On Holding Ltd (ONON) — Free Cash Flow Generation Index
Latest as of March 2026:
0.28x
On Holding Ltd (ONON) has a Free Cash Flow Generation Index of 0.28x as of March 2026. Free cash flow of $6.54 Million represents 0% of operating cash flow ($23.62 Million). Explore ONON capital reinvestment ratio to see what proportion of operating cash flow is directed to capital expenditures.
FCF Generation Index
0.28x
Free Cash Flow / Operating CF
Free Cash Flow
$6.54 Million
USD
Operating Cash Flow
$23.62 Million
USD
Capital Expenditures
$17.07 Million
USD
On Holding Ltd Free Cash Flow Generation Index (2021–2025)
Historical FCF Generation Index trend for On Holding Ltd across 4 annual periods. For the full cash flow conversion analysis, see ONON operating cash flow.
Annual Free Cash Flow Generation for On Holding Ltd (2021–2025)
Year-by-year Free Cash Flow Generation Index for On Holding Ltd. Check ONON total capital reinvestment ratio to assess the company's total reinvestment commitment from operating cash flow.
| Year | FCG Index | Free Cash Flow (USD) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.78x | $253.18 Million | $322.80 Million | $69.62 Million | ▼ -10.1% |
| 2024 | 0.87x | $445.60 Million | $510.60 Million | $65.00 Million | ▲ +9.5% |
| 2023 | 0.80x | $184.90 Million | $232.10 Million | $47.20 Million | ▲ +169.8% |
| 2021 | -1.14x | $-19.30 Million | $16.90 Million | $36.20 Million | — |
FCG Index = Free Cash Flow / Operating Cash Flow. FCF = Operating CF + Capital Expenditures (capex stored negative).