Analysis of On Holding AG (ONON)’s performance, earnings and valuation

Nora Barnes

On Holding AG [ONON] stock prices are up 0.69% to $46.62 at the moment. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The ONON shares have gain 3.44% over the last week, with a monthly amount drifted -4.01%, and not seem to be holding up well over a long-time horizon.

From an analyst’s perspective:

On Holding AG [NYSE: ONON] stock has seen the most recent analyst activity on January 20, 2026, when Goldman upgraded its rating to a Buy but kept the price target unchanged to $59 for it. Previously, Guggenheim started tracking the stock with Buy rating on December 10, 2025, and set its price target to $59. On August 13, 2025, downgrade downgraded it’s rating to Underperform but maintained its price target of $40 on the stock. Raymond James downgraded its rating to an Outperform but stick to its price target of $66 on July 22, 2025. Telsey Advisory Group reiterated its recommendation of an Outperform and reduced its price target to $65 on May 07, 2025. Citigroup upgraded its rating to Buy for this stock on April 28, 2025, but kept the price target unchanged to $60. In a note dated April 01, 2025, Jefferies initiated a Hold rating and provided a target price of $44 on this stock.

The stock price of On Holding AG [ONON] has been fluctuating between $34.38 and $64.05 over the past year. Currently, Wall Street analysts expect the stock to reach $58.4 within the next 12 months. On Holding AG [NYSE: ONON] shares were valued at $46.62 at the most recent close of the market. An investor can expect a potential return of 25.27% based on the average ONON price forecast.

Analyzing the ONON fundamentals

The On Holding AG [NYSE:ONON] reported sales of 3.40B for trailing twelve months, representing a surge of 35.28%. Gross Profit Margin for this corporation currently stands at 0.62% with Operating Profit Margin at 0.12%, Pretax Profit Margin comes in at 0.08%, and Net Profit Margin reading is 0.08%. To continue investigating profitability, this company’s Return on Assets is posted at 0.08, Equity is 0.16 and Total Capital is 0.17. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.33.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance.

Ratios To Look Out For

It’s worth pointing out that On Holding AG [NYSE:ONON]’s Current Ratio is 2.55. In addition, the Quick Ratio stands at 2.05 and the Cash Ratio stands at 1.28. Considering the valuation of this stock, the price to sales ratio is 4.53, the price to book ratio is 7.95 and price to earnings (TTM) ratio is 58.71.

Transactions by insiders

Recent insider trading involved Marc Maurer, Officer, that happened on Dec 30 ’25 when 0.15 million shares were purchased. Officer, Martin Hoffman completed a deal on Dec 30 ’25 to buy 49800.0 shares. Meanwhile, Officer Martin Hoffmann bought 15000.0 shares on Dec 05 ’25.

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