · | · | $87M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | · | · | · | $65M | · | · |
Profitability 8
| Metric | Trend | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.4% | 38.5% | · | 37.6% | 20.3% | · | 45.4% | 45.2% | 45.8% | · | 47.3% | 47.4% | 46.8% | · | 48.3% | |
| Operating Margin | 16.1% | -3.5% | · | 13.2% | -39.7% | · | 25.3% | 22.4% | 28.2% | · | 31.5% | 32.2% | 28.8% | · | 19.4% | |
| Net Margin | 14.1% | -2.2% | · | 11.6% | -33.6% | · | 22.8% | 19.5% | 24.3% | · | 26.7% | 27.5% | 23.6% | · | 14.2% | |
| Pretax Margin | · | · | · | · | · | · | · | · | · | · | · | 32.5% | 27.9% | · | 18.6% | |
| EBITDA Margin | 16.1% | 15.4% | · | 13.2% | -28.1% | · | 25.3% | 22.4% | 36.5% | · | 31.5% | 32.2% | 36.2% | · | 19.4% | |
| ROA | · | · | · | · | · | · | 2.9% | 2.6% | 3.5% | · | 4.8% | 4.9% | 4.1% | · | 3.1% | |
| ROE | · | · | · | · | · | · | 5.0% | 4.4% | 6.2% | · | 8.9% | 9.3% | 8.1% | · | 6.4% | |
| ROIC | · | · | · | · | · | · | · | · | · | · | · | 5.5% | 4.8% | · | 3.7% |
Liquidity & Solvency 5
| Metric | Trend | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | · | · | · | · | · | 3.1 | 3.0 | 2.9 | · | 2.4 | 2.4 | 2.2 | · | 3.0 | |
| Quick Ratio | · | · | · | · | · | · | 1.8 | 1.7 | 1.6 | · | 1.5 | 1.4 | 1.4 | · | 1.9 | |
| Debt / Equity | · | · | · | · | · | · | 0.4 | 0.4 | 0.4 | · | 0.5 | 0.5 | 0.5 | · | 0.6 | |
| LT Debt / Equity | · | · | · | · | · | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.4 | 0.4 | · | 0.5 | |
| Interest Coverage | · | · | · | · | · | · | · | · | 33.7 | · | 42.4 | 41.1 | 21.4 | · | 17.9 |
Efficiency 3
| Metric | Trend | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | · | · | · | · | 0.1 | 0.1 | 0.1 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | |
| Inventory Turnover | · | · | · | · | · | · | 0.4 | 0.5 | 0.5 | · | 0.6 | 0.6 | 0.6 | · | 0.8 | |
| Receivables Turnover | · | · | · | · | · | · | 1.7 | 1.9 | 2.1 | · | 2.4 | 2.0 | 2.2 | · | 2.8 |
Valuation (TTM) 14
| Metric | Trend | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $6.14B | $5.98B | · | $6.41B | $6.81B | · | $7.54B | $7.87B | $8.10B | · | $8.43B | $8.33B | $8.18B | · | $7.96B | |
| Net Income TTM | $619M | $-94M | · | $424M | $707M | · | $1.78B | $1.95B | $2.07B | · | $1.93B | $1.81B | $1.76B | · | $1.61B | |
| Market Cap | · | · | · | · | · | · | $31.66B | $29.35B | $31.62B | · | $40.02B | $40.81B | $35.55B | · | $26.95B | |
| Enterprise Value | · | · | · | · | · | · | $32.24B | $30.01B | $32.35B | · | $40.80B | $41.64B | $36.31B | · | $27.71B | |
| P/E | 60.0 | -327.3 | · | 58.4 | 21.1 | · | 18.4 | 15.6 | 15.8 | · | 21.6 | 23.4 | 20.9 | · | 17.3 | |
| P/S | · | · | · | · | · | · | 4.2 | 3.7 | 3.9 | · | 4.7 | 4.9 | 4.3 | · | 3.4 | |
| P/B | · | · | · | · | · | · | 3.7 | 3.5 | 3.9 | · | 5.3 | 5.8 | 5.5 | · | 4.8 | |
| P / Tangible Book | · | · | · | · | · | · | 4.7 | 4.5 | 5.1 | · | 7.2 | 8.0 | 7.8 | · | 7.3 | |
