On Holding Reports Strong Growth in 2025 Despite Stock Decline
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 03 2026
0mins
Should l Buy NKE?
Source: CNBC
- Strong Sales Performance: On Holding reported fourth-quarter net sales of 743.8 million Swiss francs ($946 million) in 2025, reflecting a 30.6% year-over-year increase and surpassing market expectations of 723.5 million francs, indicating robust performance in the premium athletic footwear market.
- Annual Sales Milestone: For the first time, the company exceeded 3 billion Swiss francs in total sales for 2025, reaching 3.01 billion francs, slightly above the estimated 2.99 billion francs, demonstrating its growing market share in the rapidly expanding sports apparel sector.
- Future Growth Outlook: On expects net sales to grow by at least 23% in 2026, projecting a minimum of 3.44 billion francs, although sell-side analysts had anticipated closer to 3.7 billion francs, reflecting a cautious market sentiment regarding future growth.
- Profitability Improvement: The company achieved an adjusted EBITDA of 131 million Swiss francs, up 31.8%, with an EBITDA margin of 18.8%, exceeding market expectations of 112.4 million francs, showcasing success in operational efficiency and brand positioning.
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Analyst Views on NKE
Wall Street analysts forecast NKE stock price to rise
21 Analyst Rating
14 Buy
7 Hold
0 Sell
Moderate Buy
Current: 56.530
Low
62.00
Averages
76.11
High
110.00
Current: 56.530
Low
62.00
Averages
76.11
High
110.00
About NKE
NIKE, Inc. is engaged in the designing, marketing and distributing of athletic footwear, apparel, equipment and accessories and services for sports and fitness activities. The Company's operating segments include North America; Europe, Middle East & Africa (EMEA); Greater China; and Asia Pacific & Latin America (APLA). It sells a line of equipment and accessories under the NIKE Brand name, including bags, socks, sport balls, eyewear, timepieces, digital devices, bats, gloves, protective equipment and other equipment designed for sports activities. It also designs products specifically for the Jordan Brand and Converse. The Jordan Brand designs, distributes and licenses athletic and casual footwear, apparel and accessories predominantly focused on basketball performance and culture using the Jumpman trademark. The Company also designs, distributes and licenses casual sneakers, apparel and accessories under the Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell trademarks.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- North American Growth: Despite overall weak performance, Nike's revenue in North America grew 9% year-over-year to $5.6 billion, with the running category seeing a 20% increase for the second consecutive quarter, demonstrating that the brand's innovation and new styles resonate well with consumers.
- Profitability Under Pressure: Nike's earnings per share fell 32% year-over-year, and with marketing expenses growing faster than revenue, the company's goal to improve operating profit margins back above 10% will take time, posing challenges to profitability in the short term.
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See More
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