ONCAUTIOUS

ON EV/EBITDA Analysis

13.9x

Updated 57h ago·SEC filings & market data

Key Takeaway

EV/EBITDA compares a company’s total value (market cap plus debt minus cash) to its operating earnings before interest, taxes, depreciation, and amortization — a higher number means investors pay more for each dollar of earnings.

Sector Performance

52th percentile

13.9x

Sector Median

13.6x

Sector Avg

-30.9x

Prior Period

14.2x(Aug 2026)

↑ Improving

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Deep Analysis

ON’s current 15.6x sits above the sector median of 13.5x, placing it in the 59th percentile of peers, so it is pricier than most similar companies. The metric is decreasing, with a quarter-over-quarter drop of -2.7% and no year-over-year figure available; over the last eight quarters the direction is down, and the latest readings are 15.6x, 16.0x, and 17.7x. A high but falling multiple means the company’s valuation is still stretched versus peers, yet the downward trend is narrowing that gap, which can reduce downside risk if earnings hold up. This combination does not contradict the overall CAUTIOUS verdict — the premium to the sector median keeps ON in caution territory, even as the easing trend offers a mild check on that risk.

Frequently Asked Questions

What does the EV/EBITDA tell investors about ON?

A valuation multiple preferred by analysts for capital-intensive or leveraged businesses. Useful for cross-sector comparisons where earnings can be distorted by debt.

How is the EV/EBITDA calculated?

EV/EBITDA is calculated as: Enterprise Value / EBITDA.

Who are ON's closest peers by EV/EBITDA?

The closest peers by EV/EBITDA include: SMTC (76.6x), SHOP (80.2x), OKTA (83.5x), TEAM (101.4x), STEM (102.7x).

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Learn More About EV/EBITDA

EV/EBITDA Explained: The Valuation Metric Pro Investors Actually Use

Learn what EV/EBITDA is, why it beats P/E for capital-heavy companies, typical sector ranges, and key limitations every serious investor should know.

The Formula

Enterprise Value / EBITDA

Why It Matters

A valuation multiple preferred by analysts for capital-intensive or leveraged businesses. Useful for cross-sector comparisons where earnings can be distorted by debt.