On Holding AG (ONON) Revenue History
Annual and quarterly revenue from 2019 to present
ONON Revenue Over Time (2019–2025)
ONON Revenue Growth History
6 of 6 years with positive growth- FY2019 revenue growth
- N/A
- FY2020 revenue growth
- +59.2%
- FY2021 revenue growth
- +70.4%
- FY2022 revenue growth
- +68.7%
- FY2023 revenue growth
- +46.6%
- FY2024 revenue growth
- +29.4%
- FY2025 revenue growth
- +24.2%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $850.5M | +17.0% |
| Q4 2025 | $738.1M | +21.7% |
| Q3 2025 | $794.4M | +24.9% |
| Q2 2025 | $749.2M | +32.0% |
| Q1 2025 | $726.6M | +43.0% |
| Q4 2024 | $606.6M | +35.7% |
| Q3 2024 | $635.8M | +32.3% |
| Q2 2024 | $567.7M | +27.8% |
Multi-year avg. share of annual revenue by fiscal quarter
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)
Current Revenue & Growth
As of June 22, 2026, On Holding AG (ONON) generated trailing twelve-month (TTM) revenue of $3.13 billion, reflecting strong growth of +17.0% year-over-year. The most recent quarter (Q1 2026) recorded $850.5 million in revenue, up 15.2% sequentially.
Historical Growth Trajectory
ONON's 5-year compound annual growth rate (CAGR) stands at +46.6%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +33.1% is below the 5-year average, signalling a growth deceleration in recent years. On Holding AG's highest annual revenue of $2.88 billion was recorded in 2025, an all-time high.
Revenue by Segment
ONON's revenue is primarily driven by Shoes (93%), Apparel (6%), and Accessories (1%). With over half of revenue concentrated in Shoes, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Consumer Cyclical sector peers — including NKE (-5.0% YoY), LULU (+4.2% YoY), and DECK (+9.7% YoY) — ONON has outperformed the peer group in 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 | $3.1B | +17.0% | +46.6% | 12.5% | |
 NKE | $46.3B | -5.0% | +4.4% | 8.0% | |
 LULU | $11.1B | +4.2% | +20.3% | 19.9% | |
 DECK | $5.5B | +9.7% | +16.5% | 22.8% | |
 BIRK | $2.1B | +12.0% | +23.6% | 26.2% | |
 UAA | $5.0B | -3.5% | +2.1% | -0.7% |
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 Stock Analysis
Deep dive into ONON consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
7+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
ONON — Frequently Asked Questions
Quick answers to the most common questions about buying ONON stock.
Is ONON's revenue growth accelerating or slowing?
ONON revenue growth is accelerating. TTM revenue reached $3.1B, up +17.0% year-over-year — ahead of the 5-year CAGR of +46.6%. This indicates the business is expanding faster than its historical baseline.
What is ONON's revenue history from 2019 to 2026?
On Holding AG (ONON) revenue history spans 2019 to 2026. TTM revenue as of 2026 is $3.1B, growing at +17.0% YoY. The 5-year CAGR is +46.6%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is ONON's long-term revenue growth rate (CAGR)?
On Holding AG's 5-year revenue CAGR of +46.6% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +17.0% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for ONON.
Why does ONON's quarterly revenue fluctuate?
ONON quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. On Holding AG's revenue data from 2019 to 2026 shows full historical quarterly detail on this page.
How is ONON's revenue distributed by segment?
ONON reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does ONON's revenue compare to industry peers?
On Holding AG (ONON) with TTM revenue of $3.1B and +17.0% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.