On Holding（ONON N）株式概要オン・ホールディング社（On Holding AG）は、世界各地でスポーツ製品の開発・販売を行っている。 詳細ONON N ファンダメンタル分析スノーフレーク・スコア評価1/6将来の成長5/6過去の実績3/6財務の健全性6/6配当金0/6報酬当社が推定した公正価値より12.6%で取引されている 収益は年間23.04%増加すると予測されています 過去1年間で収益は20.6%増加しました リスク分析MX市場と比較して、過去 3 か月間の株価の変動が非常に大きいすべてのリスクチェックを見るONON N Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueMex$Current PriceMex$668.000.4% 割安 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-145m6b2016201920222025202620282031Revenue CHF 6.4bEarnings CHF 512.0mAdvancedSet Fair ValueView all narrativesOn Holding AG 競合他社Deckers OutdoorSymbol: NYSE:DECKMarket cap: US$13.9bASICSSymbol: TSE:7936Market cap: JP¥3.2tBirkenstock HoldingSymbol: NYSE:BIRKMarket cap: US$6.1bHuali Industrial GroupSymbol: SZSE:300979Market cap: CN¥43.6b価格と性能株価の高値、安値、推移の概要On Holding過去の株価現在の株価US$668.0052週高値US$1,132.0052週安値US$547.00ベータ2.091ヶ月の変化5.70%3ヶ月変化-22.33%1年変化-41.45%3年間の変化n/a5年間の変化n/aIPOからの変化0.69%最新ニュースRecent Insider Transactions • May 17Co-Founder recently bought Mex$38m worth of stockOn the 14th of May, Caspar Coppetti bought around 60k shares on-market at roughly Mex$631 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Caspar's only on-market trade for the last 12 months.Reported Earnings • May 14First quarter 2026 earnings released: EPS: CHF0.31 (vs CHF0.17 in 1Q 2025)First quarter 2026 results: EPS: CHF0.31 (up from CHF0.17 in 1Q 2025). Revenue: CHF831.9m (up 14% from 1Q 2025). Net income: CHF103.3m (up 82% from 1Q 2025). Profit margin: 12% (up from 7.8% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Luxury industry in South America.お知らせ • May 12On Holding AG Provides Earnings Guidance for the Year 2026On Holding AG provided earnings guidance for the year 2026. For the year, the company expects net sales to grow by at least 23% year-over-year on a constant currency basis. At current spot rates, this implies reported net sales of at least CHF 3.51 billion.お知らせ • Apr 29On Holding AG to Report Q1, 2026 Results on May 12, 2026On Holding AG announced that they will report Q1, 2026 results Pre-Market on May 12, 2026お知らせ • Apr 21On Holding AG, Annual General Meeting, May 28, 2026On Holding AG, Annual General Meeting, May 28, 2026.Valuation Update With 7 Day Price Move • Mar 26Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to Mex$576, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 9x in the Luxury industry in South America. Total loss to shareholders of 42% over the past year. Simply Wall St's valuation model estimates the intrinsic value at Mex$610 per share.最新情報をもっと見るRecent updatesRecent Insider Transactions • May 17Co-Founder recently bought Mex$38m worth of stockOn the 14th of May, Caspar Coppetti bought around 60k shares on-market at roughly Mex$631 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Caspar's only on-market trade for the last 12 months.Reported Earnings • May 14First quarter 2026 earnings released: EPS: CHF0.31 (vs CHF0.17 in 1Q 2025)First quarter 2026 results: EPS: CHF0.31 (up from CHF0.17 in 1Q 2025). Revenue: CHF831.9m (up 14% from 1Q 2025). Net income: CHF103.3m (up 82% from 1Q 2025). Profit margin: 12% (up from 7.8% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Luxury industry in South America.お知らせ • May 12On Holding AG Provides Earnings Guidance for the Year 2026On Holding AG provided earnings guidance for the year 2026. For the year, the company expects net sales to grow by at least 23% year-over-year on a constant currency basis. At current spot rates, this implies reported net sales of at least CHF 3.51 billion.お知らせ • Apr 29On Holding AG to Report Q1, 2026 Results on May 12, 2026On Holding AG announced that they will report Q1, 2026 results Pre-Market on May 12, 2026お知らせ • Apr 21On Holding AG, Annual General Meeting, May 28, 2026On Holding AG, Annual General Meeting, May 28, 2026.Valuation Update With 7 Day Price Move • Mar 26Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to Mex$576, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 9x in the Luxury industry in South America. Total loss to shareholders of 42% over the past year. Simply Wall St's valuation model estimates the intrinsic value at Mex$610 per share.