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ON Semiconductor vs Skyworks Solutions: Which Stock Looks Stronger in 2026?

Structurally, ON Semiconductor and Skyworks Solutions are closely matched — neither holds a meaningful edge overall. Skyworks Solutions still has the edge on valuation, which keeps the comparison from looking entirely one-sided. 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

Growth points more clearly toward ON Semiconductor Corporation, while the broader score stays level overall.

INDUSTRY COMPARISON

Both operate in: Semiconductors

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

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

Peer-Relative Score
ON
ON Semiconductor Corporation
46
Peer-Score
Signal qualitylow
Peer basis: S&P 500
vs
SWKS
Skyworks Solutions, Inc.
46
Peer-Score
Signal qualityMedium
Peer basis: S&P 500

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

The clearest separation appears in growth.

Dimension spread: ON vs SWKS Profitability 55 62 Stability 27 20 Valuation 40 55 Growth 62 32 ON SWKS
Gap Ranking
#1 Growth +30
#2 Valuation +15
#3 Profitability +7
#4 Stability +7
Price Setup

Left means cheaper relative valuation. Higher means stronger structure.

Price setup map for ON and SWKS Stronger + cheaper Stronger + richer Weaker + cheaper Weaker + richer ONSWKS Relative valuation Structural strength

The setup splits cleanly: structure favours ON Semiconductor Corporation, while the price setup favours Skyworks Solutions, Inc..

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

Entry today — historical context

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

BASED ON 5-YEAR HISTORY ON Elevated · above norm 0th 50th 100th 59 pct gap SWKS Lower · above norm 0th 50th 100th 84th 24th
Today SWKS sits in the lower portion of its own 5-year history (24th percentile), while ON sits higher in its own history (84th). Within each stock's own 5-year context, SWKS is at a historically more favourable entry position than ON. 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
Growth
On growth, ON Semiconductor Corporation is positioned higher in the group, while Skyworks Solutions, Inc. is closer to the middle.
Valuation
Both rank well on valuation, but Skyworks Solutions, Inc. still sits higher.
Growth — Dominant Gap
ON
62
SWKS
32
Gap+30in favour of ON

One company is still expanding while the other is contracting, which creates a very wide growth split.

What keeps the gap from being one-sided

Absolute pricing still looks more supportive for Skyworks Solutions, with a forward P/E that is 2.6 turns lower there.

What this means for the comparison

Growth provides the clearer read here, while the broader score remains level.

Explore full peer positioning in AssetNext

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

Explore full breakdown →
Similar growth-driven comparisons

Explore how ON and SWKS 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.