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On Semiconductor vs Qnity Electronics: ON and Q compared
On Semiconductor is the larger company: $1.7B of revenue in its latest quarter (Q3 2026) against $1.6B for Qnity Electronics (Q3 2026). Qnity Electronics is growing faster (+22% against +11% a year earlier). On Semiconductor is more profitable, with an operating margin of 22.0% against 15.9%.
Where the money goes: ON and Q
On Semiconductor (ON) · Q3 2026
On Semiconductor, Q3 2026: revenue $1.7B (+11% year over year), operating margin 22.0%, net earnings $314M, operating cash flow $516M. The chart follows the revenue to costs, profit and cash.
Qnity Electronics (Q) · Q3 2026
Qnity Electronics, Q3 2026: revenue $1.6B (+22% year over year), operating margin 15.9%, net earnings $183M, operating cash flow $271M. The chart follows the revenue to costs, profit and cash.
| On Semiconductor (ON) | Qnity Electronics (Q) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $1.7B | $1.6B |
| Revenue growth, Y/Y | +11% | +22% |
| Gross margin | 41.4% | — |
| Operating margin | 22.0% | 15.9% |
| Net earnings | $314M | $183M |
| Net margin | 18.3% | 11.8% |
| Operating cash flow | $516M | $271M |
| Free cash flow | $489M | $193M |
| Market value | $25.2B | $24.5B |
| P/E | 37.9× | 44.0× |
| Analysts’ mean target | $96.16 | $173.30 |
Where the revenue comes from
On Semiconductor
- PSG: $890M (52%)
- AMG: $597M (35%)
- ISG: $235M (14%)
Qnity Electronics
- Semiconductor Technologies: $797M (51%)
- Interconnect Solutions: $759M (49%)
Questions
Which is bigger, On Semiconductor or Qnity Electronics?
On Semiconductor is the larger company: $1.7B of revenue in its latest quarter (Q3 2026) against $1.6B for Qnity Electronics (Q3 2026).
Is On Semiconductor or Qnity Electronics growing faster?
Qnity Electronics is growing faster (+22% against +11% a year earlier).
Which is more profitable, On Semiconductor or Qnity Electronics?
On Semiconductor is more profitable, with an operating margin of 22.0% against 15.9%.
More: On Semiconductor earnings · how On Semiconductor makes money · Qnity Electronics earnings · how Qnity Electronics makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 2, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.