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ISIN: CH1134540470

Ticker: ONON

CH1134540470

ONON

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Discussion sur ONON

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Kai

@Kai_

2J·

On Holding, the Swiss answer to Nike? 👟

On Holding is one of the most exciting sports and lifestyle stocks in Europe.

The company was founded in Zurich in 2010 and has made a name for itself worldwide with innovative running shoes.

Roger Federer is not only an investor, but also a brand ambassador and the namesake of his own collection.

📈 Growth

Turnover in 2024 was around 2.5 billion euros with growth of 30% compared to the previous year.

The USA is currently the most important market, but Europe and Asia are also gaining in importance.

The gross margin is over 49%.

The company is not yet consistently profitable, but is investing heavily in expansion and brand development.

🛍️ Products and strategy

On combines performance shoes such as the Cloudmonster with lifestyle products and textiles. In addition to online sales and its own stores, On also works with major partners such as Foot Locker and Zalando.

💡 Strengths

Strong brand identity, modern designs, growing direct-to-consumer business and focus on innovation and sustainability.

⚠️ Risks

Strong competition from Nike, Adidas and other brands.

Dependence on growth in the USA is also a risk.

📊 My conclusion

Anyone who believes in the next big global sports brand should take a closer look at the company.

For me $ONON (+0,29 %) currently "only" on the watchlist, an exciting stock, but not (yet) a buy.

Source:

https://aktien.guide/aktien/On-CH1134540470

Aktien Stammtisch

@Aktien_Stammtisch

2Sem.·

On Holding Q1'25 Earnings Highlights

$ONON (+0,29 %)

🔹 Revenue: CHF 726.6M (Est. CHF 680.5M) 🟢; +43.0% YoY

🔹 Adj. EPS: CHF 0.21 (Est. CHF 0.15) 🟢

🔹 Gross Margin: 59.9% vs. 59.7% YoY

🔹 Adj. EBITDA: CHF 119.9M; +54.8% YoY

Segment & Regional Performance

🔹 DTC Sales: CHF 276.9M; +45.3% YoY

🔹 Wholesale Sales: CHF 449.7M; +41.5% YoY

🔹 DTC Share: 38.1% of total revenue

🔹 EMEA Revenue: CHF 168.6M; +33.6% YoY

🔹 Americas Revenue: CHF 437.4M; +32.7% YoY

🔹 Asia-Pacific Revenue: CHF 120.6M; +130.1% YoY

🔹 Shoes: CHF 680.9M; +40.5% YoY

🔹 Apparel: CHF 38.1M; +93.1% YoY

🔹 Accessories: CHF 7.6M; +99.2% YoY

Guidance (FY25)

🔹 Revenue Growth: +28% constant currency → at least CHF 2.86B

🔹 Gross Margin: 60.0% – 60.5%

🔹 Adj. EBITDA Margin: 16.5% – 17.5%

PatitosFortune

@dividend_master_pf

4Sem.·

🇨🇭 Swiss Dividend & Defensive Growth Stocks – Ranked

I screened 7 global blue chips with a value/growth balance using my PASS and Buffett-style filters. Here’s the verdict:

🔝 1. Chocoladefabriken Lindt & Sprüngli ($LISP (+1,17 %) )

🟩 Score: 89 – Excellent

📈 WB Score: 7 (Grade B)

📌 Insider-led, durable moat, elite brand.

🚨 BUT: Price per share (CHF 12,210!) makes it impractical for my strategy.

🥈 2. Nestlé ($NESN (+0,5 %) )

🟨 Score: 75 – Strong

📈 WB Score: 4 (Grade D)

⚖️ Balanced income with global stability. Mildly overvalued but still attractive.

🥉 3. Mondelez ($MDLZ (+0,5 %) )

🟨 Score: 70 – Strong

📈 WB Score: 4 (Grade D)

🍫 Snack leader with consistent cash flows. Mildly overvalued, but solid anchor.

⚖️ Honorable Mentions

Roche ($ROG (+2,01 %) ) – ⚖️ Fairly priced, insider-led, great pipeline, but slight value trap warning.
Zurich Insurance ($ZURN (+0,62 %) ) – Stable, shareholder-friendly.
UBS ($UBSG (+0,5 %) ) – Riskier financial play, some trap signals.
On Holding ($ONON (+0,29 %)) – Growth potential, but overvalued; needs close monitoring.

🧠 Strategy Notes

✅ Favoring undervalued or stable-yield stocks with clear rotation plans.

❌ LISP is a dream stock, but high entry price makes it unsuitable for my dividend + compounding approach.

But I’m convinced it would make a fine addition to a portfolio and I will keep an eye on it and have it as one of my white whales!

5 Commentaires

Darth Vader@TheRealDarthVader

4Sem.

