On Holding stock gained 3.34 percent as buyback plans emerge

Published on 10/06/2026 at 09:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

On Holding stock closed at USD 31.88 on October 5 after a 3.34 percent gain. Q2 revenue reached CHF 850.3 million and margins expanded to 65.4 percent.

ONON, CH1134540470, Illustration mit AI erstellt.

On Holding stock (ISIN CH1134540470) closed at USD 31.88 on the NYSE on October 5, 2026, gaining 3.34 percent for the session. The move followed the companys September 22 investor-day plan for a USD 1 billion share repurchase program and new 2029 financial ambitions, as MarketScreener reported on September 22, 2026.

Buyback meets long-term targets

On Holding authorized repurchases of up to USD 1 billion of Class A ordinary shares through the end of December 2029. The company also set a target of at least CHF 5.6 billion in 2029 net sales, a gross margin of at least 65.0 percent and an adjusted EBITDA margin of at least 22 percent, according to MarketScreener.

The 2029 plan calls for high-teens constant-currency net sales growth and an adjusted EBITDA compound annual growth rate above 20 percent. For fiscal 2026, management reiterated low-20 percent constant-currency sales growth and adjusted EBITDA margin guidance of 19.5 percent to 20.0 percent, excluding tariff refunds, the same release said.

Q2 margin reaches 65.4 percent

On Holding reported CHF 850.3 million in Q2 2026 net sales, up 13.5 percent year over year, while net income reached CHF 105.0 million versus a CHF 40.9 million net loss in Q2 2025, according to Yahoo Finance.

Gross profit rose to CHF 555.7 million and gross margin expanded to 65.4 percent from 61.5 percent a year earlier, while revenue growth reached 21.6 percent on a constant-currency basis, Nasdaq reported on September 10, 2026. The contrast matters because the margin improvement arrived alongside higher U.S. import tariffs and a stronger direct-to-consumer mix.

Analysts see upside in consensus

The published consensus was Buy from 31 analysts, with an average target of CHF 35.25, according to MarketScreener. The target is stated in Swiss francs, while the primary NYSE quotation is in U.S. dollars, so the two figures do not provide a direct percentage comparison.

On Holding stock remained 37.6 percent below its 52-week high of USD 51.08 on October 5, while its 52-week low was USD 26.36. The USD 10.6 billion market capitalization places the investor-day targets against a company still trading well below its yearly peak.