ON Holding AG vs Spotify Technology — how do they compare? ON Holding AG trades at $36.73 (market cap $12.41B), while Spotify Technology trades at $475 (market cap $101.42B). The key difference: Spotify Technology is far larger — about 8.2× ON Holding AG's market cap. Which is the better fit depends on your goals.
| ONON | SPOT | |
|---|---|---|
Market Cap | $12.41B | $101.42B |
Sector | Technology | Media |
52-Week High | $51.75 | $738.53 |
52-Week Low | $31.88 | $412.75 |
Enterprise Value | $11.73B | $91.98B |
Signals from Pluang's Aura AI — not financial advice
ONON trades at $37.65, up 1.21% today, with a bullish technical trend and strong support at $37. The company shows robust fundamentals with Q1 2026 EPS of $0.47 beating expectations, revenue of $3.01B in 2025, and a net income margin of 8.02%. Analyst sentiment is highly positive, with 76.92% recommending Buy and a consensus price target of $47.33, indicating significant upside potential from current levels.
Outlook remains favorable driven by earnings beats and margin expansion, but risks include high valuation multiples like a P/E of 40.62 and competitive pressures in the athletic apparel sector. The stock's growth trajectory hinges on sustaining innovation and market share gains amid economic uncertainties.
Spotify (SPOT) trades at $493.23, up 3.16% today, showing strong momentum with consistent earnings beats in recent quarters. The stock exhibits bullish technical signals with support at $481 and resistance at $500. Fundamentally, revenue grew to $17.19B in 2025 with net income surging to $2.21B, reflecting improved profitability. Recent developments include AI feature expansions and parent-managed accounts for free users, enhancing growth prospects.
Outlook remains positive with analyst consensus target at $617, though rich valuation (P/E 33.54) and competition pose risks. Earnings growth and AI integration present opportunities, but investors should monitor execution against high expectations and market volatility.
Trailing returns across standard periods
ON Holding AG is a Swiss sports company primarily known for its high-performance running shoes, apparel, and accessories under the 'On' brand. The company emphasizes a blend of high-end design, proprietary cloud technology (like CloudTec cushioning), and sustainability in its products. On has rapidly gained market share globally, appealing to both competitive athletes and general consumers in the performance and lifestyle footwear segments.
Read more on ONON →Spotify Technology S.A. provides music streaming services. The Company offers commercial-free music and ad-supported services to subscribers. Spotify Technology serves clients worldwide.
Read more on SPOT →