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ON HOLDING AG-CLASS A (ONON) Stock Fundamental Analysis

NYSE:ONON - New York Stock Exchange, Inc. - CH1134540470 - Common Stock - Currency: USD

48.44  -2.77 (-5.41%)

After market: 48.4873 +0.05 (+0.1%)

Fundamental Rating

6

ONON gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 50 industry peers in the Textiles, Apparel & Luxury Goods industry. ONON has an excellent financial health rating, but there are some minor concerns on its profitability. ONON shows excellent growth, but is valued quite expensive already. These ratings could make ONON a good candidate for growth investing.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year ONON was profitable.
ONON had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: ONON reported negative net income in multiple years.
In multiple years ONON reported negative operating cash flow during the last 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 0 100M -100M 200M -200M -300M

1.2 Ratios

ONON's Return On Assets of 5.99% is fine compared to the rest of the industry. ONON outperforms 69.39% of its industry peers.
ONON's Return On Equity of 9.96% is fine compared to the rest of the industry. ONON outperforms 63.27% of its industry peers.
The Return On Invested Capital of ONON (9.39%) is better than 67.35% of its industry peers.
Industry RankSector Rank
ROA 5.99%
ROE 9.96%
ROIC 9.39%
ROA(3y)-1.53%
ROA(5y)-2.57%
ROE(3y)-2.23%
ROE(5y)-4.05%
ROIC(3y)N/A
ROIC(5y)N/A
ONON Yearly ROA, ROE, ROICONON Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2019 2020 2021 2022 2023 0 10 -10 -20

1.3 Margins

ONON has a Profit Margin of 5.84%. This is in the better half of the industry: ONON outperforms 69.39% of its industry peers.
ONON has a Operating Margin of 9.22%. This is in the better half of the industry: ONON outperforms 67.35% of its industry peers.
Looking at the Gross Margin, with a value of 60.18%, ONON belongs to the top of the industry, outperforming 81.63% 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 9.22%
PM (TTM) 5.84%
GM 60.18%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y3.1%
GM growth 5YN/A
ONON Yearly Profit, Operating, Gross MarginsONON Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2019 2020 2021 2022 2023 0 20 -20 40

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8

2. Health

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.
ONON has more shares outstanding than it did 1 year ago.
Compared to 1 year ago, ONON has a worse debt to assets ratio.
ONON Yearly Shares OutstandingONON Yearly Shares OutstandingYearly Shares Outstanding 2019 2020 2021 2022 2023 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 500M 1B 1.5B

2.2 Solvency

An Altman-Z score of 13.43 indicates that ONON is not in any danger for bankruptcy at the moment.
ONON has a better Altman-Z score (13.43) than 97.96% of its industry peers.
ONON has a debt to FCF ratio of 0.92. This is a very positive value and a sign of high solvency as it would only need 0.92 years to pay back of all of its debts.
The Debt to FCF ratio of ONON (0.92) is better than 83.67% of its industry peers.
ONON has a Debt/Equity ratio of 0.22. This is a healthy value indicating a solid balance between debt and equity.
ONON has a Debt to Equity ratio of 0.22. This is in the better half of the industry: ONON outperforms 61.22% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.22
Debt/FCF 0.92
Altman-Z 13.43
ROIC/WACC1.91
WACC4.92%
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 0 200M -200M 400M 600M 800M 1B

2.3 Liquidity

ONON has a Current Ratio of 2.91. This indicates that ONON is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of ONON (2.91) is better than 77.55% of its industry peers.
ONON has a Quick Ratio of 2.25. This indicates that ONON is financially healthy and has no problem in meeting its short term obligations.
ONON's Quick ratio of 2.25 is amongst the best of the industry. ONON outperforms 91.84% of its industry peers.
Industry RankSector Rank
Current Ratio 2.91
Quick Ratio 2.25
ONON Yearly Current Assets VS Current LiabilitesONON Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

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8

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 53.26% over the past year.
ONON shows a strong growth in Revenue. In the last year, the Revenue has grown by 26.12%.
The Revenue has been growing by 61.52% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)53.26%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-27.27%
Revenue 1Y (TTM)26.12%
Revenue growth 3Y61.52%
Revenue growth 5YN/A
Sales Q2Q%32.32%

3.2 Future

The Earnings Per Share is expected to grow by 37.03% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 24.84% on average over the next years. This is a very strong growth
EPS Next Y66.08%
EPS Next 2Y46.18%
EPS Next 3Y41.39%
EPS Next 5Y37.03%
Revenue Next Year28.04%
Revenue Next 2Y28%
Revenue Next 3Y26.67%
Revenue Next 5Y24.84%

3.3 Evolution

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 2B 4B 6B
ONON Yearly EPS VS EstimatesONON Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 0.5 1 1.5 2

