Professional
Added to YB: 2024-01-08
Pitch date: 2024-01-08
ONON [bullish]
On Holding AG
+19.02%
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
$9.1B
Pitch Price
$28.29
Price Target
35.00 (+4%)
Dividend
N/A
EV/EBITDA
17.23
P/E
45.24
EV/Sales
2.85
Sector
Textiles, Apparel and Luxury Goods
Category
growth
On Holding AG (ONON - Outperform) Bullish Fresh Pick
ONON: Booming global sportswear brand targeting $70B+ market. Low US/UK awareness but sees 46% '23 rev growth, 15% EBITDA margin (+250bp). '24 pipeline: 25%+ growth, higher margins. By '26: 26%+ CAGR to CHF3.55B+, 18%+ EBITDA, 60%+ gross margin. Risks: Supply chain, competition, expansion, sustainability goals.
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