On Holding's (NYSE: ONON) share price has struggled amid fears of slowing growth, valuation concerns, and the impact of tariffs, but the selling is coming to an end. Q4 2025 results were strong, with growth holding up across channels and categories. While 2026 guidance fell short of the consensus, the company forecasts another strong year, and analysts expect outperformance.
The analysts’ response suggests that the guidance miss is deliberate; the company typically sets a low target and easily surpasses it. As it stands, On Holdings expects to sustain a solid 20%+ growth pace in the coming year, driven by strengths in all segments and retail categories.
