ON · 10-K filed 9 Feb 2026 · year to 31 Dec 2025

ON Semiconductor

36 named things its latest annual report says its results depend on, each in the company's own words. 20 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

Distributors

earns from · approximately 54%, 53% and 52% of our revenuenamed as a risk

Sales to distributors accounted for approximately 54%, 53% and 52% of our revenue in 2025, 2024 and 2023, respectively.Business (Item 1)

Also named by AVGO, DXCM, MCHP, MSA, MTSI, MXL, RMBS, ROK and 1 more

Largest distributor (unnamed)

earns from · approximately 11% and 10% of the total revenuenamed as a risk

We had one customer, a distributor, whose revenue accounted for approximately 11% and 10% of the total revenue for the years ended 2025 and 2024, respectively, across all reportable segments.Risk factors (Item 1A)

Also named by FTNT, PANW

Automotive end-market

concentrated in · approximately 51% of our revenuenamed as a risk

Sales into the automotive and industrial end-markets represented approximately 51% and 28% of our revenue, respectively, for the year ended December 31, 2025.Risk factors (Item 1A)

Also named by ADI

Industrial end-market

concentrated in · 28% of our revenuenamed as a risk

Sales into the automotive and industrial end-markets represented approximately 51% and 28% of our revenue, respectively, for the year ended December 31, 2025.Risk factors (Item 1A)

Also named by ADI

Electric vehicles

earns fromnamed as a risk

Changes in demand in these end-markets (such as fluctuations in demand for EVs), or changes that have the potential to disrupt sales activities to customers in these end-markets, can significantly impact our operating results.Risk factors (Item 1A)

Also named by AAP, ALB, AZO, BWA, GPC, LKQ, PRM, SUN and 1 more

AI data centers

earns fromnamed as a risk

Our failure to commercialize new technologies that can power AI data centers in a timely manner or at all could result in a loss of market share, unanticipated costs and inventory obsolescence, which could adversely affect our financial results.Risk factors (Item 1A)

Also named by XOM

Suppliers

Third-party contract manufacturers

depends on · approximately 34% of our total manufacturing input costs in 2025named as a risk

These manufacturers collectively accounted for approximately 34% of our total manufacturing input costs in 2025, 33% in 2024 and 36% in 2023.Business (Item 1)

Also named by CIEN, KVUE, NBIX, SYM, WDFC

Partners and platforms

Leshan-Phoenix Semiconductor Company Limited

depends on · approximately 80% of Leshan's expected production capacity in 2026named as a risk

We purchased 80% of Leshan's production capacity in each of 2025, 2024 and 2023, and are currently committed to purchase approximately 80% of Leshan's expected production capacity in 2026.Business (Item 1)

Leshan Radio Company Ltd.

80% of the outstanding equity interests

Our joint venture partner is Leshan Radio Company Ltd. ("Leshan Radio").Business (Item 1)

Other companies

Qorvo US, Inc.

$118.8 million in cash

On January 14, 2025, we completed the acquisition of the Silicon Carbide Junction Field-Effect Transistor ("SiC JFET") technology business from Qorvo US, Inc., and certain of its subsidiaries, for $118.8 million in cash.Business (Item 1)

Aura Semiconductor

up to $144 million

The total purchase consideration is up to $144 million, subject to customary purchase price adjustments, with $7 million paid in cash at close.Business (Item 1)

Competitors

Infineon Technologies AG

competes with

PSG’s primary competitors include: Infineon Technologies AG ("Infineon"), STMicroelectronics N.V. ("STMicroelectronics"), Wolfspeed Inc., ROHM Semiconductor and Nexperia BV.Business (Item 1)

Also named by MRVL, TER

STMicroelectronics N.V.

competes with

PSG’s primary competitors include: Infineon Technologies AG ("Infineon"), STMicroelectronics N.V. ("STMicroelectronics"), Wolfspeed Inc., ROHM Semiconductor and Nexperia BV.Business (Item 1)

Wolfspeed Inc.

competes with

PSG’s primary competitors include: Infineon Technologies AG ("Infineon"), STMicroelectronics N.V. ("STMicroelectronics"), Wolfspeed Inc., ROHM Semiconductor and Nexperia BV.Business (Item 1)

Texas Instruments Incorporated

competes with

Competitors for certain of AMG's products and solutions include: Texas Instruments Incorporated, Analog Devices, Inc., Infineon, STMicroelectronics, Renesas Electronics Corporation, Monolithic Power Systems Inc. and NXP Semiconductors N.V.Business (Item 1)

Sony Semiconductor Manufacturing Corporation

competes with

Competitors for certain of ISG's products and solutions include: Sony Semiconductor Manufacturing Corporation, Samsung Electronics Co., Ltd., and Omnivision Technologies Inc.Business (Item 1)

Places

Asia Pacific

concentrated in · 73% in Asia Pacific and Japan

Of our regular full‑time workforce, roughly 15% are based in the United States and Canada, 12% in Europe and the Middle East, and 73% in Asia Pacific and Japan.Business (Item 1)

Also named by AIG, AVY, BLK, BNY, CCK, CL, COHR, DCI and 17 more

South Korea

operates in · 1,113,938

In addition to these front-end and back-end manufacturing operations, our facility in Hudson, New Hampshire manufactures SiC crystal boules and our facilities in Rožnov pod Radhoštěm, the Czech Republic and Bucheon, South Korea manufacture silicon and SiC wafers that are used by a number of our facilities.Business (Item 1)

