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Birkenstock Holding (BIRK) Stock Fundamentals, Analysis & Risk Signals

Health score, competitive moat, risk signals, and key metrics at a glance.

NYSE•Consumer Cyclical•Footwear & Accessories
B
GoodMetricSide Score: 76/100
ProfitabilityProfit25/30
GrowthGrowth25/25
Balance SheetBalance17/25
Cash QualityCash9/20
Price & Volume

Birkenstock Holding plc engages in the manufacture and sale of footwear products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers footbed-based products, including sandals and closed-toe shoes; and skincare products and accessories. The company sells its products through e-commerce sites and a network of owned retail stores, as well as business-to-business channels. The company was formerly known as Birkenstock Group Limited. Birkenstock Holding plc was founded in 1774 and is based in London, the United Kingdom. Birkenstock Holding plc operates as a subsidiary of BK LC Lux MidCo S.à r.l.

Moat Signals

Competitive analysis based on 18 quarters of fundamental data

Pricing Power

Strong Moat

Operating margins are stable at ~24.4%, suggesting durable pricing power and cost discipline.

Competitive Advantage

Moderate Moat

ROE is positive at ~9.9% on average, adequate but below the threshold typically associated with wide moats.

Cash Generation

Moderate Moat

5 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.

Demand Durability

Strong Moat

TTM revenue has grown consistently (7 of 7 quarters up), with ~27.2% growth over the period. Strong demand durability.

Risk Signals

Data-driven red flags and warnings across 18 quarters

Low Risk

Margin Pressure

Healthy

Margins are stable or improving at ~24.6% — no sign of cost or pricing stress.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Leverage Risk

Healthy

D/E ratio is 0.4 — conservative capital structure with low financial risk.

Revenue Decline

Healthy

Revenue is stable or growing over recent quarters — demand appears durable.

Cash Burn

Watch

FCF turned negative in 3 of the last 8 quarters — occasional cash consumption.

Share Dilution

Healthy

Shares decreased 2.1% — net buybacks are reducing shares outstanding and boosting per-share value.

Metrics at a Glance

as of March 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$2.19B
12.0%
Q. Revenue
$628.50M
TTM EBITDA
$665.06M
14.5%
TTM Op. Income
$553.46M
12.4%
Q. Op. Income
$164.94M
TTM Net Income
$356.88M
41.4%
Q. Net Income
$83.23M
EPS
N/A
Shares Out.
$183.91M
2.1%
$2.19B in TTM revenue grew 12.0% YoY, reaching $628.50M last quarter. TTM EBITDA of $665.06M and TTM operating income of $553.46M shows growth is flowing through. Net income of $356.88M TTM confirms the company is converting revenue into profit. Revenue is growing at a healthy pace — a signal to hold.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin
30.3%
Op. Margin
26.2%
14.0%
Net Margin
13.2%
27.6%
Op. margin of 26.2% is down 4.3% YoY — costs are rising relative to revenue. Net margin at 13.2%.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
17.6x
P/S Ratio
2.9x
P/B Ratio
2.2x
At 17.6x P/E, the stock trades in line with market averages — fairly valued. P/S of 2.9x and P/B of 2.2x provide additional context. Assess whether the current multiple is justified by the company's growth and profitability trajectory.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$5.17B
Cash
$201.68M
Long-Term Debt
$1.10B
Book Value
$2.90B
D/E Ratio
0.4
Debt/EBITDA
5.8
With $5.17B in assets and $1.10B in long-term debt, the D/E of 0.4and book value of $2.90B — shows a conservative capital structure — the company has a strong financial cushion to weather downturns.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Free Cash Flow
$1.94M
105.2%
FCF Margin
0.1%
FCF / Net Income
0.0
FCF of $1.94M. The FCF / Net Income ratio of 0.0x indicates partial cash conversion — earnings quality needs attention.

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