ON Semiconductor (ON) vs Tower Semiconductor (TSEM)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 7, 2026.
Summary
Tower Semiconductor (TSEM) has outperformed ON Semiconductor (ON) over the past year, gaining 244.4% versus a gain of 71.3%. Over five years, TSEM leads with a +721.7% price change compared with +90.4% for ON. ON Semiconductor is the larger company by market cap ($32.12 billion vs $28.06 billion), about 1.1 times the size, while Tower Semiconductor is growing revenue faster (+9.1% vs -15.3%).
On valuation, ON Semiconductor trades at a lower forward P/E (18.2x vs 37.0x for Tower Semiconductor). Tower Semiconductor converts more of its revenue into profit, with a net margin of 14.1% 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 | ON | TSEM |
|---|---|---|
| Share price | $82.51 | $248.25 |
| Market cap | $32.12B | $28.06B |
| 1-day change | -4.40% | -3.93% |
| YTD return | +52.37% | +111.42% |
| 1-year return | +71.29% | +244.41% |
| 5-year return | +90.42% | +721.75% |
| P/E ratio (TTM) | 53.23 | 98.12 |
| Forward P/E | 18.22 | 36.99 |
| EPS (TTM) | $1.55 | $2.53 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $6.00B | $1.57B |
| Revenue growth (YoY) | -15.35% | +9.05% |
| Net income (latest FY) | $121.00M | $220.47M |
| Gross margin | 33.09% | 23.23% |
| Operating margin | 1.40% | 12.40% |
| Net margin | 2.02% | 14.08% |
| 52-week high | $134.92 | $319.94 |
| 52-week low | $44.56 | $70.90 |
| Distance from 52-week high | -38.85% | -22.41% |
| Analyst consensus | buy | strong_buy |
| Avg. price target upside | +26.60% | +26.05% |
| Average volume | 10.00M | 1.88M |
| Shares outstanding | 389.32M | 113.03M |
| Employees | 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
- TSEM has outperformed ON by 173.1 percentage points over the past year.
- Tower Semiconductor trades at a higher earnings multiple (98.1x vs 53.2x trailing P/E).
- Tower Semiconductor is more profitable, keeping 14.1 cents of every revenue dollar as net income versus 2.0 cents for ON Semiconductor.
- Tower Semiconductor grew revenue faster in its latest fiscal year (+9.05% vs -15.35%).
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
About Tower Semiconductor
TSEM stock →Tower Semiconductor Ltd., an independent semiconductor foundry, provides technology, development, and process platforms for integrated circuits in the United States, Japan, rest of Asia, and Europe. The company provides customizable process technologies, including SiGe, SiPho, mixed signal CMOS, RF CMOS, CMOS image sensor, non-imaging sensors, wafers, and integrated power management.
Technology · Semiconductors
ON vs TSEM FAQ
Which is bigger, ON Semiconductor or Tower Semiconductor?
ON Semiconductor (ON) is larger, with a market capitalization of $32.12B compared with $28.06B for Tower Semiconductor (TSEM).
Which stock has performed better over the past year, ON or TSEM?
TSEM returned +244.41% over the past 12 months, compared with +71.29% for ON (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, ON or TSEM?
ON has the lower trailing P/E at 53.2, versus 98.1 for TSEM. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Are ON Semiconductor and Tower Semiconductor in the same industry?
Yes. Both are classified in the Semiconductors industry within the Technology sector.