ONON vs. PHM: On Holding vs. PulteGroup Stock Comparison

November 11, 2026

How do On Holding (ONON) and PulteGroup (PHM) 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

On Holding (ONON) and PulteGroup (PHM) both fall under the Consumer Durables & Apparel industry group, but ONON is classified in Textiles, Apparel & Luxury Goods while PHM is classified in Household Durables.

PulteGroup (PHM) has more than two decades of public-market history since March 17, 1980, whereas On Holding (ONON) listed on September 15, 2021 and has a much shorter record to draw on.

Company profile comparison for On Holding (ONON) and PulteGroup (PHM)
Profile Item	ONON	PHM
Name	On Holding AG Class A Ordinary Shares	PulteGroup, Inc.
Country/Region	Switzerland	United States
GICS Sector	Consumer Discretionary	Consumer Discretionary
GICS Industry Group	Consumer Durables & Apparel	Consumer Durables & Apparel
GICS Industry	Textiles, Apparel & Luxury Goods	Household Durables
GICS Sub-Industry	Footwear	Homebuilding
Market Capitalization	12.49 billion USD	25.24 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	September 15, 2021	March 17, 1980
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

ONON

PHM

GSPC

On Holding (ONON) vs. PulteGroup (PHM), 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

Loading price history…

Trailing total returns for On Holding (ONON) and PulteGroup (PHM). Returns over one year are annualized.

Calendar-Year Returns

Loading price history…

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

Performance Metrics

Price performance metrics for On Holding (ONON) and PulteGroup (PHM)
Metric	ONON	PHM
Total Return (1Y)	6.10%	14.71%
Total Return (3Y, Annualized)	11.24%	19.88%
Total Return (5Y, Annualized)	-0.38%	22.42%

Risk Profile

Drawdown History

ONON

PHM

GSPC

On Holding (ONON) vs. PulteGroup (PHM), 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

Loading price history…

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

Risk Metrics

On Holding (ONON) carries a highly aggressive beta of 2.03, indicating much higher sensitivity to broad-market moves, whereas PulteGroup (PHM) is closer to market-like at 1.14 — a noticeable difference in market-sensitivity profile.

Risk profile metrics for On Holding (ONON) and PulteGroup (PHM)
Metric	ONON	PHM
Volatility (1Y, Annualized)	49.48%	34.96%
Beta (5Y)	2.03	1.14
Max Drawdown (5Y)	-68.90%	-38.01%
Avg. Volume (3M)	10.75M	1.77M

Risk-Adjusted Performance

Risk-Return Positioning

ONON and PHM 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 On Holding (ONON) and PulteGroup (PHM)
Metric	ONON	PHM
Sharpe Ratio (1Y)	0.04	0.30
Sortino Ratio (1Y)	0.05	0.48

Profitability

ROE (TTM)

On Holding (ONON) at 23.95% sits in the top ROE quartile, while PulteGroup (PHM) at 13.86% is closer to the peer norm — stronger capital efficiency for ONON.

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%

PHM

Consumer Durables & Apparel industry group

13.86%

Max: 44.27%
Q3: 22.94%
PHM: 13.86%
Median: 12.36%
Q1: 5.76%
Min: -12.76%

On Holding (ONON) vs. PulteGroup (PHM): A comparison of their ROE against the Consumer Durables & Apparel industry group benchmark.

Net Margin (TTM)

For every dollar of sales, both On Holding (ONON) at 12.30% and PulteGroup (PHM) at 11.24% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

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%

PHM

Consumer Durables & Apparel industry group

11.24%

Max: 19.00%
PHM: 11.24%
Q3: 9.42%
Median: 5.93%
Q1: 2.80%
Min: -7.09%

On Holding (ONON) vs. PulteGroup (PHM): A comparison of their net margin against the Consumer Durables & Apparel industry group benchmark.

Operating Margin (TTM)

PulteGroup (PHM) at 15.96% operates in the top operating margin quartile, ahead of On Holding (ONON) at 14.02%, which runs around its industry’s norm.

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%

PHM

Consumer Durables & Apparel industry group

15.96%

Max: 28.97%
PHM: 15.96%
Q3: 14.34%
Median: 8.77%
Q1: 4.05%
Min: -7.88%

On Holding (ONON) vs. PulteGroup (PHM): A comparison of their operating margin against the Consumer Durables & Apparel industry group benchmark.

Profitability Metrics

Profitability metrics for On Holding (ONON) and PulteGroup (PHM)
Metric	ONON	PHM
ROE (TTM)	23.95%	13.86%
ROA (TTM)	9.58%	8.58%
Net Margin (TTM)	12.30%	11.24%
Operating Margin (TTM)	14.02%	15.96%
Gross Margin (TTM)	64.82%	25.32%

Growth

Revenue Growth

On Holding (ONON) at 30.01% clears its industry range for revenue growth, far stronger top-line momentum than PulteGroup (PHM) at -3.54%, which is closer to a typical peer reading.

