Professional
Added to YB: 2026-03-20
Pitch date: 2026-01-30
ONON [bullish]
On Holding AG
-13.62%
current return
Author Info
No bio for this author
Company Info
On Holding AG, together with its subsidiaries, develops and distributes performance sports products under the On brand in Switzerland, the rest of Europe, the Middle East, Africa, the United States, the rest of the Americas, and the Asia-Pacific.
Market Cap
$10.3B
Pitch Price
$45.00
Price Target
N/A
Dividend
N/A
EV/EBITDA
19.64
P/E
51.20
EV/Sales
3.25
Sector
Textiles, Apparel and Luxury Goods
Category
growth
Baron Opportunity Fund New Position: On Holding AG
ONON (new position): Premium performance sportswear brand founded 2010, fastest-growing scaled athletic co. 60% rev wholesale, 40% DTC; 60% N.America, 25% Europe, 15% APAC. Expects >20% rev growth for years w/ margin expansion via brand awareness gains in core running + new categories (tennis, training, outdoor, apparel). Strong brand loyalty, innovation focus, sustainability commitment driving high-ROIC reinvestment.
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