WallStSmart

Designer Brands Inc (DBI)vsOn Holding Ltd (ONON)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

On Holding Ltd generates 11% more annual revenue ($3.22B vs $2.89B). ONON leads profitability with a 12.3% profit margin vs 0.6%. ONON appears more attractively valued with a PEG of 0.45. ONON earns a higher WallStSmart Score of 70/100 (B).

DBI

Buy

56

out of 100

Grade: C

Growth: 4.7Profit: 4.5Value: 6.7Quality: 4.5
Piotroski: 5/9Altman Z: 1.79

ONON

Strong Buy

70

out of 100

Grade: B

Growth: 8.7Profit: 7.0Value: 7.3Quality: 8.0
Piotroski: 5/9Altman Z: 2.80
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

DBIUndervalued (+76.3%)

Margin of Safety

+76.3%

Fair Value

$28.01

Current Price

$5.88

$22.13 discount

UndervaluedFair: $28.01Overvalued
ONONUndervalued (+9.8%)

Margin of Safety

+9.8%

Fair Value

$50.24

Current Price

$27.41

$22.83 discount

UndervaluedFair: $50.24Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

DBI2 strengths · Avg: 9.0/10
Price/BookValuation
1.0x10/10

Reasonable price relative to book value

EPS GrowthGrowth
47.6%8/10

Earnings expanding 47.6% YoY

ONON4 strengths · Avg: 9.5/10
PEG RatioValuation
0.4510/10

Growing faster than its price suggests

EPS GrowthGrowth
81.1%10/10

Earnings expanding 81.1% YoY

Return on EquityProfitability
20.8%9/10

Every $100 of equity generates 21 in profit

Debt/EquityHealth
0.299/10

Conservative balance sheet, low leverage

Areas to Watch

DBI4 concerns · Avg: 3.5/10
PEG RatioValuation
2.344/10

Expensive relative to growth rate

Altman Z-ScoreHealth
1.794/10

Distress zone — elevated risk

Market CapQuality
$300.61M3/10

Smaller company, higher risk/reward

Profit MarginProfitability
0.6%3/10

0.6% margin — thin

ONON0 concerns · Avg: 0/10

No major concerns identified

Comparative Analysis Report

WallStSmart Research

Bull Case : DBI

The strongest argument for DBI centers on Price/Book, EPS Growth.

Bull Case : ONON

The strongest argument for ONON centers on PEG Ratio, EPS Growth, Return on Equity. Revenue growth of 13.5% demonstrates continued momentum. PEG of 0.45 suggests the stock is reasonably priced for its growth.

Bear Case : DBI

The primary concerns for DBI are PEG Ratio, Altman Z-Score, Market Cap. Debt-to-equity of 4.02 is elevated, increasing financial risk. Thin 0.6% margins leave little buffer for downturns.

Bear Case : ONON

No major red flags identified for ONON, but monitor valuation.

Key Dynamics to Monitor

ONON carries more volatility with a beta of 2.08 — expect wider price swings.

ONON is growing revenue faster at 13.5% — sustainability is the question.

ONON generates stronger free cash flow (201M), providing more financial flexibility.

Monitor FOOTWEAR & ACCESSORIES industry trends, competitive dynamics, and regulatory changes.

Bottom Line

ONON scores higher overall (70/100 vs 56/100) and 13.5% revenue growth. DBI offers better value entry with a 76.3% margin of safety. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Designer Brands Inc

CONSUMER CYCLICAL · FOOTWEAR & ACCESSORIES · USA

Designer Brands Inc. designs, manufactures and retails women's, men's and children's footwear and accessories primarily in North America. The company is headquartered in Columbus, Ohio.

On Holding Ltd

CONSUMER CYCLICAL · FOOTWEAR & ACCESSORIES · USA

On Holding AG develops and distributes sports products worldwide. The company is headquartered in Zurich, Switzerland.

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