How much debt does NRG have?
On Holding AG (ONON) maintains a very clean and conservative balance sheet with minimal funded debt borrowings, supported by substantial cash and cash equivalents reserves. As the fast-growing athletic footwear and apparel enterprise behind the On Running brand, the company utilizes a capital-light operational model that generates exceptional free cash flows. This strong financial liquidity allows On Holding to fund global marketing campaigns, wholesale expansions, premium retail partnerships, and supply chain scaling entirely out of internal cash generation without relying on debt financing.
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