On Holding AGHAM:49G +0.77%66 Days Payable is 47.34 as of Mar. 2026, which is 4% below its 10-year median of 49.46. 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 1,020 Manufacturing - Apparel & Accessories companies, On Holding AG ranks worse than 54.41% on this metric.
The historical rank and industry rank for On Holding AG's Days Payable or its related term are showing as below:
HAM:49G'
s Days Payable Range Over the Past 10 Years
Min: 42.33 Med: 49.46 Max: 55.17
Current: 50.22
During the past 7 years, On Holding AG's highest Days Payable was 55.17. The lowest was 42.33. And the median was 49.46.
HAM:49G's Days Payable is ranked worse than 54.41% of 1020
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 54.135
vs HAM:49G: 50.22
On Holding AG's Days Payable
declined
from Mar. 2025 (52.06) to Mar. 2026 (47.34).
It may suggest that On Holding AGaccelerated paying its suppliers.
On Holding AG Days Payable Related Terms
On Holding AG Days Payable Historical Data
* Premium members only.
The historical data trend for On Holding AG's Days Payable 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: Days Payable Comparison
For the Footwear & Accessories subindustry, On Holding AG's Days Payable, along with its competitors' market caps and Days Payable 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 Days Payable vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, On Holding AG's Days Payable distribution charts can be found below:
* The bar in red indicates where On Holding AG's Days Payable falls into.
Days Payable indicates the number of days that the account payable relative to cost of goods sold the company has. An increase of Days Payable may suggest that the company delays paying its suppliers.
On Holding AG's Days Payable for the fiscal year that ended in Dec. 2025 is calculated as
* 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 Days Payable of 47.34 as of Mar. 2026. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on On Holding AG and its competitors. This is near median its historical median of 49.46. Over the past decade, On Holding AG's Days Payable has ranged from 42.33 to 55.17. According to the industry distribution chart, On Holding AG ranks #555 out of 1020 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 54.4%.
Is On Holding AG's Days Payable too high?
On Holding AG's current Days Payable of 47.34 is near median its 10-year median of 49.46. Over the past 10 years, this metric has ranged from a low of 42.33 to a high of 55.17. The Manufacturing - Apparel & Accessories industry median Days Payable is 54.14. On Holding AG's value of 47.34 is 12.6% below this industry median. Based on the distribution chart, On Holding AG ranks #555 out of 1020 companies in the Manufacturing - Apparel & Accessories industry, which is below 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 Days Payable compare to DECK and BIRK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, On Holding AG ranks #555 out of 1020 companies for Days Payable. This places On Holding AG in the lower half of its industry. The industry median Days Payable is 54.14. On Holding AG's value of 47.34 is 12.6% below this benchmark. Historically, On Holding AG's own Days Payable has ranged from 42.33 to 55.17 over the past decade. While the company's 10-year median is 49.46 vs. the industry median of 54.14, On Holding AG has consistently been below 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 Days Payable for a Manufacturing - Apparel & Accessories company?
The median Days Payable among Manufacturing - Apparel & Accessories companies is 54.14, based on 1,020 companies in the industry. Companies in the top quartile (top 25%) have a Days Payable significantly above this median, while those in the bottom quartile fall well below. However, Days Payable should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. On Holding AG's current Days Payable of 47.34 is 12.6% below 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 Days Payable mean?
A high Days Payable can signal that a stock is expensive relative to its fundamentals. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on On Holding AG and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Days Payable is 54.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. On Holding AG's current Days Payable is 47.34, which is near median its own 10-year median of 49.46. 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 Days Payable is 47.34, which is near median its 10-year median of 49.46 and 12.6% below the Manufacturing - Apparel & Accessories industry median of 54.14. 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 Days Payable calculated?
Days Payable is calculated from a company's financial statements. For On Holding AG (HAM:49G), the current Days Payable is 47.34 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:
Days Payable: 47.34 (near median its 10-year median of 49.46)
GF Value™: €53.38 vs. price of €31.50 (41% below fair value)
Industry Position: 12.6% below the Manufacturing - Apparel & Accessories median (#555 of 1020)
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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