Cash flow On Holding AG

Equities

ONON

CH1134540470

Footwear

Real-time Estimate Cboe BZX Other stock markets 18:08:10 23/01/2026 GMT			5-day change	1st Jan Change
45.84 ^USD	-1.67%		+1.51%	-1.61%

01-21	Apparel, Footwear Stocks Rise After Trump Calls Off European Tariffs	DJ
01-20	Goldman Sachs Upgrades On Holding to Buy From Neutral, Raises Price Target to $58.50 From $52	MT

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Published financial data: ON HOLDING AG

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	425M	725M	1.22B	1.79B	2.32B
Total Revenues	425M	725M	1.22B	1.79B	2.32B
Cost of Goods Sold, Total	194M	294M	537M	725M	913M
Gross Profit	231M	430M	685M	1.07B	1.41B
Selling General & Admin Expenses, Total	248M	571M	600M	888M	1.19B
Other Operating Expenses	-1K	-	-	-	-
Other Operating Expenses, Total	248M	571M	600M	888M	1.19B
Operating Income	-17.1M	-141M	85M	180M	211M
Interest Expense, Total	-281K	-2.43M	-4.2M	-6.5M	-15.3M
Interest And Investment Income	-	-	5.7M	11.5M	23.5M
Net Interest Expenses	-281K	-2.43M	1.5M	5M	8.2M
Currency Exchange Gains (Loss)	-6.43M	-14.95M	-6.5M	-111M	67.7M
Other Non Operating Income (Expenses)	-626K	-1.11M	-2.1M	-4.3M	-7.2M
EBT, Excl. Unusual Items	-24.44M	-160M	77.9M	69.1M	280M
EBT, Incl. Unusual Items	-24.44M	-160M	77.9M	69.1M	280M
Income Tax Expense	3.08M	10.64M	20.2M	-10.5M	37.4M
Earnings From Continuing Operations	-27.52M	-170M	57.7M	79.6M	242M
Net Income to Company	-27.52M	-170M	57.7M	79.6M	242M
Net Income - (IS)	-27.52M	-170M	57.7M	79.6M	242M
Preferred Dividend and Other Adjustments	-	-1K	-	-	-
Net Income to Common Incl Extra Items	-27.52M	-170M	57.7M	79.6M	242M
Net Income to Common Excl. Extra Items	-27.52M	-170M	57.7M	79.6M	242M
Per Share Items
Net EPS - Basic	-0.1	-0.59	0.18	0.25	0.75
Basic EPS - Continuing Operations	-0.1	-0.59	0.18	0.25	0.75
Basic Weighted Average Shares Outstanding	266M	288M	317M	319M	323M
Net EPS - Diluted	-0.1	-0.59	0.18	0.25	0.74
Diluted EPS - Continuing Operations	-0.1	-0.59	0.18	0.25	0.74
Diluted Weighted Average Shares Outstanding	266M	288M	320M	323M	328M
Normalized Basic EPS	-0.06	-0.35	0.15	0.14	0.54
Normalized Diluted EPS	-0.06	-0.35	0.15	0.13	0.53
Supplemental Items
EBITDA	-10.12M	-130M	103M	206M	249M
EBITA	-14.43M	-137M	89.1M	184M	216M
EBIT	-17.1M	-141M	85M	180M	211M
Effective Tax Rate - (Ratio)	-12.61	-6.67	25.93	-15.2	13.37
Total Current Taxes	4.11M	7.05M	38.7M	35.7M	74M
Total Deferred Taxes	-1.02M	3.59M	-18.6M	-46.2M	-36.6M
Normalized Net Income	-15.28M	-99.74M	48.69M	43.19M	175M
Interest on Long-Term Debt	281K	2.43M	4.2M	6.5M	15.3M
Non-Cash Pension Expense	6K	9K	-300K	0	0
Supplemental Operating Expense Items
Marketing Expenses	45.63M	101M	130M	196M	277M
Selling and Marketing Expenses	132M	250M	367M	569M	733M
General and Administrative Expenses	61.1M	123M	199M	287M	390M
Research And Development Expense From Footnotes	-	-	-	-	9.6M
