Is it safe?
Can ON take a bad year?
ON Semiconductor carries $595M of net debt at 0.50× EBITDA: a load its earnings can carry.
$595M
Net debt · as at Q2 2026 · under two and a half years of EBITDA, comfortable
- Net debt / EBITDA
- 0.50×
Net debt / EBITDA · 0.63× a year ago · the load is coming down
- Altman Z-score
- 7.52
Altman Z-score · safe zone, above 3
- Interest cover
- 10.9×
Interest cover · operating profit covers the interest bill several times over
Details›
- Total debtQ2 2026
- $4.46B
- Cash and short-term investments
- $3.86B
- Net debt
- $595M
- EBITDA, trailing twelve months
- $1.19B
- Operating profit, trailing twelve months
- $670M
- Debt / equity
- 0.62×
- Total debt / EBITDA
- 3.74×
- Annualised volatilitytwo years of daily moves
- 58%
- Worst drawdown on file
- −70%
- Below its 52-week high
- −45%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.