Cerebras Systems Inc. (CBRS) vs ON Semiconductor Corporation (ON)

Cerebras Systems Inc. and ON Semiconductor Corporation are both Semiconductors companies. ON Semiconductor Corporation is the larger, with a market value of $28.5B against $24.4B — 1.2× the size. ON Semiconductor Corporation trades at the lower P/E: 46.3× against 49.4×. ON Semiconductor Corporation has the higher net margin (10.2% vs −63.9%) and the higher return on invested capital (5.33% vs −21.1%). Across the 15 metrics below, ON Semiconductor Corporation leads on 12 and Cerebras Systems Inc. on 3.

Valuation

Metric CBRS ON Semiconductors median
P/E 49.45 46.34 46.12
P/S 28.65 4.61 7.90
P/B 1.80 3.95 4.67
Price to free cash flow n/m 18.62 49.43
EV/EBITDA n/m 19.84 27.68
EV/Sales 15.73 4.71 7.24
Earnings yield 2.02% 2.16% 0.78%
Free cash flow yield (5.48%) 5.37% 0.68%

Profitability

Metric CBRS ON Semiconductors median
Gross margin 32.17% 37.72% 52.28%
Operating margin (100.27%) 10.81% 4.76%
Net margin (63.86%) 10.17% 4.26%
Free cash flow margin (157.07%) 24.76% 8.47%
Return on equity 0.00% 8.29% 3.62%
Return on assets (6.33%) 4.74% 1.78%
Return on invested capital (21.13%) 5.33% 2.23%

Growth

Metric CBRS ON Semiconductors median
Revenue growth (TTM) — (3.14%) 16.66%
EPS growth (last fiscal year) — (92.01%) 26.67%
Revenue growth, 5-year CAGR — 2.67% 5.60%
Net income growth, 5-year CAGR — (12.37%) 0.00%

Health

Metric CBRS ON Semiconductors median
Debt to equity 0.13 0.62 0.05
Current ratio 5.82 3.46 3.22
Net debt to EBITDA — 0.58 0.53

Dividend

Metric CBRS ON Semiconductors median
Dividend yield — — 1.23%
Payout ratio — — 0.40

Size

Metric CBRS ON Semiconductors median
Market cap 24.39b 28.51b 5.99b

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