New York Stock Exchange · Consumer Cyclical
Invest in On stock from India
Indian and foreign residents can buy On (ONON) shares directly through Paasa.
By Paasa · Updated
On at a glance
- Price
- $29.96-$0.50 (1.64%)
- Market cap
- $9.99B
- Day range
- $29.75 – $31.00
- P/E
- 20.68
- Dividend yield
- None
- Volume
- 12.47M
- 1 month
- +3.92%
- 6 months
- -14.79%
- YTD
- -35.54%
- 1 year
- -31.79%
- 5 years
- -10.22%
On statements, FY2021–FY2025
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | CHF 2.9B | CHF 2.3B | CHF 1.8B | CHF 1.2B | CHF 724.6M |
| Gross profit | CHF 1.8B | CHF 1.4B | CHF 1.1B | CHF 684.9M | CHF 430.3M |
| Operating income | CHF 360.1M | CHF 211.6M | CHF 180.2M | CHF 85.1M | −CHF 141.1M |
| Net income | CHF 194.5M | CHF 242.3M | CHF 79.6M | CHF 57.7M | −CHF 170.2M |
| Earnings per share | CHF 0.59 | CHF 0.71 | CHF 0.25 | CHF 0.18 | −CHF 0.55 |
| EBITDA | CHF 345.9M | CHF 400.0M | CHF 206.3M | CHF 128.6M | −CHF 125.8M |
| Total assets | CHF 2.8B | CHF 2.4B | CHF 1.6B | CHF 1.4B | CHF 1.2B |
| Total debt | CHF 581.7M | CHF 347.6M | CHF 229.0M | CHF 160.4M | CHF 180.8M |
| Cash and short-term investments | CHF 1.0B | CHF 968.0M | CHF 512.4M | CHF 397.3M | CHF 676.8M |
| Shareholders' equity | CHF 1.6B | CHF 1.4B | CHF 1.1B | CHF 969.5M | CHF 848.4M |
| Operating cash flow | CHF 322.8M | CHF 510.6M | CHF 232.1M | −CHF 227.0M | CHF 16.9M |
| Free cash flow | CHF 253.2M | CHF 445.6M | CHF 184.9M | −CHF 310.0M | −CHF 19.3M |
| Capital expenditure | −CHF 69.6M | −CHF 65.0M | −CHF 47.2M | −CHF 83.0M | −CHF 36.2M |
Fiscal years as reported, the latest ending 31 Dec 2025. Figures in CHF; a dash means the provider reported nothing for that line.
Peer comparison
| Company | Ticker | Price | Market cap |
|---|---|---|---|
| SharkNinja | SN | $177.74 | $25.15B |
| Ball | BALL | $56.83 | $15.13B |
| H World | HTHT | $42.00 | $12.90B |
| Crown | CCK | $108.06 | $11.75B |
| Deckers Outdoor | DECK | $78.67 | $10.71B |
| Service Corporation International | SCI | $77.84 | $10.63B |
| GameStop | GME | $23.39 | $10.49B |
| Wynn Resorts | WYNN | $81.12 | $8.42B |
Peers as grouped by the data provider. This is not an investment recommendation.
Analyst price targets
- Low
- $20.00
- High
- $82.00
- Median
- $41.00
- Consensus
- $42.56
Ratings: 20 buy · 6 hold · 1 sell. Consensus: Buy.
Published sell-side 12-month targets in USD, aggregated by the data provider. They are not Paasa's view and not a forecast.
How to invest in On from India
Step 1
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Step 2
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Step 3
Search ONON and buy
Find On by name or by its ticker, ONON, and place your order. Fractional shares are available and there is no minimum trade size, so you can buy by amount instead of whole shares.
Why invest in On from India
What On does
On Holding AG, together with its subsidiaries, develops and distributes performance sports products under the On brand in Switzerland, the rest of Europe, the Middle East, Africa, the United States, the rest of the Americas, and the Asia-Pacific. The company offers athletic footwear, apparel, and accessories for performance running, performance outdoor, performance all day, performance training, performance tennis, and young movers. On operates in the Apparel - Footwear & Accessories industry within the Consumer Cyclical sector.
Hold a dollar asset
On shares are priced in US dollars, so a weaker rupee adds to what they're worth in rupees. The rupee depreciated over 85% against the dollar between 2010 and 2025.
Buy a fraction of a share
Buy by amount, not by share, and get the matching fraction of one On share. There is no minimum trade size.
Paasa handles the paperwork
Investing abroad brings paperwork with it: remittance filings, capital gains reporting, foreign asset disclosure. Paasa prepares all of it for you. Your India-ready tax reports arrive at year end, ready to file.
Frequently asked questions
Can I buy On stock from India?
Yes. Indian residents and NRIs can buy On (ONON) shares directly through Paasa. On is listed on the New York Stock Exchange, in the Apparel - Footwear & Accessories industry. Your money leaves India under the RBI's Liberalised Remittance Scheme and the shares are held in your own name at Interactive Brokers.
Do I need to buy a full On share?
No. You can buy part of one On share and add to your position over time. One share is $29.96, and you can buy whole shares or any fraction; there is no minimum trade size.
How are On dividends taxed for Indian investors?
On trades on the New York Stock Exchange but is domiciled in Switzerland, so any withholding on its dividends follows that country's rules rather than those of the US. Some non-US companies list in the US through American Depositary Receipts, which can carry dividend withholding at the company's home-country rate. Dividends are taxed at your slab rate in India. Paasa's dividend report shows the gross amount and any tax withheld for each payment.
What tax do I pay in India when I sell On shares?
The US does not levy capital gains tax on shares for Indian residents. In India, gains on shares held for more than 24 months are long-term and taxed at 12.5%, and gains on shares held for 24 months or less are short-term and taxed at your income-tax slab rate. Both are worked out in rupees at the USD/INR rate on the day you bought and the day you sold, so the currency move is part of the gain. Paasa's capital-gains statement gives you the figures for your return.