On Holding AG (ONON) Income Statement
ONON 2025 at a glance
Fiscal year ended December 31, 2025 · Swiss francsONON revenue and net income
Where ONON's revenue goes
2025Each bar shows an amount and its share of revenue. ONON kept 6.8% of revenue as net income.
ONON profit margins
ONON growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +30.0% | +35.1% | +47.9% | — |
| Gross profit | +34.7% | +40.4% | +52.3% | — |
| Operating income | +78.2% | +64.2% | — | — |
| Net income | −15.9% | +52.3% | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ONON income statement in Swiss francs
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | CHF 3.01B | CHF 2.32B | CHF 1.79B | CHF 1.22B | CHF 724.6M | CHF 425.3M | CHF 267.1M |
| Cost of revenue | CHF 1.12B | CHF 912.6M | CHF 724.8M | CHF 537.2M | CHF 294.3M | CHF 194.2M | CHF 124.0M |
| Gross profit | CHF 1.89B | CHF 1.41B | CHF 1.07B | CHF 684.9M | CHF 430.3M | CHF 231.1M | CHF 143.1M |
| Research & development | — | — | CHF 8.9M | — | — | — | — |
| Sales, general & admin | CHF 1.52B | CHF 1.19B | CHF 855.2M | CHF 599.8M | CHF 571.4M | CHF 248.2M | CHF 137.4M |
| Total operating expenses | CHF 1.52B | CHF 1.19B | CHF 887.1M | CHF 599.8M | CHF 571.4M | CHF 248.2M | CHF 137.4M |
| Operating income | CHF 377.0M | CHF 211.6M | CHF 180.2M | CHF 85.1M | −CHF 141.1M | −CHF 17.1M | CHF 5.7M |
| Interest income | CHF 30.9M | CHF 23.5M | CHF 11.5M | CHF 5.7M | CHF 25,000 | CHF 27,000 | CHF 47,000 |
| Interest expense | CHF 21.9M | CHF 23.8M | CHF 10.8M | CHF 6.2M | CHF 3.5M | CHF 852,299 | CHF 629,643 |
| Income before taxes | CHF 205.2M | CHF 279.6M | CHF 69.1M | CHF 77.9M | −CHF 159.6M | −CHF 24.4M | CHF 3.1M |
| Income taxes | CHF 1.5M | CHF 37.4M | −CHF 10.5M | CHF 20.2M | CHF 10.6M | CHF 3.1M | CHF 4.6M |
| Net income | CHF 203.7M | CHF 242.3M | CHF 79.6M | CHF 57.7M | −CHF 170.2M | −CHF 27.5M | −CHF 1.5M |
| EBITDA | CHF 354.5M | CHF 400.0M | CHF 244.7M | CHF 128.6M | −CHF 125.8M | −CHF 12.0M | CHF 8.6M |
| Gross margin | 62.8% | 60.6% | 59.6% | 56.0% | 59.4% | 54.3% | 53.6% |
| Operating margin | 12.5% | 9.1% | 10.1% | 7.0% | −19.5% | −4.0% | 2.1% |
| Net margin | 6.8% | 10.5% | 4.4% | 4.7% | −23.5% | −6.5% | −0.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CHF 850.3M | CHF 850.5M | CHF 743.8M | CHF 794.4M | CHF 749.2M | CHF 726.6M | CHF 606.6M | CHF 635.8M | CHF 567.7M | CHF 508.2M | CHF 447.1M | CHF 480.5M |
| Cost of revenue | CHF 294.6M | CHF 304.2M | CHF 268.4M | CHF 272.1M | CHF 288.4M | CHF 291.3M | CHF 229.8M | CHF 250.5M | CHF 227.4M | CHF 204.9M | CHF 176.9M | CHF 192.8M |
| Gross profit | CHF 555.7M | CHF 546.2M | CHF 475.3M | CHF 522.2M | CHF 460.8M | CHF 435.3M | CHF 376.8M | CHF 385.3M | CHF 340.3M | CHF 303.3M | CHF 270.2M | CHF 287.7M |
| Research & development | — | — | — | — | — | — | — | — | — | — | CHF 8.9M | — |
| Sales, general & admin | CHF 436.3M | CHF 416.9M | CHF 392.8M | CHF 397.5M | CHF 368.0M | CHF 358.2M | CHF 323.8M | CHF 312.7M | CHF 292.9M | CHF 264.8M | CHF 286.6M | CHF 229.9M |
| Total operating expenses | CHF 436.3M | CHF 426.2M | CHF 392.9M | CHF 397.6M | CHF 368.0M | CHF 358.3M | CHF 323.7M | CHF 312.7M | CHF 293.0M | CHF 264.8M | CHF 229.5M | CHF 229.9M |
