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ONON Stock Chart & Stats
$28.83
$0.98(2.81%)
At close: 4:00 PM EDT
$28.83
$0.98(2.81%)
Day’s Range― - ―
52-Week Range$26.37 - $51.08
Previous CloseN/A
Volume7.05M
Average Volume (3M)11.38M
Market Cap
$11.66B
Enterprise Value$11.16B
Total Cash (Recent Filing)$1.24B
Total Debt (Recent Filing)$562.50M
Price to Earnings (P/E)23.9
Beta1.60
Next Earnings
Nov 17, 2026EPS Estimate
0.46Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)1.20
Shares Outstanding296,873,350
10 Day Avg. Volume10,227,103
30 Day Avg. Volume11,381,045
Financial Highlights & Ratios
PEG Ratio-4.69
Price to Book (P/B)7.43
Price to Sales (P/S)4.03
P/FCF Ratio47.98
Enterprise Value/Market Cap0.96
Enterprise Value/Revenue3.45
Enterprise Value/Gross Profit5.32
Enterprise Value/Ebitda19.17
Forecast
1Y Price Target
$42.90Price Target Upside48.82% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering23
EPS Forecast (FY)1.43
Revenue Forecast (FY)$3.51B
Bulls Say, Bears Say
Bulls Say
Revenue And Margin GrowthStrong sales growth alongside gross-margin expansion indicates that On is scaling without sacrificing profitability. The combination of broad demand, premium pricing and operating leverage supports durable earnings growth and provides resources for continued investment in products, stores and international expansion.
Direct-to-consumer MomentumRapid DTC growth increases control over customer relationships, presentation and pricing while generally improving channel economics. A larger owned-channel mix can strengthen brand equity, support fuller-price selling and reduce reliance on wholesale partners over the next several quarters.
Expansion Beyond Core RunningExpansion across apparel, lifestyle sneakers and additional sports categories broadens On’s addressable market beyond its original running-shoe franchise. If execution remains effective, these platforms can increase customer frequency, diversify revenue and extend the brand’s long-term growth runway.
Bears Say
Wholesale Growth PressureSlower wholesale growth and promotional conditions can make sell-through less predictable and pressure the timing of revenue. Although management is protecting full-price integrity, weaker partner-channel momentum may constrain near-term growth and require successful innovation to restore demand.
Elevated InventoryA substantial inventory increase raises the importance of disciplined sell-through as management calibrates wholesale shipments. If demand or channel timing disappoints, excess stock could require additional promotions, tie up working capital and make margin performance less consistent.
Cash-flow VariabilityPast periods of negative operating and free cash flow show that reported profitability has not always translated smoothly into cash generation. Working-capital and investment swings could therefore limit the consistency of internally funded growth and complicate capital-allocation planning.
On Holding AG News
ONON FAQ
What was On Holding AG’s price range in the past 12 months?
On Holding AG lowest stock price was $26.36 and its highest was $51.08 in the past 12 months.
What is On Holding AG’s market cap?
On Holding AG’s market cap is $11.66B.
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 27 days.
How were On Holding AG’s earnings last quarter?
On Holding AG released its earnings results on Aug 11, 2026. The company reported $0.424 earnings per share for the quarter, beating the consensus estimate of $0.412 by $0.012.
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 0.46.
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 $0.424 in its last earnings report, beating expectations of $0.412. Following the earnings report the stock price went down -20.294%.
Which hedge fund is a major shareholder of On Holding AG?
Currently, no hedge funds are holding shares in ONON
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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10
Analyst Consensus
Strong Buy
Average Price Target:
$42.90 (48.82% Upside)
$42.90 (48.82% Upside)
Blogger Sentiment
Bullish
ONON Sentiment 66%
Sector Average 61%
Sector Average 61%
Hedge Fund Trend
Increased
By 14.4M Shares
Last Quarter.
Last Quarter.
Insider Transactions
Bought Shares
Worth $3.9M over
the Last 3 Months
the Last 3 Months
Crowd Wisdom
Very Positive
Last 7 Days ▼ 1.0%
Last 30 Days ▲ 5.4%
Last 30 Days ▲ 5.4%
News Sentiment
Very Bullish
Bullish news 100%
Bearish news 0%
Bearish news 0%
Technicals
SMA
Negative
20 days / 200 days
Momentum
-15.32%
12-Months-Change
Fundamentals
Return on Equity
23.26%
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.
ONON 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 ONON earnings summariesONON Stock 12 Month Forecast
Average Price Target
$42.90
▲(48.82% Upside)
Technical Analysis
Ownership Overview
7.37% Insiders
20.01% Mutual Funds
0.45% Other Institutional Investors
70.29% Public Companies and Individual Investors