Arm Holdings
ARM Β· Semiconductors
$210.33
οΏ½οΏ½ON Semiconductor
ON Β· Semiconductors
$72.25
1.3%The short version
- ON Semiconductor is the larger business, with $6.0B of revenue in fiscal 2025 against $4.9B for Arm Holdings.
- Arm Holdings grew revenue faster (22.8%, against β15.4%).
- Arm Holdings kept more of each dollar of sales as operating profit (18.3% operating margin, against 1.4% operating margin).
- ON Semiconductor turned more of its sales into free cash flow (23.7% FCF margin, against 19.9% FCF margin).
| Latest fiscal year | ARM Β· FY26 | ON Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $224.6B | $29.2B |
| Revenue | $4.9B | $6.0B |
| Free cash flow | $979M | $1.4B |
| Net income | $904M | $121M |
| Growth | ||
| Revenue growth | 22.8% | β15.4% |
| 5-year growth | β | 2.7% |
| Share count change | 0.5% | β4.8% |
| Profitability | ||
| Gross margin | 97.5% | 33.1% |
| Operating margin | 18.3% | 1.4% |
| Net margin | 18.4% | 2.0% |
| FCF margin | 19.9% | 23.7% |
| Return on capital | β | 0.9% |
| Return on equity | 12.0% | 1.5% |
| Balance sheet | ||
| Net debt | β | $457M |
| Net debt / EBITDA | β | 0.6x |
| Dividends and buybacks | $0.0M | $1.4B |
| Valuation & quality | ||
| P/E | β | 46.6x |
| Piotroski F-score | β | 5 |
FY17
ARM β
ON $5.5B
FY18
ARM β
ON $5.9B
FY19
ARM β
ON $5.5B
FY20
ARM β
ON $5.3B
FY21
ARM β
ON $6.7B
FY22
ARM $2.7B
ON $8.3B
FY23
ARM $2.7B
ON $8.3B
FY24
ARM $3.2B
ON $7.1B
FY25
ARM $4.0B
ON $6.0B
FY26
ARM $4.9B
ON β
ARM
ON
FY17
ARM β
ON 12.3%
FY18
ARM β
ON 14.4%
FY19
ARM β
ON 7.8%
FY20
ARM β
ON 6.6%
FY21
ARM β
ON 19.1%
FY22
ARM 23.4%
ON 28.3%
FY23
ARM 25.1%
ON 30.8%
FY24
ARM 3.4%
ON 25.0%
FY25
ARM 20.7%
ON 1.4%
FY26
ARM 18.3%
ON β
ARM
ON
FY17
ARM β
ON $707M
FY18
ARM β
ON $759M
FY19
ARM β
ON $160M
FY20
ARM β
ON $501M
FY21
ARM β
ON $1.3B
FY22
ARM $424M
ON $1.6B
FY23
ARM $675M
ON $438M
FY24
ARM $998M
ON $1.2B
FY25
ARM $178M
ON $1.4B
FY26
ARM $979M
ON β
ARM
ON
FY17
ARM β
ON 14.1%
FY18
ARM β
ON 14.0%
FY19
ARM β
ON 6.0%
FY20
ARM β
ON 5.7%
FY21
ARM β
ON 17.9%
FY22
ARM β
ON 29.1%
FY23
ARM β
ON 28.7%
FY24
ARM β
ON 16.9%
FY25
ARM β
ON 0.9%
FY26
ARM β
ON β
ARM
ON
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