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Consumer Cyclical - Apparel - Retail - NYSE - CH
$ 48.47
-1.41 %
$ 15.7 B
Market Cap
53.56
P/E
1. INTRINSIC VALUE

This DCF valuation model was last updated on May, 7, 2025.

The intrinsic value of one ONON stock under the worst case scenario is HIDDEN Compared to the current market price of 48.5 USD, On Holding AG is HIDDEN

This DCF valuation model was last updated on May, 7, 2025.

The intrinsic value of one ONON stock under the base case scenario is HIDDEN Compared to the current market price of 48.5 USD, On Holding AG is HIDDEN

This DCF valuation model was last updated on May, 7, 2025.

The intrinsic value of one ONON stock under the best case scenario is HIDDEN Compared to the current market price of 48.5 USD, On Holding AG is HIDDEN

2. FUNDAMENTAL ANALYSIS

Price Chart ONON

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$65.0$65.0$60.0$60.0$55.0$55.0$50.0$50.0$45.0$45.0$40.0$40.0$35.0$35.015 Nov15 NovDec '24Dec '2415 Dec15 DecJan '25Jan '2515 Jan15 JanFeb '25Feb '2515 Feb15 FebMar '25Mar '2515 Mar15 MarApr '25Apr '2515 Apr15 AprMay '25May '25
FINANCIALS
2.32 B REVENUE
29.36%
212 M OPERATING INCOME
17.43%
242 M NET INCOME
224.90%
511 M OPERATING CASH FLOW
119.99%
-64.9 M INVESTING CASH FLOW
-37.79%
-55.4 M FINANCING CASH FLOW
-154.13%
607 M REVENUE
-4.59%
53.1 M OPERATING INCOME
-26.86%
89.6 M NET INCOME
193.77%
169 M OPERATING CASH FLOW
6.63%
-19.7 M INVESTING CASH FLOW
-2.60%
-15.6 M FINANCING CASH FLOW
-11.43%
Balance Sheet On Holding AG
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Current Assets 1.76 B
Cash & Short-Term Investments 981 M
Receivables 292 M
Other Current Assets 488 M
Non-Current Assets 617 M
Long-Term Investments 0
PP&E 451 M
Other Non-Current Assets 166 M
41.26 %12.26 %20.52 %18.97 %6.99 %Total Assets$2.4b
Current Liabilities 660 M
Accounts Payable 166 M
Short-Term Debt 59.1 M
Other Current Liabilities 435 M
Non-Current Liabilities 324 M
Long-Term Debt 288 M
Other Non-Current Liabilities 36 M
16.91 %6.00 %44.15 %29.29 %3.66 %Total Liabilities$984.9m
EFFICIENCY
Earnings Waterfall On Holding AG
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Revenue 2.32 B
Cost Of Revenue 913 M
Gross Profit 1.41 B
Operating Expenses 1.19 B
Operating Income 212 M
Other Expenses -30.7 M
Net Income 242 M
3b3b2b2b2b2b1b1b500m500m002b(913m)1b(1b)212m31m242mRevenueRevenueCost Of RevenueCost Of RevenueGross ProfitGross ProfitOperating ExpensesOperating ExpensesOperating IncomeOperating IncomeOther ExpensesOther ExpensesNet IncomeNet Income
RATIOS
60.63% GROSS MARGIN
60.63%
9.13% OPERATING MARGIN
9.13%
10.45% NET MARGIN
10.45%
17.41% ROE
17.41%
10.19% ROA
10.19%
10.32% ROIC
10.32%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis On Holding AG
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500m500m400m400m300m300m200m200m100m100m00(100m)(100m)(200m)(200m)(300m)(300m)(400m)(400m)202020202021202120222022202320232024202420252025
Net Income 242 M
Depreciation & Amortization 105 M
Capital Expenditures -65 M
Stock-Based Compensation 57.5 M
Change in Working Capital 142 M
Others 22.7 M
Free Cash Flow 446 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets On Holding AG
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Wall Street analysts predict an average 1-year price target for ONON of $54.1 , with forecasts ranging from a low of $40 to a high of $73 .
ONON Lowest Price Target Wall Street Target
40 USD -17.47%
ONON Average Price Target Wall Street Target
54.1 USD 11.72%
ONON Highest Price Target Wall Street Target
73 USD 50.61%
Price
Max Price Target
Min Price Target
Average Price Target
757570706565606055555050454540403535Jun '24Jun '24Jul '24Jul '24Aug '24Aug '24Oct '24Oct '24Nov '24Nov '2420252025Feb '25Feb '25Apr '25Apr '25Jun '25Jun '25Jul '25Jul '25Aug '25Aug '25Oct '25Oct '25Nov '25Nov '2520262026Feb '26Feb '26Apr '26Apr '26
4. DIVIDEND ANALYSIS
5. COMPETITION
slide 2 of 11
6. Ownership
Insider Ownership On Holding AG
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Sold
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
0 USD 0
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
7. News
On Holding: Watch The Narrative (Rating Upgrade) On Holding AG has continued to rapidly capture market share in running shoes, solidifying the company's position in the industry. Competition remains noteworthy regardless. The Q1 report is set to continue On's brand growth story. The future outlook is important in the report, amid tariff uncertainty. The current growth narrative supports ONON's expensive valuation. While I estimate upside to a fair value of $57.5, potential changes in the narrative are still quick to change the value. seekingalpha.com - 1 week ago