On Holding (ONON) vs. PulteGroup (PHM): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both On Holding (ONON) at -17.57% and PulteGroup (PHM) at -24.30% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

On Holding (ONON) vs. PulteGroup (PHM): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for On Holding (ONON) and PulteGroup (PHM)
Metric	ONON	PHM
Revenue Growth (YoY)	30.01%	-3.54%
Revenue Growth (3Y CAGR)	35.11%	2.66%
EPS Growth (YoY)	-17.57%	-24.30%
EPS Growth (3Y CAGR)	50.21%	0.33%

Financial Strength

Current Ratio (MRQ)

On Holding (ONON) at 2.83 keeps current ratio within its industry’s typical mid-range, while PulteGroup (PHM) at 6.99 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.

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

PHM

Consumer Durables & Apparel industry group

6.99

PHM: 6.99
Max: 5.48
Q3: 3.70
Median: 2.10
Q1: 1.64
Min: 0.75

On Holding (ONON) vs. PulteGroup (PHM): A comparison of their current ratio against the Consumer Durables & Apparel industry group benchmark.

Debt / Equity (MRQ)

PulteGroup (PHM) at 0.18 keeps leverage in the lower industry quartile, while On Holding (ONON) at 0.29 runs a more typical debt-to-equity mix.

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

PHM

Consumer Durables & Apparel industry group

0.18

Max: 2.46
Q3: 1.19
Median: 0.45
Q1: 0.23
PHM: 0.18
Min: 0.00

On Holding (ONON) vs. PulteGroup (PHM): A comparison of their debt-to-equity ratio against the Consumer Durables & Apparel industry group benchmark.

Financial Strength Metrics

Financial strength metrics for On Holding (ONON) and PulteGroup (PHM)
Metric	ONON	PHM
Current Ratio (MRQ)	2.83	6.99
Debt / Equity (MRQ)	0.29	0.18
Net Debt / EBITDA	-1.38	0.40

Dividends

Dividend Yield (TTM)

On Holding (ONON) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile PulteGroup (PHM) reports a yield of 0.77%, ranking against industry peers normally.

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%

PHM

Consumer Durables & Apparel industry group

0.77%

Max: 5.10%
Q3: 2.20%
PHM: 0.77%
Median: 0.77%
Q1: 0.00%
Min: 0.00%

On Holding (ONON) vs. PulteGroup (PHM): A comparison of their dividend yield against the Consumer Durables & Apparel industry group benchmark.

Dividend Payout Ratio (TTM)

On Holding (ONON) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile PulteGroup (PHM) reports a payout of 11.11%, ranking against industry peers normally.

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%

PHM

Consumer Durables & Apparel industry group

11.11%

Max: 96.30%
Q3: 39.57%
PHM: 11.11%
Median: 11.11%
Q1: 0.00%
Min: 0.00%

On Holding (ONON) vs. PulteGroup (PHM): A comparison of their payout ratio against the Consumer Durables & Apparel industry group benchmark.

Dividend Metrics

Dividend metrics for On Holding (ONON) and PulteGroup (PHM)
Metric	ONON	PHM
Dividend Yield (TTM)	0.00%	0.77%
Dividend Payout Ratio (TTM)	0.00%	11.11%

Valuation

P/E Ratio (TTM)

PulteGroup (PHM) at 14.15 sits in the cheaper P/E ratio quartile, while On Holding (ONON) at 24.91 is closer to its industry’s usual earnings multiple — a discount for PHM, though growth and earnings durability still matter.

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

PHM

Consumer Durables & Apparel industry group

14.15

Max: 40.20
Q3: 25.33
Median: 17.52
Q1: 14.50
PHM: 14.15
Min: 5.29

On Holding (ONON) vs. PulteGroup (PHM): A comparison of their P/E ratio against the Consumer Durables & Apparel industry group benchmark.

P/S Ratio (TTM)

PulteGroup (PHM) at 1.58 prices around its industry’s typical P/S ratio, while On Holding (ONON) at 3.88 clears its benchmark range — ONON looks notably rich on sales.

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

PHM

Consumer Durables & Apparel industry group

1.58

Max: 3.32
Q3: 1.74
PHM: 1.58
Median: 1.02
Q1: 0.56
Min: 0.01

On Holding (ONON) vs. PulteGroup (PHM): A comparison of their P/S ratio against the Consumer Durables & Apparel industry group benchmark.

P/B Ratio (MRQ)

PulteGroup (PHM) at 1.87 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.

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

PHM

Consumer Durables & Apparel industry group

1.87

Max: 8.35
Q3: 4.28
Median: 2.11
PHM: 1.87
Q1: 1.09
Min: 0.49

On Holding (ONON) vs. PulteGroup (PHM): A comparison of their P/B ratio against the Consumer Durables & Apparel industry group benchmark.

Valuation Metrics

Valuation metrics for On Holding (ONON) and PulteGroup (PHM)
Metric	ONON	PHM
P/E Ratio (TTM)	24.91	14.15
P/S Ratio (TTM)	3.88	1.58
P/B Ratio (MRQ)	5.38	1.87
Free Cash Flow Yield (TTM)	2.31%	3.35%