On Holding AG
NYSE:ONON

Watchlist Manager
On Holding AG Logo
On Holding AG
NYSE:ONON
Watchlist
Price: 59.39 USD 0.93% Market Closed
Market Cap: 19.2B USD
Section:
Relative Value
Relative Value
Valuation Multiples
Multiples Across Competitors
See Also

Relative Value

The Relative Value of one ONON stock under the Base Case scenario is 34.77 USD. Compared to the current market price of 59.39 USD, On Holding AG is Overvalued by 41%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

ONON Relative Value
Base Case
34.77 USD
Overvaluation 41%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

6.2
P/S
P/S
Price to Sales
6.2
vs History
23
vs Industry
7
Median 3Y
5.5
Median 5Y
5.4
Industry
0.9
Forward
5.2
More Details
76.1
P/E
P/E
Price to Earnings
76.1
vs History
45
vs Industry
9
Median 3Y
82.8
Median 5Y
73.1
Industry
17.4
Forward
48.7
More Details
37.8
P/OCF
P/OCF
Price to OCF
37.8
vs History
10
vs Industry
13
Median 3Y
27.4
Median 5Y
-29.6
Industry
10
More Details
56.2
P/FCFE
P/FCFE
Price to FCFE
56.2
vs History
2
vs Industry
14
Median 3Y
-20.1
Median 5Y
-30.2
Industry
16.5
More Details
11.4
P/B
P/B
Price to Book Value
11.4
vs History
13
vs Industry
5
Median 3Y
8.6
Median 5Y
8.7
Industry
1.3
More Details
6
EV/S
EV/S
Enterprise Value to Sales
6
vs History
23
vs Industry
9
Median 3Y
5.3
Median 5Y
5.2
Industry
1.1
Forward
5
More Details
9.8
EV/GP
EV/GP
Enterprise Value to Gross Profit
9.8
vs History
26
vs Industry
22
Median 3Y
9.3
Median 5Y
8.9
Industry
3.8
More Details
41.9
EV/EBITDA
EV/EBITDA
Enterprise Value to EBITDA
41.9
vs History
34
vs Industry
8
Median 3Y
39.3
Median 5Y
36.6
Industry
9.5
Forward
29.4
More Details
60.4
EV/EBIT
EV/EBIT
Enterprise Value to EBIT
60.4
vs History
32
vs Industry
5
Median 3Y
55.9
Median 5Y
51.6
Industry
12.8
Forward
43.1
More Details
36.2
EV/OCF
EV/OCF
Enterprise Value to OCF
36.2
vs History
10
vs Industry
14
Median 3Y
26.4
Median 5Y
-28.4
Industry
11
More Details
43.2
EV/FCFF
EV/FCFF
Enterprise Value to FCFF
43.2
vs History
4
vs Industry
16
Median 3Y
-20.4
Median 5Y
-30.8
Industry
13.9
More Details
12.3
EV/IC
EV/IC
Enterprise Value to IC
12.3
vs History
17
vs Industry
3
Median 3Y
8.6
Median 5Y
8.8
Industry
1
More Details

Multiples Across Competitors

ONON Competitors Multiples
On Holding AG Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
Market Cap P/S P/E EV/EBITDA EV/EBIT
CH
On Holding AG
NYSE:ONON
19.2B USD 6.2 76.1 41.9 60.4
US
Nike Inc
NYSE:NKE
89.5B USD 1.9 19.9 15.2 17.7
JP
Asics Corp
TSE:7936
2.5T JPY 3.5 36.1 17.8 22
US
Deckers Outdoor Corp
NYSE:DECK
15.8B USD 3.2 16.4 11.1 11.8
UK
Birkenstock Holding PLC
NYSE:BIRK
10.1B USD 4.8 40.6 17.1 21.1
US
Skechers USA Inc
NYSE:SKX
9.3B USD 1 14.6 7.7 9.7
CN
Huali Industrial Group Co Ltd
SZSE:300979
61.8B CNY 2.5 16.2 11.7 11.7
US
Crocs Inc
NASDAQ:CROX
5.7B USD 1.4 6 6.5 6.9
PL
CCC SA
WSE:CCC
16.8B PLN 1.6 17.6 12.2 19.6
TW
Feng Tay Enterprises Co Ltd
TWSE:9910
120B TWD 1.4 20.9 11.5 16.5
DE
Puma SE
XETRA:PUM
3.4B EUR 0.4 17.4 4.9 8.3
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
CH
On Holding AG
NYSE:ONON
Average EV/EBITDA: 14.3
41.9
39%
1.1
US
Nike Inc
NYSE:NKE
15.2
-13%
N/A
JP
Asics Corp
TSE:7936
17.8
15%
1.2
US
Deckers Outdoor Corp
NYSE:DECK
11.1
6%
1.9
UK
Birkenstock Holding PLC
NYSE:BIRK
17.1
20%
0.9
US
Skechers USA Inc
NYSE:SKX
7.7
2%
3.9
CN
Huali Industrial Group Co Ltd
SZSE:300979
11.7
19%
0.6
US
Crocs Inc
NASDAQ:CROX
6.5
-5%
N/A
PL
C
CCC SA
WSE:CCC
12.2
24%
0.5
TW
Feng Tay Enterprises Co Ltd
TWSE:9910
11.5
8%
1.4
DE
Puma SE
XETRA:PUM
4.9
3%
1.6
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
CH
On Holding AG
NYSE:ONON
Average EV/EBIT: 18.7
60.4
43%
1.4
US
Nike Inc
NYSE:NKE
17.7
-13%
N/A
JP
Asics Corp
TSE:7936
22
N/A N/A
US
Deckers Outdoor Corp
NYSE:DECK
11.8
5%
2.4
UK
Birkenstock Holding PLC
NYSE:BIRK
21.1
21%
1
US
Skechers USA Inc
NYSE:SKX
9.7
0%
N/A
CN
Huali Industrial Group Co Ltd
SZSE:300979
11.7
14%
0.8
US
Crocs Inc
NASDAQ:CROX
6.9
-3%
N/A
PL
C
CCC SA
WSE:CCC
19.6
29%
0.7
TW
Feng Tay Enterprises Co Ltd
TWSE:9910
16.5
9%
1.8
DE
Puma SE
XETRA:PUM
8.3
5%
1.7

See Also

Summary
ONON intrinsic value, competitors valuation, and company profile.
DCF Valuation
ONON stock valuation using Discount Cash Flow valuation method.
Relative Valuation
ONON stock valuation using valuation multiples.
Wall Street Estimates
ONON price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
ONON stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
Discover More
Back to Top
ALPHA SPREAD
Follow us
Join more than 258,700+ value investors using Alpha Spread
Create Free Account
or see our plans & pricing

Company

About Us Careers Pricing Affiliate Program Terms of Service Privacy Policy

Help

What is Intrinsic Value? Help Center Contact Us

Tools

Stock Screener Intrinsic Value Calculator DCF Value Calculator Discount Rate Calculator

Stocks

Most Undervalued Stocks Wide Economic Moat Stocks High Profitability Stocks High Solvency Stocks Most Popular Stocks

© 2025 Alpha Spread Limited. All Rights Reserved.

www.alphaspread.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on www.alphaspread.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. In no event shall Alpha Spread Limited be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on www.alphaspread.com, or relating to the use of, or inability to use, www.alphaspread.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance.