MKSI vs. ON: MKS vs. ON Semiconductor Stock Comparison

November 11, 2026

How do MKS (MKSI) and ON Semiconductor (ON) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

MKS (MKSI) and ON Semiconductor (ON) both belong to the Semiconductors & Semiconductor Equipment industry, though MKSI is classified under Semiconductor Materials & Equipment while ON falls under Semiconductors.

Company profile comparison for MKS (MKSI) and ON Semiconductor (ON)
Profile Item	MKSI	ON
Name	MKS Inc.	ON Semiconductor Corporation
Country/Region	United States	United States
GICS Sector	Information Technology	Information Technology
GICS Industry Group	Semiconductors & Semiconductor Equipment	Semiconductors & Semiconductor Equipment
GICS Industry	Semiconductors & Semiconductor Equipment	Semiconductors & Semiconductor Equipment
GICS Sub-Industry	Semiconductor Materials & Equipment	Semiconductors
Market Capitalization	13.00 billion USD	24.65 billion USD
Currency	USD	USD
Exchange	Nasdaq	Nasdaq
Listing Date	March 30, 1999	May 2, 2000
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

MKSI

GSPC

MKS (MKSI) vs. ON Semiconductor (ON), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for MKS (MKSI) and ON Semiconductor (ON). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for MKS (MKSI) and ON Semiconductor (ON). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for MKS (MKSI) and ON Semiconductor (ON)
Metric	MKSI	ON
Total Return (1Y)	35.07%	43.93%
Total Return (3Y, Annualized)	46.46%	2.27%
Total Return (5Y, Annualized)	6.02%	3.42%

Risk Profile

Drawdown History

MKSI

GSPC

MKS (MKSI) vs. ON Semiconductor (ON), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for MKS (MKSI) and ON Semiconductor (ON). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for MKS (MKSI) and ON Semiconductor (ON)
Metric	MKSI	ON
Volatility (1Y, Annualized)	62.92%	64.26%
Beta (5Y)	2.12	2.14
Max Drawdown (5Y)	-66.57%	-70.44%
Avg. Volume (3M)	1.36M	10.22M

Risk-Adjusted Performance

Risk-Return Positioning

MKSI and ON are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for MKS (MKSI) and ON Semiconductor (ON)
Metric	MKSI	ON
Sharpe Ratio (1Y)	0.49	0.62
Sortino Ratio (1Y)	0.70	0.88

Profitability

ROE (TTM)

Both MKS (MKSI) at 20.46% and ON Semiconductor (ON) at 8.91% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

MKSI

Semiconductors & Semiconductor Equipment industry group

20.46%

Max: 52.82%
Q3: 22.26%
MKSI: 20.46%
Median: 10.58%
Q1: 1.29%
Min: -16.89%

ON

Semiconductors & Semiconductor Equipment industry group

8.91%

Max: 52.82%
Q3: 22.26%
Median: 10.58%
ON: 8.91%
Q1: 1.29%
Min: -16.89%

MKS (MKSI) vs. ON Semiconductor (ON): A comparison of their ROE against the Semiconductors & Semiconductor Equipment industry group benchmark.

Net Margin (TTM)

Both MKS (MKSI) at 12.62% and ON Semiconductor (ON) at 10.82% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

MKSI

Semiconductors & Semiconductor Equipment industry group

12.62%

Max: 63.80%
Q3: 28.36%
MKSI: 12.62%
Median: 11.44%
Q1: 0.90%
Min: -37.77%

ON

Semiconductors & Semiconductor Equipment industry group

10.82%

Max: 63.80%
Q3: 28.36%
Median: 11.44%
ON: 10.82%
Q1: 0.90%
Min: -37.77%

MKS (MKSI) vs. ON Semiconductor (ON): A comparison of their net margin against the Semiconductors & Semiconductor Equipment industry group benchmark.

Operating Margin (TTM)

Both MKS (MKSI) at 23.21% and ON Semiconductor (ON) at 22.23% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

MKSI

Semiconductors & Semiconductor Equipment industry group

23.21%

Max: 58.66%
Q3: 30.23%
MKSI: 23.21%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

ON

Semiconductors & Semiconductor Equipment industry group

22.23%

Max: 58.66%
Q3: 30.23%
ON: 22.23%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

MKS (MKSI) vs. ON Semiconductor (ON): A comparison of their operating margin against the Semiconductors & Semiconductor Equipment industry group benchmark.

Profitability Metrics

Profitability metrics for MKS (MKSI) and ON Semiconductor (ON)
Metric	MKSI	ON
ROE (TTM)	20.46%	8.91%
ROA (TTM)	6.28%	6.03%
Net Margin (TTM)	12.62%	10.82%
Operating Margin (TTM)	23.21%	22.23%
Gross Margin (TTM)	47.26%	39.90%

Growth

Revenue Growth

MKS (MKSI) at 9.62% is around its peer norm for revenue growth, while ON Semiconductor (ON) at -15.35% drops into the bottom quartile, signaling weaker demand or pricing momentum.

MKS (MKSI) vs. ON Semiconductor (ON): A comparison of their Revenue Growth across different time periods.

EPS Growth

MKS (MKSI) at 55.52% sits in the top EPS growth quartile, while ON Semiconductor (ON) at -92.01% is in the bottom quartile, showing a clear gap in earnings momentum.

MKS (MKSI) vs. ON Semiconductor (ON): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for MKS (MKSI) and ON Semiconductor (ON)
Metric	MKSI	ON
Revenue Growth (YoY)	9.62%	-15.35%
Revenue Growth (3Y CAGR)	3.49%	-10.37%
EPS Growth (YoY)	55.52%	-92.01%
EPS Growth (3Y CAGR)	-7.71%	-59.10%

Financial Strength

Current Ratio (MRQ)

ON Semiconductor (ON) at 3.55 keeps current ratio within its industry’s typical mid-range, while MKS (MKSI) at 1.19 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for MKSI.

