2 models fit ON Semiconductor Corporation Common Stock and they agree: 2 of 2 land within 15% of the average. The price is above every model.
Two or more of our models back this value.
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Valued as a cyclical company: P/E comparison, EV/EBITDA comparison, Discounted cash flow, and Graham number.
ACCE opinionON Semiconductor Corporation Common Stock (ON)
Fair value (2 models)
$52.08
ACCE price target
$77.00
Rating
Overvalued
Horizon
12 months
Fair value published on 24 Oct 2026, 16:06 CEST; previously $58.99 since 12 Oct 2026, 00:00 CEST.
ACCE price target published on 16 Oct 2026, 00:00 CEST; previously $102 since 19 Apr 2026, 00:00 CEST.
Rating published on 24 Oct 2026, 16:06 CEST.
Price used: $72.25 at the close on 23 Oct 2026, 22:00 CEST.
Models: P/E comparison and EV/EBITDA comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
38.7% above
-27.9% to fair value
ACCE score
59
out of 100
Analysts
48% buy
31 covering
P/E
49.5x
forward 16.5x
1-year return
+39.5%
Dividend yield
0.00%
ON Semiconductor Corporation Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
ON Semiconductor designs and makes power semiconductors, including silicon carbide (SiC) MOSFETs and image sensors used in electric vehicles, industrial automation and data centre power supplies. Its advantage is manufacturing scale in SiC, a segment where few rivals can supply automotive-grade parts at volume, and that position supports a 42.8% gross margin and a 19.5% operating margin. Revenue is growing 9.2%, and the forward P/E of 16.5 sits far below the trailing 49.8, which says the market expects earnings to recover from a cyclical trough. The gap between trailing and forward multiples is the main thing to test: it depends on whether the EV and industrial demand that drove recent orders holds, and an 8.3% ROE shows the returns have not yet caught up with the margin profile. The name merits a deeper look if the portfolio team wants exposure to the SiC and power-electronics cycle and is comfortable with the earnings recovery being back-end loaded.