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Amer Sports vs On Holding: Which Stock Looks Stronger in 2026?

Amer Sports holds the cleaner structural position, with the lead spread across growth and stability. On does not offset that deficit through any equally strong structural edge elsewhere. Both sides have seen trend damage — neither carries a clear market edge right now. With both trends damaged, the structural comparison carries most of the weight here.

The comparison is based on similar long-term financial trajectories, not sector labels.

Updated 2026-04-05

The lead is spread across growth and stability, rather than sitting in one isolated gap. The overall score gap is 15 points in favour of Amer Sports, Inc..

Trajectory Similarity
0.79
Similar
Peer-set rank: #2
within Amer Sports, Inc.'s functional peer set

These two companies are linked by measured long-term financial trajectory similarity within the selected peer universe.

This level of similarity signals a strong structural match, even though some dimensions still separate the two companies.

The match is driven mainly by investment intensity and recent revenue growth.

Similarity drivers
investment intensityrecent revenue growth
How to read the score
0.85–1.00 · Very similar0.70–0.84 · Similar0.55–0.69 · Moderately similarbelow 0.55 · Loose match
Peer-Relative Score
AS
Amer Sports, Inc.
41
Peer-Score
Signal qualityMedium
vs
ONON
On Holding AG
26
Peer-Score
Signal qualityMedium

Scores reflect position relative to comparable companies with similar long-term financial trajectories.

Score differences across key dimensions.

Dimension spread: AS vs ONON Profitability 3 10 Stability 40 8 Valuation 40 38 Growth 100 50 AS ONON
Gap Ranking
#1 Growth +50
#2 Stability +32
#3 Profitability +7
#4 Valuation +2
Price Setup

Left means cheaper relative valuation. Higher means stronger structure.

Price setup map for AS and ONON Stronger + cheaper Stronger + richer Weaker + cheaper Weaker + richer ASONON Relative valuation Structural strength

The setup stays mixed because structure and the price setup do not align cleanly in one direction.

Valuation position uses peer-relative PE percentile (idx_pct_pe) where available.

Relative Position vs Comparable Companies
Growth
Both rank well on growth, but Amer Sports, Inc. still holds a clear edge.
Stability
Amer Sports, Inc. holds the stronger peer position on stability.
Growth — Dominant Gap
AS
100
ONON
50
Gap+50in favour of AS

Earnings growth is one contributing factor within the growth lead.

What else supports the lead

Stability adds another layer of support rather than leaving the result tied to growth alone.

What this means for the comparison

The lead is built on both growth and stability, making it broader than a single-dimension result.

Explore full peer positioning in AssetNext

Break down the AS vs ONON comparison across all dimensions with the full interactive tool.

Explore full breakdown →
Similar growth-and-stability comparisons

Explore how AS and ONON each compare against other companies in their peer groups.

Rule-based, descriptive analysis only. Derived from peer percentile dimensions. Not investment advice. Peer groups are determined algorithmically based on structural similarity — not by sector classification alone.

How AssetNext Peer Scores Work

AssetNext scores reflect each company's structural position within its functional peer group — not a ranking against all stocks simultaneously. Peers are identified by similarity across eight financial dimensions, including revenue growth trajectory, margin structure, capital intensity, and earnings stability. A score of 75 means the company ranks in the top quartile within its own peer group, not the entire market.

Four dimension scores drive the overall peer score: Growth (revenue trajectory and expansion dynamics), Quality (margin structure and capital efficiency), Valuation (peer-relative pricing on standard multiples), and Stability (earnings consistency and financial predictability). Each dimension is scored 0–100 relative to the peer group, then combined into an overall peer score using equal weighting.

Scores are recalculated periodically as underlying financial data is updated. All analysis is descriptive and rule-based — AssetNext describes structural realities and never issues buy, sell or hold recommendations.