On Holding AG (ONON) Operating Expenses (2020 - 2026)
On Holding AG (ONON) recorded quarterly Operating Expenses of -$532.4 million in Q1 2026, down 8.33% quarter-over-quarter from -$491.5 million in Q4 2025, and down 33.63% on a YoY basis from -$802.1 million in Q1 2025.
On Holding AG (ONON) Operating Expenses (2020 - 2026) Analysis & Trends
On Holding AG's Operating Expenses history runs 7 years deep, the most recent figure standing at -$532.4 million for Q1 2026.
- In Q1 2026, Operating Expenses fell 33.63% year-over-year to -$532.4 million; the TTM figure through Mar 2026 stood at -$2.0 billion (down 35.28% YoY), while the FY2025 annual figure was -$1.9 billion, down 39.2% from the prior year.
- Operating Expenses was -$532.4 million for Q1 2026 at On Holding AG, down from -$491.5 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of -$128.5 million in Q1 2022 to a low of -$532.4 million in Q1 2026.
- Historically, Operating Expenses has averaged -$314.0 million across 5 years, with a median of -$303.4 million in 2024.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses surged 33.86% in 2022, then plunged 79.27% in 2023.
- A 5-year view of Operating Expenses shows it stood at -$207.5 million in 2022, then decreased by 24.63% to -$258.6 million in 2023, then plunged by 42.88% to -$369.5 million in 2024, then sank by 33.0% to -$491.5 million in 2025, then dropped by 8.33% to -$532.4 million in 2026.
- The last three Operating Expenses figures came in at -$532.4 million (Q1 2026), -$491.5 million (Q4 2025), and -$496.9 million (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Birkenstock Holding | 102.63 Bn | 102.39 Bn | 390.51 Mn | -38.60 Mn |
| 2 | Nike | 65.09 Bn | 57.03 Bn | 4.53 Bn | 2.89 Bn |
| 3 | Deckers Outdoor | 16.02 Bn | 13.93 Bn | 1.17 Bn | 556.99 Mn |
| 4 | Crocs | 6.13 Bn | 6.00 Bn | 522.95 Mn | 322.10 Mn |
| 5 | Steven Madden | 3.14 Bn | 3.10 Bn | 357.42 Mn | 258.29 Mn |
| 6 | Wolverine World Wide | 1.98 Bn | 1.79 Bn | 243.40 Mn | 192.40 Mn |
| 7 | On Holding AG | 1.66 Bn | 264.30 Mn | 682.30 Mn | -532.38 Mn |
| 8 | Forward Industries | 381.04 Mn | 355.65 Mn | 16.85 Mn | 3.25 Mn |
| 9 | Designer Brands | 349.93 Mn | 299.82 Mn | 315.32 Mn | 299.21 Mn |
| 10 | Weyco | 343.83 Mn | 246.40 Mn | 33.84 Mn | 23.65 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -532.38 Mn |
| Dec 31, 2025 | -491.46 Mn |
| Sep 30, 2025 | -496.92 Mn |
| Jun 30, 2025 | -444.50 Mn |
| Mar 31, 2025 | -398.41 Mn |
| Dec 31, 2024 | -369.51 Mn |
| Sep 30, 2024 | -360.92 Mn |
| Jun 30, 2024 | -323.89 Mn |
| Mar 31, 2024 | -303.38 Mn |
| Dec 31, 2023 | -258.62 Mn |
| Sep 30, 2023 | -260.28 Mn |
| Jun 30, 2023 | -250.35 Mn |
| Mar 31, 2023 | -219.04 Mn |
| Dec 31, 2022 | -207.50 Mn |
| Sep 30, 2022 | -151.90 Mn |
| Jun 30, 2022 | -139.65 Mn |
| Mar 31, 2022 | -128.53 Mn |
| Dec 31, 2021 | -313.75 Mn |
| Sep 30, 2021 | -116.98 Mn |
| Jun 30, 2021 | -90.98 Mn |