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1

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 76.89, which means the current valuation is very expensive for ONON.
65.31% of the companies in the same industry are cheaper than ONON, based on the Price/Earnings ratio.
ONON is valuated expensively when we compare the Price/Earnings ratio to 29.63, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 41.40, the valuation of ONON can be described as expensive.
71.43% of the companies in the same industry are cheaper than ONON, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 22.68. ONON is valued rather expensively when compared to this.
Industry RankSector Rank
PE 76.89
Fwd PE 41.4
ONON Price Earnings VS Forward Price EarningsONON Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

71.43% of the companies in the same industry are cheaper than ONON, based on the Enterprise Value to EBITDA ratio.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of ONON indicates a slightly more expensive valuation: ONON is more expensive than 65.31% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 35.34
EV/EBITDA 49.03
ONON Per share dataONON EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
A more expensive valuation may be justified as ONON's earnings are expected to grow with 41.39% in the coming years.
PEG (NY)1.16
PEG (5Y)N/A
EPS Next 2Y46.18%
EPS Next 3Y41.39%

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0

5. Dividend

5.1 Amount

No dividends for ONON!.
Industry RankSector Rank
Dividend Yield N/A

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ON HOLDING AG-CLASS A

NYSE:ONON (2/21/2025, 8:04:01 PM)

After market: 48.4873 +0.05 (+0.1%)

48.44

-2.77 (-5.41%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryTextiles, Apparel & Luxury Goods
Earnings (Last)11-12 2024-11-12/bmo
Earnings (Next)03-04 2025-03-04/amc
Inst Owners68.59%
Inst Owner Change-4.86%
Ins Owners25.48%
Ins Owner ChangeN/A
Market Cap15.66B
Analysts83.03
Price Target64.05 (32.23%)
Short Float %7.61%
Short Ratio5.07
Dividend
Industry RankSector Rank
Dividend Yield N/A
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)0
Avg EPS beat(2)-17.89%
Min EPS beat(2)-22.6%
Max EPS beat(2)-13.18%
EPS beat(4)1
Avg EPS beat(4)-15.22%
Min EPS beat(4)-152.29%
Max EPS beat(4)127.21%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)0.08%
Min Revenue beat(2)-0.82%
Max Revenue beat(2)0.98%
Revenue beat(4)2
Avg Revenue beat(4)-0.6%
Min Revenue beat(4)-2.72%
Max Revenue beat(4)0.98%
Revenue beat(8)6
Avg Revenue beat(8)4.73%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)3.3%
PT rev (3m)21.62%
EPS NQ rev (1m)-8.25%
EPS NQ rev (3m)-9.02%
EPS NY rev (1m)-0.43%
EPS NY rev (3m)-6.29%
Revenue NQ rev (1m)0.06%
Revenue NQ rev (3m)-0.64%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.77%
Valuation
Industry RankSector Rank
PE 76.89
Fwd PE 41.4
P/S 6.55
P/FCF 35.34
P/OCF 30.51
P/B 11.17
P/tB 11.73
EV/EBITDA 49.03
EPS(TTM)0.63
EY1.3%
EPS(NY)1.17
Fwd EY2.42%
FCF(TTM)1.37
FCFY2.83%
OCF(TTM)1.59
OCFY3.28%
SpS7.4
BVpS4.34
TBVpS4.13
PEG (NY)1.16
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 5.99%
ROE 9.96%
ROCE 12.68%
ROIC 9.39%
ROICexc 18.82%
ROICexgc 20.38%
OM 9.22%
PM (TTM) 5.84%
GM 60.18%
FCFM 18.52%
ROA(3y)-1.53%
ROA(5y)-2.57%
ROE(3y)-2.23%
ROE(5y)-4.05%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y3.1%
GM growth 5YN/A
F-Score6
Asset Turnover1.03
Health
Industry RankSector Rank
Debt/Equity 0.22
Debt/FCF 0.92
Debt/EBITDA 0.95
Cap/Depr 65.73%
Cap/Sales 2.93%
Interest Coverage 14.22
Cash Conversion 156.8%
Profit Quality 317.38%
Current Ratio 2.91
Quick Ratio 2.25
Altman-Z 13.43
F-Score6
WACC4.92%
ROIC/WACC1.91
Cap/Depr(3y)122.33%
Cap/Depr(5y)138.7%
Cap/Sales(3y)4.81%
Cap/Sales(5y)4.45%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)53.26%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-27.27%
EPS Next Y66.08%
EPS Next 2Y46.18%
EPS Next 3Y41.39%
EPS Next 5Y37.03%
Revenue 1Y (TTM)26.12%
Revenue growth 3Y61.52%
Revenue growth 5YN/A
Sales Q2Q%32.32%
Revenue Next Year28.04%
Revenue Next 2Y28%
Revenue Next 3Y26.67%
Revenue Next 5Y24.84%
EBIT growth 1Y29.12%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year85.71%
EBIT Next 3Y48.3%
EBIT Next 5Y39.92%
FCF growth 1Y303%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y451.83%
OCF growth 3YN/A
OCF growth 5YN/A