boothcheck doesn't label ONON overvalued or undervalued, and it doesn't publish a fair value. It shows what the price assumes instead. At today's price, ONON is priced for today's economics sustained for about 12 years, and an operating margin near 9.1% versus the 10.0% it earns today. Asset, earnings-power and peer-multiple models all land far below the price; ONLY the growth-DCF reaches it. The bet is durable compounding the static frames structurally cannot price (a moat/durability premium). The more the price assumes beyond what On Holding AG has actually delivered, the more has to go right to justify it. Whether that bar is too high is your call, and the full bull and bear cases are in the report.
Derived from On Holding AG's SEC EDGAR filings via a reverse-DCF inversion. Last analyzed June 27, 2026.
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.