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How On Semiconductor (ON) makes money
On Semiconductor (ON) made $1.7B of revenue in the third quarter 2026 (Q3 2026), +11% from a year earlier. PSG brought in $890M (52%); AMG brought in $597M (35%); ISG brought in $235M (14%). Of every dollar of revenue, 41¢ was left as gross profit, 22¢ was left as operating profit, 18¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| PSG | $890M | 51.7% | +7% | +21% |
| AMG | $597M | 34.7% | +9% | +2% |
| ISG | $235M | 13.7% | +3% | +2% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $1.7B | 100.0% |
| Cost of revenue | $1.0B | 58.6% |
| Gross profit | $713M | 41.4% |
| Operating expenses | $335M | 19.4% |
| Operating profit | $378M | 22.0% |
| Income tax | $84.9M | 4.9% |
| Net earnings | $314M | 18.3% |
| Operating cash flow | $516M | 30.0% |
| Free cash flow | $489M | 28.4% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $1.7B | +11% |
| Q2 2026 | $1.6B | +9% |
| Q1 2026 | $1.5B | +5% |
| Q4 2025 | $1.5B | -11% |
| Q3 2025 | $1.6B | -12% |
| Q2 2025 | $1.5B | -15% |
| Q1 2025 | $1.4B | -22% |
From On Semiconductor's 10-Q filed Nov 2, 2026 (on EDGAR).
Questions
How does On Semiconductor make money?
On Semiconductor (ON) made $1.7B of revenue in the third quarter 2026 (Q3 2026), +11% from a year earlier. PSG brought in $890M (52%); AMG brought in $597M (35%); ISG brought in $235M (14%). Of every dollar of revenue, 41¢ was left as gross profit, 22¢ was left as operating profit, 18¢ was left as net earnings.
What is On Semiconductor's biggest business?
PSG: $890M in the third quarter 2026, 52% of revenue, +21% from a year earlier.
What is On Semiconductor's profit margin?
Net earnings were $314M, 18.3% of revenue, in the third quarter 2026; the operating margin was 22.0%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.