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Stock Comparison · Structural lead, mixed market

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

ON Semiconductor holds the cleaner structural position, with the lead spread across profitability and valuation. Westlake still has the edge on valuation, which keeps the comparison from looking entirely one-sided. On the market side, ON Semiconductor is in better shape — its trend is intact while Westlake's trend has broken down. That puts structure and market broadly in agreement — ON Semiconductor's lead looks more confirmed than conflicted.

The comparison is based on similar long-term financial trajectories, not sector labels. Both peer scores are relative to the Russell 1000 universe, making them directly comparable.

Updated 2026-05-17

This is not just a one-metric split: both profitability and growth materially support the lead. The overall score gap is 8 points in favour of ON Semiconductor Corporation.

Trajectory Similarity
0.69
Moderately similar
Peer-set rank: #9
within ON Semiconductor Corporation's functional peer set

This pair is matched through long-term financial trajectory similarity within the selected peer universe.

This level of similarity points to a meaningful structural match, though not a tight one.

The clearest structural overlap shows up in margin trend and revenue growth trajectory.

Similarity drivers
margin trendrevenue growth trajectory
How to read the score
0.85–1.00 · Very similar0.70–0.84 · Similar0.55–0.69 · Moderately similarbelow 0.55 · Loose match
Peer-Relative Score
ON
ON Semiconductor Corporation
45
Peer-Score
Signal qualitylow
Peer basis: Russell 1000
vs
WLK
Westlake Corporation
37
Peer-Score
Signal qualitylow
Peer basis: Russell 1000

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: ON vs WLK Profitability 61 10 Stability 35 39 Valuation 30 76 Growth 51 16 ON WLK
Gap Ranking
#1 Profitability +51
#2 Valuation +46
#3 Growth +35
#4 Stability +4
Price Setup

Left means cheaper relative valuation. Higher means stronger structure.

Price setup map for ON and WLK Stronger + cheaper Stronger + richer Weaker + cheaper Weaker + richer ONWLK Relative valuation Structural strength

ON Semiconductor Corporation is stronger, but the price setup still looks more supportive for Westlake Corporation.

Valuation position uses peer-relative PE percentile (idx_pct_pe) and Forward P/E where available.

Entry today — historical context

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

BASED ON 5-YEAR HISTORY ON Elevated · above norm 0th 50th 100th 72 pct gap WLK Lower · near norm 0th 50th 100th 99th 27th
Today WLK sits in the lower-middle of its own 5-year history (27th percentile), while ON sits higher in its own history (99th). Within each stock's own 5-year context, WLK 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
Profitability
On profitability, ON Semiconductor Corporation is positioned higher in the group, while Westlake Corporation is closer to the middle.
Valuation
On valuation, Westlake Corporation ranks near the top of the group; ON Semiconductor Corporation sits in the weaker half.
Profitability — Dominant Gap
ON
61
WLK
10
Gap+51in favour of ON

The profitability lead is mainly driven by a 24-point operating margin advantage.

What keeps the gap from being one-sided

Absolute pricing still looks more supportive for Westlake, with a forward P/E that is 3.7 turns lower there.

What this means for the comparison

Profitability settles the comparison, while pricing and valuation keep the broader setup from looking fully aligned.

Explore full peer positioning in AssetNext

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

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Other comparisons with conflicting dimension signals

Explore how ON and WLK 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.