Stock Analysis on Net
Stock Analysis on Net

ON Semiconductor Corp. (NASDAQ:ON)

This company has been moved to the archive! The financial data has not been updated since April 29, 2024.

DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin 
Quarterly Data

Microsoft Excel

Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.

Two-Component Disaggregation of ROE

ON Semiconductor Corp., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Mar 29, 2024 26.77% = 16.13% × 1.66
Dec 31, 2023 28.06% = 16.52% × 1.70
Sep 29, 2023 29.73% = 16.76% × 1.77
Jun 30, 2023 27.98% = 15.31% × 1.83
Mar 31, 2023 28.44% = 14.94% × 1.90
Dec 31, 2022 30.74% = 15.88% × 1.94
Sep 30, 2022 30.48% = 15.53% × 1.96
Jul 1, 2022 31.94% = 15.96% × 2.00
Apr 1, 2022 29.01% = 14.20% × 2.04
Dec 31, 2021 22.02% = 10.49% × 2.10
Oct 1, 2021 16.31% = 7.52% × 2.17
Jul 2, 2021 13.84% = 6.09% × 2.27
Apr 2, 2021 9.32% = 3.92% × 2.38
Dec 31, 2020 6.62% = 2.70% × 2.45
Oct 2, 2020 5.89% = 2.18% × 2.70
Jul 3, 2020 -0.61% = -0.21% × 2.94
Apr 3, 2020 2.60% = 0.89% × 2.93
Dec 31, 2019 6.41% = 2.51% × 2.55
Sep 27, 2019 — = — × 2.65
Jun 28, 2019 — = — × 2.60
Mar 29, 2019 — = — × 2.37

Based on: 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).

The primary reason for the decrease in return on equity ratio (ROE) over Q1 2024 is the decrease in profitability measured by return on assets ratio (ROA).

Three-Component Disaggregation of ROE

ON Semiconductor Corp., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Mar 29, 2024 26.77% = 26.67% × 0.60 × 1.66
Dec 31, 2023 28.06% = 26.46% × 0.62 × 1.70
Sep 29, 2023 29.73% = 26.69% × 0.63 × 1.77
Jun 30, 2023 27.98% = 23.41% × 0.65 × 1.83
Mar 31, 2023 28.44% = 21.98% × 0.68 × 1.90
Dec 31, 2022 30.74% = 22.85% × 0.70 × 1.94
Sep 30, 2022 30.48% = 21.36% × 0.73 × 1.96
Jul 1, 2022 31.94% = 22.60% × 0.71 × 2.00
Apr 1, 2022 29.01% = 20.13% × 0.71 × 2.04
Dec 31, 2021 22.02% = 14.98% × 0.70 × 2.10
Oct 1, 2021 16.31% = 10.61% × 0.71 × 2.17
Jul 2, 2021 13.84% = 8.85% × 0.69 × 2.27
Apr 2, 2021 9.32% = 6.19% × 0.63 × 2.38
Dec 31, 2020 6.62% = 4.46% × 0.61 × 2.45
Oct 2, 2020 5.89% = 3.87% × 0.56 × 2.70
Jul 3, 2020 -0.61% = -0.37% × 0.55 × 2.94
Apr 3, 2020 2.60% = 1.55% × 0.57 × 2.93
Dec 31, 2019 6.41% = 3.84% × 0.65 × 2.55
Sep 27, 2019 — = — × — × 2.65
Jun 28, 2019 — = — × — × 2.60
Mar 29, 2019 — = — × — × 2.37

Based on: 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).

The primary reason for the decrease in return on equity ratio (ROE) over Q1 2024 is the decrease in efficiency measured by asset turnover ratio.

Five-Component Disaggregation of ROE

ON Semiconductor Corp., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Mar 29, 2024 26.77% = 0.86 × 0.98 × 31.76% × 0.60 × 1.66
Dec 31, 2023 28.06% = 0.86 × 0.97 × 31.61% × 0.62 × 1.70
Sep 29, 2023 29.73% = 0.83 × 0.97 × 33.26% × 0.63 × 1.77
Jun 30, 2023 27.98% = 0.82 × 0.96 × 29.83% × 0.65 × 1.83
Mar 31, 2023 28.44% = 0.80 × 0.96 × 28.51% × 0.68 × 1.90
Dec 31, 2022 30.74% = 0.81 × 0.96 × 29.49% × 0.70 × 1.94
Sep 30, 2022 30.48% = 0.84 × 0.95 × 26.80% × 0.73 × 1.96
Jul 1, 2022 31.94% = 0.85 × 0.95 × 28.03% × 0.71 × 2.00
Apr 1, 2022 29.01% = 0.86 × 0.93 × 25.06% × 0.71 × 2.04
Dec 31, 2021 22.02% = 0.87 × 0.90 × 19.09% × 0.70 × 2.10
Oct 1, 2021 16.31% = 0.83 × 0.85 × 14.99% × 0.71 × 2.17
Jul 2, 2021 13.84% = 1.01 × 0.77 × 11.27% × 0.69 × 2.27
Apr 2, 2021 9.32% = 1.15 × 0.65 × 8.30% × 0.63 × 2.38
Dec 31, 2020 6.62% = 1.34 × 0.51 × 6.52% × 0.61 × 2.45
Oct 2, 2020 5.89% = 1.47 × 0.45 × 5.87% × 0.56 × 2.70
Jul 3, 2020 -0.61% = — × -0.18 × 2.68% × 0.55 × 2.94
Apr 3, 2020 2.60% = 0.84 × 0.39 × 4.79% × 0.57 × 2.93
Dec 31, 2019 6.41% = 0.77 × 0.65 × 7.66% × 0.65 × 2.55
Sep 27, 2019 — = — × — × — × — × 2.65
Jun 28, 2019 — = — × — × — × — × 2.60
Mar 29, 2019 — = — × — × — × — × 2.37

Based on: 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).

