Company Overview
On Holding AG, together with its subsidiaries, develops and distributes performance sports products under the On brand in Switzerland, the rest of Europe, the Middle East, Africa, the United States, the rest of the Americas, and the Asia-Pacific. The company offers athletic footwear, apparel, and accessories for performance running, performance outdoor, performance all day, performance training, performance tennis, and young movers. It sells its products to athletes and active customers through wholesale and direct-to-consumer channels; run specialty, general sporting goods, outdoor, luxury, street fashion, and lifestyle retailers; owned retail stores; and e-commerce platforms. On Holding AG was founded in 2010 and is headquartered in Zurich, Switzerland.
Why Investors Should Care
Generates a return on equity of 24.0%, reflecting efficient use of shareholder capital.
Return on capital employed stands at 17.9%.
Net profit has compounded at 52.3% per year over the last five years.
Revenue has grown at a 35.1% CAGR over the past five years.
Trades at a P/E of 18.9, below the sector median of 19.0.
Carries low leverage with a debt-to-equity ratio of 0.29.
Recent Developments
- Dec 2025 Revenue of $3.01B (+30.0% YoY); net profit $203.70M.
- Trailing 12 Months Year-on-year growth — revenue +13.5%, earnings +81.1%.
- 5-Year Trend Long-term compounding — revenue CAGR 35.1%, profit CAGR 52.3%.
Growth & Price Performance
Compounded Sales Growth
| 5 Years: | 35.11% |
| 1 Year: | 13.50% |
Compounded Profit Growth
| 5 Years: | 52.27% |
| 1 Year: | 81.10% |
Stock Price Performance
| 1 Year: | -43.41% |
| 6 Months: | -33.78% |
| 3 Months: | -26.52% |
| 1 Month: | -27.38% |
Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.
- Price vs 50-DMABelow
- Price vs 200-DMABelow
- RSI (14)28.79 · Oversold
P/E of 18.94 is below the sector median of 18.98 — relatively cheaper than peers.
Auto-generated from price history and fundamentals; not investment advice.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth Charts
No fundamental data available for this stock.
Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.
PROS
- Strong return on equity of 24.0%.
- Compounding revenue at 35.1% over 5 years.
- Profit CAGR of 52.3% over 5 years.
- Generates positive free cash flow.
CONS
- Trading 46.1% below its 52-week high.
- In a downtrend (50-DMA below 200-DMA).
* The pros and cons are auto-generated from financial metrics.
Valuation
Growth (CAGR)
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Peer comparison
Peer companies in the same sector (Consumer Cyclical).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | ONON On Holding AG R3K | 27.27 | 18.94 | $8.23B | 0.00% | 17.86% | 23.95% | 35.11% | 52.27% |
| 2 | AMZN Amazon.com, Inc. NDXSPXR3KAITECH | 256.97 | 20.66 | $2.77T | 0.00% | 13.33% | 30.56% | 24.04% | 32.72% |
| 3 | TSLA Tesla, Inc. NDXSPXR3KAI | 368.16 | 347.32 | $1.45T | 0.00% | 4.10% | 4.67% | 52.40% | 39.39% |
| 4 | HD The Home Depot, Inc. SPXR3K | 313.70 | 21.97 | $312.98B | 3.08% | 28.75% | 104.30% | 4.06% | 6.35% |
| 5 | BABA Alibaba Group Holding Limited AITECH | 112.66 | 25.43 | $280.03B | 0.93% | 4.16% | 6.36% | 5.62% | 12.49% |
| 6 | TM Toyota Motor Corporation | 191.45 | 8.46 | $226.71B | 3.23% | 5.24% | 12.40% | 10.91% | 16.22% |
| 7 | MCD McDonald's Corporation SPXR3K | 255.81 | 20.80 | $181.02B | 2.99% | 22.47% | - | 0.92% | 7.33% |
| 8 | TJX The TJX Companies, Inc. SPXR3K | 128.92 | 23.87 | $142.42B | 1.52% | 21.26% | 62.17% | 6.84% | 8.48% |
| 9 | BKNG Booking Holdings Inc. NDXSPXR3K | 180.30 | 20.03 | $139.71B | 0.87% | 70.23% | -96.88% | 16.93% | 22.07% |
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios
Quarterly Results
Figures in USD.
| Metric | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Revenue | - | 726.60M | 749.20M | 794.40M | 743.80M | 831.90M |
| Cost of Revenue | - | 291.30M | 288.40M | 272.10M | 268.40M | 297.60M |
| Gross Profit | - | 435.30M | 460.80M | 522.20M | 475.30M | 534.30M |
| Operating Expenses | - | 358.20M | 368.00M | 397.50M | 392.80M | 416.90M |
| Operating Income | - | 77.10M | 92.80M | 124.70M | 82.50M | 117.40M |
| EBITDA | - | 98.10M | -8.90M | 158.90M | 104.60M | 159.70M |
| Interest Expense | - | 5.90M | 6.00M | 8.10M | 100.00K | 8.00M |
| Pretax Income | - | 63.90M | -47.30M | 118.60M | 70.00M | 116.10M |
| Tax Provision | - | 7.20M | -6.40M | -300.00K | 900.00K | 12.80M |
| Net Income | - | 56.70M | -40.90M | 118.90M | 69.10M | 103.30M |
| Diluted EPS | - | 0.17 | -0.12 | 0.36 | 0.21 | 0.31 |
Profit & Loss (Annual)
Figures in USD.
