On Holding AG (ONON) SEC Filings & Earnings Calls
EquiReason read 10 On Holding AG SEC filings in the last 12 months. Latest: 6-K on 2026-09-22 — On Holding AG announces inaugural $1B share repurchase authorization through 2029, alongside 2029 financial targets including high-teens net sales CAGR, 65%+ gross margin, and 22%+.
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
- Market cap
- 9.7B
- P/E TTM
- —
- Dividend yield
- —
- 52-week
- —
- Next earnings
- 17 Nov, in 24 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
22 Sep 20266-KOn Holding AG announces inaugural $1B share repurchase authorization through 2029, alongside 2029 financial targets including high-teens net sales CAGR, 65%+ gross margin, and 22%+ adjusted EBITDA margin.open
Figures in the filing · each found in the filing text
| Net sales · FY2029 | $5.60B | |
| Gross profit margin · FY2026-2029 | 65.0% | |
| Adjusted EBITDA margin · FY2029 | 22.0% | |
| Adjusted EBITDA CAGR · 2026-2029 | 20.0% | |
| Constant currency net sales growth · Q3-2026 | 17.0% |
Guidance
FY2026: constant currency net sales growth low-20% range, gross profit margin at least 65.0%, adjusted EBITDA margin 19.5-20.0%; Q3-2026: constant currency net sales growth ~17%; FY2029 targets: net sales at least CHF 5.6B, gross margin 65%+, adjusted EBITDA margin 22%+, adjusted EBITDA CAGR >20%
On reiterates FY2026 outlook and introduces ambitious 2029 targets with strong growth and margin expansion, supported by inaugural $1B buyback.
Risks flagged
Execution risk on new categories (Football, Golf) and sustained premium positioning
“our ability to successfully enter and compete in new sports categories, including football and golf” · word for word
Geopolitical and supply chain disruptions could impact growth
“geopolitical uncertainty and instability, such as the on-going Russia-Ukraine or Israel-Hamas conflicts and on-going shipping disruptions in the Red Sea” · word for word
12 May 20266-KOn Holding AG reports record Q1 2026 net sales of CHF 831.9M (+14.5% YoY, +26.4% cc), gross margin 64.2% (+430bps), adj. EBITDA margin 21.0% (+450bps). Raises FY2026 gross margin guidance to at least 64.5% and adj. EBITDA margin to 19.5-20.open
Figures in the filing · each found in the filing text
| Net Sales · Q1-2026 | $832M | +15% y/y |
| DTC Net Sales · DTC · Q1-2026 | $322M | +16% y/y |
| Wholesale Net Sales · Wholesale · Q1-2026 | $510M | +13% y/y |
| EMEA Net Sales · EMEA · Q1-2026 | $207M | +23% y/y |
| Americas Net Sales · Americas · Q1-2026 | $451M | +3% y/y |
| APAC Net Sales · APAC · Q1-2026 | $174M | +44% y/y |
| Shoes Net Sales · Shoes · Q1-2026 | $764M | +12% y/y |
| Gross Profit Margin · Q1-2026 | 64.2% | |
| Adjusted EBITDA Margin · Q1-2026 | 21.0% |
Guidance
FY2026 gross margin at least 64.5% (from prior); adj. EBITDA margin 19.5-20.0%
Raised profitability guidance on strong Q1 performance and full-price discipline.
25 Mar 20266-KOn Holding AG announces CEO transition: co-founders become Co-CEOs, Martin Hoffmann steps down, new CFO appointed. Organizational restructuring to support next growth phase.open
Figures in the filing · each found in the filing text
| annual net sales · FY2025 | $3.00B |
Risks flagged
Leadership transition risk: CEO departure and new co-CEO structure may cause short-term execution uncertainty.
“Martin Hoffmann stepping down after 13 years; new co-CEO structure untested at scale.”
3 Mar 202620-FAnnual results: net sales grew 30.0% YoY to CHF 3,014M, with strong growth across all regions, channels, and product categories.earningsopen
Figures in the filing · each found in the filing text
| Net sales · FY2025 | $3.01B | +30% y/y |
| DTC net revenue · FY2025 | $1.26B | +34% y/y |
| Wholesale net revenue · FY2025 | $1.75B | +28% y/y |
| Americas net revenue · FY2025 | $1.74B | +18% y/y |
| EMEA net revenue · FY2025 | $763M | +32% y/y |
| APAC net revenue · FY2025 | $511M | +96% y/y |
| Shoes net revenue · FY2025 | $2.80B | +28% y/y |
| Apparel net revenue · FY2025 | $170M | +68% y/y |
| Accessories net revenue · FY2025 | $40M | +124% y/y |
| Owned retail stores · 2025-12-31 | 67 |
Risks flagged
Supplier concentration
“We work with a focused network of fewer than 30 suppliers, with 6 partners accounting for approximately 70% of our production in 2025.” · word for word
Tariff and trade policy risk
“Changes in tax policy or trade regulations, or the imposition of new tariffs on imported products, could have an adverse effect on our business and results of operations.” · word for word
Competition from larger incumbents
“Primary competitors include established global sportswear companies and specialized performance brands, such as Nike, Inc., adidas AG, Under Armour, Inc., Brooks Sports Inc., Hoka One One (Deckers Outdoor Corporation), ASICS Corporation, New Balance Athletics, Inc., lululemon athletica Inc., Alo, LLC., Patagonia, Inc., Arc’teryx Equipment, Anta Sports Produc” · word for word
12 Nov 20256-KOn reports record Q3 2025 net sales of CHF 794.4M (+24.9% YoY), gross margin 65.7% (+510bps), and raises full-year 2025 guidance: net sales growth to 34% CC, gross margin ~62.5%, adj. EBITDA margin >18.0%.open
Figures in the filing · each found in the filing text
| Net sales · Q3-2025 | $794M | +25% y/y |
| DTC net sales · DTC · Q3-2025 | $315M | +28% y/y |
| Wholesale net sales · Wholesale · Q3-2025 | $480M | +23% y/y |
| EMEA net sales · EMEA · Q3-2025 | $213M | +29% y/y |
| Americas net sales · Americas · Q3-2025 | $436M | +10% y/y |
| APAC net sales · APAC · Q3-2025 | $145M | +94% y/y |
| Shoes net sales · Shoes · Q3-2025 | $731M | +21% y/y |
| Apparel net sales · Apparel · Q3-2025 | $50M | +87% y/y |
| Accessories net sales · Accessories · Q3-2025 | $13M | +145% y/y |
| Gross profit margin · Q3-2025 | 65.7% |
Guidance
Constant currency net sales growth now 34% (from prior); gross margin ~62.5% (from prior); adjusted EBITDA margin >18.0%
Full-year 2025 guidance raised across all key metrics: net sales growth, gross margin, and EBITDA margin, reflecting strong momentum and confidence.
Risks flagged
Foreign exchange headwinds
“Company manages foreign exchange headwinds; constant currency growth (34.5%) significantly exceeds reported growth (24.9%), indicating FX drag.”
One-off freight benefit may not recur
“Gross margin includes one-off positive impact of approximately 200 basis points related to lower-than-anticipated freight and other costs.”
On Holding AG — questions
- What did On Holding AG file recently?
- 10 SEC filings in the last 12 months. Latest: 6-K on 2026-09-22 — On Holding AG announces inaugural $1B share repurchase authorization through 2029, alongside 2029 financial targets including high-teens net sales CAGR, 65%+ gross margin, and 22%+ adjusted EBITDA margin.
Every figure on this page comes from On Holding AG's own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.