ONON On Holding AG Class A Ordinary Shares
About On Holding AG Class A Ordinary Shares Company overview from Wikipedia
On Holding AG is a Swiss athletic shoe and performance sportswear company that designs and markets sports clothing and running shoes.
Read more
On Holding AG is a Swiss athletic shoe and performance sportswear company that designs and markets sports clothing and running shoes.
In 2019, On products were sold in 6,000 retailers in 55 countries and the company held 40% of the running shoe market in Switzerland and 10% in Germany. The United States is its biggest single market, where it accounts for 6.6% of the performance running shoe category. Globally, as of 2024, On is estimated to have 2% of the athletic footwear market. As of 2025, On is on its way to a $20 billion market cap, continually growing year-over-year.
History
On was first incorporated as a sporting goods company in 2010. The company was founded by former Swiss Ironman champion Olivier Bernhard with David Allemann and Caspar Coppetti. In 2012, On released the Cloudracer, a performance shoe favoured by Swiss professional triathlete Nicola Spirig. The company claims a proprietary cushioning technology called CloudTec in its shoes.
CloudTec began with Bernhard experimenting with a garden hose, exploring how that shape could offer a brand new type of cushioning. Bernhard, who was a Nike athlete at the time, presented his prototype to Nike but had it rejected. The "clouds" underneath all On shoes are described by the manufacturer as offering cushioning as the foot lands on the floor, before locking together to create a solid foundation for pushing off on the next step.
Within 2 years after its initial public offering (IPO), On had doubled its revenue to nearly $2 billion.
Cloudboom
The Cloudboom Strike LS is a performance running shoe launched for the 2024 Olympic Games. It uses an upper construction method in which a single, continuous filament of synthetic material is robotically deposited to create a lightweight and form-fitting upper. Weighing only 6 ounces (170 g), the shoe is comparable in weight to the Nike ZoomX Streakfly.
This upper construction reduces the shoe's required components from 150-200 to seven. The shoe is also promoted for its reduced environmental impact through minimized waste and potential for on-demand manufacturing.
Shareholders
Swiss Tennis professional Roger Federer became a shareholder in On AG in November 2019. The company released a limited edition lifestyle shoe named “The Roger” in July 2020. Based on sales growth the company was reported to be exploring IPO options for the latter half of 2021. In September 2021, the company's IPO raised approximately $746 million.
Since 2021, On is a listed stock on the NYSE.
Management
From January 2021 to March 2025, Marc Maurer and Martin Hoffmann jointly served as Co-CEOs until April 2025 when Hoffmann assumed the sole CEO role. Martin Hoffmann held the role of Chief Financial Officer since joining the company in 2013. The company's founders remain actively involved: David Allemann and Caspar Coppetti serve as Executive Co-Chairmen. Olivier Bernhard focuses on product and innovation. In 2024, On reported sales of CHF 2.32 billion, marking a 29.4% increase compared to the previous year. The company's profit rose by 204.5% to CHF 242.3 million during the same period.
Operations
On also founded and sponsors the professional running group, On Athletics Club, coached by Dathan Ritzenhein with a roster that contains multiple Olympic finalists. The company also built bobsleigh shoes that were used in the 2022 Winter Olympics.
Currently, David Kilgore, an American professional runner and record holder, competes and works for On Running.
On March 31, 2022, On launched the Cloudmonster. It deviates from the company's previous designs by having a larger sole. Jacob Gallagher of The Wall Street Journal described it as "a maximalist sneaker" and claimed that this design is primarily associated with Hoka, and called Hoka "one of On's main competitors in the specialized running market".
In March 2023, On announced its sponsorship of number one women's tennis player Iga Świątek and men's tennis players Ben Shelton and João Fonseca. In June 2024 On signed a new partnership with the Italian men's tennis player Flavio Cobolli.
The production of On shoes has been moved from China to Indonesia and Vietnam.
In addition to On Athletics Club, On sponsors a number of other track, road, and trail runners, as well as triathletes and tennis players.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
ONON Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
ONON Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
ONON Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 13 36.1%
- Buy 17 47.2%
- Hold 5 13.9%
- Sell 0 0.0%
- Strong Sell 1 2.8%
12-Month Price Target
27 analysts · 2026-08-13Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.36 | $0.34 | 0.01% |
| March 31, 2026 | $0.41 | $0.27 | 0.14% |
| Dec. 31, 2025 | $0.25 | $0.21 | 0.04% |
| Sept. 30, 2025 | $0.47 | $0.25 | 0.22% |
| June 30, 2025 | $-0.10 | $0.22 | -0.32% |
| March 31, 2025 | $0.23 | $0.22 | 0.01% |
Latest News Recent headlines mentioning this company
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
My Metrics Your personal watchlist — selected rows from Full Fundamentals
Pick the metrics that matter to you — click the ➕ next to any row in Full Fundamentals above.
