On Holding Ltd (ONON) — Working Capital to Net Assets Ratio
On Holding Ltd (ONON) has a Working Capital to Net Assets ratio of 75.5% as of September 2025. Working capital of $1.16 Billion (current assets of $1.91 Billion minus current liabilities of $748.60 Million) is measured against net assets of $1.54 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See how leveraged is On Holding Ltd's balance sheet to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
On Holding Ltd Working Capital to Net Assets (2019–2024)
This chart shows how On Holding Ltd's Working Capital to Net Assets ratio has evolved across 6 annual periods from 2019 to 2024. As of September 2025, the ratio stands at 75.5%, reflecting working capital of $1.16 Billion against net assets of $1.54 Billion USD. Check On Holding Ltd tangible equity quality to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for On Holding Ltd (2019–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for On Holding Ltd from 2019 to 2024, covering 6 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see ONON market cap.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | 79.0% | $1.10 Billion | $1.39 Billion | $1.76 Billion | $660.40 Million | ▲ +0.3 pp |
| 2023 | 78.7% | $845.70 Million | $1.07 Billion | $1.15 Billion | $305.60 Million | ▼ -4.7 pp |
| 2022 | 83.4% | $808.80 Million | $969.50 Million | $1.05 Billion | $242.70 Million | ▼ -6.1 pp |
| 2021 | 89.5% | $759.60 Million | $848.40 Million | $964.60 Million | $205.00 Million | ▲ +9.6 pp |
| 2020 | 79.9% | $195.90 Million | $245.09 Million | $282.26 Million | $86.36 Million | ▼ -5.2 pp |
| 2019 | 85.2% | $54.85 Million | $64.41 Million | $120.16 Million | $65.30 Million | — |