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WOLF
Wolfspeed, Inc. · Technology - Silicon Carbide Semiconductors
$57.41
-2.41% this month
VERSUS
⟷
COMPARE
ON
onsemi (ON Semiconductor) · Technology - Power Semiconductors
$121.62
+14.71% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
WOLF
1
ON
2
Comparison scoreboard
ON LEADS 2/5AI Score
WOLF 38.5
ON ✓61.4
1Y Return
WOLF N/A
ON +129.73%
Fwd P/E
WOLF ✓-11.47
ON 27.38
Target Up.
WOLF -30.33%
ON ✓-8.97%
Op. Margin
WOLF N/A
ON 18.23%
Metrics last refreshed: 6/20/2026
Quick take
WOLF vs ON Stock Comparison: AI Score, Valuation, Performance and Upside
WOLF (Wolfspeed) and ON (onsemi) are both leading SiC power semiconductor companies positioning for the EV drivetrain market — Wolfspeed is the pure-play SiC pioneer with the deepest material science expertise but faces financing and scale risks, while onsemi is a larger diversified automotive semiconductor company with significant SiC expansion and additional automotive ADAS image sensor revenue providing better financial stability.
WOLF vs ON is pure-play SiC pioneer going all-in (Wolfspeed's bet that SiC specialization will win as EVs dominate drivetrain power, despite significant execution and financing risk during capacity ramp) versus diversified automotive chip leader with strong SiC position (onsemi's balanced portfolio of SiC for EV powertrains and image sensors for ADAS providing multiple automotive semiconductor revenue streams with better financial stability) — focused bet versus diversified automotive semiconductor.
Live analysis · updated 6/20/2026
ON holds the edge across 2 of 5 key metrics in this comparison. Analyst consensus implies meaningfully more upside for ON (-8.97%) than for WOLF (-30.33%).
Normalized 1Y performance
WOLF
ON
Recent returns
WOLF
ON
Analyst price targets & sentiment
WOLF · 1 analysts
Price target range
analyst low$40.00
analyst high$40.00
analyst mean$40.00
current price$57.41
-30.3% upside to analyst mean
ON · 29 analysts
Price target range
analyst low$33.00
analyst mean$106.31
current price$121.62
-9.0% upside to analyst mean
Who should consider this stock?
WOLF may suit investors who:
- →Want maximum pure-play SiC exposure — Wolfspeed's entire business is focused on SiC technology, providing the highest sensitivity to SiC adoption acceleration in EV inverters and industrial power conversion
- →Value Wolfspeed's pioneering technology heritage and decades of SiC manufacturing know-how as creating durable technical advantages in SiC crystal quality and device performance
- →Accept significant execution risk, cash burn, and financing uncertainty as the price of the most concentrated SiC semiconductor bet
ON may suit investors who:
- →Want automotive semiconductor exposure across both SiC drivetrain chips and ADAS image sensors — onsemi serves multiple automotive technology trends without pure-play concentration risk
- →Value onsemi's stronger financial position and cash generation as enabling sustained SiC investment without the financing risk that burdens Wolfspeed's pure-play expansion
- →Prefer onsemi's combination of current profitability and SiC growth optionality versus the higher risk-reward profile of Wolfspeed's pure-play capacity expansion bet
Performance & AI score
| Metric | WOLF | ON |
|---|---|---|
| AI score | 38.5 | 61.4 |
| AI rank | #1272 | #138 |
| Latest close | $57.41 | $121.62 |
| 1M return | -2.41% | +14.71% |
| 6M return | +234.75% | +128.05% |
| 1Y return | N/A | +129.73% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | WOLF | ON |
|---|---|---|
| 1Y ago | $25.98K (+159.8%) started 2025-09-29 | $23.27K (+132.7%) started 2025-06-18 |
| 5Y ago | $25.98K (+159.8%) started 2025-09-29 | $33.33K (+233.3%) started 2021-06-21 |
| 10Y ago | $25.98K (+159.8%) started 2025-09-29 | $124.36K (+1143.6%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | WOLF | ON |
|---|---|---|
| Market cap | $2.98B | $45.41B |
| Trailing P/E | N/A | 86.51 |
| Forward P/E | -11.47 | 27.38 |
| Price/Sales | 4.19 | 3.15 |
| EV/Revenue | 3.99 | 7.69 |
| Analyst target | $40.00 | $106.31 |
| Target upside | -30.33% | -8.97% |
Growth, profitability & risk
| Metric | WOLF | ON |
|---|---|---|
| Revenue growth | -19.00% | 4.70% |
| Earnings growth | N/A | -48.70% |
| EPS growth | N/A | -48.70% |
| FCF margin | +10.77% | +21.15% |
| Operating margin | N/A | 18.23% |
| Profit margin | -72.93% | 9.46% |
| ROIC proxy | -84.19% | 7.49% |
| Return on equity | -84.19% | 7.49% |
| Dividend yield | 0.00% | N/A |
| Beta | 6.09 | 1.98 |
| Debt/equity | 179.16 | 44.34 |
| Current ratio | 7.03 | 4.87 |
| Quick ratio | 5.51 | 2.80 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
WOLF max drawdown58.22%
ON max drawdown28.10%
WOLF max wkly drop36.70%
ON max wkly drop19.08%
5Y risk snapshot
WOLF max drawdown58.22%
ON max drawdown70.44%
WOLF max wkly drop36.70%
ON max wkly drop26.38%
10Y risk snapshot
WOLF max drawdown58.22%
ON max drawdown70.44%
WOLF max wkly drop36.70%
ON max wkly drop43.93%
Performance metrics by period
| Period | Metric | WOLF | ON |
|---|---|---|---|
| 1Y | Growth | +159.77% | +132.72% |
| CAGR | +278.43% | +133.00% | |
| Sharpe ratio | 1.64 | 1.73 | |
| Max drawdown | 58.22% | 28.10% | |
| Max daily drop | 18.22% | 15.58% | |
| Max wkly drop | 36.70% | 19.08% | |
| 5Y | Growth | +159.77% | +233.30% |
| CAGR | +278.43% | +27.27% | |
| Sharpe ratio | 1.64 | 0.64 | |
| Max drawdown | 58.22% | 70.44% | |
| Max daily drop | 18.22% | 21.77% | |
| Max wkly drop | 36.70% | 26.38% | |
| 10Y | Growth | +159.77% | +1143.56% |
| CAGR | +278.43% | +28.69% | |
| Sharpe ratio | 1.64 | 0.66 | |
| Max drawdown | 58.22% | 70.44% | |
| Max daily drop | 18.22% | 26.84% | |
| Max wkly drop | 36.70% | 43.93% |
Business comparison
| Category | WOLF | ON |
|---|---|---|
| Company | Wolfspeed, Inc. | onsemi (ON Semiconductor) |
| Sector | Technology - Silicon Carbide Semiconductors | Technology |
| Industry | N/A | Semiconductors |
| Core business | Wolfspeed is a pure-play silicon carbide (SiC) semiconductor company — designing and manufacturing SiC wafers, SiC power MOSFETs (switching transistors), and SiC Schottky diodes used in EV inverters, EV charging infrastructure, industrial motor drives, solar inverters, and other power conversion applications. Wolfspeed also manufactures gallium nitride (GaN) transistors for RF/wireless applications. Wolfspeed was spun out of Cree Inc. when Cree's LED business was renamed Cree Lighting. | onsemi is a power and sensing semiconductor company — making SiC power MOSFETs for EV inverters, silicon power management chips for industrial and automotive applications, image sensors for automotive ADAS cameras, and analog/mixed-signal components. onsemi has made SiC power technology a strategic priority, investing in internal SiC wafer production (acquiring GT Advanced Technologies' SiC crystal growth business) to become vertically integrated in SiC. |
| Investor focus | Investors track Wolfspeed's SiC device revenue, design wins at automotive customers, utilization rates at its new North Carolina (Mohawk Valley) SiC wafer fab, gross margin trajectory toward profitability, and cash burn as the company funds massive SiC manufacturing capacity expansion. | Investors track onsemi's automotive segment revenue (the largest and fastest-growing), SiC revenue growth as EV adoption accelerates, silicon image sensor volume for ADAS cameras, gross margin sustainability, and the competitive dynamics of the SiC market as multiple companies expand capacity. |
WOLF strengths
- →Pioneer in SiC technology with deepest expertise — Wolfspeed invented commercially viable SiC semiconductors and has more decades of SiC manufacturing experience than any competitor; this history creates process know-how that is difficult for new entrants to replicate
- →Vertical integration from SiC crystal growth to devices — Wolfspeed produces its own SiC crystal boules, cuts them into wafers, and then processes wafers into finished power devices; this vertical integration controls quality and could eventually provide cost advantages
- →Automotive design wins with leading EV OEMs — Wolfspeed has secured long-term supply agreements with major automotive customers for SiC devices used in EV main inverters
ON strengths
- →Diversified automotive semiconductor portfolio combining SiC and ADAS image sensors — onsemi serves EV drivetrain customers with SiC and ADAS camera customers with image sensors, giving it multiple revenue streams tied to automotive electrification and autonomy
- →Better financial position than Wolfspeed — onsemi's larger and diversified revenue base generates cash flow that funds SiC expansion without the extreme cash burn risk that burdens Wolfspeed's pure-play model
- →Vertical SiC integration through acquisition — onsemi's acquisition of SiC crystal growth technology provides it with internal wafer supply to support its device business, reducing wafer supply dependency
Risks to watch — WOLF
- →Massive cash burn during capacity expansion — Wolfspeed is investing billions in new SiC fabs (Mohawk Valley in New York, planned facility in Germany); this expansion is consuming cash faster than current revenue generation, creating financing risk if capital markets tighten
- →SiC manufacturing scale challenges — SiC crystal growth and wafer processing are much harder than silicon; Wolfspeed has faced production yield and utilization challenges at its new Mohawk Valley fab as it ramps to volume
- →Intense competition from better-capitalized rivals — STMicroelectronics, onsemi, Infineon, and Bosch are all aggressively expanding SiC capacity; Wolfspeed's pure-play model means it must achieve scale while competing against larger diversified semiconductor companies
Risks to watch — ON
- →SiC revenue as a portion of total — while onsemi has meaningful SiC revenue, investors seeking maximum SiC exposure may prefer Wolfspeed's pure-play concentration
- →Silicon power semiconductor cyclicality — onsemi's non-SiC power semiconductor business (silicon MOSFETs, IGBTs) faces industrial and consumer demand cyclicality that can create revenue headwinds even when SiC is strong
- →Competition in automotive imaging — onsemi's image sensor business faces competition from Sony (dominant in mobile imaging), which also competes in automotive; Sony's scale advantages in image sensor technology and manufacturing are significant
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