On Holding (ONON) Falls More Steeply Than Broader Market: What Investors Need to Know In the most recent trading session, On Holding (ONON) closed at $48.20, indicating a -1.41% shift from the previous trading day. zacks.com - 1 week ago
On Holding (ONON) Expected to Beat Earnings Estimates: Should You Buy? On Holding (ONON) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations. zacks.com - 1 week ago
Why Investors Need to Take Advantage of These 2 Retail and Wholesale Stocks Now Why investors should use the Zacks Earnings ESP tool to help find stocks that are poised to top quarterly earnings estimates. zacks.com - 2 weeks ago
Baron Focused Growth Fund Q1 2025 Top Contributors And Detractors xAI Holdings' leading AI model Grok 3 outperformed competitors, bolstered by the Colossus data center and Twitter acquisition, enhancing data integration and corporate alignment. Spotify delivered strong performance driven by margin improvements, user growth, and product innovation, positioning it as a long-term winner in music streaming. Guidewire Software is poised to capture significant market share in the P&C insurance software industry. seekingalpha.com - 2 weeks ago
3 Consumer Discretionary Stocks to Buy in a Divided Economy According to many economists, low to middle-income consumers are strapped and taking a break from spending as they reduce the debt they accumulated on credit cards. Another group of consumers continues to spend but does so selectively. marketbeat.com - 2 weeks ago
GAP or ONON: Which Is the Better Value Stock Right Now? Investors interested in Retail - Apparel and Shoes stocks are likely familiar with Gap (GAP) and On Holding (ONON). But which of these two stocks offers value investors a better bang for their buck right now? zacks.com - 2 weeks ago
On to Release First Quarter 2025 Results on Tuesday, May 13, 2025 ZURICH--(BUSINESS WIRE)--On to Release First Quarter 2025 Results on Tuesday, May 13, 2025. businesswire.com - 2 weeks ago
New Strong Buy Stocks for April 25th USNZY, GPOR, ORC, FIX and ONON have been added to the Zacks Rank #1 (Strong Buy) List on April 25, 2025. zacks.com - 3 weeks ago
James Anderson Provides Update on Holdings of MyndTec Inc. Detroit, Michigan--(Newsfile Corp. - April 24, 2025) - James Anderson (the "Investor") announces update to his ownership of common shares in the capital of MyndTec Inc. (the "Issuer") (the "Common Shares") and common share purchase warrants of the Issuer (the "Warrants"). On April 24, 2025, the Issuer completed the first tranche (the "First Tranche") of a private placement of units ("Units") announced on January 30, 2025. newsfilecorp.com - 3 weeks ago
Here is What to Know Beyond Why On Holding AG (ONON) is a Trending Stock On Holding (ONON) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects. zacks.com - 3 weeks ago
GAP or ONON: Which Is the Better Value Stock Right Now? Investors with an interest in Retail - Apparel and Shoes stocks have likely encountered both Gap (GAP) and On Holding (ONON). But which of these two stocks presents investors with the better value opportunity right now? zacks.com - 1 month ago
8. Profile Summary

On Holding AG ONON

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COUNTRY CH
INDUSTRY Apparel - Retail
MARKET CAP $ 15.7 B
Dividend Yield 0.00%
Description On Holding AG develops and distributes sports products worldwide. It offers athletic footwear, apparel, and accessories. The company offers its products through independent retailers and distributors, online, and stores. On Holding AG was founded in 2010 and is headquartered in Zurich, Switzerland.
Contact Pfingstweidstrasse 106, Zurich, 8005 https://www.on-running.com
IPO Date Sept. 15, 2021
Employees 3254
Officers Julie Pender General Counsel & Company Secretary Mr. Samuel Wenger Chief Operating Officer Mr. Narek Verdian Chief Technology Officer Mr. Caspar Coppetti Co-Founder & Executive Co-Chairman Mr. Marc Maurer Co-Chief Executive Officer Mr. Gerald Marolf Chief Product Officer Mr. David Allemann Co-Founder & Executive Co-Chairman Mr. Olivier Bernhard Co-Founder & Executive Director Mr. Martin Hoffmann Co-Chief Executive Officer & Chief Financial Officer Mr. Alex Griffin Chief Marketing Officer