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GIL vs ONON
Which Stock Would AI Choose? Gildan Activewear (GIL) vs. On Holding (ONON) Stock Comparison
Key Takeaways
- GIL is a vertically integrated manufacturer of basic apparel, while ONON is a premium athletic footwear and apparel brand — two very different business models within the same broad apparel sector.
- GIL is navigating the integration of its HanesBrands acquisition alongside a short-seller report and a related securities class action, which have pressured sentiment in recent months.
- ONON continues to deliver double-digit sales growth and industry-leading gross margins, backed by strong direct-to-consumer momentum and new category expansion.
- Both stocks have underperformed the broader market in 2026, reflecting distinct headwinds: integration and governance concerns for GIL, and valuation and wholesale friction for ONON.
- The relative comparison hinges on value, scale and margin risk (GIL) versus premium pricing power and growth durability (ONON).
Introduction
Investors evaluating the apparel industry often confront two fundamentally different ways to participate in it. GIL (Gildan Activewear) represents the value and scale end of the market as a vertically integrated maker of everyday basics such as t-shirts, underwear and socks. ONON (On Holding) sits at the premium, brand-driven end as a fast-growing Swiss sportswear company. This stock comparison is most relevant to traders and investors weighing a lower-multiple, cash-generative manufacturer against a higher-growth, higher-multiple consumer brand. Examining their recent market positioning, growth drivers and risk profiles offers a clearer view of how each stock behaves in the current environment.
GIL Overview and Recent Performance
Gildan Activewear is a Canadian-headquartered manufacturer of basic apparel, operating vertically integrated facilities primarily across Central America, the Caribbean, North America and Asia. In December 2025 the company completed its acquisition of HanesBrands, a transformative deal that roughly doubled its revenue base and brought iconic brands such as Hanes and Champion (under license for the printwear channel) into its portfolio.
Recent market activity has been volatile. The company's first-quarter results showed net sales rising sharply to approximately $1.17 billion, driven by the consolidation of HanesBrands, though the period produced a net loss as higher selling, general and administrative (SG&A) expenses, financing costs and integration charges weighed on results. Management reiterated full-year revenue guidance in the $6.0 billion to $6.2 billion range. In June, however, a short-seller report alleging channel-stuffing practices triggered a sharp single-day decline, and a securities class action was subsequently filed. These developments, combined with signs of softening activewear demand, have pressured sentiment, leaving the stock trading well below its year-start levels despite a consensus "Buy" rating and a dividend that was recently raised by 10%.
ONON Overview and Recent Performance
On Holding is a Swiss premium sportswear company co-founded with tennis champion Roger Federer, known for its CloudTec cushioning technology and disciplined full-price selling strategy. The company generates revenue through a fast-growing direct-to-consumer (DTC) channel and a wholesale network, with footwear as its largest category and apparel expanding rapidly.
Recent performance has been characterized by resilient top-line growth and exceptional profitability. In its latest reported quarters, On delivered double-digit net sales growth on a constant-currency basis, with gross margin expanding to roughly 65% — a level well above many larger competitors. The DTC business has been a standout, reaching close to 46% of total net sales, while the Asia-Pacific region has grown at a notably faster pace than other regions. During a recent Investor Day, management outlined targets of at least CHF 5.6 billion in revenue by 2029, a gross margin of 65% or higher, and its first-ever share buyback of up to $1 billion. Despite this momentum, the stock has faced pressure in 2026, partly reflecting a second-quarter revenue miss, softer U.S. wholesale trends and concerns about the cost of expanding into new categories such as soccer.
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Head-to-Head Comparison
The clearest contrast between these two stocks is their business model and margin structure. GIL competes on cost and scale, operating a vertically integrated manufacturing base that prioritizes efficiency and high-volume basics. ONON competes on brand desirability and pricing power, sustaining a premium average selling price and minimal discounting.
Growth drivers also diverge. GIL's near-term story is dominated by synergy capture from the HanesBrands integration, a sizable expected tariff refund and deleveraging — factors more operational than brand-led. ONON's growth rests on DTC expansion, international penetration and entry into apparel, soccer and golf, alongside partnerships with high-profile athletes.
Risk factors are equally distinct. GIL faces integration execution risk, governance scrutiny tied to the short-seller allegations and softening demand in core activewear channels. ONON carries valuation risk, exposure to U.S. wholesale softness and the uncertain returns from costly marketing and new-category investments. In terms of market positioning, GIL trades at a lower valuation with a dividend, appealing to value-oriented investors, while ONON offers growth and margin quality at a premium multiple, appealing to momentum- and quality-focused investors.
