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AS vs. ONON: Amer Sports vs. On Holding Stock Comparison

How do Amer Sports (AS) and On Holding (ONON) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Amer Sports (AS) and On Holding (ONON) both belong to the Textiles, Apparel & Luxury Goods industry, though AS is classified under Apparel, Accessories & Luxury Goods while ONON falls under Footwear.

Company profile comparison for Amer Sports (AS) and On Holding (ONON)
Profile ItemASONON
NameAmer Sports, Inc.On Holding AG Class A Ordinary Shares
Country/RegionFinlandSwitzerland
GICS SectorConsumer DiscretionaryConsumer Discretionary
GICS Industry GroupConsumer Durables & ApparelConsumer Durables & Apparel
GICS IndustryTextiles, Apparel & Luxury GoodsTextiles, Apparel & Luxury Goods
GICS Sub-IndustryApparel, Accessories & Luxury GoodsFootwear
Market Capitalization18.31 billion USD12.49 billion USD
CurrencyUSDUSD
ExchangeNYSENYSE
Listing DateFebruary 1, 2024September 15, 2021
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

AS
ONON
GSPC
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Amer Sports (AS) vs. On Holding (ONON), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Amer Sports (AS) and On Holding (ONON). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Amer Sports (AS) and On Holding (ONON). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Amer Sports (AS) and On Holding (ONON)
MetricASONON
Total Return (1Y)9.14%6.10%
Total Return (3Y, Annualized)--11.24%
Total Return (5Y, Annualized)---0.38%

Risk Profile

Drawdown History

AS
ONON
GSPC
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Amer Sports (AS) vs. On Holding (ONON), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Amer Sports (AS) and On Holding (ONON). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Amer Sports (AS) and On Holding (ONON)
MetricASONON
Volatility (1Y, Annualized)40.19%49.48%
Beta (5Y)1.822.03
Max Drawdown (5Y)-40.71%-68.90%
Avg. Volume (3M)6.72M10.75M

Risk-Adjusted Performance

Risk-Return Positioning

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AS and ONON are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Amer Sports (AS) and On Holding (ONON)
MetricASONON
Sharpe Ratio (1Y)0.120.04
Sortino Ratio (1Y)0.180.05

Profitability

ROE (TTM)

On Holding (ONON) at 23.95% sits in the top ROE quartile, while Amer Sports (AS) at 9.15% is closer to the peer norm — stronger capital efficiency for ONON.

AS

Consumer Durables & Apparel industry group

9.15%

Max
44.27%
Q3
22.94%
Median
12.36%
AS
9.15%
Q1
5.76%
Min
-12.76%

ONON

Consumer Durables & Apparel industry group

23.95%

Max
44.27%
ONON
23.95%
Q3
22.94%
Median
12.36%
Q1
5.76%
Min
-12.76%
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Amer Sports (AS) vs. On Holding (ONON): A comparison of their ROE against the Consumer Durables & Apparel industry group benchmark.

Net Margin (TTM)

On Holding (ONON) at 12.30% retains a top-quartile share of revenue as profit, ahead of Amer Sports (AS) at 7.35%, which keeps about the industry-typical share.

AS

Consumer Durables & Apparel industry group

7.35%

Max
19.00%
Q3
9.42%
AS
7.35%
Median
5.93%
Q1
2.80%
Min
-7.09%

ONON

Consumer Durables & Apparel industry group

12.30%

Max
19.00%
ONON
12.30%
Q3
9.42%
Median
5.93%
Q1
2.80%
Min
-7.09%
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Amer Sports (AS) vs. On Holding (ONON): A comparison of their net margin against the Consumer Durables & Apparel industry group benchmark.

Operating Margin (TTM)

Both Amer Sports (AS) at 7.93% and On Holding (ONON) at 14.02% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

AS

Consumer Durables & Apparel industry group

7.93%

Max
28.97%
Q3
14.34%
Median
8.77%
AS
7.93%
Q1
4.05%
Min
-7.88%

ONON

Consumer Durables & Apparel industry group

14.02%

Max
28.97%
Q3
14.34%
ONON
14.02%
Median
8.77%
Q1
4.05%
Min
-7.88%
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Amer Sports (AS) vs. On Holding (ONON): A comparison of their operating margin against the Consumer Durables & Apparel industry group benchmark.

Profitability Metrics

Profitability metrics for Amer Sports (AS) and On Holding (ONON)
MetricASONON
ROE (TTM)9.15%23.95%
ROA (TTM)6.29%9.58%
Net Margin (TTM)7.35%12.30%
Operating Margin (TTM)7.93%14.02%
Gross Margin (TTM)59.81%64.82%

Growth

Revenue Growth

Both companies are growing quickly, but On Holding (ONON) at 30.01% is the standout with revenue growth above its industry range; Amer Sports (AS) at 26.68% also sits in the top quartile.

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Amer Sports (AS) vs. On Holding (ONON): A comparison of their Revenue Growth across different time periods.

EPS Growth

Amer Sports (AS) at 442.86% clears its industry range for EPS growth, a much stronger earnings trajectory than On Holding (ONON) at -17.57%, which is closer to a typical peer reading.

