On Holding AG

As of June 30, 2026, On Holding AG Class A carries a market capitalization of 10.37B, placing it among publicly traded companies globally. Its enterprise value stands at 9.61B, reflecting the total theoretical takeover cost after accounting for cash holdings and debt obligations.

On Holding AG Class A's next confirmed earnings release is scheduled for November 17, 2026.

As of June 30, 2026, On Holding AG Class A has 334.21M shares outstanding.

As of June 30, 2026, On Holding AG Class A trades at a trailing price-to-earnings ratio of 45.87. The price-to-sales ratio is 5.64, and the price-to-book ratio stands at 5.01.

As of June 30, 2026, On Holding AG Class A trades at an EV/EBITDA multiple of 15.22 - the valuation measure that neutralizes differences in capital structure, tax rates, and depreciation policy, making it the standard yardstick for comparing companies across an industry. The EV/Sales ratio of 2.75 reflects the premium investors pay for the company's revenue stream, a useful check when earnings are depressed or negative. Its EV/EBIT multiple of 19.98 values the business against core operating earnings after depreciation, a stricter test than EV/EBITDA for capital-intensive businesses. On Holding AG Class A trades at an EV/FCF ratio of 19.71, comparing the total takeover cost of the business to the cash it actually generates for all capital providers. These enterprise value multiples are built on an enterprise value of 9.61B versus a market cap of 10.37B, with the gap driven by net debt and cash on the balance sheet.

As of June 30, 2026, On Holding AG Class A maintains a current ratio of 2.83, meaning it holds 2.8x the short-term assets needed to cover near-term liabilities. The debt-to-equity ratio is 29.43, indicating elevated leverage, while an interest coverage ratio of 25.56 demonstrates strong ability to service its debt obligations.

Over the twelve months ended June 30, 2026, On Holding AG Class A posted a return on equity (ROE) of 23.96, showing how much profit the company earns on every dollar of shareholder capital. Return on invested capital (ROIC) comes in at 17.77 - the clearest signal of whether the business earns more on its capital than that capital costs, and the core measure of a durable competitive advantage. Return on assets (ROA) stands at 13.70, measuring how efficiently the asset base is converted into earnings. Return on capital employed (ROCE) is 19.10, useful for judging operating efficiency across full business cycles. The company generates approximately 921,711.14 in revenue per employee across its workforce of 3,785.75, a quick read on workforce productivity versus industry peers. Inventory turnover of 2.72 indicates how many times On Holding AG Class A sells and replaces its inventory over a year, a key working capital efficiency ratio.

Over the twelve months ended June 30, 2026, On Holding AG Class A recorded 36.95M in income tax expense. That works out to an effective tax rate of 7.92, which can sit above or below the statutory corporate tax rate depending on foreign earnings mix, tax credits, and one-off items. Taxes are levied on pretax income of 466.35M, leaving 429.40M in net income after tax - the gap is what shifts in the tax rate do to reported earnings and EPS.

As of the close on October 22, 2026, On Holding AG Class A's stock has declined approximately 16.99% over the past 52 weeks. The 50-day moving average sits at 26.68, while the 200-day moving average is 31.91.

Over the twelve months ended June 30, 2026, On Holding AG Class A generated 3.49B in revenue and converted that into 429.40M in net income, yielding earnings per share of 0.67. EBITDA reached 631.48M, while operating income came in at 481.08M.

As of June 30, 2026, On Holding AG Class A holds 1.37B in cash and equivalents against 609.48M in total debt, resulting in a net debt position of -1.31B. Total book value stands at 2.07B, with working capital of 1.61B providing operational flexibility.

On Holding AG Class A produced 569.28M in operating cash flow over the twelve months ended June 30, 2026. After subtracting -104.34M in capital expenditures, free cash flow totaled 464.94M - equivalent to 0.73 per share.

Over the twelve months ended June 30, 2026, On Holding AG Class A posted a gross margin of 64.83, reflecting its pricing power and cost economics. The operating margin of 13.79 and net profit margin of 12.31 provide insight into operational efficiency.

Over the twelve months ended June 30, 2026, On Holding AG Class A paid dividends of - - per share. The dividend payout ratio of - - indicates the proportion of earnings distributed to shareholders, a key gauge of how sustainable the dividend is and how much room remains for future dividend growth. Free cash flow yield stands at 2.33, showing how much cash the business generates relative to its market value - dividends covered by free cash flow are generally more durable than those funded by debt. Total shareholder yield reaches 0.89, combining dividends paid with share buybacks and debt reduction for a fuller picture of capital returned to On Holding AG Class A shareholders.

As of June 30, 2026, On Holding AG Class A has an Altman Z-Score of 6.60, well above the 3.0 threshold that indicates strong financial health and minimal bankruptcy risk.