ScoreWhy is On Holding AG ?
1
Company has a low Debt to Equity ratio (avg) at times
2
Healthy long term growth as Net Sales has grown by an annual rate of 297.65% and Operating profit at 231.00%
3
Positive results in Jun 25
- OPERATING CASH FLOW(Y) Highest at USD 465.59 MM
- RAW MATERIAL COST(Y) Fallen by -2.66% (YoY)
- INVENTORY TURNOVER RATIO(HY) Highest at 2.72 times
Real-Time Research ReportHow much should you buy?
- Overall Portfolio exposure to On Holding AG should be less than 10%
- Overall Portfolio exposure to Footwear should be less than 30%
(If sector exposure > 30%, please use optimiser tool to see which are the best stocks to hold in Footwear)
When to exit? - We will constantly monitor the company and suggest at the appropriate time to exit from the stock
Is On Holding AG for you?
High Risk, Medium Return
Absolute
Risk Adjusted
Volatility
On Holding AG
-30.77%
0.31
50.77%
S&P 500
22.93%
0.70
20.15%
Quality
Management Risk
Growth
Capital StructureQuality key factors
Factor
Value
Sales Growth (5y)
198.69%
EBIT Growth (5y)
151.99%
EBIT to Interest (avg)
7.82
Debt to EBITDA (avg)
0
Net Debt to Equity (avg)
-0.52
Sales to Capital Employed (avg)
1.54
Tax Ratio
8.64%
Dividend Payout Ratio
0
Pledged Shares
0
Institutional Holding
89.33%
ROCE (avg)
26.58%
ROE (avg)
11.19%
ValuationValuation Key Factors 
Factor
Value
P/E Ratio
44
Industry P/E
Price to Book Value
5.36
EV to EBIT
21.73
EV to EBITDA
16.25
EV to Capital Employed
10.45
EV to Sales
2.73
PEG Ratio
NA
Dividend Yield
NA
ROCE (Latest)
48.08%
ROE (Latest)
12.07%
TechnicalsTechnical key factors
Indicator
Weekly
Monthly
MACD
Bearish
Mildly Bearish
RSI
No Signal
No Signal
Bollinger Bands
Mildly Bearish
Mildly Bearish
Moving Averages
Bearish (Daily)
KST
Bearish
Mildly Bearish
Dow Theory
Mildly Bullish
No Trend
OBV
Mildly Bullish
No Trend
Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish Turned 
Financial Trend23What is working for the Company
OPERATING CASH FLOW(Y)
Highest at USD 470.3 MM
ROCE(HY)
Highest at 16.48%
INVENTORY TURNOVER RATIO(HY)
Highest at 2.94 times
DEBTORS TURNOVER RATIO(HY)
Highest at 8.54 times
PRE-TAX PROFIT(Q)
At USD 148.15 MM has Grown at 137.35%
NET PROFIT(Q)
At USD 131.82 MM has Grown at 112.05%
RAW MATERIAL COST(Y)
Fallen by -7.33% (YoY
NET SALES(Q)
Highest at USD 1,061.54 MM
-4What is not working for the Company
INTEREST(HY)
At USD 19.97 MM has Grown at 50.28%
Here's what is working for On Holding AG
Operating Cash Flow
Highest at USD 470.3 MM and Grown
In each year in the last three yearsMOJO Watch
The company has generated higher cash revenues from business operations
Operating Cash Flows (USD MM)
Pre-Tax Profit
At USD 148.15 MM has Grown at 137.35%
over average net sales of the previous four periods of USD 62.42 MMMOJO Watch
Near term Pre-Tax Profit trend is very positive
Pre-Tax Profit (USD MM)
Net Profit
At USD 131.82 MM has Grown at 112.05%
over average net sales of the previous four periods of USD 62.16 MMMOJO Watch
Near term Net Profit trend is very positive
Net Profit (USD MM)
Inventory Turnover Ratio
Highest at 2.94 times and Grown
In each half year in the last five Semi-Annual periodsMOJO Watch
Company has been able to sell its inventory faster
Inventory Turnover Ratio
Debtors Turnover Ratio
Highest at 8.54 times and Grown
In each half year in the last five Semi-Annual periodsMOJO Watch
Company has been able to sell its Debtors faster
Debtors Turnover Ratio
Net Sales
Highest at USD 1,061.54 MM
in the last five periodsMOJO Watch
Near term sales trend is positive
Net Sales (USD MM)
Net Sales
At USD 1,061.54 MM has Grown at 16.73%
over average net sales of the previous four periods of USD 909.43 MMMOJO Watch
Near term sales trend is positive
Net Sales (USD MM)
Raw Material Cost
Fallen by -7.33% (YoY)
MOJO Watch
The company's ability to pass on the cost of raw materials to customers has improved; this may lead to a rise in profit margin
Raw Material Cost as a percentage of Sales
Depreciation
Highest at USD 45.43 MM
in the last five periodsMOJO Watch
The expenditure on assets done by the company may have gone into operation
Depreciation (USD MM)
Here's what is not working for On Holding AG
Interest
At USD 19.97 MM has Grown at 50.28%
over previous Semi-Annual periodMOJO Watch
Rising interest cost signifies increased borrowings
Interest Paid (USD MM)
InfinHub Market Technologies FZ-LLC, Building-2, Unit 112, Dubai Internet City, Dubai, United Arab Emirates
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