Semiconductors
Price
$91.22
-3.60%Market Cap
$35.5B
Day High
$98.20
Day Low
$89.25
ON Semiconductor posted Q1 FY2026 revenue of $1.51B (+4.7% YoY) with a dramatic gross margin recovery to 38.5% from 20.3%, though the company remained modestly net-loss negative at -$33.4M amid significantly reduced operating losses versus the prior year.
Key risk: Declining Operating Cash Flow
Operating cash flow dropped sharply by 60.3% YoY to $239.1M from $602.3M, even as net losses narrowed. This divergence may reflect working capital headwinds or timing of collections, and if sustained, could pressure the company's ability to fund buybacks and debt service simultaneously.
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