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

33.78 0.98 +2.99%
Market cap
$10.8B
P/E
43.2×
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) P/E ratio

Alert me on P/E ratio

As of 30 October 2026, On Holding AG (ONON) trades at a P/E ratio of 43.2×. Over the past ten years it has ranged from 0.0× (December 2022) to 504× (August 2023); the current reading is higher than 28% of that period. That is above the Footwear & Accessories industry median of 15.8× and above the Consumer Cyclical sector median of 17.8×.

P/E ratio, daily

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Annual newest first

Period P/E ratio Change
FY2025 120× (4.81%)
FY2024 126× (32.12%)
FY2023 186× 4.84%
FY2022 177× —
FY2021 0.0× —
FY2020 0.0× —
FY2019 0.0× —

Quarterly newest first

Period P/E ratio Change
Jun 2026 45.3× (34.10%)
Mar 2026 68.8× (42.74%)
Dec 2025 120× 17.92%
Sep 2025 102× (53.79%)
18 more quarters

Against its own ten years

Low 0.0× High 504×
Ten-year median 116×
Current reading's percentile 5

P/E ratio against peers

Company P/E ratio
FOSL Fossil Group, Inc. compare n/m
DECK Deckers Outdoor Corporation compare 11.6×
CROX Crocs, Inc. compare 12.9×
WEYS Weyco Group, Inc. compare 14.3×
BIRK Birkenstock Holding PLC compare 15.7×
WWW Wolverine World Wide, Inc. compare 16.0×
NKE NIKE, Inc. compare 18.5×
SHOO Steven Madden, Ltd. compare 21.5×
ONON On Holding AG 43.2×
Footwear & Accessories industry median 15.8×
Consumer Cyclical sector median 17.8×
Market median 18.6×

What P/E ratio is

Price to Earnings Ratio shows how much investors pay for each dollar of a company’s annual profit per share.

Stock Price ÷ EPS (Basic) (TTM)

The full definition of P/E ratio →

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