ON

On Holding AG

ONONConsumer CyclicalNASDAQ

Footwear & Accessories

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Financials · Annual
Revenue
$3.01B
+30.0% YoY
Net Income
$203.7M
-15.9% YoY
EBITDA
$354.5M
-11.4% YoY
Free Cash Flow
$240.1M

Scan Results

Daily timeframe
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DateIndicatorDetails
Jul 11 MACD Positive CrossoverHistogram +0.1326, positive momentum
Jun 9 MACD Negative CrossoverHistogram -0.2678, negative momentum
About 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 company carries a $12.40B market cap, placing it firmly in the large-cap category. The company offers athletic footwear, apparel, and accessories for performance running, performance outdoor, performance all day, performance training, performance tennis, and young movers.

Key stats
Market Cap$12.40B
P/E (TTM)41.33
Fwd P/E17.34
EPS$0.90
Beta2.12
52W Change-30.0%
ROE15.5%
Analysis

The balance sheet looks solid with $1.02B in cash comfortably exceeding the $541.9M debt load. A net cash position generally provides financial flexibility during uncertain economic periods. Annual free cash flow of $240.1M supports ongoing capital allocation decisions and provides a cushion against unexpected expenses or downturns. ROE of 15.5% points to strong capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. An ROA of 9.7% suggests reasonable efficiency in deploying the company's asset base. Revenue has grown from $724.6M (2021) to $3.01B (2025), reflecting a 316% increase over the period.

A beta of 2.12 means ONON is more volatile than average. Investors should be prepared for wider price swings relative to broader indices. These risk factors are not exhaustive — macroeconomic shifts, regulatory changes, and competitive dynamics can all influence On Holding AG's trajectory.

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