On Holding AGHAM:49G +0.77%66 Current Ratio is 2.98 as of Mar. 2026, which is 10% below its 10-year median of 3.30. GuruFocus rates HAM:49G with a GF Score™ of 66/100 and a GF Value™ of €53.38 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 1,070 Manufacturing - Apparel & Accessories companies, On Holding AG ranks better than 74.77% on this metric.
The current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated as a company's Total Current Assets divides by its Total Current Liabilities. On Holding AG's current ratio for the quarter that ended in Mar. 2026 was 2.98.
On Holding AG has a current ratio of 2.98. It generally indicates good short-term financial strength.
The historical rank and industry rank for On Holding AG's Current Ratio or its related term are showing as below:
HAM:49G'
s Current Ratio Range Over the Past 10 Years
Min: 1.84 Med: 3.3 Max: 5.31
Current: 2.98
During the past 7 years, On Holding AG's highest Current Ratio was 5.31. The lowest was 1.84. And the median was 3.30.
The current ratio can give a sense of the efficiency of a company's operating cycle or its ability to turn its product into cash. Companies that have trouble getting paid on their receivables or have long inventory turnover can run into liquidity problems because they are unable to alleviate their obligations. Because business operations differ in each industry, it is always more useful to compare companies within the same industry.
Acceptable current ratios vary from industry to industry and are generally between 1 and 3 for healthy businesses.
The higher the current ratio, the more capable the company is of paying its obligations. A ratio under 1 suggests that the company would be unable to pay off its obligations if they came due at that point. While this shows the company is not in good financial health, it does not necessarily mean that it will go bankrupt - as there are many ways to access financing - but it is definitely not a good sign.
If all other things were equal, a creditor, who is expecting to be paid in the next 12 months, would consider a high current ratio to be better than a low current ratio, because a high current ratio means that the company is more likely to meet its liabilities which fall due in the next 12 months.
On Holding AG Current Ratio Related Terms
On Holding AG Current Ratio Historical Data
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The historical data trend for On Holding AG's Current Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
HAM:49G vs DECK, BIRK, CROX: Current Ratio Comparison
For the Footwear & Accessories subindustry, On Holding AG's Current Ratio, along with its competitors' market caps and Current Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
On Holding AG Current Ratio vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, On Holding AG's Current Ratio distribution charts can be found below:
* The bar in red indicates where On Holding AG's Current Ratio falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
On Holding AG (HAM:49G) has a Current Ratio of 2.98 as of Mar. 2026. This is 10% below median its historical median of 3.30. Over the past decade, On Holding AG's Current Ratio has ranged from 1.84 to 5.31. According to the industry distribution chart, On Holding AG ranks #270 out of 1070 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 25.2%.
Is On Holding AG's Current Ratio too high?
On Holding AG's current Current Ratio of 2.98 is 10% below median its 10-year median of 3.30. Over the past 10 years, this metric has ranged from a low of 1.84 to a high of 5.31. The Manufacturing - Apparel & Accessories industry median Current Ratio is 1.79. On Holding AG's value of 2.98 is 66.5% above this industry median. Based on the distribution chart, On Holding AG ranks #270 out of 1070 companies in the Manufacturing - Apparel & Accessories industry, which is above the industry midpoint. Overall, On Holding AG has a GF Score™ of 66/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does On Holding AG's Current Ratio compare to DECK and BIRK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, On Holding AG ranks #270 out of 1070 companies for Current Ratio. This puts On Holding AG in the upper half of its industry. The industry median Current Ratio is 1.79. On Holding AG's value of 2.98 is 66.5% above this benchmark. Historically, On Holding AG's own Current Ratio has ranged from 1.84 to 5.31 over the past decade. While the company's 10-year median is 3.30 vs. the industry median of 1.79, On Holding AG has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Current Ratio for a Manufacturing - Apparel & Accessories company?
The median Current Ratio among Manufacturing - Apparel & Accessories companies is 1.79, based on 1,070 companies in the industry. Companies in the top quartile (top 25%) have a Current Ratio significantly above this median, while those in the bottom quartile fall well below. However, Current Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. On Holding AG's current Current Ratio of 2.98 is 66.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Current Ratio mean?
A high Current Ratio can signal that a stock is expensive relative to its fundamentals. For the Manufacturing - Apparel & Accessories industry, the median Current Ratio is 1.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. On Holding AG's current Current Ratio is 2.98, which is 10% below median its own 10-year median of 3.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is On Holding AG stock overvalued right now?
Based on GuruFocus' analysis, On Holding AG (HAM:49G) is currently considered Significantly Undervalued. The stock's GF Value™ is €53.38, compared to a current price of €31.50 — trading 41% below its estimated fair value. The current Current Ratio is 2.98, which is 10% below median its 10-year median of 3.30 and 66.5% above the Manufacturing - Apparel & Accessories industry median of 1.79. On Holding AG's overall GF Score™ is 66/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Current Ratio calculated?
Current Ratio is calculated from a company's financial statements. For On Holding AG (HAM:49G), the current Current Ratio is 2.98 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is On Holding AG (HAM:49G) Overvalued in 2026?
Based on GuruFocus' analysis, On Holding AG stock appears to be undervalued.
The current stock price of €31.50 is trading 41% below its estimated GF Value™ of €53.38.
GuruFocus considers On Holding AG to be Significantly Undervalued.
Key valuation signals for HAM:49G:
Current Ratio: 2.98 (10% below median its 10-year median of 3.30)
GF Value™: €53.38 vs. price of €31.50 (41% below fair value)
Industry Position: 66.5% above the Manufacturing - Apparel & Accessories median (#270 of 1070)
No single metric tells the full story. See the HAM:49G stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Founded in Switzerland in 2010, sportswear firm On Holding generates more than 90% of its sales from athletic shoes. The brand is best known for its running shoes and its distinctive CloudTec soles. On also produces athletic apparel (6% of 2025 sales) and accessories (1%). The firm's merchandise is available in more than 80 countries and is sold through both wholesale (58% of sales) and company-owned channels (42%). In 2025, On generated 58% of its sales in North America, 25% in Europe, the Middle East, and Africa, and 17% in the Asia-Pacific region.
66GF Score
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