Is NTAP or ON cheaper?

On trailing earnings, NTAP is cheaper: NTAP trades at a 26.01 P/E and ON at 66.52.

Which has grown faster, NTAP or ON?

Over the past five years, NTAP grew revenue faster — NTAP at a 4.18% CAGR versus ON at 2.12%.

Does NTAP or ON pay a bigger dividend?

NTAP pays a dividend (1.26% yield) while ON does not currently pay one.

Is NTAP or ON more profitable?

NTAP runs the higher net margin — NTAP at 18.43% versus ON at 9.46%.

Which has been the better investment, NTAP or ON?

Over the past 10-year, ON delivered the higher annualized total return — NTAP at 24.09% versus ON at 26.54%. Past performance doesn't predict future results.

NetApp, Inc. (NTAP) vs ON Semiconductor Corporation (ON)

NTAP leads on 12 of 15 compared metrics.

A side-by-side comparison of NetApp, Inc. and ON Semiconductor Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of July 9, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).

ON Semiconductor Corporation

$38.09B

$97.87Technology

Total return — NTAP vs ON

growth of $100 · last 26y

NTAP +133.0%ON +290.8%ON compounded faster

NTAP ON

NTAP vs ON: by the numbers

•ON is the larger company ($38.09B vs $33.65B market cap).
•NTAP trades at the lower earnings multiple (26.01 vs 66.52 P/E).
•NTAP converts more revenue to profit (18.43% vs 9.46% net margin).
•NTAP grew revenue faster over the past five years (4.18% vs 2.12% CAGR).
•NTAP pays a dividend (1.26% yield) while ON does not currently pay one.

Which is better, NTAP or ON?

Metric tally: NTAP 12 · ON 3

It depends on what you're optimizing for:

ValueNTAP(lower P/E)

GrowthNTAP(faster 5Y revenue CAGR)

QualityNTAP(higher ROIC)

Metrics side by side

Valuation

Metric	NTAP	ON
P/E ratio	26.01●	66.52
Forward P/E	20.72●	30.42
P/S ratio	4.75●	6.10
P/B ratio	24.36	5.06●
PEG ratio	1.58	—
EV / EBITDA	17.96●	32.02
FCF yield	5.68%●	3.93%

Profitability

Metric	NTAP	ON
Gross margin	70.74%●	37.22%
Operating margin	24.12%●	10.84%
Net margin	18.43%●	9.46%
ROE	94.45%●	7.86%
ROIC	19.40%●	6.24%

Dividends

Metric	NTAP	ON
Dividend yield	1.26%	—
Payout ratio	32.35%	—

Growth (annualized)

Metric	NTAP	ON
Revenue CAGR (5Y)	4.18%●	2.12%
EPS CAGR (5Y)	10.39%●	-12.64%
FCF CAGR (5Y)	12.50%	23.39%●
Total return CAGR (5Y)	17.75%	20.63%●

Frequently asked

Which is better, NTAP or ON?: It depends on your goal. value: NTAP (lower P/E); growth: NTAP (faster 5Y revenue CAGR); quality: NTAP (higher ROIC). Across all compared metrics, NTAP leads 12 to 3.
Is NTAP or ON cheaper?: On trailing earnings, NTAP is cheaper: NTAP trades at a 26.01 P/E and ON at 66.52.
Which has grown faster, NTAP or ON?: Over the past five years, NTAP grew revenue faster — NTAP at a 4.18% CAGR versus ON at 2.12%.
Does NTAP or ON pay a bigger dividend?: NTAP pays a dividend (1.26% yield) while ON does not currently pay one.
Is NTAP or ON more profitable?: NTAP runs the higher net margin — NTAP at 18.43% versus ON at 9.46%.
Which has been the better investment, NTAP or ON?: Over the past 10-year, ON delivered the higher annualized total return — NTAP at 24.09% versus ON at 26.54%. Past performance doesn't predict future results.

Go deeper

Full NTAP analysis Full ON analysis Interactive comparison tool

Dig into the metrics

NetApp P/E ratio ON Semiconductor P/E ratio NetApp dividend yield ON Semiconductor dividend yield NetApp ROE ON Semiconductor ROE NetApp operating margin ON Semiconductor operating margin NetApp revenue growth ON Semiconductor revenue growth NetApp free cash flow ON Semiconductor free cash flow

NetApp & ON Semiconductor appear in these rankings

Highest ROE Stocks Highest ROIC Stocks Highest FCF Yield Stocks Best 10-Year Total Return Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified July 9, 2026.