Revenue Analysis

Total Revenue has fluctuated over the three-year period. The most recent quarter in 2024 shows a Total Revenue of $1,862,700,000, which is a decline from the previous periods in 2023 (as high as $2,180,800,000 in September). However, over the quarters, a seasonal ebbing is apparent, peaking during the mid-year.

Operating Revenue has remained consistent with the Total Revenue figures, indicating that the majority of the company’s revenue is generated from its principal operating activities.

Gross Profit Margins show improvement in the most recent reported quarter at $853,600,000 compared to $941,900,000 from the highest point in December 2023. This suggests a tighter control over the cost of goods sold or a better pricing strategy.

Cost Management

Cost of Revenue has been managed more effectively in the March 2024 period at $1,009,100,000, down from a peak of $1,150,100,000 in September 2023.

Operating Expenses saw an uptick in March 2024 at $327,000,000 compared to previous quarters, suggesting increased investment in operations possibly tying into strategic moves.

Total Expenses trend shows some alignment with revenue changes, with a notable increase during periods where revenue peaks, particularly notable in September 2023 and decreasing through to March 2024.

Profitability Analysis

EBITDA has had a decline from $869,100,000 in September to $708,700,000 in March 2024, possibly indicating increasing cost pressures or reduced operational efficiency.

Operating Income has followed a similar trend to EBITDA, peaking at $696,400,000 in September 2023 then moving to $526,600,000 by March 2024.

Pretax Income shows considerable fluctuation with a high of $697,500,000 in September 2023 slightly the falling to $538,200,000 in March 2024.

Net Income figures have seen a decline from $582,900,000 in September 2023 to $453,000,000 in March 2024, underlining the trends seen in other profitability measures.

Cash Flow Indicators

Reconciled Depreciation figures have been fairly stable, showing slight variances but staying within the $145,000,000 to $160,300,000 range across these periods.

Interest Expense has been managed around the $16,000,000 mark, reflecting a consistent cost handling in financial management.

Taxation

Tax Rate has varied across the periods, noted from Tax Rate For Calcs, fluctuating less notably and generally trending downwards.

Tax Provision sees substantial variation, in line with the pre-tax income changes, ranging from $83,700,000 to $114,600,000.

Tax Effect Of Unusual Items shows instances of significant impact, particularly in Q1 2023 where it encountered a $10,104,103 deduction.

Shareholder Metrics

Diluted and Basic EPS have remained relatively stable, running between 1.03 to 1.34 over these periods. This suggests consistent shareholder returns in terms of earnings per share despite different operational challenges.

Average Shares have seen a slight increase over time, indicating potential dilution or capital expansion strategies.

Net Income Available to Common Stockholders closely mirrors the Net Income figures, affirming net earnings consistency.

Conclusion

ON has experienced some volatility in its financial performance, highlighted by fluxes in revenue, cost management and profit levels. Recent quarters have indicated some degree of tightening in revenue and profit measures, suggesting either external market pressures or planned investment for future growth. Despite these challenges, EPS remains consistently delivered, which may comfort current investors but for prospective investors, careful attention to upcoming financial quarters will be essential to assess the direction of ON’s financial health.