On Holding AG (ONON) Gross Margin (2020 - 2026)
On Holding AG (ONON) recorded quarterly Gross Margin of 64.23% in Q1 2026, up 0.51% quarter-over-quarter from 63.9% in Q4 2025, and up 432.0% on a YoY basis from 12.07% in Q1 2025.
On Holding AG (ONON) Gross Margin (2020 - 2026) Analysis & Trends
On Holding AG's Gross Margin history runs 7 years deep, the most recent figure standing at 64.23% for Q1 2026.
- In Q1 2026, Gross Margin rose 432.0% year-over-year to 64.23%; the TTM figure through Mar 2026 stood at 63.9% (up 328.0% YoY), while the FY2025 annual figure was 62.83%, up 219.0% from the prior year.
- Gross Margin was 64.23% for Q1 2026 at On Holding AG, up from 63.9% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 65.74% in Q3 2025 to a low of 51.8% in Q1 2022.
- Historically, Gross Margin has averaged 59.9% across 5 years, with a median of 59.91% in 2025.
- The sharpest annual moves came in 2022 and 2023: Gross Margin slumped 577 bps in 2022, then surged 648 bps in 2023.
- A 5-year view of Gross Margin shows it stood at 58.51% in 2022, then rose by 3 bps to 60.43% in 2023, then rose by 3 bps to 62.12% in 2024, then grew by 3 bps to 63.9% in 2025, then rose by 1 bps to 64.23% in 2026.
- The last three Gross Margin figures came in at 64.23% (Q1 2026), 63.9% (Q4 2025), and 65.74% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Birkenstock Holding | 102.63 Bn | 102.39 Bn | 390.51 Mn | 53.94% |
| 2 | Nike | 65.09 Bn | 57.03 Bn | 4.53 Bn | 40.16% |
| 3 | Deckers Outdoor | 16.02 Bn | 13.93 Bn | 1.17 Bn | 59.84% |
| 4 | Crocs | 6.13 Bn | 6.00 Bn | 522.95 Mn | 56.75% |
| 5 | Steven Madden | 3.14 Bn | 3.10 Bn | 357.42 Mn | 55.02% |
| 6 | Wolverine World Wide | 1.98 Bn | 1.79 Bn | 243.40 Mn | 47.03% |
| 7 | On Holding AG | 1.66 Bn | 264.30 Mn | 682.30 Mn | 64.23% |
| 8 | Forward Industries | 381.04 Mn | 355.65 Mn | 16.85 Mn | 78.61% |
| 9 | Designer Brands | 349.93 Mn | 299.82 Mn | 315.32 Mn | 45.28% |
| 10 | Weyco | 343.83 Mn | 246.40 Mn | 33.84 Mn | 44.07% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 64.23% |
| Dec 31, 2025 | 63.90% |
| Sep 30, 2025 | 65.74% |
| Jun 30, 2025 | 61.51% |
| Mar 31, 2025 | 59.91% |
| Dec 31, 2024 | 62.12% |
| Sep 30, 2024 | 60.60% |
| Jun 30, 2024 | 59.93% |
| Mar 31, 2024 | 59.68% |
| Dec 31, 2023 | 60.43% |
| Sep 30, 2023 | 59.88% |
| Jun 30, 2023 | 59.53% |
| Mar 31, 2023 | 58.28% |
| Dec 31, 2022 | 58.51% |
| Sep 30, 2022 | 57.13% |
| Jun 30, 2022 | 55.13% |
| Mar 31, 2022 | 51.80% |
| Dec 31, 2021 | 58.50% |
| Sep 30, 2021 | 60.21% |
| Jun 30, 2021 | 60.75% |