Should I Buy Onholdings (ONON)? Finance YouTuber Analysis

The YouTuber recommends Onholding, arguing it's a misunderstood company operating in the high-end consumer market, which is less affected by spending cutbacks. He highlights its strong historical revenue growth (33.9% CAGR), improving gross margins (63.9%), and operating leverage, while noting its current valuation (2.3x EV/Sales, 21.6x forward P/E) is reasonable for its growth potential. He also points out that a weak US dollar has obscured its true growth in CHF terms.

“I think on holding is the kind of company that can be look a lot more like Lululemon or even Nike a decade or two from now.”

The analyst recommends On Holding, noting its consistent revenue growth (expected 23% in 2026) and increasing gross margin and profitability guidance, despite a recent stock dip. He highlights its strong performance in the premium athletic wear market, particularly appealing to women, and its high margins combined with rapid growth make it an attractive investment at 22 times forward earnings.

“And when you combine phenomenal margins with phenomenal growth, those are the kind of businesses that I want to own, especially at really good valuations.”

The YouTuber recommends buying On Holding (ONON) due to its strong growth in a challenging retail environment, expanding margins, and attractive valuation. He highlights that the market's negative reaction to reported sales growth is due to currency conversion issues, as constant currency growth remains robust at 26.7% in Q1 2026, exceeding guidance. The company also shows pricing power and a forward P/E of 22, which is considered low for a company growing over 20%.

“I think On Holding phenomenal company doing extremely well and I think the value is too good to pass up right now.”

The YouTuber is bullish on Onholding, a growth company with a 43% drawdown, seeing it as overlooked by the market. He notes its rapid growth (35% CAGR over three years), expanding operating margins, and strong pricing power, evidenced by its ability to raise prices despite tariffs. The company's low forward P/E of 22 and enterprise value to sales of three are considered attractive for a business with such growth potential and market position in casual sportswear.

“I think it's crazy that the market only values this company at 22 times forward earnings. Enterprise value to sales is just three.”

The YouTuber recommends On Holding as a better investment than Nike, citing its strong growth in both direct-to-consumer (up 33.7%) and wholesale channels (up 32.6%). He highlights its high and rising gross margins (63%) and its focus on high-end customers, which he believes positions it well in the apparel market.

“They have very great gross margins, great growth. They're catering to that high end of the market. You know exactly where they're going to be.”

The YouTuber views the recent 11% stock drop due to the CEO's departure as a buying opportunity. He argues that the return of the co-founders as co-CEOs could bring renewed vision and strengthen management, especially given the previous CEO held both CEO and CFO roles. The company's fundamentals remain strong with 30% growth and good margins, and its valuation is attractive compared to competitors like Nike.

“I will something I'm looking at as more of a buying opportunity than it is a big red flag for On Holding.”

The analyst suggests buying On Holding, citing its compelling valuation with a forward P/E of 25 for a company growing at 35% over the past three years. He notes its premium market position, strong margins (63% gross profit margin), and pricing power, expecting management to beat conservative 2026 growth guidance.

“These prices I don't think are going to last long because when OnStar is reporting numbers in 2026 I think they'll be much better than the market is expecting because like I said management typically pretty conservative with that guidance and then when they report things they typically blow out those numbers.”

The YouTuber argues that On Holding (ONON) is a compelling buy despite recent stock underperformance due to multiple compression. He highlights strong revenue growth (35% CAGR over three years), expanding margins (64% gross margin, 17.6% adjusted EBITDA), and significant growth opportunities in apparel and accessories. He believes the current valuation (4.1x EV/Sales, 3.4x forward EV/Sales) is cheap given its high growth rate compared to peers like Nike and Deckers, suggesting the multiple will expand as the company continues to grow.

“I think this is a relatively cheap stock for the growth rate that you have.”

The analyst argues On Holdings is undervalued, with its stock going nowhere since late 2021 despite a 40% compound annual growth rate in revenue over the past three years. He notes its current price-to-sales multiple of 3.9 is the lowest ever for the public company, comparing it favorably to slower-growing competitors like Nike and Lululemon. The company is also generating positive free cash flow despite high growth investments.

