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

NYSE:ONON • CH1134540470

48.02 USD
+0.69 (+1.46%)
At close: Feb 19, 2026
47.66 USD
-0.36 (-0.75%)
Pre-Market: 2/20/2026, 5:45:55 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

6

Overall ONON gets a fundamental rating of 6 out of 10. We evaluated ONON against 45 industry peers in the Textiles, Apparel & Luxury Goods industry. ONON has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. ONON is valued quite expensive, but it does show an excellent growth. This makes ONON very considerable for growth and quality investing!


Dividend Valuation Growth Profitability Health

7

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.
  • The reported operating cash flow has been mixed in the past 5 years: ONON reported negative operating cash flow in multiple 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 0 200M -200M 400M

1.2 Ratios

  • ONON's Return On Assets of 8.15% is amongst the best of the industry. ONON outperforms 86.67% of its industry peers.
  • ONON's Return On Equity of 14.55% is fine compared to the rest of the industry. ONON outperforms 73.33% of its industry peers.
  • ONON's Return On Invested Capital of 15.03% is amongst the best of the industry. ONON outperforms 82.22% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for ONON is in line with the industry average of 11.64%.
  • The last Return On Invested Capital (15.03%) for ONON is above the 3 year average (9.76%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 8.15%
ROE 14.55%
ROIC 15.03%
ROA(3y)6.46%
ROA(5y)-0.32%
ROE(3y)10.26%
ROE(5y)-0.11%
ROIC(3y)9.76%
ROIC(5y)N/A
ONON Yearly ROA, ROE, ROICONON Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2019 2020 2021 2022 2023 2024 0 10 -10 -20

1.3 Margins

  • ONON has a better Profit Margin (7.80%) than 86.67% of its industry peers.
  • With an excellent Operating Margin value of 12.08%, ONON belongs to the best 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.
  • ONON has a better Gross Margin (62.40%) than 84.44% of its industry peers.
  • ONON's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 12.08%
PM (TTM) 7.8%
GM 62.4%
OM growth 3YN/A
OM growth 5Y33.78%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.7%
GM growth 5Y2.51%
ONON Yearly Profit, Operating, Gross MarginsONON Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2019 2020 2021 2022 2023 2024 0 20 -20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

8

2. Health

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 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 500M 1B 1.5B 2B

2.2 Solvency

  • ONON has an Altman-Z score of 8.85. This indicates that ONON is financially healthy and has little risk of bankruptcy at the moment.
  • ONON has a better Altman-Z score (8.85) than 95.56% of its industry peers.
  • The Debt to FCF ratio of ONON is 1.62, which is an excellent value as it means it would take ONON, only 1.62 years of fcf income to pay off all of its debts.
  • ONON has a Debt to FCF ratio of 1.62. This is amongst the best in the industry. ONON outperforms 84.44% of its industry peers.
  • ONON has a Debt/Equity ratio of 0.28. This is a healthy value indicating a solid balance between debt and equity.
  • The Debt to Equity ratio of ONON (0.28) is better than 66.67% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF 1.62
Altman-Z 8.85
ROIC/WACC3.04
WACC4.95%
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 0 500M 1B

2.3 Liquidity

  • A Current Ratio of 2.55 indicates that ONON has no problem at all paying its short term obligations.
  • ONON has a better Current ratio (2.55) than 73.33% of its industry peers.
  • A Quick Ratio of 2.05 indicates that ONON has no problem at all paying its short term obligations.
  • Looking at the Quick ratio, with a value of 2.05, ONON belongs to the top of the industry, outperforming 88.89% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.55
Quick Ratio 2.05
ONON Yearly Current Assets VS Current LiabilitesONON Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

8

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 68.42% over the past year.
  • The Revenue has grown by 33.26% in the past year. This is a very strong growth!
  • The Revenue has been growing by 54.06% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)68.42%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%193.75%
Revenue 1Y (TTM)33.26%
Revenue growth 3Y47.35%
Revenue growth 5Y54.06%
Sales Q2Q%24.94%

3.2 Future

  • The Earnings Per Share is expected to grow by 25.04% on average over the next years. This is a very strong growth
  • ONON is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 21.83% yearly.
EPS Next Y-18.93%
EPS Next 2Y16.36%
EPS Next 3Y20.42%
EPS Next 5Y25.04%
Revenue Next Year29.41%
Revenue Next 2Y25.96%
Revenue Next 3Y24.49%
Revenue Next 5Y21.83%

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 2032 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 1 2 3

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Find the best growth stocksShow best growing peers

2

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 38.73 indicates a quite expensive valuation of ONON.
  • 66.67% of the companies in the same industry are cheaper than ONON, based on the Price/Earnings ratio.
  • When comparing the Price/Earnings ratio of ONON to the average of the S&P500 Index (27.09), we can say ONON is valued slightly more expensively.
  • With a Price/Forward Earnings ratio of 27.80, ONON can be considered very expensive at the moment.
  • 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 64.44% of the companies listed in the same industry.
  • ONON is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 27.98, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 38.73
Fwd PE 27.8
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 75.56% 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 35.62
EV/EBITDA 25.09
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 has a very decent profitability rating, which may justify a higher PE ratio.
  • A more expensive valuation may be justified as ONON's earnings are expected to grow with 20.42% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y16.36%
EPS Next 3Y20.42%