$CHDVD

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einfach_aktien_

@einfach_aktien_

1Mo·

ON in the share check

$ONON (+0,29 %)

If you like the content, you are welcome to visit us on Instagram:

@ einfach.aktien

None

+ 6

1 Commentaire

Saende7@saend

1Mo

very cool format 👍

•

Aktien Stammtisch

@Aktien_Stammtisch

2Mo·

On Holding Q4 Earnings Highlights

$ONON (+0,29 %)

🔹 EPS: CHF 0.27 (Est. CHF 0.18) 🟢; UP +50% YoY

🔹 Revenue: CHF 606.6M (Est. CHF 594.5M) 🟢; UP +35.7% YoY

Q4 Key Metrics:

🔹 Gross Profit: CHF 376.8M (Est. CHF 367M) 🟢; UP +39.5% YoY

🔹 Gross Margin: 62.1% (Est. 61.7%) 🟢; UP +171 bps YoY

🔹 EBITDA: CHF 99.4M (Est. CHF 97M) 🟢; UP +38.3% YoY

🔹 EBITDA Margin: 16.4% (Est. 16.3%) 🟢; UP +28 bps YoY

🔹 Net Income: CHF 89.5M (Prior CHF -26.8M) 🟢

🔹 Inventory: CHF 419M (Est. CHF 417M) 🟡; UP +17.6% YoY

Segment Performance:

🔹 Wholesale: CHF 310M (Est. CHF 303M) 🟢; UP +28.8% YoY

🔹 Direct-to-Consumer (DTC): CHF 296M (Est. CHF 291M) 🟢; UP +43.1% YoY

Regional Breakdown:

🔹 EMEA: CHF 147M (Est. CHF 137M) 🟢; UP +31.6% YoY

🔹 Americas: CHF 365M (Est. CHF 396M) 🔴; UP +27.9% YoY

🔹 APAC: CHF 74M (Est. CHF 61M) 🟢; UP +117.9% YoY

FY25 Guidance:

🔹 Revenue Growth: 27%+ (Est. 28.2%) 🔴

🔹 Gross Margin: 60.5% (Est. 60.9%) 🔴; DOWN -13 bps YoY

🔹 EBITDA Margin: 17.3% (Est. 17.3%) 🔴; UP +55 bps YoY

🔹 FY25 Revenue Outlook: CHF 2.94B (Est. CHF 2.96B) 🟡

Strategic & Business Updates:

🔹 DTC Growth: Record 48.8% of Q4 Revenue

🔹 Global Expansion: Nearly 50 Own Stores Opened

🔹 Milestone: CHF 100M+ in Apparel Sales

🔹 New Tech: Launched LightSpray™ Innovation

🔹 Brand Momentum: Strengthened via Roger Federer, Zendaya, & FKA twigs Partnerships

CEO David Allemann’s Commentary:

🔸 "2024 was a defining year, elevating On’s presence globally. Our partnerships and continued innovation have made On a beloved brand. Looking ahead, we are confident in sustaining long-term brand love and growth.”

Aktienfox

@Aktienfox

2Mo·

What are you watching this week?

- Monday: $GTLB (-0,99 %) , $OKTA (-3,12 %) .

- Tuesday: $CRWD (+2,43 %) , $FLTR (+2,16 %) , $ONON (+0,29 %) , $TGT (-0,74 %) , $SE-ED .

- Wednesday: $MDB (+0,13 %) , $MRVL (-5,39 %) , $VEEV (+0,88 %) , $ZS (+3,89 %) .

- Thursday: $AVGO (+0,55 %) , $COST (+3,24 %) , $HCP , $HPE (-1,87 %) , $27C , $JD. (+1,01 %)

3 Commentaires

Homer@Simpson

2Mo

Boring, just $AVGO and $COST 😂

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The W.

@thewolfofallstreetz

3Mo·

Nike is still "King of the Hill" (by far)

Sales of selected competitors of Nike $NKE (-1,42 %) :

Nike(USA): $49.0 billion, -8% in the last quarter compared to the previous year, $NKE (-1,42 %)

Adidas*(Germany): $24.6 billion, +7%, $ADS (-0,09 %)

Lululemon**(USA): $10.2 billion, +9%, $LULU (-0,9 %)

VF Corporation**(USA): $9.9 billion, +2%, $VFC (-2,56 %)

Anta Sports*(China): $9.7 billion, +14%, $2020 (-4,65 %)

Puma*(Germany): $9.3 billion, +0%, $PUM (-0,67 %)

Skechers**(USA): $8.7 billion, +13%, $SKX (-0,18 %)

New Balance*(USA): $7.8 bn, unlisted

Under Armour*(USA): $5.4 billion, -6%, $UAA (+0,17 %)

Deckers Brands**(USA): $4.6 billion, +17%, $DECK (-1,16 %)

ASICS*(Japan): $4.1 billion , +16%, $7936 (-1,37 %)

Li Ning*(China): $3.9 bn, +2%, $2331 (-2,77 %)

On Holding**(Switzerland): $2.5 billion, +32%, $ONON (+0,29 %)

Despite all its problems, Nike is still twice as big as Adidas and somewhat as big as its four main competitors (Adidas, Anta Sports, Puma, New Balance) combined. together.

The Nike share is currently in a 60% drawdown (the worst in 25 years) and is roughly at the level of the COVID-19 low in March 2020.

Attractive risk-reward ratio?

Is Nike a buy, hold or sell for you?

*Main competitor

**Competitor in certain segments

3 Commentaires

Vinc3🚀@BlockBard

3Mo

I'm thinking back and forth. Since my investment horizon is > 10 years, I'm leaning towards an initial entry in the near future and I'm convinced of Nike in the long term.

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The W.

@thewolfofallstreetz

4Mo·