On Holding AG (ONON)
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.
- Ticker
- ONON
- Exchange
- NYSE
- Sector
- Consumer Cyclical
- Industry
- Footwear & Accessories
- 52-week range
- $26.36 - $51.08
Valuation
- Share price
- $37.36 (close of Nov 6, 2026)
- P/E (TTM)
- 49.13x
- Price to book
- 5.54x
- Price to free cash flow
- 31.56x
Price performance
| Period | Change |
|---|---|
| 1 day | -0.48% |
| 5 days | +10.60% |
| 1 month | +12.77% |
| 3 months | +0.05% |
| 6 months | +3.61% |
| Year to date | -19.62% |
| 1 year | +5.21% |
| 3 years | +33.14% |
| 5 years | -4.67% |
| All time | +6.74% |
Short interest
- As of
- Oct 15, 2026
- Short % of float
- 13.23%
- Shares short
- 32.91M
- Days to cover
- 3.10
- Change since prior report
- +18.01%
- Source
- FINRA consolidated short interest
Members of Congress who disclosed ONON trades
Super investors holding ONON
Stephen Mandel (Lone Pine Capital LLC) · Ken Griffin (Citadel) · Bill Gates (Gates Foundation Trust) · Ray Dalio (Bridgewater Associates) · Polen Capital Mgmt (Polen Capital Management LLC) · First Eagle Investment (First Eagle Investment Management, LLC)
Profitability and growth
- Return on equity
- 12.48%
- Return on invested capital
- 17.43%
- Return on assets
- 7.18%
- Return on capital employed
- 17.86%
- Gross margin
- 62.83%
- Net margin
- 6.76%
- EBITDA margin
- 12.51%
- Revenue growth
- 30.01%
- Net income growth
- -15.93%
- Free cash flow growth
- -36.33%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 3.17%
- Current ratio
- 2.71x
- Net debt to EBITDA
- -1.41x
Latest reported year
- Period end
- Dec 31, 2025
- Fiscal year
- 2025
- Shares outstanding
- 328.55M
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|---|---|---|---|
| 2025-12-31 | 62.83% | 6.76% | 12.48% | 17.43% |
| 2024-12-31 | 60.63% | 10.45% | 17.41% | 10.01% |
| 2023-12-31 | 59.55% | 4.44% | 7.41% | 13.82% |
| 2022-12-31 | 56.04% | 4.72% | 5.95% | 5.74% |
| 2021-12-31 | 59.38% | -23.49% | -20.06% | -16.63% |
| 2020-12-31 | 54.34% | -6.47% | -11.22% | -6.98% |
| 2019-12-31 | 53.58% | -0.55% | -2.29% | - |
Investor relations
Next earnings report
- Next confirmed report
- Nov 10, 2026
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|---|---|
| 2026-08-11 | Jun 2026 | - |
| 2026-05-12 | Mar 2026 | - |
| 2026-03-03 | Dec 2025 | - |
| 2025-11-12 | Sep 2025 | - |
| 2025-08-12 | Jun 2025 | - |
| 2025-05-13 | Mar 2025 | - |
| 2025-03-04 | Dec 2024 | - |
| 2024-11-12 | Sep 2024 | - |
Filings and sources
- Company website
- on.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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All Consumer Cyclical companies
Understanding these figures
Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
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