# On Holding AG Class A (ONON) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Consumer Cyclical / Textiles, Apparel & Luxury Goods. Price $27.99, market value $9.4 billion.

## Valuation
- **P/E (trailing): 19.3×**. On Holding AG Class A trades at 19.3× trailing earnings. The Consumer Cyclical median in the September 2026 study was 19.5×. Forward P/E is 13.5×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 2.4×**. Each dollar of revenue is priced at 2.4×.
- **Price / book: 4.0×**. The shares trade at 4.0× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: 5.7%**. Free cash flow equals 5.7% of the market value. Above 5% is generally attractive.
- **Earnings yield: 5.2%**. The inverse of the P/E: 5.2% of the price is earned each year.

## Profitability
- **Gross margin: 64.8%**. On Holding AG Class A keeps 64.8% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 13.8%**. 13.8% of revenue is left after running the business.
- **Net margin: 6.8%**. 6.8% of each dollar of sales reaches the bottom line.
- **Return on equity: 12.5%**. 12.5% on shareholders' equity is solid.
- **Return on assets: 14.0%**. Each dollar of assets produces 14.0% of profit.

## Growth
- **Revenue growth (1 yr): 30.0%** (3-yr 35.1%/yr, 5-yr 47.9%/yr). Revenue grew 30.0% over the last year, against 47.9% a year compounded over five years: growth is slowing.

## Financial health
- **Interest coverage: 19.5×**. Operating profit covers interest 19.5× over, a safe margin.
- **Current ratio: 2.71** (quick 2.71). Current assets cover the next year's liabilities 2.71 times.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. On Holding AG Class A does not currently pay a dividend.

## Analyst view
- **Analyst consensus: buy** (27 analysts). 27 analysts cover On Holding AG Class A; the consensus is buy, with an average price target of $44.62 (+59% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -39.2%** (YTD -39.8%, 3-mo -24.5%). The shares are down 39.2% over twelve months including dividends.
- **From 52-week high: -45.2%** (1.6% above the low). Trading 45% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 31**. An RSI of 31 is neutral.
- **Beta (1 yr): 1.42** (volatility 49%). Beta of 1.42 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=ONON · Page: https://foliofundamentals.com/stocks/onon

Not investment advice.