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On Holding Ltd (ONON) — chart, structure and Closelooknet read

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Company snapshot — On Holding Ltd

ONON in five paragraphs: what it makes and sells, where it sits in the Closelooknet stack, who it is priced against, why we track it, what we watch. Research diary, not advice.

What it does
On Holding designs and sells performance running shoes, apparel and accessories under the On brand, based in Zurich, Switzerland. It reaches athletes through wholesale, its own stores, specialty and lifestyle retailers, and e-commerce across Europe, the Americas and Asia-Pacific.
Where it sits in the stack
On sits outside the Rubin AI build-out index; it holds a seat in HALO Growth 100, our growth index outside the megacaps, in the Destination Economy sleeve, where consumer surplus lands on premium experience and performance lifestyle brands rather than on necessities.
Who it is priced against
Closelooknet's peer group places it with Destination Economy names such as Ferrari, Deckers, Lululemon, Hermes, Birkenstock, Costco, Celsius and Liberty Media's Formula One stock, chosen for owned-distribution and premium-experience positioning; the market also compares it with Nike.
Why Closelooknet tracks it
On carries a HALO Growth 100 seat and a Closelooknet score across seven modules, where valuation reads as the strongest module and momentum as the weakest; the Midday 10 has quoted it twice, once after a post-earnings drop through its 50-day average and once as the shares stabilised just below that line.
What the diary watches
The diary watches whether the shares can hold and reclaim the 50-day average after the earnings-day drop, and whether the weak momentum reading starts to firm alongside the stronger valuation module.

On Holding Ltd (ONON) trades on US exchanges in Switzerland, classified under Consumer Cyclical. Constituent of HALO Growth 100.

The Closelooknet company score reads 58/100 composite (momentum 11, quality 68, valuation 60) across 7 modules — the full breakdown, chart structure and analog history load live above.

Written from the company’s public profile and Closelooknet’s own readings, 2026-09-17. Descriptive, refreshed with the registry; corrections welcome via the imprint. closelook.net is an investment research diary — market structure, index membership and scores are our own readings, not investment advice. Related: index compare · sector dispersion · scanner.

Signals for this name

Every Closelooknet reading that exists for ONON, from the same nightly bakes the boards use. Research diary readings, not advice.

The Street on this name 5 analyst actions on the wire · latest: price target by BMO Capital, 2026-09-24

The Street on this name

Analyst actions and the latest print for ONON from the Closelooknet wires — third-party opinions on the record, not our readings.

  • Price target BMO Capital — target 33 from 28 Target raised to $33 from $28 (+9.4% to spot) 2026-09-24
  • Price target Barclays — target 44 from 42 Target raised to $44 from $42 (+45.9% to spot) 2026-09-24
  • Price target BofA Securities — target 43 Target set to $43 (+58.4% to spot) 2026-09-17

5 actions on the analyst wire since 2026-08-13: 5 target changes. Analyst wire → · Earnings wire →

Who it is priced against HALO Growth 100 · Destination Economy · 8 names with week and year-to-date

Peer group

HALO Growth 100 · Destination Economy

Premium experience brands, owned-distribution luxury, performance lifestyle. Where consumer surplus parks itself when it has the choice.

Compared against ONON on the nightly bakes; the Peers tab ranks the cohort on the Closelooknet scores where it exists.

Versus its index HALO Growth 100 — the name, its sleeve and the index over day, week and month

Versus its index

The name against its Closelooknet index and its own sleeve — equal-weight, nightly closes.

HALO Growth 100 · as of 2026-09-24

DayWeekMonth3 months
ONON————
Destination Economy−0.5%+1.3%−9.6%—
HALO Growth 100−0.8%−0.5%−7.7%—

Against the index: on the week, on the month.

Returns from the index workers’ nightly closes; equal-weight sleeves. A relative reading from the research diary, not advice.

Dividends and capital return no distribution in twelve months

Dividends and capital return

What ONON pays out and buys back — distributions read from the price series, money terms from the filings.

  • Distributions No cash distribution recorded in the price series over the last three years
  • Share count −1.5% in FY2025 67 m USD of stock-based compensation in the year

Per-share amounts are derived from the adjusted price series in the listing currency, so dates sit within days of the ex-date; filing figures come from the fundamentals feed for the last reported fiscal year. An investment diary, not a recommendation.

How it trades on rate days beta 0.68 to TLT · on the worst bond days it held up better than the market

How it trades on rate days

How ONON has moved when long-dated Treasury yields rise — measured against TLT, the 20+ year Treasury fund.

  • Beta to long bonds, 1 year 0.68 — shows only a loose link to bond moves for every 1% move in TLT (20+ year Treasuries), On Holding Ltd moved 0.68% on average · correlation 0.13 · higher than 69% of US names
  • Beta, last 3 months 0.11 less rate-sensitive lately than over the year
  • On the 10 worst bond days −0.26% on average against −0.74% for the S&P 500 the 10 sessions of the past year in which TLT fell most, i.e. long yields rose most
  • Latest of those days +0.99% TLT −1.29% that day 2026-09-24

Daily total returns from the adjusted price series; a TLT down day is a day long yields rose. Beta = the average move of the name for a 1% move in TLT. Past sensitivity, not a forecast. An investment diary, not a recommendation.

Weather around the name 4 macro readings: Money Temperature, Factor regime, Sector × region …

The weather around this name

Macro readings that apply by membership — the regime, the factor tape, the sector cell, the funding backdrop.

