On Holding AGONON
NYSE • Consumer Cyclical
$35.18
P/E
56.74
PEG
—
FCF Yield
—
Rev Growth YoY
+21.7% YoY
Gross Margin
63.9%
Health Score
7/10
D/E Ratio
0.36
Confidence
MEDIUM
Business Snapshot
On Holding AG designs and markets premium performance footwear and apparel, best known for its CloudTec running shoe technology. The company operates in the global athletic apparel and footwear market, competing as a smaller but fast-growing challenger to industry giants like Nike and Adidas. With trailing twelve-month revenue of $3.01B, it is a mid-cap player that has carved out a strong niche in the running segment. A defining characteristic is its direct-to-consumer orientation combined with innovative cushioning technology, which drives premium pricing and brand loyalty.
Financial Health
Gross margin stands at 63.9%, down from 65.7% in the prior year, while net margin is thin at 6.8%. The balance sheet is conservative with a debt-to-equity ratio of 0.36x and a current ratio of 2.71x, indicating strong liquidity...
Risk Assessment
- VALUATION — P/E of 56.74x is elevated compared to the sector average of 24x, suggesting a significant premium for expected growth.
- REVENUE DECELERATION — Revenue declined 7.1% quarter-over-quarter, contrasting with a 21.7% year-over-year gain, signaling a short-term slowdown.
- 52-WEEK POSITION — At $35.18, the stock trades 42.6% below its 52-week high of $61.29, indicating recent price weakness.
- TECHNICALS — RSI, MACD, and moving average data unavailable for this period; momentum cannot be independently confirmed....