On Holding Ltd (ONON) — Working Capital to Net Assets Ratio
On Holding Ltd (ONON) has a Working Capital to Net Assets ratio of 77.0% as of March 2026. Working capital of $1.36 Billion (current assets of $2.05 Billion minus current liabilities of $686.54 Million) is measured against net assets of $1.77 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See how many days can On Holding Ltd fund operations to measure how many days the company can operate on defensive assets alone.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
On Holding Ltd Working Capital to Net Assets (2019–2025)
This chart shows how On Holding Ltd's Working Capital to Net Assets ratio has evolved across 7 annual periods from 2019 to 2025. As of March 2026, the ratio stands at 77.0%, reflecting working capital of $1.36 Billion against net assets of $1.77 Billion USD. For the complete balance sheet picture, see how large is On Holding Ltd's balance sheet.
Annual Working Capital to Net Assets for On Holding Ltd (2019–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for On Holding Ltd from 2019 to 2025, covering 7 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. Check On Holding Ltd (ONON) asset resilience to evaluate the company's liquid asset resilience ratio.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 75.8% | $1.24 Billion | $1.63 Billion | $1.96 Billion | $725.22 Million | ▼ -3.1 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 | — |