LIVE
WOLF
Wolfspeed, Inc. · Technology
$57.41
-2.41% this month
VERSUS
⟷
COMPARE
ON
ON Semiconductor (onsemi) · Technology
$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
Wolfspeed and ON Semiconductor are competitors in the silicon carbide (SiC) power semiconductor market for EV traction inverters, but with very different financial profiles and strategic positions. Wolfspeed is an unprofitable pure-play SiC company with the world's largest SiC manufacturing capacity — betting everything on SiC adoption. Onsemi is a profitable diversified analog company pivoting to SiC as its primary growth driver while maintaining existing profitable businesses. Wolfspeed has higher SiC upside if utilization ramps; onsemi has much lower risk from broader diversification.
WOLF vs ON is the unprofitable pure-play SiC company with the largest SiC manufacturing capacity betting everything on EV adoption (Wolfspeed) versus the profitable diversified analog semiconductor company with strong SiC design wins de-risked by existing profitable automotive and industrial businesses (onsemi) — pure-play SiC speculation vs SiC growth within profitable platform.
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:
- →prefer maximum concentrated SiC upside if EV adoption accelerates and Wolfspeed's Mohawk Valley Fab achieves high utilization
- →value Wolfspeed's substrate supply chain position as potentially strategic if SiC wafer supply becomes a bottleneck for all SiC device manufacturers
- →want pure-play SiC speculation with the highest leverage to SiC semiconductor market growth at the cost of significant current losses and balance sheet risk
- →are comfortable with deep ongoing unprofitability, extreme cash burn during capacity ramp, and competitive pressure from onsemi and European SiC manufacturers
ON may suit investors who:
- →prefer profitable diversified analog company with SiC growth upside de-risked by existing automotive and industrial profitable businesses
- →value onsemi's design win momentum across multiple EV platforms with multi-year supply agreements providing revenue visibility
- →want SiC EV power semiconductor exposure with the financial stability of a profitable platform funding expansion from operating cash flow
- →are comfortable with SiC competition intensity, EV adoption rate risk, and onsemi's SiC substrate supply depending partly on external sourcing
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. | ON Semiconductor (onsemi) |
| Sector | Technology | Technology |
| Industry | N/A | Semiconductors |
| Core business | Wolfspeed is the world's largest silicon carbide (SiC) substrate manufacturer and SiC power device company. Wolfspeed is unique among SiC manufacturers in being the vertically integrated origin of the entire SiC supply chain — growing SiC crystal boules, cutting wafers, and producing SiC power MOSFETs and diodes. Wolfspeed's Mohawk Valley Fab in New York is the world's largest SiC fab. SiC semiconductors enable EV inverters, industrial motors, and solar inverters to operate more efficiently than silicon-based power devices. | Onsemi is a profitable, diversified analog semiconductor company that has made SiC power semiconductors its primary growth focus. Unlike Wolfspeed's pure SiC play, onsemi has existing profitable automotive, industrial, and imaging semiconductor businesses alongside its SiC expansion. Onsemi acquired SiC wafer manufacturing capability (GTAT/SiCrystal) to ensure substrate supply. Onsemi's SiC strategy is winning EV traction inverter design wins against both Wolfspeed and European competitors. |
| Investor focus | Investors track Wolfspeed's ability to ramp Mohawk Valley Fab production utilization (the critical near-term metric), SiC substrate revenue from selling wafers to competitor device manufacturers, and EV power device design wins. | Investors track onsemi's SiC quarterly revenue growth, EV design win announcements, SiC fab expansion timeline, and the broader analog semiconductor inventory recovery. |
WOLF strengths
- →SiC substrate supply chain control: Wolfspeed grows the SiC crystals that every SiC device manufacturer needs — a potential strategic bottleneck position as SiC demand grows
- →Largest SiC manufacturing facility (Mohawk Valley): Wolfspeed's capacity investment positions it as the highest-volume SiC device manufacturer at scale
- →CHIPS Act funded US manufacturing: Wolfspeed qualifies for government support as US domestic SiC manufacturer
ON strengths
- →Profitable diversified analog platform de-risks the SiC bet — onsemi generates profit from automotive MCUs, image sensors, and other analog products while SiC scales
- →Design win momentum: onsemi has announced multi-year SiC supply agreements with major EV OEMs across Asia, Europe, and North America
- →Superior financial position to Wolfspeed — onsemi funds SiC expansion from operating cash flows vs Wolfspeed's debt-funded unprofitable expansion
Risks to watch — WOLF
- →Wolfspeed has been deeply unprofitable while investing in factory expansion — cash burn is extreme and the company depends on successful capacity ramp to reach profitability
- →Slower-than-expected EV adoption is not yet filling Mohawk Valley Fab to target utilization — excess capacity costs are painful
- →Onsemi, STMicroelectronics, and Infineon all have vertical SiC strategies challenging Wolfspeed's substrate supply control
Risks to watch — ON
- →SiC competition intensifies quarterly — Wolfspeed, STMicroelectronics, Infineon all executing their own SiC expansions
- →EV adoption slower than expected — SiC revenue ramp timeline extends
- →Onsemi's reliance on external SiC substrate sourcing (despite GTAT acquisition) creates substrate supply uncertainty vs Wolfspeed's more integrated crystal growth
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