ON’s 16% One Month Pop Begs The Question: Is QCOM Better Instead?

July 22nd, 2025 by Trefis Team
ON: ON Semiconductor logo
ON
ON Semiconductor

QCOM offers superior revenue growth across key periods, better profitability, and relatively lower valuation.

  • QCOM’s quarterly revenue grew 16.9%, vs. ON’s -22.4%.
  • In addition, its Last 12 Months growth came in at 16.1%, ahead of ON’s -18.3%.
  • QCOM’s LTM margin is higher – 27.2% vs. ON’s 20.1%.

That is one way to look at stocks. Trefis High Quality Portfolio evaluates much more, and is designed to reduce stock-specific risk while giving upside exposure

Valuation & Performance Overview

  ON QCOM Preferred
     
Valuation      
P/EBIT Ratio 19.0 15.3 QCOM
     
Revenue Growth      
Last Quarter -22.4% 16.9% QCOM
Last 12 Months -18.3% 16.1% QCOM
Last 3 Year Average -1.6% 3.1% QCOM
     
Margins      
Last 12 Months 20.1% 27.2% QCOM
Last 3 Year Average 28.0% 26.9% ON
     
Momentum      
Last 3 Year Return -1.0% 9.3% QCOM

Historical Market Performance

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  2020 2021 2022 2023 2024 2025 Total [1] Avg Best
Returns
ON Return 34% 108% -8% 34% -25% -6% 142% <===
QCOM Return 77% 22% -39% 35% 8% 0% 98%  
S&P 500 Return 16% 27% -19% 24% 23% 7% 94%  
Monthly Win Rates [3]
ON Win Rate 75% 83% 42% 67% 33% 33%   56%  
QCOM Win Rate 67% 58% 33% 50% 33% 33%   46%  
S&P 500 Win Rate 58% 75% 42% 67% 75% 50%   61% <===
Max Drawdowns [4]
ON Max Drawdown -65% -0% -31% -4% -27% -49%   -30%  
QCOM Max Drawdown -30% -19% -42% -6% -6% -18%   -20%  
S&P 500 Max Drawdown -31% -1% -25% -1% -2% -15%   -12% <===

[1] Cumulative total returns since the beginning of 2020
[2] 2025 data is for the year till date (YTD)
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year