Birkenstock Holding plc AI Stock Analysis
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Birkenstock Holding plc (BIRK) AI Stock Analysis
Birkenstock Holding plc
(NYSE:BIRK)
The score is driven primarily by strong profitability but tempered by decelerating TTM growth, softer cash-flow conversion, and higher leverage. The latest earnings call is a notable positive due to raised FY2026 guidance and continued DTC/APAC momentum, while technical indicators are a meaningful drag given the weak trend and negative momentum. Valuation appears moderate based on the provided P/E, with no dividend yield data to add support.
Birkenstock Holding plc Key Performance Indicators (KPIs)
Revenue by GeographyBreaks down sales across regions (Europe, the Americas, Asia-Pacific), showing where Birkenstock earns most of its revenue and which markets drive growth or carry risk from local slowdowns, fashion cycles, or currency moves.
Q1 2026 shows a material reallocation of regional reporting (EMEA/APAC suddenly present while Europe/APMA go to zero), so headline regional comparisons are misleading; underlying momentum is real in APAC and the Americas per management’s constant‑currency commentary, but EMEA is exposed to Middle East disruptions and tariff/FX noise that can quickly reverse apparent gains. Focus on constant‑currency trends and margin guidance rather than reported region line items until the company clarifies the new reporting perimeter and the tariff/FX impacts normalize.
The FlyBirkenstock Holding plc (BIRK) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $6.35B
- Dividend Yield
- ―
- Average Volume (3M)
- 2.34M
- Price to Earnings (P/E)
- 17.6
- Beta (1Y)
- 1.09
- Revenue Growth
- 19.55%
- EPS Growth
- 19.15%
- Country
- US
- Employees
- 6,800
- Sector
- Consumer Cyclical
- Sector Strength
- 61
- Industry
- Apparel - Footwear & Accessories
Birkenstock Holding plc Business Overview & Revenue Model
Company Description
Birkenstock Holding plc specializes in the creation and distribution of various foot-related products. While renowned for its extensive collection of footwear, which includes sandals, shoes, and closed-toe designs, the company also expands its offeri...
How the Company Makes Money
Birkenstock makes money primarily by selling footwear. Its revenue model is built around two main channels: (1) wholesale sales to third-party retailers and distributors (e.g., footwear stores, department stores, and specialty retailers), where Birke...
Birkenstock Holding plc Earnings Call Summary
The call presented a strong operational quarter with revenue and adjusted EBITDA growth, accelerated DTC and retail expansion, notable strength in APAC and China, successful product-driven ASP improvement, and proactive capital allocation (share repurchase and debt refinancing). The main negatives were largely external and manageable: FX and tariff headwinds, one-time financing/ASR expenses that elevated the tax rate and temporarily increased leverage, higher logistics costs related to Middle East conflicts, and a higher inventory-to-sales ratio influenced by tariffs/FX and the Australia acquisition timing. Management reiterated confidence, raised full-year revenue and EBITDA targets, and provided mitigation context for reported margin pressures.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management raised fiscal 2026 guidance, now targeting 15% revenue growth in constant currency (top of prior 13–15% range) and adjusted EBITDA of at least €710m; Q4 revenue is expected to remain within the 13–15% annual range with FX and tariffs relatively neutral in Q4 (blended Q4 tariff ~just over 15%), while the full‑year FX drag is ~350 bps. Full‑year adjusted gross margin is guided to 57.0–57.5% and adjusted EBITDA margin to 30.2–30.5% (including ~200 bps headwind from FX and U.S. tariffs); adjusted EPS is expected at €1.90–€2.05 (including ~€0.15–€0.20 of FX pressure) with a 2026 tax rate of 30–31% (recurring rate expected in the high‑20s). CapEx is forecast at €110–130m, net leverage is targeted at ~1.6–1.7x by year‑end (versus 1.8x now; ~1.4x excluding the ASR), and management retains flexibility to deploy up to ~€500m for additional buybacks or refinancing.
Birkenstock Holding plc Financial Statement Overview
Summary
Strong profitability (TTM gross margin ~55%, operating margin ~24%, net margin ~15%) supports a solid base, but fundamentals are moderating: TTM revenue growth slowed to ~4% (vs ~20%+ in prior fiscal years), free cash flow conversion softened (FCF ~72% of net income; OCF ~0.80x net income), and leverage increased (debt-to-equity ~0.69 vs ~0.48 in FY2025).
