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Company Analysis

On Holding AG ONON

A comprehensive view of key metrics, scores, and financial health for On Holding AG

Overview of On Holding AG

ONON NYQ
Consumer Cyclical Footwear & Accessories Large Cap
On Holding AG (ONON), is a Large Cap company, in the Footwear & Accessories industry, last closed at $37.99, about 70.2% overvalued vs fair value, -21.0% 1Y return, ranked 181/539 in sector.
$37.99
0.08%
As of March 13, 2026
Previous close • Vol 90d: 46.5%
52-Week Range
Market Cap
$13.72B
Enterprise Value
$13.20B
Overall Score
Scores locked

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Top Beats

Quick Facts

Website https://www.on.com
HQ Zurich
Employees 3,254
Fiscal year Dec 31

Next Events

Earnings May 12 Estimated

Fair Value Snapshot

Bear Base Bull
$10
$11
$13
Current: $37.99 -70% vs base

Engine Room Money Flow™

Large Cap

Corporate Free Cash Flow - Where revenue goes and how value is created

Flow Steps
Revenue
$2.3B
29.4%%
Gross Profit
$1.4B
31.7%%
Operating Income
$211.5M
17.4%%
Net Income
$242.3M
204.4%%
Money Flow Bridge
Flow Direction: Money moves from left to right
Components: Breakdown shows composition of each stage
Industry-Specific: Corporate Free Cash Flow

Quality & Reliability Indicators

Cash Conversion Ratio
183.9%
Excellent

FCF / Net Income - measures how well earnings convert to cash

Locked Metric
-
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Owner's Pocket - Capital Allocation

Total Returned to Shareholders

Combined dividends, buybacks, and debt reduction

$51.3M
11.5% of FCF

Where It Leaks

Cash Flow Health healthy
Strong cash conversion with minimal leakage across profit-to-cash-to-value chain.
1
Active Leaks
1/1
Improving
0
High Impact
0
Critical
Moat Analysis Corporate Default

Competitive Advantage Assessment

Evaluating On Holding AG's durable competitive advantages across 6 defense dimensions

Overall Moat Strength
63
/100
Moderate
Scores based on quantitative metrics and qualitative factors

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Pricing Power

Developing
37
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Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

Generic Industrial / Default vs Industry Peers 95% Coverage
Trade-Off Triangle Visualization A ternary plot showing ONON's balance between Growth (40.0%), Profitability (34.4%), and Safety (25.6%). Growth 40% Safety 26% Profitability 34%

Click axes to expand details. Marker shows current allocation.

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Growth

86th percentile vs peers
86
Key Signals
Rev Growth YoY 29.4% 92p Revenue CAGR 3Y 47.3% 84p EPS Growth YoY 2.02 83p TSR 30.7% 77p
Strengths
  • Growth performance in top 20% of peers (percentile: 86)
  • Rev Growth Yoy in top 20% of peers (29.4%, 92th percentile)
  • Revenue Cagr 3Y in top 20% of peers (47.3%, 84th percentile)
  • Eps Growth Yoy in top 20% of peers (2.02, 83th percentile)
Risks

No significant risks identified for this axis.

Profitability

74th percentile vs peers
74
Key Signals
Strengths
Risks
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Safety

55th percentile vs peers
55
Key Signals
Strengths
Safety drilldowns are available to premium members.

Two Futures

Scenario-based fair value ranges for On Holding AG.

Loading valuation model...
Unable to Compute Fair Value

This company cannot be valued using standard models.

What this means: The Scenario Theatre requires financial data (revenue, cash flow, shares outstanding) to calculate fair value estimates. This data may be unavailable for:

  • Recently listed companies (IPOs, SPACs)
  • Shell companies or holding companies
  • Companies that haven't filed recent financials
  • Foreign companies with limited data coverage
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Bear
-
- - -
- upside
-
Base
$11.34
- - -
-70.2% vs current
Snapshot base estimate
Bull
-
- - -
- upside
-
Fair Value Range Current: $-
$- $- $-
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