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ONON
On Holding AG
NYSE· Consumer Cyclical· Footwear & Accessories· CUSIP H5919C104
$34.00-0.64%Price as of Oct 23, 00:46 UTC · updated once a day, after the close
At a glance
On Holding AG (ONON) is listed on NYSE and classified in Footwear & Accessories, part of the Consumer Cyclical sector. It is headquartered in Zurich, Switzerland and has 3,963 employees. The company is worth $11.36B and trades at 22.8x its earnings of the last twelve months; the median for its sector is 17.7x. Revenue was CHF 3.01B in fiscal 2025, up 30.0% from the year before. Net income was CHF 203.7M. The share price is 33.4% below its 52-week high of $51.08. 7 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Stephen Mandel (Lone Pine Capital), at $470.38M. In that quarter, 3 of them opened or added to the position and 2 reduced it. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Analysis
Articles on this site that cover On Holding AG.
Key metrics
- Market cap
- $11.36B
- P/E
- 22.8x
- Forward P/E
- 16.4x
- P/B
- 4.9x
- Dividend yield
- 0.00%
- Payout
- —
- EPS
- $1.49
- ROE
- 23.95%
- Profit margin
- 12.30%
- Revenue growth
- +13.50%
- Beta
- 2.08
- 52-week high
- $51.08
- 52-week low
- $26.37
History
Year by year, from the annual reports; dividends from the payments themselves.
Revenue, debt and profit are in CHF, the currency the company reports in — not converted to dollars. Dividends are in dollars.
Bars are year-end balances; lines are what happened during the year.
Investors holding this
Major managers that reported this stock in their latest 13F.
Price over time
▼ -13.5% over 5Y.
today you would have $1,017.27▲ +1.7%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
Indicators, year by year
The last 4 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Year-end price | $46.48 | $54.77 | $26.97 | $17.16 | |
| EPS | CHF 0.61 | CHF 0.74 | CHF 0.25 | CHF 0.18 | |
| Profit margin | 5.74% | 6.76% | 10.45% | 4.44% | 4.72% |
| ROE | 9.94% | 12.48% | 17.41% | 7.41% | 5.95% |
This company reports in CHF, and the stock trades in dollars. P/E, P/S, P/B and payout would divide dollars by CHF, so they are not shown; EPS is in CHF. Margin, ROE and dividend yield do not depend on the currency.
Median of the years shown; P/E years above 200x are left out.
Fair price, seven ways
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Earnings
$15.25
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings
—
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Earnings
$26.32
Median P/E of 17.7 among peers in the sector.
Earnings
—
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Cash flow
—
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Operating
—
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Dividends
Others in the same sector
Companies of similar size in Consumer Cyclical, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| TXRHTexas Roadhouse, Inc. | $172.78 | 27.6x | 7.4x | 1.74% | 27.71% | $11.34B |
| SCIService Corp International | $83.69 | 21.9x | 7.4x | 1.72% | 34.71% | $11.41B |
| BWABorgwarner Inc | $55.46 | 27.7x | 2.0x | 1.23% | 8.06% | $11.3B |
| DDSDillard's Inc | $719.61 |
About the company
- 3,963
- Zurich, Switzerland
