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

NYSE:ONON • CH1134540470

Current stock price

32.39 USD
+0.28 (+0.87%)
At close:
32.292 USD
-0.1 (-0.3%)
After Hours:

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.
  • ONON had a positive operating cash flow in the past year.
  • ONON had positive earnings in 4 of the past 5 years.
  • Of the past 5 years ONON 4 years had a positive operating cash flow.
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

  • The Return On Assets of ONON (7.19%) is better than 80.00% of its industry peers.
  • With a decent Return On Equity value of 12.48%, ONON is doing good in the industry, outperforming 71.11% of the companies in the same industry.
  • 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 11.67%.
  • 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

  • The Profit Margin of ONON (6.76%) is better than 82.22% of its industry peers.
  • ONON's Profit Margin has improved in the last couple of years.
  • 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.
  • In the last couple of years the Operating Margin of ONON has grown nicely.
  • 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

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so ONON 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
  • The debt/assets ratio for ONON is higher compared to a year ago.
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 6.69. This indicates that ONON is financially healthy and has little risk of bankruptcy at the moment.
  • ONON's Altman-Z score of 6.69 is amongst the best of the industry. ONON outperforms 93.33% 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.
  • ONON's Debt to FCF ratio of 2.07 is fine compared to the rest of the industry. ONON outperforms 77.78% of its industry peers.
  • A Debt/Equity ratio of 0.27 indicates that ONON is not too dependend on debt financing.
  • With a decent Debt to Equity ratio value of 0.27, ONON is doing good in the industry, outperforming 64.44% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 2.07
Altman-Z 6.69
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.
  • With a decent Current ratio value of 2.71, ONON is doing good in the industry, outperforming 77.78% of the companies in the same industry.
  • A Quick Ratio of 2.13 indicates that ONON has no problem at all paying 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

  • ONON shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -14.14%.
  • Measured over the past years, ONON shows a very strong growth in Earnings Per Share. The EPS has been growing by 39.96% on average per year.
  • ONON shows a strong growth in Revenue. In the last year, 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

  • The Earnings Per Share is expected to grow by 21.01% on average over the next years. This is a very strong growth
  • Based on estimates for the next years, ONON will show a quite strong growth in Revenue. The Revenue will grow by 19.22% on average per year.
EPS Next Y55.22%
EPS Next 2Y40.61%
EPS Next 3Y43.5%
EPS Next 5Y21.01%
Revenue Next Year17.53%
Revenue Next 2Y18.66%
Revenue Next 3Y20.41%
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.
  • The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in 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

  • Based on the Price/Earnings ratio of 30.27, the valuation of ONON can be described as expensive.
  • 62.22% of the companies in the same industry are cheaper than ONON, based on the Price/Earnings ratio.
  • ONON is valuated rather expensively when we compare the Price/Earnings ratio to 24.88, which is the current average of the S&P500 Index.
  • The Price/Forward Earnings ratio is 19.47, which indicates a rather expensive current valuation of ONON.
  • ONON's Price/Forward Earnings is on the same level as the industry average.
  • The average S&P500 Price/Forward Earnings ratio is at 22.19. ONON is around the same levels.
Industry RankSector Rank
PE 30.27
Fwd PE 19.47
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

  • ONON's Enterprise Value to EBITDA ratio is in line with the industry average.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of ONON is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 30.27
EV/EBITDA 15.61
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)0.55
PEG (5Y)N/A
EPS Next 2Y40.61%
EPS Next 3Y43.5%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. ONON Dividend Analysis

5.1 Amount

  • ONON does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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ONON Fundamentals: All Metrics, Ratios and Statistics

ON HOLDING AG-CLASS A

NYSE:ONON (3/27/2026, 8:04:00 PM)

After market: 32.292 -0.1 (-0.3%)

32.39

+0.28 (+0.87%)

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 Change13.14%
Ins Owners21.52%
Ins Owner Change0%
Market Cap10.72B
Revenue(TTM)3.01B
Net Income(TTM)203.80M
Analysts82.35
Price Target63.19 (95.09%)
Short Float %6.16%
Short Ratio2.61
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)0%
PT rev (3m)-0.04%
EPS NQ rev (1m)-3.55%
EPS NQ rev (3m)-4.29%
EPS NY rev (1m)-1.57%
EPS NY rev (3m)-3.33%
Revenue NQ rev (1m)-4.2%
Revenue NQ rev (3m)-4.33%
Revenue NY rev (1m)-4.13%
Revenue NY rev (3m)-4.34%
Valuation
Industry RankSector Rank
PE 30.27
Fwd PE 19.47
P/S 2.82
P/FCF 30.27
P/OCF 23.65
P/B 5.21
P/tB 5.39
EV/EBITDA 15.61
EPS(TTM)1.07
EY3.3%
EPS(NY)1.66
Fwd EY5.14%
FCF(TTM)1.07
FCFY3.3%
OCF(TTM)1.37
OCFY4.23%
SpS11.48
BVpS6.22
TBVpS6.01
PEG (NY)0.55
PEG (5Y)N/A
Graham Number12.24
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 6.69
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 Year17.53%
Revenue Next 2Y18.66%
Revenue Next 3Y20.41%
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.


Can you provide the profitability details for ON HOLDING AG-CLASS A?

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


What is the valuation of ON HOLDING AG-CLASS A based on its PE and PB ratios?

The Price/Earnings (PE) ratio for ON HOLDING AG-CLASS A (ONON) is 30.27 and the Price/Book (PB) ratio is 5.21.