Enterprise Value (EV)
Current Enterprise Value (EV)
ON Semiconductor Corp., current enterprise value calculation
| Current share price (P) | $70.82 |
| No. shares of common stock outstanding | 430,231,889 |
| US$ in thousands | |
| Common equity (market value)1 | 30,469,022) |
| Add: Non-controlling interest (per books) | 18,000) |
| Total equity | 30,487,022) |
| Add: Current portion of financing lease liabilities (per books) | 800) |
| Add: Current portion of long-term debt (per books) | 794,000) |
| Add: Long-term debt, excluding current portion (per books) | 2,542,600) |
| Add: Long-term financing lease liabilities (per books) | 22,400) |
| Total equity and debt | 33,846,822) |
| Less: Cash and cash equivalents | 2,483,000) |
| Enterprise value (EV) | 31,363,822) |
Based on: 10-K (reporting date: 2023-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 70.82 × 430,231,889
Historical Enterprise Value (EV)
ON Semiconductor Corp., EV calculation
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 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of ON Semiconductor Corp. Annual Report.
3 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 77.59 × 427,328,652
An analysis of the financial valuation metrics from December 31, 2019, to December 31, 2023, reveals a period of aggressive expansion in valuation that peaked in 2022, followed by a marginal contraction in 2023. The synchronization across market value, total equity, and enterprise value suggests a period of significant growth in perceived corporate value and asset base.
- Market Equity Appreciation
- Common equity market value exhibited a strong upward trajectory, increasing from 8.59 billion USD in 2019 to a peak of 34.73 billion USD in 2022. This growth represents a substantial increase in market capitalization, which slightly corrected to 33.16 billion USD by the end of 2023.
- Enterprise Value (EV) Progression
- The Enterprise Value followed a nearly identical trend to the market capitalization, rising from 11.33 billion USD in 2019 to 35.06 billion USD in 2022. The consistent climb in EV indicates an increase in the total value of the business operations, including both debt and equity, peaking in late 2022 before settling at 34.05 billion USD in 2023.
- Capital Structure and Debt Trends
- Total equity and debt climbed from 12.23 billion USD in 2019 to 37.98 billion USD in 2022. The narrow margin between total equity and common equity market value suggests that equity is the primary driver of the company's total value, with debt levels remaining proportional to the overall growth of the entity.
- Valuation Stabilization
- A synchronized downturn is observable across all analyzed metrics between 2022 and 2023. The decline in Enterprise Value from 35.06 billion USD to 34.05 billion USD, coupled with the reduction in market equity, indicates a stabilization or slight correction in the company's valuation after several years of rapid escalation.
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