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Intel Corporation (INTC) vs ON Semiconductor Corporation (ON): Which Is the Better Buy in 2026?

As of 2026-11-01, INTC is overvalued at $66, with a DCF intrinsic value of $8 and a margin of safety of -697%. ON is undervalued at $72, with an intrinsic value of $337 and a margin of safety of 79%. Of the two, ON has the wider margin of safety.

INTC
Intel Corporation
$65.76
VS
ON
ON Semiconductor Corporation
$71.67

Rewards

INTC
  • ★Net debt/EBITDA of -0.2x means the company holds more cash than debt — a net cash position.
ON
  • ★Trailing P/E of 46.2x is 21% below the historical average of 58.6x — potentially undervalued relative to its own history.
  • ★PEG ratio of 0.16 suggests the stock is undervalued relative to its growth rate — paying less than 1x for each unit of earnings growth.
  • ★Altman Z-Score of 4.70 indicates very low bankruptcy risk — the company is firmly in the safe zone.

Risks

INTC
  • ⚠Intel Corporation scores only 17/100 on the Economic Moat Score, suggesting limited durable competitive advantages.
  • ⚠Share count has increased by 21% over the past 4 years, diluting existing shareholders.
  • ⚠FCF yield of 0.2% is below 3%, meaning the market is pricing in substantial future growth to justify the current price.
ON
  • ⚠ROIC has declined by 17.0 percentage points over the past 4 years, which may signal competitive erosion.
  • ⚠FCF yield of 5.9% suggests reasonable valuation assuming continued moderate growth.
  • ⚠8 insider sales with no purchases over the past 12 months — a persistent pattern of insider selling.

Key Valuation Metrics

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INTC
ON
Valuation
$670.37M
Free Cash Flow
$1.66B
0.19%
FCF Yield
5.94%
N/A
Trailing P/E
46.24
35.50
Forward P/E
15.75
Quality & Moat
4.06%
ROIC
8.00%
-9.62%
ROE
8.31%
40.15%
Gross Margin
42.78%
1.36
PEG Ratio
0.16
Balance Sheet Safety
Net cash
Net Debt / Equity
0.12
N/A
Interest Coverage
N/A
-0.20
Net Debt / EBITDA
0.40
0.00%
Dividend Yield
0.00%
INTC: 2Ties: 1ON: 8
INTCON

Historical Fundamentals

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INTC

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

ON

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

$1 Retained Earnings Test

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INTC
N/A
Net losses over 3 years — test not applicable
Company had negative cumulative retained earnings
Σ Retained
$-22.02B
Δ Market Cap
+$74.94B
Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer
ON
$-1.41
created per $1 retained over 3 years
Market Cap Declined
Σ Retained
$3.88B
Δ Market Cap
$-5.46B
Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

Discounted Cash Flow (DCF) Analysis

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INTC
Insufficient Data
Enter initial FCF to calculate intrinsic value
Current Price: $65.76
Fair Value: $0.00
Strongly undervalued
Undervalued
Fairly valued
Overvalued
Strongly overvalued
ON
19.2% Margin of Safety
Price is 19.2% below estimated fair value
Current Price: $71.67
Fair Value: $88.71
Strongly undervalued
Undervalued
Fairly valued
Overvalued
Strongly overvalued

Reverse DCF — Market-Implied Growth

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INTC

What growth rate is the market pricing in at $66?

+54.7%
Market-Implied FCF Growth Rate

Market pricing in significantly higher growth than history — aggressive.

ON

What growth rate is the market pricing in at $72?

+23.1%
Market-Implied Owner Earnings Growth
Standard FCF implies +5.8%

The market implies +23.1% Owner Earnings growth, above historical trends.

Standard FCF implies a demanding +5.8%, reflecting heavy growth investment.

Economic Moat Score

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INTC
17/100
No Moat
70+ Wide · 40-69 Narrow · <40 None

No durable moat detected, though revenue predictability shows some competitive positioning. The business lacks consistent evidence of sustainable advantages.

Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 5 years of fundamental data.
ON
41/100
Narrow Moat
70+ Wide · 40-69 Narrow · <40 None

Narrow moat with roic consistency as the key competitive advantage. Improving margin stability would strengthen the moat.

Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 4 years of fundamental data.

Forensic Accounting

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INTC
-2.83
Unlikely Manipulator
Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone
Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.
ON
-3.04
Unlikely Manipulator
Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

M-Score Trend

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

Ownership Breakdown

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INTC
Insiders 13.9%Institutions 62.8%Retail & Other 23.3%
No. of Institutional Holders4,439
High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.
ON
Insiders 0.3%Institutions 106.1%
No. of Institutional Holders1,396
High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.

High insider ownership aligns management incentives with shareholders. Institutional concentration can indicate smart-money conviction but also crowding risk.

