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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Vivek Arya | Bank of America | 13 (15%) |
| Joshua Buchalter | TD Cowen | 12 (17%) |
| Gary Mobley | StoneX | 12 (0%) |
| Ross Seymore | Deutsche Bank | 11 (18%) |
| Vijay Rakesh | Mizuho Securities | 11 (0%) |
| Chris Rolland | Susquehanna | 11 (0%) |
| Quinn Bolton | Needham | 10 (10%) |
| Blayne Curtis | Jefferies | 9 (11%) |
| Chris Danely | Citigroup | 8 (0%) |
| Jim Schneider | Goldman Sachs | 7 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Bank of America | 1 | 13 (15%) |
| TD Cowen | 1 | 12 (17%) |
| StoneX | 1 | 12 (0%) |
| Susquehanna | 1 |
| 11 (0%) |
| Mizuho Securities | 1 | 11 (0%) |
| Jefferies | 2 | 11 (9%) |
| Deutsche Bank | 1 | 11 (18%) |
| Needham | 1 | 10 (10%) |
ON Semiconductor delivered its first year-over-year revenue growth in seven quarters, with Q1 revenue of $1.51 billion up 5% and non-GAAP EPS of $0.64, up 93%. AI data center revenue grew over 30% quarter-over-quarter with expectations to double year-over-year in 2026. Gross margin expanded for the third consecutive quarter to 38.5%. Treo revenue grew 2.5x sequentially with broadening design wins, and energy storage and microgrid business accelerated with 40%+ growth expected. China automotive revenue grew despite a 6% decline in the passenger vehicle market.
Demand | Margin | Competitive Dynamics | Revenue Growth | Product Launch | Cloud & AI | Inventory | Capex Investment | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 9 | 7 | 6 | 6 | 4 | 1 | 2 | 2 |
| 2025Q1 | 8 | 6 | 6 | 3 | 3 | 4 | 2 | |
| 2025Q2 | 7 | 5 | 8 | 5 | 5 | 3 | 3 | 2 |
| 2025Q3 | 10 | 3 | 4 | 7 | 6 | 6 | 4 | 2 |
| 2025Q4 | 6 | 8 | 5 | 4 | 5 | 5 | 2 | 3 |
| 2026Q1 | 5 | 4 | 4 | 5 | 5 | 5 | 3 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 9 | 8 | 7 | 10 | 6 | 5 |
| Margin | 7 | 6 | 5 | 3 | 8 | 4 |
| Competitive Dynamics | 6 | 6 | 8 | 4 | 5 | 4 |
| Revenue Growth | 6 | 3 | 5 | 7 | 4 | 5 |
| Product Launch | 4 | 3 | 5 | 6 | 5 | 5 |
| Cloud & AI | 1 | 3 | 6 | 5 | 5 | |
| Inventory | 2 | 4 | 3 | 4 | 2 | 3 |
| Capex Investment | 2 | 2 | 2 | 2 | 3 | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $1.72B | -14.6% | $0.88 | -31.3% | 45.2% | 23.7% | 22.1% | $435M |
| FY2025 Q1 | $1.45B | -22.4% | $-1.15 | -210.6% | 20.3% | -39.7% | -33.6% | $455M |
| FY2025 Q2 | $1.47B | -15.4% | $0.41 | -47.4% | 37.6% | 13.2% | 11.6% | $106M |
| FY2025 Q3 | $1.55B | -12.0% | $0.63 | -32.3% | 37.9% | 17.0% | 16.4% | $645M |
| FY2025 Q4 | $1.53B | -11.2% | $0.45 | -48.9% | 34.9% | 16.5% | 11.9% | $485M |
| FY2026 Q1 | $1.51B | +4.7% | $-0.08 | +93.0% | 38.5% | -3.5% | -2.2% | $217M |
| FY2026 Q2 | $1.60B | +9.2% | $0.56 | +36.6% | 38.4% | 16.1% | 14.1% | $482M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What ON and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“We talked about the Aurasemi acquisition, and we did the JFET silicon carbide acquisition.”
onsemi cited its Aurasemi acquisition as a building block of the power-technology portfolio it is assembling for AI data center revenue.
“Our announcement with Sungrow Electric highlights our hybrid power integrated modules combining EliteSiC technology and FS7 IGBTs”
onsemi partnered with Sungrow Electric on hybrid SiC power modules for Sungrow's utility-scale solar inverters and liquid-cooled energy storage platforms.
“Recent expanded collaborations with Geely and NIO highlight our role in enabling these customers to scale globally with their next-generation 900-volt platforms.”
onsemi expanded its collaboration with NIO on next-generation 900-volt EV platforms, supporting NIO's global scale-up with onsemi power devices.
“Recent expanded collaborations with Geely and NIO highlight our role in enabling these customers to scale globally with their next-generation 900-volt platforms.”
onsemi expanded its collaboration with Geely, embedding its silicon carbide in Geely's next-generation 900-volt EV platforms as the automaker scales globally.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
ON ON Semiconductor | 6 | +4.7% | |
| ADI Analog Devices | 9 | +30.4% | |
| ALAB Astera Labs, Inc. Common Stock | 9 | +93.4% | |
| AMAT Applied Materials | 5 | -2.1% | |
| AMD Advanced Micro Devices, Inc. | 9 | +37.9% | |
| ARM Arm Holdings | 7 | +20.1% | |
| ASML ASML Holding | 9 | +13.3% | |
| AVGO Broadcom Inc. | 9 | +29.5% | |
| INTC Intel Corporation | 6 | +7.2% | |
| KLAC KLA Corporation | 7 | +11.5% | |
| LRCX Lam Research | 9 | +23.8% | |
| MCHP Microchip Technology | 9 | +35.1% | |
| MPWR Monolithic Power Systems | 10 | +26.1% | |
| MRVL Marvell Technology | 10 | +22.1% | |
| MU Micron Technology, Inc. | 9 | +196.3% | |
| NVDA NVIDIA Corporation | 10 | +73.2% | |
| NXPI NXP Semiconductors | 7 | +12.2% | |
| Q Qnity Electronics, Inc. | 10 | +17.6% | |
| QCOM Qualcomm | 3 | -3.5% | |
| SWKS Skyworks Solutions | 3 | -1.0% | |
| TER Teradyne | 9 | +87.0% | |
| TXN Texas Instruments | 9 | +18.6% |