$ONON

On Holding AG

CIK:0001858985|SEC Filings

Consolidated statements of income - CHF (SFr) SFr in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Consolidated Statements Of Income (Loss) [Line Items]
Net sales	SFr 3,014.0	SFr 2,318.3	SFr 1,792.1
Cost of sales	(1,120.3)	(912.6)	(724.8)
Gross profit	1,893.6	1,405.7	1,067.2
Selling, general and administrative expenses	(1,516.6)	(1,194.2)	(887.0)
Operating result	377.0	211.6	180.2
Financial income	30.9	23.5	11.5
Financial expenses	(29.6)	(23.1)	(11.3)
Foreign exchange gain / (loss)	(173.2)	67.7	(111.4)
Income before taxes	205.2	279.6	69.1
Income tax expense (benefit)	(1.5)	(37.4)	10.5
Net income	203.7	242.3	79.6
Class A
Consolidated Statements Of Income (Loss) [Line Items]
Net income	SFr 182.7	SFr 216.3	SFr 70.9
Earnings per share
Basic EPS (CHF) (in CHF per share)	SFr 0.62	SFr 0.75	SFr 0.25
Diluted EPS (CHF) (in CHF per share)	SFr 0.61	SFr 0.74	SFr 0.25
Class B
Consolidated Statements Of Income (Loss) [Line Items]
Net income	SFr 21.0	SFr 25.9	SFr 8.6
Earnings per share
Basic EPS (CHF) (in CHF per share)	SFr 0.06	SFr 0.07	SFr 0.02
Diluted EPS (CHF) (in CHF per share)	SFr 0.06	SFr 0.07	SFr 0.02

Consolidated statements of cash flows - CHF (SFr) SFr in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statement of cash flows [abstract]
Net income	SFr 203.7	SFr 242.3	SFr 79.6
Adjustments for:
Share-based compensation	66.6	57.5	27.3
Employee benefit expenses	4.0	5.2	(7.5)
Depreciation and amortization	127.4	104.6	64.9
Loss on disposal of assets and impairment	3.7	0.7	0.6
Interest income and expenses	(8.5)	(7.2)	(4.5)
Net exchange differences	165.6	(70.9)	102.9
Income taxes	1.5	37.4	(10.5)
Change in working capital	(187.7)	46.1	(101.2)
Trade receivables	(96.1)	(30.1)	(46.9)
Inventories	(82.4)	(27.8)	(10.0)
Trade payables	(9.2)	104.0	(44.3)
Change in other current assets / liabilities	25.0	95.7	93.4
Change in provisions	(7.8)	18.0	4.8
Interest received	30.1	22.5	11.0
Income taxes paid	(64.0)	(41.2)	(28.6)
Cash inflow from operating activities	359.5	510.6	232.1
Purchase of property, plant and equipment	(72.9)	(60.5)	(42.8)
Proceeds from disposal of tangible assets	0.0	0.1	0.0
Purchase of intangible assets	(5.7)	(4.5)	(4.4)
Cash (outflow) from investing activities	(78.6)	(64.9)	(47.1)
Payments of lease liabilities	(69.9)	(51.3)	(25.5)
Proceeds from issuance of shares	4.3	0.2	0.0
Proceeds on sale of treasury shares related to share-based compensation	8.6	10.9	10.1
Interest paid	(21.5)	(15.3)	(6.5)
Cash (outflow) from financing activities	(78.5)	(55.4)	(21.8)
Change in net cash and cash equivalents	202.2	390.4	163.2
Net cash and cash equivalents as of January 1	924.3	494.6	371.0
Net impact of foreign exchange rate differences	(106.7)	39.4	(39.6)
Net cash and cash equivalents at December 31	SFr 1,019.9	SFr 924.3	SFr 494.6

Consolidated balance sheets - CHF (SFr) SFr in Millions	Dec. 31, 2025	Dec. 31, 2024
Statement of financial position [abstract]
Cash and cash equivalents	SFr 1,019.9	SFr 924.3
Trade receivables	305.4	246.1
Inventories	419.8	419.2
Total other current financial assets	59.2	56.4
Other current operating assets	158.2	113.7
Current assets	1,962.4	1,759.7
Property, plant and equipment	148.8	127.2
Right-of-use assets	494.1	323.6
Intangible assets	54.2	58.3
Deferred tax assets	175.9	107.8
Non-current assets	873.0	617.0
Assets	2,835.4	2,376.7
Trade payables	154.8	166.5
Current lease liabilities	81.2	59.1
Other current financial liabilities	56.7	51.3
Other current operating liabilities	355.4	299.3
Current provisions	13.0	21.7
Income tax liabilities	63.2	62.5
Current liabilities	724.4	660.4
Employee benefit obligations	5.5	8.6
Non-current provisions	20.7	14.9
Non-current lease liabilities	440.3	288.5
Other non-current financial liabilities	2.8	1.7
Deferred tax liabilities	9.3	10.8
Non-current liabilities	478.6	324.5
Share capital	34.1	33.7
Treasury shares	(26.7)	(26.8)
Capital reserves	1,289.0	1,210.0
Other reserves	(46.6)	(4.0)
Retained earnings	382.6	178.9
Equity	1,632.4	1,391.8
Equity and liabilities	SFr 2,835.4	SFr 2,376.7