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

NYSE:ONON • CH1134540470

Current stock price

36.25 USD
+0.03 (+0.08%)
At close:
36 USD
-0.25 (-0.69%)
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

  • In the past year ONON was profitable.
  • In the past year ONON had a positive cash flow from operations.
  • 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.
  • The Return On Equity of ONON (12.48%) is better than 73.33% of its industry peers.
  • The Return On Invested Capital of ONON (14.11%) is better than 84.44% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for ONON is above the industry average of 9.53%.
  • 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

  • ONON's Profit Margin of 6.76% is amongst the best of the industry. ONON outperforms 82.22% of its industry peers.
  • ONON's Profit Margin has improved in the last couple of years.
  • The Operating Margin of ONON (12.51%) is better than 82.22% of its industry peers.
  • In the last couple of years the Operating Margin of ONON has grown nicely.
  • ONON has a Gross Margin of 62.83%. This is amongst the best in the industry. ONON outperforms 86.67% of its industry peers.
  • 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.
  • The number of shares outstanding for ONON has been increased compared to 5 years ago.
  • 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 7.17. This indicates that ONON is financially healthy and has little risk of bankruptcy at the moment.
  • With an excellent Altman-Z score value of 7.17, ONON belongs to the best of the industry, outperforming 95.56% of the companies in the same industry.
  • 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.
  • ONON has a Debt/Equity ratio of 0.27. This is a healthy value indicating a solid balance between debt and equity.
  • The Debt to Equity ratio of ONON (0.27) is better than 66.67% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 2.07
Altman-Z 7.17
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.
  • A Quick Ratio of 2.13 indicates that ONON has no problem at all paying its short term obligations.
  • The Quick ratio of ONON (2.13) is better 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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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

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.
  • Looking at the last year, ONON shows a very strong growth in Revenue. The Revenue has grown by 30.01%.
  • The Revenue has been growing by 47.94% on average over the past years. This is a very strong growth!
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

  • ONON is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 21.01% yearly.
  • The Revenue is expected to grow by 19.22% on average over the next years. This is quite good.
EPS Next Y52.75%
EPS Next 2Y38.2%
EPS Next 3Y34.11%
EPS Next 5Y21.01%
Revenue Next Year17.85%
Revenue Next 2Y18.91%
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
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 33.56 indicates a quite expensive valuation of ONON.
  • Compared to the rest of the industry, the Price/Earnings ratio of ONON indicates a slightly more expensive valuation: ONON is more expensive than 66.67% of the companies listed in the same industry.
  • The average S&P500 Price/Earnings ratio is at 27.42. ONON is valued slightly more expensive when compared to this.
  • The Price/Forward Earnings ratio is 21.91, which indicates a rather expensive current valuation of ONON.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of ONON is on the same level as its industry peers.
  • ONON is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 22.24, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 33.56
Fwd PE 21.91
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

  • 64.44% of the companies in the same industry are cheaper than ONON, based on the Enterprise Value to EBITDA ratio.
  • ONON's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 33.52
EV/EBITDA 17.55
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.
  • The excellent profitability rating of ONON may justify a higher PE ratio.
  • ONON's earnings are expected to grow with 34.11% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.64
PEG (5Y)N/A
EPS Next 2Y38.2%
EPS Next 3Y34.11%

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

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 (4/24/2026, 10:05:33 PM)

After market: 36 -0.25 (-0.69%)

36.25

+0.03 (+0.08%)

Chartmill FA Rating
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryTextiles, Apparel & Luxury Goods
Earnings (Last)03-03
Earnings (Next)05-19
Inst Owners73.79%
Inst Owner Change0.47%
Ins Owners23.82%
Ins Owner Change0.07%
Market Cap12.00B
Revenue(TTM)3.01B
Net Income(TTM)203.80M
Analysts82.86
Price Target60.39 (66.59%)
Short Float %6.48%
Short Ratio2.17
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)-4.43%
PT rev (3m)-4.63%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-3.55%
EPS NY rev (1m)-1.59%
EPS NY rev (3m)-4.12%
Revenue NQ rev (1m)0.18%
Revenue NQ rev (3m)-4.03%
Revenue NY rev (1m)0.28%
Revenue NY rev (3m)-3.84%
Valuation
Industry RankSector Rank
PE 33.56
Fwd PE 21.91
P/S 3.12
P/FCF 33.52
P/OCF 26.19
P/B 5.77
P/tB 5.97
EV/EBITDA 17.55
EPS(TTM)1.08
EY2.98%
EPS(NY)1.65
Fwd EY4.56%
FCF(TTM)1.08
FCFY2.98%
OCF(TTM)1.38
OCFY3.82%
SpS11.6
BVpS6.28
TBVpS6.08
PEG (NY)0.64
PEG (5Y)N/A
Graham Number12.3576 (-65.91%)
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 7.17
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 Y52.75%
EPS Next 2Y38.2%
EPS Next 3Y34.11%
EPS Next 5Y21.01%
Revenue 1Y (TTM)30.01%
Revenue growth 3Y35.11%
Revenue growth 5Y47.94%
Sales Q2Q%22.62%
Revenue Next Year17.85%
Revenue Next 2Y18.91%
Revenue Next 3Y20.41%
Revenue Next 5Y19.22%
EBIT growth 1Y78.25%
EBIT growth 3Y64.24%
EBIT growth 5YN/A
EBIT Next Year69.51%
EBIT Next 3Y38.21%
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.