On Holding AGHAM:49G +0.77%66 Quick Ratio is 2.39 as of Mar. 2026, which is 9% above its 10-year median of 2.20. 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 1,069 Manufacturing - Apparel & Accessories companies, On Holding AG ranks better than 80.17% on this metric.
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. It is calculated as a company's Total Current Assets excludes Total Inventories divides by its Total Current Liabilities. On Holding AG's quick ratio for the quarter that ended in Mar. 2026 was 2.39.
On Holding AG has a quick ratio of 2.39. It generally indicates good short-term financial strength.
The historical rank and industry rank for On Holding AG's Quick Ratio or its related term are showing as below:
HAM:49G'
s Quick Ratio Range Over the Past 10 Years
Min: 1.16 Med: 2.2 Max: 4.54
Current: 2.39
During the past 7 years, On Holding AG's highest Quick Ratio was 4.54. The lowest was 1.16. And the median was 2.20.
The quick ratio is more conservative than the Current Ratio because it excludes inventories from current assets. The ratio derives its name presumably from the fact that assets such as cash and marketable securities are quick sources of cash. Inventories generally take time to be converted into cash, and if they have to be sold quickly, the company may have to accept a lower price than book value of these inventories. As a result, they are justifiably excluded from assets that are ready sources of immediate cash.
In general, low or decreasing quick ratios generally suggest that a company is over-leveraged, struggling to maintain or grow sales, paying bills too quickly or collecting receivables too slowly. On the other hand, a high or increasing quick ratio generally indicates that a company is experiencing solid top-line growth, quickly converting receivables into cash, and easily able to cover its financial obligations. Such companies often have faster inventory turnover and cash conversion cycles.
The higher the quick ratio, the better the company's liquidity position.
On Holding AG Quick Ratio Related Terms
On Holding AG Quick Ratio Historical Data
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The historical data trend for On Holding AG's Quick 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: Quick Ratio Comparison
For the Footwear & Accessories subindustry, On Holding AG's Quick Ratio, along with its competitors' market caps and Quick 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 Quick Ratio vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, On Holding AG's Quick Ratio distribution charts can be found below:
* The bar in red indicates where On Holding AG's Quick Ratio falls into.
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. For this reason, the ratio excludes inventories from current assets.
On Holding AG's Quick Ratio 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 Quick Ratio of 2.39 as of Mar. 2026. Quick ratio is the ratio of current assets less inventory to current liabilities. View historical data on On Holding AG and its competitors. This is near median its historical median of 2.20. Over the past decade, On Holding AG's Quick Ratio has ranged from 1.16 to 4.54. According to the industry distribution chart, On Holding AG ranks #212 out of 1069 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 19.8%.
Is On Holding AG's Quick Ratio too high?
On Holding AG's current Quick Ratio of 2.39 is near median its 10-year median of 2.20. Over the past 10 years, this metric has ranged from a low of 1.16 to a high of 4.54. The Manufacturing - Apparel & Accessories industry median Quick Ratio is 1.10. On Holding AG's value of 2.39 is 117.3% above this industry median. Based on the distribution chart, On Holding AG ranks #212 out of 1069 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. 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 Quick Ratio compare to DECK and BIRK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, On Holding AG ranks #212 out of 1069 companies for Quick Ratio. This places On Holding AG in the top 20% of its industry — outperforming the majority of peers. The industry median Quick Ratio is 1.10. On Holding AG's value of 2.39 is 117.3% above this benchmark. Historically, On Holding AG's own Quick Ratio has ranged from 1.16 to 4.54 over the past decade. While the company's 10-year median is 2.20 vs. the industry median of 1.10, 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 Quick Ratio for a Manufacturing - Apparel & Accessories company?
The median Quick Ratio among Manufacturing - Apparel & Accessories companies is 1.10, based on 1,069 companies in the industry. Companies in the top quartile (top 25%) have a Quick Ratio significantly above this median, while those in the bottom quartile fall well below. However, Quick Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. On Holding AG's current Quick Ratio of 2.39 is 117.3% 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 Quick Ratio mean?
A high Quick Ratio can signal that a stock is expensive relative to its fundamentals. Quick ratio is the ratio of current assets less inventory to current liabilities. View historical data on On Holding AG and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Quick Ratio is 1.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. On Holding AG's current Quick Ratio is 2.39, which is near median its own 10-year median of 2.20. 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 Quick Ratio is 2.39, which is near median its 10-year median of 2.20 and 117.3% above the Manufacturing - Apparel & Accessories industry median of 1.10. 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 Quick Ratio calculated?
Quick Ratio is calculated from a company's financial statements. For On Holding AG (HAM:49G), the current Quick Ratio is 2.39 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:
Quick Ratio: 2.39 (near median its 10-year median of 2.20)
GF Value™: €53.38 vs. price of €31.50 (41% below fair value)
Industry Position: 117.3% above the Manufacturing - Apparel & Accessories median (#212 of 1069)
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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