On Holding Appoints Frank Sluis as CFO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 28 2026
0mins
Should l Buy ONON?
On Holding announced that Frank Sluis will join the company as CFO, effective May 1. Most recently, Frank served as CFO for Europe and Indonesia at Ahold Delhaize. Frank succeeds Martin Hoffmann, who took on an expanded role as sole CEO last year, while continuing his CFO responsibilities. Martin will continue to oversee the finance organization until Frank's start date to ensure a seamless handover.
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Analyst Views on ONON
Wall Street analysts forecast ONON stock price to rise
21 Analyst Rating
18 Buy
2 Hold
1 Sell
Strong Buy
Current: 46.480
Low
30.00
Averages
60.79
High
85.00
Current: 46.480
Low
30.00
Averages
60.79
High
85.00
About ONON
On Holding AG is a Switzerland-based company active in athletic sports accesories industry. The Company provides footwear and sports apparel and is engaged in developing and distributing performance sports products, through independent retailers and global distributors. The Company sells its products trough the internet and its own stores.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Estimate Revision Trends: In the last three months, EPS estimates have seen two upward revisions and two downward adjustments, while revenue estimates experienced five upward revisions and two downward adjustments, indicating mixed analyst sentiment that could influence investor decisions.
- Competitive Landscape: To tackle high labor costs and tariffs, On Holding has implemented robotic technology in its plants, which not only reduces operational costs but also strengthens its competitive position against giants like Nike and Adidas.
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- Celsius's Market Position: Celsius holds a 20% market share in the U.S. energy drink sector and has established a 99.5% all-commodity volume through its partnership with PepsiCo, creating a distribution moat that is difficult for competitors to replicate.
- e.l.f. Beauty's Brand Advantage: e.l.f. Beauty has enhanced its cultural relevance and premium positioning through the acquisition of the Rhode brand, showcasing its strong appeal among younger consumers in the beauty market.
- Long-Term Investment Confidence: All three companies exhibit robust growth potential and market adaptability, making them suitable for long-term holding to navigate future economic fluctuations and market changes.
See More
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- Earnings Announcement: On Holding is set to announce its Q4 earnings on March 3 before market open, with consensus EPS estimate at $0.28, reflecting a 15.2% year-over-year decline, while revenue is expected to reach $946.37 million, indicating a robust 56.0% year-over-year growth, which could significantly impact the company's stock performance.
- Historical Performance: Over the past two years, On Holding has surpassed EPS estimates 75% of the time and revenue estimates 100% of the time, demonstrating the company's financial stability and fostering market confidence in its operations.
- Estimate Revision Trends: In the last three months, EPS estimates have seen two upward revisions and two downward adjustments, while revenue estimates experienced five upward revisions and two downward adjustments, indicating mixed analyst sentiment that could influence investor decisions.
- Competitive Landscape: To tackle high labor costs and tariffs, On Holding has implemented robotic technology in its plants, which not only reduces operational costs but also strengthens its competitive position against giants like Nike and Adidas.
See More
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- Significant Revenue Growth: On Holding's Q4 non-GAAP EPS reached CHF 0.25 with revenue of CHF 743.8 million, reflecting a robust year-over-year growth of 22.6%, indicating strong market performance and sustained growth potential.
- Adjusted EBITDA Increase: Adjusted EBITDA rose by 31.8% to CHF 131 million, with the EBITDA margin improving from 16.4% to 17.6%, showcasing the company's success in cost control and operational efficiency.
- Strong Sales Channel Performance: Direct-to-consumer net sales increased by 21.7% to CHF 360.6 million, while wholesale net sales grew by 23.4% to CHF 383.2 million, demonstrating the effectiveness of the company's diversified sales strategy.
- Optimistic Future Growth Outlook: The company expects net sales to grow by at least 23% in 2026, implying reported net sales of at least CHF 3.44 billion at current exchange rates, reflecting strong confidence and strategic planning for future growth.
See More
On Holding Forecasts Gross Margin Increase for FY 2026
- Gross Margin Forecast: On Holding anticipates a gross margin of at least 63% for FY 2026, up from 62.8% in 2025, indicating effective cost management and pricing strategies that are expected to enhance profitability further.
- Sales Performance Exceeds Expectations: The company reported a 22.6% year-over-year increase in fourth-quarter net sales to CHF 743.8 million, surpassing Wall Street's expectations of CHF 727.02 million, demonstrating strong market demand and brand appeal that is likely to drive future sales growth.
- Middle East Expansion: Despite geopolitical challenges, CEO Hoffmann stated that the expansion in the Middle East remains on track, highlighting the company's focus on emerging markets and the potential for increased market share through partnerships with distributors.
- Innovative Production Method: The launch of the
See More
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- Sales Milestone: On achieved annual sales exceeding CHF 3 billion for the first time in 2025, reaching CHF 3.014 billion, reflecting a robust 30% year-over-year growth that underscores its strong momentum in the global sportswear market.
- Profitability Gains: The gross profit margin expanded to 62.8% and adjusted EBITDA margin reached 18.8% in 2025, demonstrating the company's success in operational efficiencies and premium brand positioning, which further solidifies its market leadership.
- Regional Market Performance: The Asia-Pacific region surpassed CHF 500 million in annual sales, growing by 96.4%, indicating exceptional demand for the On brand and significantly contributing to overall performance improvements.
- Optimistic Outlook: On expects net sales to grow by at least 23% in 2026, maintaining a gross profit margin of over 63%, reflecting the company's confidence in future growth and commitment to ongoing investments.
See More
Market Update: Focus on Retail Earnings and Oil Prices
- Retail Earnings: Target (TGT) is set to announce its fourth-quarter results on Tuesday, where despite a decline in store traffic, digital sales have helped mitigate some pressure, and investors will closely watch for any guidance commentary to assess the effectiveness of the company's turnaround efforts.
- Ross Exceeds Expectations: Ross (ROST) is expected to surpass revenue estimates, driven by consumers trading down and seeking discounts on recognizable brands, reflecting the economic environment's impact on retail behavior.
- Oil Price Volatility: Oil prices are moving sharply amid concerns over regional stability, with investors monitoring the potential impact on shipping through the Strait of Hormuz, a critical artery for global crude flows.
- Fed Officials Speak: Multiple Federal Reserve presidents will speak on Tuesday, with markets looking for signals regarding the path of interest rates, especially in light of recent geopolitical tensions and mixed economic data, as investors seek clarity on future rate policies.
See More
Three Consumer Goods Companies for Long-Term Investment
- On Holding's Growth Potential: On Holding achieved a 34% year-over-year net sales growth in 2025 and aims to double its net sales by 2026, demonstrating strong competitiveness and innovation in the athletic footwear market.
- Celsius's Market Position: Celsius holds a 20% market share in the U.S. energy drink sector and has established a 99.5% all-commodity volume through its partnership with PepsiCo, creating a distribution moat that is difficult for competitors to replicate.
- e.l.f. Beauty's Brand Advantage: e.l.f. Beauty has enhanced its cultural relevance and premium positioning through the acquisition of the Rhode brand, showcasing its strong appeal among younger consumers in the beauty market.
- Long-Term Investment Confidence: All three companies exhibit robust growth potential and market adaptability, making them suitable for long-term holding to navigate future economic fluctuations and market changes.
See More
