LCID
Lucid Group, Inc.
LCID offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
ONON
On Holding AG
ONON has the edge over LCID overall, supported by stronger fundamentals and lower modeled downside.
LCID Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| Weak | |
| Unavailable |
LCID's revenue is currently healthy, but its profitability and cash flow are weak. There isn't enough data to rate its balance sheet.
ONON Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
ONON's revenue, profitability, cash flow and balance sheet are all currently healthy.
LCID PE Valuation
LCID has no meaningful PE right now: it lost money over the past year.
ONON PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 23x | $33.07 | — |
| Cheap | 46x | $65.70 | +99% |
| Fair | 90x | $128 | +287% |
| Expensive | 145x | $207 | +527% |
Historical ranges are pointers, not guarantees.
ONON's PE is 23x, but its earnings don't support one, so it isn't a reliable read right now.
LCID Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| -- | |
| Limited | |
| Low |
Analysts expect LCID's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
ONON Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Moderate | |
| Moderate |
Analysts expect strong earnings and revenue growth for ONON, with profitability improving.
LCID Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$13.08 | -$2.57 |
| Q2 2026 | -$13.65 | -$2.35 |
| Q1 2026 | -$13.15 | -$1.25 |
| Q4 2025 | -$12.09 | +$0.41 |
| Q3 2025 | -$10.51 | +$2.49 |
| Q2 2025 | -$11.30 | +$0.40 |
| Q1 2025 | -$11.90 | +$0.40 |
| Q4 2024 | -$12.50 | +$1.10 |
LCID is still losing money, but less than at its worst: $13.08 per share over the past year, against $16.50 at its worst in mid-2023.
ONON Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $1.43 | +198% |
| Q1 2026 | $0.91 | +23% |
| Q4 2025 | $0.75 | -14% |
| Q3 2025 | $0.81 | +76% |
| Q2 2025 | $0.48 | -17% |
| Q1 2025 | $0.74 | +54% |
| Q4 2024 | $0.87 | +181% |
| Q3 2024 | $0.46 | +48% |
ONON has the edge over LCID on earnings quality, reporting a profit while its opponent remains loss making.
LCID Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $350.3M | +4.1% |
| Q2 2026 | $405.3M | +56% |
| Q1 2026 | $282.5M | +20% |
| Q4 2025 | $522.7M | +123% |
| Q3 2025 | $336.6M | +68% |
| Q2 2025 | $259.4M | +29% |
| Q1 2025 | $235M | +36% |
| Q4 2024 | $234.5M | +49% |
LCID has the edge over ONON on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -245% | +35 points |
| Q2 2026 | -267% | +43 points |
| Q1 2026 | -350% | -56 points |
| Q4 2025 | -204% | +109 points |
| Q3 2025 | -280% | +105 points |
| Q2 2025 | -310% | +83 points |
| Q1 2025 | -294% | +128 points |
| Q4 2024 | -313% | +156 points |
LCID's operating margin was −245% last quarter, up 35 points from the same quarter a year ago, near the top of its range since 2020.
ONON Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $1B | +13% |
| Q1 2026 | $1B | +17% |
| Q4 2025 | $895.4M | +23% |
| Q3 2025 | $956.3M | +25% |
| Q2 2025 | $901.9M | +32% |
| Q1 2025 | $874.7M | +43% |
| Q4 2024 | $730.3M | +36% |
| Q3 2024 | $765.4M | +32% |
ONON's revenue has grown year over year every quarter since early 2021: $1B last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 14% | +1.6 points |
| Q1 2026 | 14% | +3.5 points |
| Q4 2025 | 11% | +2.3 points |
| Q3 2025 | 16% | +4.3 points |
| Q2 2025 | 12% | +4.1 points |
| Q1 2025 | 11% | +3 points |
| Q4 2024 | 8.8% | -0.3 points |
| Q3 2024 | 11% | -0.6 points |
ONON has the edge over LCID on profitability, with a higher operating margin.
