Added to YB: 2025-08-19
Pitch date: 2025-08-15
ONON [neutral]
On Holding AG
+7.65%
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 engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis.
Market Cap
$10.9B
Pitch Price
$45.30
Price Target
N/A
Dividend
N/A
EV/EBITDA
22.42
P/E
49.54
EV/Sales
3.61
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)