On Holding AG (ONON) FinancialsONONFinancialOn Holding AG

On Holding AG (ONON) generates its revenue through a diversified portfolio of business segments. Currently, the largest contributor to its top-line growth is Shoes, accounting for 91.9% of total sales, equivalent to CHF 781.60M. Other significant revenue streams include Apparel and Accessories. Understanding this composition is critical for investors evaluating how ONON navigates market cycles within the Footwear industry.

Evaluating the bottom line, On Holding AG maintains a gross margin of 65.35%. This metric reflects the company's pricing power and manufacturing efficiency. Further down the income statement, the operating margin stands at 14.04%, while the net margin is 12.35%. These profitability ratios, combined with a Return on Equity (ROE) of 23.95%, provide a clear picture of how effectively ONON converts its operational activities into shareholder value.

In the context of the broader market, ONON competes directly with industry leaders such as LEVI and DECK. With a market capitalization of $9.64B, it holds a significant position in the sector. When comparing efficiency, ONON's gross margin of 65.35% stands against LEVI's 62.68% and DECK's 56.41%. Such benchmarking helps identify whether On Holding AG is trading at a premium or discount relative to its financial performance.

On Holding has shown fluctuating financial performance, with a gross margin of 65.35% in Q2 2026, but recent revenue misses and lowered guidance have raised concerns about future growth.