ONONN Stock Chart & Stats
$494.00
$0.00(0.00%)
At close: 4:00 PM EDT
$494.00
$0.00(0.00%)
Day’s Range― - ―
52-Week Range$452.58 - $939.00
Previous CloseN/A
Volume0.00
Average Volume (3M)4.26K
Market Cap
$152.18B
Enterprise Value$11.16K
Total Cash (Recent Filing)$1.24B
Total Debt (Recent Filing)$562.50M
Price to Earnings (P/E)18.7
Beta0.12
Next Earnings
Nov 17, 2026EPS Estimate
8.05Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)1.20
Shares Outstanding296,873,350
10 Day Avg. Volume1,021
30 Day Avg. Volume4,263
Financial Highlights & Ratios
PEG Ratio-3.70
Price to Book (P/B)7.43
Price to Sales (P/S)4.22
P/FCF Ratio47.98
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$710.47Price Target Upside43.82% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering22
EPS Forecast (FY)24.26
Revenue Forecast (FY)$60.58B
Bulls Say, Bears Say
Bulls Say
DTC-led Revenue GrowthStrong DTC growth shows increasing consumer demand and gives On greater control over pricing, customer relationships, and product presentation. A rising DTC mix can support durable revenue quality and margins while reducing reliance on third-party retail partners over the next several quarters.
Premium Margin ProfileThe combination of a 65.4% gross margin and nearly 20% adjusted EBITDA margin indicates that On is scaling profitably while retaining premium brand economics. Management’s full-year margin targets suggest profitability is expected to remain structurally strong rather than depend solely on volume growth.
Strong Balance Sheet And Cash GenerationA net cash position above CHF 1.2 billion provides substantial financial flexibility to fund product innovation, retail expansion, and international growth without relying heavily on additional borrowing. Together with recent cash generation, this strengthens resilience and supports long-term strategic investment.
Bears Say
Wholesale Channel WeaknessSlower wholesale growth, especially in the Americas, indicates that demand and sell-through are less consistent in multi-brand retail than in On’s DTC channel. Continued weakness could constrain distribution-led expansion and make revenue growth more dependent on the company’s own stores and digital platforms.
Inventory Build And Promotional PressureA 30% inventory increase alongside promotional wholesale conditions raises the risk that product may require additional markdowns or take longer to sell through. Even if volume growth is the main driver, sustained inventory expansion could pressure working capital, margins, and operating cash conversion.
U.S. Tariff ExposureHigher U.S. import tariffs create an ongoing cost headwind for products sold into an important market, potentially pressuring gross margins or requiring pricing actions. The uncertain timing of refunds adds variability to reported profitability and cash benefits over the coming quarters.
On Holding AG News
ONONN FAQ
What was On Holding AG’s price range in the past 12 months?
On Holding AG lowest stock price was $452.58 and its highest was $939.00 in the past 12 months.
What is On Holding AG’s market cap?
On Holding AG’s market cap is $152.18B.
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 61 days.
How were On Holding AG’s earnings last quarter?
On Holding AG released its earnings results on Aug 11, 2026. The company reported $7.319 earnings per share for the quarter, beating the consensus estimate of $7.109 by $0.209.
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 8.05.
How many shares outstanding does On Holding AG have?
On Holding AG has 296,873,350 shares outstanding.
What happened to On Holding AG’s price movement after its last earnings report?
On Holding AG reported an EPS of $7.319 in its last earnings report, beating expectations of $7.109. Following the earnings report the stock price went down -21.115%.
Which hedge fund is a major shareholder of On Holding AG?
Currently, no hedge funds are holding shares in MX:ONONN
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
1
2
3
4
5
6
7
8
9
10
Analyst Consensus
Strong Buy
Average Price Target:
$710.47 (43.82% Upside)
$710.47 (43.82% Upside)
Blogger Sentiment
Bullish
MX:ONONN Sentiment 69%
Sector Average 57%
Sector Average 57%
Insider Transactions
Bought Shares
Worth $67.8M over
the Last 3 Months
the Last 3 Months
News Sentiment
Very Bullish
Bullish news 100%
Bearish news 0%
Bearish news 0%
Technicals
SMA
Negative
20 days / 200 days
Momentum
-36.88%
12-Months-Change
Fundamentals
Return on Equity
―
Trailing 12-Months
Asset Growth
25.81%
Trailing 12-Months
Learn more about TipRanks Smart Score
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.
ONONN 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 MX:ONONN earnings summariesONONN Stock 12 Month Forecast
Average Price Target
$710.47
▲(43.82% Upside)