Filing Flows › On Semiconductor (ON) › Q2 2026
On Semiconductor (ON) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 3, 2026
On Semiconductor (ON) reported revenue of $1.6B for the second quarter 2026 (Q2 2026), +9% from a year earlier and +6% from the quarter before. Operating margin was 16.1%, net earnings $228M (14.2% of revenue).
On Semiconductor, Q2 2026: revenue $1.6B (+9% year over year), operating margin 16.1%, net earnings $228M, operating cash flow $460M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.6B | +6% | +9% |
| Gross profit | $616M | +6% | +12% |
| Operating profit | $259M | — | +34% |
| Net earnings | $228M | — | +32% |
| Operating cash flow | $460M | +92% | +149% |
| Free cash flow | $425M | — | +301% |
What changed
Revenue was $1.6B in Q2 2026, up 9% year over year and up 6% from the previous quarter. PSG was the largest line at 52% of revenue. PSG added $0.13B year over year (up 19%), 97% of the total change. AMG declined 2%.
Gross margin was 38.4%, up 0.9 points from Q2 2025. Operating profit was $0.26B, a 16.1% margin (up 3.0 points year over year). Of the extra revenue versus Q2 2025, 48% reached operating profit, above the 13% margin then. Operating expenses fell 0% while revenue rose 9%. The fastest-growing cost line was General & admin (+12%). Net earnings were $0.23B, up 33% year over year. The effective tax rate was 16.0%.
Operating cash flow was $0.46B (up 149% year over year), 202% of net earnings. Non-cash charges added back $0.14B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items added $0.05B. After a) ($0.03B), free cash flow as the company reports it was $0.43B.
Questions
What was On Semiconductor's revenue in the second quarter 2026?
On Semiconductor (ON) reported revenue of $1.6B for the second quarter 2026 (Q2 2026), +9% from a year earlier and +6% from the quarter before.
Was On Semiconductor profitable in the second quarter 2026?
Operating profit was $259M (16.1% of revenue) and net earnings $228M.
Source: On Semiconductor 10-Q on SEC EDGAR.