Stock-Based Comp., SG&A Exp. (Total)	54.76M	198M	33.8M	31.8M	71.5M
Stock-Based Comp., Other (Total)	-	-	4.5M	-	-
Total Stock-Based Compensation	54.76M	198M	38.3M	31.8M	71.5M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	90.64M	653M	371M	495M	924M
Short Term Investments	17.14M	23.64M	26.3M	17.8M	43.7M
Total Cash And Short Term Investments	108M	677M	397M	512M	968M
Accounts Receivable, Total	51.63M	99.26M	175M	205M	246M
Other Receivables	17.66M	26.93M	49M	27M	45.4M
Total Receivables	69.29M	126M	224M	232M	292M
Inventory	103M	134M	396M	356M	419M
Prepaid Expenses	-	16.49M	21M	20.8M	42M
Other Current Assets, Total	2.32M	11.02M	14M	29.8M	39M
Total Current Assets	282M	965M	1.05B	1.15B	1.76B
Gross Property Plant And Equipment	55.35M	248M	290M	418M	657M
Accumulated Depreciation	-15.63M	-35.71M	-61.7M	-110M	-206M
Net Property Plant And Equipment	39.72M	212M	229M	308M	451M
Goodwill	1.79M	1.79M	1.8M	1.8M	1.8M
Other Intangibles, Total	52.88M	55.67M	68.5M	62.8M	56.5M
Deferred Tax Assets Long-Term	5.92M	2.17M	31.7M	69.5M	108M
Other Long-Term Assets, Total	-	-1K	100K	-	100K
Total Assets	383M	1.24B	1.38B	1.59B	2.38B
Liabilities
Accounts Payable, Total	41.54M	45.94M	111M	65.1M	166M
Accrued Expenses, Total	30.78M	130M	70M	139M	282M
Short-term Borrowings	246K	-	-	-	-
Current Portion of Leases	4.31M	13.63M	21.6M	38.7M	59.1M
Current Income Taxes Payable	1.05M	2.4M	13.9M	23.5M	62.5M
Other Current Liabilities	8.44M	13.28M	26.2M	39.4M	89.9M
Total Current Liabilities	86.36M	205M	243M	306M	660M
Long-Term Debt	-	-	-	-	-
Long-Term Leases	19.17M	167M	139M	190M	288M
Pension & Other Post Retirement Benefits	5.63M	5.85M	6.3M	2.2M	8.6M
Deferred Tax Liability Non Current	5.66M	5.61M	17.9M	10.5M	10.8M
Other Non Current Liabilities	20.64M	4.44M	7.2M	9.9M	16.6M
Total Liabilities	137M	388M	413M	518M	985M
Common Stock, Total	2.17M	33.45M	33.5M	33.5M	33.7M
Additional Paid In Capital	175M	757M	757M	757M	757M
Retained Earnings	-27.72M	-190M	-109M	-21M	233M
Treasury Stock	-	-25.04M	-26.1M	-26.7M	-26.8M
Comprehensive Income and Other	95.41M	273M	314M	332M	395M
Total Common Equity	245M	848M	970M	1.07B	1.39B
Total Equity	245M	848M	970M	1.07B	1.39B
Total Liabilities And Equity	383M	1.24B	1.38B	1.59B	2.38B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	271M	313M	317M	319M	324M
ECS Total Common Shares Outstanding	271M	311M	317M	319M	324M
Book Value / Share	0.9	2.72	3.06	3.37	4.3
Tangible Book Value	190M	791M	899M	1.01B	1.33B
Tangible Book Value Per Share	0.7	2.54	2.84	3.17	4.12
Total Debt	23.73M	181M	160M	229M	348M
Net Debt	-84.05M	-496M	-237M	-283M	-620M
Debt Equivalent of Unfunded Proj. Benefit Obligation	5.63M	5.85M	6.3M	2.2M	8.6M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Finished Goods, Total	103M	135M	396M	364M	450M
Inventories - Others	-	-	200K	-	-
Machinery, Total	14.35M	19.22M	23.6M	55.2M	78.8M
Full Time Employees	744	1.16K	1.7K	2.35K	3.25K
