Added to YB: 2026-09-11
Pitch date: 2026-09-09
ONON [bullish]
On Holding AG
Author Info
No bio for this author
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
$7.3B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
11.40
P/E
18.37
EV/Sales
2.05
Sector
Textiles, Apparel and Luxury Goods
Category
growth
On Holding AG - $ONON
ONON (quick overview): Running remains On’s engine, but racquet sports—especially tennis—could become another consumer-acquisition, apparel and cultural engine after years of investment in products, athletes and Roger Federer’s partnership. The analogy is Nike: it invested in basketball before the sport’s cultural relevance exploded and was positioned to monetize it. The category × sport × channel model supports roughly 23–25% revenue growth in 2027–28, ~65%+ gross margin and EBITDA-margin expansion; racquet need not carry the company to raise its ceiling.
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