On Holding 将来の成長
Future 基準チェック /56
On Holding利益と収益がそれぞれ年間24.4%と14.9%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に22.6% 24.2%なると予測されています。
主要情報
24.4%
収益成長率
24.22%
EPS成長率
| Luxury 収益成長 | 18.4% |
| 収益成長率 | 14.9% |
| 将来の株主資本利益率 | 22.64% |
| アナリストカバレッジ | Good |
| 最終更新日 | 06 May 2026 |
今後の成長に関する最新情報
Recent updates
ナラティブ更新 • May 05
ONON: Brand Momentum And Founder Transition Will Support Future Margin Strength
Analysts have trimmed the average price target for On Holding slightly, reflecting modest reductions in fair value and future P/E assumptions, even as they still cite strong brand momentum, solid Q4 execution, and an upgrade from Raymond James as support for the stock. Analyst Commentary Recent research on On Holding reflects a mix of optimism around brand momentum and execution, paired with more cautious views on valuation and guidance.Seeking Alpha • Apr 30
On Holding: A Strong Business, But A Mispriced Stock
Summary On Holding is rated a buy, with fundamentals strong despite recent stock declines driven by FX losses and CEO transition. ONON delivered record revenue (CHF 3B), gross margin (62.8%), and adjusted EBITDA (CHF 567M), with robust DTC and Asia-Pacific growth. Valuation is attractive at 13x EV/forward EBITDA and 3x forward sales, with scenario analysis supporting a fair value in the high $40s. Key catalysts include Q1'26 earnings under new co-CEOs, Asia-Pacific expansion, and scaling of LightSpray manufacturing technology. Read the full article on Seeking Alphaナラティブ更新 • Apr 19
ONON: Premium Brand Momentum And Founder Led Structure Will Support Future Margins
Narrative update on analyst price target for On Holding The updated analyst price target for On Holding edges higher to around $56.70 from about $56.19, as analysts factor in slightly stronger modeled revenue growth and a modestly lower future P/E multiple, while tempering profit margin expectations and applying a marginally higher discount rate. Analyst Commentary Recent research on On Holding reflects a mix of optimism on long term brand strength and growth potential, alongside more cautious adjustments to price targets and forecasts after the latest quarterly results and updated guidance.ナラティブ更新 • Apr 05
ONON: Brand Momentum And Premium Positioning Will Support Future Margin Expansion
On Holding’s updated analyst price target edges slightly lower to about $56 from roughly $57.70, as analysts factor in modestly higher discount rates, small tweaks to long term profit and growth assumptions, and a slightly lower future P/E multiple following recent target cuts across the Street. Analyst Commentary Recent research updates present a mixed picture, with many firms trimming price targets while still pointing to solid execution and brand strength.ナラティブ更新 • Mar 22
ONON: Brand Momentum And Margin Expansion Will Offset FX And Guidance Headwinds
The analyst price target for On Holding has been trimmed by about $1 to reflect slightly lower revenue growth assumptions and a modestly reduced future P/E multiple, while still incorporating analyst views on solid brand momentum, improving profit margins, and ongoing foreign exchange and guidance-related pressures. Analyst Commentary Recent Street research shows a mixed but generally constructive stance on On Holding, with most firms trimming price targets while still pointing to supportive brand and margin trends, alongside some concerns around guidance, mix, and future profitability.ナラティブ更新 • Mar 07
ONON: Brand Momentum And Margin Expansion Will Support Future Upside
Our updated analyst price target for On Holding ticks lower to $58.65 from $61.90, reflecting slightly softer modeled revenue growth and P/E assumptions, even as analysts highlight brand strength, solid Q4 execution, and improving margin outlooks. Analyst Commentary Research houses are trimming price targets on On Holding, but most still point to a solid brand, supportive margins, and execution that they see as broadly on track, even as they recalibrate their models after Q4 and updated guidance.ナラティブ更新 • Feb 21
ONON: Channel Execution And Margin Discipline Will Support Future Upside
Analysts have trimmed their average price target for On Holding by around $0.57 as they factor in softer revenue growth and margin assumptions, following mixed rating changes and commentary on product segmentation and wholesale order trends. Analyst Commentary Recent research on On Holding reflects a split view, with some analysts focusing on long term growth opportunities while others pay closer attention to potential execution risks in product and wholesale channels.ナラティブ更新 • Feb 05
