49G Stock Chart & Stats
Currently, no data available
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Bulls Say, Bears Say
Bulls Say
Direct-to-Consumer MomentumSustained high DTC growth and nearly half of sales from the company's own channels strengthen margins, customer data capture and brand control. Over the next several quarters, a DTC-led mix supports margin resilience, repeatability of sales and lower reliance on promotional wholesale dynamics.
High And Expanding Gross MarginsConsistently elevated gross margins (~65%) and near-20% adjusted EBITDA reflect durable pricing power from premium positioning and product differentiation. These structural margin levels create room to invest in innovation and marketing while preserving profitability through typical industry cycles in the medium term.
Strong Balance Sheet And Cash GenerationA net cash position above CHF 1.2bn and positive trailing FCF give On notable financial flexibility to fund R&D, scale DTC and absorb near-term inventory swings. This liquidity reduces refinancing risk and supports strategic choices without forcing value-destructive measures over the next several quarters.
Bears Say
Inventory BuildA ~30% inventory increase elevates working-capital needs and raises risk of markdowns if wholesale sell-through softens. Excess stock can compress near-term cash conversion and margin sustainability, requiring active sell-in calibration and disciplined pricing to avoid margin erosion in coming quarters.
Wholesale Sell-in Reductions And Channel RiskDeliberate wholesale cutbacks protect brand premium but reduce near-term wholesale volumes, creating a revenue cadence shift and greater dependence on DTC to maintain growth. If DTC or product rollouts underperform, wholesale weakness in promotional markets could extend slower top-line recovery.
Tariff UncertaintyElevated U.S. tariffs and uncertain timing for refunds introduce structural timing risk to margins and cash flow. Expected retroactive benefits not yet recognized mean margins and free cash conversion could remain pressured until refunds are realized, complicating short-to-medium term planning.
On Holding AG News
49G FAQ
What was On Holding AG’s price range in the past 12 months?
Currently, no data Available
What is On Holding AG’s market cap?
On Holding AG’s market cap is CHF10.07B.
When is On Holding AG’s upcoming earnings report date?
On Holding AG’s upcoming earnings report date is Nov 17, 2026 which is in 97 days.
How were On Holding AG’s earnings last quarter?
On Holding AG released its earnings results on Aug 11, 2026. The company reported CHF0.35 earnings per share for the quarter, beating the consensus estimate of CHF0.34 by CHF0.01.
Is On Holding AG overvalued?
According to Wall Street analysts On Holding AG’s price is currently Undervalued.
Does On Holding AG pay dividends?
On Holding AG does not currently pay dividends.
What is On Holding AG’s EPS estimate?
On Holding AG’s EPS estimate is 0.39.
How many shares outstanding does On Holding AG have?
Currently, no data Available
What happened to On Holding AG’s price movement after its last earnings report?
On Holding AG reported an EPS of CHF0.35 in its last earnings report, beating expectations of CHF0.34. Following the earnings report the stock price went same N/A.
Which hedge fund is a major shareholder of On Holding AG?
Currently, no hedge funds are holding shares in CH:49G
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology
On Holding AG Stock Smart Score
Outperform
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Analyst Consensus
Strong Buy
Average Price Target:
CHF39.86 (― Upside)
CHF39.86 (― Upside)
Blogger Sentiment
Bullish
CH:49G Sentiment 82%
Sector Average ―
Sector Average ―
Insider Transactions
Bought Shares
Worth CHF5.3M over
the Last 3 Months
the Last 3 Months
News Sentiment
Neutral
Bullish news 52%
Bearish news 48%
Bearish news 48%
Technicals
SMA
Negative
20 days / 200 days
Momentum
-28.28%
12-Months-Change
Fundamentals
Return on Equity
―
Trailing 12-Months
Asset Growth
34.91%
Trailing 12-Months
Company Description
On Holding AG
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.
49G Earnings Call
Q2 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call presents a strong set of financial and commercial achievements: double-digit constant-currency revenue growth, exceptional gross margin expansion (65.4%), robust DTC momentum (34.3% CC growth; 45.7% of sales), large APAC and apparel outperformance, meaningful innovation milestones, and a fortified balance sheet (net cash > CHF 1.2bn). The primary near-term challenges are deliberate wholesale sell-in reductions—mainly in the Americas—resulting in moderated wholesale growth, an inventory increase (~30%), and exposure to a promotional wholesale environment and tariff timing. Management frames the wholesale actions as strategic and temporary to protect premium positioning and to set up a stronger innovation-led 2027 rollout. Given the breadth and scale of the operational, product and financial positives versus a limited set of intentional, strategic near-term trade-offs, the overall tone is decidedly favorable.View all CH:49G earnings summaries