Stocks Consumer discretionary ONON
NYSE · Consumer discretionaryOn Holding AG (ONON)
On Holding AG reported revenue of CHF 3B in fiscal 2025, up 30.0% from a year earlier. Net income was CHF 203.7M, a net margin of 6.8%. Operating cash flow minus capital spending left CHF 286.6M of free cash flow in fiscal 2025. At December 31, 2025 it held CHF 1B in cash. Its latest periodic report to the SEC is the annual report (foreign issuer) (20-F) filed on March 3, 2026.
Key facts about On Holding AG
- Net worth
- On Holding AG has a market value (market cap) of $20.9B at the latest share price, and shareholders' equity of CHF 1.6B on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was CHF 3B (+30.0% year on year), with net income of CHF 203.7M.
- Cash flow
- In fiscal 2025 operations brought in CHF 359.5M of cash; after CHF 72.9M of capital spending, free cash flow was CHF 286.6M.
- Latest report
- The latest periodic report (annual report (foreign issuer), 20-F) was filed with the SEC on March 3, 2026 and covers the period to December 31, 2025. Open on SEC EDGAR
What On Holding AG does
On Holding AG is registered with the SEC under industry code SIC 3021 (Rubber & Plastics Footwear). Its shares trade on NYSE under the ticker ONON.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | CHF 3B | CHF 203.7M | n/a | CHF 286.6M |
| 2024 | CHF 2.3B | CHF 242.3M | n/a | CHF 450.1M |
| 2023 | CHF 1.8B | CHF 79.6M | n/a | CHF 189.3M |
| 2022 | CHF 1.2B | CHF 57.7M | n/a | -CHF 287.3M |
| 2021 | CHF 724.6M | -CHF 170.2M | n/a | -CHF 7.7M |
| 2021 | CHF 425.3M | -CHF 27.5M | n/a | -CHF 25.7M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where ONON ranks in Consumer discretionary
Latest SEC filings
What On Holding AG has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 5, 2026Passive stake changed SCHEDULE 13G/A
- September 22, 2026
- August 14, 2026Passive stake (5% or more) SCHEDULE 13G
- August 12, 2026Passive stake changed SCHEDULE 13G/A
- August 12, 2026Passive stake (5% or more) SCHEDULE 13G
- August 11, 2026
- August 6, 2026Passive stake changed SCHEDULE 13G/A
- May 28, 2026
- May 12, 2026
- May 6, 2026Passive stake changed SCHEDULE 13G/A
Insider trades
What the people running On Holding AG did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders bought $4M and sold $60K worth of shares in the last 90 days.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| September 24, 2026 | Durkin Dennis MDirector | Shares withheld for tax | 723 | $21.8K |
| September 24, 2026 | Miele LauraDirector | Shares withheld for tax | 609 | $18.4K |
| September 24, 2026 | Helmersson HelenaDirector | Shares withheld for tax | 633 | $19.1K |
| September 21, 2026 | Durkin Dennis MDirector | Received as pay | 2,892 | - |
| September 21, 2026 | Banse AmyDirector | Received as pay | 2,433 | - |
| September 21, 2026 | Miele LauraDirector | Received as pay | 2,433 | - |
| September 21, 2026 | Perez AlexandreDirector | Received as pay | 2,892 | - |
| September 21, 2026 | Helmersson HelenaDirector | Received as pay | 2,433 | - |
Who owns ONON
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| David Allemann13G, passive with 2 related filers | 12.9% | August 12, 2026 |
| Baron Capital Group, Inc.13G, passive with 3 related filers | 5.65% | August 14, 2026 |
| Fmr LLC13G, passive with 1 related filers | 5.4% | August 6, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 492 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Morgan Stanley | 20,447,122 | -2,019,240 |
| Bamco Inc | 16,929,770 | +7,215,165 |
| Fmr LLC | 16,039,135 | -8,040,302 |
| Lone Pine Capital LLC | 13,280,030 | new |
| PeakShares LLC | 12,617 | +330 |
| Platinum Paramount Investment Ltd. | 11,312,048 | 0 |
| Sinvest Investments II Ltd. | 8,400,000 | 0 |
| Sands Capital Management, LLC | 7,485,043 | +1,159,496 |
| Citadel Advisors LLC | 7,100,157 | +3,253,000 |
| BlackRock, Inc. | 5,535,923 | -227,339 |
| Jane Street Group, LLC | 5,243,115 | +14,309 |
| UBS Group AG | 5,034,071 | -2,320,806 |
| Marshall Wace, Llp | 3,492,787 | +2,228,779 |
| Goldman Sachs Group Inc | 3,378,086 | +783,189 |
| Ameriprise Financial Inc | 3,214,087 | +612,999 |
| Norges Bank | 3,183,343 | new |
| Ilex Capital Partners (UK) LLP | 3,028,301 | -3,557,699 |
| Wellington Management Group Llp | 2,751,615 | +62,404 |
| State Street Corp | 2,445,694 | -82,826 |
| Pertento Partners LLP | 2,228,412 | +1,916,366 |
Insiders
11 insiders reported holding 21,884,224 shares in total, about $759.4M at the last price.
| Holder | Shares |
|---|---|
| Perez AlexandreDirector | 9,778,074 |
| Bernhard OlivierExecutive Officer, Director | 5,228,184 |
| Allemann David MichaelExecutive Officer & Co-CEO, Director | 2,841,108 |
| Coppetti Caspar FelixExecutive Officer & Co-CEO, Director | 2,440,855 |
| Hoffmann MartinCEO | 1,385,099 |
| Durkin Dennis MDirector | 103,755 |
| Banse AmyDirector | 81,914 |
| Miele LauraDirector | 10,720 |
| Maguire Scott AndrewCOO | 7,329 |
| Helmersson HelenaDirector | 6,189 |
Questions about ONON
What does On Holding AG do?
On Holding AG is a company in the Consumer discretionary sector, listed on NYSE as ONON. Its shares trade on NYSE under the ticker ONON.
What is On Holding AG's net worth?
On Holding AG has a market value (market cap) of $20.9B at the latest share price, and shareholders' equity of CHF 1.6B on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is On Holding AG profitable?
Yes. In fiscal 2025 it reported net income of CHF 203.7M on revenue of CHF 3B, a net margin of 6.8%.
How much revenue does On Holding AG make?
In fiscal 2025 On Holding AG reported revenue of CHF 3B. That is 30.0% more than a year earlier.
When did On Holding AG last report?
Its most recent periodic report is the annual report (foreign issuer) (20-F) filed on March 3, 2026. It covers the period to December 31, 2025. Its newest filing of any kind is the planned insider sale from November 6, 2026.
Similar companies
Compare ONON with
Follow ONON
Get an email when On Holding AG files with the SEC: results, executive changes, material agreements and annual reports.
Where the numbers come from
Financial figures are the values On Holding AG tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.