Accumulated Allowance for Doubtful Accounts (Supple)	1.81M	2.55M	9.1M	700K	10.7M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	-27.52M	-170M	57.7M	79.6M	242M
Depreciation & Amortization - CF	8.44M	22.61M	37.1M	54.9M	93.9M
Amortization of Goodwill and Intangible Assets - (CF)	2.67M	3.88M	4.1M	4.5M	4.7M
Depreciation & Amortization, Total	11.11M	26.48M	41.2M	59.4M	98.6M
Amortization of Deferred Charges, Total - (CF)	982K	4.93M	5.2M	5.5M	6M
(Gain) Loss From Sale Of Asset	-	-	900K	600K	700K
Stock-Based Compensation (CF)	48.63M	192M	38.3M	27.3M	57.5M
Other Operating Activities, Total	7.81M	29.67M	-16.9M	67.5M	-36.3M
Change In Accounts Receivable	-13.48M	-46.99M	-78.6M	-46.9M	-30.1M
Change In Inventories	-61.3M	-31.77M	-273M	-10M	-27.8M
Change In Accounts Payable	25.56M	4.33M	65.8M	-44.3M	104M
Change in Other Net Operating Assets	-6.51M	8.1M	-67.6M	93.4M	95.7M
Cash from Operations	-14.73M	16.95M	-227M	232M	511M
Capital Expenditure	-10.99M	-24.64M	-60.3M	-42.8M	-60.5M
Sale of Property, Plant, and Equipment	-	-	-	-	100K
Cash Acquisitions	-26K	-200K	-	-	-
Sale (Purchase) of Intangible assets	-7.61M	-11.6M	-22.7M	-4.4M	-4.5M
Other Investing Activities, Total	-	-	100K	100K	-
Cash from Investing	-18.62M	-36.44M	-82.9M	-47.1M	-64.9M
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Long-Term Debt Repaid, Total	-6.4M	-13.31M	-15.4M	-25.5M	-51.3M
Total Debt Repaid	-6.4M	-13.31M	-15.4M	-25.5M	-51.3M
Issuance of Common Stock	133M	619M	26.4M	10.1M	11.1M
Other Financing Activities, Total	-2.07M	-9.6M	-4.7M	-6.4M	-15.2M
Cash from Financing	125M	596M	6.3M	-21.8M	-55.4M
Foreign Exchange Rate Adjustments	-969K	-13.87M	21.5M	-39.6M	39.4M
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	90.48M	562M	-282M	124M	430M
Supplemental Items
Cash Interest Paid	595K	2.76M	4.7M	6.5M	15.3M
Cash Income Tax Paid (Refund)	5.17M	4.41M	31M	28.6M	41.2M
Levered Free Cash Flow	-1.41M	107M	-284M	219M	415M
Unlevered Free Cash Flow	-1.24M	109M	-282M	223M	425M
Change In Net Working Capital	38.81M	-3.45M	337M	-61.1M	-182M
Net Debt Issued / Repaid	-6.4M	-13.31M	-15.4M	-25.5M	-51.3M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	-4.06	-10.89	4.06	7.55	6.64
Return on Total Capital	-6.05	-13.59	4.92	9.24	8.67
Return On Equity %	-17.79	-31.14	6.35	7.79	19.65
Return on Common Equity	-17.79	-31.14	6.35	7.79	19.65
Margin Analysis
Gross Profit Margin %	54.34	59.38	56.04	59.56	60.63
SG&A Margin	58.36	78.86	49.09	49.52	51.53
EBITDA Margin %	-2.38	-17.96	8.44	11.51	10.73
EBITA Margin %	-3.39	-18.94	7.29	10.28	9.3
EBIT Margin %	-4.02	-19.47	6.96	10.03	9.1
Income From Continuing Operations Margin %	-6.47	-23.49	4.72	4.44	10.45
Net Income Margin %	-6.47	-23.49	4.72	4.44	10.45
Net Avail. For Common Margin %	-6.47	-23.49	4.72	4.44	10.45
Normalized Net Income Margin	-3.59	-13.77	3.98	2.41	7.54
Levered Free Cash Flow Margin	-0.33	14.82	-23.28	12.22	17.9
