ON vs. TER: ON Semiconductor vs. Teradyne Stock Comparison

November 11, 2026

How do ON Semiconductor (ON) and Teradyne (TER) 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 Teradyne (TER) both belong to the Semiconductors & Semiconductor Equipment industry, though ON is classified under Semiconductors while TER falls under Semiconductor Materials & Equipment.

Company profile comparison for ON Semiconductor (ON) and Teradyne (TER)
Profile Item	ON	TER
Name	ON Semiconductor Corporation	Teradyne, 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	34.07 billion USD
Currency	USD	USD
Exchange	Nasdaq	Nasdaq
Listing Date	May 2, 2000	February 21, 1973
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

TER

GSPC

ON Semiconductor (ON) vs. Teradyne (TER), 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 Teradyne (TER). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for ON Semiconductor (ON) and Teradyne (TER)
Metric	ON	TER
Total Return (1Y)	43.93%	31.13%
Total Return (3Y, Annualized)	2.27%	41.60%
Total Return (5Y, Annualized)	3.42%	10.83%

Risk Profile

Drawdown History

TER

GSPC

ON Semiconductor (ON) vs. Teradyne (TER), 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 Teradyne (TER). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for ON Semiconductor (ON) and Teradyne (TER)
Metric	ON	TER
Volatility (1Y, Annualized)	64.26%	78.35%
Beta (5Y)	2.14	1.78
Max Drawdown (5Y)	-70.44%	-59.12%
Avg. Volume (3M)	10.22M	3.01M

Risk-Adjusted Performance

Risk-Return Positioning

ON and TER 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 Teradyne (TER)
Metric	ON	TER
Sharpe Ratio (1Y)	0.62	0.34
Sortino Ratio (1Y)	0.88	0.48

Profitability

ROE (TTM)

Teradyne (TER) at 42.72% sits in the top ROE quartile, while ON Semiconductor (ON) at 8.91% is closer to the peer norm — stronger capital efficiency for TER.

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%

TER

Semiconductors & Semiconductor Equipment industry group

42.72%

Max: 52.82%
TER: 42.72%
Q3: 22.26%
Median: 10.58%
Q1: 1.29%
Min: -16.89%

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

Net Margin (TTM)

Both ON Semiconductor (ON) at 10.82% and Teradyne (TER) at 27.46% 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%

TER

Semiconductors & Semiconductor Equipment industry group

27.46%

Max: 63.80%
Q3: 28.36%
TER: 27.46%
Median: 11.44%
Q1: 0.90%
Min: -37.77%

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

Operating Margin (TTM)

Teradyne (TER) at 30.87% operates in the top operating margin quartile, ahead of ON Semiconductor (ON) at 22.23%, which runs around its industry’s norm.

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%

TER

Semiconductors & Semiconductor Equipment industry group

30.87%

Max: 58.66%
TER: 30.87%
Q3: 30.23%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

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

Profitability Metrics

Profitability metrics for ON Semiconductor (ON) and Teradyne (TER)
Metric	ON	TER
ROE (TTM)	8.91%	42.72%
ROA (TTM)	6.03%	21.59%
Net Margin (TTM)	10.82%	27.46%
Operating Margin (TTM)	22.23%	30.87%
Gross Margin (TTM)	39.90%	59.32%

Growth

Revenue Growth

Teradyne (TER) at 13.13% 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. Teradyne (TER): A comparison of their Revenue Growth across different time periods.

EPS Growth

Teradyne (TER) at 4.52% 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. Teradyne (TER): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for ON Semiconductor (ON) and Teradyne (TER)
Metric	ON	TER
Revenue Growth (YoY)	-15.35%	13.13%
Revenue Growth (3Y CAGR)	-10.37%	0.37%
EPS Growth (YoY)	-92.01%	4.52%
EPS Growth (3Y CAGR)	-59.10%	-6.31%

Financial Strength

Current Ratio (MRQ)

ON Semiconductor (ON) at 3.55 keeps current ratio within its industry’s typical mid-range, while Teradyne (TER) at 2.08 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for TER.

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

TER

Semiconductors & Semiconductor Equipment industry group

2.08

Max: 10.33
Q3: 5.62
Median: 3.33
Q1: 2.35
TER: 2.08
Min: 1.03

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

Debt / Equity (MRQ)

Teradyne (TER) at 0.04 keeps leverage in the lower industry quartile, while ON Semiconductor (ON) at 0.62 runs a more typical debt-to-equity mix.

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

TER

Semiconductors & Semiconductor Equipment industry group

0.04

Max: 1.46
Q3: 0.65
Median: 0.27
Q1: 0.04
TER: 0.04
Min: 0.00

ON Semiconductor (ON) vs. Teradyne (TER): 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 Teradyne (TER)
Metric	ON	TER
Current Ratio (MRQ)	3.55	2.08
Debt / Equity (MRQ)	0.62	0.04
Net Debt / EBITDA	0.18	-0.19

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 Teradyne (TER) reports a yield of 0.24%, 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%

TER

Semiconductors & Semiconductor Equipment industry group

0.24%

Max: 1.37%
Q3: 0.65%
TER: 0.24%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ON Semiconductor (ON) vs. Teradyne (TER): 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 Teradyne (TER) reports a payout of 5.86%, 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%

TER

Semiconductors & Semiconductor Equipment industry group

5.86%

Max: 49.64%
Q3: 21.71%
TER: 5.86%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for ON Semiconductor (ON) and Teradyne (TER)
Metric	ON	TER
Dividend Yield (TTM)	0.00%	0.24%
Dividend Payout Ratio (TTM)	0.00%	5.86%

Valuation

P/E Ratio (TTM)

Both ON Semiconductor (ON) at 37.02 and Teradyne (TER) at 25.08 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

TER

Semiconductors & Semiconductor Equipment industry group

25.08

Max: 110.34
Q3: 66.81
Median: 37.02
TER: 25.08
Q1: 23.96
Min: 8.12

ON Semiconductor (ON) vs. Teradyne (TER): 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 Teradyne (TER) at 6.81 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

TER

Semiconductors & Semiconductor Equipment industry group

6.81

Max: 21.42
Q3: 12.27
TER: 6.81
Median: 5.76
Q1: 2.73
Min: 0.00

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

P/B Ratio (MRQ)

ON Semiconductor (ON) at 3.26 is valued about in line with its industry on P/B ratio, while Teradyne (TER) at 9.24 carries an above-peer premium to book — TER is pricier on assets.

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

TER

Semiconductors & Semiconductor Equipment industry group

9.24

Max: 14.06
TER: 9.24
Q3: 7.44
Median: 4.29
Q1: 2.30
Min: 0.20

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

Valuation Metrics

Valuation metrics for ON Semiconductor (ON) and Teradyne (TER)
Metric	ON	TER
P/E Ratio (TTM)	37.02	25.08
P/S Ratio (TTM)	3.87	6.81
P/B Ratio (MRQ)	3.26	9.24
Free Cash Flow Yield (TTM)	6.55%	1.76%