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On Holding Ltd (ONON) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

CONSUMER CYCLICAL · FOOTWEAR & ACCESSORIES · DATA UPDATED 2026-09-19

On Holding Ltd (ONON) operates in the FOOTWEAR & ACCESSORIES industry and is headquartered in Zurich, Switzerland with about 3,963 employees. Its market capitalization is roughly $9 billion. In the fiscal year ended 2025-12-31, ONON reported CHF 2.9B in revenue and CHF 195M in net income.

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.

Interactive charts & full statements → Open the ONON valuation workbench →

ONON Revenue & Earnings History — Annual Income Statement

Income statementTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-31
Total RevenueCHF 3.2BCHF 2.9BCHF 2.3BCHF 1.8BCHF 1.2BCHF 725MCHF 425MCHF 267M
Gross ProfitCHF 2.1BCHF 1.8BCHF 1.4BCHF 1.1BCHF 685MCHF 430MCHF 231MCHF 143M
Gross Margin %64.8%62.8%60.6%59.6%56.0%59.4%54.3%53.6%
Operating Income (EBIT)CHF 446MCHF 360MCHF 212MCHF 180MCHF 85M(CHF 141M)(CHF 17M)CHF 6M
Operating Margin %13.8%12.5%9.1%10.1%7.0%-19.5%-4.0%2.1%
Net IncomeCHF 399MCHF 195MCHF 242MCHF 80MCHF 58M(CHF 170M)(CHF 28M)(CHF 1M)
Net Margin %12.3%6.8%10.4%4.4%4.7%-23.5%-6.5%-0.5%
EBITDA—CHF 346MCHF 400MCHF 206MCHF 129M(CHF 126M)(CHF 12M)CHF 9M
Earnings Per Share (EPS)CHF 1.19CHF 0.58CHF 0.71CHF 0.25CHF 0.18CHF -0.55CHF -0.09CHF -0.00
Shares Outstanding (M)—334M339M323M320M311M306M306M

CHF; CHFM / CHFB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ONON Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-30
Total RevenueCHF 850MCHF 850MCHF 738MCHF 794MCHF 749MCHF 727MCHF 607MCHF 636MCHF 568M
Gross ProfitCHF 556MCHF 546MCHF 472MCHF 522MCHF 461MCHF 435MCHF 377MCHF 385MCHF 340M
Gross Margin %65.4%64.2%63.9%65.7%61.5%59.9%62.1%60.6%59.9%
Operating Income (EBIT)CHF 119MCHF 120MCHF 82MCHF 125MCHF 93MCHF 77MCHF 53MCHF 73MCHF 47M
Operating Margin %14.0%14.1%11.1%15.7%12.4%10.6%8.8%11.4%8.3%
Net IncomeCHF 105MCHF 106MCHF 69MCHF 119M(CHF 41M)CHF 57MCHF 90MCHF 30MCHF 31M
Net Margin %12.3%12.4%9.3%15.0%-5.5%7.8%14.8%4.8%5.4%
EBITDA—CHF 163MCHF 111MCHF 159M(CHF 9M)CHF 98MCHF 119MCHF 64MCHF 73M
Earnings Per Share (EPS)CHF 0.31CHF 0.31CHF 0.21CHF 0.36CHF -0.12CHF 0.17CHF 0.26CHF 0.09CHF 0.09
Shares Outstanding (M)—336M334M334M339M339M339M339M327M

CHF; CHFM / CHFB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ONON Free Cash Flow History

Cash flowTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-31
Cash from Operations (CFO)CHF 514MCHF 323MCHF 511MCHF 232M(CHF 227M)CHF 17M(CHF 15M)(CHF 5M)
Capital Expenditures (CapEx)CHF 92MCHF 70MCHF 65MCHF 47MCHF 83MCHF 36MCHF 19MCHF 9M
Free Cash Flow (FCF)—CHF 253MCHF 446MCHF 185M(CHF 310M)(CHF 19M)(CHF 33M)(CHF 14M)
FCF Margin %—8.8%19.2%10.3%-25.4%-2.7%-7.8%-5.4%

CHF; CHFM / CHFB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ONON Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-30
Cash from Operations (CFO)CHF 226MCHF 24MCHF 107MCHF 157MCHF 101M(CHF 12M)CHF 169MCHF 158MCHF 102M
Capital Expenditures (CapEx)CHF 28MCHF 17MCHF 27MCHF 20MCHF 17MCHF 12MCHF 20MCHF 19MCHF 17M
Free Cash Flow (FCF)—CHF 7MCHF 80MCHF 137MCHF 84M(CHF 24M)CHF 149MCHF 139MCHF 86M
FCF Margin %—0.8%10.8%17.2%11.2%-3.3%24.6%21.9%15.1%

CHF; CHFM / CHFB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ONON Balance Sheet History

Balance sheet2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-31
Total AssetsCHF 3.2BCHF 2.8BCHF 2.4BCHF 1.6BCHF 1.4BCHF 1.2BCHF 383MCHF 144M
Cash & Cash EquivalentsCHF 1.2BCHF 1.0BCHF 924MCHF 495MCHF 371MCHF 653MCHF 91MCHF 12M
Total LiabilitiesCHF 1.3BCHF 1.2BCHF 985MCHF 518MCHF 413MCHF 388MCHF 137MCHF 79M
Total Debt (Short + Long-Term)—CHF 138MCHF 59MCHF 39MCHF 22MCHF 14MCHF 5MCHF 17M
Total Shareholders' EquityCHF 1.9BCHF 1.6BCHF 1.4BCHF 1.1BCHF 970MCHF 848MCHF 245MCHF 64M

CHF; CHFM / CHFB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive ONON viewer.

ONON Metric Deep Dives

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