お知らせ • Mar 25+ 2 more updatesOn Holding AG Announces CEO Changes, Effective May 1, 2026On Holding AG announced an update to its organizational structure as the company prepares to enter its next growth phase. Designed to even more closely connect founder-led strategic intent with execution, the updated model ensures On remains agile and decisive while continuing to scale. To drive the next phase of global expansion, co-founders David Allemann and Caspar Coppetti will serve as Co-CEOs. Following a successful 13-year tenure at On, Martin Hoffmann has chosen to step down as CEO. Effective May 1, 2026, David Allemann and Caspar Coppetti will assume the roles of Co-CEOs, while continuing as Executive Co-Chairmen of the Board. This facilitates their operational roles and brings the founders’ long-term stewardship into direct alignment with execution responsibility. Co-founder Olivier Bernhard will continue spearheading key performance product initiatives and athlete engagement as an Executive Member of the Board. With the strategic roadmap for continued growth in place, the four partners collectively recognize that this is the right moment for Martin Hoffmann to step down. Following a transformative 13-year tenure as CFO and five years as CEO, during which On evolved from a Swiss startup into a multi-billion dollar global leader, Martin has decided to take a planned hiatus and pursue philanthropic interests. In seamless partnership with the co-founders, Martin engineered the financial framework and strategic discipline and served as the essential link between On’s founder-led vision and the operational scale that transformed the company to the force it is today. He will step down from his roles effective May 1, 2026, will then ensure a smooth onboarding and transition to Frank Sluis, who joins as new CFO on May 1, 2026. Martin will then remain an advisor through March 2027.Buy Or Sell Opportunity • Mar 05Now 26% overvaluedOver the last 90 days, the stock has fallen 13% to Mex$756. The fair value is estimated to be Mex$601, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 42%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 24% per annum over the same time period.Reported Earnings • Mar 05Full year 2025 earnings released: EPS: CHF0.62 (vs CHF0.75 in FY 2024)Full year 2025 results: EPS: CHF0.62 (down from CHF0.75 in FY 2024). Revenue: CHF3.01b (up 30% from FY 2024). Net income: CHF203.7m (down 16% from FY 2024). Profit margin: 6.8% (down from 11% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Luxury industry in South America.お知らせ • Mar 03on Holding Ag Provides Revenue Guidance for 2026On Holding AG provides revenue guidance for 2026. For the period, the company expects net sales to grow by at least 23% year-over-year on a constant currency basis.お知らせ • Feb 11On Holding AG to Report Q4, 2025 Results on Mar 03, 2026On Holding AG announced that they will report Q4, 2025 results at 9:30 AM, US Eastern Standard Time on Mar 03, 2026お知らせ • Jan 28On Holding Ag Announces CFO ChangesOn Holding AG announced that Frank Sluis will join the company as Chief Financial Officer (CFO), effective May 1, 2026. Frank Sluis has more than 25 years of experience at leading consumer businesses, including finance leadership positions at Ahold Delhaize, Reckitt Benckiser, and Unilever. Most recently, Frank served as Chief Financial Officer for Europe & Indonesia at Ahold Delhaize, a position he held since 2021. In this role, he managed the financial operations for well over EUR 30 billion in annual net sales and led a large-scale international finance, procurement, and sourcing organization of approximately 800 professionals. Frank was born and raised in the Netherlands and over the course of his professional career has spent significant time internationally, including in the United States. Frank succeeds Martin Hoffmann, who took on an expanded role as sole Chief Executive Officer (CEO) last year, while continuing his CFO responsibilities. Martin will continue to oversee the Finance organization until Frank’s start date to ensure a seamless handover.Reported Earnings • Nov 14Third quarter 2025 earnings released: EPS: CHF0.36 (vs CHF0.094 in 3Q 2024)Third quarter 2025 results: EPS: CHF0.36 (up from CHF0.094 in 3Q 2024). Revenue: CHF794.4m (up 25% from 3Q 2024). Net income: CHF118.9m (up 290% from 3Q 2024). Profit margin: 15% (up from 4.8% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Luxury industry in South America.