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| Date | Value |
|---|---|
| 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% |