WallStSmart

On Holding Ltd (ONON)vsRocky Brands Inc (RCKY)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

On Holding Ltd generates 538% more annual revenue ($3.22B vs $505.02M). ONON leads profitability with a 12.3% profit margin vs 5.7%. ONON appears more attractively valued with a PEG of 0.45. ONON earns a higher WallStSmart Score of 70/100 (B).

ONON

Strong Buy

70

out of 100

Grade: B

Growth: 8.7Profit: 7.0Value: 7.3Quality: 8.0
Piotroski: 5/9Altman Z: 2.80

RCKY

Strong Buy

68

out of 100

Grade: B-

Growth: 6.0Profit: 4.5Value: 6.0Quality: 8.0
Piotroski: 6/9Altman Z: 2.89
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

ONONUndervalued (+9.8%)

Margin of Safety

+9.8%

Fair Value

$50.24

Current Price

$27.41

$22.83 discount

UndervaluedFair: $50.24Overvalued
RCKYSignificantly Overvalued (-34.8%)

Margin of Safety

-34.8%

Fair Value

$24.34

Current Price

$44.19

$19.85 premium

UndervaluedFair: $24.34Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

ONON4 strengths · Avg: 9.5/10
PEG RatioValuation
0.4510/10

Growing faster than its price suggests

EPS GrowthGrowth
81.1%10/10

Earnings expanding 81.1% YoY

Return on EquityProfitability
20.8%9/10

Every $100 of equity generates 21 in profit

Debt/EquityHealth
0.299/10

Conservative balance sheet, low leverage

RCKY3 strengths · Avg: 10.0/10
P/E RatioValuation
11.3x10/10

Attractively priced relative to earnings

Price/BookValuation
1.3x10/10

Reasonable price relative to book value

EPS GrowthGrowth
281.3%10/10

Earnings expanding 281.3% YoY

Areas to Watch

ONON0 concerns · Avg: 0/10

No major concerns identified

RCKY4 concerns · Avg: 3.0/10
Market CapQuality
$324.40M3/10

Smaller company, higher risk/reward

Return on EquityProfitability
7.4%3/10

ROE of 7.4% — below average capital efficiency

Profit MarginProfitability
5.7%3/10

5.7% margin — thin

Operating MarginProfitability
2.4%3/10

Operating margin of 2.4%

Comparative Analysis Report

WallStSmart Research

Bull Case : ONON

The strongest argument for ONON centers on PEG Ratio, EPS Growth, Return on Equity. Revenue growth of 13.5% demonstrates continued momentum. PEG of 0.45 suggests the stock is reasonably priced for its growth.

Bull Case : RCKY

The strongest argument for RCKY centers on P/E Ratio, Price/Book, EPS Growth. Revenue growth of 12.0% demonstrates continued momentum. PEG of 1.17 suggests the stock is reasonably priced for its growth.

Bear Case : ONON

No major red flags identified for ONON, but monitor valuation.

Bear Case : RCKY

The primary concerns for RCKY are Market Cap, Return on Equity, Profit Margin.

Key Dynamics to Monitor

RCKY carries more volatility with a beta of 2.36 — expect wider price swings.

ONON is growing revenue faster at 13.5% — sustainability is the question.

ONON generates stronger free cash flow (201M), providing more financial flexibility.

Monitor FOOTWEAR & ACCESSORIES industry trends, competitive dynamics, and regulatory changes.

Bottom Line

ONON scores higher overall (70/100 vs 68/100) and 13.5% revenue growth. Both earn "Strong Buy" and "Strong Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

On Holding Ltd

CONSUMER CYCLICAL · FOOTWEAR & ACCESSORIES · USA

On Holding AG develops and distributes sports products worldwide. The company is headquartered in Zurich, Switzerland.

Rocky Brands Inc

CONSUMER CYCLICAL · FOOTWEAR & ACCESSORIES · USA

Rocky Brands, Inc. designs, manufactures and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh and Michelin brands licensed in the United States, Canada and internationally. The company is headquartered in Nelsonville, Ohio.

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