On Holding Ltd (ONON) — Cash Flow-to-Debt Ratio
On Holding Ltd (ONON) has a Cash Flow-to-Debt Ratio of 0.02x as of March 2026, meaning its operating cash flow of $23.62 Million could theoretically repay 0% of its total liabilities ($1.19 Billion) in one year. See how financially flexible is On Holding Ltd to measure the company's free cash flow as a share of total liabilities.
CF-to-Debt Ratio
Operating Cash Flow
Total Liabilities
Data as of
On Holding Ltd Cash Flow-to-Debt Ratio (2019–2025)
Historical debt coverage capacity for On Holding Ltd across 7 annual periods. For the full cash flow conversion analysis, see On Holding Ltd operating cash flow efficiency.
Annual Cash Flow-to-Debt Ratio for On Holding Ltd (2019–2025)
Year-by-year debt coverage analysis for On Holding Ltd. Check On Holding Ltd earnings quality ratio to evaluate the quality of earnings relative to operating cash generation.
| Year | CF-to-Debt Ratio | Operating CF (USD) | Total Liabilities | YoY Change |
|---|---|---|---|---|
| 2025 | 0.27x | $322.80 Million | $1.20 Billion | ▼ -48.3% |
| 2024 | 0.52x | $510.60 Million | $984.90 Million | ▲ +15.8% |
| 2023 | 0.45x | $232.10 Million | $518.50 Million | ▲ +181.4% |
| 2022 | -0.55x | $-227.00 Million | $412.90 Million | ▼ -1362.5% |
| 2021 | 0.04x | $16.90 Million | $388.10 Million | ▲ +140.7% |
| 2020 | -0.11x | $-14.70 Million | $137.48 Million | ▼ -62.3% |
| 2019 | -0.07x | $-5.22 Million | $79.21 Million | — |