On Holding stock costs EUR 28.73 as Q2 revenue reaches CHF 850.30 million

Published on 10/27/2026 at 12:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

On Holding posted 65.40 percent gross margin in Q2, up from 61.50 percent. On Holding stock costs EUR 28.73 on October 27, 2026.

Growth and valuation markers

On Holding set a 2029 sales target of CHF 5.60 billion on October 1, 2026.
Second-quarter gross margin reached 65.40 percent, compared with 61.50 percent a year earlier.
On Holding stock trades at EUR 28.73 at 12:39 p.m. CEST at Lang & Schwarz on October 27, 2026.

ONON, CH1134540470, Illustration mit AI erstellt.

On Holding (ISIN CH1134540470) stock costs EUR 28.73 at Lang & Schwarz on October 27, 2026, at 12:39 p.m. CEST. The sportswear company is entering its next reporting phase after second-quarter revenue reached CHF 850.30 million, according to Yahoo Finance.

Growth targets raise the stakes

On presented a 2029 strategy on October 1, 2026, targeting net sales of at least CHF 5.60 billion, annual sales growth in the high teens on a constant-currency basis, and a gross margin of at least 65 percent. World Footwear reported that the company also targeted an adjusted EBITDA margin of at least 22 percent by 2029.

The latest operating figures show why margin quality matters. In the second quarter of 2026, gross margin reached 65.40 percent, compared with 61.50 percent in the year-earlier quarter, while direct-to-consumer sales rose 34.30 percent in constant-currency terms, according to Yahoo Finance.

What did analysts change?

Raymond James raised its price target from USD 38.00 to USD 42.00 on October 16, 2026, while keeping an Outperform rating, as reported by Markets Insider. The target change places greater emphasis on whether On can sustain premium pricing while expanding wholesale, direct-to-consumer sales, apparel, and newer categories.

Three dated developments

On reported CHF 850.30 million of second-quarter revenue on August 11, 2026. It set a CHF 5.60 billion minimum 2029 sales target on October 1, 2026. Raymond James then lifted its target to USD 42.00 from USD 38.00 on October 16, 2026.

Next reporting date

On Holding's next earnings date is listed as November 17, 2026, by InvestBamboo.

Price remains the daily anchor

The current market question is whether On can convert its sales expansion into durable profitability. The second-quarter gross margin of 65.40 percent provides a concrete benchmark for the next results cycle.

On Holding was trading at EUR 28.73 at Lang & Schwarz on October 27, 2026, at 12:39 p.m. CEST. The further course of trading is shown by the continuously updated real-time quote of On Holding stock.