$35.42
+0.01
(+0.03%)
As of Oct 20, 2026, 8:34 PM EDT · cached
Price history
Today's analyst average
Analyst average over timeIndividual analyst targets
Analyst history starts Sep 22, 2026, the first target we tracked for ONON.
On (ONON) is trading up at $35.42 (+0.03%), as of the latest quote. It is a Russell 1000 constituent in the Consumer Discretionary sector.
IPO: September 15, 2021 · $24.00 offering · NYSE · View IPO details →
Analyst price targets on ONON
One firm's current price target on On: $42 — 19% above the current $35.4. Each is tracked to its date and scored the same way a member's call is.
- Goldman Sachs $29.4 → $42 by Sep 2027 Sep 22, 2026 via Investing.com · Goldman Sachs's track record
Targets published by research firms, extracted from the news, checked against independent reporting, and linked to their source. Where a firm did not state a horizon the target is tracked as 12 months, the industry convention; the rows where the firm set its own horizon are marked. Reported here as facts about what was published — not recommendations from Dalsna Finance, and no firm listed is affiliated with this site.
On revenue & net income history (FY2019–FY2025)
RevenueNet incomeNet margin (right axis, %)
| FY2019Dec 2019 | FY2020Dec 2020 | FY2021Dec 2021 | FY2022Dec 2022 | FY2023Dec 2023 | FY2024Dec 2024 | FY2025Dec 2025 | |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | CHF 267.1M | CHF 425.3M | CHF 724.6M | CHF 1.22B | CHF 1.79B | CHF 2.32B | CHF 3.01B |
| Growth (year over year) | — | +59.2% | +70.4% | +68.7% | +46.6% | +29.4% | +30.0% |
| Gross profit | CHF 143.1M | CHF 231.1M | CHF 430.3M | CHF 684.9M | CHF 1.07B | CHF 1.41B | CHF 1.89B |
| Gross margin | 53.6% | 54.3% | 59.4% | 56.0% | 59.6% | 60.6% | 62.8% |
| Operating income | CHF 5.69M | −CHF 17.1M | −CHF 141.1M | CHF 85.1M | CHF 180.2M | CHF 211.6M | CHF 377.0M |
| Operating margin | 2.1% | −4.0% | −19.5% | 7.0% | 10.1% | 9.1% | 12.5% |
| Net income | −CHF 1.47M | −CHF 27.5M | −CHF 170.2M | CHF 57.7M | CHF 79.6M | CHF 242.3M | CHF 203.7M |
| Net margin | −0.6% | −6.5% | −23.5% | 4.7% | 4.4% | 10.5% | 6.8% |
| Balance sheet | |||||||
| Cash and equivalents | — | CHF 90.6M | CHF 653.1M | CHF 371.0M | CHF 494.6M | CHF 924.3M | CHF 1.02B |
| Total assets | — | CHF 382.6M | CHF 1.24B | CHF 1.38B | CHF 1.59B | CHF 2.38B | CHF 2.84B |
| Total liabilities | — | CHF 137.5M | CHF 388.1M | CHF 412.9M | CHF 518.5M | CHF 984.9M | CHF 1.20B |
| Shareholders' equity | CHF 64.4M | CHF 245.1M | CHF 848.4M | CHF 969.5M | CHF 1.07B | CHF 1.39B | CHF 1.63B |
| Cash flow | |||||||
| Operating cash flow | −CHF 5.22M | −CHF 14.7M | CHF 16.9M | −CHF 227.0M | CHF 232.1M | CHF 510.6M | CHF 359.5M |
| Capital expenditure | CHF 7.43M | CHF 11.0M | CHF 24.6M | CHF 60.3M | CHF 42.8M | CHF 60.5M | CHF 72.9M |
| Free cash flow | −CHF 12.7M | −CHF 25.7M | −CHF 7.70M | −CHF 287.3M | CHF 189.3M | CHF 450.1M | CHF 286.6M |
| Share buybacks | — | — | CHF 22.8M | CHF 1.60M | CHF 800.0K | CHF 400.0K | CHF 200.0K |
RevenueNet incomeNet margin (right axis, %)
| Q2 FY23Jun 2023 | Q4 FY23Dec 2023 | Q1 FY24†Mar 2024 | Q2 FY24Jun 2024 | Q4 FY24Dec 2024 | Q1 FY25†Mar 2025 | Q2 FY25Jun 2025 | Q4 FY25Dec 2025 | |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | CHF 444.3M | — | CHF 508.2M | CHF 567.7M | — | CHF 726.6M | CHF 749.2M | — |
| Growth (year over year) | +52.3% | — | +20.9% | +27.8% | — | +43.0% | +32.0% | — |
| Gross profit | CHF 264.5M | — | CHF 303.4M | CHF 340.2M | — | CHF 435.3M | CHF 460.8M | — |
