On Holding AG (ONON) financial statements: income statement, balance sheet and cash flow
On Holding AG's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), On Holding AG reported revenue of $3.0B (+30.0% year on year) and net income of $203.7M (-15.9% year on year).
Income statement
On Holding AG income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net sales
$3.0B
$2.3B
$1.8B
$1.2B
Cost of sales
($1.1B)
($912.6M)
($724.8M)
($537.2M)
Gross profit
$1.9B
$1.4B
$1.1B
$684.9M
Selling, general and administrative expenses
($1.5B)
($1.2B)
($887.0M)
($599.8M)
Operating result
$377.0M
$211.6M
$180.2M
$85.1M
Financial income
$30.9M
$23.5M
$11.5M
$5.7M
Financial expenses
($29.6M)
($23.1M)
($11.3M)
($6.4M)
Foreign exchange gain / (loss)
($173.2M)
$67.7M
($111.4M)
($6.5M)
Income before taxes
$205.2M
$279.6M
$69.1M
$77.9M
Income tax expense (benefit)
($1.5M)
($37.4M)
$10.5M
($20.2M)
Net income
$203.7M
$242.3M
$79.6M
$57.7M
Basic EPS (CHF) (in CHF per share)
$0.68
$0.82
$0.27
$0.20
Diluted EPS (CHF) (in CHF per share)
$0.67
$0.81
$0.27
$0.20
On Holding AG income statement, quarters
Line item
Jun 30, 2026 · YTD
Jun 30, 2025 · YTD
Jun 30, 2024 · YTD
Jun 30, 2023 · YTD
Net sales
$1.7B
$1.5B
$1.1B
$864.5M
Cost of sales
($592.2M)
($579.7M)
($432.3M)
($355.1M)
Gross profit
$1.1B
$896.1M
$643.6M
$509.4M
Selling, general and administrative expenses
($853.2M)
($726.3M)
($557.7M)
($427.7M)
Operating result
$236.9M
$169.8M
$85.8M
$81.7M
Financial income
$18.3M
$14.8M
$11.2M
$6.4M
Financial expenses
($16.3M)
($13.6M)
($10.8M)
($3.6M)
Foreign exchange gain / (loss)
$2.9M
($154.4M)
$72.3M
—
Income / (loss) before taxes
$241.8M
$16.6M
$158.5M
$44.8M
Income tax benefit / (expense)
($33.5M)
($800.0K)
($36.3M)
$2.9M
Net income / (loss)
$208.3M
$15.8M
$122.2M
$47.7M
Basic EPS (CHF) (in CHF per share)
$0.69
$0.05
$0.42
$0.16
Diluted EPS (CHF) (in CHF per share)
$0.68
$0.05
$0.41
$0.16
Balance sheet
On Holding AG balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$1.0B
$924.3M
$494.6M
$371.0M
Trade receivables
$305.4M
$246.1M
$204.8M
$174.6M
Inventories
$419.8M
$419.2M
$356.5M
$395.6M
Total other current financial assets
$59.2M
$56.4M
$34.2M
$33.2M
Other current operating assets
$158.2M
$113.7M
$61.2M
$77.0M
Current assets
$2.0B
$1.8B
$1.2B
$1.1B
Property, plant and equipment
$148.8M
$127.2M
$93.6M
$77.2M
Right-of-use assets
$494.1M
$323.6M
$214.0M
$151.6M
Intangible assets
$54.2M
$58.3M
$64.6M
$70.3M
Deferred tax assets
$175.9M
$107.8M
$69.5M
$31.7M
Non-current assets
$873.0M
$617.0M
$441.7M
$330.9M
Assets
$2.8B
$2.4B
$1.6B
$1.4B
Trade payables
$154.8M
$166.5M
$65.1M
$111.0M
Current lease liabilities
$81.2M
$59.1M
—
—
Other current financial liabilities
$56.7M
$51.3M
$53.4M
$31.2M
Other current operating liabilities
$355.4M
$299.3M
$156.4M
$81.7M
Current provisions
$13.0M
$21.7M
$7.1M
$5.0M
Income tax liabilities
$63.2M
$62.5M
$23.5M
$13.9M
Current liabilities
