Home Compare NVDA vs ON
Stock Comparison · Industry comparison · Semiconductors

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

NVIDIA holds the cleaner structural position, with the lead spread across valuation and stability. ON Semiconductor does not offset that deficit through any equally strong structural edge elsewhere. The market setup is broadly comparable for both — no clear directional signal from price behavior. 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 2026-07-05

This is not just a one-metric split: both valuation and stability materially support the lead. The overall score gap is 29 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
70
Peer-Score
Signal qualitylow
Peer basis: S&P 500
vs
ON
ON Semiconductor Corporation
41
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 75 53 Stability 54 23 Valuation 69 35 Growth 78 50 NVDA ON
Gap Ranking
#1 Valuation +34
#2 Stability +31
#3 Growth +28
#4 Profitability +22
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 4 pct gap ON Elevated · above norm 0th 50th 100th 96th 92nd
NVDA (96th percentile) and ON (92nd percentile) both sit in the upper portion of their own 5-year ranges. The historical entry context is broadly similar for both. This reflects entry timing, not which company is structurally stronger.

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

Relative Position vs Comparable Companies
Valuation
NVIDIA Corporation ranks near the top of the group on valuation; ON Semiconductor Corporation sits in the weaker half.
Stability
NVIDIA Corporation sits in the stronger part of the group on stability, while ON Semiconductor Corporation is closer to mid-pack.
Valuation — Dominant Gap
NVDA
69
ON
35
Gap+34in favour of NVDA

The multiple-based pricing edge comes from a forward P/E that is 5.9 turns lower.

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

The lead is built on both valuation and stability, making it broader than a single-dimension result.

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 valuation-and-stability 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.