Equity Profile

ONON

On Holding AG

Consumer DiscretionaryFootwear$12.4B

Aug11Tue

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

On Holding AG is a footwear company in the Consumer Discretionary sector, known for its innovative running shoes. With a market cap of $12 billion, it has gained popularity among athletes and casual wearers alike, benefiting from trends in health and fitness.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will help gauge the company's financial health this quarter.

$0.48

Revenue Growth

Revenue growth reflects the company's ability to expand its market presence and attract customers, which is crucial for future growth.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

ONON Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+44.11%

Avg Stock Reaction

+5.26%

Last Quarter Recap

In Q1-2026, On Holding reported an EPS of $0.48, significantly beating expectations by over 65%. However, the stock experienced a slight decline the following day, indicating mixed market reactions despite strong earnings.

Management Promises & Guidance

Continue to innovate and expand product lines.
Focus on enhancing brand presence in key markets.
Maintain strong supply chain management to support growth.

Expectations

Wall Street Expectations

The market is cautiously optimistic ahead of On Holding's earnings report, especially after a series of positive surprises in previous quarters. Investors are looking for continued growth in EPS and revenue.

Bull Case

If On Holding can deliver another strong EPS beat and show solid revenue growth, it could reinforce investor confidence and drive the stock higher.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it may lead to a sell-off, particularly given the recent insider selling.

Key Metrics to Watch

Earnings Per Share (EPS)

$0.48

EPS is a key indicator of profitability and will help gauge the company's financial health this quarter.

Revenue Growth

N/A

Revenue growth reflects the company's ability to expand its market presence and attract customers, which is crucial for future growth.

Gross Margin

N/A

Gross margin indicates how efficiently the company is producing its products and managing costs, important for assessing profitability.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

Given the previous strong EPS surprises, the market will closely watch this figure to assess ongoing profitability.

How is revenue growth trending compared to last quarter?

Investors need to understand if the company is maintaining its growth trajectory, which is critical for future performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating On Holding's ability to maintain profitability despite recent insider selling, which could signal confidence in the company's future.

Supporting Evidence

The company has consistently beaten EPS estimates, indicating strong operational performance.

The options market is pricing a larger move than historical averages, suggesting heightened expectations.

Insider selling may not reflect a lack of confidence but rather personal financial decisions.

Key Risk

If the EPS comes in below $0.40, it could validate concerns about the company's growth trajectory.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether On Holding can sustain its recent momentum in profitability and revenue growth.

Bull Confirmed If

An EPS of $0.50 or higher would confirm strong financial performance and investor confidence.

Bear Confirmed If

An EPS below $0.40 would raise concerns about profitability and growth potential.

Pre-Earnings Positioning

Options Market

Implied Move

±21.07%

Historical Avg

±7.0%

Pricing rich

The options market is pricing in a significant potential move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±21.1% while ONON has averaged ±7.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

34.4%

Calls (187K)P/C Ratio: 0.23Puts (307K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Consumer Discretionary

n=30

Fade rate: 8 of 21 (38%)

This setup has occurred 30 times across Consumer Discretionary in the last 2 years. 13 of 21 (62%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 4.9%, with a raw directional average of +2.2% (modestly positive historical bias).

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$292,640.99

8,300 sh

1 insider

Net

$292,640.99

Net selling

Most Active Insiders· 2 open-market trades

CEOHoffmann Martin
$292,640.99
Net selling

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If On Holding beats expectations, history suggests a potential stock increase of around 5.78%, confirming the company's growth narrative.

In-Line / Cautious

If results are in line but cautious commentary is provided, the stock may experience limited movement as investors reassess their outlook.

Miss

A miss could lead to a decline, with history indicating an average drop of 4.37% in such scenarios.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·1 sell

Members

Senate only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

I-MEJr. Angus S KingSen.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product launches and their expected impact on sales.
2Insights into supply chain management and cost control measures.
3Comments on market expansion strategies and geographic performance.
4Guidance on future revenue expectations and growth initiatives.
5Details on customer engagement and brand loyalty metrics.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will help gauge the company's financial health this quarter.

$0.48

Revenue Growth

Revenue growth reflects the company's ability to expand its market presence and attract customers, which is crucial for future growth.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

ONON Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+44.11%

Avg Stock Reaction

+5.26%

Last Quarter Recap

Management Promises & Guidance

Continue to innovate and expand product lines.
Focus on enhancing brand presence in key markets.
Maintain strong supply chain management to support growth.

Expectations

Wall Street Expectations

Bull Case

If On Holding can deliver another strong EPS beat and show solid revenue growth, it could reinforce investor confidence and drive the stock higher.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it may lead to a sell-off, particularly given the recent insider selling.

Key Metrics to Watch

Earnings Per Share (EPS)

$0.48

EPS is a key indicator of profitability and will help gauge the company's financial health this quarter.

Revenue Growth

N/A

Revenue growth reflects the company's ability to expand its market presence and attract customers, which is crucial for future growth.

Gross Margin

N/A

Gross margin indicates how efficiently the company is producing its products and managing costs, important for assessing profitability.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

Given the previous strong EPS surprises, the market will closely watch this figure to assess ongoing profitability.

How is revenue growth trending compared to last quarter?

Investors need to understand if the company is maintaining its growth trajectory, which is critical for future performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating On Holding's ability to maintain profitability despite recent insider selling, which could signal confidence in the company's future.

Supporting Evidence

The company has consistently beaten EPS estimates, indicating strong operational performance.

The options market is pricing a larger move than historical averages, suggesting heightened expectations.

Insider selling may not reflect a lack of confidence but rather personal financial decisions.

Key Risk

If the EPS comes in below $0.40, it could validate concerns about the company's growth trajectory.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether On Holding can sustain its recent momentum in profitability and revenue growth.

Bull Confirmed If

An EPS of $0.50 or higher would confirm strong financial performance and investor confidence.

Bear Confirmed If

An EPS below $0.40 would raise concerns about profitability and growth potential.

Pre-Earnings Positioning

Options Market

Implied Move

±21.07%

Historical Avg

±7.0%

Pricing rich

The options market is pricing in a significant potential move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±21.1% while ONON has averaged ±7.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

34.4%

Calls (187K)P/C Ratio: 0.23Puts (307K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Consumer Discretionary

n=30

Fade rate: 8 of 21 (38%)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$292,640.99

8,300 sh

1 insider

Net

$292,640.99

Net selling

Most Active Insiders· 2 open-market trades

CEOHoffmann Martin
$292,640.99
Net selling

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If On Holding beats expectations, history suggests a potential stock increase of around 5.78%, confirming the company's growth narrative.

In-Line / Cautious

If results are in line but cautious commentary is provided, the stock may experience limited movement as investors reassess their outlook.

Miss

A miss could lead to a decline, with history indicating an average drop of 4.37% in such scenarios.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·1 sell

Members

Senate only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

I-MEJr. Angus S KingSen.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product launches and their expected impact on sales.
2Insights into supply chain management and cost control measures.
3Comments on market expansion strategies and geographic performance.
4Guidance on future revenue expectations and growth initiatives.
5Details on customer engagement and brand loyalty metrics.