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NVIDIA vs ON Semiconductor: Which Stock Looks Stronger in 2026?

NVIDIA holds the cleaner structural position, with stability as the main driver and profitability adding further support. ON Semiconductor does not offset that deficit through any equally strong structural edge elsewhere. The market setup is mixed, without a decisive signal in either direction. The market is not adding a decisive signal either way — the structural read carries the weight.

The comparison is based on similar long-term financial trajectories, not sector labels. Both peer scores are relative to the S&P 500 universe, making them directly comparable.

Updated 2026-08-16

This is not just a one-metric split: both stability and profitability materially support the lead. The overall score gap is 21 points in favour of NVIDIA Corporation.

INDUSTRY COMPARISON

Both operate in: Semiconductors

This comparison is based on industry proximity, not on functional trajectory similarity. NVDA and ON share the same industry classification.

For a similarity-based comparison, see how NVIDIA and ON Semiconductor each position within their functional peer groups in AssetNext.

Peer-Relative Score
NVDA
NVIDIA Corporation
67
Peer-Score
Signal qualitylow
Peer basis: S&P 500
vs
ON
ON Semiconductor Corporation
46
Peer-Score
Signal qualitylow
Peer basis: S&P 500

Scores reflect position relative to comparable companies with similar long-term financial trajectories.

The largest gaps do not all point in the same direction.

Dimension spread: NVDA vs ON Profitability 76 55 Stability 56 27 Valuation 60 40 Growth 77 62 NVDA ON
Gap Ranking
#1 Stability +29
#2 Profitability +21
#3 Valuation +20
#4 Growth +15
Price Setup

Left means cheaper relative valuation. Higher means stronger structure.

Price setup map for NVDA and ON Stronger + cheaper Stronger + richer Weaker + cheaper Weaker + richer NVDAON Relative valuation Structural strength

NVIDIA Corporation looks stronger both structurally and on relative valuation.

Valuation position uses peer-relative PE percentile (idx_pct_pe) where available.

Entry today — historical context

Where NVDA and ON each sit in their own 5-year price and valuation history.

BASED ON 5-YEAR HISTORY NVDA Elevated · below norm 0th 50th 100th 16 pct gap ON Elevated · above norm 0th 50th 100th 99th 84th
Today ON sits in the upper portion of its own 5-year history (84th percentile), while NVDA sits higher in its own history (99th). Within each stock's own 5-year context, ON is at a historically more favourable entry position than NVDA. This reflects entry timing, not which company is structurally stronger — peer-relative analysis is a separate question addressed above.

Describes historical entry positioning only. Descriptive — not investment advice.

Relative Position vs Comparable Companies
Stability
On stability, NVIDIA Corporation is positioned higher in the group, while ON Semiconductor Corporation is closer to the middle.
Profitability
Both rank well on profitability, but NVIDIA Corporation still sits higher.
Stability — Dominant Gap
NVDA
56
ON
27
Gap+29in favour of NVDA

The stability gap is wide, with the stronger side looking materially steadier through time.

What keeps the gap from being one-sided

ON Semiconductor Corporation still shows lower market-fundamental divergence, which keeps the wider picture mixed rather than completely one-sided.

What this means for the comparison

Stability is the clearest driver, and profitability also supports NVIDIA Corporation's broader structural position.

Explore full peer positioning in AssetNext

Break down the NVDA vs ON comparison across all dimensions with the full interactive tool.

Explore full breakdown →
Similar stability-and-profitability comparisons

Explore how NVDA and ON each compare against other companies in their peer groups.

Rule-based, descriptive analysis only. Derived from peer percentile dimensions. Not investment advice. Peer groups are determined algorithmically based on structural similarity — not by sector classification alone.

How AssetNext Peer Scores Work

AssetNext scores reflect each company's structural position within its functional peer group — not a ranking against all stocks simultaneously. Peers are identified by similarity across eight financial dimensions, including revenue growth trajectory, margin structure, capital intensity, and earnings stability. A score of 75 means the company ranks in the top quartile within its own peer group, not the entire market.

Four dimension scores drive the overall peer score: Growth (revenue trajectory and expansion dynamics), Quality (margin structure and capital efficiency), Valuation (peer-relative pricing on standard multiples), and Stability (earnings consistency and financial predictability). Each dimension is scored 0–100 relative to the peer group, then combined into an overall peer score using equal weighting.

Because scores are peer-relative, the same company can have slightly different scores in different index universes. On comparison pages, both companies are shown within their shared peer universe wherever possible — so the scores are directly comparable. The peer basis is stated on each score card.

Scores are recalculated periodically as underlying financial data is updated. All analysis is descriptive and rule-based — AssetNext describes structural realities and never issues buy, sell or hold recommendations.