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
DateValue
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%