Zacks upgrades On Holding stock to Hold. Q2 sales reached CHF 850.30 million

Published on 10/15/2026 at 12:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

On Holding stock costs EUR 31.41 on October 15, 2026. Q2 gross margin reached 65.40 percent on CHF 850.30 million sales.

Rating, results and trading

Zacks Research moved On Holding to Hold on October 12, 2026.
Second-quarter gross margin reached 65.40 percent on CHF 850.30 million in sales.
On Holding stock traded at EUR 31.41 at 12:20 p.m. CEST at Lang & Schwarz on October 15, 2026.

ONON, CH1134540470, Illustration mit AI erstellt.

On Holding stock costs EUR 31.41 at Lang & Schwarz on October 15, 2026, at 12:20 p.m. CEST. The latest market event is a Zacks Research upgrade from Strong Sell to Hold, issued on October 12, 2026, according to MarketBeat.

Sales reached CHF 850.30 million

The rating change follows a quarter in which On reported CHF 850.30 million in second-quarter 2026 sales, up 13.50 percent from the prior-year quarter. The company also posted CHF 105.00 million in net income and a 65.40 percent gross margin, according to Zacks.

The mix of growth matters for the investment case. Direct-to-consumer sales rose 26.00 percent in the second quarter of 2026 and represented 45.70 percent of revenue, while apparel sales increased 47.70 percent to CHF 54.20 million. Footwear sales grew 10.90 percent in the same period, creating a quantified contrast between the two categories.

Three events shaped the stock

On August 11, 2026, the second-quarter earnings call reported CHF 850.00 million in sales and an adjusted EBITDA margin of 19.80 percent, according to Yahoo Finance. On September 21, 2026, On presented a 2029 sales ambition of CHF 5.60 billion at its investor day, according to Quartr. On October 12, 2026, Zacks Research moved its rating to Hold.

What dates matter next?

The next explicitly scheduled reporting date is November 11, 2026, when On is expected to publish third-quarter 2026 results before the US market opens, according to MarketBeat. Its listed consensus calls for USD 1.11 billion in revenue and USD 0.49 in earnings per share for that quarter.

Trading stays tied to execution

On's latest figures show a business balancing faster direct-to-consumer and apparel growth against slower wholesale expansion. The 65.40 percent second-quarter gross margin and the 19.50 to 20.00 percent full-year adjusted EBITDA margin outlook make profitability the key measure when the November report arrives. On Holding is listed on the New York Stock Exchange under ticker ONON.

On Holding stock was trading at EUR 31.41 at Lang & Schwarz on October 15, 2026, at 12:20 p.m. CEST. The further course of trading is shown by the continuously updated real-time quote of On Holding stock.