Tickeron AI Verdict
Based on observable factors, Tickeron's AI would likely show a more favorable relative posture toward ONON in the current environment. The company's trend consistency — steady double-digit sales growth, expanding gross margins and a disciplined full-price model — contrasts with GIL's more uneven recent trajectory, which has been disrupted by integration noise and governance-related headline risk. On's clearly defined long-term targets, strong DTC momentum and newly authorized buyback provide more visible catalysts, whereas Gildan's near-term catalysts are partially offset by litigation and demand uncertainty. That said, the relative positioning is not absolute: GIL's lower valuation and cash-generation profile could prove more defensive if the macro environment weakens. A probabilistic assessment would favor ONON for trend and growth quality, while acknowledging GIL's appeal as a deeper-value, income-generating alternative.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is GIL is a Hold and ONON is a StrongBuy.
GIL's RSI Indicator ascending out of oversold territory
The RSI Indicator for GIL moved out of oversold territory on October 06, 2026. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 30 similar instances when the indicator left oversold territory. In 24 of the 30 cases the stock moved higher. This puts the odds of a move higher at 80%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.
The Moving Average Convergence Divergence (MACD) for GIL just turned positive on October 08, 2026. Looking at past instances where GIL's MACD turned positive, the stock continued to rise in 30 of 46 cases over the following month. The odds of a continued upward trend are 65%.
Following a +0.62% 3-day Advance, the price is estimated to grow further. Considering data from situations where GIL advanced for three days, in 205 of 322 cases, the price rose further within the following month. The odds of a continued upward trend are 64%.
GIL may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on October 20, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on GIL as a result. In 55 of 90 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 61%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where GIL declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 64%.
The Aroon Indicator for GIL entered a downward trend on October 07, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is 2 (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Seasonality Score of 75 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Price Growth Rating for this company is 78 (best 1 - 100 worst), indicating slightly worse than average price growth. GIL’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 85 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. GIL’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 93, placing this stock better than average.
The Tickeron SMR rating for this company is 88 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of 92 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.235) is normal, around the industry mean (2.700). GIL's P/E Ratio (79.039) is considerably higher than the industry average of (14.111). Projected Growth (PEG Ratio) (0.385) is also within normal values, averaging (0.686). Dividend Yield (0.025) settles around the average of (0.120) among similar stocks. GIL's P/S Ratio (1.662) is slightly higher than the industry average of (0.827).
ONON in upward trend: price rose above 50-day moving average on October 05, 2026
ONON moved above its 50-day moving average on October 05, 2026 date and that indicates a change from a downward trend to an upward trend. In 40 of 50 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are 80%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The 10-day moving average for ONON crossed bullishly above the 50-day moving average on October 07, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 12 of 18 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 67%.
Following a +1.93% 3-day Advance, the price is estimated to grow further. Considering data from situations where ONON advanced for three days, in 208 of 283 cases, the price rose further within the following month. The odds of a continued upward trend are 73%.
The Aroon Indicator entered an Uptrend today. In 114 of 192 cases where ONON Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 59%.
Bearish Trend Analysis
The 10-day RSI Indicator for ONON moved out of overbought territory on October 21, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 33 similar instances where the indicator moved out of overbought territory. In 25 of the 33 cases, the stock moved lower in the following days. This puts the odds of a move lower at 76%.
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In 52 of 60 cases where ONON's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 87%.
The Momentum Indicator moved below the 0 level on October 22, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on ONON as a result. In 77 of 90 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 86%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ONON declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 79%.
ONON broke above its upper Bollinger Band on October 09, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
The Tickeron SMR rating for this company is 40 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is 44 (best 1 - 100 worst), indicating steady price growth. ONON’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of 61 (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: ONON's P/B Ratio (5.983) is slightly higher than the industry average of (2.954). ONON has a moderately high P/E Ratio (28.517) as compared to the industry average of (12.630). Projected Growth (PEG Ratio) (0.478) is also within normal values, averaging (0.949). ONON has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.022). ONON's P/S Ratio (4.439) is very high in comparison to the industry average of (1.252).
The Tickeron PE Growth Rating for this company is 94 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. ONON’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 90, placing this stock worse than average.
GIL | ||
|---|---|---|
OUTLOOK RATING 1..100 | 9 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 92 Overvalued | |
PROFIT vs RISK RATING 1..100 | 85 | |
SMR RATING 1..100 | 88 | |
PRICE GROWTH RATING 1..100 | 78 | |
P/E GROWTH RATING 1..100 | 2 | |
SEASONALITY SCORE 1..100 | 75 |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
| GIL | ONON | |
|---|---|---|
| RSI ODDS (%) | 1 day ago 80% | 1 day ago 76% |
| Stochastic ODDS (%) | 1 day ago 67% | 1 day ago 87% |
| Momentum ODDS (%) | 1 day ago 61% | 1 day ago 86% |
| MACD ODDS (%) | 1 day ago 65% | N/A |
| TrendWeek ODDS (%) | 1 day ago 67% | 1 day ago 81% |
| TrendMonth ODDS (%) | 1 day ago 66% | 1 day ago 72% |
| Advances ODDS (%) | 11 days ago 64% | 3 days ago 73% |
| Declines ODDS (%) | 4 days ago 64% | 1 day ago 79% |
| BollingerBands ODDS (%) | 1 day ago 77% | 1 day ago 84% |
| Aroon ODDS (%) | 1 day ago 47% | 1 day ago 59% |
Long-Term Analysis
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is overvalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
GIL’s FA Score shows that 1 FA rating(s) are green while ONON’s FA Score has 0 green FA rating(s).
