ON HOLDING AG-CLASS A (ONON) Fundamental Analysis & Valuation

NYSE:ONON • CH1134540470

Current stock price

33.03 USD
-1.74 (-5%)
At close:
33.06 USD
+0.03 (+0.09%)
Pre-Market:

This ONON fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. ONON Profitability Analysis

1.1 Basic Checks

  • ONON had positive earnings in the past year.
  • In the past year ONON had a positive cash flow from operations.
  • ONON had positive earnings in 4 of the past 5 years.
  • ONON had a positive operating cash flow in 4 of the past 5 years.
ONON Yearly Net Income VS EBIT VS OCF VS FCFONON Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2019 2020 2021 2022 2023 2024 2025 0 200M -200M 400M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 7.19%, ONON is in the better half of the industry, outperforming 80.00% of the companies in the same industry.
  • ONON's Return On Equity of 12.48% is fine compared to the rest of the industry. ONON outperforms 71.11% of its industry peers.
  • With an excellent Return On Invested Capital value of 14.11%, ONON belongs to the best of the industry, outperforming 82.22% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for ONON is in line with the industry average of 11.53%.
  • The 3 year average ROIC (11.64%) for ONON is below the current ROIC(14.11%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 7.19%
ROE 12.48%
ROIC 14.11%
ROA(3y)7.46%
ROA(5y)2.56%
ROE(3y)12.43%
ROE(5y)4.64%
ROIC(3y)11.64%
ROIC(5y)N/A
ONON Yearly ROA, ROE, ROICONON Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2019 2020 2021 2022 2023 2024 2025 0 10 -10 -20

1.3 Margins

  • With an excellent Profit Margin value of 6.76%, ONON belongs to the best of the industry, outperforming 82.22% of the companies in the same industry.
  • In the last couple of years the Profit Margin of ONON has grown nicely.
  • Looking at the Operating Margin, with a value of 12.51%, ONON belongs to the top of the industry, outperforming 82.22% of the companies in the same industry.
  • ONON's Operating Margin has improved in the last couple of years.
  • With an excellent Gross Margin value of 62.83%, ONON belongs to the best of the industry, outperforming 84.44% of the companies in the same industry.
  • In the last couple of years the Gross Margin of ONON has grown nicely.
Industry RankSector Rank
OM 12.51%
PM (TTM) 6.76%
GM 62.83%
OM growth 3Y21.56%
OM growth 5YN/A
PM growth 3Y12.7%
PM growth 5YN/A
GM growth 3Y3.88%
GM growth 5Y2.95%
ONON Yearly Profit, Operating, Gross MarginsONON Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40 60

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7

2. ONON Health Analysis

2.1 Basic Checks

  • ONON has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • The number of shares outstanding for ONON has been increased compared to 1 year ago.
  • Compared to 5 years ago, ONON has more shares outstanding
  • ONON has a worse debt/assets ratio than last year.
ONON Yearly Shares OutstandingONON Yearly Shares OutstandingYearly Shares Outstanding 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M
ONON Yearly Total Debt VS Total AssetsONON Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B 2.5B

2.2 Solvency

  • ONON has an Altman-Z score of 6.84. This indicates that ONON is financially healthy and has little risk of bankruptcy at the moment.
  • ONON has a better Altman-Z score (6.84) than 95.56% of its industry peers.
  • ONON has a debt to FCF ratio of 2.07. This is a good value and a sign of high solvency as ONON would need 2.07 years to pay back of all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 2.07, ONON is in the better half of the industry, outperforming 77.78% of the companies in the same industry.
  • A Debt/Equity ratio of 0.27 indicates that ONON is not too dependend on debt financing.
  • ONON's Debt to Equity ratio of 0.27 is fine compared to the rest of the industry. ONON outperforms 66.67% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 2.07
Altman-Z 6.84
ROIC/WACC2.87
WACC4.91%
ONON Yearly LT Debt VS Equity VS FCFONON Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2019 2020 2021 2022 2023 2024 2025 0 500M 1B 1.5B

2.3 Liquidity

  • A Current Ratio of 2.71 indicates that ONON has no problem at all paying its short term obligations.
  • ONON's Current ratio of 2.71 is fine compared to the rest of the industry. ONON outperforms 77.78% of its industry peers.
  • ONON has a Quick Ratio of 2.13. This indicates that ONON is financially healthy and has no problem in meeting its short term obligations.
  • ONON has a better Quick ratio (2.13) than 91.11% of its industry peers.
Industry RankSector Rank
Current Ratio 2.71
Quick Ratio 2.13
ONON Yearly Current Assets VS Current LiabilitesONON Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