ONON: Beat And Raise Momentum Will Support Future Margin Expansion
Analysts now peg their fair value target for On Holding at about US$62.48, a small move from roughly US$62.32, as they balance recent target hikes tied to strong Q3 execution and margin views with more cautious calls that flag slower wholesale growth, higher direct to consumer costs, and a modest reset to future P/E assumptions. Analyst Commentary Street research on On Holding over the past few months shows a split tape, with several firms lifting price targets after what they describe as strong Q3 execution and a higher margin outlook, while others trim targets or ratings as they reassess wholesale growth and spending on direct to consumer.ナラティブ更新 • Jan 22
ONON: Beat And Raise Execution Will Support Future Margin Resilience
Analysts made only a slight trim to their fair value estimate for On Holding to about $62.32, as a small shift toward higher expected revenue growth and a richer future P/E multiple is being balanced by lower projected profit margins and a marginally higher discount rate, reflecting a blend of recent target cuts and raises across the Street. Analyst Commentary Recent research on On Holding reflects a mix of optimism and caution, with price targets moving both higher and lower around the latest quarterly results and company updates.ナラティブ更新 • Jan 07
ONON: Beat And Raise Momentum Will Support Stronger Margin Upside Ahead
Our updated fair value estimate for On Holding edges up to US$62.34 from US$62.08, as analysts factor in the Q3 beat and raised results, stronger margin assumptions, slightly higher long term revenue growth and profit margins, and a modestly lower forward P/E multiple reflected in recent Street price target revisions across US$52 to US$75. Analyst Commentary Street research around the Q3 update shows a mix of enthusiasm and valuation caution, with price targets clustered in a wide US$52 to US$75 range and ratings skewed toward positive stances.ナラティブ更新 • Dec 18
ONON: Beat And Raise Execution Will Support Premium Multiple Ahead
Analysts have nudged our fair value estimate for On Holding modestly higher to approximately $62 from about $61, reflecting slightly stronger long term revenue growth expectations, a marginally lower discount rate, and confidence in the company’s ability to sustain premium valuation multiples despite mixed but generally constructive changes in Street price targets. Analyst Commentary Street research following the Q3 report reflects a generally constructive stance on On Holding, with most firms acknowledging strong execution, durable growth, and robust brand momentum, even as some temper price targets to better reflect sector wide multiple compression and competitive risk.ナラティブ更新 • Dec 04
ONON: Margin Momentum And Beat And Raise Execution Will Drive Future Upside
Analysts have nudged our fair value estimate for On Holding slightly higher to approximately $61 per share. This reflects a blend of raised and trimmed Street price targets as they highlight continued beat and raise execution, improving margin visibility and robust global demand, partially offset by valuation and broader market concerns.ナラティブ更新 • Nov 20
ONON: Margin Gains And Execution Will Boost Future Performance Despite Sector Headwinds
Analysts have slightly reduced their average price target for On Holding by about $1 to approximately $61. Strong third quarter performance and ongoing margin improvements are balanced by cautious valuation adjustments and heightened competitive risks in the sector.ナラティブ更新 • Nov 05
ONON: Continued Execution Will Drive Future Share Price Upside Amid Increased Competition
The consensus analyst price target for On Holding has decreased from $65.45 to $62.29. Analysts cite heightened competition in footwear, sector valuation adjustments, and risks related to product diversification and the growth rate outlook.ナラティブ更新 • Oct 22
Analyst Commentary Reveals Mixed Views as On Holding Adjusts Guidance and Targets
Analysts have modestly reduced their price target for On Holding, reflecting a decrease from $66.04 to $65.45. This adjustment comes as they weigh heightened competition, sector valuation shifts, and evolving growth dynamics in key markets.ナラティブ更新 • Oct 08
DTC Channel Expansion And Global Reach Will Secure Future Success
