On makes high-performance running shoes and apparel, known for its CloudTec cushioning, sold globally through stores and online.
Revenue hit CHF 2.88B in 2025 with a 64.82% gross margin; net margin was 12.31%, showing strong profitability from premium pricing.
Brand loyalty and patented tech create a solid moat, but Nike and Adidas are aggressively pushing into performance running, intensifying competition.
Five-factor rating
Hold (sector percentile 48) — value B-, growth A, profitability B+, momentum D-, revisions C-. Updated daily, sector-relative, identical for every user.
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@mattjmcclintock · Matt McClintock · 16 mentions · 8.8K followers
