Nike (NKE) vs On (ONON)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
On (ONON) has outperformed Nike (NKE) over the past year, losing 22.0% versus a loss of 49.7%. Over five years, ONON leads with a +14.5% price change compared with -78.3% for NKE. Nike is the larger company by market cap ($51.60 billion vs $11.38 billion), about 4.5 times the size.
On valuation, On trades at a lower forward P/E (16.6x vs 20.4x for Nike). Nike pays a dividend yielding 4.72%, while On does not currently pay one.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | NKE | ONON |
|---|---|---|
| Share price | $34.74 | $34.04 |
| Market cap | $51.60B | $11.38B |
| 1-day change | +1.11% | +2.47% |
| YTD return | -45.47% | -26.76% |
| 1-year return | -49.72% | -21.96% |
| 5-year return | -78.25% | +14.54% |
| P/E ratio (TTM) | 16.70 | 22.10 |
| Forward P/E | 20.42 | 16.60 |
| EPS (TTM) | $2.08 | $1.54 |
| Dividend yield | 4.72% | 0.00% |
| Annual dividend | $1.64 | $0.00 |
| Revenue (latest FY) | $46.40B | — |
| Revenue growth (YoY) | +0.19% | — |
| Net income (latest FY) | $3.11B | — |
| Gross margin | 42.91% | — |
| Net margin | 6.70% | — |
| 52-week high | $70.44 | $51.08 |
| 52-week low | $31.97 | $26.37 |
| Distance from 52-week high | -50.68% | -33.36% |
| Analyst consensus | hold | buy |
| Avg. price target upside | +9.82% | +27.38% |
| Average volume | 30.97M | 8.87M |
| Shares outstanding | 1.20B | 301.72M |
| Employees | 73,000 | 3,963 |
| Sector | Consumer Discretionary | Consumer Discretionary |
| Industry | Shoe Manufacturing | Shoe Manufacturing |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Nike is about 4.5 times larger than On by market value ($51.60B vs $11.38B).
- ONON has outperformed NKE by 27.8 percentage points over the past year.
- On trades at a higher earnings multiple (22.1x vs 16.7x trailing P/E).
- Nike offers a meaningfully higher dividend yield (4.72% vs 0.00%).
About Nike
NKE stock →NIKE, Inc., together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services for men, women, and kids in North America, Europe, the Middle East, Africa, Greater China, the Asia Pacific, and Latin America. The company offers its products under the NIKE, Jordan, Converse, Jumpman, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.
Consumer Discretionary · Shoe Manufacturing · 73,000 employees
About On
ONON stock →On Holding AG, together with its subsidiaries, develops and distributes performance sports products under the On brand in Switzerland, the rest of Europe, the Middle East, Africa, the United States, the rest of the Americas, and the Asia-Pacific. The company offers athletic footwear, apparel, and accessories for performance running, performance outdoor, performance all day, performance training, performance tennis, and young movers.
Consumer Discretionary · Shoe Manufacturing · 3,963 employees
NKE vs ONON FAQ
Which is bigger, Nike or On?
Nike (NKE) is larger, with a market capitalization of $51.60B compared with $11.38B for On (ONON).
Which stock has performed better over the past year, NKE or ONON?
ONON returned -21.96% over the past 12 months, compared with -49.72% for NKE (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, NKE or ONON?
NKE has the lower trailing P/E at 16.7, versus 22.1 for ONON. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Nike or On?
Nike pays a dividend yielding 4.72%, while On does not currently pay a regular dividend.
Are Nike and On in the same industry?
Yes. Both are classified in the Shoe Manufacturing industry within the Consumer Discretionary sector.