Insider Buying Activity

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INTC
1
Buys (3M)
2
Buys (12M)
Total value (12M): $10.25M
TAN LIP-BU
Chief Executive Officer
$10.00M
@ $95.00 · 2026-08-11
ZINSNER DAVID A
Chief Financial Officer
$249,985
@ $42.50 · 2026-01-26
GELSINGER PATRICK P
Chief Executive Officer
$251,198
@ $22.53 · 2024-11-04
Open market purchases · includes direct & indirect ownership · excludes option exercises
ON
0
Buys (3M)
0
Buys (12M)
No open market insider purchases found.
Open market purchases · includes direct & indirect ownership · excludes option exercises

Open market purchases · includes direct & indirect ownership · excludes option exercises.

Insider Selling Activity

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INTC
0
Sells (3M)
3
Sells (12M)
Total value (12M): $7.47M
CHANDRASEKARAN NAGASUBRAMANIYAN
Chief Technology Officer
$2.49M
@ $118.28 · 2026-05-29
MILLER BOISE APRIL
Officer
$4.01M
@ $99.53 · 2026-05-01
MILLER BOISE APRIL
Officer
$981,000
@ $49.05 · 2026-02-02
HOLTHAUS MICHELLE JOHNSTON
General Counsel
$650,000
@ $26.00 · 2024-11-07
Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives
ON
0
Sells (3M)
8
Sells (12M)
Total value (12M): $20.06M
THAD TRENT
Chief Financial Officer
$5.79M
@ $96.50 · 2026-04-24
THAD TRENT
Chief Financial Officer
$2.40M
@ $80.00 · 2026-04-16
GOPALSWAMY SUDHIR
Officer
$358,708
@ $58.67 · 2026-03-13
KEETON SIMON
Officer
$3.51M
@ $71.75 · 2026-02-17
EL KHOURY HASSANE
Chief Executive Officer
$1.46M
@ $73.02 · 2026-02-12
THAD TRENT
Chief Financial Officer
$4.27M
@ $71.22 · 2026-02-12
KEETON SIMON
Officer
$1.17M
@ $55.72 · 2025-12-04
THAD TRENT
Chief Financial Officer
$1.10M
@ $55.05 · 2025-12-03
EL KHOURY HASSANE
Chief Executive Officer
$768,260
@ $51.22 · 2025-08-13
CAMPBELL ALAN
Director
$274,780
@ $51.16 · 2025-06-12
CAMPBELL ALAN
Director
$432,257
@ $43.23 · 2025-03-12
KEETON SIMON
Officer
$1.92M
@ $68.56 · 2024-12-17
GOPALSWAMY SUDHIR
Officer
$1.43M
@ $67.64 · 2024-12-17
EL KHOURY HASSANE
Chief Executive Officer
$105,000
@ $70.00 · 2024-12-17
EL KHOURY HASSANE
Chief Executive Officer
$106,500
@ $71.00 · 2024-11-25
Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives

Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives.

🎭 Mr. Market's Mood

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INTC
FearGreed
😨Fear(26/100)

"Market is pessimistic — investigate whether fears are temporary or structural"

Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.
ON
FearGreed
😨Fear(29/100)

"Market is pessimistic — investigate whether fears are temporary or structural"

Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

Composite sentiment score based on market signals. Inspired by Buffett’s "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

⚖️ Buffett Signal

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INTC
⚪Awaiting DCF Data

The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

DCF Margin of Safety: N/AMr. Market's Mood: Fear (26)
ON
⚪Awaiting DCF Data

The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

DCF Margin of Safety: N/AMr. Market's Mood: Fear (29)
View INTC Full AnalysisView ON Full Analysis

Frequently Asked Questions: INTC vs ON

Is Intel Corporation or ON Semiconductor Corporation more undervalued in 2026?▼

Based on our discounted cash flow model, ON trades at a 78.7% margin of safety (intrinsic value $337 vs. price $72), compared to INTC's -696.5% margin of safety (intrinsic $8 vs. $66).

Which stock has a wider economic moat, Intel Corporation or ON Semiconductor Corporation?▼

ON scores 41/100 (Narrow moat), while INTC scores 17/100 (None moat). The moat score measures competitive advantage durability across ROIC consistency, margin stability, revenue predictability, and reinvestment efficiency.

Is Intel Corporation in financial distress?▼

INTC's Altman Z-Score of 2.1 places it in the Grey zone, signaling elevated bankruptcy risk. ON scores 4.7 (Safe zone). The Altman Z-Score is a five-factor model that predicts insolvency within two years; scores below 1.81 indicate significant distress.

Which company has better free cash flow, Intel Corporation or ON Semiconductor Corporation?▼

ON Semiconductor Corporation (ON) generates a 5.9% free cash flow yield, compared to Intel Corporation's 0.2%. A higher FCF yield means the business converts more of its market value into cash that can be returned to shareholders or reinvested.

Which stock has higher return on invested capital, Intel Corporation or ON Semiconductor Corporation?▼

ON earns 8.0% ROIC versus INTC's 4.1%. A higher ROIC means the company generates more profit per dollar of capital employed, a hallmark of durable competitive advantage in Buffett-style analysis.

INTC vs ON: Which Is the Better Buy in 2026? | SafetyMargin.io