onsemi sets new revenue records in latest fiscal report
24 November 2021
News
With the announcement of its fourth-quarter and annual financial results, onsemi achieved records for its fiscal-year revenue – $6,74 billion for 2021, representing 28,3% year-over-year growth – as well as for its fourth quarter with revenue of $1,85 billion. Earnings per share were $0,96 for the fourth quarter and a very healthy $2,27 for the year.
“Our disciplined execution on transformation initiatives in 2021 resulted in record financial performance and achievement of our financial targets ahead of the stated timeline,” said Hassane El-Khoury, president and CEO of onsemi. Revenue for 2021 grew 28.3%. Operating income and free cash flow increased 6 times faster than the revenue as we focus our portfolio on secular megatrends of electric vehicles, ADAS, alternative energy and industrial automation. We continue to expand gross margins as we shift our mix into these high-value strategic markets while ramping new products, rationalising our manufacturing footprint and improving our overall cost structure.”
Looking to the future, he added that the company’s outlook remains robust as evidenced by over 60% year-over-year growth in its design-win funnel, driven by its highly differentiated intelligent power and sensing portfolio.
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