(ONON) On Holding - Overview
Exchange: NYSE •
Country: Switzerland •
Currency: USD •
Type: Common Stock •
ISIN: CH1134540470
Stock: Footwear, Apparel, Accessories
Total Rating 41
Risk 84
Buy Signal -0.89
| Risk 5d forecast | |
|---|---|
| Volatility | 48.4% |
| Relative Tail Risk | -8.03% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.01 |
| Alpha | -36.35 |
| Character TTM | |
|---|---|
| Beta | 1.357 |
| Beta Downside | 1.217 |
| Drawdowns 3y | |
|---|---|
| Max DD | 45.05% |
| CAGR/Max DD | 0.56 |
EPS (Earnings per Share)
Revenue
Description: ONON On Holding March 05, 2026
On Holding AG (ONON) designs and sells athletic footwear, apparel, and accessories globally. The company operates in the highly competitive sportswear sector, which includes major players like Nike and Adidas.
ONON utilizes a multi-channel distribution strategy, selling through independent retailers, its own e-commerce platform, and company-owned stores. This direct-to-consumer model, common in the apparel industry, allows for greater control over brand image and pricing.
For more detailed financial analysis, consider exploring ValueRay.
Headlines to watch out for
- Direct-to-consumer sales growth boosts revenue
- New product launches expand market share
- Raw material costs impact production expenses
- Supply chain disruptions affect inventory availability
- Increased competition pressures pricing power
Piotroski VR‑10 (Strict, 0-10) 7.5
| Net Income: 203.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA -9.01 > 1.0 |
| NWC/Revenue: 41.20% < 20% (prev 47.42%; Δ -6.22% < -1%) |
| CFO/TA 0.12 > 3% & CFO 353.1m > Net Income 203.3m |
| Net Debt (-439.4m) to EBITDA (364.2m): -1.21 < 3 |
| Current Ratio: 2.71 > 1.5 & < 3 |
| Outstanding Shares: last quarter (334.2m) vs 12m ago -1.39% < -2% |
| Gross Margin: 62.83% > 18% (prev 0.61%; Δ 6222 % > 0.5%) |
| Asset Turnover: 115.4% > 50% (prev 97.54%; Δ 17.82% > 0%) |
| Interest Coverage Ratio: 8.18 > 6 (EBITDA TTM 364.2m / Interest Expense TTM 29.0m) |
Altman Z'' 5.40
| A: 0.44 (Total Current Assets 1.96b - Total Current Liabilities 725.2m) / Total Assets 2.84b |
| B: 0.13 (Retained Earnings 383.0m / Total Assets 2.84b) |
| C: 0.09 (EBIT TTM 237.1m / Avg Total Assets 2.61b) |
| D: 1.42 (Book Value of Equity 1.71b / Total Liabilities 1.20b) |
| Altman-Z'' Score: 5.40 = AAA |
Beneish M -2.84
| DSRI: 0.96 (Receivables 305.7m/246.1m, Revenue 3.01b/2.32b) |
| GMI: 0.97 (GM 62.83% / 60.63%) |
| AQI: 1.16 (AQ_t 0.08 / AQ_t-1 0.07) |
| SGI: 1.30 (Revenue 3.01b / 2.32b) |
| TATA: -0.05 (NI 203.3m - CFO 353.1m) / TA 2.84b) |
| Beneish M-Score: -2.84 (Cap -4..+1) = A |
What is the price of ONON shares?
As of March 11, 2026, the stock is trading at USD 41.02 with a total of 4,075,132 shares traded.
Over the past week, the price has changed by -6.58%, over one month by -9.45%, over three months by -15.80% and over the past year by -7.26%.
Over the past week, the price has changed by -6.58%, over one month by -9.45%, over three months by -15.80% and over the past year by -7.26%.
Is ONON a buy, sell or hold?
On Holding has received a consensus analysts rating of 4.53.
Therefore, it is recommended to buy ONON.
