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ONON · On Holding AG

Track ONON — free
$33.63 +0.56 (+1.69%) At close · Nov 13
Market Cap
$11.25B
Shares
334.52M
Volume · Nov 13 6.07M Avg daily vol (3M) 10.54M

Price & Indicators

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20d MA 50d MA 200d MA Earnings Filing Insider Congress Investor day
Close$33.63 Open$33.50 Day$33.15–34.29 52W close$26.76–50.63 Avg vol 30d11.0M Short int29.3M · 8.7% of shares · 3.1d Short vol51% Last earningsNov 10, 2026 DataSep 2021–Nov 2026

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Mar 2, 2027 Est · unconfirmed · in 15 wks

Latest documents

2026
Nov 10
Earnings call
Record sales and margins as gross-margin guidance rises

On reported record sales of 931.4 million Swiss francs, up 17.8% at constant currency, and a record 66.9% gross margin excluding tariff refunds. Full-year sales growth remains in the low 20s; gross-margin guidance rose to around 66%.

6 source passages
On is a high-quality earnings compounder. Net sales of 931.4 million Swiss francs, a new record. Net sales grew 17.8% at constant currency and 17.2% reported. A gross margin of 66.9%, excluding tariff refunds, the highest in our history. We are reiterating our outlook for full year net sales growth in the low 20s at constant currency. We are raising our outlook from at least 65% to around 66%, excluding tariff refunds, reflecting our full price commitment, a higher DTC share, and the efficiencies that come with scale. Open the document at this passage
Nov 10
Current report 6-K
Record Q3 sales and raised gross-margin guidance

On Holding AG posted record Q3 net sales of CHF 931.4 million and a 72.6% gross profit margin. For 2026, adjusted EBITDA margin guidance remains 21.0% to 21.5%, while gross margin guidance is around 67.5% including U.S. tariff refunds.

Read from the first part of this long document
6 source passages
On Holding AG (NYSE: ONON) (“On,” “On Holding AG,” “Company,” “we,” “our,” “ours,” or “us”), has announced its financial results for the third quarter and nine-month period ended September 30, 2026. On delivers record net sales and the highest gross profit margin in its history as it pursues its ambition to redefine what a sportswear brand can be. Third quarter net sales increase by 17.2% year-over-year, or by 17.8% on a constant currency basis, to CHF 931.4 million, surpassing CHF 900 million in a quarter for the first time, with every channel, region and category contributing strongly. gross profit margin reaches 72.6%, or 66.9% excluding CHF 52.6 million of U.S. tariff refunds. For full-year 2026, On now expects: Gross profit margin: Expected to be around 67.5%, or around 66% excluding U.S. tariff refunds (previously at least 65%). Adjusted EBITDA margin: Expected to be in the range of 21.0% to 21.5%, or in the range of 19.5% to 20.0% excluding U.S. tariff refunds (unchanged). Open the document at this passage
Sep 22
Investor event
On Investor Day 2026

On targets more than 2.1 billion Swiss francs in added net sales by 29, above 65% gross margin and at least 22% adjusted EBITDA margins, while announcing a $1 billion share buyback framework over three years.

Read from the first part of this long document
Sep 22
Current report 6-K
Current report

On Holding AG targets 2026–2029 net sales growth in the high-teens and adjusted EBITDA margin of 22%+ by 2029, alongside adjusted EBITDA CAGR above 20%; it authorized up to USD 1 billion of Class A share repurchases through December 2029.

All documents

Metrics snapshot

Useful current figures from the complete screener profile.

Revenue (TTM)
$4.21B
Trailing 12 months
Net income (TTM)
$499.42M
Trailing 12 months
Revenue growth YoY
+17.2%
Year over year
Operating margin
15.3%
Trailing 12 months
P / E (TTM)
22.5
Trailing earnings · reciprocal yield 4.4%
FCF yield
4.8%
TTM · current market cap
Return on invested capital
—
Trailing 12 months
Net cash
—
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
+2.6%
Year over year · more shares
Price change (1Y)
-20.7%
Trailing year
Short interest
8.7%
Latest settlement · 3.1 days to cover
View all 125 metrics

Equibles Rating

blended score · not investment advice
Overall
Strong Sell
SellHoldBuy
Technical Sell Momentum Very Weak Sentiment Neutral Fundamentals Limited Quant / Vol Very High
Market backdrop VIX 19.3 · elevated Equity put/call 0.63
Technical
price trend
Sell
50 / 200-day cross No cross
Price vs 200-day avg −7%
below
Price vs 50-day avg +5%
above
RSI (14) 47
neutral
MACD trend Negative
52-week position 29%
mid-range
Momentum
relative strength
Very Weak
1-month return −3%
trailing
6-month return −17%
trailing
YTD return −28%
this year
Relative strength −17%
vs S&P · 6-mo
Sentiment
smart money
Neutral
Trend (MA cross) No cross
50d $32 › 200d $36 — 200d above 50d
Institutional flow Distributing
449 of 502 funds reported for Sep 30 · net -4.4M sh shares · +76 new
Insider flow Distributing
Net -$60.0K over 90 days · 100% sells
Short interest Falling
8.75% of shares out · ▼ -11.1% MoM · 3.1 days cover
Volume signal Normal
Volume near normal
Institution breadth Steady
502 holders — mid 3-yr range
Squeeze score 57
elevated · 0–100
Fundamentals
Limited
Not enough data for a confident read.
Quant / Vol
risk profile
Very High
Volatility 47%
annualized · 1-yr
Max drawdown −47%
past year
ATR 4.7%
of price · 14-day

Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.

Guidance & track record

Latest guidance · from the Earnings Call filed Aug 11, 2026
Adjusted EBITDA margin · full year Non-GAAP 19.5% – 20%
Previous outlook earlier release · from the Earnings Call filed May 12, 2026

Still-open targets the latest release did not restate under the same label.

Gross profit margin · full year at least 64.5%
Adjusted EBITDA margin · full year 19.5% – 20%
Gross margin · full year at least 64.5%

Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.

Technicals

trend & momentum for long-term holders Sell
2 · 3 · 1
50 / 200-day cross
No cross Neutral
Price vs 200-day avg
−7% Bearish
Price vs 50-day avg
+5% Bullish
RSI (14)
47 Neutral
MACD trend
Negative Bearish
52-week position
29% Neutral
Market signals — smart money & positioning
Bearish · 2 of 6
Trend (MA cross) No cross
50d $32 › 200d $36 — 200d above 50d
Institutional flow Distributing
449 of 502 funds reported for Sep 30 · net -4.4M sh shares · +76 new
Insider flow Distributing
Net -$60.0K over 90 days · 100% sells
Short interest Falling
8.75% of shares out · ▼ -11.1% MoM · 3.1 days cover
Volume signal Normal
Volume near normal
Institution breadth Steady
502 holders — mid 3-yr range
Price context
position in its 52-week range
Range low $27 Now $34 · 29% Range high $51
vs 200-day avg -7% vs 50-day avg +5%

Illustrative technical + ownership context — a signal mix, not investment advice.

Versus peers

Footwear & Accessories — same industry group
Open screener →
Company Mkt cap YTD Rev growth Y/Y P/E Short % shares
ONON
On Holding AG
this stock
$11.25B -27.6% — — 8.7%
NKE
NIKE, Inc.
$56.43B -40.4% +0.2% 18.2 6.3%
DECK
Deckers Outdoor Corp
$11.59B -16.3% +9.8% 11.6 8.2%
CROX
Crocs, Inc.
$7.49B +91.4% -1.5% 11.3 9.5%
BIRK
Birkenstock Holding plc
$5.99B -11.2% — — 3.8%

Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding

At a glance

key data from every section
Ownership
Institutional Holders Reducing
Holders
502
% held
67.1%
Reported
449 of 502
Top holder
MORGAN STANLEY
Held Float
View
Held by Funds
Fund positions
74
View
Short & Settlement
Short Interest Falling
Shares short
29.3M
Days to cover
3.1d
Change
-3.7M sh
View
Short Volume
Short vol %
51%
As of
Nov 13, 2026
Short Total
View
Fails to Deliver
FTD shares
3.0K
Value
$107.2K
As of
Oct 14, 2026
View
Off-Exchange
Off-exchange %
41.8%
Week of
Oct 5, 2026
Off-exch Lit
View
Smart Money
Insider Trades Net selling
Net (90d)
-$60.0K
Buyers / Sellers
0 / 2
Buyers Sellers
View
Congressional Trades Sell
Member
Angus S King, Jr.
Amount
$1.0K–$15.0K
Traded
Feb 13, 2026
View
Filings
SEC Filings
Latest
6-K
Filed
Nov 10, 2026
This year
12

On Holding AG posted record Q3 net sales of CHF 931.4 million and a 72.6% gross profit margin. For 2026, adjusted EBITDA margin guidance remains 21.0% to 21.5%, while gross margin guidance is around 67.5% including U.S. tariff refunds.

View
Proposed Sales
Value
$5.7M
Shares
165.3K
Filed
Apr 8, 2026
View
Earnings & Events
Webcasts
Last webcast
Nov 10, 2026
View
Investor Relations
Latest news
On Reports Results for the Third…
Published
Nov 10, 2026
View

Performance

5D 20D 120D MTD YTD
ONON -10.0% -3.2% -16.6% -0.4% -27.7%
SPY +2.6% -1.2% +0.5% -0.2% +10.6%
vs SPY -12.6% -2.1% -17.1% -0.3% -38.3%
Key facts CIK 1858985 CUSIP H5919C104 13F (30d) 407 filings 338 filers Visit website Investor relations