On Holding AG (ONON) Revenue History
Annual and quarterly revenue from 2019 to 2025
Compound Annual Growth Rate (CAGR)
Loading revenue history...
ONON Revenue Growth
Revenue Breakdown (FY 2025)
ONON's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
ONON Revenue Analysis (2019–2025)
As of May 8, 2026, On Holding AG (ONON) generated trailing twelve-month (TTM) revenue of $3.01 billion, reflecting exceptional growth of +21.7% year-over-year. The most recent quarter (Q4 2025) recorded $738.1 million in revenue, down 7.1% sequentially.
Looking at the longer-term picture, ONON's 5-year compound annual growth rate (CAGR) stands at +46.6%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $2.88 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows ONON's business is primarily driven by Shoes (93%), Apparel (6%), and Accessories (1%). With over half of revenue concentrated in Shoes, the company maintains significant focus in this area while developing other growth vectors.
When compared to Consumer Cyclical sector peers including NKE (-5.0% YoY), LULU (+4.9% YoY), and DECK (+9.2% YoY), ONON has outperformed the peer group in terms of revenue growth. Compare ONON vs NKE →
ONON Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| ONONCurrent | $3.0B | +21.7% | +46.6% | 12.5% | |
 NKE | $46.3B | -5.0% | +4.4% | 8.0% | |
 LULU | $11.1B | +4.9% | +20.3% | 19.9% | |
 DECK | $5.0B | +9.2% | +18.5% | 23.6% | |
 BIRK | $2.1B | +14.5% | +23.6% | 26.2% | |
 UAA | $5.2B | -6.4% | -0.4% | -3.6% |
ONON Historical Revenue Data (2019–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $2.88B | +24.2% | $1.81B | 62.8% | $360.1M | 12.5% |
| 2024 | $2.32B | +29.4% | $1.41B | 60.6% | $211.6M | 9.1% |
| 2023 | $1.79B | +46.6% | $1.07B | 59.6% | $180.2M | 10.1% |
| 2022 | $1.22B | +68.7% | $684.9M | 56.0% | $85.1M | 7.0% |
| 2021 | $724.6M | +70.4% | $430.3M | 59.4% | $-141,100,000 | -19.5% |
| 2020 | $425.3M | +59.2% | $231.1M | 54.3% | $-17,100,000 | -4.0% |
| 2019 | $267.1M | - | $143.1M | 53.6% | $5.7M | 2.1% |
Full ONON Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
See ONON's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs ONON Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare ONON vs AMZN
Side-by-side business, growth, and profitability comparison vs Amazon.com, Inc..
Start ComparisonONON — Frequently Asked Questions
Quick answers to the most common questions about buying ONON stock.
Is ONON's revenue growth accelerating or slowing?
ONON revenue is accelerating at +21.7% year-over-year, exceeding the 5-year CAGR of +46.6%. TTM revenue reached $3.0B. Growth momentum has increased versus prior periods.
What is ONON's long-term revenue growth rate?
On Holding AG's 5-year revenue CAGR of +46.6% reflects the sustained expansion pattern. Current YoY growth of +21.7% is above this long-term average.
How is ONON's revenue distributed by segment?
ONON reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2019-2025 are available for download. Segment mix reveals concentration and diversification trends.