“The point here is that Onholding continues to show that it is a compounding growth company long-term. And yet, the market is pricing it as if it's one of these companies that has kind of lost its magic.”

The YouTuber recommends On Holding due to its impressive 40% compound annual revenue growth rate and significant runway for expansion, especially in apparel and accessories, which are currently small segments. The company benefits from a premium brand and high gross margins (over 60%). Despite being in investment mode, its low valuation at 4.2 times sales makes it an attractive opportunity for future profitability and growth.

“And at just 4.2 and two time sales. I think on running stock is just too cheap to pass up.”

Hoium is buying On Holding, despite its stock being down 26% over the past year, because its financials continue to improve. He highlights strong revenue growth (40% per year over 3 years, 54% over 5 years) and growing net income, even as a hard goods company. He believes the company's pricing power and ability to generate free cash flow will eventually lead the market to re-rate its valuation higher.

“This is on holding. This is a great example. 40% growth per year over the past 3 years. You go back 5 years, we're talking about 54% growth. Look at what's happened with the stock over the past year. Shares are down 26% over the past year, but their financials continue to get better.”

The YouTuber plans to add more shares of On Holding in November, citing its strong revenue growth (42% CAGR, 34% constant currency for 2025) and healthy margins (gross profit above 60%). He believes the current valuation (EV/Sales ~3, P/FCF 26, P/E 25) is very reasonable for a company growing at over 30%, especially given the stock is down 24% year-to-date, presenting a favorable risk-reward.

“I think the risk reward here is just phenomenal for investors. A stock that I plan to add more of in November.”

The YouTuber recommends buying On Holding, citing its phenomenal earnings report, strong pricing power, and demand for products leading to increased margins and revenue. He highlights the company's impressive constant currency growth rate of 34.5% and its high gross margin of 65.7%, exceeding its 60% goal. Despite recent stock performance, he believes the valuation multiples (EV/Sales of 3.2, P/FCF of 26, forward P/E of 25) are reasonable for a company growing in excess of 30%, suggesting significant upside potential.

“I really have a hard time finding a lot of flaws in AN's results. And this is where I think there's such a huge opportunity for the stock.”

Travis Hoium recommends buying On Holding, citing its strong fundamentals, 30%+ year-over-year growth, and increasing guidance. He believes the market undervalues the company, especially given its current 3.6x price-to-sales multiple compared to 17x in 2022, despite continued strong performance and growth potential in apparel and shoes.

“I think everything's going well and I'm happy to buy shares at a very, very cheap price and just be a long-term buy and hold investor here.”

The analyst recommends On Holding, noting that despite market concerns about consumer spending and tariffs, the company serves the high-end market, which is less affected by economic downturns. Management has demonstrated the ability to raise prices to offset tariffs and consistently beat guidance. The company's 43% growth rate over three years and profitability, despite being a physical goods company, are impressive. The stock's enterprise value to sales multiple of 3.9 is attractive compared to Nike's 2.2 with negative growth.

“On holding is serving the high end of the market. This is people who can afford a $200, $300 pair of shoes. They are not in a recession right now.”

The YouTuber is buying On Holdings due to its strong revenue growth (38% constant currency), industry-leading gross profit margins (61%), and significant pricing power. He believes the market is misinterpreting the impact of foreign currency fluctuations on profitability and overlooking the company's growth potential in apparel and accessories, as well as its relative valuation compared to Nike.

“I think the market is really overlooking the potential for on holdings or on running. Ticker symbol is N. I'm going to dig into exactly why I love this stock today.”

The YouTuber is holding On Running, viewing it as a high-growth, premium brand with significant long-term compounding potential, similar to Nike's early growth. He highlights its impressive 46% three-year revenue growth, high gross margins over 60%, and ability to raise prices despite potential tariffs, indicating strong brand power. He also sees substantial growth opportunities in apparel and accessories, which currently represent a small fraction of its revenue.

“I think this is a kind of company that can compound those gains for the next decade or more.”