Income Statement
78PositiveBalance Sheet
70PositiveCash Flow
66Positive| Breakdown | TTM | Sep 2025 | Sep 2024 | Dec 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.29B | 2.10B | 1.80B | 1.49B | 1.24B | 962.13M |
| Gross Profit | 1.25B | 1.24B | 1.06B | 925.79M | 749.80M | 545.65M |
| EBITDA | 683.80M | 659.09M | 503.67M | 360.35M | 414.42M | 286.74M |
| Net Income | 339.05M | 348.33M | 191.60M | 75.02M | 187.11M | 116.44M |
Balance Sheet | ||||||
| Total Assets | 5.66B | 4.94B | 4.88B | 4.83B | 4.79B | 4.27B |
| Cash, Cash Equivalents and Short-Term Investments | 693.35M | 340.82M | 368.36M | 353.40M | 307.08M | 235.34M |
| Total Debt | 1.92B | 1.31B | 1.35B | 1.95B | 2.05B | 1.92B |
| Total Liabilities | 2.86B | 2.22B | 2.26B | 2.43B | 2.43B | 2.20B |
| Stockholders Equity | 2.80B | 2.72B | 2.63B | 2.40B | 2.36B | 2.06B |
Cash Flow | ||||||
| Free Cash Flow | 283.87M | 288.28M | 354.80M | 255.79M | 161.54M | 159.16M |
| Operating Cash Flow | 396.55M | 373.23M | 428.70M | 358.73M | 234.14M | 180.93M |
| Investing Cash Flow | -125.06M | -93.18M | -58.80M | -100.73M | -71.65M | -18.15M |
| Financing Cash Flow | 175.87M | -307.44M | -355.05M | -199.28M | -105.32M | -84.74M |
Birkenstock Holding plc Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BIRK, the sentiment is Neutral. The current price of 35.70 is above the 20-day moving average (MA) of 34.61, above the 50-day MA of 33.38, and below the 200-day MA of 38.07, indicating a neutral trend. The MACD of 0.98 indicates Negative momentum. The RSI at 53.50 is Neutral, neither overbought nor oversold. The STOCH value of 56.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BIRK.
Birkenstock Holding plc Risk Analysis
Birkenstock Holding plc disclosed 81 risk factors in its most recent earnings report. Birkenstock Holding plc reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
0 New RisksBirkenstock Holding plc Peers Comparison
Overall Rating
DECK78Outperform
CROX76Outperform
ONON75Outperform
SHOO73Outperform
WWW70Outperform- BIRK70Outperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| DECK | 78Outperform | $11.80B | 11.21 | 43.56% | ― | 6.30% | 11.78% |
| CROX | 76Outperform | $7.32B | 11.59 | 48.76% | ― | 0.70% | 329.45% |
| ONON | 75Outperform | $11.43B | 20.16 | 23.64% | ― | 24.02% | 104.91% |
| SHOO | 73Outperform | $3.13B | 16.68 | 18.92% | 2.04% | 20.60% | 208.58% |
| WWW | 70Outperform | $1.80B | 12.62 | 32.99% | 1.75% | 7.31% | ― |
| BIRK | 70Outperform | $6.51B | 17.60 | 12.12% | ― | 19.55% | 19.15% |
| Sector * | 61Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% |
* Consumer Cyclical Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| BIRK | Birkenstock Holding plc | 35.70 | -3.82 | -9.67% | |
| CROX | Crocs | 163.72 | 86.57 | 112.21% | |
| DECK | Deckers Outdoor | 86.82 | 6.10 | 7.56% | |
| SHOO | Steven Madden | 42.00 | 5.78 | 15.96% | |
| WWW | Wolverine World Wide | 24.89 | 10.50 | 72.91% | |
| ONON | On Holding Ag Class A | 33.07 | -8.33 | -20.12% |
Birkenstock Holding plc Corporate Events
Birkenstock Closes $500 Million Share Redemption Within Major Secondary Offering
On August 17, 2026, Birkenstock Holding plc completed a secondary offering of 28,146,226 ordinary shares by major shareholder BK LC Lux MidCo S.à r.l., with 15,384,613 shares sold to the public at $39.35 per share, including shares issued under a par...
Birkenstock Posts Larger Balance Sheet and Higher Equity in Q3 2026 Update
Birkenstock Holding plc reported unaudited interim condensed consolidated financial statements for the three- and nine-month periods ended June 30, 2026, showing a significant expansion of its balance sheet compared with September 30, 2025. Total ass...
Birkenstock Lifts 2026 Outlook After Double-Digit Q3 Revenue Growth and Aggressive Buybacks
On August 13, 2026, Birkenstock reported results for its fiscal third quarter ended June 30, 2026, posting revenue of EUR 720 million, up 13% on a reported basis and 15% in constant currency, with double-digit growth across the Americas, EMEA and APA...
Birkenstock Seeks New Independent Director After Alexandre Arnault Resigns
Birkenstock Holding plc, listed on the NYSE under the ticker BIRK, positions itself as a global “super brand” built around foot health and biomechanics, with offerings in footwear, sleep systems and natural cosmetics. The company targets a broad cons...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Aug 19, 2026