| P / Cash Flow | · | · | · | · | · | · | · | · | 63.4 | · | · | · | 86.9 | · | · | |
| P / FCF | · | · | · | · | · | · | · | · | 114.4 | · | · | · | 406.8 | · | · | |
| EV / EBITDA | · | · | · | · | · | · | 72.4 | 77.3 | 47.6 | · | 59.4 | 61.7 | 51.2 | · | 65.3 | |
| EV / FCF | · | · | · | · | · | · | · | · | 117.1 | · | · | · | 415.5 | · | · | |
| EV / Revenue | · | · | · | · | · | · | 4.3 | 3.8 | 4.0 | · | 4.8 | 5.0 | 4.4 | · | 3.5 | |
| Earnings Yield | 1.7% | -0.31% | · | 1.7% | 4.8% | · | 5.4% | 6.4% | 6.3% | · | 4.6% | 4.3% | 4.8% | · | 5.8% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $6.00B | $7.08B | $8.25B | $8.33B | $6.74B |
| Gross Margin % | 33.1% | 45.4% | 47.1% | 49.0% | 40.3% |
| Operating Margin % | 1.4% | 25.0% | 30.8% | 28.3% | 19.1% |
| Net Income | $121M | $1.57B | $2.18B | $1.90B | $1.01B |
| Diluted EPS | $0.29 | $3.63 | $4.89 | $4.25 | $2.27 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.4 | 0.4 | 0.4 | 0.5 | 0.7 |
| Current Ratio | 4.5 | 5.1 | 2.7 | 2.8 | 2.5 |
| Quick Ratio | 2.7 | 3.1 | 1.6 | 1.8 | 1.4 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $1.42B | $1.21B | $402M | $1.63B | $1.34B |
Latest News Recent headlines mentioning this company
- Chipmaker's biggest-ever deal triggers brutal sell-off
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- ON Semi tanks 20% following Synaptics deal as CEO defends core business
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- ON Semiconductor Corporation Q1 2026 Earnings Call Summary
- Onsemi Q1 Loss Narrows On Revenue Growth, Improved Demand
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Institutional owners (13F) 1,131 filers · $28.7B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 263 (+102 vs prior Q) | 59 (-26 vs prior Q) | 312 (+23 vs prior Q) | 339 (+49 vs prior Q) | +69.3M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| FMR LLC | $4,809,701,127 | 50,874,774 | 16.75% | Shares |
| VANGUARD GROUP INC | $2,548,461,071 | 47,062,993 | 8.88% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $2,421,774,078 | 25,616,396 | 8.44% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,856,702,353 | 19,639,331 | 6.47% | Shares |
| STATE STREET CORP | $1,754,402,888 | 18,557,255 | 6.11% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $902,220,909 | 9,553,571 | 3.14% | Shares |
| NORGES BANK | $742,824,510 | 7,857,251 | 2.59% | Shares |
| AMERIPRISE FINANCIAL INC | $500,056,896 | 5,289,325 | 1.74% | Shares |
| Jericho Capital Asset Management L.P. | $461,472,146 | 4,881,237 | 1.61% | Shares |
| GOLDMAN SACHS GROUP INC | $458,330,900 | 4,848,010 | 1.60% | Shares |
| VAN ECK ASSOCIATES CORP | $453,977,771 | 4,801,965 | 1.58% | Shares |
| Pictet Asset Management Holding SA | $400,389,910 | 4,236,710 | 1.39% | Shares |
| JANE STREET GROUP, LLC | $398,107,940 | 4,211,000 | 1.39% | Call option |
| TWO SIGMA INVESTMENTS, LP | $384,641,662 | 4,068,560 | 1.34% | Shares |
