ONON Valuation

On Holding AG

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51.750

+0.8(1.570%)1D

Overview
Forecast
Valuation
Earnings

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 4.27 is considered Fairly compared with the five-year average of 57.11. The fair price of On Holding AG (ONON) is between 35.59 to 82.55 according to relative valuation methord.

Relative Value

Fair Zone

35.59-82.55

Current Price：51.75

Fair

40.46

Trailing

Forward

24.28

EV/EBITDA

On Holding AG. (ONON) has a current EV/EBITDA of 24.28. The 5-year average EV/EBITDA is 36.20. The thresholds are as follows: Strongly Undervalued below -20.19, Undervalued between -20.19 and 8.01, Fairly Valued between 64.40 and 8.01, Overvalued between 64.40 and 92.59, and Strongly Overvalued above 92.59. The current Forward EV/EBITDA of 24.28 falls within the Historic Trend Line -Fairly Valued range.

39.31

EV/EBIT

On Holding AG. (ONON) has a current EV/EBIT of 39.31. The 5-year average EV/EBIT is 54.93. The thresholds are as follows: Strongly Undervalued below -63.39, Undervalued between -63.39 and -4.23, Fairly Valued between 114.09 and -4.23, Overvalued between 114.09 and 173.26, and Strongly Overvalued above 173.26. The current Forward EV/EBIT of 39.31 falls within the Historic Trend Line -Fairly Valued range.

4.33

On Holding AG. (ONON) has a current PS of 4.33. The 5-year average PS is 5.28. The thresholds are as follows: Strongly Undervalued below 0.44, Undervalued between 0.44 and 2.86, Fairly Valued between 7.70 and 2.86, Overvalued between 7.70 and 10.12, and Strongly Overvalued above 10.12. The current Forward PS of 4.33 falls within the Historic Trend Line -Fairly Valued range.

79.53

P/OCF

On Holding AG. (ONON) has a current P/OCF of 79.53. The 5-year average P/OCF is 66.41. The thresholds are as follows: Strongly Undervalued below -238.62, Undervalued between -238.62 and -86.10, Fairly Valued between 218.92 and -86.10, Overvalued between 218.92 and 371.44, and Strongly Overvalued above 371.44. The current Forward P/OCF of 79.53 falls within the Historic Trend Line -Fairly Valued range.

65.12

P/FCF

On Holding AG. (ONON) has a current P/FCF of 65.12. The 5-year average P/FCF is -145.52. The thresholds are as follows: Strongly Undervalued below -1175.60, Undervalued between -1175.60 and -660.56, Fairly Valued between 369.52 and -660.56, Overvalued between 369.52 and 884.56, and Strongly Overvalued above 884.56. The current Forward P/FCF of 65.12 falls within the Historic Trend Line -Fairly Valued range.

On Holding AG (ONON) has a current Price-to-Book (P/B) ratio of 9.11. Compared to its 3-year average P/B ratio of 8.61 , the current P/B ratio is approximately 5.78% higher. Relative to its 5-year average P/B ratio of 9.08, the current P/B ratio is about 0.39% higher. On Holding AG (ONON) has a Forward Free Cash Flow (FCF) yield of approximately 2.71%. Compared to its 3-year average FCF yield of 0.21%, the current FCF yield is approximately 1180.84% lower. Relative to its 5-year average FCF yield of 0.01% , the current FCF yield is about 53913.52% lower.

9.35

P/B

Median3y

8.61

Median5y

9.08

2.67

FCF Yield

Median3y

0.21

Median5y

0.01

Competitors Valuation Multiple

The average P/S ratio for ONON's competitors is 2.79, providing a benchmark for relative valuation. On Holding AG Corp (ONON) exhibits a P/S ratio of 4.33, which is 55.27% above the industry average. Given its robust revenue growth of 42.98%, this premium appears sustainable.

P/S

P/E

EV/EBITDA

EV/EBIT

P/S

Revenue Growth

Market Cap

Gildan Activewear Inc

Birkenstock Holding PLC

Performance Decomposition

Market capitalization of ONON increased by 24.94% over the past 1 year. The primary factor behind the change was an increase in Revenue Growth from 508.20M to 726.60M.

The secondary factor is the P/E Change, contributed 38.60%to the performance.

Overall, the performance of ONON in the past 1 year is driven by Revenue Growth. Which is more sustainable.

42.98%

508.20M → 726.60M

Revenue Growth

-56.64%

17.99 → 7.80

Margin Expansion

38.60%

47.65 → 66.04

P/E Change

24.94%