お知らせ • Nov 12on Holding Ag Provides Earnings Guidance for the Full Year 2025On Holding AG provides earnings guidance for the full year 2025. For the period, the company Net sales: Expected to grow by 34% year-over-year on a constant currency basis (previously at least 31%). At current spot rates, this corresponds to reported net sales of CHF 2.98 billion (previously CHF 2.91 billion).お知らせ • Oct 30On Holding AG to Report Q3, 2025 Results on Nov 12, 2025On Holding AG announced that they will report Q3, 2025 results Pre-Market on Nov 12, 2025Reported Earnings • Aug 14Second quarter 2025 earnings released: CHF0.12 loss per share (vs CHF0.095 profit in 2Q 2024)Second quarter 2025 results: CHF0.12 loss per share (down from CHF0.095 profit in 2Q 2024). Revenue: CHF749.2m (up 32% from 2Q 2024). Net loss: CHF40.9m (down 233% from profit in 2Q 2024). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Luxury industry in South America.Buy Or Sell Opportunity • Aug 12Now 24% overvaluedOver the last 90 days, the stock has fallen 19% to Mex$925. The fair value is estimated to be Mex$745, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Meanwhile, the company has become profitable.お知らせ • Aug 12On Holding AG Raises Earnings Guidance for the Full Year 2025On Holding AG raised earnings guidance for the full year 2025. For the year, company expected Net sales: to be up at least 31% year-over-year on a constant currency basis (previously up at least 28%) At current spot rates, this corresponds to reported net sales of at least CHF 2.91 billion (previously CHF 2.86 billion). This outlook continues to embed prudence given the still uncertain macro outlook. Gross profit margin: Expected to be in the range of 60.5-61.0% (previously 60.0-60.5%).お知らせ • Jul 30On Holding AG to Report Q2, 2025 Results on Aug 12, 2025On Holding AG announced that they will report Q2, 2025 results Pre-Market on Aug 12, 2025お知らせ • May 24on Announces the Election of Helena Helmersson as an Additional Independent Member of the Board of Directors as Well as a Member of the Nomination and Compensation CommitteeOn announced the election of Helena Helmersson as an additional independent member of the Board of Directors as well as a member of the Nomination and Compensation Committee. Ms. Helmersson brings a wealth of experience from her long-standing career in the fashion industry. She served as the Chief Executive Officer of H&M Group from 2020 to 2024. She began her career at H&M in 1997 as a business controller in the company’s buying office and advanced through key leadership roles. From 2010 to 2014, she served as the Head of Sustainability, leading the company’s environmental and social initiatives. Ms. Helmersson then held the position of Global Head of Production from 2015 to 2018, overseeing the company’s sourcing and supply chain operations. Prior to becoming CEO of H&M, she served as its Chief Operating Officer from 2018 to 2020. Ms. Helmersson also serves as a board member of the digital training company Quizrr and as a chairperson of Circulose, a textile-to-textile recycling company. Ms. Helmersson holds a Master of Science degree in International Business from Umeå University, Sweden.Buy Or Sell Opportunity • May 19Now 23% overvalued after recent price riseOver the last 90 days, the stock has risen 7.6% to Mex$1,165. The fair value is estimated to be Mex$950, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 18% per annum. Earnings are also forecast to grow by 23% per annum over the same time period.