COMPARE · Reviewed July 29, 2026
DECK vs ONON
Verdict: Side-by-side breakdown using the Bull Rankings model. DECK scored 79.2, ONON scored 73.1 — DECK leads.
Compare another set
DECK
Deckers Outdoor Corporation
79.2
$103.54 · $14.1B
fundamentals as of
Score gap
6.1
DECK leads
ONON
On Holding AG
73.1
$37.91 · $12.6B
fundamentals as of
The model, pillar by pillar (0–100 each)
DECK
stronger →← stronger
ONON
95
Qualityreturns · margins · balance sheet
71
84
Growthrevenue & earnings expansion
100
62
Valuevaluation vs sector peers
64
ONON is stronger on 2 of 3 pillars.
Fundamentals, head-to-head
DECK
ONON
$1.1bC+
FCF
$388mC
+9.8%B
Rev
+30.0%A
0.21A-
D/E
0.31A-
14.7xA-
P/E
41.2xC
1.21B
PEG
0.73A-
Winner per row is the stronger grade in our model; a tie or a missing value shows no highlight.
Valuation · DCF cross-check
DECK
ONON
17% below
Price vs fair valuelower is cheaper
152% above
~3%/yr
Growth the price implies10-yr FCF · lower = less priced in
~41%/yr
+9%
1-yr DCF upside
-69%
+21%
5-yr DCF upside
-60%
+39%
10-yr DCF upside
-46%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
DECK
Why this score
- Buying back stock
- Durable high returns
ONON
Why this score
- Durable high returns
- Diluting shareholders
- Foreign reporter (CHF)
The companies
DECKDeckers Outdoor Corporation
Why now
Footwear & Accessories · market cap $14.1b. 17% off the 52-week high of $125.45. 21 sell-side analysts rate this a Buy with a mean 1-yr target of $122.81 (implying +19% upside).
Moat
Net margin 19% beats the market median by a meaningful margin — the company is keeping more of every revenue dollar than the average S&P constituent. ROE 41% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. FCF converts 107% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined.
Risk
Value re-rating depends on a catalyst. Without one — analyst day, divestiture, margin recovery, capital return — the stock can stay cheap on these multiples for years.
ONONOn Holding AG
Why now
Footwear & Accessories · market cap $12.6b. Down 27% from 52-week high of $52.20 — deep drawdown territory. Revenue growing +30% — in hypergrowth territory. PEG 0.73 — paying under fair value for the growth rate. 27 sell-side analysts rate this a Buy with a mean 1-yr target of $51.98 (implying +37% upside).
Moat
ROE 12% meets the long-run market sustainable threshold — solid but not differentiated; the durability comes from elsewhere. FCF converts 126% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined.
Risk
Beta 2.12 implies above-market volatility — position-size to the drawdowns this name will produce in a market correction, not to its bull-case return. Trailing P/E 41x sits well above the S&P median (~20x) — multiple compression is a real risk if revenue growth decelerates.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.