Unlevered Free Cash Flow Margin	-0.29	15.03	-23.06	12.44	18.31
Asset Turnover
Asset Turnover	1.62	0.9	0.93	1.2	1.17
Fixed Assets Turnover	15.34	5.75	5.54	6.68	6.11
Receivables Turnover (Average Receivables)	9.14	9.6	8.92	9.45	10.28
Inventory Turnover (Average Inventory)	2.63	2.48	2.03	1.93	2.35
Short Term Liquidity
Current Ratio	3.27	4.71	4.33	3.77	2.66
Quick Ratio	2.05	3.92	2.56	2.44	1.91
Operating Cash Flow to Current Liabilities	-0.17	0.08	-0.94	0.76	0.77
Days Sales Outstanding (Average Receivables)	40.04	38.01	40.9	38.64	35.59
Days Outstanding Inventory (Average Inventory)	138.92	147	179.99	189.37	155.55
Average Days Payable Outstanding	42	49.03	35.86	46.87	43.46
Cash Conversion Cycle (Average Days)	136.96	135.97	185.03	181.14	147.68
Long Term Solvency
Total Debt/Equity	9.68	21.32	16.54	21.31	24.97
Total Debt / Total Capital	8.83	17.57	14.2	17.57	19.98
LT Debt/Equity	7.82	19.71	14.32	17.71	20.73
Long-Term Debt / Total Capital	7.13	16.25	12.28	14.6	16.59
Total Liabilities / Total Assets	35.93	31.39	29.87	32.55	41.44
EBIT / Interest Expense	-60.85	-58.11	20.24	27.66	13.79
EBITDA / Interest Expense	-21.32	-47.21	30.05	36.8	20.24
(EBITDA - Capex) / Interest Expense	-60.42	-57.35	15.69	30.22	16.28
Total Debt / EBITDA	-3.96	-1.58	1.27	0.96	1.12
Net Debt / EBITDA	14.03	4.33	-1.88	-1.18	-2
Total Debt / (EBITDA - Capex)	-1.4	-1.3	2.43	1.17	1.4
Net Debt / (EBITDA - Capex)	4.95	3.56	-3.59	-1.44	-2.49
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	59.21	70.37	68.66	46.64	29.36
Gross Profit, 1 Yr. Growth %	61.48	86.19	59.17	55.83	31.71
EBITDA, 1 Yr. Growth %	-217.92	1.19K	-179.32	99.9	20.6
EBITA, 1 Yr. Growth %	-323.26	850.68	-164.94	106.85	17.04
EBIT, 1 Yr. Growth %	-401.16	725.13	-160.24	111.53	17.35
Earnings From Cont. Operations, 1 Yr. Growth %	1.77K	518.47	-133.9	37.95	204.4
Net Income, 1 Yr. Growth %	1.77K	518.47	-133.9	37.95	204.4
Normalized Net Income, 1 Yr. Growth %	-876.64	552.95	-148.81	-11.3	304.78
Diluted EPS Before Extra, 1 Yr. Growth %	1.54K	469.95	-130.56	36.47	199.92
Accounts Receivable, 1 Yr. Growth %	24.65	92.26	75.83	17.3	20.17
Inventory, 1 Yr. Growth %	130.98	30.42	194.78	-9.88	17.59
Net Property, Plant and Equip., 1 Yr. Growth %	152.84	434.42	7.77	34.44	46.55
Total Assets, 1 Yr. Growth %	166.36	223.22	11.8	15.23	49.2
Tangible Book Value, 1 Yr. Growth %	225.5	315.34	13.69	12.31	32.04
Common Equity, 1 Yr. Growth %	280.5	246.15	14.27	10.83	29.53
Cash From Operations, 1 Yr. Growth %	182.25	-215.06	-1.44K	-202.25	119.99
Capital Expenditures, 1 Yr. Growth %	47.82	124.28	145.12	-29.02	41.36
Levered Free Cash Flow, 1 Yr. Growth %	-	-1.34K	-364.5	-176.95	89.58
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-1.38K	-358.46	-179.1	90.41
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	64.7	69.51	57.26	37.73
Gross Profit, 2 Yr. CAGR %	-	73.39	72.15	57.49	43.26
EBITDA, 2 Yr. CAGR %	-	243.67	354.31	25.92	55.27