$724.4M
$660.4M
$305.6M
$242.7M
Employee benefit obligations
$5.5M
$8.6M
$2.2M
$6.3M
Non-current provisions
$20.7M
$14.9M
$10.0M
$7.2M
Non-current lease liabilities
$440.3M
$288.5M
—
—
Other non-current financial liabilities
$2.8M
$1.7M
$190.3M
$138.8M
Deferred tax liabilities
$9.3M
$10.8M
$10.5M
$17.9M
Non-current liabilities
$478.6M
$324.5M
$212.9M
$170.2M
Share capital
$34.1M
$33.7M
$33.5M
$33.5M
Treasury shares
-26.7M
-26.8M
-26.7M
-26.1M
Capital reserves
$1.3B
$1.2B
$1.1B
$1.1B
Other reserves
($46.6M)
($4.0M)
($9.8M)
$0
Retained earnings
$382.6M
$178.9M
($63.3M)
($142.9M)
Equity
$1.6B
$1.4B
$1.1B
$969.5M
Equity and liabilities
$2.8B
$2.4B
$1.6B
$1.4B
On Holding AG balance sheet, quarters
Line item
Jun 30, 2026
Jun 30, 2025
Jun 30, 2024
Jun 30, 2023
Cash and cash equivalents
$1.2B
$846.6M
$652.4M
$337.1M
Trade receivables
$374.0M
$333.8M
$314.0M
$252.7M
Inventories
$472.9M
$360.4M
$401.3M
$435.9M
Other current financial assets
$78.1M
$51.8M
$38.2M
$43.1M
Other current operating assets
$162.4M
$139.3M
$95.5M
$86.8M
Current assets
$2.3B
$1.7B
$1.5B
$1.2B
Property, plant and equipment
$175.5M
$127.2M
$111.7M
$84.3M
Right-of-use assets
$530.7M
$476.6M
$319.1M
$152.9M
Intangible assets
$55.8M
$55.3M
$61.7M
$67.4M
Deferred tax assets
$187.8M
$152.5M
$51.7M
$76.9M
Non-current assets
$949.9M
$811.7M
$544.3M
$381.5M
Assets
$3.2B
$2.5B
$2.0B
$1.5B
Trade payables
$211.0M
$160.7M
$148.2M
$90.0M
Current lease liabilities
$87.9M
$70.9M
—
—
Other current financial liabilities
$46.3M
$52.8M
$76.4M
$33.7M
Other current operating liabilities
$371.3M
$320.9M
$249.9M
$159.8M
Current provisions
$12.0M
$16.9M
$16.8M
$8.6M
Income tax liabilities
$81.4M
$63.6M
$12.9M
$37.0M
Current liabilities
$810.0M
$685.9M
$504.1M
$329.1M
Employee benefit obligations
$8.1M
$7.0M
$1.6M
$5.8M
Non-current provisions
$27.6M
$17.4M
$11.4M
$8.1M
Non-current lease liabilities
$474.6M
$426.9M
—
—
Other non-current financial liabilities
$5.6M
$700.0K
$288.1M
$140.9M
Deferred tax liabilities
$5.5M
$8.8M
$9.7M
$26.6M
Non-current liabilities
$521.5M
$460.7M
$310.8M
$181.4M
Share capital
$34.1M
$33.7M
$33.5M
$33.5M
Treasury shares
-26.4M
-26.6M
-26.7M
-26.4M
Capital reserves
$1.3B
$1.2B
$1.2B
$1.1B
Other reserves
($12.0M)
($47.6M)
($4.4M)
($3.7M)
Retained earnings
$590.9M
$194.7M
$58.9M
($95.2M)
Equity
$1.9B
$1.4B
$1.2B
$1.0B
Equity and liabilities
$3.2B
$2.5B
$2.0B
$1.5B
Cash flow statement
On Holding AG cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$203.7M
$242.3M
$79.6M
$57.7M
Share-based compensation
$66.6M
$57.5M
$27.3M
$38.3M
Employee benefit expenses
$4.0M
$5.2M
($7.5M)
$4.8M
Depreciation and amortization
$127.4M
$104.6M
$64.9M
$46.4M
Loss on disposal of assets and impairment
$3.7M
$700.0K
$600.0K
$900.0K
Interest income and expenses
($8.5M)
($7.2M)
($4.5M)
($800.0K)
Net exchange differences
$165.6M
($70.9M)
$102.9M
($8.3M)
Income taxes
$1.5M
$37.4M
($10.5M)
