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| 1 Year | 5 Year | 5 Year Annualized | Since IPO | |
|---|---|---|---|---|
| ONON | -16.29% | N/A | N/A | +18% |
| S&P | +17.45% | +75.43% | +11.88% | +50% |
On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, an own online presence, and its own high-end stores. The company was founded by David Allemann, Olivier Bernhard, and Caspar Coppetti on September 28, 2012 and is headquartered in Zurich, Switzerland.
The combination of growth, high margins, and value are too good to pass up.
On Holding has a following willing to pay up for its sportswear brand.
| Q4 2025 | YOY Change | |
|---|---|---|
| Revenue | $930.65M | 34.6% |
| Gross Profit | $594.70M | 38.5% |
| Gross Margin | 63.90% | 1.8% |
| Market Cap | $15.35B | -12.5% |
| Market Cap / Employee | $3.87M | 0.0% |
| Employees | 4K | 21.8% |
| Net Income | $86.46M | -15.3% |
| EBITDA | $146.39M | 57.2% |
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| Q4 2025 | YOY Change | |
|---|---|---|
| Net Cash | $1.29B | 26.2% |
| Accounts Receivable | $385.48M | 42.0% |
| Inventory | 529.9 | 14.6% |
| Q4 2025 | YOY Change | |
|---|---|---|
| Long Term Debt | $559.29M | 74.7% |
| Short Term Debt | $174.06M | 42.9% |
| Q4 2025 | YOY Change | |
|---|---|---|
| Return On Assets | 7.85% | -4.3% |
| Return On Invested Capital | -0.15% | 3.4% |
| Q4 2025 | YOY Change | |
|---|---|---|
| Free Cash Flow | $101.01M | -37.7% |
| Operating Free Cash Flow | $134.49M | -26.5% |
| Metric | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | YoY Change |
|---|---|---|---|---|---|
| Price to Earnings | 60.78 | 111.46 | 52.39 | 61.62 | -3.84% |
| Price to Book | 9.26 | 10.30 | 7.88 | 7.92 | -32.89% |
| Price to Sales | 5.12 | 5.47 | 4.16 | 4.27 | -37.58% |
| Price to Tangible Book Value | 9.67 | 10.72 | 8.20 | 8.21 | -33.74% |
| Price to Free Cash Flow TTM | 38.04 | 44.01 | 36.00 | 46.83 | 28.82% |
| Enterprise Value to EBITDA | 120.38 | 110.86 | 69.51 | 102.32 | -45.37% |
| Free Cash Flow Yield | 2.6% | 2.3% | 2.8% | 2.1% | -22.37% |
| Return on Equity | 15.8% | 9.7% | 15.4% | 13.8% | -29.52% |
| Total Debt | $443.06M | $692.59M | $703.95M | $733.35M | 65.90% |
A consumer goods company hit 40% yearly revenue growth. In this environment?
We also take a look at On Holding's appeal for shoe lovers and stockholders.
Did you think we were done with footwear IPOs? Think again!
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