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ONON stock logo

ONON

On Holding AG

$34.75
-0.44
 (-1.25%)
Exchange:  NYSE
Market Cap:  11.446B
Shares Outstanding:  305.726M
Delayed data
Overview
Earnings
Financials
Valuation
Chart

About The Company

Sector:  Consumer CyclicalView sector performance
Industry:  Apparel – Footwear & AccessoriesView industry performance
   
CEO:  David Allemann
Full Time Employees:  3963
Address: 
FOerrlibuckstrasse 190
Zurich
ZH
8005
CH
Website:  https://www.on.com
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.

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Revenue Segmentation

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Industry Peers

TICKERCOMPANYMKT CAPP/EFWD P/EROIC
ONONON logoONONOn Holding AG11.4B24.320.216.3%
DEDECK logoDECKDeckers Outdoor Corporation11.7B11.712.433.7%
BIBIRK logoBIRKBirkenstock Holding plc6.0B16.315.18.0%
CRCROX logoCROXCrocs, Inc.5.9B9.98.817.7%
SHSHOO logoSHOOSteven Madden, Ltd.3.3B21.920.511.0%
CPCPRI logoCPRICapri Holdings Limited1.8B11.911.32.1%

EPS

Historical EPS and analyst estimates in one chart. Log in for the full interactive view and links to detailed estimates.

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Earnings Call

Full text

Earnings transcript

Read the complete earnings call transcript.

AI summary

Key takeaways

Short, structured highlights from the call so you can focus on what matters.

2026/05/12 — Q1 quarter 2026

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Income Statement
Balance Sheet
Cash Flow Statement
Analyst Estimates

Income Statement

Year202320242025
Revenue1,792,1002,318,3003,014,000
Gross Profit1,067,3001,405,7001,893,600
EBITDA244,700400,000354,500
Operating Income180,200211,600377,000
Net Income79,600242,300203,700

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(* All numbers are in thousands)

Balance Sheet

Year202320242025
Total Assets1,593,0002,376,7002,838,621.028
Total Liabilities518,500984,9001,204,366.614
Total Stockholders Equity1,074,5001,391,8001,634,254.414
Total Debt229,000347,600581,660.018
Cash and Cash Equivalents494,600924,3001,021,058.610

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(* All numbers are in thousands)

Cash Flow Statement

Year202320242025
Operating Cash Flow232,100510,600322,804.504
Capital Expenditure-47,200-65,000-69,622.625
Free Cash Flow184,900445,600253,181.879
Net Income74,576.201242,300194,542.241
Net Change in Cash123,600429,700212,111.251

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(* All numbers are in thousands)

Analyst Estimates

Fiscal Year2029Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Low)5,282,384.335Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (High)5,905,272.408Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Avg)5,703,213.343Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Low)1,032,005.082Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (High)1,165,632.556Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Avg)1,122,285.187Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Low)782,807.930Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (High)905,744.628Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Avg)865,865.236Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Low)2,931,593.386Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (High)3,277,280.947Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Avg)3,165,143.135Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Avg)2.590Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (High)2.710Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Low)2.340Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated Revenue)10Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated EPS)9Research AccessResearch AccessResearch AccessResearch Access

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(* All numbers are in thousands)

Current Key Metrics

?Revenue
 (TTM)
: 
2.632B  ?P/S
 (TTM)
: 
3
?Net Income
 (TTM)
: 
275.132M  ?P/E
 (TTM)
: 
24.28
?Enterprise Value
 (TTM)
: 
9.068B  ?EV/FCF
 (TTM)
: 
21.38
?Dividend Yield
 (TTM)
: 
0%  ?Payout Ratio
 (TTM)
: 
0%
?ROE
 (TTM)
: 
23.26%  ?ROIC
 (TTM)
: 
16.31%
?Net Debt
 (TTM)
: 
-577.876M  ?Debt/Equity
 (TTM)
: 
0.29
?P/B
 (TTM)
: 
5.09  ?Current Ratio
 (TTM)
: 
2.83

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Forward P/E Ratios

?

Forward P/E (Avg EPS estimate) — log in with Research Access for high/low estimates and the interactive table.

Forward P/E 1YResearch AccessResearch AccessResearch AccessResearch Access
20.17Research AccessResearch AccessResearch AccessResearch Access

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SWOT Analysis

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At what price to buy it? -
Intrinsic Value Calculator

Based on current fundamentals and analyst forecasts, MarketSnap estimates ONON intrinsic value between $30.33 – $45.19 per share. This depends on revenue growth, margins, and discount rate.

This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.


Calculate ONON Intrinsic Value

Common questions about ONON valuation

Is On Holding AG (ONON) overvalued or undervalued right now?

MarketSnap estimates intrinsic value for On Holding AG (ONON) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.

Is ONON a buy, hold, or sell for long-term investors?

MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether ONON trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.

What is ONON’s P/E ratio?

You can see ONON’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.

How is intrinsic value calculated for ONON?

MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.

Is ONON a good long-term investment?

Whether ONON fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.

Research tools for On Holding AG

  • On Holding AG intrinsic value calculatorEstimate what the business is worth
  • On Holding AG 5-year outlookWhat has to go right, and what could go wrong
ONON

1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.

Daily snapshot

-1.25
MarketSnap

Trading Metrics:

Open: 35.49   Previous Close: 35.19
Day Low: 34.27   Day High: 35.77
Year Low: 26.37   Year High: 51.08
Price Avg 50: 30.59   Price Avg 200: 37.4
Volume: 10.173M   Average Volume: 7.98M

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See in Nexus

Relevant news

On Holding (ONON) Falls More Steeply Than Broader Market: What Investors Need to Know
16-10-2026 19:00
On Holding (ONON) Falls More Steeply Than Broader Market: What Investors Need to Know
On Holding AG (ONON) is Attracting Investor Attention: Here is What You Should Know
29-05-2026 10:01
On Holding AG (ONON) is Attracting Investor Attention: Here is What You Should Know
On Holding (ONON) Surpasses Market Returns: Some Facts Worth Knowing
02-10-2026 18:51
On Holding (ONON) Surpasses Market Returns: Some Facts Worth Knowing
On Holding (ONON) Outperforms Broader Market: What You Need to Know
01-10-2026 19:01
On Holding (ONON) Outperforms Broader Market: What You Need to Know
On Holding's Premium Store Expansion Strengthens Consumer Connections
28-09-2026 10:06
On Holding's Premium Store Expansion Strengthens Consumer Connections
On Targets CHF 5.6B by 2029, Unveils Football, Golf and $1B Buyback Plan
25-09-2026 15:02
On Targets CHF 5.6B by 2029, Unveils Football, Golf and $1B Buyback Plan

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