On Holding (ONON03) Stock Overview

Engages in the development and distribution of sports products worldwide. More details

ONON03 fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	5/6
Past Performance	2/6
Financial Health	6/6
Dividends	0/6

Rewards

Trading at 23.5% below our estimate of its fair value

Earnings are forecast to grow 35.14% per year

Risk Analysis

Shares are highly illiquid

Profit margins (5%) are lower than last year (7.7%)

ONON03 Community Fair Values

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On Holding AG Competitors

Price History & Performance

Summary of share price highs, lows and changes for On Holding
Historical stock prices
Current Share Price	US$2.76
52 Week High	US$2.80
52 Week Low	US$2.66
Beta	2.2
1 Month Change	n/a
3 Month Change	n/a
1 Year Change	n/a
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	2.22%

Recent News & Updates

No updates

Recent updates

No updates

Shareholder Returns

	ONON03	TH Luxury	TH Market
7D	n/a	-1.1%	-0.2%
1Y	n/a	-21.4%	-11.6%

Return vs Industry: Insufficient data to determine how ONON03 performed against the TH Luxury industry.

Return vs Market: Insufficient data to determine how ONON03 performed against the TH Market.

Price Volatility

Is ONON03's price volatile compared to industry and market?
ONON03 volatility
ONON03 Average Weekly Movement	n/a
Luxury Industry Average Movement	6.3%
Market Average Movement	4.4%
10% most volatile stocks in TH Market	10.4%
10% least volatile stocks in TH Market	2.1%

Stable Share Price: ONON03's share price has been volatile over the past 3 months compared to the TH market.

Volatility Over Time: Insufficient data to determine ONON03's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
2010	3,254	Martin Hoffmann	www.on.com/en-in

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.

On Holding AG Fundamentals Summary

How do On Holding's earnings and revenue compare to its market cap?
ONON03 fundamental statistics
Market cap	฿452.12b
Earnings (TTM)	฿5.54b
Revenue (TTM)	฿110.90b

81.5x

P/E Ratio

4.1x

P/S Ratio

Is ONON03 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
ONON03 income statement (TTM)
Revenue	CHF 2.72b
Cost of Revenue	CHF 1.06b
Gross Profit	CHF 1.66b
Other Expenses	CHF 1.52b
Earnings	CHF 135.90m

Last Reported Earnings

Jun 30, 2025

Next Earnings Date

n/a

Earnings per share (EPS)	0.42
Gross Margin	61.00%
Net Profit Margin	5.00%
Debt/Equity Ratio	0%

How did ONON03 perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/10/07 23:20
End of Day Share Price	2025/10/07 00:00
Earnings	2025/06/30
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

On Holding AG is covered by 37 analysts. 26 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Jonathan Komp	Baird
Adrienne Yih-Tennant	Barclays
John Stansel	Berenberg