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Stock Comparison · Structural lead, mixed market

Lottomatica Group S.p.A. vs On Holding: Which Stock Looks Stronger in 2026?

Lottomatica S.p.A holds the cleaner structural position, with stability as the main driver and growth adding further support. On still has the edge on profitability, which keeps the comparison from looking entirely one-sided. The market setup broadly confirms the structural lead — Lottomatica S.p.A holds the more constructive position. That puts structure and market broadly in agreement — Lottomatica S.p.A's lead looks more confirmed than conflicted.

The comparison is based on similar long-term financial trajectories, not sector labels. Peer scores are normalised within each company's primary universe (LTMC.MI: STOXX 600, ONON: Russell 1000).

Updated 2026-08-16

The result is anchored in stability, but growth also reinforces the same direction. Lottomatica Group S.p.A. leads by 9 points on the overall comparison score.

Trajectory Similarity
0.67
Moderately similar
Peer-set rank: #9
within Lottomatica Group S.p.A.'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 points to a meaningful structural match, though not a tight one.

The clearest structural overlap shows up in margin consistency and revenue stability.

Similarity drivers
margin consistencyrevenue stability
What reduces the match
revenue growth trajectory
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
LTMC.MI
Lottomatica Group S.p.A.
58
Peer-Score
Signal qualitylow
Peer basis: STOXX 600
vs
ONON
On Holding AG
49
Peer-Score
Signal qualityMedium
Peer basis: Russell 1000

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

The largest gaps do not all point in the same direction.

Dimension spread: LTMC.MI vs ONON Profitability 51 65 Stability 76 32 Valuation 54 49 Growth 56 41 LTMC.MI ONON
Gap Ranking
#1 Stability +44
#2 Growth +15
#3 Profitability +14
#4 Valuation +5
Price Setup

Left means cheaper relative valuation. Higher means stronger structure.

Price setup map for LTMC.MI and ONON Stronger + cheaper Stronger + richer Weaker + cheaper Weaker + richer LTMC.MIONON Relative valuation Structural strength

Lottomatica Group S.p.A. looks stronger on relative valuation, while the broader price setup remains mixed.

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

Entry today — historical context

Where LTMC.MI and ONON each sit in their own 3.3-year price and valuation history.

BASED ON 3.3-YEAR HISTORY LTMC.MI Elevated · below norm 0th 50th 100th 50 pct gap ONON Neutral · below norm 0th 50th 100th 90th 39th
Today ONON sits in the lower-middle of its own 5-year history (39th percentile), while LTMC.MI sits higher in its own history (90th). Within each stock's own 5-year context, ONON is at a historically more favourable entry position than LTMC.MI. This reflects entry timing, not which company is structurally stronger — peer-relative analysis is a separate question addressed above.

Describes historical entry positioning only. Descriptive — not investment advice.

Relative Position vs Comparable Companies
Stability
On stability, Lottomatica Group S.p.A. ranks near the top of the group; On Holding AG sits in the weaker half.
Growth
On growth, the edge still sits with Lottomatica Group S.p.A., even though both profiles look solid.
Stability — Dominant Gap
LTMC.MI
76
ONON
32
Gap+44in favour of LTMC.MI

The stability gap is very wide, with the stronger side looking materially steadier through time.

What keeps the gap from being one-sided

On Holding AG still carries lower volatility exposure — that difference is real enough to prevent the comparison from becoming one-sided.

What this means for the comparison

Stability is the clearest driver of the lead, with growth adding further support — though profitability still provides a real counterweight.

Explore full peer positioning in AssetNext

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

Explore full breakdown →
Similar stability-driven comparisons

Explore how LTMC.MI 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.

Because scores are peer-relative, the same company can have slightly different scores in different index universes. On comparison pages, both companies are shown within their shared peer universe wherever possible — so the scores are directly comparable. The peer basis is stated on each score card.

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.