LCID Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1B | -$84.2M |
| Q2 2026 | -$1.5B | -$463.2M |
| Q1 2026 | -$1.4B | -$849M |
| Q4 2025 | -$1.2B | -$417.1M |
| Q3 2025 | -$955.5M | -$333M |
| Q2 2025 | -$1B | -$271.6M |
| Q1 2025 | -$589.9M | +$125.1M |
| Q4 2024 | -$824.8M | -$77.6M |
LCID has burned cash in almost every quarter: −$5.2B over the past year, against −$3.4B the year before.
ONON Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $241.6M | +139% |
| Q1 2026 | $7.9M | +$37M |
| Q4 2025 | $96.4M | -46% |
| Q3 2025 | $164.7M | -1.7% |
| Q2 2025 | $100.9M | -2.1% |
| Q1 2025 | -$29.1M | -134% |
| Q4 2024 | $179.4M | +44% |
| Q3 2024 | $167.5M | +40% |
ONON has the edge over LCID on cash generation, producing positive trailing cash flow while its opponent burns cash.
LCID Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.3% | +12.5M shares |
| 1 year | +26% | +82.4M shares |
| 3 years | +73% | +166M shares |
LCID has 395M diluted shares, up 26% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | $2.2M |
| Q1 2020 | — |
ONON Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +278K shares |
| 1 year | -0.9% | -3M shares |
| 3 years | +3.9% | +12.6M shares |
| 5 years | +9.9% | +30.2M shares |
| Available history | +30% | +76.7M shares |
ONON has the edge over LCID on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
ONON hasn't bought back shares in the past year.
LCID Net Leverage
LCID's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
ONON Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -1.1x | Net Cash |
| Q1 2026 | -1.0x | Net Cash |
| Q4 2025 | -1.3x | Net Cash |
| Q3 2025 | -1.3x | Net Cash |
| Q2 2025 | -1.3x | Net Cash |
| Q1 2025 | -1.5x | Net Cash |
| Q4 2024 | -1.5x | Net Cash |
| Q3 2024 | -1.4x | Net Cash |
ONON has more cash than debt.
LCID Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 32.9 | Neutral |
| Stochastic | 7.1 | Oversold |
LCID's weekly RSI is 33 (neutral) and its Stochastic is 7 (oversold).
ONON Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.3 | Neutral |
| Stochastic | 65.7 | Neutral |
ONON's weekly RSI is 47 (neutral) and its Stochastic is 66 (neutral).
LCID PE vs Consumer Cyclical Sector
LCID has no meaningful PE right now: it lost money over the past year.
ONON PE vs Consumer Cyclical Sector
| Metric | ONON | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 18x | 28% above |
| PE % | 1 | 57 | 56 pts below |
ONON is trading at 23x earnings, a 28% premium to the Consumer Cyclical sector's median of 18x, though its earnings don't support one.
LCID Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.53 | 7.9% below |
| 20 week MA | $4.88 | 33% below |
| 50 week MA | $7.33 | 56% below |
| 100 week MA | $15.4 | 79% below |
| 200 week MA | $31.9 | 90% below |
LCID is in a downtrend: it's below all five of its weekly moving averages, and 90% below its 200-week average.
ONON Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $33.4 | 1% below |
| 20 week MA | $33.2 | 0.3% below |
| 50 week MA | $38.0 | 13% below |
| 100 week MA | $43.4 | 24% below |
| 200 week MA | $38.9 | 15% below |
ONON is in a downtrend: it's below all five of its weekly moving averages, and 15% below its 200-week average.
LCID Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $98.9 | $100.4 | +1.5% |
| 2021 | $100.4 | $376.4 | +275% |
| 2022 | $376.4 | $67.0 | -82% |
| 2023 | $67.0 | $42.1 | -37% |
| 2024 | $42.1 | $32.0 | -24% |
| 2025 | $32.0 | $11.4 | -64% |
| 2026 YTD | $11.4 | $3.25 | -72% |
LCID has finished four years in a row lower, and it's down 72% so far in 2026.
ONON Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $39.0 | $38.6 | -0.9% |
| 2022 | $38.6 | $16.3 | -58% |
| 2023 | $16.3 | $27.0 | +66% |
| 2024 | $27.0 | $55.6 | +106% |
| 2025 | $55.6 | $46.8 | -16% |
| 2026 YTD | $46.8 | $33.1 | -29% |
ONON has the edge over LCID on returns for 2026, with the stronger performance.