| Rafferty Asset Management, LLC | $350,257,653 | 3,704,862 | 1.22% | Shares |
| BARCLAYS PLC | $329,720,353 | 3,487,628 | 1.15% | Shares |
| BANK OF AMERICA CORP /DE/ | $293,926,940 | 3,109,022 | 1.02% | Shares |
| Assenagon Asset Management S.A. | $265,450,168 | 2,807,808 | 0.92% | Shares |
| JANE STREET GROUP, LLC | $257,054,260 | 2,719,000 | 0.90% | Put option |
| DIMENSIONAL FUND ADVISORS LP | $251,463,253 | 2,659,862 | 0.88% | Shares |
| EARNEST PARTNERS LLC | $218,668,089 | 2,312,969 | 0.76% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $208,323,428 | 2,203,548 | 0.73% | Shares |
| WELLS FARGO & COMPANY/MN | $189,080,000 | 2,000,000 | 0.66% | Call option |
| M&G PLC | $181,496,645 | 1,910,491 | 0.63% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $180,856,533 | 1,913,016 | 0.63% | Shares |
| TWO SIGMA ADVISERS, LP | $178,494,699 | 3,296,301 | 0.62% | Shares |
| Robeco Schweiz AG | $162,803,174 | 1,722,056 | 0.57% | Shares |
| NEUBERGER BERMAN GROUP LLC | $160,996,060 | 1,702,941 | 0.56% | Shares |
| CITADEL ADVISORS LLC | $159,458,160 | 1,686,674 | 0.56% | Shares |
| AMERICAN CENTURY COMPANIES INC | $157,814,960 | 1,669,293 | 0.55% | Shares |
| Point72 Asset Management, L.P. | $151,848,446 | 1,606,182 | 0.53% | Shares |
| FIRST TRUST ADVISORS LP | $151,617,295 | 1,603,737 | 0.53% | Shares |
| CITADEL ADVISORS LLC | $148,909,954 | 1,575,100 | 0.52% | Put option |
| Balyasny Asset Management L.P. | $143,488,558 | 1,517,755 | 0.50% | Shares |
| CITADEL ADVISORS LLC | $135,258,378 | 1,430,700 | 0.47% | Call option |
| Qube Research & Technologies Ltd | $131,703,674 | 1,393,100 | 0.46% | Shares |
| California Public Employees Retirement System | $126,889,414 | 1,342,177 | 0.44% | Shares |
| Slate Path Capital LP | $120,001,796 | 1,269,323 | 0.42% | Shares |
| Swiss National Bank | $104,882,676 | 1,109,400 | 0.37% | Shares |
| Brandywine Global Investment Management, LLC | $100,035,465 | 1,847,377 | 0.35% | Shares |
| Holocene Advisors, LP | $95,508,184 | 1,010,241 | 0.33% | Shares |
| Walleye Trading LLC | $92,620,838 | 979,700 | 0.32% | Call option |
| Mitsubishi UFJ Asset Management Co., Ltd. | $91,956,033 | 972,668 | 0.32% | Shares |
| D. E. Shaw & Co., Inc. | $89,635,170 | 948,119 | 0.31% | Shares |
| Vanguard Global Advisers, LLC | $80,113,574 | 847,404 | 0.28% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $80,029,623 | 846,516 | 0.28% | Shares |
| Quantinno Capital Management LP | $78,078,801 | 825,881 | 0.27% | Shares |
| BlackRock, Inc. | $77,236,817 | 816,975 | 0.27% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $76,243,296 | 806,466 | 0.27% | Shares |
| Candriam S.C.A. | $74,150,903 | 785,089 | 0.26% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $74,017,446 | 782,922 | 0.26% | Shares |
| MILLENNIUM MANAGEMENT LLC | $72,861,978 | 770,700 | 0.25% | Call option |
| JANE STREET GROUP, LLC | $70,848,654 | 749,404 | 0.25% | Shares |
| National Pension Service | $70,759,219 | 748,458 | 0.25% | Shares |
