Professional
Added to YB: 2025-10-28
Pitch date: 2025-10-24
ONON [neutral]
On Holding AG
+12.85%
current return
Author Info
M Squared Capital is a former sell-side analyst in the Retail/Consumer industry sharing analysis on retail/consumer stocks. Sign up for the newsletter.
Company Info
On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis.
Market Cap
$10.9B
Pitch Price
$42.35
Price Target
N/A
Dividend
N/A
EV/EBITDA
22.42
P/E
49.54
EV/Sales
3.61
Sector
Textiles, Apparel and Luxury Goods
Category
growth
ONON: Good Story But Just Doesn't Turn Us On
ONON added to coverage: Warning signs flashing despite promotional activity across wholesale channels. China growth inflection key to offset Western market deceleration. Apparel business nascent. Approaching troublesome $3B sales barrier that few athletic brands break through easily. Only 6 brands in history meaningfully surpassed $5B: Nike, Adidas, Puma, Lulu, UA, New Balance.