Intrinsiqq

On Holding AG (ONON) Quality Score

ONON
Quality77

Growth remains strong (avg 100/100), but valuation is pulling the composite down (avg 60/100).

Broad-market heuristics · Not a buy/sell signal

Valuation and growth

Earnings Multiple
80/100
23.6x

20–25x range, moderate premium

Cash Flow Multiple
40/100
42.0x

Above 30x, cash flow yield is thin

Revenue Growth
100/100
27.4%

Above 10% CAGR, strong compounder

Cash Flow Growth
100/100
32.4%

Above 10% CAGR, strong compounder

Business Quality & Capital Allocation

Share Dilution
0/100
13.1%

Heavy dilution above 5%

Margin Trend
100/100
+6.8pp

Expanded 3+pp, strong improvement

Capital Structure
100/100
-CHF 557M

Net cash position, no leverage concern

2022
CHF 404M
CHF 160M
2023
CHF 529M
CHF 229M
2024
CHF 981M
CHF 348M
2025
CHF 1.08B
CHF 522M
Return on Capital
80/100
19.2%

15–20%, well above cost of capital

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On Holding (ONON) quality: score, margins and returns

On Holding (ONON) scores 77/100 on Intrinsiqq's quality score (a solid business), a weighted blend of 8 metrics each scored 0 to 100, on 13.8% operating margins and 19.2% ROIC. Every metric is computed from company filings; this is analysis, not investment advice.

Frequently asked

Is On Holding (ONON) a high-quality business?+

On Holding scores 77 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which rates it a solid business on these measures. Recent figures include a 13.8% operating margin and a 19.2% return on invested capital. Quality and price are separate questions: even a great business can be a poor investment if you overpay, so read this score alongside the valuation. The metric-by-metric breakdown is on this scorecard.

What does On Holding's quality score measure?+

Intrinsiqq's quality score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, change in share count, and balance-sheet strength, each computed from ONON's company filings rather than opinion or sentiment. A higher score means a more durable, capital-efficient business; it is not a buy or sell signal. Open each metric on this page to see exactly where On Holding scores well and where it falls behind.

What is On Holding's return on invested capital (ROIC)?+

On Holding earns about 19.2% on its invested capital, which is strong. ROIC measures how much profit a company generates per dollar put to work; sustained ROIC above its cost of capital is one of the clearest signs of a real competitive moat. Compare it to ONON's margins and growth on this scorecard to judge durability.

How profitable is On Holding?+

On Holding runs an operating margin of about 13.8% and a net margin of about 12.3%. Revenue has grown at roughly 42.8% a year recently. High, stable margins usually point to pricing power and operating discipline. Margins are most telling next to growth and returns on capital, all of which feed this quality score. This is analysis from company filings, not investment advice.

How the market compares: US profitability statistics

Related stocks: Footwear & Accessories

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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.

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