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On Semiconductor 8-K Report, Financial Results (Feb 9, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed February 9, 2026
Period End
February 9, 2026
Security
ON
In the record · 2016–202610-K1110-Q338-K162

ON filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 162 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Feb ’19Feb ’19
  2. Leadership change8-K · Mar ’21Mar ’21
  3. Material agreement8-K · Mar ’23Mar ’23
  4. Impairment8-K · Mar ’25Mar ’25

01—Abstract

Summary

Summary of the 8-K filed February 9, 2026. Cited figures are marked; the original filing is the authoritative source.

onsemi (Nasdaq: ON) reported fourth-quarter and full-year 2025 results on February 9, 2026.

Fourth-quarter revenue was $1,530.1 milliona, down from $1,550.9 million in Q3 2025 and $1,722.5 million in Q4 2024. GAAP gross margin was 36.0% and non-GAAP gross margin was 38.2%. GAAP diluted EPS was $0.45 and non-GAAP diluted EPS was $0.64.

For the full year 2025, revenue was $5,995.4 millionb, down from $7,082.3 million in 2024, and GAAP net income attributable to the company was $121.0 million, compared with $1,572.8 million in 2024. Full-year restructuring, asset impairments and other charges were $666.9 million, a major driver of the sharp GAAP decline. Cash generation remained solid.

Full-year 2025 cash from operations was $1,759.8 millionc and free cash flow was $1,418.6 million, which the company described as a record free cash flow margin of 24%. Management stated that it returned 100% of 2025 free cash flow to shareholders through share repurchases, which totaled $1,377.6 million for the year. The company also announced a new share repurchase program of up to $6 billion over three years.

Total debt declined in the quarter, with long-term debt falling to $2,980.5 milliond from $3,353.1 million at the end of Q3, after a $375.0 million debt repayment. For the first quarter of 2026, the company guided to revenue of $1,435 million to $1,535 million, a non-GAAP gross margin of 37.5% to 39.5%, and non-GAAP diluted EPS of $0.56 to $0.66. Management said it saw increasing signs of stabilization in its key markets and expects its cost actions to create greater operating leverage.

02—Key points

Key Highlights

  1. Q4 2025 revenue of $1,530.1 million, versus $1,550.9 million in Q3 2025 and $1,722.5 million in Q4 2024; GAAP operating margin was 13.1% and non-GAAP operating margin was 19.8%.
  2. Full-year 2025 revenue of $5,995.4 million versus $7,082.3 million in 2024; GAAP net income attributable to the company was $121.0 million, versus $1,572.8 million in 2024.
  3. Full-year 2025 GAAP operating margin was 1.4%, reflecting $666.9 million of restructuring, asset impairments and other charges, while non-GAAP operating margin was 18.6%.
  4. 2025 free cash flow of $1,418.6 million, with the company stating a record free cash flow margin of 24%; the company returned 100% of 2025 free cash flow through share repurchases of $1,377.6 million.
  5. New share repurchase program authorized for up to $6 billion over the next three years.
  6. Q1 2026 outlook calls for revenue of $1,435 million to $1,535 million and non-GAAP diluted EPS of $0.56 to $0.66.
  7. Strategic announcements included vertical gallium nitride (vGaN) power semiconductors, an MoU with Innoscience on GaN production, and a collaboration with GlobalFoundries on 650V GaN devices.

03—Questions

Frequently Asked Questions

  1. Why did GAAP net income fall so sharply in 2025?

    GAAP net income attributable to the company was $121.0 million in 2025, compared with $1,572.8 million in 2024. The filing attributes much of the decline to restructuring, asset impairments and other charges of $666.9 million in 2025, which also drove GAAP operating margin down to 1.4% from 25.0%. Non-GAAP net income was $966.4 million after excluding these and other special items.

  2. How much cash did the company generate and return to shareholders?

    Net cash provided by operating activities was $1,759.8 million in 2025, and free cash flow was $1,418.6 million. The company repurchased $1,377.6 million of common stock during the year and stated that it returned 100% of its 2025 free cash flow to shareholders through share repurchases.

  3. What is the company guiding for the first quarter of 2026?

    The company projects Q1 2026 revenue of $1,435 million to $1,535 million, a GAAP gross margin of 37.4% to 39.4% and a non-GAAP gross margin of 37.5% to 39.5%. GAAP diluted EPS is expected at $0.28 to $0.38, and non-GAAP diluted EPS at $0.56 to $0.66. Operating expenses are projected at $407 million to $422 million on a GAAP basis, including special items of $122 million.

  4. What new share repurchase authorization did the company announce?

    The company announced a new share repurchase program of up to $6 billion over the next three years.

  5. How did revenue trend across business segments?

    In Q4 2025 versus Q4 2024, PSG revenue was $724.2 million (down 11%), AMG was $556.3 million (down 9%) and ISG was $249.6 million (down 17%). For full-year 2025, PSG was $2,805.1 million (down 16%), AMG was $2,261.9 million (down 13%) and ISG was $928.4 million (down 17%). Sequentially, ISG rose 9% in Q4 while PSG and AMG declined 2% and 5%, respectively.

04—Continue

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