お知らせ • May 14On Holding AG Revises Earnings Guidance for the Full Year 2025On Holding AG revised earnings guidance for the full year 2025. Following a strong start to the year and continued global demand for the On brand across channels, regions and products, the company raises its full-year 2025 net sales guidance, and now expects to reach at least 28% growth on a constant currency basis, equivalent to CHF 2.86 billion at current spot rates.Reported Earnings • May 14First quarter 2025 earnings released: EPS: CHF0.17 (vs CHF0.28 in 1Q 2024)First quarter 2025 results: EPS: CHF0.17 (down from CHF0.28 in 1Q 2024). Revenue: CHF726.6m (up 43% from 1Q 2024). Net income: CHF56.7m (down 38% from 1Q 2024). Profit margin: 7.8% (down from 18% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Luxury industry in South America.お知らせ • Apr 30On Holding AG to Report Q1, 2025 Results on May 13, 2025On Holding AG announced that they will report Q1, 2025 results Pre-Market on May 13, 2025Valuation Update With 7 Day Price Move • Apr 04Investor sentiment deteriorates as stock falls 25%After last week's 25% share price decline to Mex$740, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 9x in the Luxury industry in South America. Simply Wall St's valuation model estimates the intrinsic value at Mex$681 per share.お知らせ • Apr 02On Announces Executive AppointmentsOn announced the appointment of four key senior leaders, attracting top talent from across industries: Katarina Berg as Chief People Officer, starting August 1, 2025, joining from Spotify where she held the position of Chief Human Resources Officer; Scott Maguire as Chief Innovation Officer, started March 31, 2025, joining from Specialized where he served as CEO, and previously from Dyson where he was the COO; Adib Sisani as Chief Communications Officer, starting April 1, 2025, joining from Axel Springer, where he was Global Head of Communications; Craig Jones as Chief Supply Chain Officer, started March 10, 2025, joining from Levi Strauss, where he held the position of SVP of Distribution and Logistics Operations These strategic additions, along with the highly accomplished team of existing leaders, demonstrate On's commitment to building a world-class group of senior leaders to drive innovation, foster a strong company culture, and enhance its global brand presence.Valuation Update With 7 Day Price Move • Mar 12Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to Mex$900, the stock trades at a forward P/E ratio of 48x. Average forward P/E is 10x in the Luxury industry in South America. Simply Wall St's valuation model estimates the intrinsic value at Mex$668 per share.Reported Earnings • Mar 04Full year 2024 earnings releasedFull year 2024 results: Revenue: CHF2.32b (up 29% from FY 2023). Net income: CHF242.3m (up 204% from FY 2023). Profit margin: 11% (up from 4.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Luxury industry in South America.お知らせ • Mar 04on Holding AG Provides Earnings Guidance for the Year 2025On Holding AG provided earnings guidance for the year 2025. For the full year 2025, On expects to achieve a constant currency growth rate of at least 27%, translating to net sales of at least CHF 2.94 billion at current spot rates.お知らせ • Feb 12On Holding AG to Report Q4, 2024 Results on Mar 04, 2025On Holding AG announced that they will report Q4, 2024 results Pre-Market on Mar 04, 2025Reported Earnings • Nov 14Third quarter 2024 earnings released: EPS: CHF0.095 (vs CHF0.18 in 3Q 2023)Third quarter 2024 results: EPS: CHF0.095 (down from CHF0.18 in 3Q 2023). Revenue: CHF635.8m (up 32% from 3Q 2023). Net income: CHF30.5m (down 48% from 3Q 2023). Profit margin: 4.8% (down from 12% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Luxury industry in South America.Buy Or Sell Opportunity • Nov 09Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 35% to Mex$975. The fair value is estimated to be Mex$798, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years. Earnings per share has grown by 87%. For the next 3 years, revenue is forecast to grow by 20% per annum. Earnings are also forecast to grow by 24% per annum over the same time period.お知らせ • Oct 30On Holding AG to Report Q3, 2024 Results on Nov 12, 2024On Holding AG announced that they will report Q3, 2024 results Pre-Market on Nov 12, 2024Reported Earnings • Aug 14Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: CHF567.7m (up 28% from 2Q 2023). Net income: CHF30.8m (up CHF27.5m from 2Q 2023). Profit margin: 5.4% (up from 0.7% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Luxury industry in South America.