ON vs. Q: ON Semiconductor vs. Qnity Electronics Stock Comparison

November 11, 2026

How do ON Semiconductor (ON) and Qnity Electronics (Q) 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

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

ON Semiconductor (ON) carries decades of public-market history since May 2, 2000, while Qnity Electronics (Q) listed on October 27, 2025 — long-window comparisons have far more historical data on the ON side.

Company profile comparison for ON Semiconductor (ON) and Qnity Electronics (Q)
Profile Item	ON	Q
Name	ON Semiconductor Corporation	Qnity Electronics Inc.
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	Semiconductors	Semiconductor Materials & Equipment
Market Capitalization	24.65 billion USD	24.46 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	May 2, 2000	October 27, 2025
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

GSPC

ON Semiconductor (ON) vs. Qnity Electronics (Q), 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 ON Semiconductor (ON) and Qnity Electronics (Q). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for ON Semiconductor (ON) and Qnity Electronics (Q)
Metric	ON	Q
Total Return (1Y)	43.93%	35.04%
Total Return (3Y, Annualized)	2.27%	--
Total Return (5Y, Annualized)	3.42%	--

Risk Profile

Drawdown History

GSPC

ON Semiconductor (ON) vs. Qnity Electronics (Q), 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 ON Semiconductor (ON) and Qnity Electronics (Q). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for ON Semiconductor (ON) and Qnity Electronics (Q)
Metric	ON	Q
Volatility (1Y, Annualized)	64.26%	55.87%
Beta (5Y)	2.14	1.49
Max Drawdown (5Y)	-70.44%	-38.03%
Avg. Volume (3M)	10.22M	1.73M

Risk-Adjusted Performance

Risk-Return Positioning

ON and Q 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 ON Semiconductor (ON) and Qnity Electronics (Q)
Metric	ON	Q
Sharpe Ratio (1Y)	0.62	0.55
Sortino Ratio (1Y)	0.88	0.80

Profitability

ROE (TTM)

Both ON Semiconductor (ON) at 8.91% and Qnity Electronics (Q) at 6.98% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

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%

Q

Semiconductors & Semiconductor Equipment industry group

6.98%

Max: 52.82%
Q3: 22.26%
Median: 10.58%
Q: 6.98%
Q1: 1.29%
Min: -16.89%

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

Net Margin (TTM)

Both ON Semiconductor (ON) at 10.82% and Qnity Electronics (Q) at 10.16% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

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%

Q

Semiconductors & Semiconductor Equipment industry group

10.16%

Max: 63.80%
Q3: 28.36%
Median: 11.44%
Q: 10.16%
Q1: 0.90%
Min: -37.77%

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

Operating Margin (TTM)

Both ON Semiconductor (ON) at 22.23% and Qnity Electronics (Q) at 25.00% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

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%

Q

Semiconductors & Semiconductor Equipment industry group

25.00%

Max: 58.66%
Q3: 30.23%
Q: 25.00%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

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

Profitability Metrics

Profitability metrics for ON Semiconductor (ON) and Qnity Electronics (Q)
Metric	ON	Q
ROE (TTM)	8.91%	6.98%
ROA (TTM)	6.03%	5.78%
Net Margin (TTM)	10.82%	10.16%
Operating Margin (TTM)	22.23%	25.00%
Gross Margin (TTM)	39.90%	46.92%

Growth

Revenue Growth

Qnity Electronics (Q) at 9.67% 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.

ON Semiconductor (ON) vs. Qnity Electronics (Q): A comparison of their Revenue Growth across different time periods.

EPS Growth

Qnity Electronics (Q) at -0.27% is around its peer norm for EPS growth, while ON Semiconductor (ON) at -92.01% drops into the bottom quartile, signaling weaker earnings momentum.

ON Semiconductor (ON) vs. Qnity Electronics (Q): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for ON Semiconductor (ON) and Qnity Electronics (Q)
Metric	ON	Q
Revenue Growth (YoY)	-15.35%	9.67%
Revenue Growth (3Y CAGR)	-10.37%	-0.01%
EPS Growth (YoY)	-92.01%	-0.27%
EPS Growth (3Y CAGR)	-59.10%	--

Financial Strength

Current Ratio (MRQ)

ON Semiconductor (ON) at 3.55 keeps current ratio within its industry’s typical mid-range, while Qnity Electronics (Q) at 2.09 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for Q.

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

Q

Semiconductors & Semiconductor Equipment industry group

2.09

Max: 10.33
Q3: 5.62
Median: 3.33
Q1: 2.35
Q: 2.09
Min: 1.03

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

Debt / Equity (MRQ)

Both ON Semiconductor (ON) at 0.62 and Qnity Electronics (Q) at 0.57 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

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

Q

Semiconductors & Semiconductor Equipment industry group

0.57

Max: 1.46
Q3: 0.65
Q: 0.57
Median: 0.27
Q1: 0.04
Min: 0.00

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

Financial Strength Metrics

Financial strength metrics for ON Semiconductor (ON) and Qnity Electronics (Q)
Metric	ON	Q
Current Ratio (MRQ)	3.55	2.09
Debt / Equity (MRQ)	0.62	0.57
Net Debt / EBITDA	0.18	2.07

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 Qnity Electronics (Q) reports a yield of 0.27%, ranking against industry peers normally.

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%

Q

Semiconductors & Semiconductor Equipment industry group

0.27%

Max: 1.37%
Q3: 0.65%
Q: 0.27%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ON Semiconductor (ON) vs. Qnity Electronics (Q): 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 Qnity Electronics (Q) reports a payout of 11.28%, ranking against industry peers normally.

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%

Q

Semiconductors & Semiconductor Equipment industry group

11.28%

Max: 49.64%
Q3: 21.71%
Q: 11.28%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for ON Semiconductor (ON) and Qnity Electronics (Q)
Metric	ON	Q
Dividend Yield (TTM)	0.00%	0.27%
Dividend Payout Ratio (TTM)	0.00%	11.28%

Valuation

P/E Ratio (TTM)

Both ON Semiconductor (ON) at 37.02 and Qnity Electronics (Q) at 43.98 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

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

Q

Semiconductors & Semiconductor Equipment industry group

43.98

Max: 110.34
Q3: 66.81
Q: 43.98
Median: 37.02
Q1: 23.96
Min: 8.12

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

P/S Ratio (TTM)

On P/S ratio, both ON Semiconductor (ON) at 3.87 and Qnity Electronics (Q) at 4.46 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

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

Q

Semiconductors & Semiconductor Equipment industry group

4.46

Max: 21.42
Q3: 12.27
Median: 5.76
Q: 4.46
Q1: 2.73
Min: 0.00

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

P/B Ratio (MRQ)

On P/B ratio, both ON Semiconductor (ON) at 3.26 and Qnity Electronics (Q) at 3.22 are valued close to their industries’ norm against book — neither stands out from peers.

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

Q

Semiconductors & Semiconductor Equipment industry group

3.22

Max: 14.06
Q3: 7.44
Median: 4.29
Q: 3.22
Q1: 2.30
Min: 0.20

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

Valuation Metrics

Valuation metrics for ON Semiconductor (ON) and Qnity Electronics (Q)
Metric	ON	Q
P/E Ratio (TTM)	37.02	43.98
P/S Ratio (TTM)	3.87	4.46
P/B Ratio (MRQ)	3.26	3.22
Free Cash Flow Yield (TTM)	6.55%	2.85%