ON Semiconductor Corporation, operating under the onsemi™ brand, provides intelligent power and sensing solutions primarily for the automotive and industrial markets. The company's technologies enable electrification in the automotive industry, efficient fast-charging systems, and sustainable energy solutions. They also support advanced vehicle safety and automated driving systems through intelligent sensing technologies. The company is focused on capturing high-growth megatrends in its focused end-markets while optimizing its manufacturing footprint.

• Employees: Approximately 30,000 regular full-time employees and approximately 100 part-time and temporary employees (as of December 31, 2023)
• Geographic Footprint: 33 countries
• Headquarters: Scottsdale, AZ
• Founded: 1992
• Number of locations/facilities: Multiple front-end wafer fabrication facilities in the United States, the Czech Republic, Japan, South Korea, and Malaysia, and back-end assembly and test site facilities in Canada, China, Malaysia, the Philippines, Vietnam and the United States.
• Revenue: $8.253 billion (FY2023)
• Market Share: Not available
• Key Subsidiaries/Brands: onsemi™

• CEO: Hassane El-Khoury
• CFO: Thad Trent
• Board Chair: Alan Campbell
• Other Key Executives: Ross F. Jatou (Senior Vice President and General Manager, ISG), Simon Keeton (Executive Vice President and General Manager, PSG), Sudhir Gopalswamy (Senior Vice President and General Manager, ASG)

Hassane El-Khoury was appointed CEO in December 2020. Thad Trent was appointed CFO in February 2021. The other executives have been in their current roles since 2019 or 2020.

• Annual Revenue: $8.253 billion (FY2023)
• Net Income: $2.1837 billion (FY2023)
• Market Cap: $40.7 billion (as of June 30, 2023)
• Total Assets: $13.2152 billion (as of December 31, 2023)
• Key Financial Highlights: Revenue decreased by 0.9% year-over-year, net income increased due to goodwill and intangible asset impairment charges in 2022 that did not reoccur in 2023, gross margin decreased to 47.1% in 2023 from 49.0% in 2022.

onsemi offers a wide range of semiconductor products and technologies:

• Analog Products: Includes a variety of products for power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage regulation.
• Discrete Products: Includes MOSFETs and other discrete components.
• Power Modules: Includes integrated power solutions.
• Isolation Products: Includes products for isolation applications.
• Memory Products: Includes various memory solutions.
• Gate Driver Products: Includes gate drivers for various applications.
• Standard Logic Products: Includes standard logic integrated circuits.
• ASIC Products: Includes application-specific integrated circuits.
• ECL Products: Includes emitter-coupled logic products.
• Foundry Products/Services: Includes manufacturing services for other companies.
• LSI Products: Includes large-scale integration products.
• Actuator Drivers: Includes drivers for actuators.
• CMOS Image Sensors: Includes CMOS image sensors for various applications.
• Image Signal Processors: Includes processors for image signals.
• Single Photon Detectors: Includes single photon detectors.

The company operates through three main segments:

• Power Solutions Group (PSG): 54% of revenue (FY2023). Focuses on power switching, conversion, and signal conditioning products.
• Advanced Solutions Group (ASG): 30% of revenue (FY2023). Focuses on analog, mixed-signal, and power management ICs and sensor interface devices.
• Intelligent Sensing Group (ISG): 16% of revenue (FY2023). Focuses on CMOS image sensors, image signal processors, and single photon detectors.

onsemi's primary focus is on profitable revenue and operating income growth by targeting high-growth areas in the automotive and industrial sectors. The company is focused on designing products in highly-differentiated markets, optimizing its manufacturing footprint, and achieving efficiencies in operating and capital expenditures. Key strategic initiatives include ramping up manufacturing at the EFK location and expanding capacity for SiC-based solutions. The company is also realigning its operating models to streamline operations and consolidate resources.

• Key strategic initiatives: Focus on high-growth megatrends, optimizing manufacturing footprint, and achieving operational efficiencies.
• Growth drivers: Electrification of the automotive industry, sustainable energy solutions, and automation in factories and buildings.
• Investment priorities: Research and development, high-margin products, and SiC manufacturing capabilities.

onsemi operates in the highly competitive semiconductor industry, facing competition from major international semiconductor companies and smaller niche-focused companies. The company's competitive strengths include leading-edge fabrication technologies, micro and module packaging expertise, and a broad product line and IP portfolio. Key trends impacting the business include the increasing demand for higher power efficiency and density, greater functionality, and faster data transmission rates. The company's primary competitors include Infineon Technologies AG, STMicroelectronics N.V., Wolfspeed Inc., Texas Instruments Incorporated, and Nexperia BV.

• Market Position: Not available
• Key Competitors: Infineon, STMicroelectronics, Wolfspeed, Texas Instruments, and Nexperia.
• Industry Trends: Electrification, automation, and demand for higher efficiency and functionality.

• Manufacturing and Operational Risks: Dependence on third-party manufacturers and suppliers, potential disruptions in the supply chain, and risks associated with operating multiple facilities.
• Competitive Risks: Intense competition from major semiconductor companies, consolidation in the industry, and the potential for new competitors to emerge.
• Financial Risks: Risks related to indebtedness, including the ability to meet debt obligations, and risks related to interest rate fluctuations.
• Technology and Product Development Risks: The risk of not being able to keep pace with rapidly changing technologies, the risk of not being able to develop new products that satisfy customer demands and the risk of not being able to protect intellectual property.
• Regulatory and Compliance Risks: Risks associated with environmental and health and safety laws, import-export control regulations, and anti-corruption laws.