| Gross margin | 59.5% | — | 59.7% | 59.9% | — | 59.9% | 61.5% | — |
| Operating income | CHF 39.4M | — | CHF 38.5M | CHF 47.3M | — | CHF 77.0M | CHF 92.8M | — |
| Operating margin | 8.9% | — | 7.6% | 8.3% | — | 10.6% | 12.4% | — |
| Net income | CHF 3.30M | — | CHF 91.4M | CHF 30.8M | — | CHF 56.7M | −CHF 40.9M | — |
| Net margin | 0.7% | — | 18.0% | 5.4% | — | 7.8% | −5.5% | — |
| Balance sheet | ||||||||
| Cash and equivalents | CHF 337.1M | CHF 494.6M | — | CHF 652.4M | CHF 924.3M | — | CHF 846.6M | CHF 1.02B |
| Total assets | CHF 1.54B | CHF 1.59B | — | CHF 2.05B | CHF 2.38B | — | CHF 2.54B | CHF 2.84B |
| Total liabilities | CHF 510.4M | CHF 518.5M | — | CHF 814.8M | CHF 984.9M | — | CHF 1.15B | CHF 1.20B |
| Shareholders' equity | CHF 1.03B | CHF 1.07B | CHF 1.18B | CHF 1.23B | CHF 1.39B | CHF 1.46B | CHF 1.40B | CHF 1.63B |
| Cash flow | ||||||||
| Share buybacks | CHF 400.0K | — | CHF 0 | CHF 100.0K | — | — | — | — |
From On's 20-F and 6-K filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. Amounts are in Swiss Franc (CHF), as reported, not converted to dollars. Per-share figures are per ordinary share, which is not always the share traded in the US: an ADS can stand for several, or for part of one. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →
About On
On Holding AG is a Swiss athletic shoe and performance sportswear company that designs and markets sports clothing and running shoes.
Source: Wikipedia — On (company)
- Headquarters
- 8005 Zurich, Switzerland From SEC filings, Oct 2026
Recent News (17)
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Jefferies maintains Underperform on On Holding stock citing margin pressures
Jefferies maintains Underperform on On Holding stock citing margin pressures
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Why Did ONON, LULU, PEP Stock Tumble To 52-Week Lows Today? Why Did ONON, LULU, PEP Stock Tumble To 52-Week Lows Today? Stocktwits
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On Holding Surges 13% as Investor Day Sets Ambitious Sales Target and $1B Buyback; Nike Ticks Up 2%
On Holding Surges 13% as Investor Day Sets Ambitious Sales Target and $1B Buyback; Nike Ticks Up 2%
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Goldman Sachs reiterates On Holding stock rating on 2029 targets
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Nike, On Holding, and Deckers Outdoor Are Down Between 23% and 43%. Here's the Stock to Buy, Even if the Fed Keeps Hiking Interest Rates.
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On Holding's Kylian Mbappé bet 'a direct challenge to Nike and Adidas': Analyst On Holding's Kylian Mbappé bet 'a direct challenge to Nike and Adidas': Analyst
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Soccer Star Mbappé Chooses On Holding Over Nike. The Two Stocks Head in Opposite Directions.
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Why Did ONON, LULU, PEP Stock Tumble To 52-Week Lows Today? Why Did ONON, LULU, PEP Stock Tumble To 52-Week Lows Today? TradingView
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Morgan Stanley resumes On Holding stock coverage with overweight rating
Morgan Stanley resumes On Holding stock coverage with overweight rating
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NIKE, Inc. (NYSE:NKE) Vs On Holding (NYSE:ONON) – Here’s What Jim Cramer Thinks
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Nike, Lululemon, Deckers, and On Holding Have All Plunged. What's the Best Buy of the Four?
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