お知らせ • Jul 31On Holding AG to Report Q2, 2024 Results on Aug 13, 2024On Holding AG announced that they will report Q2, 2024 results Pre-Market on Aug 13, 2024株主還元ONON NMX LuxuryMX 市場7D3.3%0%0%1Y-41.5%0%0%株主還元を見る業界別リターン: ONON N過去 1 年間で-11.8 % の収益を上げたMX Luxury業界を下回りました。リターン対市場: ONON Nは、過去 1 年間で15.6 % のリターンを上げたMX市場を下回りました。価格変動Is ONON N's price volatile compared to industry and market?ONON N volatilityONON N Average Weekly Movement9.5%Luxury Industry Average Movement0%Market Average Movement0%10% most volatile stocks in MX Market0%10% least volatile stocks in MX Market0%安定した株価: ONON Nの株価は、 MX市場と比較して過去 3 か月間で変動しています。時間の経過による変動: ONON Nの weekly volatility ( 10% ) は過去 1 年間安定していますが、依然としてMXの株式の 75% よりも高くなっています。会社概要設立従業員CEO（最高経営責任者ウェブサイト20103,963David Allemannwww.on.comオン・ホールディングAGは、世界中でスポーツ製品の開発・販売を行っている。同社は、高性能ランニング、アウトドア、トレーニング、終日活動、テニス用のアスレチックフットウェア、アパレル、アクセサリーを提供している。同社は、独立系小売店やディストリビューター、オンラインショップ、店舗を通じて製品を提供している。同社は2010年に設立され、スイスのチューリッヒに本社を置いている。もっと見るOn Holding AG 基礎のまとめOn Holding の収益と売上を時価総額と比較するとどうか。ONON N 基礎統計学時価総額Mex$224.37b収益（TTM）Mex$5.51b売上高(TTM)Mex$68.63b40.7xPER（株価収益率3.3xP/SレシオONON N は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計ONON N 損益計算書（TTM）収益CHF 3.12b売上原価CHF 1.13b売上総利益CHF 1.99bその他の費用CHF 1.74b収益CHF 250.30m直近の収益報告Mar 31, 2026次回決算日該当なし一株当たり利益（EPS）0.76グロス・マージン63.88%純利益率8.02%有利子負債／自己資本比率0%ONON N の長期的なパフォーマンスは？過去の実績と比較を見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/22 04:14終値2026/05/21 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋On Holding AG 26 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。34 アナリスト機関Jonathan KompBairdAdrienne Yih-TennantBarclaysJohn StanselBerenberg31 その他のアナリストを表示
Recent Insider Transactions • May 17Co-Founder recently bought Mex$38m worth of stockOn the 14th of May, Caspar Coppetti bought around 60k shares on-market at roughly Mex$631 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Caspar's only on-market trade for the last 12 months.
Reported Earnings • May 14First quarter 2026 earnings released: EPS: CHF0.31 (vs CHF0.17 in 1Q 2025)First quarter 2026 results: EPS: CHF0.31 (up from CHF0.17 in 1Q 2025). Revenue: CHF831.9m (up 14% from 1Q 2025). Net income: CHF103.3m (up 82% from 1Q 2025). Profit margin: 12% (up from 7.8% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Luxury industry in South America.
お知らせ • May 12On Holding AG Provides Earnings Guidance for the Year 2026On Holding AG provided earnings guidance for the year 2026. For the year, the company expects net sales to grow by at least 23% year-over-year on a constant currency basis. At current spot rates, this implies reported net sales of at least CHF 3.51 billion.
お知らせ • Apr 29On Holding AG to Report Q1, 2026 Results on May 12, 2026On Holding AG announced that they will report Q1, 2026 results Pre-Market on May 12, 2026
お知らせ • Apr 21On Holding AG, Annual General Meeting, May 28, 2026On Holding AG, Annual General Meeting, May 28, 2026.
Valuation Update With 7 Day Price Move • Mar 26Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to Mex$576, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 9x in the Luxury industry in South America. Total loss to shareholders of 42% over the past year. Simply Wall St's valuation model estimates the intrinsic value at Mex$610 per share.
Recent Insider Transactions • May 17Co-Founder recently bought Mex$38m worth of stockOn the 14th of May, Caspar Coppetti bought around 60k shares on-market at roughly Mex$631 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Caspar's only on-market trade for the last 12 months.
Reported Earnings • May 14First quarter 2026 earnings released: EPS: CHF0.31 (vs CHF0.17 in 1Q 2025)First quarter 2026 results: EPS: CHF0.31 (up from CHF0.17 in 1Q 2025). Revenue: CHF831.9m (up 14% from 1Q 2025). Net income: CHF103.3m (up 82% from 1Q 2025). Profit margin: 12% (up from 7.8% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Luxury industry in South America.
