ONON (On Holding AG) Inventory Turnover: 0.73 (As of Mar. 2026)


ONON On Holding AG ONON
85 GF Score
Price $37.20
GF Value $62.77
Valuation Significantly Undervalued
! 2 Warning Signs
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What is On Holding AG Inventory Turnover?

On Holding AG ONON +1.00% 85 Inventory Turnover is 0.73 as of Mar. 2026. GuruFocus rates ONON with a GF Score™ of 85/100 and a GF Value™ of $62.77 (Significantly Undervalued). The stock has 2 warning signs investors should review.

Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. On Holding AG's Cost of Goods Sold for the three months ended in Mar. 2026 was $378 Mil. On Holding AG's Average Total Inventories for the quarter that ended in Mar. 2026 was $521 Mil. On Holding AG's Inventory Turnover for the quarter that ended in Mar. 2026 was 0.73.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. On Holding AG's Days Inventory for the three months ended in Mar. 2026 was 125.83.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. On Holding AG's Inventory-to-Revenue for the quarter that ended in Mar. 2026 was 0.49.

On Holding AG  (NYSE:ONON) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

On Holding AG's Days Inventory for the three months ended in Mar. 2026 is calculated as:

Days Inventory =Average Total Inventories (Q: Mar. 2026 )/Cost of Goods Sold (Q: Mar. 2026 )*Days in Period
=521.239/378*365 / 4
=125.83

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

On Holding AG's Inventory to Revenue for the quarter that ended in Mar. 2026 is calculated as

Inventory-to-Revenue=Average Total Inventories (Q: Mar. 2026 ) / Revenue (Q: Mar. 2026 )
=521.239 / 1056.649
=0.49

* 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.

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

On Holding AG Inventory Turnover Related Terms

On Holding AG Inventory Turnover Historical Data

* Premium members only.

The historical data trend for On Holding AG's Inventory Turnover 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.

On Holding AG Inventory Turnover Chart

On Holding AG Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Inventory Turnover
Get a 7-Day Free Trial 2.44 2.02 2.00 2.32 2.82

On Holding AG Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Inventory Turnover Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.72 0.79 0.74 0.67 0.73
ONON
85GF Score
On Holding AG ONON
Inventory Turnover is just one metric. See GF Score™, valuation, warning signs, and more.
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On Holding AG Inventory Turnover Calculation

On Holding AG's Inventory Turnover for the fiscal year that ended in Dec. 2025 is calculated as

Inventory Turnover (A: Dec. 2025 )
=Cost of Goods Sold / Average Total Inventories
=Cost of Goods Sold (A: Dec. 2025 ) / ((Total Inventories (A: Dec. 2024 ) + Total Inventories (A: Dec. 2025 )) / count )
=1405.948 / ((470.166 + 526.791) / 2 )
=1405.948 / 498.4785
=2.82

On Holding AG's Inventory Turnover for the quarter that ended in Mar. 2026 is calculated as

Inventory Turnover (Q: Mar. 2026 )
=Cost of Goods Sold / Average Total Inventories
=Cost of Goods Sold (Q: Mar. 2026 ) / ((Total Inventories (Q: Dec. 2025 ) + Total Inventories (Q: Mar. 2026 )) / count )
=378 / ((526.791 + 515.687) / 2 )
=378 / 521.239
=0.73

* 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.

Frequently Asked Questions Learn more about Inventory Turnover →
What does a Inventory Turnover of 0.73 mean?
On Holding AG (ONON) has a Inventory Turnover of 0.73 as of Mar. 2026. Inventory turnover equals current-period cost of goods sold divided by average two-period total inventories. View historical data on On Holding AG and its competitors.
Is On Holding AG's Inventory Turnover too high?
On Holding AG's current Inventory Turnover is 0.73. Overall, On Holding AG has a GF Score™ of 85/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does On Holding AG's Inventory Turnover compare to DECK and BIRK?
On Holding AG's Inventory Turnover of 0.73 can be compared against companies in the Manufacturing - Apparel & Accessories industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Inventory Turnover for a Manufacturing - Apparel & Accessories company?
A good Inventory Turnover depends on the Manufacturing - Apparel & Accessories industry context. However, Inventory Turnover should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Inventory Turnover mean?
A high Inventory Turnover can signal that a stock is expensive relative to its fundamentals. Inventory turnover equals current-period cost of goods sold divided by average two-period total inventories. View historical data on On Holding AG and its competitors. On Holding AG's current Inventory Turnover is 0.73. 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 (ONON) is currently considered Significantly Undervalued. The stock's GF Value™ is $62.77, compared to a current price of $37.20 — trading 40.7% below its estimated fair value. The current Inventory Turnover is 0.73. On Holding AG's overall GF Score™ is 85/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Inventory Turnover calculated?
Inventory Turnover is calculated from a company's financial statements. For On Holding AG (ONON), the current Inventory Turnover is 0.73 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 (ONON) Overvalued in 2026?

Based on GuruFocus' analysis, On Holding AG stock appears to be undervalued. The current stock price of $37.20 is trading 40.7% below its estimated GF Value™ of $62.77. GuruFocus considers On Holding AG to be Significantly Undervalued.

Key valuation signals for ONON:

  • Inventory Turnover: 0.73
  • GF Value™: $62.77 vs. price of $37.20 (40.7% below fair value)
  • GF Score™: 85/100 with 2 warning signs

No single metric tells the full story. See the ONON stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

On Holding AG Business Description

Address Forrlibuckstrasse 190, Zurich, CHE, 8005
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.
85GF Score

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Inventory Turnover is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$37.20
Price
$62.77
GF Value