The YouTuber is holding On Holding due to its impressive growth, strong pricing power allowing it to raise prices despite tariffs, and expanding product lines beyond shoes. He notes the company's solid balance sheet and attractive valuation compared to slower-growing peers, despite being near its 52-week high.

“I would love to see a little bit of a pullback because we are now near the 52- week high but this is a stock I am absolutely not selling. It's a pretty significant portion of my asymmetric portfolio.”

The analyst recommends On Holding as a buy, citing its strong revenue growth (35.7% in the most recent quarter) and its structural advantage in the current market. The company is built for direct-to-consumer engagement and effective social media advertising, allowing it to take market share from legacy brands like Nike. Despite trading at a higher sales multiple (5.4x sales) than Nike, its growth trajectory justifies the premium.

“On holding is one that I own in the asymmetric portfolio.”

The YouTuber is holding On Holdings due to its phenomenal growth in Q4 2024, exceeding expectations with strong sales across all regions and high gross profit margins. He highlights the company's ability to be profitable while growing rapidly, and sees significant future growth potential in its apparel business and innovative product launches, despite the stock becoming more expensive for new buys.

“love what I see from on happy to have it in my portfolio it's getting a little more expensive so maybe not one adding right now but going to just let this one compound over time”

The YouTuber is holding On Holding, noting its unique approach to the athletic footwear market by targeting high-end female athletes, which has resonated with suburban consumers. He expects 30% revenue growth to continue, sees significant potential in apparel, and points out that its shoe revenue is still only a fraction of Nike's, indicating substantial long-term growth opportunities.

“not doing anything with that position but maybe adding a little bit over time.”

The YouTuber is highly positive on On Holding, citing its strong revenue growth (53% CAGR since 2021) and solid profitability in a hard goods business. Its differentiated marketing strategy, focusing on niche athletes and impactful campaigns, combined with innovative product development like spray-on shoes, positions it well in the high-end athleisure market for long-term growth.

“The long-term growth potential is too big to ignore for on holding so one that I think could be a 10x stock over the next decade.”

The analyst is extremely bullish on On Holding, citing its rapid growth in shoe revenue (30% CAGR expected) and significant untapped potential in apparel, which currently represents a small fraction of its shoe revenue. He believes On is well-positioned to capture market share from Nike, even a small percentage of which would lead to substantial upside for investors.

“I'm going to start with on looking at these two an is the company that I'm extremely bullish on in this space.”

The YouTuber identifies On Holding as a high-growth apparel company with compelling shoes and a move into high-margin apparel. Management expects 30% revenue growth over the next three years, with significant untapped international opportunities. He compares its growth trajectory to successful brands like Nike and Lululemon, suggesting it could be the next major player in the athletic wear market, capable of compounding stock returns by 20-30% annually over the next decade.

“I think that there's a good chance at H can the stock is already up about 50% in the asymmetric portfolio that's in a little over a year so one of the best performing stocks that I have bought over the past year I think that run will continue for on holding.”

The YouTuber is bullish on On Holdings due to its strong existing business and the potential disruptive innovation of its Light Sprays technology. This technology could revolutionize shoe manufacturing by enabling on-demand, customized production closer to the customer, leading to higher margins, reduced inventory risk, and significant marketing advantages. This innovation presents a long-term asymmetric growth opportunity for the company.

“I think onh holding from a stock perspective is so interesting to follow because not only do you have a phenomenal existing business you have optionality in innovation in a product like a spray on shoe.”

Travis Hoium recommends On Holding due to its innovative approach in the high-end sports market, exemplified by its new 'sprayed-on' shoe technology and differentiated marketing strategy. He highlights strong financial performance with 54% CAGR in revenue, 60% gross margins, and profitability despite rapid growth, positioning it as a strong long-term investment in the consumer goods sector.

“I think this is one of the best consumer goods companies right now. I think there's a massive opening for them as Nike kind of falls by the wayside.”

Travis Hoium recommends On Holding due to its strong growth rate, high margins, and significant untapped potential in its apparel segment, which currently represents a small fraction of revenue. He believes the premium quality of their apparel, similar to their shoes, will drive future growth, especially with upcoming Olympic exposure. The company also has a strong balance sheet with no debt.