  • Money Temperature Composite 60/100 · S&P 500 fund at 66, bullish alignedEight instruments scored on position, momentum, volume, volatility and fragility — the regime every name trades inside. Temperature lab → 2026-09-24
  • Factor regime Momentum leading — risk appetite buildingMomentum against low volatility (SPMO / SPLV): above its 50-day trend, 99th percentile of the window, +10.1% over 20 sessions. Factor regime → 2026-09-24
  • Sector × region Consumer discretionary in Europe: −2.5% week · −4.6% month · −0.0% quarter · +5.1% year (approximated)The Sector Engine cell this name lives in, from EXV5.XETRA+EXV7.XETRA+EXV8.XETRA+EXH2.XETRA; the 11 × 4 matrix shows where its sector is being bought and where it is being sold. Sector Engine → 2026-09-24
  • Sovereign pressure Index 0.75 · up 0.21 over 21 sessionsG7 long-end yields, 10s30s and the slope — the funding weather for every balance sheet on this site. Sovereign pressure → 2026-09-24

FAQ · from the current data · as of 2026-09-25

Quick answers

What is On Holding Ltd (ONON)?

On Holding Ltd trades as ONON on the US exchange (Switzerland) and is classified under Consumer Cyclical in the Closelooknet research universe, as of the registry build of 2026-09-25.

Is ONON in a Closelooknet index?

Yes — On Holding Ltd is a constituent of HALO Growth 100, as of 2026-09-25.

What is On Holding Ltd's Closelooknet composite score?

58 out of 100, with momentum 11, quality 68 and valuation 60 sub-scores, as of 2026-09-25. Scores are Closelooknet's own research readings, not ratings or investment advice.

Where does ONON trade against its moving averages?

Resizing — 41% off its high: 41% below its 52-week high, under its 200-day — a deeper resizing of the trend, not a shallow dip. As of 2026-09-23 — a technical state from the nightly Closelooknet bake, not advice. The Technical tab carries the full row.

What does On Holding Ltd do?

On Holding designs and sells performance running shoes, apparel and accessories under the On brand, based in Zurich, Switzerland. It reaches athletes through wholesale, its own stores, specialty and lifestyle retailers, and e-commerce across Europe, the Americas and Asia-Pacific. Closelooknet's peer group places it with Destination Economy names such as Ferrari, Deckers, Lululemon, Hermes, Birkenstock, Costco, Celsius and Liberty Media's Formula One stock, chosen for owned-distribution and premium-experience positioning; the market also compares it with Nike.

Where does On Holding Ltd sit in the AI build-out?

On sits outside the Rubin AI build-out index; it holds a seat in HALO Growth 100, our growth index outside the megacaps, in the Destination Economy sleeve, where consumer surplus lands on premium experience and performance lifestyle brands rather than on necessities. On carries a HALO Growth 100 seat and a Closelooknet score across seven modules, where valuation reads as the strongest module and momentum as the weakest; the Midday 10 has quoted it twice, once after a post-earnings drop through its 50-day average and once as the shares stabilised just below that line.

Does On Holding Ltd pay a dividend?

No cash distribution shows in On Holding Ltd’s price series over the last three years. The share count fell 1.5% over the fiscal year. The "Dividends and capital return" block on this page carries the lines.

How does On Holding Ltd trade when bond yields rise?

Over the past year On Holding Ltd had a beta of 0.68 to TLT, the long-dated Treasury fund — it shows only a loose link to bond moves, higher than 69% of US names. On the 10 sessions in which long bonds fell most it moved −0.26% on average, against −0.74% for the S&P 500. The "How it trades on rate days" block on this page carries the lines.

What has Wall Street done on On Holding Ltd recently?

The most recent analyst action on On Holding Ltd on the Closelooknet wire is a price target by BMO Capital on 2026-09-24 (target 33 from 28). 5 actions on the analyst wire since 2026-08-13: 5 target changes. Analyst actions are third-party opinions recorded by the wire, not Closelooknet readings. The “The Street on this name” block on this page lists the moves; the full feeds are the analyst wire and the earnings wire.

Where has Closelooknet written about On Holding Ltd?

On Holding Ltd appears in 2 Closelooknet pieces, most recently Midday 10: The referendum passes at midday — neoclouds vertical, semis re-bid, and the yen refuses to stand down (2026-08-12); Midday 10: Flat tape, crushed vol — the market has pre-decided CPI while the morning's printers get sorted (2026-08-11). What Closelooknet said most recently: The punished and paid printers of the last two sessions are settling rather than extending: ONON −0.4% holding just under 31, stabilising above 30 without a downgrade wave — the 'different class of verdict' branch not yet triggered; MNDY… (Midday 10, 2026-08-12). The "Mentioned on Closelooknet" block on this page lists the long reads, the reference entries and the dailies that name it.

What does this page show?

A live price chart with SMA overlays and drawing tools for ONON, performance metrics, index-membership context and the Closelooknet structure read — an investment research diary view, not investment advice.

Mentioned on Closelooknet 2 pieces · newest: Midday 10, “The referendum passes at midday — neoclouds vertical, semis re-bid, and the yen refuses to stand down” (2026-08-12)

Mentioned on Closelooknet

Where ONON appears in the diary — 2 pieces, newest first. Every link is our own writing.

Dailies

Related in the Closelooknet universe

same Closelooknet index seat first, then Footwear & Accessories, then Consumer Cyclical. Scored names rank on their Closelooknet score; names without one rank on trend state — above or below their 50- and 200-day averages — never on a score they do not carry.