$20.2M
Change in working capital
($187.7M)
$46.1M
($101.2M)
($285.8M)
Trade receivables
($96.1M)
($30.1M)
($46.9M)
($78.6M)
Inventories
($82.4M)
($27.8M)
($10.0M)
($273.0M)
Trade payables
($9.2M)
$104.0M
($44.3M)
$65.8M
Change in other current assets / liabilities
$25.0M
$95.7M
$93.4M
($67.6M)
Change in provisions
($7.8M)
$18.0M
$4.8M
($7.4M)
Interest received
$30.1M
$22.5M
$11.0M
$5.6M
Income taxes paid
($64.0M)
($41.2M)
($28.6M)
($31.0M)
Cash inflow from operating activities
$359.5M
$510.6M
$232.1M
($227.0M)
Purchase of property, plant and equipment
($72.9M)
($60.5M)
($42.8M)
($60.3M)
Proceeds from disposal of tangible assets
$0
$100.0K
—
—
Purchase of intangible assets
($5.7M)
($4.5M)
($4.4M)
($22.7M)
Cash (outflow) from investing activities
($78.6M)
($64.9M)
($47.1M)
($82.9M)
Payments of lease liabilities
($69.9M)
($51.3M)
($25.5M)
($15.4M)
Proceeds from issuance of shares
4.3M
200.0K
0
0
Proceeds on sale of treasury shares related to share-based compensation
8.6M
10.9M
10.1M
26.4M
Interest paid
($21.5M)
($15.3M)
($6.5M)
($4.7M)
Cash (outflow) from financing activities
($78.5M)
($55.4M)
($21.8M)
$6.3M
Change in net cash and cash equivalents
$202.2M
$390.4M
$163.2M
($303.6M)
Net cash and cash equivalents as of January 1
$924.3M
$494.6M
$371.0M
$653.1M
Net impact of foreign exchange rate differences
($106.7M)
$39.4M
($39.6M)
$21.5M
Net cash and cash equivalents at December 31
$1.0B
$924.3M
$494.6M
$371.0M
On Holding AG cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Jun 30, 2025 · YTD
Jun 30, 2024 · YTD
Jun 30, 2023 · YTD
Net income
$208.3M
$15.8M
$122.2M
$47.7M
Share-based compensation
$30.9M
$25.2M
$22.9M
$8.5M
Employee benefit expenses
$2.0M
$1.8M
$900.0K
($1.7M)
Depreciation and amortization
$72.1M
$60.7M
$48.5M
$28.0M
Loss on disposal of assets
$100.0K
$200.0K
$0
$400.0K
Interest income and expenses
($4.8M)
($4.6M)
($3.6M)
($3.8M)
Net exchange differences
($6.8M)
$159.2M
($61.3M)
$35.3M
Income taxes
$33.5M
$800.0K
$36.3M
($2.9M)
Change in working capital
($49.5M)
($144.1M)
($32.2M)
($164.6M)
Trade receivables
($61.3M)
($122.7M)
($98.0M)
($84.3M)
Inventories
($37.4M)
($17.8M)
($16.8M)
($60.0M)
Trade payables
$49.2M
($3.5M)
$82.7M
($20.3M)
Change in other current assets / liabilities
($9.7M)
$10.6M
$57.3M
$57.2M
Change in provisions
$1.8M
($4.6M)
$10.5M
$4.7M
Interest received
$17.3M
$14.5M
$10.9M
$6.1M
Income taxes paid
($40.1M)
($46.5M)
($28.9M)
($11.6M)
Cash inflow from operating activities
$255.0M
$89.1M
$183.5M
$3.3M
Purchase of property, plant and equipment
($41.9M)
($27.3M)
($23.7M)
($19.0M)
Proceeds from disposal of tangible assets
$0
$100.0K
—
—
Purchase of intangible assets
($5.3M)
($2.2M)
($2.3M)
($2.0M)
Cash (outflow) from investing activities
($47.2M)
($29.4M)
($26.0M)
($21.0M)
Payments of lease liabilities
($35.8M)
($34.7M)
($23.7M)
($10.2M)
Proceeds on sale of treasury shares related to share-based compensation