On Holding AG (ONON) Net Margin (2020 - 2026)

On Holding AG (ONON) recorded quarterly Net Margin of 14.86% in Q1 2026, up 59.93% quarter-over-quarter from 9.29% in Q4 2025, and up 515.0% on a YoY basis from 2.42% in Q1 2025.

On Holding AG (ONON) Net Margin (2020 - 2026) Analysis & Trends

On Holding AG's Net Margin history runs 7 years deep, the most recent figure standing at 14.86% for Q1 2026.

  • In Q1 2026, Net Margin rose 515.0% year-over-year to 14.86%; the TTM figure through Mar 2026 stood at 9.92% (down 23.0% YoY), while the FY2025 annual figure was 6.76%, down 369.0% from the prior year.
  • Net Margin was 14.86% for Q1 2026 at On Holding AG, up from 9.29% in the prior quarter.
  • In the past five years, Net Margin ranged from a high of 20.96% in Q1 2024 to a low of 7.2% in Q4 2022.
  • Historically, Net Margin has averaged 8.45% across 5 years, with a median of 9.29% in 2025.
  • The sharpest annual moves came in 2022 and 2023: Net Margin soared 8187 bps in 2022, then plunged 1272 bps in 2023.
  • A 5-year view of Net Margin shows it stood at 7.2% in 2022, then increased by 17 bps to 5.99% in 2023, then jumped by 346 bps to 14.75% in 2024, then tumbled by 37 bps to 9.29% in 2025, then surged by 60 bps to 14.86% in 2026.
  • The last three Net Margin figures came in at 14.86% (Q1 2026), 9.29% (Q4 2025), and 17.88% (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Net Margin (Qtr)
1 Birkenstock Holding 102.63 Bn 102.39 Bn 390.51 Mn 19.67%
2 Nike 65.09 Bn 57.03 Bn 4.53 Bn 4.61%
3 Deckers Outdoor 16.02 Bn 13.93 Bn 1.17 Bn 24.58%
4 Crocs 6.13 Bn 6.00 Bn 522.95 Mn 14.93%
5 Steven Madden 3.14 Bn 3.10 Bn 357.42 Mn 11.03%
6 Wolverine World Wide 1.98 Bn 1.79 Bn 243.40 Mn 6.28%
7 On Holding AG 1.66 Bn 264.30 Mn 682.30 Mn 14.86%
8 Forward Industries 381.04 Mn 355.65 Mn 16.85 Mn -2,732.19%
9 Designer Brands 349.93 Mn 299.82 Mn 315.32 Mn 0.57%
10 Weyco 343.83 Mn 246.40 Mn 33.84 Mn 11.75%

Historic Data

Download Data
DateValue
Mar 31, 2026 14.86%
Dec 31, 2025 9.29%
Sep 30, 2025 17.88%
Jun 30, 2025 -3.96%
Mar 31, 2025 9.70%
Dec 31, 2024 14.75%
Sep 30, 2024 7.90%
Jun 30, 2024 8.26%
Mar 31, 2024 20.96%
Dec 31, 2023 -5.99%
Sep 30, 2023 13.63%
Jun 30, 2023 2.63%
Mar 31, 2023 11.61%
Dec 31, 2022 -7.20%
Sep 30, 2022 6.80%
Jun 30, 2022 15.36%
Mar 31, 2022 7.21%
Dec 31, 2021 -89.06%
Sep 30, 2021 8.48%
Jun 30, 2021 7.99%