Astera Labs (ALAB) vs ON Semiconductor (ON)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Astera Labs (ALAB) has outperformed ON Semiconductor (ON) over the past year, gaining 58.2% versus a gain of 56.1%. Astera Labs is the larger company by market cap ($59.02 billion vs $29.60 billion), about 2.0 times the size. On valuation, ON Semiconductor trades at a lower forward P/E (16.8x vs 53.2x for Astera Labs).
Astera Labs converts more of its revenue into profit, with a net margin of 25.7% versus 2.0%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | ALAB | ON |
|---|---|---|
| Share price | $340.23 | $76.04 |
| Market cap | $59.02B | $29.60B |
| 1-day change | -1.97% | -4.24% |
| YTD return | +108.61% | +46.65% |
| 1-year return | +58.21% | +56.07% |
| 5-year return | — | +83.27% |
| P/E ratio (TTM) | 167.60 | 49.06 |
| Forward P/E | 53.21 | 16.79 |
| EPS (TTM) | $2.03 | $1.55 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $852.52M | $6.00B |
| Revenue growth (YoY) | +115.13% | -15.35% |
| Net income (latest FY) | $219.13M | $121.00M |
| Gross margin | 75.69% | 33.09% |
| Operating margin | 20.34% | 1.40% |
| Net margin | 25.70% | 2.02% |
| 52-week high | $499.48 | $134.92 |
| 52-week low | $97.89 | $44.56 |
| Distance from 52-week high | -31.88% | -43.64% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +14.62% | +37.38% |
| Average volume | 4.21M | 9.99M |
| Shares outstanding | 173.49M | 389.32M |
| Employees | 756 | 22,600 |
| Sector | Technology | Technology |
| Industry | Semiconductors | Semiconductors |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Astera Labs trades at a higher earnings multiple (167.6x vs 49.1x trailing P/E).
- Astera Labs is more profitable, keeping 25.7 cents of every revenue dollar as net income versus 2.0 cents for ON Semiconductor.
- Astera Labs grew revenue faster in its latest fiscal year (+115.13% vs -15.35%).
About Astera Labs
ALAB stock →Astera Labs, Inc. designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure in Taiwan and the United States.
Technology · Semiconductors · 756 employees
About ON Semiconductor
ON stock →ON Semiconductor Corporation provides intelligent sensing and power solutions in Hong Kong, Singapore, the United Kingdom, the United States, and internationally. It operates through three segments: Power Solutions Group, Analog and Mixed-Signal Group, and Intelligent Sensing Group.
Technology · Semiconductors · 22,600 employees
ALAB vs ON FAQ
Which is bigger, Astera Labs or ON Semiconductor?
Astera Labs (ALAB) is larger, with a market capitalization of $59.02B compared with $29.60B for ON Semiconductor (ON).
Which stock has performed better over the past year, ALAB or ON?
ALAB returned +58.21% over the past 12 months, compared with +56.07% for ON (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, ALAB or ON?
ON has the lower trailing P/E at 49.1, versus 167.6 for ALAB. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Are Astera Labs and ON Semiconductor in the same industry?
Yes. Both are classified in the Semiconductors industry within the Technology sector.