EBITA, 2 Yr. CAGR %	-	391.6	128.27	15.9	55.59
EBIT, 2 Yr. CAGR %	-	398.5	122.95	12.88	57.55
Earnings From Cont. Operations, 2 Yr. CAGR %	-	975.01	44.85	-31.61	104.92
Net Income, 2 Yr. CAGR %	-	975.01	44.85	-31.61	104.92
Normalized Net Income, 2 Yr. CAGR %	-	612.12	78.68	-34.2	89.49
Diluted EPS Before Extra, 2 Yr. CAGR %	-	868.4	32.03	-35.42	102.32
Accounts Receivable, 2 Yr. CAGR %	-	54.81	83.89	43.61	18.72
Inventory, 2 Yr. CAGR %	-	73.57	96.1	62.99	2.94
Net Property, Plant and Equip., 2 Yr. CAGR %	-	267.59	140	20.37	40.37
Total Assets, 2 Yr. CAGR %	-	193.41	90.09	13.5	31.12
Tangible Book Value, 2 Yr. CAGR %	-	267.68	117.3	13	21.78
Common Equity, 2 Yr. CAGR %	-	262.91	98.89	12.54	19.82
Cash From Operations, 2 Yr. CAGR %	-	80.21	292.97	270.59	49.98
Capital Expenditures, 2 Yr. CAGR %	-	82.08	134.13	31.9	0.17
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	473.43	42.66	20.78
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	477.07	42.99	22.73
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	66.01	61.52	47.35
Gross Profit, 3 Yr. CAGR %	-	-	68.52	66.53	48.38
EBITDA, 3 Yr. CAGR %	-	-	110.78	245.55	24.12
EBITA, 3 Yr. CAGR %	-	-	150.36	120.89	16.28
EBIT, 3 Yr. CAGR %	-	-	146.46	119.08	14.35
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	239.62	42.51	12.49
Net Income, 3 Yr. CAGR %	-	-	239.62	42.51	12.49
Normalized Net Income, 3 Yr. CAGR %	-	-	191.44	41.48	20.56
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	206.02	33.5	7.75
Accounts Receivable, 3 Yr. CAGR %	-	-	61.54	58.3	35.33
Inventory, 3 Yr. CAGR %	-	-	107.09	51.33	46.18
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	144.2	97.84	28.53
Total Assets, 3 Yr. CAGR %	-	-	112.72	60.88	24.34
Tangible Book Value, 3 Yr. CAGR %	-	-	148.63	74.39	19.02
Common Equity, 3 Yr. CAGR %	-	-	146.9	63.67	17.94
Cash From Operations, 3 Yr. CAGR %	-	-	251.7	150.87	211.46
Capital Expenditures, 3 Yr. CAGR %	-	-	100.94	57.28	34.98
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	193.57	56.84
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	197.54	57.31
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	-	54.06
Gross Profit, 5 Yr. CAGR %	-	-	-	-	57.92
EBITDA, 5 Yr. CAGR %	-	-	-	-	86.52
EBITA, 5 Yr. CAGR %	-	-	-	-	106.98
EBIT, 5 Yr. CAGR %	-	-	-	-	106.07
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	-	177.48
Net Income, 5 Yr. CAGR %	-	-	-	-	177.48
Normalized Net Income, 5 Yr. CAGR %	-	-	-	-	145.33
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-	159.34
Accounts Receivable, 5 Yr. CAGR %	-	-	-	-	42.82
Inventory, 5 Yr. CAGR %	-	-	-	-	56.58
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	-	95.68
Total Assets, 5 Yr. CAGR %	-	-	-	-	75.29
Tangible Book Value, 5 Yr. CAGR %	-	-	-	-	86.88
Common Equity, 5 Yr. CAGR %	-	-	-	-	84.89
Cash From Operations, 5 Yr. CAGR %	-	-	-	-	150.1
Capital Expenditures, 5 Yr. CAGR %	-	-	-	-	52.1