On Holding AG

ONON Consumer Cyclical Footwear & Accessories

On Holding AG’s revenue for fiscal 2025 (year ended December 2025) was $3.6 billion, up 38.1% from fiscal 2024.

Revenue
+18.5%
EPS
+368.3%
Free cash flow
+151.5%
Total debt
+16.0%

Quarter to June 2026, against a year earlier

37.47 1.15 −2.98%
Market cap
$12.4B
P/E
47.9×
Fwd P/E
22.6×
Dividend yield
—
F-score
6/9
Altman Z
14.41
Beneish M
−2.37
Dividend safety
n/a

On Holding AG (ONON) Debt to equity

Alert me on Debt to equity

On Holding AG's debt to equity at the end of the quarter to 30 June 2026 was 0.2×, down 0.0× from fiscal 2025 (0.3×). Over the past ten years it has ranged from 0.0× (fiscal 2023) to 0.3× (fiscal 2019); the current reading is higher than 86% of that period. That is below the Footwear & Accessories industry median of 0.5× and above the Consumer Cyclical sector median of 0.2×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 0.3× 30.10%
FY2024 0.2× —
FY2023 0.0× —
FY2022 0.1× (25.53%)
FY2021 0.2× 135.39%
FY2020 0.1× (71.79%)
FY2019 0.3× —

Quarterly newest first

Period Debt to equity Change
Jun 2026 0.2× (3.76%)
Mar 2026 0.3× (4.34%)
Dec 2025 0.3× (2.85%)
Sep 2025 0.3× (9.16%)
17 more quarters

Against its own ten years

Low 0.0× High 0.3×
Ten-year median 0.2×
Current reading's percentile 86

Debt to equity against peers

Company Debt to equity
DECK Deckers Outdoor Corporation compare 0.0×
WEYS Weyco Group, Inc. compare 0.0×
SHOO Steven Madden, Ltd. compare 0.1×
ONON On Holding AG 0.2×
NKE NIKE, Inc. compare 0.5×
BIRK Birkenstock Holding PLC compare 0.7×
CROX Crocs, Inc. compare 1.0×
WWW Wolverine World Wide, Inc. compare 1.2×
FOSL Fossil Group, Inc. compare 2.7×
Footwear & Accessories industry median 0.5×
Consumer Cyclical sector median 0.2×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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