Added to YB: 2025-08-19
Pitch date: 2025-08-15
ONON [neutral]
On Holding AG
-25.67%
current return
Author Info
Asymmetric Investing analyzes stocks that have an asymmetric return potential of 10x (or more) over the next decade. Sign up for the newsletter.
Company Info
On Holding AG, together with its subsidiaries, develops and distributes performance sports products under the On brand in Switzerland, the rest of Europe, the Middle East, Africa, the United States, the rest of the Americas, and the Asia-Pacific.
Market Cap
$9.1B
Pitch Price
$45.30
Price Target
N/A
Dividend
N/A
EV/EBITDA
17.23
P/E
45.24
EV/Sales
2.85
Sector
Textiles, Apparel and Luxury Goods
Category
growth
On Running - When Great Isn't Good Enough
ONON (earnings update): Q2 revenue +38.2%, gross margin 61.5%, op profit nearly doubled. Stock down on currency loss (139.9M CHF) & Jefferies downgrade predicting slower growth (high-teens vs. 25% est.). Outperforming Nike (-12% sales) & Hoka (+20%); strong DTC, apparel growth potential; raised guidance. P/S <2x Nike's despite superior margins & growth.
Read full article (5 min)