Adjusted Financial Ratios (Summary)
Adjusted Total Asset Turnover
Adjusted Debt to Equity
Adjusted Debt to Capital
Adjusted Financial Leverage
Adjusted Net Profit Margin
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

ON Semiconductor Corp., adjusted financial ratios

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Activity Ratio
Total Asset Turnover
Reported	0.62	0.70	0.70	0.61	0.65
Adjusted	0.65	0.72	0.73	0.64	0.68
Solvency Ratios
Debt to Equity
Reported	0.43	0.52	0.68	0.99	1.09
Adjusted	0.50	0.60	0.76	1.14	1.21
Debt to Capital
Reported	0.30	0.34	0.40	0.50	0.52
Adjusted	0.33	0.37	0.43	0.53	0.55
Financial Leverage
Reported	1.70	1.94	2.10	2.45	2.55
Adjusted	1.74	1.98	2.16	2.58	2.64
Profitability Ratios
Net Profit Margin
Reported	26.46%	22.85%	14.98%	4.46%	3.84%
Adjusted	24.91%	23.25%	16.67%	2.37%	3.81%
Return on Equity (ROE)
Reported	28.06%	30.74%	22.02%	6.62%	6.41%
Adjusted	28.33%	32.98%	26.17%	3.90%	6.83%
Return on Assets (ROA)
Reported	16.52%	15.88%	10.49%	2.70%	2.51%
Adjusted	16.30%	16.68%	12.13%	1.51%	2.59%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Financial ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	ON Semiconductor Corp. adjusted total asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Adjusted debt-to-equity ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total equity.	ON Semiconductor Corp. adjusted debt-to-equity ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted debt-to-capital ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity.	ON Semiconductor Corp. adjusted debt-to-capital ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	ON Semiconductor Corp. adjusted financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023.
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	ON Semiconductor Corp. adjusted net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted total equity.	ON Semiconductor Corp. adjusted ROE improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	ON Semiconductor Corp. adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

ON Semiconductor Corp., Financial Ratios: Reported vs. Adjusted

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	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Reported
Selected Financial Data (US$ in thousands)
Revenue	8,253,000)	8,326,200)	6,739,800)	5,255,000)	5,517,900)
Total assets	13,215,200)	11,978,500)	9,626,000)	8,668,000)	8,425,500)
Activity Ratio
Total asset turnover¹	0.62	0.70	0.70	0.61	0.65
Adjusted
Selected Financial Data (US$ in thousands)
Revenue	8,253,000)	8,326,200)	6,739,800)	5,255,000)	5,517,900)
Adjusted total assets²	12,614,400)	11,601,800)	9,259,700)	8,239,000)	8,117,700)
Activity Ratio
Adjusted total asset turnover³	0.65	0.72	0.73	0.64	0.68

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ 2023 Calculation
Total asset turnover = Revenue ÷ Total assets
= 8,253,000 ÷ 13,215,200 = 0.62

² Adjusted total assets. See details »

³ 2023 Calculation
Adjusted total asset turnover = Revenue ÷ Adjusted total assets
= 8,253,000 ÷ 12,614,400 = 0.65

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Activity ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	ON Semiconductor Corp. adjusted total asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Reported
Selected Financial Data (US$ in thousands)
Total debt	3,359,800)	3,230,700)	3,097,500)	3,491,300)	3,612,500)
Total ON Semiconductor Corporation stockholders’ equity	7,782,600)	6,188,500)	4,585,400)	3,538,500)	3,301,700)
Solvency Ratio
Debt to equity¹	0.43	0.52	0.68	0.99	1.09
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted total debt²	3,623,800)	3,512,400)	3,272,400)	3,639,200)	3,726,500)
Adjusted total stockholders’ equity³	7,256,400)	5,868,800)	4,292,100)	3,192,700)	3,076,700)
Solvency Ratio
Adjusted debt to equity⁴	0.50	0.60	0.76	1.14	1.21

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ 2023 Calculation
Debt to equity = Total debt ÷ Total ON Semiconductor Corporation stockholders’ equity
= 3,359,800 ÷ 7,782,600 = 0.43

² Adjusted total debt. See details »

³ Adjusted total stockholders’ equity. See details »

⁴ 2023 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total stockholders’ equity
= 3,623,800 ÷ 7,256,400 = 0.50

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Solvency ratio	Description	The company
Adjusted debt-to-equity ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total equity.	ON Semiconductor Corp. adjusted debt-to-equity ratio improved from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Reported
Selected Financial Data (US$ in thousands)
Total debt	3,359,800)	3,230,700)	3,097,500)	3,491,300)	3,612,500)
Total capital	11,142,400)	9,419,200)	7,682,900)	7,029,800)	6,914,200)
Solvency Ratio
Debt to capital¹	0.30	0.34	0.40	0.50	0.52
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted total debt²	3,623,800)	3,512,400)	3,272,400)	3,639,200)	3,726,500)
Adjusted total capital³	10,880,200)	9,381,200)	7,564,500)	6,831,900)	6,803,200)
Solvency Ratio
Adjusted debt to capital⁴	0.33	0.37	0.43	0.53	0.55

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 3,359,800 ÷ 11,142,400 = 0.30

² Adjusted total debt. See details »

³ Adjusted total capital. See details »

⁴ 2023 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 3,623,800 ÷ 10,880,200 = 0.33