お知らせ • May 12On Holding AG Provides Earnings Guidance for the Year 2026On Holding AG provided earnings guidance for the year 2026. For the year, the company expects net sales to grow by at least 23% year-over-year on a constant currency basis. At current spot rates, this implies reported net sales of at least CHF 3.51 billion.
お知らせ • Apr 29On Holding AG to Report Q1, 2026 Results on May 12, 2026On Holding AG announced that they will report Q1, 2026 results Pre-Market on May 12, 2026
お知らせ • Apr 21On Holding AG, Annual General Meeting, May 28, 2026On Holding AG, Annual General Meeting, May 28, 2026.
Valuation Update With 7 Day Price Move • Mar 26Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to Mex$576, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 9x in the Luxury industry in South America. Total loss to shareholders of 42% over the past year. Simply Wall St's valuation model estimates the intrinsic value at Mex$610 per share.
お知らせ • Mar 25+ 2 more updatesOn Holding AG Announces CEO Changes, Effective May 1, 2026On Holding AG announced an update to its organizational structure as the company prepares to enter its next growth phase. Designed to even more closely connect founder-led strategic intent with execution, the updated model ensures On remains agile and decisive while continuing to scale. To drive the next phase of global expansion, co-founders David Allemann and Caspar Coppetti will serve as Co-CEOs. Following a successful 13-year tenure at On, Martin Hoffmann has chosen to step down as CEO. Effective May 1, 2026, David Allemann and Caspar Coppetti will assume the roles of Co-CEOs, while continuing as Executive Co-Chairmen of the Board. This facilitates their operational roles and brings the founders’ long-term stewardship into direct alignment with execution responsibility. Co-founder Olivier Bernhard will continue spearheading key performance product initiatives and athlete engagement as an Executive Member of the Board. With the strategic roadmap for continued growth in place, the four partners collectively recognize that this is the right moment for Martin Hoffmann to step down. Following a transformative 13-year tenure as CFO and five years as CEO, during which On evolved from a Swiss startup into a multi-billion dollar global leader, Martin has decided to take a planned hiatus and pursue philanthropic interests. In seamless partnership with the co-founders, Martin engineered the financial framework and strategic discipline and served as the essential link between On’s founder-led vision and the operational scale that transformed the company to the force it is today. He will step down from his roles effective May 1, 2026, will then ensure a smooth onboarding and transition to Frank Sluis, who joins as new CFO on May 1, 2026. Martin will then remain an advisor through March 2027.
Buy Or Sell Opportunity • Mar 05Now 26% overvaluedOver the last 90 days, the stock has fallen 13% to Mex$756. The fair value is estimated to be Mex$601, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 42%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 24% per annum over the same time period.
Reported Earnings • Mar 05Full year 2025 earnings released: EPS: CHF0.62 (vs CHF0.75 in FY 2024)Full year 2025 results: EPS: CHF0.62 (down from CHF0.75 in FY 2024). Revenue: CHF3.01b (up 30% from FY 2024). Net income: CHF203.7m (down 16% from FY 2024). Profit margin: 6.8% (down from 11% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Luxury industry in South America.
お知らせ • Mar 03on Holding Ag Provides Revenue Guidance for 2026On Holding AG provides revenue guidance for 2026. For the period, the company expects net sales to grow by at least 23% year-over-year on a constant currency basis.
お知らせ • Feb 11On Holding AG to Report Q4, 2025 Results on Mar 03, 2026On Holding AG announced that they will report Q4, 2025 results at 9:30 AM, US Eastern Standard Time on Mar 03, 2026
お知らせ • Jan 28On Holding Ag Announces CFO ChangesOn Holding AG announced that Frank Sluis will join the company as Chief Financial Officer (CFO), effective May 1, 2026. Frank Sluis has more than 25 years of experience at leading consumer businesses, including finance leadership positions at Ahold Delhaize, Reckitt Benckiser, and Unilever. Most recently, Frank served as Chief Financial Officer for Europe & Indonesia at Ahold Delhaize, a position he held since 2021. In this role, he managed the financial operations for well over EUR 30 billion in annual net sales and led a large-scale international finance, procurement, and sourcing organization of approximately 800 professionals. Frank was born and raised in the Netherlands and over the course of his professional career has spent significant time internationally, including in the United States. Frank succeeds Martin Hoffmann, who took on an expanded role as sole Chief Executive Officer (CEO) last year, while continuing his CFO responsibilities. Martin will continue to oversee the Finance organization until Frank’s start date to ensure a seamless handover.
