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) Net margin

Alert me on Net margin

On Holding AG's net margin over the twelve months to 30 June 2026 was 12.3%, up 5.5 percentage points from fiscal 2025 (6.76%). Over the past ten years it has ranged from −23.5% (fiscal 2021) to 10.5% (fiscal 2024); the current reading is higher than 86% of that period. That is above the Footwear & Accessories industry median of 6.62% and above the Consumer Cyclical sector median of 2.12%.

Net margin, annual

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Annual newest first

Period Net margin Change (points)
FY2025 6.76% (3.69)
FY2024 10.5% 6.01
FY2023 4.44% (0.28)
FY2022 4.72% 28.21
FY2021 −23.5% (17.02)
FY2020 −6.47% (6.10)
FY2019 −0.37% —

Quarterly newest first

Period Net margin Change (points)
Jun 2026 12.4% (0.07)
Mar 2026 12.4% 3.40
Dec 2025 9.02% (5.95)
Sep 2025 15.0% 20.43
18 more quarters

Against its own ten years

Low −23.5% High 10.5%
Ten-year median 4.44%
Current reading's percentile 100

Net margin against peers

Company Net margin
DECK Deckers Outdoor Corporation compare 19.0%
CROX Crocs, Inc. compare 16.2%
BIRK Birkenstock Holding PLC compare 14.7%
WEYS Weyco Group, Inc. compare 12.4%
ONON On Holding AG 12.3%
NKE NIKE, Inc. compare 6.74%
WWW Wolverine World Wide, Inc. compare 5.55%
SHOO Steven Madden, Ltd. compare 5.23%
FOSL Fossil Group, Inc. compare −7.09%
Footwear & Accessories industry median 6.62%
Consumer Cyclical sector median 2.12%
Market median 1.06%

What Net margin is

Net Profit Margin tells an investor how much of each unit of revenue ends up as profit for shareholders after all costs, interest and taxes.

Net Income Allotted to Shareholders ÷ Revenue

The full definition of Net margin →

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