Your selection is saved and follows you across all tickers.
Institutional owners (13F) 575 filers · $6.5B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 100 (-2 vs prior Q) | 88 (-19 vs prior Q) | 155 (-12 vs prior Q) | 189 (-5 vs prior Q) | +9.9M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BAMCO INC /NY/ | $599,652,453 | 16,929,770 | 9.23% | Shares |
| LONE PINE CAPITAL LLC | $470,378,663 | 13,280,030 | 7.24% | Shares |
| PeakShares LLC | $446,894,000 | 12,617 | 6.88% | Shares |
| PLATINUM PARAMOUNT INVESTMENT LTD. | $400,672,740 | 11,312,048 | 6.17% | Shares |
| FMR LLC | $362,106,382 | 10,223,218 | 5.57% | Shares |
| Sinvest Investments II Ltd. | $297,528,000 | 8,400,000 | 4.58% | Shares |
| SANDS CAPITAL MANAGEMENT, LLC | $265,120,223 | 7,485,043 | 4.08% | Shares |
| MORGAN STANLEY | $254,181,500 | 7,176,214 | 3.91% | Shares |
| CITADEL ADVISORS LLC | $229,977,597 | 6,492,874 | 3.54% | Shares |
| NORGES BANK | $112,754,009 | 3,183,343 | 1.74% | Shares |
| Ilex Capital Partners (UK) LLP | $107,262,421 | 3,028,301 | 1.65% | Shares |
| JANE STREET GROUP, LLC | $105,855,185 | 2,988,571 | 1.63% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $96,213,082 | 2,716,349 | 1.48% | Shares |
| GOLDMAN SACHS GROUP INC | $89,941,262 | 2,539,279 | 1.38% | Shares |
| STATE STREET CORP | $86,626,481 | 2,445,694 | 1.33% | Shares |
| UBS Group AG | $79,646,510 | 2,248,631 | 1.23% | Shares |
| Pertento Partners LLP | $78,930,353 | 2,228,412 | 1.21% | Shares |
| Clearbridge Investments, LLC | $74,259,270 | 2,096,535 | 1.14% | Shares |
| MILLENNIUM MANAGEMENT LLC | $72,512,816 | 2,047,228 | 1.12% | Shares |
| Freestone Grove Partners LP | $71,670,316 | 2,023,442 | 1.10% | Shares |
| JANE STREET GROUP, LLC | $68,247,256 | 1,926,800 | 1.05% | Put option |
| CITADEL ADVISORS LLC | $62,250,650 | 1,757,500 | 0.96% | Put option |
| JENNISON ASSOCIATES LLC | $58,907,089 | 1,663,102 | 0.91% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $57,294,000 | 1,617,574 | 0.88% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $50,764,439 | 1,433,214 | 0.78% | Shares |
| JANE STREET GROUP, LLC | $47,289,242 | 1,335,100 | 0.73% | Call option |
| HSBC HOLDINGS PLC | $46,416,662 | 1,306,040 | 0.71% | Shares |
| ExodusPoint Capital Management, LP | $38,439,449 | 1,085,247 | 0.59% | Shares |
| AMERICAN CENTURY COMPANIES INC | $36,590,135 | 1,033,036 | 0.56% | Shares |
| Impax Asset Management Group plc | $36,584,822 | 1,032,886 | 0.56% | Shares |
| Verition Fund Management LLC | $36,153,513 | 1,020,709 | 0.56% | Shares |
| Walleye Trading LLC | $35,848,582 | 1,012,100 | 0.55% | Call option |
| Walleye Capital LLC | $35,183,040 | 993,310 | 0.54% | Shares |
| Man Group plc | $34,215,685 | 965,999 | 0.53% | Shares |
| D. E. Shaw & Co., Inc. | $32,590,792 | 920,124 | 0.50% | Shares |
| VANGUARD GROUP INC | $32,028,252 | 689,076 | 0.49% | Shares |
| BARCLAYS PLC | $29,575,700 | 835,000 | 0.46% | Call option |
| Balyasny Asset Management L.P. | $29,433,205 | 830,977 | 0.45% | Shares |
| Walleye Trading LLC | $29,359,638 | 828,900 | 0.45% | Put option |
| Pictet Asset Management Holding SA | $28,461,528 | 803,544 | 0.44% | Shares |
| APEIRON CAPITAL Ltd | $28,189,078 | 795,852 | 0.43% | Shares |
| UBS Group AG | $27,812,209 | 785,212 | 0.43% | Call option |
| Woodline Partners LP | $27,518,967 | 776,933 | 0.42% | Shares |
| Gotham Asset Management, LLC | $26,735,016 | 754,800 | 0.41% | Shares |