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8

3. ONON Growth Analysis

3.1 Past

  • The earnings per share for ONON have decreased strongly by -14.14% in the last year.
  • ONON shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 39.96% yearly.
  • Looking at the last year, ONON shows a very strong growth in Revenue. The Revenue has grown by 30.01%.
  • ONON shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 47.94% yearly.
EPS 1Y (TTM)-14.14%
EPS 3Y39.96%
EPS 5YN/A
EPS Q2Q%-30.56%
Revenue 1Y (TTM)30.01%
Revenue growth 3Y35.11%
Revenue growth 5Y47.94%
Sales Q2Q%22.62%

3.2 Future

  • Based on estimates for the next years, ONON will show a very strong growth in Earnings Per Share. The EPS will grow by 21.01% on average per year.
  • ONON is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 19.22% yearly.
EPS Next Y55.22%
EPS Next 2Y40.61%
EPS Next 3Y43.5%
EPS Next 5Y21.01%
Revenue Next Year17.95%
Revenue Next 2Y18.99%
Revenue Next 3Y20.23%
Revenue Next 5Y19.22%

3.3 Evolution

  • Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
  • Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
ONON Yearly Revenue VS EstimatesONON Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2B 4B 6B 8B
ONON Yearly EPS VS EstimatesONON Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 0.5 1 1.5 2 2.5

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4

4. ONON Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 31.16 indicates a quite expensive valuation of ONON.
  • Based on the Price/Earnings ratio, ONON is valued a bit more expensive than the industry average as 64.44% of the companies are valued more cheaply.
  • The average S&P500 Price/Earnings ratio is at 26.17. ONON is around the same levels.
  • The Price/Forward Earnings ratio is 20.01, which indicates a rather expensive current valuation of ONON.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of ONON indicates a slightly more expensive valuation: ONON is more expensive than 62.22% of the companies listed in the same industry.
  • ONON's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 23.05.
Industry RankSector Rank
PE 31.16
Fwd PE 20.01
ONON Price Earnings VS Forward Price EarningsONON Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of ONON indicates a slightly more expensive valuation: ONON is more expensive than 60.00% of the companies listed in the same industry.
  • ONON's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 31.11
EV/EBITDA 16.22
ONON Per share dataONON EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

  • ONON's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • ONON has an outstanding profitability rating, which may justify a higher PE ratio.
  • ONON's earnings are expected to grow with 43.50% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.56
PEG (5Y)N/A
EPS Next 2Y40.61%
EPS Next 3Y43.5%

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0

5. ONON Dividend Analysis

5.1 Amount

  • No dividends for ONON!.
Industry RankSector Rank
Dividend Yield 0%

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ONON Fundamentals: All Metrics, Ratios and Statistics

ON HOLDING AG-CLASS A

NYSE:ONON (4/2/2026, 8:04:00 PM)

Premarket: 33.06 +0.03 (+0.09%)

33.03

-1.74 (-5%)