Reported Earnings • Nov 14Third quarter 2025 earnings released: EPS: CHF0.36 (vs CHF0.094 in 3Q 2024)Third quarter 2025 results: EPS: CHF0.36 (up from CHF0.094 in 3Q 2024). Revenue: CHF794.4m (up 25% from 3Q 2024). Net income: CHF118.9m (up 290% from 3Q 2024). Profit margin: 15% (up from 4.8% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Luxury industry in South America.
お知らせ • Nov 12on Holding Ag Provides Earnings Guidance for the Full Year 2025On Holding AG provides earnings guidance for the full year 2025. For the period, the company Net sales: Expected to grow by 34% year-over-year on a constant currency basis (previously at least 31%). At current spot rates, this corresponds to reported net sales of CHF 2.98 billion (previously CHF 2.91 billion).
お知らせ • Oct 30On Holding AG to Report Q3, 2025 Results on Nov 12, 2025On Holding AG announced that they will report Q3, 2025 results Pre-Market on Nov 12, 2025
Reported Earnings • Aug 14Second quarter 2025 earnings released: CHF0.12 loss per share (vs CHF0.095 profit in 2Q 2024)Second quarter 2025 results: CHF0.12 loss per share (down from CHF0.095 profit in 2Q 2024). Revenue: CHF749.2m (up 32% from 2Q 2024). Net loss: CHF40.9m (down 233% from profit in 2Q 2024). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Luxury industry in South America.
Buy Or Sell Opportunity • Aug 12Now 24% overvaluedOver the last 90 days, the stock has fallen 19% to Mex$925. The fair value is estimated to be Mex$745, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Meanwhile, the company has become profitable.
お知らせ • Aug 12On Holding AG Raises Earnings Guidance for the Full Year 2025On Holding AG raised earnings guidance for the full year 2025. For the year, company expected Net sales: to be up at least 31% year-over-year on a constant currency basis (previously up at least 28%) At current spot rates, this corresponds to reported net sales of at least CHF 2.91 billion (previously CHF 2.86 billion). This outlook continues to embed prudence given the still uncertain macro outlook. Gross profit margin: Expected to be in the range of 60.5-61.0% (previously 60.0-60.5%).
お知らせ • Jul 30On Holding AG to Report Q2, 2025 Results on Aug 12, 2025On Holding AG announced that they will report Q2, 2025 results Pre-Market on Aug 12, 2025
お知らせ • May 24on Announces the Election of Helena Helmersson as an Additional Independent Member of the Board of Directors as Well as a Member of the Nomination and Compensation CommitteeOn announced the election of Helena Helmersson as an additional independent member of the Board of Directors as well as a member of the Nomination and Compensation Committee. Ms. Helmersson brings a wealth of experience from her long-standing career in the fashion industry. She served as the Chief Executive Officer of H&M Group from 2020 to 2024. She began her career at H&M in 1997 as a business controller in the company’s buying office and advanced through key leadership roles. From 2010 to 2014, she served as the Head of Sustainability, leading the company’s environmental and social initiatives. Ms. Helmersson then held the position of Global Head of Production from 2015 to 2018, overseeing the company’s sourcing and supply chain operations. Prior to becoming CEO of H&M, she served as its Chief Operating Officer from 2018 to 2020. Ms. Helmersson also serves as a board member of the digital training company Quizrr and as a chairperson of Circulose, a textile-to-textile recycling company. Ms. Helmersson holds a Master of Science degree in International Business from Umeå University, Sweden.
Buy Or Sell Opportunity • May 19Now 23% overvalued after recent price riseOver the last 90 days, the stock has risen 7.6% to Mex$1,165. The fair value is estimated to be Mex$950, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 18% per annum. Earnings are also forecast to grow by 23% per annum over the same time period.
お知らせ • May 14On Holding AG Revises Earnings Guidance for the Full Year 2025On Holding AG revised earnings guidance for the full year 2025. Following a strong start to the year and continued global demand for the On brand across channels, regions and products, the company raises its full-year 2025 net sales guidance, and now expects to reach at least 28% growth on a constant currency basis, equivalent to CHF 2.86 billion at current spot rates.