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

0

5. Dividend

5.1 Amount

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

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Find the best dividend stocksShow peers with best dividend

ON HOLDING AG-CLASS A

NYSE:ONON (2/19/2026, 8:24:13 PM)

Premarket: 47.66 -0.36 (-0.75%)

48.02

+0.69 (+1.46%)

Chartmill FA Rating
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryTextiles, Apparel & Luxury Goods
Earnings (Last)11-12
Earnings (Next)03-03
Inst Owners62.88%
Inst Owner Change3.08%
Ins Owners21.52%
Ins Owner ChangeN/A
Market Cap15.85B
Revenue(TTM)2.88B
Net Income(TTM)224.30M
Analysts82.35
Price Target63.19 (31.59%)
Short Float %6.88%
Short Ratio3.34
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)1
Avg EPS beat(2)-29.53%
Min EPS beat(2)-146.46%
Max EPS beat(2)87.41%
EPS beat(4)3
Avg EPS beat(4)11.88%
Min EPS beat(4)-146.46%
Max EPS beat(4)102.39%
EPS beat(8)4
Avg EPS beat(8)-1.67%
EPS beat(12)8
Avg EPS beat(12)20.57%
EPS beat(16)10
Avg EPS beat(16)37.09%
Revenue beat(2)2
Avg Revenue beat(2)3.12%
Min Revenue beat(2)2.11%
Max Revenue beat(2)4.14%
Revenue beat(4)4
Avg Revenue beat(4)2.74%
Min Revenue beat(4)0.14%
Max Revenue beat(4)4.57%
Revenue beat(8)6
Avg Revenue beat(8)1.07%
Revenue beat(12)10
Avg Revenue beat(12)4.79%
Revenue beat(16)14
Avg Revenue beat(16)14.15%
PT rev (1m)-0.39%
PT rev (3m)-3.64%
EPS NQ rev (1m)0.33%
EPS NQ rev (3m)7.66%
EPS NY rev (1m)1.14%
EPS NY rev (3m)30.61%
Revenue NQ rev (1m)0.37%
Revenue NQ rev (3m)1.06%
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)1.06%
Valuation
Industry RankSector Rank
PE 38.73
Fwd PE 27.8
P/S 4.28
P/FCF 35.62
P/OCF 29.63
P/B 7.98
P/tB 8.27
EV/EBITDA 25.09
EPS(TTM)1.24
EY2.58%
EPS(NY)1.73
Fwd EY3.6%
FCF(TTM)1.35
FCFY2.81%
OCF(TTM)1.62
OCFY3.38%
SpS11.23
BVpS6.02
TBVpS5.8
PEG (NY)N/A
PEG (5Y)N/A
Graham Number12.96
Profitability
Industry RankSector Rank
ROA 8.15%
ROE 14.55%
ROCE 17.35%
ROIC 15.03%
ROICexc 30.78%
ROICexgc 32.6%
OM 12.08%
PM (TTM) 7.8%
GM 62.4%
FCFM 12.01%
ROA(3y)6.46%
ROA(5y)-0.32%
ROE(3y)10.26%
ROE(5y)-0.11%
ROIC(3y)9.76%
ROIC(5y)N/A
ROICexc(3y)18.51%
ROICexc(5y)N/A
ROICexgc(3y)20.21%
ROICexgc(5y)N/A
ROCE(3y)11.26%
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5Y30.67%
ROICexc growth 3YN/A
ROICexc growth 5Y30.65%
OM growth 3YN/A
OM growth 5Y33.78%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.7%
GM growth 5Y2.51%
F-Score6
Asset Turnover1.05
Health
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF 1.62
Debt/EBITDA 0.91
Cap/Depr 57.4%
Cap/Sales 2.43%
Interest Coverage 17.73
Cash Conversion 88.49%
Profit Quality 153.99%
Current Ratio 2.55
Quick Ratio 2.05
Altman-Z 8.85
F-Score6
WACC4.95%
ROIC/WACC3.04
Cap/Depr(3y)104.58%
Cap/Depr(5y)116.59%
Cap/Sales(3y)4.08%
Cap/Sales(5y)4.32%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)68.42%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%193.75%
EPS Next Y-18.93%
EPS Next 2Y16.36%
EPS Next 3Y20.42%
EPS Next 5Y25.04%
Revenue 1Y (TTM)33.26%
Revenue growth 3Y47.35%
Revenue growth 5Y54.06%
Sales Q2Q%24.94%
Revenue Next Year29.41%
Revenue Next 2Y25.96%
Revenue Next 3Y24.49%
Revenue Next 5Y21.83%
EBIT growth 1Y74.59%
EBIT growth 3YN/A
EBIT growth 5Y106.11%
EBIT Next Year105.87%
EBIT Next 3Y47.98%
EBIT Next 5Y37.15%
FCF growth 1Y1669.22%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y917.65%
OCF growth 3Y211.18%
OCF growth 5YN/A

ON HOLDING AG-CLASS A / ONON FAQ

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

ChartMill assigns a fundamental rating of 6 / 10 to ONON.


What is the valuation status for ONON stock?

ChartMill assigns a valuation rating of 2 / 10 to ON HOLDING AG-CLASS A (ONON). This can be considered as Overvalued.


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

ON HOLDING AG-CLASS A (ONON) has a profitability rating of 7 / 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 38.73 and the Price/Book (PB) ratio is 7.98.