| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 73 | 14.6x | 17.8x | Top tier | |
Growth | 70 | 12.9% | 7.1% | Top tier | |
Quality | 68 | 10.3% | 4.5% | Top tier | |
Safety | 64 | 1.9x | 2.6x | Around median | |
Capital Return | 17 | — | 2.12% | Bottom tier | |
Momentum | 15 | -29.8% | 2.9% | Bottom tier | |
Sentiment | 36 | 15 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Birkenstock Holding plc designs, produces, and sells footwear built around its anatomical footbed, with a portfolio that includes sandals, closed-toe shoes, and clogs, featuring styles such as Arizona, Boston, Naples, Utti, Mayari, Madrid, and Siena. The company generates revenue through its direct-to-consumer channel, which includes owned stores and e-commerce, and through its business-to-business channel; it also manages distribution to preserve scarcity and full-price selling, while core and permanent products account for between 75% and 80% of the business.
In Q3 of fiscal year 2026 ended June 30, 2026, revenue reached €720 million, up 13% on a reported basis and 15% at constant currencies. Adjusted earnings before interest, taxes, depreciation, and amortization reached €242 million, up 11%, and its margin reached 33.7%, representing a year-over-year decline of 70 basis points; adjusted net income also reached €134 million, up 15%, and adjusted earnings per share were €0.74, up 19%. Adjusted gross profit margin declined 130 basis points to 59.2% due to 60 basis points of currency pressure and 70 basis points from U.S. tariffs, but increased 10 basis points when excluding these two factors.
Growth was broad-based across regions and channels in Q3 of fiscal year 2026: the Americas increased 14%, Europe, the Middle East, and Africa increased 15%, and Asia-Pacific increased 23% at constant currencies, or approximately 30% when excluding the impact of timing in Australia. Direct-to-consumer growth accelerated to 16%, owned-store revenue increased 50% with high-single-digit comparable-store sales growth, while the business-to-business channel increased 15%. On a trailing-twelve-month basis in 2026 EDGAR data, the company recorded revenue of $2.1 billion, gross profit of $1.2 billion, and net income of $378.8 million.
Automated analysis for informational purposes only — not investment advice.
The average price target in the analyst consensus is $48.72, within a wide range of $41 to $55, with a consensus Buy recommendation. The average is approximately 6% below the 52-week high of $51.99, while the highest target exceeds that level by approximately 6%; growth optimism is offset by margin pressure from currencies, tariffs, and the closed-toe shoe mix. No listed price-to-earnings ratio is available to rely on, so the valuation assessment in the provided data centers on the target range and its divergence from the 52-week range of $31.12 to $51.99.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
Quarterly revenue reached €720 million, up 13% on a reported basis and 15% at constant currencies. The Americas grew 14%, Europe, the Middle East, and Africa grew 15%, and Asia-Pacific grew 23% at constant currencies. Direct-to-consumer channel growth also accelerated to 16%, and owned-store revenue increased 50% with high-single-digit comparable-store sales growth.
The company raised its revenue growth outlook to 15% at constant currencies, at the high end of the 13% to 15% range. It expects adjusted earnings before interest, taxes, depreciation, and amortization of at least €710 million and a corresponding margin of between 30.2% and 30.5%. It also expects adjusted earnings per share of between €1.90 and €2.05, adjusted gross profit margin of between 57% and 57.5%, and capital expenditure of between €110 million and €130 million.
The contribution from closed-toe shoes increased by more than 500 basis points in Q3 of fiscal year 2026, expanding the use of the company's products beyond sandal season. Non-Boston styles grew by more than 50%, Naples units increased more than fourfold, while Utti unit growth exceeded twofold. These products generate a higher average selling price and gross profit per pair, but they pressured the gross margin percentage by approximately 40 basis points due to manufacturing complexity.
China grew by more than 50% in Q3 of fiscal year 2026 and became the company's largest market in Asia-Pacific during that quarter. Management described China as the market with the highest average selling price globally, with its growth driven by expansion in owned stores, partner stores, and local events. The region grew 23% at constant currencies, or approximately 30% when excluding the impact of revenue timing in Australia, and the company expects annual growth at twice the rate of the other regions.
Adjusted gross profit margin declined by 130 basis points to 59.2% in Q3 of fiscal year 2026. Of the pressure, 60 basis points came from currencies and 70 basis points from U.S. tariffs, while the closed-toe shoe mix added 40 basis points of pressure, partially offset by a 50-basis-point improvement in production capacity absorption. Management expects combined pressure of approximately 200 basis points from currencies and tariffs on fiscal year 2026 margins, alongside higher shipping and logistics costs related to Middle East conflicts.
The company repurchased €230 million of shares and ended Q3 of fiscal year 2026 with €694 million in cash and cash equivalents. It repaid €428.5 million of notes bearing interest at 5.25% and issued €900 million of new notes due in 2033 bearing interest at 4.5%, increasing recurring interest expense by approximately €4.5 million each quarter. Net leverage was 1.8 times on June 30, 2026, with a target of between 1.6 and 1.7 times by the end of fiscal year 2026, while an additional €500 million may be allocated to share repurchases or debt refinancing depending on market conditions.
