WallStSmart

On Holding Ltd (ONON)vsRocky Brands Inc (RCKY)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

On Holding Ltd generates 534% more annual revenue ($3.12B vs $492.30M). ONON leads profitability with a 8.0% profit margin vs 3.8%. ONON appears more attractively valued with a PEG of 0.72. ONON earns a higher WallStSmart Score of 65/100 (B-).

ONON

Strong Buy

65

out of 100

Grade: B-

Growth: 8.7Profit: 6.5Value: 4.7Quality: 7.5
Piotroski: 5/9Altman Z: 2.96

RCKY

Buy

50

out of 100

Grade: C-

Growth: 3.3Profit: 4.5Value: 5.3Quality: 8.0
Piotroski: 6/9Altman Z: 2.89
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

ONONSignificantly Overvalued (-25.6%)

Margin of Safety

-25.6%

Fair Value

$36.05

Current Price

$37.08

$1.03 premium

UndervaluedFair: $36.05Overvalued
RCKYSignificantly Overvalued (-42.0%)

Margin of Safety

-42.0%

Fair Value

$23.11

Current Price

$37.45

$14.34 premium

UndervaluedFair: $23.11Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

ONON2 strengths · Avg: 9.0/10
EPS GrowthGrowth
81.1%10/10

Earnings expanding 81.1% YoY

PEG RatioValuation
0.728/10

Growing faster than its price suggests

RCKY2 strengths · Avg: 9.0/10
Price/BookValuation
1.1x10/10

Reasonable price relative to book value

P/E RatioValuation
15.6x8/10

Attractively priced relative to earnings

Areas to Watch

ONON1 concerns · Avg: 2.0/10
P/E RatioValuation
40.6x2/10

Premium valuation, high expectations priced in

RCKY4 concerns · Avg: 3.0/10
Market CapQuality
$290.12M3/10

Smaller company, higher risk/reward

Return on EquityProfitability
7.4%3/10

ROE of 7.4% — below average capital efficiency

Profit MarginProfitability
3.8%3/10

3.8% margin — thin

Operating MarginProfitability
2.9%3/10

Operating margin of 2.9%

Comparative Analysis Report

WallStSmart Research

Bull Case : ONON

The strongest argument for ONON centers on EPS Growth, PEG Ratio. Revenue growth of 14.5% demonstrates continued momentum. PEG of 0.72 suggests the stock is reasonably priced for its growth.

Bull Case : RCKY

The strongest argument for RCKY centers on Price/Book, P/E Ratio. PEG of 1.17 suggests the stock is reasonably priced for its growth.

Bear Case : ONON

The primary concerns for ONON are P/E Ratio. A P/E of 40.6x leaves little room for execution misses.

Bear Case : RCKY

The primary concerns for RCKY are Market Cap, Return on Equity, Profit Margin. Thin 3.8% margins leave little buffer for downturns.

Key Dynamics to Monitor

RCKY carries more volatility with a beta of 2.39 — expect wider price swings.

ONON is growing revenue faster at 14.5% — sustainability is the question.

ONON generates stronger free cash flow (7M), providing more financial flexibility.

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

Bottom Line

ONON scores higher overall (65/100 vs 50/100) and 14.5% revenue growth. 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.

On Holding Ltd

CONSUMER CYCLICAL · FOOTWEAR & ACCESSORIES · USA

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

Rocky Brands Inc

CONSUMER CYCLICAL · FOOTWEAR & ACCESSORIES · USA

Rocky Brands, Inc. designs, manufactures and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh and Michelin brands licensed in the United States, Canada and internationally. The company is headquartered in Nelsonville, Ohio.

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