AI English summary of an SEC filing — figures as filed
ON Semiconductor ONON Semiconductor said revenue for 2023 was $8,253.0 million, down 0.9% from $8,326.2 million in 2022. It said gross margin fell about 190 basis points, from 49.0% to 47.1%.
Key points
AI summaryON Semiconductor said revenue for 2023 was $8,253.0 million, down 0.9% from $8,326.2 million in 2022. It said gross margin fell about 190 basis points, from 49.0% to 47.1%.
The company said revenue in 2023 rose 5.7% in PSG and 3.0% in ISG compared with 2022, while ASG fell 12.4%. It cited the continued ramp-up of SiC and other power automotive solutions as the driver of the PSG increase.
onsemi said net income attributable to onsemi for 2023 was $2,183.7 million (2022: $1,902.2 million), and operating income was $2,538.7 million (2022: $2,360.0 million). It attributed the increases to the 2022 QCS wind down goodwill and intangible asset impairment charges of $386.8 million, which did not recur in 2023.
The company said operating cash flow for 2023 was $1,977.5 million, down $655.6 million (24.9%) from the prior year, and that it paid $1,575.6 million for capital expenditures. It attributed capital expenditures rising to 19% of revenue to investments to expand SiC manufacturing capacity, and said it expects capital expenditures in 2024 to be 10% to 12% of revenue.
Key figures
Fiscal year ended December 31, 2023
- Revenue
- $8.3B
- Operating income
- $2.5B
- Net income
- $2.2B
- EPS
- $4.89
- Gross profit
- $3.9B
- Operating cash flow
- $2.0B
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
2023 Revenue $8,253.0 million, Gross Margin 47.1%
ON Semiconductor said revenue for 2023 was $8,253.0 million, down 0.9% from $8,326.2 million in 2022. It said gross margin fell about 190 basis points, from 49.0% to 47.1%.
Source · Based on the MD&A text of the filing
2023 Segment Revenue: PSG and ISG Up, ASG Down 12.4%
The company said revenue in 2023 rose 5.7% in PSG and 3.0% in ISG compared with 2022, while ASG fell 12.4%. It cited the continued ramp-up of SiC and other power automotive solutions as the driver of the PSG increase.
Source · Based on the MD&A text of the filing
2023 Operating and Net Income Up on 2022 QCS Wind Down Impairment $386.8 million
onsemi said net income attributable to onsemi for 2023 was $2,183.7 million (2022: $1,902.2 million), and operating income was $2,538.7 million (2022: $2,360.0 million). It attributed the increases to the 2022 QCS wind down goodwill and intangible asset impairment charges of $386.8 million, which did not recur in 2023.
Source · Based on the MD&A text of the filing
2023 Operating Cash Flow $1,977.5 million, Capex $1,575.6 million
The company said operating cash flow for 2023 was $1,977.5 million, down $655.6 million (24.9%) from the prior year, and that it paid $1,575.6 million for capital expenditures. It attributed capital expenditures rising to 19% of revenue to investments to expand SiC manufacturing capacity, and said it expects capital expenditures in 2024 to be 10% to 12% of revenue.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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