On Surpasses Expectations, Raises Profitability Outlook
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 12 2026
0mins
Source: Newsfilter
- Performance Exceeds Expectations: On reported first-quarter revenue of 831.9 million Swiss francs, a 14.5% increase year-over-year, surpassing analyst expectations of 823 million francs, indicating strong market performance.
- Direct Sales Challenges: Despite robust overall growth, On's direct-to-consumer sales grew 16.4% to 322.3 million francs, falling short of the expected 326 million francs, highlighting challenges in a competitive market.
- Executive Change: Just before the quarter ended, On announced co-founders David Allemann and Caspar Coppetti would replace CEO Martin Hoffmann, who had led since 2021, signaling a continuation of the company's strategic vision.
- Profitability Outlook Raised: On expects its gross profit margin to reach at least 64.5% by 2026, up from a previous forecast of 63%, despite still accounting for a 20% tariff on imports, reflecting confidence in future profitability.
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Analyst Views on ONON
Wall Street analysts forecast ONON stock price to rise
21 Analyst Rating
18 Buy
2 Hold
1 Sell
Strong Buy
Current: 39.750
Low
30.00
Averages
60.79
High
85.00
Current: 39.750
Low
30.00
Averages
60.79
High
85.00
About ONON
On Holding AG is a Switzerland-based company active in athletic sports accesories industry. The Company provides footwear and sports apparel and is engaged in developing and distributing performance sports products, through independent retailers and global distributors. The Company sells its products trough the internet and its own stores.
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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- Consumer Spending Trends: The athletic apparel industry faces challenges from slowing consumer spending, particularly in North America; although On Holdings and Adidas excel in pricing new products, the overall market must focus on pricing power and inventory management.
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See More
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