Chartmill FA Rating
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryTextiles, Apparel & Luxury Goods
Earnings (Last)03-03
Earnings (Next)05-11
Inst Owners68.4%
Inst Owner Change0%
Ins Owners21.52%
Ins Owner Change0.11%
Market Cap10.93B
Revenue(TTM)3.01B
Net Income(TTM)203.80M
Analysts82.86
Price Target61.3 (85.59%)
Short Float %5.96%
Short Ratio2.28
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)54.15%
Min EPS beat(2)20.9%
Max EPS beat(2)87.41%
EPS beat(4)3
Avg EPS beat(4)-8.5%
Min EPS beat(4)-146.46%
Max EPS beat(4)87.41%
EPS beat(8)5
Avg EPS beat(8)19.98%
EPS beat(12)8
Avg EPS beat(12)18.48%
EPS beat(16)11
Avg EPS beat(16)58.41%
Revenue beat(2)2
Avg Revenue beat(2)1.39%
Min Revenue beat(2)0.67%
Max Revenue beat(2)2.11%
Revenue beat(4)4
Avg Revenue beat(4)2.87%
Min Revenue beat(4)0.67%
Max Revenue beat(4)4.57%
Revenue beat(8)7
Avg Revenue beat(8)1.5%
Revenue beat(12)10
Avg Revenue beat(12)2.21%
Revenue beat(16)14
Avg Revenue beat(16)6.54%
PT rev (1m)-2.99%
PT rev (3m)-3.37%
EPS NQ rev (1m)-0.59%
EPS NQ rev (3m)-4.29%
EPS NY rev (1m)0%
EPS NY rev (3m)-2.57%
Revenue NQ rev (1m)-4.11%
Revenue NQ rev (3m)-4.15%
Revenue NY rev (1m)-3.81%
Revenue NY rev (3m)-4.75%
Valuation
Industry RankSector Rank
PE 31.16
Fwd PE 20.01
P/S 2.9
P/FCF 31.11
P/OCF 24.31
P/B 5.35
P/tB 5.54
EV/EBITDA 16.22
EPS(TTM)1.06
EY3.21%
EPS(NY)1.65
Fwd EY5%
FCF(TTM)1.06
FCFY3.21%
OCF(TTM)1.36
OCFY4.11%
SpS11.39
BVpS6.17
TBVpS5.96
PEG (NY)0.56
PEG (5Y)N/A
Graham Number12.13
Profitability
Industry RankSector Rank
ROA 7.19%
ROE 12.48%
ROCE 17.86%
ROIC 14.11%
ROICexc 28.86%
ROICexgc 30.46%
OM 12.51%
PM (TTM) 6.76%
GM 62.83%
FCFM 9.32%
ROA(3y)7.46%
ROA(5y)2.56%
ROE(3y)12.43%
ROE(5y)4.64%
ROIC(3y)11.64%
ROIC(5y)N/A
ROICexc(3y)23.45%
ROICexc(5y)N/A
ROICexgc(3y)25.22%
ROICexgc(5y)N/A
ROCE(3y)14.73%
ROCE(5y)N/A
ROICexgc growth 3Y44.45%
ROICexgc growth 5YN/A
ROICexc growth 3Y46.71%
ROICexc growth 5YN/A
OM growth 3Y21.56%
OM growth 5YN/A
PM growth 3Y12.7%
PM growth 5YN/A
GM growth 3Y3.88%
GM growth 5Y2.95%
F-Score6
Asset Turnover1.06
Health
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 2.07
Debt/EBITDA 0.88
Cap/Depr 61.7%
Cap/Sales 2.61%
Interest Coverage 17.53
Cash Conversion 71.27%
Profit Quality 137.83%
Current Ratio 2.71
Quick Ratio 2.13
Altman-Z 6.84
F-Score6
WACC4.91%
ROIC/WACC2.87
Cap/Depr(3y)65.52%
Cap/Depr(5y)98.16%
Cap/Sales(3y)2.68%
Cap/Sales(5y)3.97%
Profit Quality(3y)184.7%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-14.14%
EPS 3Y39.96%
EPS 5YN/A
EPS Q2Q%-30.56%
EPS Next Y55.22%
EPS Next 2Y40.61%
EPS Next 3Y43.5%
EPS Next 5Y21.01%
Revenue 1Y (TTM)30.01%
Revenue growth 3Y35.11%
Revenue growth 5Y47.94%
Sales Q2Q%22.62%
Revenue Next Year17.95%
Revenue Next 2Y18.99%
Revenue Next 3Y20.23%
Revenue Next 5Y19.22%
EBIT growth 1Y78.25%
EBIT growth 3Y64.24%
EBIT growth 5YN/A
EBIT Next Year72.97%
EBIT Next 3Y43.61%
EBIT Next 5Y24%
FCF growth 1Y-36.96%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-29.59%
OCF growth 3YN/A
OCF growth 5YN/A

ON HOLDING AG-CLASS A / ONON Fundamental Analysis FAQ

What is the ChartMill fundamental rating of ON HOLDING AG-CLASS A (ONON) stock?

ChartMill assigns a fundamental rating of 7 / 10 to ONON.


What is the valuation status for ONON stock?

ChartMill assigns a valuation rating of 4 / 10 to ON HOLDING AG-CLASS A (ONON). This can be considered as Fairly Valued.


What is the profitability of ONON stock?

ON HOLDING AG-CLASS A (ONON) has a profitability rating of 8 / 10.


Can you provide the financial health for ONON stock?

The financial health rating of ON HOLDING AG-CLASS A (ONON) is 7 / 10.