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MARKETS / NYSE / Materials / Rubber and plastics / ONON
NYSE · RUBBER & PLASTICS FOOTWEAR · LARGE CAP

On Holding AG ONON

7 fiscal years on record · CHF · FY2025 reported · SEC filings only
CHF 3.0B
▲ 30.0% YoY
CHF 203.7M
▼ 15.9% YoY
CHF 286.6M
▼ 36.3% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

On Holding AG engineers, designs, develops and tests its footwear, apparel and accessories in Switzerland. As of December 31, 2025, its global footprint included 67 retail locations across the Americas, EMEA and Asia-Pacific. It sells through wholesale and direct-to-consumer channels. The wholesale channel spans run specialty, general sporting goods, outdoor, luxury and street fashion retailers. The direct-to-consumer channel includes an e-commerce platform, launched in 2012, that reaches consumers worldwide. It does not own or operate any significant manufacturing facilities. Substantially all of its products are supplied by third parties. It has sold footwear, apparel and accessories across running, outdoor, training and tennis, as well as everyday activities, since its market launch in 2010.

Written from the business description in On Holding AG's annual report to the U.S. Securities and Exchange Commission, filed 3 March 2026. Every sentence was checked against that document before publication.

Growth

CHF 3.0B
Revenue, FY2025 · full 7-year series below
Revenue CHF B Net income CHF B
FY2025 · Revenue 3.0 · Net income 0.2
2B3B
201920222025
Compound annual growth
+35.1%
+47.9%
+52.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +47.9% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

7 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 12.5% · Net 6.8%
5%10%-10%-20%
201920222025
ROE
FY2025 · ROE 13.5%
5%10%15%-10%-20%-30%
201920222025
Three returns, three denominators.
Gross margin62.8%
Operating margin12.5%
Net margin6.8%
EBITDA·

Each CHF of equity produced 13 cents of profit this year.

Cash & shareholders

CHF 0.00
returned in FY2025 · dividends + net buybacks
Free cash flow CHF M
FY2025 · FCF 286.6
200M400M-150M-300M
201920222025
Net buybacks CHF M Dividends CHF M
FY2025 · Dividends · · Net buybacks -8.4
10M20M-10M-20M
20212022202320242025
Dividends paid·
Net buybacksCHF -8.4M
Share of profit0.0%
Consecutive raises·

Total assetsCHF 2.8B
CashCHF 1.0B
Current ratio2.71×

Not available: we don't have the total debt figure for this period.

The 7-year record

7 fiscal years
Every figure from documents filed with the SEC · CHF
row low → row highnegative—not applicable◌not available in our data
ONON, 7-year financial record
Metric 2025202420232022202120202019
Revenue CHF B3.02.31.81.20.70.40.3
Operating income CHF B0.40.20.20.1−0.1−0.00.0
EBITDA CHF B◌◌◌◌◌◌◌
Income tax CHF B0.00.0−0.00.00.00.00.0
Net income CHF B0.20.20.10.1−0.2−0.0−0.0
Free cash flow CHF B0.30.50.2−0.3−0.0−0.0−0.0
EPS, diluted CHF ◌◌◌◌◌◌◌
Dividend / sh CHF ◌◌◌◌◌◌◌
Payout % — not applicable: no dividend———————
ROE %13.519.67.86.3−31.1−17.8−2.3

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 26 reconciliationsAUDITED

Reconciled in 7 of the 7 fiscal years we could check. 26 checks were skipped: the balance sheet is not tagged before 2020. 12 checks were skipped: revenue is not tagged before 2019.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityRubber & Plastics Footwear
Listed onNYSE
Incorporated inoutside the United States — SEC code V8
Fiscal year endsDecember 31
Data on record since2019

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