自社株買いにより2025年のフリーキャッシュフローのうち14億ドルを還元
2026年2月10日（米国2026年2月9日発表）- オンセミ（onsemi、本社 米国アリゾナ州スコッツデール、Nasdaq: ON）は、2025年第4四半期および2025年度の決算結果を発表しました。
主なハイライト：
- 第4四半期の売上高は15億3,000万ドル
- 第4四半期のGAAPベースの売上総利益率は36.0%、非GAAPベースの売上総利益率は38.2%
- 第4四半期のGAAPベースの営業利益率は13.1%、非GAAPベースの営業利益率は19.8%
- 第4四半期のGAAPベースの希薄化後1株当たり利益は0.45ドル、非GAAPベースの希薄化後1株当たり利益は0.64ドル
- 2025年の営業活動によるキャッシュフローは18億ドル、フリーキャッシュフローは14億ドルで、過去最高となる24%のフリーキャッシュフローマージンを達成
オンセミで社長兼CEOを務めるハッサーン・エルコーリー（Hassane El-Khoury）は、次のように述べています。「主要市場において安定化の兆しが強まる中、当社は規律を持って業務を遂行し、第4四半期は予想通りの結果を出しました。当社は、業界を方向付ける最も重要な技術移行期において成功を収めるために、インテリジェントなパワーおよびセンシング技術への投資を継続しています。当社の戦略は明確です。顧客により高い価値のソリューションを提供し、株主に長期的リターンをもたらすイノベーションを通じて、自動車、産業、AIデータセンター向け電力市場をリードすることです」
オンセミでEVP兼CFOを務めるサド・トレント（Thad Trent）は次のように述べています。「2025年には、14億ドルのフリーキャッシュフローを生み出し、自社株買いを通じて年間フリーキャッシュフローの100%を株主に還元しました。大規模な投資サイクルを経て、新技術の立ち上げが進む中で、財務基盤の強化を継続しています。全社的にコスト構造の大幅な改善を推進することで、今後のオペレーティングモデルにおいて、より大きなレバレッジを生み出しています。当社は引き続きオペレーショナルエクセレンスと利益率の拡大に注力しており、市場環境が好転した際に恩恵を受ける好位置にいます」
2025年第4四半期の事業ハイライト：
- 今後3年間で最大60億ドルの新たな自社株買いプログラムの承認を発表
- 縦型窒化ガリウム（vGaN)パワー半導体を投入し、これらのアプリケーションにおける電力密度、効率、堅牢性の新たなベンチマークを確立
- Innoscienceと覚書（MoU）を締結し、同社の実績ある200mm GaN-on-Siliconプロセスを活用した窒化ガリウム（GaN）パワーデバイスの生産拡大に向けて検討を開始
- GlobalFoundries（GF）と新たな協業契約を締結し、650V製品を皮切りに、次世代窒化ガリウム（GaN）パワーデバイスの開発と製造を予定
* Diluted shares outstanding can vary as a result of, among other things, the vesting of restricted stock units, the incremental dilutive shares from the Company's convertible notes, and the repurchase or the issuance of stock or convertible notes or the sale of treasury shares. In periods when the quarterly average stock price per share exceeds $52.97 for the 0% Notes, and $103.87 for the 0.50% Notes, the non-GAAP diluted share count and non-GAAP net income per share include the anti-dilutive impact of the Company’s hedge transactions entered concurrently with the 0% Notes and the 0.50% Notes, respectively. At an average stock price per share between $52.97 and $74.34 for the 0% Notes and $103.87 and $156.78 for the 0.50% Notes, the hedging activity offsets the potentially dilutive effect of the 0% Notes and 0.50% Notes, respectively. In periods when the quarterly average stock price exceeds $74.34 for the 0% Notes, and $156.78 for the 0.50% Notes, the dilutive impact of the warrants issued concurrently with such notes are included in the diluted shares outstanding. GAAP and non-GAAP diluted share counts are based on either the previous quarter's average stock price or the stock price as of the last day of the previous quarter, whichever is higher.
** Special items may include: amortization of intangibles; expensing of appraised inventory fair market value step-up; purchased in-process research and development expenses; restructuring, asset impairments and other, net; goodwill and intangible asset impairment charges; gains and losses on debt prepayment; non-cash interest expense; actuarial (gains) losses on pension plans and other pension benefits; and certain other special items, as necessary. These special items are out of our control and could change significantly from period to period. As a result, we are not able to reasonably estimate and separately present the individual impact or probable significance of these special items, and we are similarly unable to provide a reconciliation of the non-GAAP measures. The reconciliation that is unavailable would include a forward-looking income statement, balance sheet and statement of cash flows in accordance with GAAP. For this reason, we use a projected range of the aggregate amount of special items in order to calculate our projected non-GAAP operating expense outlook.
*** We believe these non-GAAP measures provide important supplemental information to investors. We use these measures, together with GAAP measures, for internal managerial purposes and as a means to evaluate period-to-period comparisons. However, we do not, and you should not, rely on non-GAAP financial measures alone as measures of our performance. We believe that non-GAAP financial measures reflect an additional way of viewing aspects of our operations that, when taken together with GAAP results and the reconciliations to corresponding GAAP financial measures that we also provide in our releases, provide a more complete understanding of factors and trends affecting our business. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures, even if they have similar names.
TELECONFERENCE
onsemi will host a conference call for the financial community at 5 p.m. Eastern Time (EST) on February 9, 2026 to discuss this announcement and onsemi’s results for the fourth quarter of 2025 and fiscal year 2025. The Company will also provide a real-time audio webcast of the teleconference on the Investor Relations page of its website at http://www.onsemi.com. The webcast replay will be available at this site approximately one hour following the live broadcast and will continue to be available for approximately 30 days following the conference call. Investors and interested parties can also access the conference call by pre-registering here.
FORWARD LOOKING STATEMENTS
This document includes “forward-looking statements,” as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included or incorporated in this document could be deemed forward-looking statements, particularly statements about the future financial performance of onsemi, including financial guidance for the first fiscal quarter of 2026. Forward-looking statements are often characterized by the use of words such as “believes,” “estimates,” “expects,” “projects,” “may,” “will,” “intends,” “plans,” “anticipates,” “should” or similar expressions or by discussions of strategy, plans or intentions. All forward-looking statements in this document are made based on our current expectations, forecasts, estimates and assumptions and involve risks, uncertainties, and other factors that could cause results or events to differ materially from those expressed in the forward-looking statements. Certain factors that could affect our future results or events are described under Part I, Item 1A “Risk Factors” in our 2025 Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on February 9, 2026 (our “2025 Form 10-K”), and from time-to-time in our other SEC reports (including in our 2025 Form 10-K). Readers are cautioned not to place undue reliance on forward-looking statements. We assume no obligation to update such information, except as may be required by law. Investing in our securities involves a high degree of risk and uncertainty, and you should carefully consider the trends, risks, and uncertainties described in this document, our 2025 Form 10-K and other reports filed with or furnished to the SEC before making any investment decision with respect to our securities. If any of these trends, risks, or uncertainties actually occurs or continues, our business, financial condition or operating results could be materially adversely affected, the trading prices of our securities could decline, and you could lose all or part of your investment. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement.
FINANCIALS
