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
DateValue
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%