| RHUMBLINE ADVISERS | $70,750,112 | 748,363 | 0.25% | Shares |
| Orbis Allan Gray Ltd | $69,198,742 | 731,952 | 0.24% | Shares |
| BERKLEY W R CORP | $69,119,896 | 731,118 | 0.24% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $67,411,180 | 713,044 | 0.23% | Shares |
| Gotham Asset Management, LLC | $65,772,234 | 695,708 | 0.23% | Shares |
| Legal & General Group Plc | $63,951,772 | 676,452 | 0.22% | Shares |
| Caisse de depot et placement du Quebec | $63,919,439 | 676,110 | 0.22% | Shares |
| Defiance ETFs, LLC | $57,280,391 | 605,309 | 0.20% | Shares |
| FIL Ltd | $53,076,269 | 561,416 | 0.18% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $52,748,782 | 557,952 | 0.18% | Shares |
| DNB Asset Management AS | $52,233,823 | 552,505 | 0.18% | Shares |
| Junto Capital Management LP | $45,687,495 | 483,261 | 0.16% | Shares |
| ALLIANCEBERNSTEIN L.P. | $43,082,698 | 695,780 | 0.15% | Shares |
| PEAK6 LLC | $42,316,104 | 447,600 | 0.15% | Put option |
| Squarepoint Ops LLC | $42,142,718 | 445,766 | 0.15% | Shares |
| Walleye Trading LLC | $40,850,734 | 432,100 | 0.14% | Put option |
| GENDELL JEFFREY L | $40,415,850 | 427,500 | 0.14% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $38,721,526 | 427,154 | 0.13% | Shares |
| Boston Trust Walden Corp | $37,088,609 | 392,306 | 0.13% | Shares |
| GILDER GAGNON HOWE & CO LLC | $36,631,697 | 387,473 | 0.13% | Shares |
| TUDOR INVESTMENT CORP ET AL | $35,321,657 | 373,616 | 0.12% | Shares |
| TORONTO DOMINION BANK | $35,168,880 | 372,000 | 0.12% | Call option |
| BAILLIE GIFFORD & CO | $34,458,506 | 364,486 | 0.12% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $34,010,103 | 359,743 | 0.12% | Shares |
| CAMBIAR INVESTORS LLC | $33,932,675 | 358,924 | 0.12% | Shares |
| Erste Asset Management GmbH | $33,084,165 | 377,260 | 0.12% | Shares |
| DEUTSCHE BANK AG\ | $32,656,669 | 345,427 | 0.11% | Shares |
| NZS Capital, LLC | $31,721,101 | 335,531 | 0.11% | Shares |
| PEAK6 LLC | $31,557,452 | 333,800 | 0.11% | Call option |
| CAXTON ASSOCIATES LLP | $30,725,500 | 325,000 | 0.11% | Shares |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | $30,099,456 | 318,378 | 0.10% | Shares |
| ROYAL BANK OF CANADA | $29,919,000 | 316,465 | 0.10% | Shares |
| AVIVA PLC | $29,598,111 | 313,075 | 0.10% | Shares |
| Parallax Volatility Advisers, L.P. | $29,137,228 | 308,200 | 0.10% | Put option |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $29,134,598 | 470,520 | 0.10% | Shares |
| Engineers Gate Manager LP | $28,775,802 | 304,377 | 0.10% | Shares |
| Polar Capital Holdings Plc | $28,305,276 | 299,400 | 0.10% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $26,846,086 | 283,965 | 0.09% | Shares |
| Alberta Investment Management Corp | $26,631,918 | 281,700 | 0.09% | Shares |
| Portman Square Capital LLP | $26,215,942 | 277,300 | 0.09% | Put option |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $26,080,000 | 275,857 | 0.09% | Shares |
