On Holding is projected to report Q3 2026 revenue of CHF 947.6 million and EPS of CHF 0.35, with the stock currently at $37.34 against an average analyst target of $46.80. The primary focus for investors is the Direct-to-Consumer (DTC) sales mix and its effectiveness in sustaining gross margins above the 65% threshold.
Analysts are monitoring the brand's rapid expansion into the apparel category and its performance in the Asia-Pacific region, which has recently shown standout momentum. Additionally, the market will scrutinize management's deliberate strategy to limit wholesale sell-ins to preserve premium brand positioning and ensure full-price selling discipline.