Want to see ONON full AI Analyst Report?
ONON Stock Chart & Stats
$35.82
$0.98(2.81%)
At close: 4:00 PM EDT
$35.82
$0.98(2.81%)
Day’s Range― - ―
52-Week Range$30.11 - $52.20
Previous CloseN/A
Volume7.05M
Average Volume (3M)4.45M
Market Cap
$12.84B
Enterprise Value$10.89K
Total Cash (Recent Filing)$1.02B
Total Debt (Recent Filing)$598.11M
Price to Earnings (P/E)32.6
Beta1.57
Next Earnings
Nov 17, 2026EPS Estimate
0.48Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)0.77
Shares Outstanding296,873,350
10 Day Avg. Volume3,780,603
30 Day Avg. Volume4,451,267
Financial Highlights & Ratios
PEG Ratio-3.70
Price to Book (P/B)7.43
Price to Sales (P/S)4.22
P/FCF Ratio47.98
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$49.12Price Target Upside37.12% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering18
EPS Forecast (FY)1.41
Revenue Forecast (FY)$3.56B
Bulls Say, Bears Say
Bulls Say
Direct-to-Consumer MomentumSustained high DTC growth and nearly half of sales from the company's own channels strengthen margins, customer data capture and brand control. Over the next several quarters, a DTC-led mix supports margin resilience, repeatability of sales and lower reliance on promotional wholesale dynamics.
High And Expanding Gross MarginsConsistently elevated gross margins (~65%) and near-20% adjusted EBITDA reflect durable pricing power from premium positioning and product differentiation. These structural margin levels create room to invest in innovation and marketing while preserving profitability through typical industry cycles in the medium term.
Strong Balance Sheet And Cash GenerationA net cash position above CHF 1.2bn and positive trailing FCF give On notable financial flexibility to fund R&D, scale DTC and absorb near-term inventory swings. This liquidity reduces refinancing risk and supports strategic choices without forcing value-destructive measures over the next several quarters.
Bears Say
Inventory BuildA ~30% inventory increase elevates working-capital needs and raises risk of markdowns if wholesale sell-through softens. Excess stock can compress near-term cash conversion and margin sustainability, requiring active sell-in calibration and disciplined pricing to avoid margin erosion in coming quarters.
Wholesale Sell-in Reductions And Channel RiskDeliberate wholesale cutbacks protect brand premium but reduce near-term wholesale volumes, creating a revenue cadence shift and greater dependence on DTC to maintain growth. If DTC or product rollouts underperform, wholesale weakness in promotional markets could extend slower top-line recovery.
Tariff UncertaintyElevated U.S. tariffs and uncertain timing for refunds introduce structural timing risk to margins and cash flow. Expected retroactive benefits not yet recognized mean margins and free cash conversion could remain pressured until refunds are realized, complicating short-to-medium term planning.
On Holding AG News
ONON FAQ
What was On Holding Ag Class A’s price range in the past 12 months?
On Holding Ag Class A lowest stock price was $30.11 and its highest was $52.20 in the past 12 months.
What is On Holding Ag Class A’s market cap?
On Holding Ag Class A’s market cap is $12.84B.
When is On Holding Ag Class A’s upcoming earnings report date?
On Holding Ag Class A’s upcoming earnings report date is Nov 17, 2026 which is in 97 days.
How were On Holding Ag Class A’s earnings last quarter?
On Holding Ag Class A released its earnings results on Aug 11, 2026. The company reported $0.431 earnings per share for the quarter, beating the consensus estimate of $0.419 by $0.012.
Is On Holding Ag Class A overvalued?
According to Wall Street analysts On Holding Ag Class A’s price is currently Undervalued.
Does On Holding Ag Class A pay dividends?
On Holding Ag Class A does not currently pay dividends.
What is On Holding Ag Class A’s EPS estimate?
On Holding Ag Class A’s EPS estimate is 0.48.
How many shares outstanding does On Holding Ag Class A have?
On Holding Ag Class A has 296,873,350 shares outstanding.
What happened to On Holding Ag Class A’s price movement after its last earnings report?
On Holding Ag Class A reported an EPS of $0.431 in its last earnings report, beating expectations of $0.419. Following the earnings report the stock price went down -20.294%.
Which hedge fund is a major shareholder of On Holding Ag Class A?
Currently, no hedge funds are holding shares in ONON
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology
On Holding AG Stock Smart Score
Outperform
1
2
3
4
5
6
7
8
9
10
Analyst Consensus
Strong Buy
Average Price Target:
$49.12 (37.12% Upside)
$49.12 (37.12% Upside)
Blogger Sentiment
Bullish
ONON Sentiment 82%
Sector Average ―
Sector Average ―
Hedge Fund Trend
Increased
By 174.9K Shares
Last Quarter.
Last Quarter.
Insider Transactions
Bought Shares
Worth $6.5M over
the Last 3 Months
the Last 3 Months
Crowd Wisdom
Neutral
Last 7 Days ▲ 0.7%
Last 30 Days ▼ 0.7%
Last 30 Days ▼ 0.7%
News Sentiment
Neutral
Bullish news 52%
Bearish news 48%
Bearish news 48%
Technicals
SMA
Negative
20 days / 200 days
Momentum
-26.98%
12-Months-Change
Fundamentals
Return on Equity
―
Trailing 12-Months
Asset Growth
34.91%
Trailing 12-Months
Company Description
On Holding Ag Class A
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 rest of the Americas, and the Asia-Pacific. The company offers athletic footwear, apparel, and accessories for performance running, performance outdoor, performance all day, performance training, performance tennis, and young movers. It sells its products to athletes and active customers through wholesale and direct-to-consumer channels; run specialty, general sporting goods, outdoor, luxury, street fashion, and lifestyle retailers; owned retail stores; and e-commerce platforms. On Holding AG was founded in 2010 and is headquartered in Zurich, Switzerland.
ONON Earnings Call
Q2 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call presents a strong set of financial and commercial achievements: double-digit constant-currency revenue growth, exceptional gross margin expansion (65.4%), robust DTC momentum (34.3% CC growth; 45.7% of sales), large APAC and apparel outperformance, meaningful innovation milestones, and a fortified balance sheet (net cash > CHF 1.2bn). The primary near-term challenges are deliberate wholesale sell-in reductions—mainly in the Americas—resulting in moderated wholesale growth, an inventory increase (~30%), and exposure to a promotional wholesale environment and tariff timing. Management frames the wholesale actions as strategic and temporary to protect premium positioning and to set up a stronger innovation-led 2027 rollout. Given the breadth and scale of the operational, product and financial positives versus a limited set of intentional, strategic near-term trade-offs, the overall tone is decidedly favorable.View all ONON earnings summariesONON Stock 12 Month Forecast
Average Price Target
$49.12
▲(37.12% Upside)
Technical Analysis
Ownership Overview
7.32% Insiders
20.01% Mutual Funds
6.18% Other Institutional Investors
64.73% Public Companies and Individual Investors