ONON
On Holding Ltd
NYSE: ONON · CONSUMER CYCLICAL · FOOTWEAR & ACCESSORIES
$35.33
-0.28% today
Updated 2026-04-29
Market cap
$11.73B
P/E ratio
45.42
P/S ratio
3.89x
EPS (TTM)
$0.78
Dividend yield
—
52W range
$31 – $61
Volume
6.7M
On Holding Ltd (ONON) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $267.12M | $425.30M | $724.60M | $1.22B | $1.79B | $2.32B | $2.88B |
| Revenue growth (YoY) | — | +59.2% | +70.4% | +68.7% | +46.6% | +29.4% | +24.2% |
| Cost of revenue | $124.00M | $194.20M | $294.30M | $537.20M | $724.80M | $912.60M | $1.07B |
| Gross profit | $143.12M | $231.10M | $430.30M | $684.90M | $1.07B | $1.41B | $1.81B |
| Gross margin | 53.6% | 54.3% | 59.4% | 56.0% | 59.6% | 60.6% | 62.8% |
| R&D | — | — | — | — | $8.90M | — | — |
| SG&A | $56.82M | $115.90M | $321.90M | $233.10M | $286.60M | $461.10M | $1.52B |
| Operating income | $5.69M | $-17.10M | $-141.10M | $85.10M | $180.20M | $211.60M | $360.15M |
| Operating margin | 2.1% | -4.0% | -19.5% | 7.0% | 10.1% | 9.1% | 12.5% |
| EBITDA | $8.61M | $-12.00M | $-125.80M | $128.60M | $206.30M | $400.00M | $481.82M |
| EBITDA margin | 3.2% | -2.8% | -17.4% | 10.5% | 11.5% | 17.3% | 16.7% |
| EBIT | $3.27M | $-24.10M | $-157.20M | $82.20M | $179.80M | $295.40M | $360.15M |
| Interest expense | $629643.00 | $852299.00 | $3.54M | $6.19M | $10.76M | $23.81M | $28.27M |
| Income tax | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-1.47M | $-27.50M | $-170.20M | $57.70M | $79.60M | $242.30M | $194.54M |
| Net income growth (YoY) | — | -1766.9% | -518.9% | +133.9% | +38.0% | +204.4% | -19.7% |
| Profit margin | -0.6% | -6.5% | -23.5% | 4.7% | 4.4% | 10.5% | 6.8% |