The primary reason for the decrease in return on equity ratio (ROE) over Q1 2024 is the decrease in efficiency measured by asset turnover ratio.

Two-Component Disaggregation of ROA

ON Semiconductor Corp., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Mar 29, 2024 16.13% = 26.67% × 0.60
Dec 31, 2023 16.52% = 26.46% × 0.62
Sep 29, 2023 16.76% = 26.69% × 0.63
Jun 30, 2023 15.31% = 23.41% × 0.65
Mar 31, 2023 14.94% = 21.98% × 0.68
Dec 31, 2022 15.88% = 22.85% × 0.70
Sep 30, 2022 15.53% = 21.36% × 0.73
Jul 1, 2022 15.96% = 22.60% × 0.71
Apr 1, 2022 14.20% = 20.13% × 0.71
Dec 31, 2021 10.49% = 14.98% × 0.70
Oct 1, 2021 7.52% = 10.61% × 0.71
Jul 2, 2021 6.09% = 8.85% × 0.69
Apr 2, 2021 3.92% = 6.19% × 0.63
Dec 31, 2020 2.70% = 4.46% × 0.61
Oct 2, 2020 2.18% = 3.87% × 0.56
Jul 3, 2020 -0.21% = -0.37% × 0.55
Apr 3, 2020 0.89% = 1.55% × 0.57
Dec 31, 2019 2.51% = 3.84% × 0.65
Sep 27, 2019 — = — × —
Jun 28, 2019 — = — × —
Mar 29, 2019 — = — × —

Based on: 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).

The primary reason for the decrease in return on assets ratio (ROA) over Q1 2024 is the decrease in asset turnover ratio.

Four-Component Disaggregation of ROA

ON Semiconductor Corp., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Mar 29, 2024 16.13% = 0.86 × 0.98 × 31.76% × 0.60
Dec 31, 2023 16.52% = 0.86 × 0.97 × 31.61% × 0.62
Sep 29, 2023 16.76% = 0.83 × 0.97 × 33.26% × 0.63
Jun 30, 2023 15.31% = 0.82 × 0.96 × 29.83% × 0.65
Mar 31, 2023 14.94% = 0.80 × 0.96 × 28.51% × 0.68
Dec 31, 2022 15.88% = 0.81 × 0.96 × 29.49% × 0.70
Sep 30, 2022 15.53% = 0.84 × 0.95 × 26.80% × 0.73
Jul 1, 2022 15.96% = 0.85 × 0.95 × 28.03% × 0.71
Apr 1, 2022 14.20% = 0.86 × 0.93 × 25.06% × 0.71
Dec 31, 2021 10.49% = 0.87 × 0.90 × 19.09% × 0.70
Oct 1, 2021 7.52% = 0.83 × 0.85 × 14.99% × 0.71
Jul 2, 2021 6.09% = 1.01 × 0.77 × 11.27% × 0.69
Apr 2, 2021 3.92% = 1.15 × 0.65 × 8.30% × 0.63
Dec 31, 2020 2.70% = 1.34 × 0.51 × 6.52% × 0.61
Oct 2, 2020 2.18% = 1.47 × 0.45 × 5.87% × 0.56
Jul 3, 2020 -0.21% = — × -0.18 × 2.68% × 0.55
Apr 3, 2020 0.89% = 0.84 × 0.39 × 4.79% × 0.57
Dec 31, 2019 2.51% = 0.77 × 0.65 × 7.66% × 0.65
Sep 27, 2019 — = — × — × — × —
Jun 28, 2019 — = — × — × — × —
Mar 29, 2019 — = — × — × — × —

Based on: 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).

The primary reason for the decrease in return on assets ratio (ROA) over Q1 2024 is the decrease in efficiency measured by asset turnover ratio.

Disaggregation of Net Profit Margin

ON Semiconductor Corp., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Mar 29, 2024 26.67% = 0.86 × 0.98 × 31.76%
Dec 31, 2023 26.46% = 0.86 × 0.97 × 31.61%
Sep 29, 2023 26.69% = 0.83 × 0.97 × 33.26%
Jun 30, 2023 23.41% = 0.82 × 0.96 × 29.83%
Mar 31, 2023 21.98% = 0.80 × 0.96 × 28.51%
Dec 31, 2022 22.85% = 0.81 × 0.96 × 29.49%
Sep 30, 2022 21.36% = 0.84 × 0.95 × 26.80%
Jul 1, 2022 22.60% = 0.85 × 0.95 × 28.03%
Apr 1, 2022 20.13% = 0.86 × 0.93 × 25.06%
Dec 31, 2021 14.98% = 0.87 × 0.90 × 19.09%
Oct 1, 2021 10.61% = 0.83 × 0.85 × 14.99%
Jul 2, 2021 8.85% = 1.01 × 0.77 × 11.27%
Apr 2, 2021 6.19% = 1.15 × 0.65 × 8.30%
Dec 31, 2020 4.46% = 1.34 × 0.51 × 6.52%
Oct 2, 2020 3.87% = 1.47 × 0.45 × 5.87%
Jul 3, 2020 -0.37% = — × -0.18 × 2.68%
Apr 3, 2020 1.55% = 0.84 × 0.39 × 4.79%
Dec 31, 2019 3.84% = 0.77 × 0.65 × 7.66%
Sep 27, 2019 — = — × — × —
Jun 28, 2019 — = — × — × —
Mar 29, 2019 — = — × — × —

Based on: 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).

The primary reason for the increase in net profit margin ratio over Q1 2024 is the increase in operating profitability measured by EBIT margin ratio.