On Holding AG (ONON) FCF Margin (2020 - 2026)
On Holding AG (ONON) recorded quarterly FCF Margin of 2.01% in Q1 2026, down 91.97% quarter-over-quarter from 25.01% in Q4 2025, and up 45.0% on a YoY basis from 1.38% in Q1 2025.
On Holding AG (ONON) FCF Margin (2020 - 2026) Analysis & Trends
On Holding AG's FCF Margin history runs 7 years deep, the most recent figure standing at 2.01% for Q1 2026.
- In Q1 2026, FCF Margin rose 45.0% year-over-year to 2.01%; the TTM figure through Mar 2026 stood at 12.08% (down 449.0% YoY), while the FY2025 annual figure was 9.51%, down 991.0% from the prior year.
- FCF Margin was 2.01% for Q1 2026 at On Holding AG, down from 25.01% in the prior quarter.
- In the past five years, FCF Margin ranged from a high of 37.8% in Q4 2024 to a low of 26.81% in Q1 2022.
- Historically, FCF Margin has averaged 8.77% across 5 years, with a median of 2.14% in 2025.
- The sharpest annual moves came in 2022 and 2023: FCF Margin slumped 3233 bps in 2022, then surged 5578 bps in 2023.
- A 5-year view of FCF Margin shows it stood at 19.06% in 2022, then surged by 293 bps to 36.73% in 2023, then climbed by 3 bps to 37.8% in 2024, then tumbled by 34 bps to 25.01% in 2025, then slumped by 92 bps to 2.01% in 2026.
- The last three FCF Margin figures came in at 2.01% (Q1 2026), 25.01% (Q4 2025), and 19.8% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Birkenstock Holding | 102.63 Bn | 102.39 Bn | 390.51 Mn | 8.06% |
| 2 | Nike | 65.09 Bn | 57.03 Bn | 4.53 Bn | 2.52% |
| 3 | Deckers Outdoor | 16.02 Bn | 13.93 Bn | 1.17 Bn | 52.12% |
| 4 | Crocs | 6.13 Bn | 6.00 Bn | 522.95 Mn | -10.74% |
| 5 | Steven Madden | 3.14 Bn | 3.10 Bn | 357.42 Mn | -9.43% |
| 6 | Wolverine World Wide | 1.98 Bn | 1.79 Bn | 243.40 Mn | 30.94% |
| 7 | On Holding AG | 1.66 Bn | 264.30 Mn | 682.30 Mn | 2.01% |
| 8 | Forward Industries | 381.04 Mn | 355.65 Mn | 16.85 Mn | -36.99% |
| 9 | Designer Brands | 349.93 Mn | 299.82 Mn | 315.32 Mn | -3.55% |
| 10 | Weyco | 343.83 Mn | 246.40 Mn | 33.84 Mn | 30.14% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 2.01% |
| Dec 31, 2025 | 25.01% |
| Sep 30, 2025 | 19.80% |
| Jun 30, 2025 | 2.14% |
| Mar 31, 2025 | 1.56% |
| Dec 31, 2024 | 37.80% |
| Sep 30, 2024 | 24.90% |
| Jun 30, 2024 | 2.77% |
| Mar 31, 2024 | 1.57% |
| Dec 31, 2023 | 36.73% |
| Sep 30, 2023 | 22.35% |
| Jun 30, 2023 | 0.88% |
| Mar 31, 2023 | -0.14% |
| Dec 31, 2022 | -19.06% |
| Mar 31, 2022 | -26.81% |
| Dec 31, 2021 | 13.28% |
| Mar 31, 2021 | -12.45% |
| Dec 31, 2020 | -2.74% |