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Solvency ratio	Description	The company
Adjusted debt-to-capital ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity.	ON Semiconductor Corp. adjusted debt-to-capital ratio improved from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Reported
Selected Financial Data (US$ in thousands)
Total assets	13,215,200)	11,978,500)	9,626,000)	8,668,000)	8,425,500)
Total ON Semiconductor Corporation stockholders’ equity	7,782,600)	6,188,500)	4,585,400)	3,538,500)	3,301,700)
Solvency Ratio
Financial leverage¹	1.70	1.94	2.10	2.45	2.55
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted total assets²	12,614,400)	11,601,800)	9,259,700)	8,239,000)	8,117,700)
Adjusted total stockholders’ equity³	7,256,400)	5,868,800)	4,292,100)	3,192,700)	3,076,700)
Solvency Ratio
Adjusted financial leverage⁴	1.74	1.98	2.16	2.58	2.64

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ 2023 Calculation
Financial leverage = Total assets ÷ Total ON Semiconductor Corporation stockholders’ equity
= 13,215,200 ÷ 7,782,600 = 1.70

² Adjusted total assets. See details »

³ Adjusted total stockholders’ equity. See details »

⁴ 2023 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total stockholders’ equity
= 12,614,400 ÷ 7,256,400 = 1.74

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Solvency ratio	Description	The company
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	ON Semiconductor Corp. adjusted financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Reported
Selected Financial Data (US$ in thousands)
Net income attributable to ON Semiconductor Corporation	2,183,700)	1,902,200)	1,009,600)	234,200)	211,700)
Revenue	8,253,000)	8,326,200)	6,739,800)	5,255,000)	5,517,900)
Profitability Ratio
Net profit margin¹	26.46%	22.85%	14.98%	4.46%	3.84%
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted net income²	2,056,100)	1,935,700)	1,123,300)	124,600)	210,200)
Revenue	8,253,000)	8,326,200)	6,739,800)	5,255,000)	5,517,900)
Profitability Ratio
Adjusted net profit margin³	24.91%	23.25%	16.67%	2.37%	3.81%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ 2023 Calculation
Net profit margin = 100 × Net income attributable to ON Semiconductor Corporation ÷ Revenue
= 100 × 2,183,700 ÷ 8,253,000 = 26.46%

² Adjusted net income. See details »

³ 2023 Calculation
Adjusted net profit margin = 100 × Adjusted net income ÷ Revenue
= 100 × 2,056,100 ÷ 8,253,000 = 24.91%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	ON Semiconductor Corp. adjusted net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Reported
Selected Financial Data (US$ in thousands)
Net income attributable to ON Semiconductor Corporation	2,183,700)	1,902,200)	1,009,600)	234,200)	211,700)
Total ON Semiconductor Corporation stockholders’ equity	7,782,600)	6,188,500)	4,585,400)	3,538,500)	3,301,700)
Profitability Ratio
ROE¹	28.06%	30.74%	22.02%	6.62%	6.41%
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted net income²	2,056,100)	1,935,700)	1,123,300)	124,600)	210,200)
Adjusted total stockholders’ equity³	7,256,400)	5,868,800)	4,292,100)	3,192,700)	3,076,700)
Profitability Ratio
Adjusted ROE⁴	28.33%	32.98%	26.17%	3.90%	6.83%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ 2023 Calculation
ROE = 100 × Net income attributable to ON Semiconductor Corporation ÷ Total ON Semiconductor Corporation stockholders’ equity
= 100 × 2,183,700 ÷ 7,782,600 = 28.06%

² Adjusted net income. See details »

³ Adjusted total stockholders’ equity. See details »

⁴ 2023 Calculation
Adjusted ROE = 100 × Adjusted net income ÷ Adjusted total stockholders’ equity
= 100 × 2,056,100 ÷ 7,256,400 = 28.33%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted total equity.	ON Semiconductor Corp. adjusted ROE improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Reported
Selected Financial Data (US$ in thousands)
Net income attributable to ON Semiconductor Corporation	2,183,700)	1,902,200)	1,009,600)	234,200)	211,700)
Total assets	13,215,200)	11,978,500)	9,626,000)	8,668,000)	8,425,500)
Profitability Ratio
ROA¹	16.52%	15.88%	10.49%	2.70%	2.51%
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted net income²	2,056,100)	1,935,700)	1,123,300)	124,600)	210,200)
Adjusted total assets³	12,614,400)	11,601,800)	9,259,700)	8,239,000)	8,117,700)
Profitability Ratio
Adjusted ROA⁴	16.30%	16.68%	12.13%	1.51%	2.59%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ 2023 Calculation
ROA = 100 × Net income attributable to ON Semiconductor Corporation ÷ Total assets
= 100 × 2,183,700 ÷ 13,215,200 = 16.52%

² Adjusted net income. See details »

³ Adjusted total assets. See details »

⁴ 2023 Calculation
Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × 2,056,100 ÷ 12,614,400 = 16.30%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	ON Semiconductor Corp. adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

ON Semiconductor Corp. (NASDAQ:ON)

Adjusted Financial Ratios

Adjusted Financial Ratios (Summary)

ON Semiconductor Corp., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Adjusted Debt to Equity

Adjusted Debt to Capital

Adjusted Financial Leverage

Adjusted Net Profit Margin

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)