On Holding AG income statement

In fiscal 2025, On Holding AG reported revenue of $3.64bn, up 38.1% on the year before, operating income of $455m (a 12.5% margin) and net income of $246m. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

On Holding AG: income statement, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Revenue	269	453	793	1,281	1,996	2,633	3,638
Cost of revenue	125	207	322	563	807	1,037	1,352
Gross profit	144	246	471	718	1,189	1,597	2,286
Research and development	—	2	6	9	10	11	13
Selling and marketing	29	54	105	158	267	327	390
Operating income	6	−18	−154	89	201	240	455
Interest expense	0	0	3	4	7	17	26
Income before tax	3	−26	−175	82	77	318	248
Income tax	5	3	12	21	−12	42	2
Net income	−1	−29	−186	60	89	275	246

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from On Holding AG's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to On Holding AG.