Home Stock Ideas Long Ideas Consumer  Summary On Holding is rated a buy, with fundamentals strong despite recent stock declines driven by FX losses and CEO transition. ONON delivered record revenue (CHF 3B), gross margin (62.8%), and adjusted EBITDA (CHF 567M), with robust DTC and Asia-Pacific growth. Valuation is attractive at 13x EV/forward EBITDA and 3x forward sales, with scenario analysis supporting a fair value in the high $40s. Key catalysts include Q1'26 earnings under new co-CEOs, Asia-Pacific expansion, and scaling of LightSpray manufacturing technology. Edwin Tan/E+ via Getty Images Why The Recent Selloff Deserves a Closer Look On Holding ( ONON ) fell roughly 27% in the last year, even with the business delivering strong growth. The Swiss athletic footwear company was founded in Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours.…