MKSI

Semiconductors & Semiconductor Equipment industry group

1.19

Max: 10.33
Q3: 5.62
Median: 3.33
Q1: 2.35
MKSI: 1.19
Min: 1.03

ON

Semiconductors & Semiconductor Equipment industry group

3.55

Max: 10.33
Q3: 5.62
ON: 3.55
Median: 3.33
Q1: 2.35
Min: 1.03

MKS (MKSI) vs. ON Semiconductor (ON): A comparison of their current ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Debt / Equity (MRQ)

ON Semiconductor (ON) at 0.62 carries an industry-typical debt-to-equity mix, while MKS (MKSI) at 1.22 uses more debt funding than most peers.

MKSI

Semiconductors & Semiconductor Equipment industry group

1.22

Max: 1.46
MKSI: 1.22
Q3: 0.65
Median: 0.27
Q1: 0.04
Min: 0.00

ON

Semiconductors & Semiconductor Equipment industry group

0.62

Max: 1.46
Q3: 0.65
ON: 0.62
Median: 0.27
Q1: 0.04
Min: 0.00

MKS (MKSI) vs. ON Semiconductor (ON): A comparison of their debt-to-equity ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Financial Strength Metrics

Financial strength metrics for MKS (MKSI) and ON Semiconductor (ON)
Metric	MKSI	ON
Current Ratio (MRQ)	1.19	3.55
Debt / Equity (MRQ)	1.22	0.62
Net Debt / EBITDA	2.67	0.18

Dividends

Dividend Yield (TTM)

ON Semiconductor (ON) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile MKS (MKSI) reports a yield of 0.55%, ranking against industry peers normally.

MKSI

Semiconductors & Semiconductor Equipment industry group

0.55%

Max: 1.37%
Q3: 0.65%
MKSI: 0.55%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ON

Semiconductors & Semiconductor Equipment industry group

0.00%

Max: 1.37%
Q3: 0.65%
ON: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

MKS (MKSI) vs. ON Semiconductor (ON): A comparison of their dividend yield against the Semiconductors & Semiconductor Equipment industry group benchmark.

Dividend Payout Ratio (TTM)

ON Semiconductor (ON) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile MKS (MKSI) reports a payout of 11.48%, ranking against industry peers normally.

MKSI

Semiconductors & Semiconductor Equipment industry group

11.48%

Max: 49.64%
Q3: 21.71%
MKSI: 11.48%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ON

Semiconductors & Semiconductor Equipment industry group

0.00%

Max: 49.64%
Q3: 21.71%
ON: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

MKS (MKSI) vs. ON Semiconductor (ON): A comparison of their payout ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Dividend Metrics

Dividend metrics for MKS (MKSI) and ON Semiconductor (ON)
Metric	MKSI	ON
Dividend Yield (TTM)	0.55%	0.00%
Dividend Payout Ratio (TTM)	11.48%	0.00%

Valuation

P/E Ratio (TTM)

MKS (MKSI) at 22.75 sits in the cheaper P/E ratio quartile, while ON Semiconductor (ON) at 37.02 is closer to its industry’s usual earnings multiple — a discount for MKSI, though growth and earnings durability still matter.

MKSI

Semiconductors & Semiconductor Equipment industry group

22.75

Max: 110.34
Q3: 66.81
Median: 37.02
Q1: 23.96
MKSI: 22.75
Min: 8.12

ON

Semiconductors & Semiconductor Equipment industry group

37.02

Max: 110.34
Q3: 66.81
ON: 37.02
Median: 37.02
Q1: 23.96
Min: 8.12

MKS (MKSI) vs. ON Semiconductor (ON): A comparison of their P/E ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

P/S Ratio (TTM)

MKS (MKSI) at 2.72 sits in the cheaper P/S ratio quartile while ON Semiconductor (ON) at 3.87 prices around its industry’s middle — MKSI costs less per dollar of sales, though read it alongside growth and margins.

MKSI

Semiconductors & Semiconductor Equipment industry group

2.72

Max: 21.42
Q3: 12.27
Median: 5.76
Q1: 2.73
MKSI: 2.72
Min: 0.00

ON

Semiconductors & Semiconductor Equipment industry group

3.87

Max: 21.42
Q3: 12.27
Median: 5.76
ON: 3.87
Q1: 2.73
Min: 0.00

MKS (MKSI) vs. ON Semiconductor (ON): A comparison of their P/S ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both MKS (MKSI) at 3.96 and ON Semiconductor (ON) at 3.26 are valued close to their industries’ norm against book — neither stands out from peers.

MKSI

Semiconductors & Semiconductor Equipment industry group

3.96

Max: 14.06
Q3: 7.44
Median: 4.29
MKSI: 3.96
Q1: 2.30
Min: 0.20

ON

Semiconductors & Semiconductor Equipment industry group

3.26

Max: 14.06
Q3: 7.44
Median: 4.29
ON: 3.26
Q1: 2.30
Min: 0.20

MKS (MKSI) vs. ON Semiconductor (ON): A comparison of their P/B ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Valuation Metrics

Valuation metrics for MKS (MKSI) and ON Semiconductor (ON)
Metric	MKSI	ON
P/E Ratio (TTM)	22.75	37.02
P/S Ratio (TTM)	2.72	3.87
P/B Ratio (MRQ)	3.96	3.26
Free Cash Flow Yield (TTM)	4.02%	6.55%