Logo image of ONON

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

NYSE:ONON - New York Stock Exchange, Inc. - CH1134540470 - Common Stock - Currency: USD

58.82  -0.32 (-0.54%)

After market: 58.51 -0.31 (-0.53%)

Fundamental Rating

6

Taking everything into account, ONON scores 6 out of 10 in our fundamental rating. ONON was compared to 48 industry peers in the Textiles, Apparel & Luxury Goods industry. While ONON has a great health rating, its profitability is only average at the moment. ONON is valued quite expensively, but it does show have an excellent growth rating. These ratings could make ONON a good candidate for growth investing.


Dividend Valuation Growth Profitability Health

Quickly go to:

6

1. Profitability

1.1 Basic Checks

ONON had positive earnings in the past year.
ONON had a positive operating cash flow in the past year.
In multiple years ONON reported negative net income over the last 5 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 has a better Return On Assets (10.19%) than 79.17% of its industry peers.
Looking at the Return On Equity, with a value of 17.41%, ONON is in the better half of the industry, outperforming 72.92% of the companies in the same industry.
ONON has a Return On Invested Capital of 10.67%. This is in the better half of the industry: ONON outperforms 66.67% of its industry peers.
The Average Return On Invested Capital over the past 3 years for ONON is below the industry average of 13.46%.
The last Return On Invested Capital (10.67%) for ONON is above the 3 year average (9.76%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 10.19%
ROE 17.41%
ROIC 10.67%
ROA(3y)6.46%
ROA(5y)-0.32%
ROE(3y)10.26%
ROE(5y)-0.1%
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 Profit Margin of 10.45%. This is amongst the best in the industry. ONON outperforms 85.42% of its industry peers.
ONON has a Operating Margin of 9.12%. This is in the better half of the industry: ONON outperforms 62.50% of its industry peers.
ONON's Operating Margin has improved in the last couple of years.
With a decent Gross Margin value of 60.63%, ONON is doing good in the industry, outperforming 79.17% of the companies in the same industry.
ONON's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 9.12%
PM (TTM) 10.45%
GM 60.63%
OM growth 3YN/A
OM growth 5Y33.73%
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

More info and screens

8

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), ONON is creating value.
Compared to 1 year ago, ONON has more shares outstanding
The number of shares outstanding for ONON has been increased compared to 5 years ago.
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 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 11.84. This indicates that ONON is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 11.84, ONON belongs to the top of the industry, outperforming 97.92% of the companies in the same industry.
The Debt to FCF ratio of ONON is 0.78, which is an excellent value as it means it would take ONON, only 0.78 years of fcf income to pay off all of its debts.
ONON has a better Debt to FCF ratio (0.78) than 85.42% of its industry peers.
A Debt/Equity ratio of 0.21 indicates that ONON is not too dependend on debt financing.
ONON has a better Debt to Equity ratio (0.21) than 64.58% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 0.78
Altman-Z 11.84
ROIC/WACC2.15
WACC4.96%
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 2.66 indicates that ONON has no problem at all paying its short term obligations.
The Current ratio of ONON (2.66) is better than 72.92% of its industry peers.
A Quick Ratio of 2.03 indicates that ONON has no problem at all paying its short term obligations.
ONON has a Quick ratio of 2.03. This is amongst the best in the industry. ONON outperforms 93.75% of its industry peers.
Industry RankSector Rank
Current Ratio 2.66
Quick Ratio 2.03
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

More info and screens

8

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 30.88% over the past year.
ONON shows a strong growth in Revenue. In the last year, the Revenue has grown by 29.36%.
Measured over the past years, ONON shows a very strong growth in Revenue. The Revenue has been growing by 54.06% on average per year.
EPS 1Y (TTM)30.88%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-30.3%
Revenue 1Y (TTM)29.36%
Revenue growth 3Y47.35%
Revenue growth 5Y54.06%
Sales Q2Q%42.98%

3.2 Future

ONON is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 22.67% yearly.
ONON is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 20.24% yearly.
EPS Next Y1.25%
EPS Next 2Y15.88%
EPS Next 3Y21.16%
EPS Next 5Y22.67%
Revenue Next Year27.8%
Revenue Next 2Y26.06%
Revenue Next 3Y25.58%
Revenue Next 5Y20.24%

3.3 Evolution

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 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 0.5 1 1.5 2 2.5

More info and screens

1

4. Valuation

4.1 Price/Earnings Ratio

ONON is valuated quite expensively with a Price/Earnings ratio of 54.46.
Compared to the rest of the industry, the Price/Earnings ratio of ONON indicates a slightly more expensive valuation: ONON is more expensive than 68.75% of the companies listed in the same industry.
ONON's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 26.03.
ONON is valuated quite expensively with a Price/Forward Earnings ratio of 36.55.
Based on the Price/Forward Earnings ratio, ONON is valued a bit more expensive than the industry average as 66.67% of the companies are valued more cheaply.
ONON is valuated expensively when we compare the Price/Forward Earnings ratio to 21.94, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 54.46
Fwd PE 36.55
ONON Price Earnings VS Forward Price EarningsONON Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, ONON is valued a bit more expensive than the industry average as 77.08% of the companies are valued more cheaply.
Based on the Price/Free Cash Flow ratio, ONON is valued a bit more expensive than the industry average as 60.42% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF 35.31
EV/EBITDA 47.87
ONON Per share dataONON EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
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 21.16% in the coming years.
PEG (NY)43.72
PEG (5Y)N/A
EPS Next 2Y15.88%
EPS Next 3Y21.16%

