ON Semiconductor Corporation FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $6.0B |
| Gross margin | 33.1% |
| Operating income | $84.2M |
| Net income | $121.0M |
| Diluted EPS | $0.29 |
| Cash & equivalents | $2.1B |
| Total assets | $12.5B |
| Long-term debt | $3.0B |
Key takeaway
2025 results were significantly impacted by a company-wide manufacturing realignment program that included $496.0 million in non-cash asset impairments and $67.1 million in severance costs for about 2,400 employees.
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Beneath the surface
Net debt is roughly $857 million ($2,980.5M long-term debt plus other debt items totaling about $3,004.9M carrying value, minus $2,147.6M cash), a more modest leverage position than the gross debt figure alone suggests.
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This is the free preview. The full analysis explains every line item above and includes 7 more findings — plus insider trades, activist stakes, and 8-K events for ON.
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