ONON financial statements
The full income statement, balance sheet, and cash-flow statement for On Holding AG (ONON), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 3.63B YoY+37.7% | 2.63B YoY+31.9% | 1.99B YoY+55.8% | 1.28B YoY+61.5% | 793M YoY+75.0% | |
2.28B YoY+42.7% | 1.60B YoY+34.4% | 1.19B YoY+65.6% | 717M YoY+52.4% | 471M YoY+91.2% | ||
| Research & development | 12.7M YoY+17.0% | 10.9M YoY+10.0% | 9.91M YoY+15.3% | 8.59M YoY+48.1% | 5.80M YoY+193.9% | |
| Operating income | 453M YoY+88.8% | 240M YoY+19.8% | 201M YoY+125.0% | 89.1M YoY+157.7% | -154M YoY-747.4% | |
| Interest expense | 35.6M YoY+35.8% | 26.2M YoY+108.5% | 12.6M YoY+87.6% | 6.70M YoY+70.2% | 3.94M YoY+310.8% | |
| Pre-tax income | 247M YoY-22.2% | 317M YoY+312.7% | 76.9M YoY-5.7% | 81.6M YoY+146.7% | -175M YoY-571.8% | |
| Income tax | 1.80M YoY-95.8% | 42.5M YoY+463.3% | -11.7M YoY-155.2% | 21.2M YoY+82.4% | 11.6M YoY+251.2% | |
| Net income to common | 245M YoY-10.9% | 275M YoY+210.5% | 88.6M YoY+46.6% | 60.4M YoY+132.5% | -186M YoY-535.6% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
2.48B YoY+27.3% | 1.95B YoY+42.2% | 1.37B YoY+20.3% | 1.14B YoY+7.7% | 1.06B YoY+229.6% | ||
3.58B YoY+36.2% | 2.63B YoY+38.8% | 1.89B YoY+26.6% | 1.50B YoY+10.5% | 1.35B YoY+211.7% | ||
| Total current liabilities | 915M YoY+25.2% | 730M YoY+101.1% | 363M YoY+38.3% | 263M YoY+17.0% | 224M YoY+129.0% | |
2.06B YoY+33.9% | 1.54B YoY+20.5% | 1.28B YoY+21.8% | 1.05B YoY+12.9% | 929M YoY+233.9% | ||
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash from operations | 432M YoY-25.4% | 580M YoY+124.4% | 258M YoY+208.6% | -238M YoY-1385.9% | 18.5M YoY+218.1% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 YoY-100.0% | 36.8M YoY+68.3% | 21.9M YoY+16.3% | 18.8M YoY+174.9% | |
| Common stock issued | 5.17M YoY+2177.9% | 227K | 0.00 | 0.00 YoY-100.0% | 109K YoY-99.9% | |
| Common stock repurchased | 241K YoY-47.0% | 454K YoY-49.0% | 890K YoY-46.9% | 1.68M YoY-93.3% | 24.9M | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 13.8B YoY-12.9% | 15.8B YoY+108.3% | 7.60B YoY+60.1% | 4.75B YoY-54.6% | 10.5B | |
| P/S | 3.8× YoY-36.8% | 6.0× YoY+1.3% | 5.9× YoY-0.9% | 6.0× YoY-54.6% | 13.2× | |
| P/B | 6.7× YoY-35.0% | 10.3× YoY+42.0% | 7.3× YoY+41.7% | 5.1× YoY-54.6% | 11.3× | |
| Source filing | 20-F | 20-F | 20-F | 20-F | 20-F |
About this data
Source: ONON's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all ONON filings on SEC EDGAR → Not investment advice.