“on holding is one of my favorite stocks right now it's one of the companies in the as metric portfolio phenomenal growth rate I think the company is really hitting its stride ahead of the Olympics.”

Travis Hoium is bullish on On Holdings, citing its phenomenal revenue growth (61% CAGR since 2019) and strong gross margins (nearly 60%), which outperform Nike. He believes the company has a long runway for 20%+ revenue growth due to expansion into new markets and product categories, and that its current valuation, despite appearing high, will look cheap long-term given its growth trajectory.

“long-term buying at the current price could actually look extremely cheap that is one of the reasons that I'm B so bullish on on on holding once you see a brand like this get extremely popular it's best to just buy it and ride the wave of popularity”

The YouTuber is bullish on On Holding, citing strong direct-to-consumer sales growth, high gross margins (nearly 60%), and reiterated guidance for 30% net sales growth. He believes the company is reasonably priced given its growth trajectory and expanding product lines beyond running shoes into apparel and accessories, which broadens its market reach. He also notes the company's strong balance sheet with no real debt.

“I love love where on holding is headed right now I'm a shareholder if there's weakness in the stock going forward I would definitely be looking to buy.”

The analyst is bullish on On Holding due to its exceptional growth rate, with a 60.1% CAGR since 2019 and management expecting revenue to more than double by 2026 with strong margins. He views the company as a high-growth, profitable apparel business with attractive long-term tailwinds. Despite a higher P/E, its growth trajectory makes it a compelling long-term investment.

“Management said at the end of 2023 that they expect Revenue to more than double between 2023 and 2026 expect margins gross margins to be around 60% and they want their ebit down margin to be over 18%.”

Travis Hoium recommends buying On Holding due to its rapid market share gains in footwear and apparel, strong projected revenue growth of over 30% for 2024 and 26% CAGR through 2026, and high gross margins (over 60%). He argues that despite initial confusion from currency conversions, the company's underlying performance is robust, with significant growth avenues in apparel and international expansion, and it trades at a reasonable forward price-to-sales multiple compared to slower-growing competitors like Nike.

“I think there's a lot to like about onh Holdings I don't see any weakness in the core business after the fourth quarter results now the stock was down a little bit right after earnings but that bounced back in large part because investors took the time to realize hey this was actually a pretty good quarter and the outlook for 2024 looks really phenomenal so I think there's a lot to love about onh holding still trading in a reasonable multiple”

The YouTuber views the recent stock drop as a buying opportunity, arguing that the market is misinterpreting On Holding's Q4 earnings. He explains that reported losses were due to foreign currency translation effects, not operational underperformance. The company's underlying business is growing strongly at around 30% on a constant currency basis, and management of inventory is excellent.

“I look at a drop like this in the stock today and I see this as a buying opportunity because the market doesn't fully understand and appreciate how this company operates and what was really reported today.”

The analyst is bullish on On Holding, a high-growth company in athletic shoes and apparel, citing its 66% three-year compound growth rate. He believes it's undervalued with a forward P/E of 33 relative to its growth, and praises its strong brand, quality products, and high gross margins, despite the risk of brand popularity fading.

“I think you're getting a high Growth Company you're getting a great brand and you're getting it at a really good value compared to the growth that you're getting from on holding.”

The analyst suggests avoiding On Holding stock in the short term, despite a recent price jump due to speculation about a Tiger Woods partnership. He argues that a deal with Tiger Woods doesn't align with On's historical sponsorship strategy, product focus (primarily running, not golf), or marketing budget, making it an unlikely and potentially mismatched partnership.

“I thought the jump in the stock 6% still as I'm recording is pretty notable but don't be surprised if it pulls back over the next few weeks because an and tiger maybe don't make sense get their long term”

The analyst recommends On Holding due to its rapid growth, high gross margins, and simultaneous profitability, which is rare for a fast-growing physical product company. He notes its premium valuation compared to Nike but believes its superior growth trajectory and consistent margins justify the investment.

