On Holding reported full-year 2025 earnings on March 3, achieving record net sales exceeding CHF 3 billion. This performance represents a 30% year-over-year increase. Despite the record results, shares opened more than 11% lower on the day of the announcement.
Investor concern centered on the fiscal year 2026 forecast of at least 23% growth, totaling CHF 3.44 billion. This projection fell short of the CHF 3.75 billion anticipated by analysts.
Market sentiment stabilized by the end of the week as analysts labeled the sell-off a buying opportunity. Experts noted the company’s history of issuing conservative guidance that it frequently surpasses. Analysts maintained a Moderate Buy rating, citing strong fundamentals and consistent growth across all channels. Increasing institutional ownership continues to provide a solid support base for the stock.