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Retained earnings is the accumulated portion of net income that is not distributed to shareholders. On Holding AG's retained earnings for the quarter that ended in Mar. 2026 was $617 Mil.
On Holding AG's quarterly retained earnings
increased
from Sep. 2025 ($394 Mil) to Dec. 2025 ($480 Mil) and
increased
from Dec. 2025 ($480 Mil) to Mar. 2026 ($617 Mil).
On Holding AG's annual retained earnings
increased
from Dec. 2023 ($-73 Mil) to Dec. 2024 ($201 Mil) and
increased
from Dec. 2024 ($201 Mil) to Dec. 2025 ($480 Mil).
On Holding AG (NYSE:ONON) Retained Earnings Explanation
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
On Holding AG Retained Earnings Historical Data
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The historical data trend for On Holding AG's Retained Earnings 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.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
On Holding AG (ONON) has a Retained Earnings of $617 Mil as of Mar. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on On Holding AG and its competitors.
Is On Holding AG's Retained Earnings too high?
On Holding AG's current Retained Earnings is $617 Mil. 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 Retained Earnings compare to DECK and BIRK?
On Holding AG's Retained Earnings of $617 Mil 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 Retained Earnings for a Manufacturing - Apparel & Accessories company?
A good Retained Earnings depends on the Manufacturing - Apparel & Accessories industry context. However, Retained Earnings 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 Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on On Holding AG and its competitors. On Holding AG's current Retained Earnings is $617 Mil. 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 $62.93, compared to a current price of $35.71 — trading 43.3% below its estimated fair value. The current Retained Earnings is $617 Mil. 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 Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For On Holding AG (ONON), the current Retained Earnings is $617 Mil 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 $35.71 is trading 43.3% below its estimated GF Value™ of $62.93.
GuruFocus considers On Holding AG to be Significantly Undervalued.
Key valuation signals for ONON:
Retained Earnings: $617 Mil
GF Value™: $62.93 vs. price of $35.71 (43.3% below fair value)
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.
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
Get the complete analysis for ONON
Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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