More info and screens

0

5. Dividend

5.1 Amount

No dividends for ONON!.
Industry RankSector Rank
Dividend Yield N/A

More info and screens

ON HOLDING AG-CLASS A

NYSE:ONON (5/22/2025, 4:07:52 PM)

After market: 58.51 -0.31 (-0.53%)

58.82

-0.32 (-0.54%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryTextiles, Apparel & Luxury Goods
Earnings (Last)05-13 2025-05-13/bmo
Earnings (Next)08-11 2025-08-11/bmo
Inst Owners62.68%
Inst Owner Change5.24%
Ins Owners23.88%
Ins Owner ChangeN/A
Market Cap19.05B
Analysts83.53
Price Target61.23 (4.1%)
Short Float %6.05%
Short Ratio2.37
Dividend
Industry RankSector Rank
Dividend Yield N/A
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)39.89%
Min EPS beat(2)-22.6%
Max EPS beat(2)102.39%
EPS beat(4)2
Avg EPS beat(4)48.45%
Min EPS beat(4)-22.6%
Max EPS beat(4)127.21%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)0.56%
Min Revenue beat(2)0.14%
Max Revenue beat(2)0.98%
Revenue beat(4)3
Avg Revenue beat(4)0.12%
Min Revenue beat(4)-0.82%
Max Revenue beat(4)0.98%
Revenue beat(8)6
Avg Revenue beat(8)0.79%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-6.33%
PT rev (3m)-4.41%
EPS NQ rev (1m)-0.64%
EPS NQ rev (3m)2.76%
EPS NY rev (1m)-5.83%
EPS NY rev (3m)-5.07%
Revenue NQ rev (1m)0.35%
Revenue NQ rev (3m)3.06%
Revenue NY rev (1m)-0.95%
Revenue NY rev (3m)-0.03%
Valuation
Industry RankSector Rank
PE 54.46
Fwd PE 36.55
P/S 6.79
P/FCF 35.31
P/OCF 30.82
P/B 11.31
P/tB 11.8
EV/EBITDA 47.87
EPS(TTM)1.08
EY1.84%
EPS(NY)1.61
Fwd EY2.74%
FCF(TTM)1.67
FCFY2.83%
OCF(TTM)1.91
OCFY3.24%
SpS8.67
BVpS5.2
TBVpS4.98
PEG (NY)43.72
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 10.19%
ROE 17.41%
ROCE 12.32%
ROIC 10.67%
ROICexc 24.91%
ROICexgc 27.05%
OM 9.12%
PM (TTM) 10.45%
GM 60.63%
FCFM 19.22%
ROA(3y)6.46%
ROA(5y)-0.32%
ROE(3y)10.26%
ROE(5y)-0.1%
ROIC(3y)9.76%
ROIC(5y)N/A
ROICexc(3y)17.02%
ROICexc(5y)N/A
ROICexgc(3y)18.47%
ROICexgc(5y)N/A
ROCE(3y)11.26%
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5Y30.63%
ROICexc growth 3YN/A
ROICexc growth 5Y30.6%
OM growth 3YN/A
OM growth 5Y33.73%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.7%
GM growth 5Y2.51%
F-Score5
Asset Turnover0.98
Health
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 0.78
Debt/EBITDA 0.92
Cap/Depr 62.14%
Cap/Sales 2.8%
Interest Coverage 13.82
Cash Conversion 161.53%
Profit Quality 183.9%
Current Ratio 2.66
Quick Ratio 2.03
Altman-Z 11.84
F-Score5
WACC4.96%
ROIC/WACC2.15
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)30.88%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-30.3%
EPS Next Y1.25%
EPS Next 2Y15.88%
EPS Next 3Y21.16%
EPS Next 5Y22.67%
Revenue 1Y (TTM)29.36%
Revenue growth 3Y47.35%
Revenue growth 5Y54.06%
Sales Q2Q%42.98%
Revenue Next Year27.8%
Revenue Next 2Y26.06%
Revenue Next 3Y25.58%
Revenue Next 5Y20.24%
EBIT growth 1Y17.37%
EBIT growth 3YN/A
EBIT growth 5Y106.03%
EBIT Next Year96.49%
EBIT Next 3Y47.63%
EBIT Next 5Y34.12%
FCF growth 1Y141%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y119.99%
OCF growth 3Y211.15%
OCF growth 5YN/A