Reported Earnings • May 14First quarter 2025 earnings released: EPS: CHF0.17 (vs CHF0.28 in 1Q 2024)First quarter 2025 results: EPS: CHF0.17 (down from CHF0.28 in 1Q 2024). Revenue: CHF726.6m (up 43% from 1Q 2024). Net income: CHF56.7m (down 38% from 1Q 2024). Profit margin: 7.8% (down from 18% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Luxury industry in South America.
お知らせ • Apr 30On Holding AG to Report Q1, 2025 Results on May 13, 2025On Holding AG announced that they will report Q1, 2025 results Pre-Market on May 13, 2025
Valuation Update With 7 Day Price Move • Apr 04Investor sentiment deteriorates as stock falls 25%After last week's 25% share price decline to Mex$740, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 9x in the Luxury industry in South America. Simply Wall St's valuation model estimates the intrinsic value at Mex$681 per share.
お知らせ • Apr 02On Announces Executive AppointmentsOn announced the appointment of four key senior leaders, attracting top talent from across industries: Katarina Berg as Chief People Officer, starting August 1, 2025, joining from Spotify where she held the position of Chief Human Resources Officer; Scott Maguire as Chief Innovation Officer, started March 31, 2025, joining from Specialized where he served as CEO, and previously from Dyson where he was the COO; Adib Sisani as Chief Communications Officer, starting April 1, 2025, joining from Axel Springer, where he was Global Head of Communications; Craig Jones as Chief Supply Chain Officer, started March 10, 2025, joining from Levi Strauss, where he held the position of SVP of Distribution and Logistics Operations These strategic additions, along with the highly accomplished team of existing leaders, demonstrate On's commitment to building a world-class group of senior leaders to drive innovation, foster a strong company culture, and enhance its global brand presence.
Valuation Update With 7 Day Price Move • Mar 12Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to Mex$900, the stock trades at a forward P/E ratio of 48x. Average forward P/E is 10x in the Luxury industry in South America. Simply Wall St's valuation model estimates the intrinsic value at Mex$668 per share.
Reported Earnings • Mar 04Full year 2024 earnings releasedFull year 2024 results: Revenue: CHF2.32b (up 29% from FY 2023). Net income: CHF242.3m (up 204% from FY 2023). Profit margin: 11% (up from 4.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Luxury industry in South America.
お知らせ • Mar 04on Holding AG Provides Earnings Guidance for the Year 2025On Holding AG provided earnings guidance for the year 2025. For the full year 2025, On expects to achieve a constant currency growth rate of at least 27%, translating to net sales of at least CHF 2.94 billion at current spot rates.
お知らせ • Feb 12On Holding AG to Report Q4, 2024 Results on Mar 04, 2025On Holding AG announced that they will report Q4, 2024 results Pre-Market on Mar 04, 2025
Reported Earnings • Nov 14Third quarter 2024 earnings released: EPS: CHF0.095 (vs CHF0.18 in 3Q 2023)Third quarter 2024 results: EPS: CHF0.095 (down from CHF0.18 in 3Q 2023). Revenue: CHF635.8m (up 32% from 3Q 2023). Net income: CHF30.5m (down 48% from 3Q 2023). Profit margin: 4.8% (down from 12% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Luxury industry in South America.
Buy Or Sell Opportunity • Nov 09Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 35% to Mex$975. The fair value is estimated to be Mex$798, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years. Earnings per share has grown by 87%. For the next 3 years, revenue is forecast to grow by 20% per annum. Earnings are also forecast to grow by 24% per annum over the same time period.
お知らせ • Oct 30On Holding AG to Report Q3, 2024 Results on Nov 12, 2024On Holding AG announced that they will report Q3, 2024 results Pre-Market on Nov 12, 2024
Reported Earnings • Aug 14Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: CHF567.7m (up 28% from 2Q 2023). Net income: CHF30.8m (up CHF27.5m from 2Q 2023). Profit margin: 5.4% (up from 0.7% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Luxury industry in South America.
お知らせ • Jul 31On Holding AG to Report Q2, 2024 Results on Aug 13, 2024On Holding AG announced that they will report Q2, 2024 results Pre-Market on Aug 13, 2024
