Is ONON halal?
On Holding AG
Halal
On Holding AG passed every check under AAOIFI Shariah standard No. 21: no prohibited business activity, and all three financial ratios are within limits.
Checked: 15 October 2026
Exchange
NYSE
Price
34.75
Day
-1.25%
Market cap
$11.88B
Industry
Footwear & Accessories
Sector
Consumer Cyclical
What the company does
On (Switzerland) is a premium running-shoe and sportswear brand (CloudTec soles). Its money comes from wholesale retailers and its own site/stores; manufacturing is in Vietnam/Indonesia.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
No prohibited activity
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $679.44M ÷ 36-month average market cap $12.97B = 5.2%
5.2%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $1.52B ÷ 36-month average market cap $12.97B = 11.7%
11.7%
Pass
Non-compliant income / total revenue
limit 5%
Interest income $37.32M ÷ annual revenue $3.64B (2025) = 1.0%
1.0%
Pass
Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict. Today's market cap: $11.88B.
For information (AAOIFI 3/1 note): cash + receivables are 53.6% of total assets (2026-06-30). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.
In the lists
- In the S&P 500
- Not in the S&P 500
- Among halal stocks
- 0.02% · #381 of 1454
- Held by funds
- Not held by any tracked fund
Superinvestors
SEC 13F, 2026 Q3. Up to 45 days delayed.Held by 4 superinvestors · Average reported price: $35.42
- Stephen MandelLone Pine Capital$470.4M2.9%
- Bill & Melinda Gates Foundation Trust$17.7M0.1%
- Polen Capital Management$2.1M0.0%
- First Eagle Investment Management$27K0.0%
Halal stocks in the same industry
The largest halal stocks in Footwear & Accessories — for comparison.
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Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.