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Amer Sports (AS) vs. On Holding (ONON): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Amer Sports (AS) and On Holding (ONON)
MetricASONON
Revenue Growth (YoY)26.68%30.01%
Revenue Growth (3Y CAGR)22.51%35.11%
EPS Growth (YoY)442.86%-17.57%
EPS Growth (3Y CAGR)--50.21%

Financial Strength

Current Ratio (MRQ)

Both Amer Sports (AS) at 1.76 and On Holding (ONON) at 2.83 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

AS

Consumer Durables & Apparel industry group

1.76

Max
5.48
Q3
3.70
Median
2.10
AS
1.76
Q1
1.64
Min
0.75

ONON

Consumer Durables & Apparel industry group

2.83

Max
5.48
Q3
3.70
ONON
2.83
Median
2.10
Q1
1.64
Min
0.75
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Amer Sports (AS) vs. On Holding (ONON): A comparison of their current ratio against the Consumer Durables & Apparel industry group benchmark.

Debt / Equity (MRQ)

Amer Sports (AS) at 0.16 keeps leverage in the lower industry quartile, while On Holding (ONON) at 0.29 runs a more typical debt-to-equity mix.

AS

Consumer Durables & Apparel industry group

0.16

Max
2.46
Q3
1.19
Median
0.45
Q1
0.23
AS
0.16
Min
0.00

ONON

Consumer Durables & Apparel industry group

0.29

Max
2.46
Q3
1.19
Median
0.45
ONON
0.29
Q1
0.23
Min
0.00
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Amer Sports (AS) vs. On Holding (ONON): A comparison of their debt-to-equity ratio against the Consumer Durables & Apparel industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Amer Sports (AS) and On Holding (ONON)
MetricASONON
Current Ratio (MRQ)1.762.83
Debt / Equity (MRQ)0.160.29
Net Debt / EBITDA0.31-1.38

Dividends

Dividend Yield (TTM)

Neither Amer Sports (AS) nor On Holding (ONON) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

AS

Consumer Durables & Apparel industry group

0.00%

Max
5.10%
Q3
2.20%
Median
0.77%
AS
0.00%
Q1
0.00%
Min
0.00%

ONON

Consumer Durables & Apparel industry group

0.00%

Max
5.10%
Q3
2.20%
Median
0.77%
ONON
0.00%
Q1
0.00%
Min
0.00%
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Amer Sports (AS) vs. On Holding (ONON): A comparison of their dividend yield against the Consumer Durables & Apparel industry group benchmark.

Dividend Payout Ratio (TTM)

Neither Amer Sports (AS) nor On Holding (ONON) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

AS

Consumer Durables & Apparel industry group

0.00%

Max
96.30%
Q3
39.57%
Median
11.11%
AS
0.00%
Q1
0.00%
Min
0.00%

ONON

Consumer Durables & Apparel industry group

0.00%

Max
96.30%
Q3
39.57%
Median
11.11%
ONON
0.00%
Q1
0.00%
Min
0.00%
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Amer Sports (AS) vs. On Holding (ONON): A comparison of their payout ratio against the Consumer Durables & Apparel industry group benchmark.

Dividend Metrics

Dividend metrics for Amer Sports (AS) and On Holding (ONON)
MetricASONON
Dividend Yield (TTM)0.00%0.00%
Dividend Payout Ratio (TTM)0.00%0.00%

Valuation

P/E Ratio (TTM)

On Holding (ONON) at 24.91 is near its industry’s usual P/E ratio, while Amer Sports (AS) at 33.13 sits in the richer quartile — AS needs stronger growth or earnings quality to justify the premium.

AS

Consumer Durables & Apparel industry group

33.13

Max
40.20
AS
33.13
Q3
25.33
Median
17.52
Q1
14.50
Min
5.29

ONON

Consumer Durables & Apparel industry group

24.91

Max
40.20
Q3
25.33
ONON
24.91
Median
17.52
Q1
14.50
Min
5.29
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Amer Sports (AS) vs. On Holding (ONON): A comparison of their P/E ratio against the Consumer Durables & Apparel industry group benchmark.

P/S Ratio (TTM)

Both look expensive on sales: Amer Sports (AS) at 2.46 sits in the upper P/S ratio quartile, and On Holding (ONON) at 3.88 prices even higher, above its industry range.

AS

Consumer Durables & Apparel industry group

2.46

Max
3.32
AS
2.46
Q3
1.74
Median
1.02
Q1
0.56
Min
0.01

ONON

Consumer Durables & Apparel industry group

3.88

ONON
3.88
Max
3.32
Q3
1.74
Median
1.02
Q1
0.56
Min
0.01
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Amer Sports (AS) vs. On Holding (ONON): A comparison of their P/S ratio against the Consumer Durables & Apparel industry group benchmark.

P/B Ratio (MRQ)

Amer Sports (AS) at 2.67 is valued about in line with its industry on P/B ratio, while On Holding (ONON) at 5.38 carries an above-peer premium to book — ONON is pricier on assets.

AS

Consumer Durables & Apparel industry group

2.67

Max
8.35
Q3
4.28
AS
2.67
Median
2.11
Q1
1.09
Min
0.49

ONON

Consumer Durables & Apparel industry group

5.38

Max
8.35
ONON
5.38
Q3
4.28
Median
2.11
Q1
1.09
Min
0.49
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Amer Sports (AS) vs. On Holding (ONON): A comparison of their P/B ratio against the Consumer Durables & Apparel industry group benchmark.

Valuation Metrics

Valuation metrics for Amer Sports (AS) and On Holding (ONON)
MetricASONON
P/E Ratio (TTM)33.1324.91
P/S Ratio (TTM)2.463.88
P/B Ratio (MRQ)2.675.38
Free Cash Flow Yield (TTM)2.99%2.31%