| BWCP, LP | $25,659,771 | 724,443 | 0.39% | Shares |
| Hook Mill Capital Partners, LP | $23,864,012 | 673,744 | 0.37% | Shares |
| ThornTree Capital Partners LP | $23,687,869 | 668,771 | 0.36% | Shares |
| Squarepoint Ops LLC | $23,152,743 | 653,663 | 0.36% | Shares |
| Point72 Asset Management, L.P. | $22,452,738 | 633,900 | 0.35% | Put option |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $20,769,013 | 586,364 | 0.32% | Shares |
| VILLERE ST DENIS J & CO LLC | $20,658,219 | 583,236 | 0.32% | Shares |
| BARCLAYS PLC | $20,543,600 | 580,000 | 0.32% | Put option |
| JANUS HENDERSON GROUP PLC | $20,092,722 | 590,615 | 0.31% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $20,090,011 | 567,194 | 0.31% | Shares |
| Caption Management, LLC | $19,877,704 | 561,200 | 0.31% | Call option |
| MANE GLOBAL CAPITAL MANAGEMENT LP | $19,255,091 | 543,622 | 0.30% | Shares |
| BANK OF AMERICA CORP /DE/ | $18,348,340 | 518,022 | 0.28% | Shares |
| CITADEL ADVISORS LLC | $18,188,170 | 513,500 | 0.28% | Call option |
| GATES FOUNDATION TRUST | $17,710,000 | 500,000 | 0.27% | Shares |
| BARCLAYS PLC | $17,663,316 | 498,682 | 0.27% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $17,423,027 | 491,898 | 0.27% | Shares |
| Point72 Asset Management, L.P. | $17,277,876 | 487,800 | 0.27% | Call option |
| UBS Group AG | $17,111,402 | 483,100 | 0.26% | Put option |
| Longaeva Partners L.P. | $17,107,860 | 483,000 | 0.26% | Shares |
| Portolan Capital Management, LLC | $15,625,073 | 441,137 | 0.24% | Shares |
| &PARTNERS | $15,534,610 | 438,567 | 0.24% | Shares |
| Hodges Capital Management Inc. | $15,469,154 | 436,735 | 0.24% | Shares |
| WOLVERINE TRADING, LLC | $14,724,702 | 337,800 | 0.23% | Call option |
| MARSHALL WACE, LLP | $14,557,903 | 411,008 | 0.22% | Shares |
| Abu Dhabi Investment Council Co P.J.S.C | $14,286,728 | 403,352 | 0.22% | Shares |
| Arnhold LLC | $13,845,678 | 390,900 | 0.21% | Shares |
| Select Equity Group, L.P. | $13,739,418 | 387,900 | 0.21% | Call option |
| Cinctive Capital Management LP | $13,523,533 | 381,805 | 0.21% | Shares |
| TUDOR INVESTMENT CORP ET AL | $13,522,293 | 381,770 | 0.21% | Shares |
| SummitTX Capital, L.P. | $13,288,557 | 375,171 | 0.20% | Shares |
| Eurizon Capital SGR S.p.A. | $12,686,722 | 358,177 | 0.20% | Shares |
| Darwins River Capital, LP | $12,599,602 | 355,720 | 0.19% | Shares |
| DIVERSIFY WEALTH MANAGEMENT, LLC | $11,440,311 | 308,697 | 0.18% | Shares |
| Diversify Advisory Services, LLC | $11,440,311 | 308,697 | 0.18% | Shares |
| Manchester Global Management (UK) Ltd | $11,413,705 | 322,239 | 0.18% | Shares |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | $11,207,915 | 316,429 | 0.17% | Shares |
| Quinn Opportunity Partners LLC | $11,145,080 | 314,655 | 0.17% | Shares |
| Baltimore-Washington Financial Advisors, Inc. | $10,958,169 | 309,378 | 0.17% | Shares |
| PEREGRINE CAPITAL MANAGEMENT LLC | $10,800,727 | 304,933 | 0.17% | Shares |
| D. E. Shaw & Co., Inc. | $10,526,824 | 297,200 | 0.16% | Put option |
| NEW YORK STATE COMMON RETIREMENT FUND | $10,336,087 | 291,815 | 0.16% | Shares |
| TOWARZYSTWO FUNDUSZY INWESTYCYJNYCH PZU SA | $9,922,630 | 280,142 | 0.15% | Shares |
| AVIVA PLC | $9,631,052 | 271,910 | 0.15% | Shares |
| California Public Employees Retirement System | $9,292,614 | 262,355 | 0.14% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $9,085,513 | 256,508 | 0.14% | Shares |
