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Held by 797 of 5,944 reporting institutions (98th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $68.30 today, the market must believe free cash flow compounds 11.9%/yr for a decade (off $1.0B normalized FCF).
The market's 11.9% is more conservative than its 9-yr track record.
2-stage DCF · 0.40B shares · net debt $833M
mean 60.0% · volatility σ 108% · implied rate exceeded in 6/9 yrs
Central path = implied 11.9%/yr growth; shaded band = ±1σ (108%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage rising year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $1.4B buybacks = $1.4B returned on $1.4B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: 1%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $2.1B covers the $0 due within a year 2147600000.0× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~2.4% on $3.0B of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.00B 100.0% | $7.08B 100.0% | $8.25B 100.0% | $8.33B 100.0% | $6.74B 100.0% | $5.25B 100.0% | $5.52B 100.0% | $5.88B 100.0% | $5.54B 100.0% | $3.91B 100.0% |
| Cost of Revenue | $4.01B 66.9% | $3.87B 54.6% | $4.37B 52.9% | $4.25B 51.0% | $4.03B 59.7% | $3.54B 67.3% | $3.54B 64.2% | $3.64B 61.9% | $3.51B 63.3% | $2.61B 66.7% |
| Gross Profit | $1.98B 33.1% | $3.22B 45.4% | $3.88B 47.1% | $4.08B 49.0% | $2.71B 40.3% | $1.72B 32.7% | $1.97B 35.8% | $2.24B 38.1% | $2.04B 36.7% | $1.30B 33.3% |
| Selling, General & Admin | $348.9M 5.8% | $376.3M 5.3% | $362.4M 4.4% | $343.2M 4.1% | $304.8M 4.5% | $258.7M 4.9% | $284.0M 5.1% | $293.3M 5.0% | $285.0M 5.1% | $230.0M 5.9% |
| Total Operating Expenses | $1.90B 31.7% | $1.45B 20.5% | $1.34B 16.3% | $1.72B 20.6% | $1.43B 21.2% | $1.37B 26.0% | $1.54B 27.9% | $1.39B 23.7% | $1.35B 24.4% | $1.05B 27.0% |
| Operating Income | $84.2M 1.4% | $1.77B 25.0% | $2.54B 30.8% | $2.36B 28.3% | $1.29B 19.1% | $348.7M 6.6% | $432.7M 7.8% | $847.2M 14.4% | $681.6M 12.3% | $246.8M 6.3% |
| Interest Expense | $70.9M 1.2% | $62.3M 0.9% | $74.8M 0.9% | $94.9M 1.1% | $130.4M 1.9% | $168.4M 3.2% | $148.3M 2.7% | $128.2M 2.2% | $141.2M 2.5% | $145.3M 3.7% |
| Interest & Investment Income | $95.1M 1.6% | $111.4M 1.6% | $93.1M 1.1% | $15.5M 0.2% | $1.4M 0.0% | $4.9M 0.1% | $10.2M 0.2% | $6.1M 0.1% | $3.0M 0.1% | $4.5M 0.1% |
| Other Income (Expense), net | $47.1M 0.8% | $69.7M 1.0% | -$2.9M -0.0% | $2.2M 0.0% | -$129.8M -1.9% | -$172.1M -3.3% | -$156.1M -2.8% | -$92.2M -1.6% | -$134.1M -2.4% | -$66.2M -1.7% |
| Pretax Income | $131.3M 2.2% | $1.84B 25.9% | $2.54B 30.7% | $2.36B 28.4% | $1.16B 17.2% | $176.6M 3.4% | $276.6M 5.0% | $755.0M 12.8% | $547.5M 9.9% | $180.6M 4.6% |
| Income Tax Expense | $7.7M 0.1% | $262.8M 3.7% | $350.2M 4.2% | $458.4M 5.5% | $146.6M 2.2% | -$59.8M -1.1% | $62.7M 1.1% | $125.1M 2.1% | -$265.5M -4.8% | -$3.9M -0.1% |
| Net Income | $121.0M 2.0% | $1.57B 22.2% | $2.18B 26.5% | $1.90B 22.8% | $1.01B 15.0% | $234.2M 4.5% | $211.7M 3.8% | $627.4M 10.7% | $810.7M 14.6% | $182.1M 4.7% |
| Per Share | ||||||||||
| EPS (Basic) | $0.29 | $3.68 | $5.07 | $4.39 | $2.37 | $0.57 | $0.52 | $1.48 | $1.92 | $0.44 |
| EPS (Diluted) | $0.29 | $3.63 | $4.89 | $4.25 | $2.27 | $0.56 | $0.51 | $1.44 | $1.89 | $0.43 |
| Weighted Avg Shares (Basic) | 411.0M | 427.4M | 430.7M | 433.2M | 425.7M | 410.7M | 410.9M | 423.8M | 421.9M | 415.2M |
