On Holding AG demonstrates robust double-digit revenue growth (13.5% YoY in 2026Q2) with gross margin expanding to 65.4%, driven by pricing power and DTC mix gains.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue growth remains strong at 13.5% YoY in 2026Q2, with gross margin expanding to 65.4% from 61.5% a year ago, while operating margin improved to 14.0% from 12.4%, reflecting effective cost control and operating leverage.
Wall Street consensus price target of $54.36 represents a potential upside of +42.8% from current trading price.
The company has a market capitalization of $12.69B, indicating significant investor interest and valuation.
Known for its innovative running shoes and distinct design aesthetic, On Holding AG has a strong brand appeal.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Aug 11, 2026 | $0.44+4.7% vs $0.42 | $1.1B-3.0% vs $1.1B |
Q2 2026 May 12, 2026 | $0.47+39.6% vs $0.34 | $1.0B+1.3% vs $1.0B |
Q2 2026 Mar 3, 2026 | $0.31+19.2% vs $0.26 | $938M+2.4% vs $916M |
Q4 2025 Nov 12, 2025 | $0.50+53.7% vs $0.33 | $999M+4.3% vs $957M |
Monster Beverage maintains dominance in the energy drink market through its global distribution partnership with Coca-Cola. On Holding continues to deliver explosive revenue growth as it scales its premium performance footwear and apparel brands globally.
On Holding (ONON) closed at $32.17 in the latest trading session, marking a -3.01% move from the prior day.
Shares of On Holding AG ONON fell sharply Tuesday after soccer star Kylian Mbappe's comments sparked a backlash in China, raising concerns about the Swiss sportswear company's brand in a key growth market. On shares dropped close to 4% in early trading after opening the week on a high with a 2% gain on Monday.
Diversify Advisory Services LLC cut its position in shares of On Holding AG (NYSE: ONON) by 93.1% during the undefined quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,148 shares of the company's stock after selling 287,549 shares during the quarter. Diversify Advisory Services
Benchmark ONON against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for On Holding AG (ONON)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $37.36 | $12.45B | 25.83 | 30.01% | 12.31% | 23.26% | — | |
| $38.59 | $57.11B | 18.52 | 0.19% | 6.74% | 21.24% | 4.21% | |
| $110.79 | $12.58B | 8.82 | 4.86% | 12.78% | 29.73% | — | |
| $86.71 | $11.81B | 11.07 | 9.76% | 19% | 43.56% | — | |
| $37.32 | $6.86B | 17.92 | 16.22% | 14.82% | 12.12% | — | |
| $5.28 | $2.25B | -4.79 | -3.86% | -9.79% | -33.1% | — |
On Holding AG (ONON) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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On Holding AG (ONON) stock FAQ — growth, dividends, profitability & financials explained
On Holding AG (ONON) reported $3.24B in revenue over the trailing twelve months. Revenue was $3.01B in fiscal year 2025. That is 1028% more than the $267.1M of fiscal year 2019.
On Holding AG (ONON) grew revenue by 19.2% over the trailing twelve months, compared with the twelve months before.
Yes. On Holding AG (ONON) earned $398.6M in net income over the trailing twelve months (a 12.3% net margin).
On Holding AG (ONON) had a return on equity (ROE) of 23.3% over the trailing twelve months. That is well above the market's typical 10-15%.
On Holding AG (ONON) generated $424.2M in free cash flow over the trailing twelve months.
