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

NYSE:ONON • CH1134540470

Current stock price

34.54 USD
-1.07 (-3%)
At close:
34.55 USD
+0.01 (+0.03%)
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.
  • ONON had a positive operating cash flow in the past year.
  • 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

  • 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 73.33% of the companies in the same industry.
  • ONON has a Return On Invested Capital of 14.11%. This is amongst the best in the industry. ONON outperforms 84.44% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years 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

  • 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.
  • ONON has a Operating Margin of 12.51%. This is amongst the best in the industry. ONON outperforms 82.22% of its industry peers.
  • 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 86.67% 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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8

2. ONON Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), ONON is creating value.
  • ONON has more shares outstanding than it did 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

  • An Altman-Z score of 6.96 indicates that ONON is not in any danger for bankruptcy at the moment.
  • ONON has a better Altman-Z score (6.96) than 95.56% of its industry peers.
  • ONON has a debt to FCF ratio of 1.87. This is a very positive value and a sign of high solvency as it would only need 1.87 years to pay back of all of its debts.
  • ONON has a better Debt to FCF ratio (1.87) than 82.22% of its industry peers.
  • ONON has a Debt/Equity ratio of 0.27. This is a healthy value indicating a solid balance between debt and equity.
  • Looking at the Debt to Equity ratio, with a value of 0.27, ONON is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 1.87
Altman-Z 6.96
ROIC/WACC2.87
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 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.
  • The Current ratio of ONON (2.71) is better than 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.
  • ONON has a Quick ratio of 2.13. This is amongst the best in the industry. ONON outperforms 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

  • The earnings per share for ONON have decreased strongly by -14.14% in the last year.
  • The Earnings Per Share has been growing by 39.96% on average over the past years. This is a very strong growth
  • 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

  • Based on estimates for the next years, ONON will show a very strong growth in Earnings Per Share. The EPS will grow by 21.73% on average per year.
  • Based on estimates for the next years, ONON will show a quite strong growth in Revenue. The Revenue will grow by 16.10% on average per year.
EPS Next Y52.75%
EPS Next 2Y38.2%
EPS Next 3Y34.11%
EPS Next 5Y21.73%
Revenue Next Year17.85%
Revenue Next 2Y18.91%
Revenue Next 3Y20.41%
Revenue Next 5Y16.1%

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

  • The Price/Earnings ratio is 31.98, which means the current valuation is very expensive for ONON.
  • Based on the Price/Earnings ratio, ONON is valued a bit more expensive than the industry average as 66.67% of the companies are valued more cheaply.
  • Compared to an average S&P500 Price/Earnings ratio of 26.64, ONON is valued a bit more expensive.
  • A Price/Forward Earnings ratio of 20.89 indicates a rather expensive 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.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 21.36, ONON is valued at the same level.
Industry RankSector Rank
PE 31.98
Fwd PE 20.89
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

  • Based on the Enterprise Value to EBITDA ratio, ONON is valued a bit more expensive than the industry average as 60.00% of the companies are valued more cheaply.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as ONON.
Industry RankSector Rank
P/FCF 31.96
EV/EBITDA 16.58
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

  • The 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.
  • A more expensive valuation may be justified as ONON's earnings are expected to grow with 34.11% in the coming years.
PEG (NY)0.61
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 (5/1/2026, 8:04:00 PM)

After market: 34.55 +0.01 (+0.03%)

34.54

-1.07 (-3%)

Chartmill FA Rating
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryTextiles, Apparel & Luxury Goods
Industry StrengthN/A
Industry GrowthN/A
Earnings (Last)03-03
Earnings (Next)05-12
Inst Owners73.79%
Inst Owner Change-0.53%
Ins Owners23.82%
Ins Owner Change0.05%
Market Cap11.43B
Revenue(TTM)3.01B
Net Income(TTM)203.80M
Analysts82.86
Price Target59.45 (72.12%)
Short Float %4.93%
Short Ratio1.67
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)-3.01%
PT rev (3m)-6.11%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-3.55%
EPS NY rev (1m)-1.59%
EPS NY rev (3m)-3.14%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-4.03%
Revenue NY rev (1m)-0.08%
Revenue NY rev (3m)-3.87%
Valuation
Industry RankSector Rank
PE 31.98
Fwd PE 20.89
P/S 2.98
P/FCF 31.96
P/OCF 24.98
P/B 5.5
P/tB 5.69
EV/EBITDA 16.58
EPS(TTM)1.08
EY3.13%
EPS(NY)1.65
Fwd EY4.79%
FCF(TTM)1.08
FCFY3.13%
OCF(TTM)1.38
OCFY4%
SpS11.59
BVpS6.28
TBVpS6.07
PEG (NY)0.61
PEG (5Y)N/A
Graham Number12.3531 (-64.24%)
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 1.87
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 6.96
F-Score6
WACC4.92%
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 5Y21.73%
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 5Y16.1%
EBIT growth 1Y78.25%
EBIT growth 3Y64.24%
EBIT growth 5YN/A
EBIT Next Year69.51%
EBIT Next 3Y38.21%
EBIT Next 5Y23.18%
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 8 / 10.