On Holding (ONON) Balance Sheet: Assets & Liabilities

On Holding (ONON) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), On Holding reported total assets of CHF 2.84B and total liabilities of CHF 1.20B. Shareholders' equity was CHF 1.63B, up 17.3% from CHF 1.39B a year earlier. Total debt stood at CHF 578.36M against CHF 1.08B in cash and short-term investments, a net cash position of CHF 499.84M. That puts debt-to-equity at 0.35, compared with 0.25 a year earlier.

On Holding Balance Sheet Analysis

Values in billions CHF

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for On Holding AG (ONON) - Annual data in billions CHF
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Current Assets
Cash and Cash Equivalents	1.02	0.92	0.49	0.37	0.65	0.09	0.01
Short-Term Investments	0.06	0.04	0.03	0.03	0.02	0.01	0.01
Cash & Short-Term Investments	1.08	0.97	0.53	0.40	0.68	0.10	0.02
Accounts Receivable	0.31	0.25	0.20	0.17	0.10	0.05	0.04
Inventory	0.42	0.42	0.36	0.40	0.13	0.10	0.04
Other Current Assets	0.05	0.13	0.01	0.08	0.05	0.03	0.02
Total Current Assets	1.96	1.76	1.15	1.05	0.96	0.28	0.12
Non-Current Assets
Property, Plant & Equipment (Net)	0.64	0.45	0.31	0.23	0.21	0.04	0.02
Goodwill	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Intangible Assets	0.05	0.06	0.06	0.07	0.06	0.05	0.00
Other Non-Current Assets	0.00	0.11	0.00	0.03	0.00	0.00	0.00
Total Non-Current Assets	0.87	0.62	0.44	0.33	0.27	0.10	0.02
Total Assets	2.84	2.38	1.59	1.38	1.24	0.38	0.14
Current Liabilities
Accounts Payable	0.15	0.17	0.07	0.11	0.05	0.04	0.02
Short-Term Debt	0.14	0.06	0.04	0.02	0.01	0.00	0.02
Accrued Liabilities	0.24	0.20	0.10	0.08	0.12	0.03	-
Other Current Liabilities	0.03	0.33	0.01	0.05	0.04	0.03	0.03
Total Current Liabilities	0.72	0.66	0.31	0.24	0.21	0.09	0.07
Non-Current Liabilities
Long-Term Debt	0.44	0.29	0.19	0.14	0.17	0.02	0.00
Deferred Tax Liabilities	0.01	0.00	0.01	0.02	0.01	0.00	0.00
Other Non-Current Liabilities	0.00	0.04	0.00	0.17	0.18	0.03	0.01
Total Non-Current Liabilities	0.48	0.32	0.21	0.17	0.18	0.05	0.01
Total Liabilities	1.20	0.98	0.52	0.41	0.39	0.14	0.08
Stockholders' Equity
Common Stock	0.03	0.03	0.03	0.03	0.03	0.00	0.00
Retained Earnings	0.38	0.23	-0.06	-0.14	-0.20	-0.03	0.00
Accumulated Other Comprehensive Income	1.24	0.40	1.13	0.31	0.00	0.10	0.02
Treasury Stock	0.03	0.03	0.03	0.03	0.03	-	-
Additional Paid-in Capital	-0.07	0.73	0.73	0.73	0.73	0.18	0.04
Shares Outstanding	0.33	0.32	0.32	0.32	0.31	-	-
Total Stockholders' Equity	1.63	1.39	1.07	0.97	0.85	0.25	0.06
Total Liabilities & Equity	2.84	2.38	1.59	1.38	1.24	0.38	0.14

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About On Holding Balance Sheet

How much debt does On Holding have?

On Holding had total debt of CHF 578.36M as of Dec 31, 2025, against CHF 1.08B in cash and short-term investments. Its debt-to-equity ratio was 0.35. Total debt was CHF 347.60M a year earlier.

What are On Holding's total assets?

On Holding reported total assets of CHF 2.84B as of Dec 31, 2025, up 19.3% from CHF 2.38B a year earlier. Total liabilities were CHF 1.20B.

What is On Holding's shareholders' equity?

On Holding's shareholders' equity was CHF 1.63B as of Dec 31, 2025, or about CHF 4.93 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition