On Holding Ltd
On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores. The company was founded in 2010 and is headquartered in Zurich, Switzerland.
On Holding Ltd (ONON) - Net Assets
Latest net assets as of September 2025: $1.54 Billion USD
Based on the latest financial reports, On Holding Ltd (ONON) has net assets worth $1.54 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($2.75 Billion) and total liabilities ($1.21 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.54 Billion |
| % of Total Assets | 56.01% |
| Annual Growth Rate | 84.85% |
| 5-Year Change | 467.87% |
| 10-Year Change | N/A |
| Growth Volatility | 120.74 |
On Holding Ltd - Net Assets Trend (2019–2024)
This chart illustrates how On Holding Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for On Holding Ltd (2019–2024)
The table below shows the annual net assets of On Holding Ltd from 2019 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $1.39 Billion | +29.53% |
| 2023-12-31 | $1.07 Billion | +10.83% |
| 2022-12-31 | $969.50 Million | +14.27% |
| 2021-12-31 | $848.40 Million | +246.15% |
| 2020-12-31 | $245.09 Million | +280.50% |
| 2019-12-31 | $64.41 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to On Holding Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 23299100000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $232.80 Million | 16.73% |
| Common Stock | $33.70 Million | 2.42% |
| Other Comprehensive Income | $395.20 Million | 28.39% |
| Other Components | $730.10 Million | 52.46% |
| Total Equity | $1.39 Billion | 100.00% |
On Holding Ltd Competitors by Market Cap
The table below lists competitors of On Holding Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Confluent Inc
NASDAQ:CFLT
|
$9.24 Billion |
|
CNH Industrial N.V.
NYSE:CNH
|
$9.25 Billion |
|
TVS Motor Company Limited
NSE:TVSMOTOR
|
$9.25 Billion |
|
ZOZO Inc
PINK:SATLF
|
$9.26 Billion |
|
Central Japan Railway Co
PINK:CJPRY
|
$9.22 Billion |
|
Wise plc
PINK:WPLCF
|
$9.20 Billion |
|
KGHM Polska Miedz SA
WAR:KGH
|
$9.20 Billion |
|
Norwegian Cruise Line Holdings Ltd
NYSE:NCLH
|
$9.19 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in On Holding Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 1,074,500,000 to 1,391,800,000, a change of 317,300,000 (29.5%).
- Net income of 242,300,000 contributed positively to equity growth.
- New share issuances of 200,000 increased equity.
- Other comprehensive income increased equity by 63,399,999.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $242.30 Million | +17.41% |
| Share Issuances | $200.00K | +0.01% |
| Other Comprehensive Income | $63.40 Million | +4.56% |
| Other Changes | $11.40 Million | +0.82% |
| Total Change | $- | 29.53% |
Book Value vs Market Value Analysis
This analysis compares On Holding Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 9.69x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 188.85x to 9.69x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-12-31 | $0.21 | $39.79 | x |
| 2020-12-31 | $0.80 | $39.79 | x |
| 2021-12-31 | $2.72 | $39.79 | x |
| 2022-12-31 | $3.03 | $39.79 | x |
| 2023-12-31 | $3.32 | $39.79 | x |
| 2024-12-31 | $4.11 | $39.79 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently On Holding Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 17.41%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 10.45%
- • Asset Turnover: 0.98x
- • Equity Multiplier: 1.71x
- Recent ROE (17.41%) is above the historical average (-0.47%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | -2.29% | -0.55% | 1.86x | 2.23x | $-7.91 Million |
| 2020 | -11.22% | -6.47% | 1.11x | 1.56x | $-52.01 Million |
| 2021 | -20.06% | -23.49% | 0.59x | 1.46x | $-255.04 Million |
| 2022 | 5.95% | 4.72% | 0.88x | 1.43x | $-39.25 Million |
| 2023 | 7.41% | 4.44% | 1.12x | 1.48x | $-27.85 Million |
| 2024 | 17.41% | 10.45% | 0.98x | 1.71x | $103.12 Million |
Industry Comparison
This section compares On Holding Ltd's net assets metrics with peer companies in the Footwear & Accessories industry.
Industry Context
- Industry: Footwear & Accessories
- Average net assets among peers: $14,906,776,702
- Average return on equity (ROE) among peers: 15.50%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| On Holding Ltd (ONON) | $1.54 Billion | -2.29% | 0.79x | $9.23 Billion |
| Adidas AG (ADDDF) | $7.06 Billion | 28.00% | 1.93x | $29.25 Billion |
| American Rebel Holdings Inc (AREB) | $-5.01 Million | 0.00% | 0.00x | $820.83K |
| American Rebel Holdings Inc. Warrants (AREBW) | $-646.27K | 0.00% | 0.00x | $10.11K |
| ASICS Corporation (ASCCF) | $138.08 Billion | 9.97% | 0.77x | $14.51 Billion |
| Birkenstock Holding plc (BIRK) | $2.40 Billion | 3.13% | 1.01x | $2.66 Billion |
| Boss Holdings Inc (BSHI) | $18.59 Million | 4.22% | 0.25x | $144.31K |
| Eatware Inc (CHSH) | $3.45 Million | 18.93% | 0.33x | $0.97 |
| Crocs Inc (CROX) | $817.93 Million | 66.04% | 4.50x | $3.98 Billion |
| Designer Brands Inc (DBI) | $640.76 Million | 16.80% | 0.57x | $153.96 Million |
| Deckers Outdoor Corporation (DECK) | $57.10 Million | 7.88% | 0.31x | $14.69 Billion |