The analyst price target for On Holding was revised downward by $0.72 to $66.04. Analysts cite concerns about slower growth and increased competition, even as strong performance continues.ナラティブ更新 • Sep 19
DTC Channel Expansion And Global Reach Will Secure Future Success
On Holding's consensus price target was modestly raised to $66.76 as analysts reflected optimism about sustained earnings outperformance and prudent guidance, though some remain cautious about potential growth deceleration and market limitations, resulting in only a slight upward revision in fair value. Analyst Commentary Bullish analysts expect multiple expansion as the company continues to deliver beat-and-raise earnings reports.ナラティブ更新 • Sep 04
DTC Channel Expansion And Global Reach Will Secure Future Success
Analysts remain divided on On Holding's outlook, with bullish sentiment driven by consistent revenue and earnings beats fueling optimism for valuation upside, while bearish concerns focus on slowing U.S. growth and market saturation risks, resulting in an unchanged consensus price target of $65.86. Analyst Commentary Bullish analysts see potential for On's valuation multiple to expand as the company consistently delivers revenue and earnings beats alongside upward guidance revisions.分析記事 • Aug 14
On Holding AG Just Missed Earnings With A Surprise Loss - Here Are Analysts Latest Forecasts
NYSE:ONON 1 Year Share Price vs Fair Value Explore On Holding's Fair Values from the Community and select yours It's...分析記事 • Jul 30
Here's Why On Holding (NYSE:ONON) Has Caught The Eye Of Investors
The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...分析記事 • Jun 11
On Holding (NYSE:ONON) Is Looking To Continue Growing Its Returns On Capital
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...分析記事 • May 16
On Holding AG (NYSE:ONON) Stocks Shoot Up 41% But Its P/E Still Looks Reasonable
On Holding AG ( NYSE:ONON ) shareholders would be excited to see that the share price has had a great month, posting a...Seeking Alpha • Mar 30
On Holding: 30% Off Highs, There's Room To Run Now
Summary On Holding AG, despite a recent 30% drop, is in high-growth mode, with strong revenue growth and potential profitability improvements driven by DTC sales and automation. Partnerships with celebrities like Zendaya and Roger Federer bolster On's brand, with Zendaya's upcoming footwear launch likely to drive significant attention and sales. The stock trades at 41x non-GAAP earnings, but strong future EPS and revenue growth projections suggest notable longer-term gains, despite current volatility. While competition and valuation present risks, On Holding's growth momentum and strategic initiatives make it a cautious Buy for long-term investors. Read the full article on Seeking AlphaSeeking Alpha • Feb 20
On Holding: Innovative Disruptor But Needs To Sustain Momentum
Summary On Holding has rapidly expanded from high-performance running shoes to premium apparel, hiking, tennis, and training gear, leveraging innovative CloudTec technology. Despite impressive sales growth and profitability, On Holding's valuation is high, with a P/E GAAP of 114.87 and EV/EBIT of 69.01. The company has shown strong revenue growth since its 2019 IPO, achieving a 44.85% CAGR and positive free cash flow since 2023. It boasts high gross profit margins at 60.18% and a leveraged FCF margin of 15.45%, significantly outperforming sector medians. Read the full article on Seeking AlphaSeeking Alpha • Jan 12
On Holding's Sprint Like Pace Due For A Breather: Examining The Growth Story
Summary On Holding's performance has been spectacular – after a post-IPO lull, shares traded from a low of $16 in October '22 to an impressive high of $59.54 in December '24. Recency bias aside - claims are being made that they’re the next Nike, Lulu, Hoka, etc. Sure, that’s a possibility, but the market cap of the company is already +$17B. I believe that shares are currently overvalued and that a correction is likely to occur to bring the valuation in-line with the growth outlook. Read the full article on Seeking AlphaSeeking Alpha • Jan 02
On Holding: Higher Growth Ahead, Still A Buy
Summary Following the Q3 results, we remain optimistic, as the company reached our 12-month target price. On Holding AG is among the world's fastest-growing athletic wear brands. ON is building a strong brand awareness, which suggests market share growth evolution. Low inventory level, DTC-led strategy, and a best-in-class gross margin make On a buy. Read the full article on Seeking AlphaSeeking Alpha • Dec 17