| MILLENNIUM MANAGEMENT LLC | $26,074,132 | 275,800 | 0.09% | Put option |
| UBS Group AG | $26,068,176 | 275,737 | 0.09% | Shares |
| GLENMEDE TRUST CO NA | $25,539,319 | 270,143 | 0.09% | Shares |
| Korea Investment CORP | $25,383,895 | 268,499 | 0.09% | Shares |
| Robeco Institutional Asset Management B.V. | $25,072,762 | 265,208 | 0.09% | Shares |
Company insiders 58 insiders · 13 officers · 13 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Donald A Colvin | Exec VP & CFO | Aug. 10, 2012 S | 677,743 | 0 | 0 | $0 |
| William John Nelson | Exec VP & COO | May 3, 2012 F | 704,512 | 0 | 0 | $0 |
| Mamoon Rashid | SVP, Strategic Bus Ventures | Jan. 10, 2017 M | 234,911 | 0 | 0 | $0 |
| Robert Charles Mahoney | Exec VP Sales & Marketing | May 7, 2013 S | 93,940 | 0 | 0 | $0 |
| Michael Andrew Williams | SVP & GM, Auto & Pwr Grp | Aug. 5, 2011 F | 95,478 | 0 | 0 | $0 |
| Gelu Voicu | SVP, Catalyst Group | Jan. 2, 2009 F | 349,890 | 0 | 0 | $0 |
| William George | Executive VP | March 5, 2008 F | 81,930 | 0 | 0 | $0 |
| Thomas Benton Kettlewell | SVP & GM Dig & Cons Prods Grp | March 5, 2007 A | 11,400 | 0 | 0 | $0 |
| Peter Green | SVP, Consumer & Dig Prods Grp | June 5, 2006 A | 17,500 | 0 | 0 | $0 |
| Larry W Sims | Senior Vice President | Feb. 17, 2005 A | — | 0 | 0 | $0 |
| Ramesh Ramchandani | Vice President | Feb. 5, 2004 A | — | 0 | 0 | $0 |
| Michael Heitzman | Vice President | Feb. 5, 2004 A | — | 0 | 0 | $0 |
| Charlotte Diener | Vice President | Feb. 5, 2004 A | — | 0 | 0 | $0 |
| Paul Anthony Mascarenas | Director | July 2, 2026 A | 57,590 | 0 | 0 | $0 |
| Daniel J Mccranie | Director | Feb. 17, 2017 S | 181,679 | 0 | 0 | $0 |
| Bernard L Han | Director | June 2, 2014 A | 71,483 | 0 | 0 | $0 |
| Phillip D Hester | Director | June 3, 2013 A | 63,024 | 0 | 0 | $0 |
| Robert Henry Smith | Director | June 6, 2011 A | 97,805 | 0 | 0 | $0 |
| Francis P Barton | Director | March 7, 2011 A | 57,463 | 0 | 0 | $0 |
| Christine King | Director | Aug. 8, 2008 M | 129,449 | 0 | 0 | $0 |
| Kevin R Burns | Director | March 5, 2007 A | 21,000 | 0 | 0 | $0 |
| John W Marren | Director | March 5, 2007 A | 21,000 | 0 | 0 | $0 |
| Justin T Chang | Director | March 5, 2007 A | 21,000 | 0 | 0 | $0 |
| Richard W Boyce | Director | March 5, 2007 A | 219,575 | 0 | 0 | $0 |
| Jerome N Gregoire | Director | March 5, 2007 A | 31,000 | 0 | 0 | $0 |
| FRANKE WILLIAM A | Director | Feb. 5, 2004 A | — | 0 | 0 | $0 |
| TPG ADVISORS II INC | 10% owner | May 7, 2007 S | 1,238,000 | 0 | 0 | $0 |
| Sudhir Gopalswamy | — | May 26, 2026 F | 173,588 | 0 | 1 | $-358,708 |
| Christine Y Yan | — | May 14, 2026 A | 48,655 | 0 | 0 | $0 |
| Thomas Deitrich | — | May 14, 2026 A | 26,060 | 0 | 0 | $0 |
| Gregory L Waters | — | May 14, 2026 A | 24,524 | 0 | 0 | $0 |
| Susan K Carter | — | May 14, 2026 A | 25,638 | 0 | 0 | $0 |
| Bruce E Kiddoo | — | May 14, 2026 A | 19,216 | 0 | 0 | $0 |
