ONON Relative Valuation
ONON's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, ONON is overvalued; if below, it's undervalued.
Historical Valuation
On Holding AG (ONON) is now in the Fair zone, suggesting that its current forward PS ratio of 0.00 is considered Fairly compared with the five-year average of 54.72. The fair price of On Holding AG (ONON) is between NaN to NaN according to relative valuation methord.
Relative Value
Fair Zone
NaN-NaN
Current Price：46.51
Fair
29.62
PE
1Y
3Y
5Y
Trailing
Forward
18.82
EV/EBITDA
On Holding AG. (ONON) has a current EV/EBITDA of 18.82. The 5-year average EV/EBITDA is 34.64. The thresholds are as follows: Strongly Undervalued below -20.29, Undervalued between -20.29 and 7.17, Fairly Valued between 62.10 and 7.17, Overvalued between 62.10 and 89.57, and Strongly Overvalued above 89.57. The current Forward EV/EBITDA of 18.82 falls within the Historic Trend Line -Fairly Valued range.
27.84
EV/EBIT
On Holding AG. (ONON) has a current EV/EBIT of 27.84. The 5-year average EV/EBIT is 52.51. The thresholds are as follows: Strongly Undervalued below -61.81, Undervalued between -61.81 and -4.65, Fairly Valued between 109.67 and -4.65, Overvalued between 109.67 and 166.84, and Strongly Overvalued above 166.84. The current Forward EV/EBIT of 27.84 falls within the Historic Trend Line -Fairly Valued range.
3.62
PS
On Holding AG. (ONON) has a current PS of 3.62. The 5-year average PS is 5.12. The thresholds are as follows: Strongly Undervalued below 0.36, Undervalued between 0.36 and 2.74, Fairly Valued between 7.50 and 2.74, Overvalued between 7.50 and 9.88, and Strongly Overvalued above 9.88. The current Forward PS of 3.62 falls within the Historic Trend Line -Fairly Valued range.
49.23
P/OCF
On Holding AG. (ONON) has a current P/OCF of 49.23. The 5-year average P/OCF is 63.86. The thresholds are as follows: Strongly Undervalued below -228.35, Undervalued between -228.35 and -82.25, Fairly Valued between 209.96 and -82.25, Overvalued between 209.96 and 356.06, and Strongly Overvalued above 356.06. The current Forward P/OCF of 49.23 falls within the Historic Trend Line -Fairly Valued range.
54.65
P/FCF
On Holding AG. (ONON) has a current P/FCF of 54.65. The 5-year average P/FCF is -124.28. The thresholds are as follows: Strongly Undervalued below -1120.19, Undervalued between -1120.19 and -622.24, Fairly Valued between 373.68 and -622.24, Overvalued between 373.68 and 871.64, and Strongly Overvalued above 871.64. The current Forward P/FCF of 54.65 falls within the Historic Trend Line -Fairly Valued range.
On Holding AG (ONON) has a current Price-to-Book (P/B) ratio of 8.00. Compared to its 3-year average P/B ratio of 8.81 , the current P/B ratio is approximately -9.13% higher. Relative to its 5-year average P/B ratio of 8.97, the current P/B ratio is about -10.79% higher. On Holding AG (ONON) has a Forward Free Cash Flow (FCF) yield of approximately 0.00%. Compared to its 3-year average FCF yield of 0.96%, the current FCF yield is approximately -100.00% lower. Relative to its 5-year average FCF yield of 0.27% , the current FCF yield is about -100.00% lower.
8.00
P/B
Median3y
8.81
Median5y
8.97
2.79
FCF Yield
Median3y
0.96
Median5y
0.27
Competitors Valuation Multiple
The average P/S ratio for ONON's competitors is , providing a benchmark for relative valuation. On Holding AG Corp (ONON) exhibits a P/S ratio of , which is NaN% above the industry average. Given its robust revenue growth of 24.94%, this premium appears sustainable.
P/S
P/E
EV/EBITDA
EV/EBIT
P/S
Revenue Growth
Market Cap
Performance Decomposition
1Y
3Y
5Y
Market capitalization of ONON decreased by 15.08% over the past 1 year. The primary factor behind the change was an increase in Margin Expansion from 4.80 to 14.89.
The secondary factor is the Revenue Growth, contributed 24.94%to the performance.
Overall, the performance of ONON in the past 1 year is driven by Margin Expansion. Which is more sustainable.
People Also Watch
FAQ
Is On Holding AG (ONON) currently overvalued or undervalued?
What is On Holding AG (ONON) fair value?
How does ONON's valuation metrics compare to the industry average?
What is the current P/B ratio for On Holding AG (ONON) as of Dec 05 2025?
What is the current FCF Yield for On Holding AG (ONON) as of Dec 05 2025?
What is the current Forward P/E ratio for On Holding AG (ONON) as of Dec 05 2025?