DIOD vs. ON

Last updated Apr 1, 2026

Compare and contrast key facts about Diodes Incorporated (DIOD) and ON Semiconductor Corporation (ON).

Performance

DIOD vs. ON - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Diodes Incorporated (DIOD) and ON Semiconductor Corporation (ON). The values are adjusted to include any dividend payments, if applicable.

DIOD vs. ON - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIOD Diodes Incorporated	38.35%	-19.99%	-23.41%	5.75%	-30.66%	55.76%	25.07%	74.74%	12.52%	11.69%
ON ON Semiconductor Corporation	14.35%	-14.12%	-24.52%	33.93%	-8.17%	107.52%	34.25%	47.67%	-21.16%	64.11%

Fundamentals

Market Cap DIOD : $3.16B ON : $24.91B
EPS DIOD : $1.43 ON : $0.29
PE Ratio DIOD : 47.87 ON : 210.64
PS Ratio DIOD : 2.14 ON : 4.25
PB Ratio DIOD : 1.68 ON : 3.25
Total Revenue (TTM) DIOD : $1.48B ON : $6.00B
Gross Profit (TTM) DIOD : $462.44M ON : $1.98B
EBITDA (TTM) DIOD : $191.47M ON : $639.00M

Returns By Period

In the year-to-date period, DIOD achieves a 38.35% return, which is significantly higher than ON's 14.35% return. Over the past 10 years, DIOD has underperformed ON with an annualized return of 12.86%, while ON has yielded a comparatively higher 20.37% annualized return.

DIOD

• 1D: 6.11%
• 1M: 0.04%
• YTD: 38.35%
• 6M: 28.28%
• 1Y: 58.12%
• 3Y*: -9.72%
• 5Y*: -3.75%
• 10Y*: 12.86%

ON

• 1D: 11.25%
• 1M: -6.86%
• YTD: 14.35%
• 6M: 25.57%
• 1Y: 52.17%
• 3Y*: -9.06%
• 5Y*: 7.62%
• 10Y*: 20.37%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

DIOD vs. ON — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DIOD

DIOD Risk / Return Rank: 75
DIOD Sharpe Ratio Rank: 74
DIOD Sortino Ratio Rank: 73
DIOD Omega Ratio Rank: 73
DIOD Calmar Ratio Rank: 78
DIOD Martin Ratio Rank: 77

ON

ON Risk / Return Rank: 72
ON Sharpe Ratio Rank: 73
ON Sortino Ratio Rank: 70
ON Omega Ratio Rank: 69
ON Calmar Ratio Rank: 76
ON Martin Ratio Rank: 71

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DIOD vs. ON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Diodes Incorporated (DIOD) and ON Semiconductor Corporation (ON). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	DIOD	ON	Difference
Sharpe ratio Return per unit of total volatility	0.99	0.89	+0.10
Sortino ratio Return per unit of downside risk	1.73	1.57	+0.16
Omega ratio Gain probability vs. loss probability	1.23	1.21	+0.03
Calmar ratio Return relative to maximum drawdown	2.10	1.82	+0.27
Martin ratio Return relative to average drawdown	5.12	3.61	+1.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DIOD vs. ON - Sharpe Ratio Comparison

The current DIOD Sharpe Ratio is 0.99, which is comparable to the ON Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of DIOD and ON, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DIOD	ON	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.99	0.89	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.08	0.15	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	0.41	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.06	+0.23

Correlation

The correlation between DIOD and ON is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

DIOD vs. ON - Dividend Comparison

Neither DIOD nor ON has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

DIOD vs. ON - Drawdown Comparison

The maximum DIOD drawdown since its inception was -90.09%, smaller than the maximum ON drawdown of -96.22%. Use the drawdown chart below to compare losses from any high point for DIOD and ON.

Drawdown Indicators

	DIOD	ON	Difference
Max Drawdown Largest peak-to-trough decline	-90.09%	-96.22%	+6.13%
Max Drawdown (1Y) Largest decline over 1 year	-27.44%	-28.10%	+0.66%
Max Drawdown (5Y) Largest decline over 5 years	-69.52%	-70.44%	+0.92%
Max Drawdown (10Y) Largest decline over 10 years	-69.52%	-70.44%	+0.92%
Current Drawdown Current decline from peak	-39.28%	-42.71%	+3.43%
Average Drawdown Average peak-to-trough decline	-33.44%	-53.49%	+20.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.24%	14.20%	-2.96%

Volatility

DIOD vs. ON - Volatility Comparison

Diodes Incorporated (DIOD) and ON Semiconductor Corporation (ON) have volatilities of 17.52% and 17.74%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIOD	ON	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.52%	17.74%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	43.36%	35.17%	+8.19%
Volatility (1Y) Calculated over the trailing 1-year period	58.83%	58.93%	-0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.36%	51.92%	-6.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.68%	50.28%	-7.60%

Financials

DIOD vs. ON - Profitability Comparison

The chart below illustrates the profitability comparison between Diodes Incorporated and ON Semiconductor Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

DIOD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Diodes Incorporated reported a gross profit of 121.93M and revenue of 391.58M. Therefore, the gross margin over that period was 31.1%.

ON - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, ON Semiconductor Corporation reported a gross profit of 551.00M and revenue of 1.53B. Therefore, the gross margin over that period was 36.0%.

DIOD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Diodes Incorporated reported an operating income of 13.21M and revenue of 391.58M, resulting in an operating margin of 3.4%.

ON - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, ON Semiconductor Corporation reported an operating income of 200.10M and revenue of 1.53B, resulting in an operating margin of 13.1%.

DIOD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Diodes Incorporated reported a net income of 10.20M and revenue of 391.58M, resulting in a net margin of 2.6%.

ON - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, ON Semiconductor Corporation reported a net income of 181.80M and revenue of 1.53B, resulting in a net margin of 11.9%.