| Trent Thad | — | April 24, 2026 S | 271,194 | 0 | 8 | $-13,563,893 |
| Simon Keeton | — | Feb. 21, 2026 F | 214,123 | 0 | 3 | $-4,675,837 |
| Hassane El-Khoury | — | Feb. 21, 2026 F | 1,054,123 | 0 | 2 | $-1,460,454 |
| Alan Campbell | — | June 12, 2025 S | 84,689 | 0 | 0 | $0 |
| Christina Lampe-Onnerud | — | May 16, 2024 A | 4,684 | 0 | 0 | $0 |
| Atsushi Abe | — | May 16, 2024 A | 176,886 | 0 | 0 | $0 |
| Ross Jatou | — | Feb. 20, 2024 F | 112,730 | 0 | 0 | $0 |
| Bernard Raymond Colpitts JR | — | Sept. 12, 2023 S | 31,045 | 0 | 0 | $0 |
| Robert Tong | — | March 2, 2023 F | 60,143 | 0 | 0 | $0 |
| Gilles Delfassy | — | May 26, 2022 A | 55,667 | 0 | 0 | $0 |
| Vince Craig Hopkin | — | May 10, 2022 S | 169,073 | 0 | 0 | $0 |
| George H Cave | — | Sept. 8, 2021 S | 200,975 | 0 | 0 | $0 |
| Paul E Rolls | — | April 9, 2021 S | 179,446 | 0 | 0 | $0 |
| Emmanuel T Hernandez | — | March 9, 2021 S | 25,000 | 0 | 0 | $0 |
| William A. Schromm | — | Nov. 13, 2020 S | 489,025 | 0 | 0 | $0 |
| Bernard Gutmann | — | Nov. 10, 2020 S | 555,242 | 0 | 0 | $0 |
| Keith D Jackson | — | Oct. 15, 2020 S | 2,168,458 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 4 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| ON Semiconductor Corporation | Dec. 21, 2009 | — | Initial filing | — | SEC |
| TPG ON Holdings LLC, TPG Semiconductor Holdings LLC ×12 filings | May 9, 2007 | — | Initial filing | Capital structure | SEC |
| TPG ON Holdings LLC 2 =====================================================================, TPG Semiconductor Holdings LLC 2 ===================================================================== | Feb. 10, 2004 | — | Initial filing | Capital structure | SEC |
| Undisclosed reporting person | Sept. 17, 2001 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 188 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| CAMX · ADVISORS' INNER CIRCLE FUND | 4.42% | 29,000 NS | April 30, 2026 | N-PORT |
| TOLL · Tema ETF Trust | 4.29% | 17,465 NS | May 31, 2026 | N-PORT |
| MAKX · ProShares Trust | 3.45% | 1,522 NS | May 31, 2026 | N-PORT |
| EPMV · Harbor ETF Trust | 3.40% | 1,496 NS | April 30, 2026 | N-PORT |
| SMRI · EA Series Trust | 3.02% | 161,939 NS | April 30, 2026 | N-PORT |
| CHPY · Tidal Trust II | 2.42% | 149,636 NS | April 30, 2026 | N-PORT |
| EPSB · Harbor ETF Trust | 2.34% | 1,082 NS | April 30, 2026 | N-PORT |
| DRIV · Global X Funds | 1.96% | 77,508 NS | May 31, 2026 | N-PORT |
| PTF · Invesco Exchange-Traded Fund Trust | 1.74% | 137,485 SH | Aug. 8, 2026 | Daily |
| SOXX · iShares Trust | 1.64% | 9,117,986 SH | Aug. 8, 2026 | Daily |
| QQQJ · Invesco Exchange-Traded Fund Trust … | 1.53% | 223,485 SH | Aug. 8, 2026 | Daily |
| AVMV · AMERICAN CENTURY ETF TRUST | 1.48% | 76,371 NS | May 31, 2026 | N-PORT |
| SOXL · Direxion Shares ETF Trust | 1.41% | 2,370,132 NS | April 30, 2026 | N-PORT |
| GRZZ · Tidal Trust II | 1.38% | 5,108 NS | April 30, 2026 | N-PORT |
