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Birkenstock Holding PLC

Birkenstock Holding PLC

BIRK
$44.36USD↑+0.11%+0.05 today

MARKET CAP

8.2B

P/E (TTM)

23.3x

FWD P/E

18.4x

DAY RANGE

$44 – $46

52W RANGE

$31
$54

AI Summary

Stalk
StalkMedium

BIRK is in a Stage 2 advancing phase with a clear higher-high/higher-low sequence since the May low. The medium-term bias is bullish, supported by rising short-term EMAs and a turning 50-day SMA. Short-term price action has flattened into a sideways consolidation around these moving averages, suggesting deferred entries. Execution is advised on pullbacks into the 9/20 EMAs or 50-day SMA support zone. Key risks include resistance holding near recent highs and a potential shift to Stage 3 consolidation if support fails.

  • ↑Q2 revenue €618M, up 14% YoY in constant currency; guidance reaffirmed at 13–15% growth.
  • ↑DTC channel revenue +60% YoY, driving higher engagement and margin stability.
  • ↓Adjusted net profit €93M, down 10% YoY due to currency translation losses.
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The case for & against

Bull & Bear analysis

Bullish

Birkenstock Holding plc (NYSE: BIRK) is a globally renowned footwear brand celebrated for its comfort-oriented sandals and sustainable manufacturing practices. With a diverse business model encompassing both Direct-to-Consumer (DTC) and Business-to-Business (B2B) channels, Birkenstock has established a robust market presence across key geographic regions including the Americas, EMEA, and APEC. The company is navigating challenges such as tariff exposure and currency fluctuations while leveraging its iconic product designs and brand loyalty to sustain its position in the competitive retail landscape.

Bull says

  • ↑Q2 revenue €618M, up 14% YoY in constant currency; guidance reaffirmed at 13–15% growth.
  • ↑DTC channel revenue +60% YoY, driving higher engagement and margin stability.
  • ↑€250M share repurchase reflects management confidence and undervaluation thesis.
  • ↑Plans to open ~40 new stores, targeting 140 doors by FY26 end; APEC sales +30%.
  • ↑Gross margin at 54.6% despite tariffs and FX, due to price pass-through.
  • ↑Strong earnings yield, positive quality score, and low volatility underpin stability.

Bear says

  • ↓Adjusted net profit €93M, down 10% YoY due to currency translation losses.
  • ↓Gross margin fell to 54.6% as tariffs and FX pressure costs.
  • ↓Exposure to 15% EU tariffs with €30M refund timing uncertain.
  • ↓Guidance 13–15% growth, but capacity constraints may cap upside.
  • ↓High short interest signals investor skepticism and potential downward pressure.
  • ↓Negative earnings revisions and sensitivity to inflation pose risks to forecasts.

Investment themes with BIRK

Recent IPOs↑ +0.15%

Companies that recently went public

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Earnings Call · Q2 2026 · Mgmt. Guidance

Updated 05-13-2026neutral

Transcript signals

Bull points

  • In the second quarter, we grew revenues over 14% within our target range of 13 to 15% growth in constant currency.
  • Our adjusted APDR margin remained strong at over 32%, despite the impact of FX and tariffs.
  • Even in this uncertain environment, demand for Birkenstock remains strong and we delivered as promised in our wide space growth opportunities.

Bear points

  • The annual inflation rate in U.S. jumped to 3.3% in March 26th, marking the highest level since May 24 and sharp increase from 2.4% in both February and January.
  • Eurozone inflation reached 3% in April, the highest level since September 23, driven by 11% increase in energy costs.
  • We estimate the direct and indirect impacts of the war reduced EMEA revenue by about 6 million euros and growth by about 300 basis points.
Read full transcript analysis ›