Also named by AAPL, ALAB, AMAT, BE, BWA, CPNG, CROX, ENTG and 11 more

Hudson, New Hampshire

operates in · 272,036

Czech Republic

operates in · 450,755

East Fishkill, New York

operates in · 2,724,137

We operate front-end wafer fabrication facilities in the United States, the Czech Republic, Japan, South Korea, and Malaysia and back-end assembly and test site facilities in Canada, China, Malaysia, the Philippines, Vietnam and the United States.Business (Item 1)

Mountain Top, Pennsylvania

operates in · Approximately 150 of our U.S. employees, about 4% of our U.S. workforce

Approximately 150 of our U.S. employees, about 4% of our U.S. workforce, are covered by a collective bargaining agreement, all of whom are located at our Mountain Top, Pennsylvania manufacturing facility.Business (Item 1)

Philippines

operates in

We have global distribution centers in China, the Philippines and Singapore.Business (Item 1)

Also named by ACN, ADI, AEHR, COF, FDS, HRL, INTU, LITE and 5 more

Commodities and inputs

Foreign currencies (renminbi, koruna, euro, yen, won, ringgit, peso, dong)

exposed to its price · approximately $102.3 millionnamed as a risk

For example, we determined that based on a hypothetical weighted-average change of 10% in currency exchange rates, our operating income would have impacted our income before taxes by approximately $102.3 million for the year ended December 31, 2025, assuming no offsetting hedge position or correlated activities.Market risk (Item 7A)

Also named by ADSK, BR, ENTG, EXPE, MGNI, MRNA, SYK, UAL and 1 more

PFAS (per- and polyfluoroalkyl substances)

depends onnamed as a risk

For example, a number of domestic and foreign jurisdictions regulate, or may seek to regulate, the use of a class of chemicals known as per- and polyfluoroalkyl substances (“PFAS”), which are currently used in our products or the manufacture of some of our products, which may negatively impact our supply chain due to the potentially decreased availability, or non-availability, of PFAS-containing products or suitable alternatives.Risk factors (Item 1A)

Also named by ACHR, APG, CAG, CAVA, CTVA, DD, ES, FDX and 12 more

Gold

exposed to its pricenamed as a risk

Our manufacturing processes use many raw materials, including silicon wafers, SiC wafers, laminate substrates, gold, copper, lead frames, mold compound, ceramic packages and various chemicals and gases.Business (Item 1)

Also named by AMKR, APH, BLK, CDE, DC, EZPW, FCFS, FCX and 10 more

Democratic Republic of Congo conflict minerals

depends onnamed as a risk

In addition, an increasing number of OEMs are seeking to source products that do not contain minerals sourced from areas where proceeds from the sale of such minerals are likely to be used to fund armed conflicts, such as in the Democratic Republic of Congo.Risk factors (Item 1A)

Also named by MSI

Silicon carbide (SiC) wafers

depends onnamed as a risk

Regulators

U.S. Department of Commerce Entity List

subject tonamed as a risk

The U.S. Department of Commerce may add additional Chinese companies to its restricted entity list or unverified list and regulatory bodies of either country may take other actions that could expand licensing requirements or otherwise impact the market for our products and our revenue.Risk factors (Item 1A)

Also named by AMAT

Laws and programs

One Big Beautiful Bill Act (OBBBA)

subject tonamed as a risk

However, future changes in our financial results, business operations, or the interpretation and implementation of the OBBBA could result in a CAMT liability in subsequent periods.Risk factors (Item 1A)

Also named by AA, ABR, ADI, ADM, ALB, AMAT, AMGN, AMKR and 121 more

Foreign Corrupt Practices Act (FCPA)

subject tonamed as a risk

We are subject to the FCPA, which generally prohibits companies and their intermediaries from making improper payments to foreign officials for the purpose of obtaining or keeping business and/or other benefits, along with various other anti-corruption laws.Risk factors (Item 1A)

Also named by A, ADBE, ADP, AIR, AJG, ALB, AME, AMZN and 112 more

U.S.-China trade tensions

subject tonamed as a risk

More specifically, our assembly and test operations facility located in Leshan, China, which is owned by Leshan-Phoenix Semiconductor Company Limited, a joint venture company in which we own 80% of the outstanding equity interests, may be subjected to increased costs or additional trade restrictions stemming from the geopolitical tension between the United States and China.Risk factors (Item 1A)

Also named by CIEN, DD, MMM, OTIS

U.S. Export Administration Act

subject tonamed as a risk

For example, licenses or proper license exceptions are required for the shipment of our products to certain countries under applicable export control regulations, including the provisions of the U.S. Export Administration Act.Risk factors (Item 1A)

Foreign-derived intangible income (FDII)

subject tonamed as a risk

If our customers move manufacturing operations to the United States, our FDII deduction may be reduced.Risk factors (Item 1A)

U.S. and EU semiconductor subsidy legislation

subject tonamed as a risk

For example, the United States and the European Union have enacted legislation to provide funding and incentives for semiconductor research, development, and manufacturing in their respective regions.Risk factors (Item 1A)

International Traffic in Arms Regulations (ITAR)

subject to

We believe that our operations are in material compliance with applicable trade regulations relating to import-export control, technology transfer restrictions, ITAR, FCPA, the anti-boycott provisions of the U.S. Export Administration Act, and similar applicable laws and regulations.Business (Item 1)

Also named by ACHR, ADI, AIR, ALSN, APH, AVAV, CDRE, CLS and 29 more