On Holding Ltd Net Assets
On Holding Ltd net assets. Based on the latest financial reports, On Holding Ltd (ONON) has net assets worth $1.77 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($2.95 Billion) and total liabilities ($1.19 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. Also explore ONON net asset momentum to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.77 Billion |
| % of Total Assets | 59.78% |
| Annual Growth Rate | 71.4% |
| 5-Year Change | 92.63% |
| 10-Year Change | N/A |
| Growth Volatility | 116.21 |
Net Assets of On Holding Ltd (2019–2025)
Net assets of On Holding Ltd from 2019 to 2025. This chart illustrates how On Holding Ltd's net assets have evolved over time, based on quarterly financial data. See ONON net asset quality score to measure how much of total assets are equity-financed.
Annual Net Assets for On Holding Ltd (2019–2025)
The table below shows the annual net assets of On Holding Ltd from 2019 to 2025. For live market cap and overall valuation, see market cap of On Holding Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.63 Billion | +17.42% |
| 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 38322563500.0% over the analyzed period, indicating profitable operations and earnings retention.
On Holding Ltd Net Assets Breakdown (December 2025)
On Holding Ltd net assets breakdown by equity component as of December 2025.
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $383.03 Million | 23.44% |
| Common Stock | $34.14 Million | 2.09% |
| Other Comprehensive Income | $1.29 Billion | 78.96% |
| Total Equity | $1.63 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 |
|---|---|
|
Grupo Aeroportuario del Pacifico SAB De CV ADR
NYSE:PAC
|
$11.25 Billion |
|
Regal Beloit Corporation
NYSE:RRX
|
$11.25 Billion |
|
Shanghai Electric Group Co Ltd
SHG:601727
|
$11.26 Billion |
|
Carrefour SA
PA:CA
|
$11.29 Billion |
|
DIETEREN GR. UNSP.ADR 1/2
F:DJD
|
$11.24 Billion |
|
Sichuan Road & Bridge Group Co Ltd
SHG:600039
|
$11.24 Billion |
|
SK Telecom Co Ltd
KO:017670
|
$11.22 Billion |
|
BUDWEISER BREW.UNSP.ADR/4
F:4BB1
|
$11.20 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 2024 to 2025, total equity changed from 1,391,800,000 to 1,634,254,414, a change of 242,454,414 (17.4%).
- Net income of 194,542,241 contributed positively to equity growth.
- New share issuances of 4,300,000 increased equity.
- Other comprehensive income increased equity by 895,264,311.
- Other factors decreased equity by 851,652,138.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $194.54 Million | +11.9% |
| Share Issuances | $4.30 Million | +0.26% |
| Other Comprehensive Income | $895.26 Million | +54.78% |
| Other Changes | $-851.65 Million | -52.11% |
| Total Change | $- | 17.42% |
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: 7.63x
- 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 177.32x to 7.63x 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 | $37.36 | x |
| 2020-12-31 | $0.80 | $37.36 | x |
| 2021-12-31 | $2.72 | $37.36 | x |
| 2022-12-31 | $3.03 | $37.36 | x |
| 2023-12-31 | $3.32 | $37.36 | x |
| 2024-12-31 | $4.11 | $37.36 | x |
| 2025-12-31 | $4.90 | $37.36 | 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): 11.90%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.76%
- • Asset Turnover: 1.01x
- • Equity Multiplier: 1.74x
- Recent ROE (11.90%) is above the historical average (1.30%), 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 |
| 2025 | 11.90% | 6.76% | 1.01x | 1.74x | $31.12 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: $1,977,582,666
- Average return on equity (ROE) among peers: -2.58%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| On Holding Ltd (ONON) | $1.77 Billion | -2.29% | 0.67x | $11.24 Billion |
| American Rebel Holdings Inc (AREB) | $-646.27K | 0.00% | 0.00x | $3.79 Million |
| Birkenstock Holding plc (BIRK) | $2.63 Billion | 7.30% | 0.86x | $6.86 Billion |
| Crocs Inc (CROX) | $389.00K | -114.40% | 0.17x | $4.82 Billion |
| Designer Brands Inc (DBI) | $786.59 Million | 22.22% | 0.54x | $276.78 Million |
| Deckers Outdoor Corporation (DECK) | $2.50 Billion | 40.97% | 0.48x | $11.81 Billion |
| Kandal M Venture Limited Class A Ordinary Shares (FMFC) | $8.05 Million | 2.93% | 0.39x | $3.66 Million |
| Forward Industries Inc (FORD) | $3.50 Million | -31.43% | 1.31x | $788.51 Million |
| Fossil Group Inc (FOSL) | $1.05 Billion | 24.27% | 0.40x | $329.79 Million |
| Nike Inc (NKE) | $10.82 Billion | 24.88% | 0.72x | $46.29 Billion |
About On Holding Ltd
On Holding AG, together with its subsidiaries, develops and distributes performance sports products under the On brand in Switzerland, the rest of Europe, the Middle East, Africa, the United States, the rest of the Americas, and the Asia-Pacific. The company offers athletic footwear, apparel, and accessories for performance running, performance outdoor, performance all day, performance training, … Read more