- StrongBuy: 19
- Buy: 8
- Hold: 3
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the ONON price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 58.7 | 43.1% |
| Analysts Target Price | 58.7 | 43.1% |
ONON Fundamental Data Overview March 10, 2026
P/E Trailing = 48.2093
P/E Forward = 28.4091
P/S = 4.5417
P/B = 6.9214
P/EG = 1.3084
Revenue TTM = 3.01b USD
EBIT TTM = 237.1m USD
EBITDA TTM = 364.2m USD
Long Term Debt = 443.6m USD (estimated: total debt 581.7m - short term 138.1m)
Short Term Debt = 138.1m USD (from shortTermDebt, last quarter)
Debt = 581.7m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -439.4m USD (from netDebt column, last quarter)
Enterprise Value = 13.25b USD (13.69b + Debt 581.7m - CCE 1.02b)
Interest Coverage Ratio = 8.18 (Ebit TTM 237.1m / Interest Expense TTM 29.0m)
EV/FCF = 47.92x (Enterprise Value 13.25b / FCF TTM 276.5m)
FCF Yield = 2.09% (FCF TTM 276.5m / Enterprise Value 13.25b)
FCF Margin = 9.19% (FCF TTM 276.5m / Revenue TTM 3.01b)
Net Margin = 6.76% (Net Income TTM 203.3m / Revenue TTM 3.01b)
Gross Margin = 62.83% ((Revenue TTM 3.01b - Cost of Revenue TTM 1.12b) / Revenue TTM)
Gross Margin QoQ = 63.90% (prev 65.75%)
Tobins Q-Ratio = 4.67 (Enterprise Value 13.25b / Total Assets 2.84b)
Interest Expense / Debt = 1.33% (Interest Expense 7.74m / Debt 581.7m)
Taxrate = 1.29% (893.2k / 69.5m)
NOPAT = 234.0m (EBIT 237.1m * (1 - 1.29%))
Current Ratio = 2.71 (Total Current Assets 1.96b / Total Current Liabilities 725.2m)
Debt / Equity = 0.36 (Debt 581.7m / totalStockholderEquity, last quarter 1.63b)
Debt / EBITDA = -1.21 (Net Debt -439.4m / EBITDA 364.2m)
Debt / FCF = -1.59 (Net Debt -439.4m / FCF TTM 276.5m)
Total Stockholder Equity = 1.51b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.80% (Net Income 203.3m / Total Assets 2.84b)
RoE = 13.48% (Net Income TTM 203.3m / Total Stockholder Equity 1.51b)
RoCE = 12.15% (EBIT 237.1m / Capital Employed (Equity 1.51b + L.T.Debt 443.6m))
RoIC = 15.97% (NOPAT 234.0m / Invested Capital 1.47b)
WACC = 10.52% (E(13.69b)/V(14.27b) * Re(10.91%) + D(581.7m)/V(14.27b) * Rd(1.33%) * (1-Tc(0.01)))
Discount Rate = 10.91% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 2.30%
[DCF] Terminal Value 64.28% ; FCFF base≈344.1m ; Y1≈269.7m ; Y5≈175.4m
[DCF] Fair Price = 9.01 (EV 2.23b - Net Debt -439.4m = Equity 2.67b / Shares 296.7m; r=10.52% [WACC]; 5y FCF grow -25.79% → 2.90% )
EPS Correlation: 36.67 | EPS CAGR: 53.27% | SUE: 0.19 | # QB: 0
Revenue Correlation: 96.98 | Revenue CAGR: 35.59% | SUE: -1.16 | # QB: 0
EPS next Quarter (2026-06-30): EPS=0.32 | Chg7d=-0.012 | Chg30d=-0.014 | Revisions Net=-1 | Analysts=13
EPS current Year (2026-12-31): EPS=1.28 | Chg7d=-0.053 | Chg30d=-0.072 | Revisions Net=-11 | Growth EPS=+59.5% | Growth Revenue=+17.4%
EPS next Year (2027-12-31): EPS=1.61 | Chg7d=-0.033 | Chg30d=-0.132 | Revisions Net=-1 | Growth EPS=+26.2% | Growth Revenue=+21.1%
