ONON vs. TPR: On Holding vs. Tapestry Stock Comparison

November 11, 2026

How do On Holding (ONON) and Tapestry (TPR) 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 Tapestry (TPR) both belong to the Textiles, Apparel & Luxury Goods industry, though ONON is classified under Footwear while TPR falls under Apparel, Accessories & Luxury Goods.

Tapestry (TPR) has more than two decades of public-market history since October 6, 2000, 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 Tapestry (TPR)
Profile Item	ONON	TPR
Name	On Holding AG Class A Ordinary Shares	Tapestry 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	Textiles, Apparel & Luxury Goods
GICS Sub-Industry	Footwear	Apparel, Accessories & Luxury Goods
Market Capitalization	12.49 billion USD	26.10 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	September 15, 2021	October 6, 2000
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

ONON

TPR

GSPC

On Holding (ONON) vs. Tapestry (TPR), 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 On Holding (ONON) and Tapestry (TPR). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for On Holding (ONON) and Tapestry (TPR)
Metric	ONON	TPR
Total Return (1Y)	6.10%	32.53%
Total Return (3Y, Annualized)	11.24%	72.39%
Total Return (5Y, Annualized)	-0.38%	29.40%

Risk Profile

Drawdown History

ONON

TPR

GSPC

On Holding (ONON) vs. Tapestry (TPR), 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 On Holding (ONON) and Tapestry (TPR). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for On Holding (ONON) and Tapestry (TPR)
Metric	ONON	TPR
Volatility (1Y, Annualized)	49.48%	40.54%
Beta (5Y)	2.03	1.39
Max Drawdown (5Y)	-68.90%	-41.87%
Avg. Volume (3M)	10.75M	3.20M

Risk-Adjusted Performance

Risk-Return Positioning

ONON and TPR 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 Tapestry (TPR)
Metric	ONON	TPR
Sharpe Ratio (1Y)	0.04	0.70
Sortino Ratio (1Y)	0.05	0.96

Profitability

ROE (TTM)

Both companies show strong equity returns, but Tapestry (TPR) at 433.81% is the standout with ROE above its industry range; On Holding (ONON) at 23.95% also sits in the top quartile.

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%

TPR

Consumer Durables & Apparel industry group

433.81%

TPR: 433.81%
Max: 44.27%
Q3: 22.94%
Median: 12.36%
Q1: 5.76%
Min: -12.76%

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

Net Margin (TTM)

Tapestry (TPR) at 19.68% keeps the most of each sales dollar — above its industry’s net margin range — and On Holding (ONON) at 12.30% also retains a top-quartile share.

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%

TPR

Consumer Durables & Apparel industry group

19.68%

TPR: 19.68%
Max: 19.00%
Q3: 9.42%
Median: 5.93%
Q1: 2.80%
Min: -7.09%

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

Operating Margin (TTM)

Tapestry (TPR) at 23.18% 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%

TPR

Consumer Durables & Apparel industry group

23.18%

Max: 28.97%
TPR: 23.18%
Q3: 14.34%
Median: 8.77%
Q1: 4.05%
Min: -7.88%

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

Profitability Metrics

Profitability metrics for On Holding (ONON) and Tapestry (TPR)
Metric	ONON	TPR
ROE (TTM)	23.95%	433.81%
ROA (TTM)	9.58%	18.68%
Net Margin (TTM)	12.30%	19.68%
Operating Margin (TTM)	14.02%	23.18%
Gross Margin (TTM)	64.82%	77.14%

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; Tapestry (TPR) at 14.17% also sits in the top quartile.

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

EPS Growth

Tapestry (TPR) at 786.59% 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.

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

Growth Metrics

Growth metrics for On Holding (ONON) and Tapestry (TPR)
Metric	ONON	TPR
Revenue Growth (YoY)	30.01%	14.17%
Revenue Growth (3Y CAGR)	35.11%	6.32%
EPS Growth (YoY)	-17.57%	786.59%
EPS Growth (3Y CAGR)	50.21%	23.28%

Financial Strength

Current Ratio (MRQ)

On Holding (ONON) at 2.83 keeps current ratio within its industry’s typical mid-range, while Tapestry (TPR) at 1.24 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for TPR.

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

TPR

Consumer Durables & Apparel industry group

1.24

Max: 5.48
Q3: 3.70
Median: 2.10
Q1: 1.64
TPR: 1.24
Min: 0.75

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

Debt / Equity (MRQ)

On Holding (ONON) at 0.29 is near its industry mid-range for debt-to-equity ratio, while Tapestry (TPR) at 12.37 sits above its benchmark range, pointing to a heavier debt load relative to equity.

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

TPR

Consumer Durables & Apparel industry group

12.37

TPR: 12.37
Max: 2.46
Q3: 1.19
Median: 0.45
Q1: 0.23
Min: 0.00

On Holding (ONON) vs. Tapestry (TPR): 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 Tapestry (TPR)
Metric	ONON	TPR
Current Ratio (MRQ)	2.83	1.24
Debt / Equity (MRQ)	0.29	12.37
Net Debt / EBITDA	-1.38	1.65

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 Tapestry (TPR) reports a yield of 1.24%, 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%

TPR

Consumer Durables & Apparel industry group

1.24%

Max: 5.10%
Q3: 2.20%
TPR: 1.24%
Median: 0.77%
Q1: 0.00%
Min: 0.00%

On Holding (ONON) vs. Tapestry (TPR): 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 Tapestry (TPR) reports a payout of 21.37%, 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%

TPR

Consumer Durables & Apparel industry group

21.37%

Max: 96.30%
Q3: 39.57%
TPR: 21.37%
Median: 11.11%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for On Holding (ONON) and Tapestry (TPR)
Metric	ONON	TPR
Dividend Yield (TTM)	0.00%	1.24%
Dividend Payout Ratio (TTM)	0.00%	21.37%

Valuation

P/E Ratio (TTM)

Both On Holding (ONON) at 24.91 and Tapestry (TPR) at 17.07 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

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

TPR

Consumer Durables & Apparel industry group

17.07

Max: 40.20
Q3: 25.33
Median: 17.52
TPR: 17.07
Q1: 14.50
Min: 5.29

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

P/S Ratio (TTM)

Both look expensive on sales: Tapestry (TPR) at 3.19 sits in the upper P/S ratio quartile, and On Holding (ONON) at 3.88 prices even higher, above its industry range.

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

TPR

Consumer Durables & Apparel industry group

3.19

Max: 3.32
TPR: 3.19
Q3: 1.74
Median: 1.02
Q1: 0.56
Min: 0.01

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

P/B Ratio (MRQ)

Both look rich against book: On Holding (ONON) at 5.38 sits in the upper P/B ratio quartile, and Tapestry (TPR) at 76.37 prices even higher, above its industry range.

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

TPR

Consumer Durables & Apparel industry group

76.37

TPR: 76.37
Max: 8.35
Q3: 4.28
Median: 2.11
Q1: 1.09
Min: 0.49

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

Valuation Metrics

Valuation metrics for On Holding (ONON) and Tapestry (TPR)
Metric	ONON	TPR
P/E Ratio (TTM)	24.91	17.07
P/S Ratio (TTM)	3.88	3.19
P/B Ratio (MRQ)	5.38	76.37
Free Cash Flow Yield (TTM)	2.31%	5.24%