On Holding AG (ONON) Return on Capital Employed (2021 - 2026)
On Holding AG (ONON) recorded quarterly Return on Capital Employed of 18.7% in Q1 2026, up 5.91% quarter-over-quarter from 17.66% in Q4 2025, and up 448.0% on a YoY basis from 3.41% in Q1 2025.
On Holding AG (ONON) Return on Capital Employed (2021 - 2026) Analysis & Trends
On Holding AG's Return on Capital Employed history runs 6 years deep, the most recent figure standing at 18.7% for Q1 2026.
- In Q1 2026, Return on Capital Employed rose 448.0% year-over-year to 18.7%; the TTM figure through Mar 2026 stood at 18.7% (up 448.0% YoY), while the FY2025 annual figure was 21.21%, up 511.0% from the prior year.
- Return on Capital Employed was 18.7% for Q1 2026 at On Holding AG, up from 17.66% in the prior quarter.
- In the past five years, Return on Capital Employed ranged from a high of 18.7% in Q1 2026 to a low of 12.26% in Q1 2022.
- Historically, Return on Capital Employed has averaged 9.34% across 5 years, with a median of 13.09% in 2024.
- The sharpest annual moves came in 2023 and 2024: Return on Capital Employed soared 2335 bps in 2023, then gained 2 bps in 2024.
- A 5-year view of Return on Capital Employed shows it stood at 7.02% in 2022, then surged by 88 bps to 13.23% in 2023, then rose by 0 bps to 13.25% in 2024, then soared by 33 bps to 17.66% in 2025, then rose by 6 bps to 18.7% in 2026.
- The last three Return on Capital Employed figures came in at 18.7% (Q1 2026), 17.66% (Q4 2025), and 17.85% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Birkenstock Holding | 102.63 Bn | 102.39 Bn | 390.51 Mn | 11.76% |
| 2 | Nike | 65.09 Bn | 57.03 Bn | 4.53 Bn | 41.55% |
| 3 | Deckers Outdoor | 16.02 Bn | 13.93 Bn | 1.17 Bn | 45.82% |
| 4 | Crocs | 6.13 Bn | 6.00 Bn | 522.95 Mn | 3.52% |
| 5 | Steven Madden | 3.14 Bn | 3.10 Bn | 357.42 Mn | 8.61% |
| 6 | Wolverine World Wide | 1.98 Bn | 1.79 Bn | 243.40 Mn | 12.55% |
| 7 | On Holding AG | 1.66 Bn | 264.30 Mn | 682.30 Mn | 18.70% |
| 8 | Forward Industries | 381.04 Mn | 355.65 Mn | 16.85 Mn | -50.36% |
| 9 | Designer Brands | 349.93 Mn | 299.82 Mn | 315.32 Mn | 5.39% |
| 10 | Weyco | 343.83 Mn | 246.40 Mn | 33.84 Mn | 2.56% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 18.70% |
| Dec 31, 2025 | 17.66% |
| Sep 30, 2025 | 17.85% |
| Jun 30, 2025 | 16.67% |
| Mar 31, 2025 | 14.22% |
| Dec 31, 2024 | 13.25% |
| Sep 30, 2024 | 13.09% |
| Jun 30, 2024 | 12.56% |
| Mar 31, 2024 | 13.20% |
| Dec 31, 2023 | 13.23% |
| Sep 30, 2023 | 12.18% |
| Jun 30, 2023 | 11.10% |
| Mar 31, 2023 | 11.09% |
| Dec 31, 2022 | 7.02% |
| Sep 30, 2022 | -9.17% |
| Jun 30, 2022 | -11.55% |
| Mar 31, 2022 | -12.26% |
| Dec 31, 2021 | -13.48% |