On Holding: Initiating At 'Buy' Despite Doubling In 2024
Summary On Holding is in a strong uptrend, supported by robust revenue growth and a successful direct-to-consumer strategy, despite high valuation concerns. The stock's valuation at 51X next year's earnings and a PEG ratio of ~2X is high, but growth prospects justify a Buy rating. On's focus on direct-to-consumer sales has boosted margins, with inventory management further supporting profitability and reducing the need for markdowns. Key risks include potential shifts in consumer preference and high valuation, but strong fundamentals and growth potential make On a Buy. Read the full article on Seeking Alpha
新しいナラティブ • Nov 24
Tactical Growth And Innovation Set To Propel Global Brand And Boost Market Share
Global brand awareness and strategic marketing are set to drive revenue growth through increased consumer engagement and market penetration.Seeking Alpha • Nov 14
On Holding's Q3 Results Show Sustained Growth And High Upside From LightSpray
Summary On Holding reported strong Q3 2024 results, achieving record sales, gross margin, and adjusted EBITDA margin, and raised its FY2024 net sales guidance. LightSpray technology has significant potential to disrupt the shoe market, driving efficiency, innovation, and long-term growth for On. Despite competitive risks, On's market share gains, brand awareness, and innovative technologies position it for sustained revenue growth and market-beating returns. I rate ONON stock a buy, seeing a reasonable valuation, and high growth potential from its innovative LightSpray Technology. Read the full article on Seeking AlphaSeeking Alpha • Oct 06
On Holding: Pricey, But Well Positioned
Summary On Holding shares are up significantly this year despite the lack of upside to the full-year guidance. The market is seemingly looking forward rather than back and has focused on the growth reacceleration in Q2 after five straight quarters of Y/Y revenue growth deceleration. The company is executing well and remains well positioned for long-term value creation. However, the valuation is near the high end of the two-year range and the stock now looks more vulnerable to a pullback, or a prolonged consolidation. Read the full article on Seeking AlphaSeeking Alpha • Sep 26
On Holding: This Is An Incredible Brand To Invest In, Even After Its YTD Rally
Summary On Holdings, a Swiss running shoe maker, has seen its shares nearly double this year as it captures market share from struggling Nike. Despite On's premium valuation after a sharp YTD rally, I rate it a buy due to its forward-looking strategy and ambitious growth plans. The company is nearly doubling its sales in China, and has plenty of opportunity as well to expand beyond footwear into apparel. On aims to double sales by 2026 and achieve an 18%+ adjusted EBITDA margin, showcasing traits of an ascendant brand. Read the full article on Seeking AlphaSeeking Alpha • Sep 05
On Holding: A Growth Stock To Buy
Summary The company delivered supportive Q2 results with lower inventory year-on-year. On Holding's strategy includes expanding into new sports and product categories, leveraging the Paris Olympics, growing in APAC, and enhancing brand loyalty and market share. On's focus on innovation, DTC selling, and premium pricing supports a long-term target price of $55 per share. Read the full article on Seeking AlphaSeeking Alpha • Aug 24
On Holding: Up 60% YTD, Still More Room To Run
Summary On Holding stock is up 60%+ YTD, outperforming peers by a wide margin. On's Revenue growth re-accelerated in Q2, despite warehouse challenges. The company's breakthrough LightSpray technology and warehouse automation could accelerate margin expansion. While the stock might take a breather after its recent run, it still has decent upside potential over the next few years. Read the full article on Seeking AlphaSeeking Alpha • Jul 29
On Holding Might Have Run Too Quick Too Fast
Summary On Holding is a growth company with impressive revenue growth, positive earnings, and strong gross margins. The company's unique marketing model focuses on the running niche, with a goal of revolutionizing the sensation of running. Future financials for ONON are uncertain due to currency adjustments, regional revenue variations, and challenges in forecasting accurately. Read the full article on Seeking AlphaSeeking Alpha • Jun 25
On Holding: The Next Consumer Apparel Juggernaut?