“I think on holding is going to have a phenomenal 2024 and it's kind of stock that I'm just going to hold for the foreseeable future because I see a very bright future for that brand”

Travis Hoium recommends On Holding as a strong buy, citing its significantly higher growth rate (46.5% vs. Nike's 2%), superior gross margins, and substantial future growth runway in new product categories and international markets. He believes the current premium valuation is justified by its growth trajectory and potential for higher net income margins than Nike in the long term.

“I think on holding is a great buy if you're interested in Sporting Good stocks one of those brands that I think we're going to see more and more of in the future”

Travis Hoium recommends On Holding as a hypergrowth stock, highlighting its phenomenal revenue growth (nearly 4x since Dec 2020) and strong gross margins (projected to stay around 60%). He notes the company's ability to generate positive net income despite rapid expansion, and management's expectation of 30% growth for the next three years. While slightly more expensive than Nike on valuation metrics, its superior growth and margins justify the premium.

“if you are an investor who is willing to buy a stock and hold it for the next 5 to 10 years I think you can just expect on Holdings to continue growing they have had phenomenal execution you can see those numbers are really hard to disagree with that this is a hyper growth stock and that will likely continue for the foreseeable future”

The YouTuber recommends On Holding as a phenomenal growth story, comparing it to a miniature Nike but growing much faster. He highlights strong Q3 2023 results, including 46.5% net sales growth, 54.6% direct-to-consumer growth, and a nearly doubled net income margin of 12.2%. The company successfully targets high-end athleisure consumers with premium-priced products.

“just a phenomenal growth story across the board for on Holdings this may not be a company that you are aware of but if it's one of those funny things where when you start thinking about on Holdings you start seeing their shoes everywhere”

Travis Hoium believes On Holdings is an underappreciated, high-growth shoe and apparel company with potential for 10x returns over the next decade. He highlights its astonishing revenue growth (67% TTM), reasonable enterprise value to sales multiple (5.4x) given its growth rate, and high margins (over 50%) compared to competitors like Nike. He also notes that currency fluctuations might be understating reported growth.

“I think this is one of these companies that can be a 10x stock over the next decade. I recently bought shares and I'm looking to add more in the future as well.”

The analyst believes On Holding is a better value than Nike despite its higher price-to-sales multiple, due to its significantly higher growth rate (67% vs. under 10%). He argues that the company's high gross margins and continued growth will lead to strong profitability and cash flow in the long term, making it an attractive investment for patient investors.

“I think that on Holding stock is a great value right now for the growth that we're getting.”

The YouTuber recommends On Holdings as a buy due to its rapid growth in the high-end fashion market, with year-over-year revenue growth exceeding 75% in recent quarters. He believes the company can sustain 25-30% revenue growth for the next 5-10 years, driven by increasing brand recognition globally and good margins, making it a good early-stage growth investment.

“if it exceeds 25 30 Revenue growth this could be a phenomenal investment especially if management is able to keep operating costs relatively low and gross margins relatively High”

The YouTuber is intrigued by On Holdings due to its rapid revenue growth (over 75%) and high gross profit margin (58%), which he believes indicates strong potential for a growth stock. He acknowledges it's a higher-risk investment compared to Nike but sees significant upside if it can sustain growth and improve profitability over time, especially given its relatively small size and potential for market expansion.

“for me I think on Holdings looks really great not a stock that I have added yet but is absolutely on my short list”

Travis Hoium is considering opening a starter position in On Holding, viewing it as a potential long-term investment. He highlights its impressive 78.3% growth rate, high gross margins of 58.3%, and management's expectation of continued strong revenue growth for 2023. Despite a high P/E ratio, he argues its price-to-sales ratio is reasonable compared to more mature competitors like Nike, given its rapid growth, and believes it could become a significant brand like Lululemon or Nike if it maintains high revenue growth and improves profitability.

“It's the kind of stock that I would like to buy and just hold for the next 10, 20 years and hope that this Brand's become something like Lululemon or Nike.”

The analyst views On Running as undervalued and suitable for growth investors, highlighting its rapid growth (35% in the last 12 months) and strong future potential. However, they caution that its performance is highly dependent on continued growth.

“on running instead is for growth investors as long as they keep growing it will do great but if growth slow down yeah be careful because it might crash.”