On Holding AG
ONON
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Bull / bear case
Site-generated summary from fundamentals, news, and score — not investment advice. As of 2026-10-08.
- On Holding AG is well-positioned in the footwear industry with a strong brand identity and innovative product offerings that appeal to a growing consumer base.
- Revenue increased by 2% from the prior quarter, reaching $850 million.
- Gross margin improved to 65.4%, up from 64.2% in the previous quarter.
- The company faces significant competition in the footwear market, which could impact its market share and pricing strategy.
- Trailing PE ratio stands at 22.09, indicating potential overvaluation compared to industry peers.
- Operating margin decreased to 14.04% in Q2 2026 from 14.11% in Q1 2026.
Fundamentals
| Market cap | $11.38B | Enterprise value | $10.70B | Trailing P/E | 22.69 | Forward P/E | 16.60 |
| PEG | 0.53 | Price / book | 4.96 | Beta | 2.08 | Dividend yield | 0.00% |
| Revenue growth | 13.5% | Earnings growth | — | Gross margin | 64.8% | Operating margin | 14.0% |
| Profit margin | 12.3% | ROE | 24.0% | ROA | 9.6% | Debt / equity | 0.29 |
| Current ratio | 2.83 | Free cash flow | $288.49M | Analyst recommendation | buy | Mean target | $43.47 |
| 52w high | $51.08 | 52w low | $26.37 |
Quarterly
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | |
|---|---|---|---|---|---|
| Revenue | $850M | $832M | $744M | $794M | $749M |
| Op margin | 14.0% | 14.1% | 11.1% | 15.7% | 12.4% |
| Net income | $105M | $103M | $69.1M | $119M | -$40.9M |
| Gross margin | 65.4% | 64.2% | 63.9% | 65.7% | 61.5% |
| Gross profit | $556M | $534M | $475M | $522M | $461M |
| Operating income | $119M | $117M | $82.5M | $125M | $92.8M |
- Revenue +2% vs prior quarter ($850M vs $832M).
- Gross margin 65.4% (was 64.2% prior quarter).
Yearly (6y)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Revenue | $3.0B | $2.3B | $1.8B | $1.2B |
| Op margin | 12.5% | 9.1% | 10.1% | 7.0% |
| Net income | $204M | $242M | $79.6M | $57.7M |
| Gross margin | 62.8% | 60.6% | 59.6% | 56.0% |
| Gross profit | $1.9B | $1.4B | $1.1B | $685M |
| Operating income | $377M | $212M | $180M | $85.1M |
No flags
• No distress or material-risk keywords in recent headlines (keyword scan only — not a guarantee).
News
2026-10-09 · Figs (FIGS) Soars 6.5%: Is Further Upside Left in the Stock?
2026-10-08 · On Holding (ONON) Gains As Market Dips: What You Should Know
2026-10-08 · On Holding Says 24 Core Services Migrated to Google Cloud
2026-10-08 · Nike and LVMH Took China for Granted—and Both Stocks Are Paying the Price
2026-10-07 · On Holding AG (ONON) is Attracting Investor Attention: Here is What You Should Know
2026-10-06 · Can On Holding (ONON) Justify Its Valuation Following Reaffirmed 2026 Guidance?
2026-10-06 · Nscale Appoints Amy Banse to Board of Directors
2026-10-06 · Nscale Appoints Amy Banse to Board of Directors
2026-10-05 · Nike Stock Near 52-Week Lows: Can Its Dividend and Caitlin Clark Spark a Rebound?
2026-10-04 · Could Nike’s Brutal Sell-Off Finally Be Running Out of Steam?
2026-10-03 · Nike’s Contrarian Strategy: Cut Volume, Restore Prestige
Price (daily)
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