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

NYSE:ONON • CH1134540470

Current stock price

32.11 USD
-3.05 (-8.67%)
At close:
32.23 USD
+0.12 (+0.37%)
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.
  • Of the past 5 years ONON 4 years were profitable.
  • 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

  • ONON has a better Return On Assets (7.19%) than 80.00% of its industry peers.
  • Looking at the Return On Equity, with a value of 12.48%, ONON is in the better half of the industry, outperforming 71.11% of the companies in the same industry.
  • ONON has a better Return On Invested Capital (14.11%) than 82.22% of its industry peers.
  • 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

  • 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.
  • 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 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

  • 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
  • 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 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 7.07 indicates that ONON is not in any danger for bankruptcy at the moment.
  • The Altman-Z score of ONON (7.07) is better than 93.33% of its industry peers.
  • The Debt to FCF ratio of ONON is 2.07, which is a good value as it means it would take ONON, 2.07 years of fcf income to pay off all of its debts.
  • With a decent Debt to FCF ratio value of 2.07, ONON is doing good in the industry, outperforming 77.78% of the companies in the same industry.
  • A Debt/Equity ratio of 0.27 indicates that ONON is not too dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.27, ONON is in the better half of 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 7.07
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 has a better Current ratio (2.71) than 77.78% of its industry peers.
  • ONON has a Quick Ratio of 2.13. This indicates that ONON is financially healthy and has no problem in meeting 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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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
  • The Revenue has grown by 30.01% in the past year. This is a very strong growth!
  • 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

  • Based on estimates for the next years, ONON will show a very strong growth in Earnings Per Share. The EPS will grow by 21.01% on average per year.
  • ONON is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 19.22% yearly.
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

  • The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
  • 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 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

  • With a Price/Earnings ratio of 29.73, ONON can be considered very expensive at the moment.
  • ONON's Price/Earnings ratio is a bit more expensive when compared to the industry. ONON is more expensive than 64.44% of the companies in the same industry.
  • ONON's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 25.23.
  • Based on the Price/Forward Earnings ratio of 19.22, the valuation of ONON can be described as rather expensive.
  • 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 22.51, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 29.73
Fwd PE 19.22
ONON Price Earnings VS Forward Price EarningsONON Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as ONON.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as ONON.
Industry RankSector Rank
P/FCF 29.88
EV/EBITDA 17.11
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.
  • A more expensive valuation may be justified as ONON's earnings are expected to grow with 43.50% in the coming years.
PEG (NY)0.54
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 (3/26/2026, 8:04:00 PM)

After market: 32.23 +0.12 (+0.37%)

32.11

-3.05 (-8.67%)

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 Cap10.63B
Revenue(TTM)3.01B
Net Income(TTM)203.80M
Analysts82.35
Price Target63.19 (96.79%)
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 29.73
Fwd PE 19.22
P/S 2.78
P/FCF 29.88
P/OCF 23.34
P/B 5.14
P/tB 5.32
EV/EBITDA 17.11
EPS(TTM)1.08
EY3.36%
EPS(NY)1.67
Fwd EY5.2%
FCF(TTM)1.07
FCFY3.35%
OCF(TTM)1.38
OCFY4.28%
SpS11.53
BVpS6.25
TBVpS6.04
PEG (NY)0.54
PEG (5Y)N/A
Graham Number12.32
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 7.07
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 29.73 and the Price/Book (PB) ratio is 5.14.