| BANQUE PICTET & CIE SA | $9,049,987 | 255,505 | 0.14% | Shares |
| Lombard Odier Asset Management (Europe) Ltd | $8,559,172 | 241,648 | 0.13% | Shares |
| WCM INVESTMENT MANAGEMENT, LLC | $8,229,518 | 232,341 | 0.13% | Shares |
| OMERS ADMINISTRATION Corp | $7,709,553 | 217,661 | 0.12% | Shares |
| Korea Investment CORP | $7,700,910 | 217,417 | 0.12% | Shares |
| RHUMBLINE ADVISERS | $7,610,687 | 214,871 | 0.12% | Shares |
| One Capital Management, LLC | $7,325,288 | 215,323 | 0.11% | Shares |
| Bridgewater Associates, LP | $7,311,821 | 206,432 | 0.11% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $7,208,714 | 203,521 | 0.11% | Shares |
| WOLVERINE TRADING, LLC | $7,201,068 | 165,200 | 0.11% | Put option |
Company insiders 9 insiders · 2 officers · 5 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Frank Sluis | CFO | June 22, 2026 A | — | 0 | 0 | $0 |
| Scott Andrew Maguire | COO | June 5, 2026 M | 5,032 | 0 | 1 | $-55,353 |
| Helena Helmersson | Director | June 25, 2026 F | 4,389 | 0 | 0 | $0 |
| Laura Miele | Director | June 25, 2026 F | 8,896 | 0 | 0 | $0 |
| Alexandre Perez | Director | June 22, 2026 A | 9,775,182 | 0 | 0 | $0 |
| Amy Banse | Director | June 22, 2026 A | 79,481 | 0 | 0 | $0 |
| Dennis M Durkin | Director | June 22, 2026 A | 101,586 | 0 | 0 | $0 |
| Caspar Felix Coppetti | — | Aug. 14, 2026 P | 2,440,855 | 1 | 0 | $1,993,550 |
| Olivier Bernhard | — | Aug. 14, 2026 P | 5,228,184 | 1 | 0 | $1,993,550 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 24 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| MID · AMERICAN CENTURY ETF TRUST | 2.88% | 70,309 NS | May 31, 2026 | N-PORT |
| ESIM · Strategy Shares | 0.74% | 3,404 NS | April 30, 2026 | N-PORT |
| IWP · iShares Trust | 0.24% | 1,306,600 SH | Aug. 8, 2026 | Daily |
| IYC · iShares Trust | 0.14% | 45,086 SH | Aug. 8, 2026 | Daily |
| QINT · AMERICAN CENTURY ETF TRUST | 0.11% | 17,471 NS | May 31, 2026 | N-PORT |
| VFQY · VANGUARD WELLINGTON FUND | 0.10% | 13,899 SH | Aug. 8, 2026 | Daily |
| SMLF · iShares Trust | 0.09% | 100,860 SH | Aug. 8, 2026 | Daily |
| IWR · iShares Trust | 0.06% | 920,662 SH | Aug. 8, 2026 | Daily |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.06% | 12,822 SH | Aug. 8, 2026 | Daily |
| AVSD · AMERICAN CENTURY ETF TRUST | 0.05% | 5,949 NS | May 31, 2026 | N-PORT |
| RILA · Spinnaker ETF Series | 0.05% | 532 NS | April 30, 2026 | N-PORT |
| PDN · Invesco Exchange-Traded Fund Trust … | 0.05% | 4,626 SH | Aug. 8, 2026 | Daily |
| IWF · iShares Trust | 0.03% | 852,601 SH | Aug. 8, 2026 | Daily |
| LRGF · iShares Trust | 0.02% | 23,354 SH | Aug. 8, 2026 | Daily |
| VONG · VANGUARD SCOTTSDALE FUNDS | 0.02% | 355,795 SH | Aug. 8, 2026 | Daily |
| AVDE · AMERICAN CENTURY ETF TRUST | 0.02% | 69,358 NS | May 31, 2026 | N-PORT |
| IWB · iShares Trust | 0.01% | 153,311 SH | Aug. 8, 2026 | Daily |
| IWV · iShares Trust | 0.01% | 59,785 SH | Aug. 8, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.01% | 187,132 SH | Aug. 8, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | 0.01% | 37,963 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.01% | 19,132 SH | Aug. 8, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.01% | 51,167 SH | Aug. 8, 2026 | Daily |
| MSLC · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 8,558 NS | May 31, 2026 | N-PORT |
| AVIV · AMERICAN CENTURY ETF TRUST | 0.00% | 108 NS | May 31, 2026 | N-PORT |