| Operating income | CHF 119.4M | CHF 120.0M | CHF 82.5M | CHF 124.7M | CHF 92.8M | CHF 77.0M | CHF 53.1M | CHF 72.6M | CHF 47.3M | CHF 38.5M | CHF 40.7M | CHF 57.8M |
| Interest income | CHF 11.3M | CHF 7.0M | CHF 8.0M | CHF 8.1M | CHF 7.5M | CHF 7.3M | CHF 6.4M | CHF 6.0M | CHF 5.8M | CHF 5.4M | CHF 4.2M | CHF 1.0M |
| Interest expense | CHF 8.3M | CHF 8.2M | CHF 100,000 | CHF 8.1M | CHF 7.4M | CHF 5.8M | CHF 6.1M | CHF 6.3M | CHF 5.7M | CHF 5.1M | CHF 4.3M | CHF 3.3M |
| Income before taxes | CHF 125.7M | CHF 118.7M | CHF 70.0M | CHF 118.6M | −CHF 47.3M | CHF 63.9M | CHF 91.5M | CHF 29.6M | CHF 42.7M | CHF 115.8M | −CHF 44.9M | CHF 69.3M |
| Income taxes | CHF 20.7M | CHF 13.1M | CHF 900,000 | −CHF 300,000 | −CHF 6.4M | CHF 7.2M | CHF 2.0M | −CHF 900,000 | CHF 11.8M | CHF 24.4M | −CHF 18.2M | CHF 10.6M |
| Net income | CHF 105.0M | CHF 105.6M | CHF 69.1M | CHF 118.9M | −CHF 40.9M | CHF 56.7M | CHF 89.6M | CHF 30.5M | CHF 30.8M | CHF 91.4M | −CHF 26.7M | CHF 58.7M |
| EBITDA | CHF 155.7M | CHF 163.3M | CHF 104.6M | CHF 158.9M | −CHF 8.9M | CHF 98.1M | CHF 118.8M | CHF 63.5M | CHF 73.3M | CHF 142.8M | CHF 46.9M | CHF 89.0M |
| Gross margin | 65.4% | 64.2% | 63.9% | 65.7% | 61.5% | 59.9% | 62.1% | 60.6% | 59.9% | 59.7% | 60.4% | 59.9% |
| Operating margin | 14.0% | 14.1% | 11.1% | 15.7% | 12.4% | 10.6% | 8.8% | 11.4% | 8.3% | 7.6% | 9.1% | 12.0% |
| Net margin | 12.3% | 12.4% | 9.3% | 15.0% | −5.5% | 7.8% | 14.8% | 4.8% | 5.4% | 18.0% | −6.0% | 12.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in Swiss francs as reported in ONON's financial statements (latest annual report filed March 3, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ONON financial results
In fiscal year 2025 (ended December 31, 2025), On reported revenue of CHF 3.0 billion, up 30.0% from the year before. It had net income of CHF 203.7 million (down 15.9%), a net profit margin of 6.8%. Over five years revenue grew at an average rate of 47.9% a year. Figures are in Swiss francs, the currency of its financial statements.
See the ONON stock overview for the latest quote and news, or the ONON chart for price history and technical indicators.
ONON income statement FAQ
What is On's annual revenue?
On reported total revenue of CHF 3.0 billion for fiscal year 2025, which ended on December 31, 2025. That was up 30.0% from CHF 2.3 billion the previous year.
Is On profitable?
Yes. On reported net income of CHF 203.7 million in fiscal 2025, a net profit margin of 6.8%; its operating margin was 12.5%.
What is On's gross margin?
On's gross margin was 62.8% in fiscal 2025: for every $100 of revenue, On kept $63 after the direct cost of its products and services.
How fast is On growing?
Revenue grew 47.9% a year on average over the last five fiscal years, from CHF 425.3 million to CHF 3.0 billion.
When will On report its next earnings?
On is expected to report results for the quarter ending September 30, 2026 on November 11, 2026 before the market opens.
When does On's fiscal year end?
On's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 3, 2026.