- GIL’s FA Score: 1 green, 4 red.
- ONON’s FA Score: 0 green, 5 red.
Short-Term Analysis
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
GIL’s TA Score shows that 5 TA indicator(s) are bullish while ONON’s TA Score has 5 bullish TA indicator(s).
- GIL’s TA Score: 5 bullish, 3 bearish.
- ONON’s TA Score: 5 bullish, 4 bearish.
Price Growth
GIL (@Apparel/Footwear) experienced а -1.97% price change this week, while ONON (@Wholesale Distributors) price change was -3.61% for the same time period.
The average weekly price growth across all stocks in the @Apparel/Footwear industry was +0.83%. For the same industry, the average monthly price growth was -0.89%, and the average quarterly price growth was -3.66%.
The average weekly price growth across all stocks in the @Wholesale Distributors industry was -3.97%. For the same industry, the average monthly price growth was +3.37%, and the average quarterly price growth was +5.03%.
Reported Earning Dates
GIL is expected to report earnings on Nov 04, 2026.
ONON is expected to report earnings on Nov 11, 2026.
Industries' Descriptions
@Apparel/Footwear (+0.83% weekly)Apparel/footwear might be slightly more ‘cyclical’ in the largely non-cyclical category of non-durables. While digital giants like Amazon have been rapidly expanding their presence, traditional clothing/footwear retailers have also been bulking up their online presence in recent years, to milk the burgeoning trend of online shopping among consumers across the globe. The apparel and footwear retail market was valued at around $ 360 billion in 2018, and this figure was expected to reach about $386 billion by 2020 (according to a Statista report). NIKE, Inc, V.F. Corporation and Under Armour, Inc. are some of the companies with the largest U.S. stock market caps in this segment.
@Wholesale Distributors (-3.97% weekly)Companies in this industry handle the wholesale shipments for the manufacturer of a product. They have warehouses and distribution centers, and they ship products directly to the retailer. Digitization, increasing competition, emerging customer demand, and product innovation are some of shifts that the industry has been facing in recent times – something that is potentially creating needs/opportunities for business model revisions or transformations. Data, analytics, and technology are becoming increasingly important for whole distributors in anticipating and analyzing consumer needs, and therefore planning their business strategies accordingly. Fastenal Company, W.W. Grainger, Inc., Genuine Parts Company and Pool Corporation are some of the largest names in the business.
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GIL and
Correlation & Price change
A.I.dvisor indicates that over the last year, GIL has been loosely correlated with SHOO. These tickers have moved in lockstep 50% of the time. This A.I.-generated data suggests there is some statistical probability that if GIL jumps, then SHOO could also see price increases.
| Ticker / NAME | Correlation To GIL | 1D Price Change % | ||
|---|---|---|---|---|
| GIL | 100% | +1.79% | ||
| SHOO - GIL | 50% Loosely correlated | -0.59% | ||
| NKE - GIL | 49% Loosely correlated | +2.10% | ||
| ONON - GIL | 49% Loosely correlated | -0.64% | ||
| DECK - GIL | 44% Loosely correlated | -0.25% | ||
| CAL - GIL | 43% Loosely correlated | +4.95% | ||
More | ||||
ONON and
Correlation & Price change
A.I.dvisor indicates that over the last year, ONON has been loosely correlated with RL. These tickers have moved in lockstep 62% of the time. This A.I.-generated data suggests there is some statistical probability that if ONON jumps, then RL could also see price increases.
| Ticker / NAME | Correlation To ONON | 1D Price Change % | ||
|---|---|---|---|---|
| ONON | 100% | -0.64% | ||
| RL - ONON | 62% Loosely correlated | +0.34% | ||
| VFC - ONON | 53% Loosely correlated | +1.92% | ||
| DECK - ONON | 51% Loosely correlated | -0.25% | ||
| GIL - ONON | 49% Loosely correlated | +1.79% | ||
| UA - ONON | 48% Loosely correlated | +3.50% | ||
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| 1 Day | |||
|---|---|---|---|
| ETFs / NAME | Price $ | Chg $ | Chg % |
| CRSH | 18.18 | 0.29 | +1.62% |
| Yieldmax Short Tsla Option Income Strategy ETF | |||
| PSCW | 30.80 | N/A | N/A |
| Pacer Swan SOS Conservative (April) ETF (PSCW) | |||
| EQL | 51.97 | -0.14 | -0.27% |
| Alps Equal Sector Weight ETF (EQL) | |||
| AVUS | 128.79 | -1.27 | -0.98% |
| Avantis U.S. Equity ETF (AVUS) | |||
| DAX | 44.07 | -0.44 | -0.99% |
| Global X DAX Germany ETF (DAX) | |||