| Metric | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Revenue | 1.22B | 1.79B | 2.32B | 3.01B |
| Cost of Revenue | 537.20M | 724.80M | 912.60M | 1.12B |
| Gross Profit | 684.90M | 1.07B | 1.41B | 1.89B |
| Operating Expenses | 599.80M | 887.00M | 1.19B | 1.52B |
| Operating Income | 85.10M | 180.20M | 211.50M | 377.00M |
| EBITDA | 128.60M | 141.00M | 400.00M | 354.50M |
| Interest Expense | 4.30M | 7.00M | 15.80M | 21.90M |
| Pretax Income | 77.90M | 69.10M | 279.60M | 205.20M |
| Tax Provision | 20.20M | -10.50M | 37.40M | 1.50M |
| Net Income | 57.70M | 79.60M | 242.30M | 203.70M |
| Diluted EPS | 0.18 | 0.25 | 0.74 | 0.61 |
Balance Sheet (Annual)
Figures in USD.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Total Assets | - | 1.38B | 1.59B | 2.38B | 2.84B |
| Current Assets | - | 1.05B | 1.15B | 1.76B | 1.96B |
| Cash & Equivalents | - | 371.00M | 494.60M | 923.70M | 1.02B |
| Inventory | - | 395.60M | 356.50M | 419.20M | 419.80M |
| Receivables | - | 174.60M | 204.80M | 246.10M | 305.40M |
| Total Liabilities | - | 412.80M | 518.50M | 984.90M | 1.20B |
| Current Liabilities | - | 242.70M | 305.60M | 660.40M | 724.40M |
| Long Term Debt | - | - | - | - | - |
| Total Debt | - | 160.40M | 229.00M | 347.60M | 521.50M |
| Total Equity | - | 969.60M | 1.07B | 1.39B | 1.63B |
| Shares Outstanding | - | 334.54M | 334.54M | 337.00M | 340.97M |
Cash Flows (Annual)
Figures in USD.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | - | -227.00M | 232.10M | 510.60M | 359.50M |
| Investing Cash Flow | - | -82.90M | -47.10M | -64.90M | -78.60M |
| Financing Cash Flow | - | 6.30M | -21.80M | -55.40M | -78.50M |
| Capital Expenditure | - | -83.00M | -47.20M | -65.00M | -78.60M |
| Free Cash Flow | - | -310.00M | 184.90M | 445.60M | 280.90M |
| Net Change in Cash | - | -303.60M | 163.20M | 390.30M | 202.30M |
Ratios (Annual)
Figures in %.
| Metric | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Gross Margin % | 56.0% | 59.6% | 60.6% | 62.8% |
| Operating Margin % | 7.0% | 10.1% | 9.1% | 12.5% |
| Net Margin % | 4.7% | 4.4% | 10.5% | 6.8% |
| ROE % | 6.0% | 7.4% | 17.4% | 12.5% |
| ROCE % | 7.5% | 14.0% | 12.3% | 17.9% |
Shareholding Pattern
Top Institutional Holders
| # | Holder | % Held | Shares | Value |
|---|---|---|---|---|
| 1 | Morgan Stanley | 6.89% | 20.45M | $557.39M |
| 2 | BAMCO Inc. | 5.70% | 16.93M | $461.51M |
| 3 | FMR, LLC | 5.40% | 16.04M | $437.23M |
| 4 | Lone Pine Capital Llc | 4.47% | 13.28M | $362.01M |
| 5 | Platinum Paramount Investment Ltd. | 3.81% | 11.31M | $308.37M |
| 6 | Sinvest Investments II Ltd. | 2.83% | 8.40M | $228.98M |
| 7 | Sands Capital Management, LLC | 2.52% | 7.49M | $204.04M |
| 8 | Citadel Advisors Llc | 2.39% | 7.10M | $193.55M |
| 9 | Blackrock Inc. | 1.86% | 5.54M | $150.91M |
| 10 | Jane Street Group, LLC | 1.77% | 5.24M | $142.93M |
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
Latest News
Recent headlines for ONON
NIKE, Inc. (NYSE:NKE) Vs On Holding (NYSE:ONON) – Here’s What Jim Cramer Thinks - finance.yahoo.com
<a href="https://news.google.com/rss/articles/CBMijgFBVV95cUxQZDlFWk9uNDRzVjFscm5DNFdYMENTU1ZiemZfZ0xJcEEyQ2I0akVTeDlIdWF2SDJRYjhxTTNWX25ZdUNpSTZ0bG5XeTlra0lBTW53TVNSdEhOWWxMMGNOcFpXSW1kaEtucldQX1pRaE5uWjRrWUFBVFdPVmVxSDNsYkJudHYxZkVxbWdnal…
On's Zurich investor event is invitation-only but will be livestreamed - Stock Titan
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What On Holding (ONON)'s Asia Pacific Growth Means For Shareholders - simplywall.st
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ON (NYSE:ONON) Sets New 1-Year Low - Time to Sell? - marketbeat.com
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ONON Stock Plunges To 2-Year Lows In Record Single-Day Crash After Guidance Cut, Revenue Miss - Stocktwits
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On Holding (ONON) Shares Dropped, So What Is Driving Attention Now? - finance.yahoo.com
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ONON — Frequently Asked Questions
What is the current share price of On Holding AG (ONON)?
As of 2026-09-19 21:16 PDT, On Holding AG (ONON) trades at $27.27 on NYSE. Its 52-week range is $27.27 to $50.63.
What is the market capitalisation of ONON?
On Holding AG (ONON) has a market capitalisation of $8.23B on NYSE.
What is the P/E ratio of ONON?
ONON trades at a trailing price-to-earnings (P/E) ratio of 18.94. The industry average P/E is 18.98. Its price-to-book (P/B) ratio is 3.93.
What is the return on equity (ROE) of ONON?
ONON has a return on equity (ROE) of 23.95%. Its return on capital employed (ROCE) is 17.86%.
Is ONON a good stock to buy?
This page provides a data-driven analysis of On Holding AG (ONON), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.