ON Semiconductor reported $5.50B of remaining performance obligations at 2 Oct 2026, down 32% from a year earlier and down 10% from the previous quarter. That is 0.9 years of trailing revenue already under contract. Book-to-bill last quarter: 0.65.
Net new backlog added in the latest quarter: -$600M.
Over the last twelve months it turned about 93% of its opening backlog into revenue (12-month conversion).
39% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 1.2% of the backlog.
Twelve-month book-to-bill: 0.59, i.e. 0.59 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -35 points — revenue is catching up with orders.
By backlog size it ranks 107th among US filers the cockpit tracks.
ON Semiconductor backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
2 Oct 2026
$5.50B
$6.37B
0.9 yrs
$68.6M
3 Jul 2026
$6.10B
$6.20B
1.0 yrs
$76.0M
3 Apr 2026
$6.50B
$6.06B
1.1 yrs
$87.7M
31 Dec 2025
$7.10B
$6.00B
1.2 yrs
$122M
3 Oct 2025
$8.10B
$6.19B
1.3 yrs
$152M
4 Jul 2025
$9.60B
$6.40B
1.5 yrs
$184M
4 Apr 2025
$10.6B
$6.67B
1.6 yrs
$210M
31 Dec 2024
$11.9B
$7.08B
1.7 yrs
$219M
27 Sep 2024
$13.7B
$7.38B
1.9 yrs
$273M
28 Jun 2024
$14.7B
$7.80B
1.9 yrs
$297M
29 Mar 2024
$15.6B
$8.16B
1.9 yrs
n/a
31 Dec 2023
$16.5B
$8.25B
2.0 yrs
$304M
Questions
What is ON Semiconductor's backlog?
ON Semiconductor reported $5.50B of remaining performance obligations at 2 Oct 2026, down 32% from a year earlier and down 10% from the previous quarter. That is 0.9 years of trailing revenue already under contract. Book-to-bill last quarter: 0.65.
How fast does ON Semiconductor's backlog turn into revenue?
Over the last twelve months ON Semiconductor recognised revenue equal to about 93% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.