On Holding AG (ONON) vs Wolverine World Wide, Inc. (WWW)

On Holding AG and Wolverine World Wide, Inc. are both Footwear & Accessories companies. On Holding AG is the larger, with a market value of $10.8B against $1.7B — 6.4× the size. Wolverine World Wide, Inc. trades at the lower P/E: 16.0× against 43.2×. On Holding AG grew revenue faster over the last twelve months: 29.2% against 7.16%. On Holding AG has the higher net margin (12.3% vs 5.55%) and the higher return on invested capital (25.0% vs 12.4%). Across the 21 metrics below, On Holding AG leads on 11 and Wolverine World Wide, Inc. on 10.

Valuation

Metric ONON WWW Footwear & Accessories median
P/E 43.18 16.02 15.84
P/S 5.29 0.87 1.13
P/B 8.87 3.62 3.19
Price to free cash flow 40.52 3.88 12.42
EV/EBITDA 28.02 10.81 10.14
EV/Sales 5.03 1.07 1.24
Earnings yield 2.32% 6.24% 5.41%
Free cash flow yield 2.47% 25.79% 4.92%

Profitability

Metric ONON WWW Footwear & Accessories median
Gross margin 64.74% 47.12% 49.08%
Operating margin 13.74% 8.69% 8.69%
Net margin 12.25% 5.55% 5.72%
Free cash flow margin 13.05% 8.97% 8.58%
Return on equity 24.18% 26.03% 13.13%
Return on assets 13.83% 6.15% 6.28%
Return on invested capital 25.00% 12.38% 10.98%

Growth

Metric ONON WWW Footwear & Accessories median
Revenue growth (TTM) 29.22% 7.16% (0.32%)
EPS growth (last fiscal year) (10.54%) 107.27% 12.95%
Revenue growth, 5-year CAGR 51.65% 0.91% 9.43%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ONON WWW Footwear & Accessories median
Debt to equity 0.25 1.17 0.49
Current ratio 2.83 1.55 2.26
Net debt to EBITDA (1.27) 1.93 0.38

Dividend

Metric ONON WWW Footwear & Accessories median
Dividend yield — 1.94% 1.94%
Payout ratio — 0.31 0.37

Size

Metric ONON WWW Footwear & Accessories median
Market cap 10.80b 1.69b 1.10b

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