| SOXY · Tidal Trust II | 1.34% | 6,606 NS | April 30, 2026 | N-PORT |
| RNIN · EA Series Trust | 1.29% | 19,554 NS | April 30, 2026 | N-PORT |
| SOXQ · Invesco Exchange-Traded Fund Trust … | 1.27% | 450,394 SH | Aug. 8, 2026 | Daily |
| HIBL · Direxion Shares ETF Trust | 1.02% | 7,979 NS | April 30, 2026 | N-PORT |
| RSPT · Invesco Exchange-Traded Fund Trust | 0.95% | 687,115 SH | Aug. 8, 2026 | Daily |
| CHPS · DBX ETF Trust | 0.88% | 6,533 NS | May 29, 2026 | N-PORT |
| COWZ · Pacer Funds Trust | 0.84% | 1,508,443 NS | April 30, 2026 | N-PORT |
| QQWZ · Pacer Funds Trust | 0.83% | 3,860 NS | April 30, 2026 | N-PORT |
| SPHB · Invesco Exchange-Traded Fund Trust … | 0.80% | 93,009 SH | Aug. 8, 2026 | Daily |
| FFLV · FIDELITY COVINGTON TRUST | 0.78% | 1,339 NS | April 30, 2026 | N-PORT |
| PKW · Invesco Exchange-Traded Fund Trust | 0.77% | 167,550 SH | Aug. 8, 2026 | Daily |
| AVLV · AMERICAN CENTURY ETF TRUST | 0.70% | 741,601 NS | May 31, 2026 | N-PORT |
| BRNY · EA Series Trust | 0.69% | 38,122 NS | April 30, 2026 | N-PORT |
| VOE · VANGUARD INDEX FUNDS | 0.64% | 2,517,467 SH | Aug. 8, 2026 | Daily |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.64% | 21,401 NS | May 31, 2026 | N-PORT |
| BSJS · Invesco Exchange-Traded Self-Indexe… | 0.61% | 4,545,000 | Aug. 8, 2026 | Daily |
| SZNE · Pacer Funds Trust | 0.53% | 698 NS | April 30, 2026 | N-PORT |
| PDP · Invesco Exchange-Traded Fund Trust | 0.48% | 89,718 SH | Aug. 8, 2026 | Daily |
| XT · iShares Trust | 0.48% | 240,652 SH | Aug. 8, 2026 | Daily |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.45% | 333,750 NS | April 30, 2026 | N-PORT |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.44% | 31,732 NS | April 30, 2026 | N-PORT |
| IMCG · iShares Trust | 0.41% | 212,911 SH | Aug. 8, 2026 | Daily |
| VLUE · iShares Trust | 0.39% | 469,090 SH | Aug. 8, 2026 | Daily |
| XPND · First Trust Exchange-Traded Fund VI… | 0.38% | 1,289 NS | May 31, 2026 | N-PORT |
| PEXL · Pacer Funds Trust | 0.37% | 1,686 NS | April 30, 2026 | N-PORT |
| GSLC · Goldman Sachs ETF Trust | 0.37% | 474,766 NS | May 31, 2026 | N-PORT |
| VO · VANGUARD INDEX FUNDS | 0.36% | 8,492,201 SH | Aug. 8, 2026 | Daily |
| JMOM · J.P. Morgan Exchange-Traded Fund Tr… | 0.36% | 77,845 NS | April 30, 2026 | N-PORT |
| TRFM · ETF Series Solutions | 0.34% | 5,297 NS | April 30, 2026 | N-PORT |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.31% | 13,537 NS | April 30, 2026 | N-PORT |
| SPHQ · Invesco Exchange-Traded Fund Trust | 0.28% | 691,712 SH | Aug. 8, 2026 | Daily |
| IWS · iShares Trust | 0.28% | 561,882 SH | Aug. 8, 2026 | Daily |
| FTEC · FIDELITY COVINGTON TRUST | 0.28% | 492,202 NS | April 30, 2026 | N-PORT |
| AVLC · AMERICAN CENTURY ETF TRUST | 0.24% | 25,359 NS | May 31, 2026 | N-PORT |
| MTUM · iShares Trust | 0.24% | 780,130 SH | Aug. 8, 2026 | Daily |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.23% | 8,691 NS | May 31, 2026 | N-PORT |