Everyone says On is the most obvious buy in 10 years. Would you buy it at 40× earnings? Link in bio
1 extracted signal · 1 resolved · 0 still active
Smart X CapitalIndependent analyst profile- Source published
- 04 Aug 2026, 02:01 UTC
- Recorded by Tahlil Plus
- 06 Aug 2026, 08:20 UTC
AI-generated source summary
On Holding AG (ONON) presents a potentially attractive investment opportunity despite its recent 30% price decline. The company has demonstrated strong revenue growth, quadrupling its revenue since 2021 and showing a 360% increase over four years, with revenues projected to reach $3.6 billion. Profitability is also robust, with net income projected to reach $246 million and free cash flow at $339 million, indicating a significant year-over-year growth of 80%. The gross margin stands strong at 64%, suggesting consumers are willing to pay a premium for ONON products. While the company has a solid safety profile with a low D/E ratio of 0.30 and a healthy current ratio of 3, its P/E ratio of 40 is higher than the industry average, suggesting the stock might be overvalued relative to its current earnings. However, the company operates in a competitive market against giants like Nike and Adidas, and faces potential headwinds from tariffs, with 90% of its footwear and 65% of its apparel being manufactured in Vietnam, which could incur a 20% tariff by 2026, potentially impacting revenue by $70 million. The stock is currently trading at $37.20, down 30% from its peak, and while its fundamental growth metrics are strong, the high P/E ratio and potential tariff impact warrant caution. The analysis suggests a potential for a bullish reversal from the current price towards a target of $45.00, with a failure bound at $30.00, which would invalidate the bullish thesis.
AI-generated summary based on the source content.
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