Summary Nike is the current champion of the consumer apparel market, with $50 billion in sales and $5 billion in profit over the last twelve months alone. ON Holding is a new challenger in the industry, and while the company's financials are a fraction of the size, the company sports significant growth potential and a unique appeal. While we're not sure about ON's ability to reach NKE in the short term, the company has demonstrated very strong product, marketing, and operational execution. Trading at a reasonable valuation for the potential growth, ONON is a 'Strong Buy' in our book. Read the full article on Seeking AlphaSeeking Alpha • Jun 18
8 Reasons To Buy On Holding
Summary On Holding stock is up more than 50% YTD. Despite its recent runup, I believe there's more upside for investors. For one, On could grow its Apparel and Accessories businesses 100x. In addition, the upcoming Olympics could serve as a catalyst for the stock. That said, here are eight reasons to be bullish on ONON. Read the full article on Seeking AlphaSeeking Alpha • May 18
On Holding: The Story Of David With The Growth Of Goliath
Summary On Holdings is a Swiss company that is gaining popularity in the running shoes and sportswear. The company could triple its sales and still would make less than some competitors like Under Armor today. There's a long run ahead. I think ON is currently a hold after having risen more than 20% post-Q1 2024 results, but I'll be waiting for a buy opportunity in the short term. Read the full article on Seeking Alpha業績と収益の成長予測
| 日付 | 収益 | 収益 | フリー・キャッシュフロー | 営業活動によるキャッシュ | 平均アナリスト数 |
|---|---|---|---|---|---|
| 12/31/2028 | 5,257 | 625 | 568 | 821 | 9 |
| 12/31/2027 | 4,255 | 480 | 524 | 633 | 26 |
| 12/31/2026 | 3,538 | 368 | 420 | 485 | 26 |
| 12/31/2025 | 3,014 | 204 | 281 | 360 | N/A |
| 9/30/2025 | 2,877 | 224 | 345 | 415 | N/A |
| 6/30/2025 | 2,718 | 136 | 348 | 416 | N/A |
| 3/31/2025 | 2,537 | 208 | 350 | 418 | N/A |
| 12/31/2024 | 2,318 | 242 | 446 | 511 | N/A |
| 9/30/2024 | 2,159 | 126 | 400 | 463 | N/A |
| 6/30/2024 | 2,004 | 154 | 360 | 412 | N/A |
| 3/31/2024 | 1,880 | 127 | 267 | 314 | N/A |
| 12/31/2023 | 1,792 | 80 | 185 | 232 | N/A |
| 9/30/2023 | 1,712 | 80 | -22 | 41 | N/A |
| 6/30/2023 | 1,559 | 42 | -175 | -99 | N/A |
| 3/31/2023 | 1,407 | 88 | -241 | -164 | N/A |
| 12/31/2022 | 1,222 | 58 | -310 | -227 | N/A |
| 9/30/2022 | 1,046 | -103 | -197 | -132 | N/A |
| 6/30/2022 | 936 | -110 | -192 | -138 | N/A |
| 3/31/2022 | 820 | -145 | -76 | -29 | N/A |
| 12/31/2021 | 725 | -170 | -19 | 17 | N/A |
| 9/30/2021 | 658 | 14 | -39 | -12 | N/A |
| 6/30/2021 | 570 | 9 | -4 | 17 | N/A |
| 3/31/2021 | 480 | -21 | -52 | -31 | N/A |
| 12/31/2020 | 425 | -27 | -33 | -15 | N/A |
| 12/31/2019 | 267 | -1 | -14 | -5 | N/A |
アナリストによる今後の成長予測
収入対貯蓄率: ONONの予測収益成長率 (年間24.4% ) は 貯蓄率 ( 3.5% ) を上回っています。
収益対市場: ONONの収益 ( 24.4% ) はUS市場 ( 16.4% ) よりも速いペースで成長すると予測されています。
高成長収益: ONONの収益は今後 3 年間で 大幅に 増加すると予想されています。
収益対市場: ONONの収益 ( 14.9% ) US市場 ( 11.4% ) よりも速いペースで成長すると予測されています。
高い収益成長: ONONの収益 ( 14.9% ) 20%よりも低い成長が予測されています。
一株当たり利益成長率予想
将来の株主資本利益率
将来のROE: ONONの 自己資本利益率 は、3年後には高くなると予測されています ( 22.6 %)
成長企業の発掘
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 | 2026/05/07 02:50 |
| 終値 | 2026/05/07 00:00 |
| 収益 | 2025/12/31 |
| 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 |
| |
| アナリストのコンセンサス予想 | +プラス3年 |
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| 市場価格 | 30年 |
| |
| 所有権 | 10年 |
| |
| マネジメント | 10年 |
| |
| 主な進展 | 10年 |
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* 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 Komp | Baird |
| Adrienne Yih-Tennant | Barclays |
| John Stansel | Berenberg |