[Analyst] Revisions Ratio: -0.33 (1 Up / 2 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 8.8% (Discount Rate 10.9% - Earnings Yield 2.1%)
[Growth] Growth Spread = +7.8% (Analyst 16.6% - Implied 8.8%)
P/E Forward = 28.4091
P/S = 4.5417
P/B = 6.9214
P/EG = 1.3084
Revenue TTM = 3.01b USD
EBIT TTM = 237.1m USD
EBITDA TTM = 364.2m USD
Long Term Debt = 443.6m USD (estimated: total debt 581.7m - short term 138.1m)
Short Term Debt = 138.1m USD (from shortTermDebt, last quarter)
Debt = 581.7m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -439.4m USD (from netDebt column, last quarter)
Enterprise Value = 13.25b USD (13.69b + Debt 581.7m - CCE 1.02b)
Interest Coverage Ratio = 8.18 (Ebit TTM 237.1m / Interest Expense TTM 29.0m)
EV/FCF = 47.92x (Enterprise Value 13.25b / FCF TTM 276.5m)
FCF Yield = 2.09% (FCF TTM 276.5m / Enterprise Value 13.25b)
FCF Margin = 9.19% (FCF TTM 276.5m / Revenue TTM 3.01b)
Net Margin = 6.76% (Net Income TTM 203.3m / Revenue TTM 3.01b)
Gross Margin = 62.83% ((Revenue TTM 3.01b - Cost of Revenue TTM 1.12b) / Revenue TTM)
Gross Margin QoQ = 63.90% (prev 65.75%)
Tobins Q-Ratio = 4.67 (Enterprise Value 13.25b / Total Assets 2.84b)
Interest Expense / Debt = 1.33% (Interest Expense 7.74m / Debt 581.7m)
Taxrate = 1.29% (893.2k / 69.5m)
NOPAT = 234.0m (EBIT 237.1m * (1 - 1.29%))
Current Ratio = 2.71 (Total Current Assets 1.96b / Total Current Liabilities 725.2m)
Debt / Equity = 0.36 (Debt 581.7m / totalStockholderEquity, last quarter 1.63b)
Debt / EBITDA = -1.21 (Net Debt -439.4m / EBITDA 364.2m)
Debt / FCF = -1.59 (Net Debt -439.4m / FCF TTM 276.5m)
Total Stockholder Equity = 1.51b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.80% (Net Income 203.3m / Total Assets 2.84b)
RoE = 13.48% (Net Income TTM 203.3m / Total Stockholder Equity 1.51b)
RoCE = 12.15% (EBIT 237.1m / Capital Employed (Equity 1.51b + L.T.Debt 443.6m))
RoIC = 15.97% (NOPAT 234.0m / Invested Capital 1.47b)
WACC = 10.52% (E(13.69b)/V(14.27b) * Re(10.91%) + D(581.7m)/V(14.27b) * Rd(1.33%) * (1-Tc(0.01)))
Discount Rate = 10.91% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 2.30%
[DCF] Terminal Value 64.28% ; FCFF base≈344.1m ; Y1≈269.7m ; Y5≈175.4m
[DCF] Fair Price = 9.01 (EV 2.23b - Net Debt -439.4m = Equity 2.67b / Shares 296.7m; r=10.52% [WACC]; 5y FCF grow -25.79% → 2.90% )
EPS Correlation: 36.67 | EPS CAGR: 53.27% | SUE: 0.19 | # QB: 0
Revenue Correlation: 96.98 | Revenue CAGR: 35.59% | SUE: -1.16 | # QB: 0
EPS next Quarter (2026-06-30): EPS=0.32 | Chg7d=-0.012 | Chg30d=-0.014 | Revisions Net=-1 | Analysts=13
EPS current Year (2026-12-31): EPS=1.28 | Chg7d=-0.053 | Chg30d=-0.072 | Revisions Net=-11 | Growth EPS=+59.5% | Growth Revenue=+17.4%
EPS next Year (2027-12-31): EPS=1.61 | Chg7d=-0.033 | Chg30d=-0.132 | Revisions Net=-1 | Growth EPS=+26.2% | Growth Revenue=+21.1%
[Analyst] Revisions Ratio: -0.33 (1 Up / 2 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 8.8% (Discount Rate 10.9% - Earnings Yield 2.1%)
[Growth] Growth Spread = +7.8% (Analyst 16.6% - Implied 8.8%)