Fossil Group, Inc. (FOSL) vs On Holding AG (ONON)

Fossil Group, Inc. and On Holding AG are both Footwear & Accessories companies. On Holding AG is the larger, with a market value of $10.8B against $405.1M — 26.7× the size. Fossil Group, Inc. has negative trailing earnings, so its P/E is not meaningful; On Holding AG trades at 43.2×. On Holding AG grew revenue faster over the last twelve months: 29.2% against −9.10%. On Holding AG has the higher net margin (12.3% vs −7.09%) and the higher return on invested capital (25.0% vs −1.76%). Across the 19 metrics below, On Holding AG leads on 14 and Fossil Group, Inc. on 5.

Valuation

Metric FOSL ONON Footwear & Accessories median
P/E n/m 43.18 15.84
P/S 0.40 5.29 1.13
P/B 5.28 8.87 3.19
Price to free cash flow n/m 40.52 12.42
EV/EBITDA 87.94 28.02 10.14
EV/Sales 0.52 5.03 1.24
Earnings yield (19.36%) 2.32% 5.41%
Free cash flow yield (9.50%) 2.47% 4.92%

Profitability

Metric FOSL ONON Footwear & Accessories median
Gross margin 56.73% 64.74% 49.08%
Operating margin (0.57%) 13.74% 8.69%
Net margin (7.09%) 12.25% 5.72%
Free cash flow margin (3.77%) 13.05% 8.58%
Return on equity (67.21%) 24.18% 13.13%
Return on assets (10.29%) 13.83% 6.28%
Return on invested capital (1.76%) 25.00% 10.98%

Growth

Metric FOSL ONON Footwear & Accessories median
Revenue growth (TTM) (9.10%) 29.22% (0.32%)
EPS growth (last fiscal year) 25.26% (10.54%) 12.95%
Revenue growth, 5-year CAGR (9.04%) 51.65% 9.43%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric FOSL ONON Footwear & Accessories median
Debt to equity 2.74 0.25 0.49
Current ratio 1.76 2.83 2.26
Net debt to EBITDA (13.61) (1.27) 0.38

Dividend

Metric FOSL ONON Footwear & Accessories median
Dividend yield — — 1.94%
Payout ratio — — 0.37

Size

Metric FOSL ONON Footwear & Accessories median
Market cap 405.10m 10.80b 1.10b

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