On Holding Unveils Targets and Buyback Program at Investor Day
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What happened
On Holding held its Investor Day in Zurich on September 22, 2026, where the company laid out ambitious targets through 2029. These targets included achieving CHF 5.6 billion in net sales and establishing a gross margin above 65% and adjusted EBITDA margin above 22%. The company also announced a new $1 billion share buyback authorization through 2029.
Why it matters
The market reacted to the announcement, with On Holding shares up 13% in Tuesday morning trading. However, analyst skepticism emerged regarding the targets, with Jefferies noting the goals 'raise the bar, they do not reset it.' Concerns were raised about the company's reliance on paid traffic and slowing growth rates.
Who's involved
- ZurichCompany whose targets and buyback program were announced
How it developed
Newest first. Tap a step to see who reported it.On Holding held its Investor Day in Zurich.1 source
Analyst skepticism regarding targets emerged during On Holding's Investor Day.1 source
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The entities involved
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Zurich
most populous city in Switzerland and capital of the canton of Zurich