| Weighted Avg Shares (Diluted) | 411.8M | 432.7M | 446.8M | 448.2M | 443.8M | 418.8M | 416.0M | 435.9M | 428.3M | 420.0M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
EOD close · as of 2026-09-17
Where each multiple sits in its own 14-yr range · 93th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 6.2× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 61.9 | 64.2 | 67.3 | 59.7 | 51.0 | 52.9 | 54.6 | 66.9 |
| Gross Profit | 38.1 | 35.8 | 32.7 | 40.3 | 49.0 | 47.1 | 45.4 | 33.1 |
| SG&A | 5.0 | 5.1 | 4.9 | 4.5 | 4.1 | 4.4 | 5.3 | 5.8 |
| Operating Income | 14.4 | 7.8 | 6.6 | 19.1 | 28.3 | 30.8 | 25.0 | 1.4 |
| Income Tax | 2.1 | 1.1 | -1.1 | 2.2 | 5.5 | 4.2 | 3.7 | 0.1 |
| Net Income | 10.7 | 3.8 | 4.5 | 15.0 | 22.8 | 26.5 | 22.2 | 2.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on ON: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 743 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TSM | $10.83T | — | — | — | — | — | — | — | — | — | 3,121 |
| NVDA | $5.20T | 43.6× | 39.0× | 24.1× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | 0.1× | 5,582 |
| AAPL | $4.91T | 44.6× | 34.3× | 11.8× | 6.4% | 46.9% | 26.9% | 152% | 68.1% | 0.6× | 5,858 |
| MSFT | $3.64T | 27.3× | 19.3× | 11.0× | 17.8% | 67.9% | 40.3% | 30.2% | 27.7% | 0.2× | 5,944 |
| AVGO | $1.61T | 71.2× | 63.6× | 25.2× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 2.5× | 4,442 |
| MU | $1.04T | 122.1× | 57.5× | 27.8× | 48.9% | 39.8% | 22.8% | 15.8% | 12.9% | 0.7× | 2,894 |
| AMD | $835.4B | 193.4× | 197.6× | 24.1× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | 0.8× | 3,059 |
| INTC | $504.6B | — | 62.9× | 9.6× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 5.5× | 2,495 |
| CSCO | $426.7B | 42.3× | 35.8× | 7.5× | 5.3% | 64.9% | 18.0% | 21.7% | 13.6% | 2.3× | 3,560 |
| PLTR | $416.9B | 276.7× | 288.5× | 93.2× | 56.2% | 82.4% | 36.3% | 22.0% | 22.0% | — | 2,883 |
| DELL | $367.3B | 64.9× | 34.6× | 3.2× | 18.8% | 20.0% | 5.2% | -240% | 20.4% | 2.8× | 1,564 |
| LRCX | $341.6B | 64.9× | 54.5× | 18.5× | 23.7% | 48.7% | 29.1% | 54.3% | 37.4% | 0.7× | 2,500 |
| AMAT | $329.4B | 48.0× | 37.9× | 11.6× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | 0.8× | 2,826 |
| RPAY | $325.1B | — | — | 1051.3× | -1.2% | 75.0% | -83.0% | -53.0% | -28.2% | -1.7× | 142 |
| UMC | $283.0B | — | — | — | — | — | — | — | — | — | 302 |
| SAP | $261.9B | — | — | — | — | — | — | — | — | — | 794 |
| ARM | $259.6B | 287.0× | 223.6× | 52.8× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | — | 730 |
| PANW | $250.9B | 234.8× | 156.8× | 27.2× | 14.9% | 73.4% | 12.3% | 14.5% | 14.5% | — | 2,374 |
| ANET | $248.2B | 71.8× | 62.7× | 27.6× | 28.6% | 64.1% | 39.0% | 28.4% | 28.4% | — | 1,930 |
| TXN | $236.9B | 47.8× | 31.2× | 13.4× | 13.0% | 57.0% | 28.3% | 30.7% | 16.5% | 1.8× | 2,345 |
| CRM | $232.8B | 32.1× | 25.2× | 5.6× | 9.6% | 77.7% | 18.0% | 12.6% | 10.1% | 1.5× | 2,547 |
| IBM | $222.5B | 21.3× | — | 3.3× | 7.6% | 58.2% | 15.7% | 32.4% | 11.3% | — | 3,351 |
| SNDK | $221.9B | — | — | 30.2× | 10.4% | 30.1% | -22.3% | -17.8% | -14.8% | -1.5× | 1,127 |
| QCOM | $198.5B | 36.9× | 14.9× | 4.5× | 13.7% | 55.4% | 12.5% | 26.1% | 15.4% | 1.1× | 2,611 |
| MRVL | $194.6B | 74.8× | 127.2× | 23.8× | 42.1% | 51.0% | 32.6% | 18.7% | 14.2% | 2.9× | 1,477 |
| ON | $26.4B | 229.7× | 35.4× | 4.4× | -15.3% | 33.1% | 2.0% | 1.6% | 1.1% | 3.9× | 797 |
Peers = companies sharing ON's sector (Technology) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.