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BIRK

Birkenstock Holding plc

BIRK

Birkenstock Holding plc • NYSE
$43.33 ▼ -0.41% (-0.18)
Market Cap $8.12 B
52w High $62.66
52w Low $38.16
Dividend Yield 0%
P/E 22.81
Volume 685.97K
Outstanding Shares 187.50M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $635.042M ▲ $186.097M ▲ $129.228M ▲ 20.35% ▲ $0.69 ▲ $226.231M ▲
Q2-2025 $574.33M ▲ $156.251M ▲ $105.113M ▲ 18.302% ▲ $0.56 ▲ $200.065M ▲
Q1-2025 $361.719M ▼ $154.004M ▼ $20.119M ▼ 5.562% ▼ $0.11 ▼ $102.192M ▼
Q4-2024 $455.764M ▼ $171.195M ▼ $52.465M ▼ 11.511% ▼ $0.28 ▼ $107.919M ▼
Q3-2024 $564.758M $180.452M $74.64M 13.216% $0.4 $180.282M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $261.834M ▲ $4.907B ▼ $2.275B ▲ $2.632B ▼
Q2-2025 $235.399M ▼ $5.026B ▲ $2.233B ▼ $2.793B ▲
Q1-2025 $298.594M ▼ $5.005B ▲ $2.257B ▼ $2.749B ▲
Q4-2024 $376.46M ▼ $4.885B ▼ $2.26B ▼ $2.625B ▼
Q3-2024 $404.347M $5.042B $2.401B $2.641B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $129.228M ▲ $260.648M ▲ $-21.083M ▼ $-210.128M ▼ $26.435M ▲ $238.392M ▲
Q2-2025 $105.113M ▲ $-18.288M ▼ $-21M ▼ $-23M ▲ $-63.195M ▼ $-37.182M ▼
Q1-2025 $20.119M ▼ $-11.645M ▼ $-14.997M ▲ $-32.984M ▲ $-57.249M ▼ $-30.433M ▼
Q4-2024 $52.465M ▼ $142.608M ▼ $-15.401M ▲ $-173.122M ▼ $-48.504M ▼ $124.363M ▼
Q3-2024 $74.64M $281.482M $-17.142M $-35.822M $228.619M $263.061M

Five-Year Company Overview

Income Statement

Income Statement Birkenstock’s income statement shows a healthy growth story. Sales have been climbing steadily each year, suggesting the brand continues to gain traction globally. Profitability at the gross level is strong, reflecting premium pricing and good control over production costs. Operating and net profits, while positive throughout, have been a bit bumpier, likely reflecting higher spending on growth, brand-building, and IPO-related or one‑off costs. The most recent year shows profits recovering after an earlier dip, which indicates the business is absorbing those investments and returning to a more normalized earnings level. Overall, this looks like a profitable, growing consumer brand with some expected volatility as it scales up.

Balance Sheet

Balance Sheet The balance sheet is relatively solid for a branded consumer company. Total assets have been edging up, supporting a larger business footprint, while cash on hand has improved, giving the company more financial flexibility. Debt is still present but has been coming down meaningfully, and shareholders’ equity has been building, which points to a gradual strengthening of the capital structure. Put simply, leverage is moving in the right direction: less reliance on borrowing, more backed by the company’s own capital. The main risk is that, as with most brands, a large part of the company’s value is intangible and depends on maintaining brand strength and customer loyalty over time.

Cash Flow

Cash Flow Cash generation looks like a key strength. Operating cash flow has grown consistently, broadly in line with the business expansion, which means earnings are backed by real cash, not just accounting profits. After funding investments in factories, equipment, and capacity, the company still ends up with a healthy and rising level of free cash flow. Capital spending has increased but remains very manageable compared with the cash coming in, suggesting expansion is being financed in a disciplined way. This pattern gives management room to keep investing in growth, continue reducing debt, and absorb potential downturns in consumer demand without immediate financial strain.

Competitive Edge

Competitive Edge Birkenstock benefits from a very strong competitive position rooted in its long history, distinctive orthopedic footbed technology, and reputation for comfort and durability. The brand occupies a premium niche between fashion and functional footwear, which gives it pricing power and a loyal, repeat customer base. Vertical integration—owning much of its production, especially in Germany—supports quality control and helps protect its know‑how. The company is also expanding its direct‑to‑consumer presence, which can deepen customer relationships and improve margins over time. Key risks include exposure to fashion cycles, dependence on a relatively narrow set of iconic styles, intense competition from both global sneaker and comfort brands, and potential pressure if consumer spending weakens. Still, the combination of heritage, product differentiation, and control over manufacturing gives Birkenstock a notable moat versus generic footwear makers.

Innovation and R&D

Innovation and R&D Innovation at Birkenstock is evolutionary rather than flashy, but it is meaningful. The core orthopedic footbed remains the anchor, while R&D focuses on new materials, improved comfort, and more sustainable options like cork‑based and vegan lines. The company is broadening its range beyond classic sandals into professional footwear, closed‑toe shoes, boots, and lighter, waterproof EVA products, all built around the same comfort philosophy. Investment in R&D also supports new silhouettes, collaborations with fashion partners, and upgrades to customer experience through digital and direct‑to‑consumer channels. On the operations side, building new plants and expanding capacity in Germany and Portugal are strategic moves to support growth while keeping production know‑how in-house. The main question is less about whether Birkenstock can invent something radically new, and more about whether it can keep refreshing its classic formulas enough to stay culturally relevant and extend the brand into adjacent comfort and wellness categories.

Summary

Taken together, Birkenstock looks like a mature yet still expanding brand business: sales are growing steadily, margins are healthy, and cash generation is robust. The balance sheet has been improving, with debt coming down and equity rising, which reduces financial risk compared with earlier years. Its moat rests on brand heritage, comfort‑driven product design, and tight control over manufacturing—advantages that are not easy for competitors to replicate quickly. At the same time, the company remains exposed to discretionary consumer spending, changing style preferences, and the execution risk that comes with expanding capacity and pushing deeper into direct-to-consumer and new product categories. For observers, the key things to watch will be: continued growth without sacrificing brand perception, disciplined use of cash as it scales, and the ability to innovate around its core footbed concept in a way that keeps both long‑time and new customers engaged.

NEWS

November 18, 2025 · 5:30 AM UTC

Birkenstock Announces Fourth Quarter and Full Fiscal Year 2025 (Ended September 30, 2025) Results Date and Conference Call

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November 17, 2025 · 5:51 AM UTC

Birkenstock, Bosch, Edeka, Sennheiser, and Volkswagen are among the Honoured Winners of the 2025-2026 World Branding Awards in Osaka

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October 15, 2025 · 6:00 PM UTC

Birkenstock To Acquire Long-Standing Distributor Birkenstock Australia Pty. Ltd. Planning To Actively Invest In The Business And To Unleash The Growth Potential Of One Of Its Largest Markets

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September 25, 2025 · 2:50 AM UTC

Birkenstock Expects Fiscal 2025 Revenues Of At Least €2.09 Billion, Ahead of Guidance; Reaffirms Adjusted EBITDA Guidance Of 31.3%-31.8%

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September 9, 2025 · 9:17 AM UTC

BIRKENSTOCK EXPANDS CARE ESSENTIALS: A NEW BODY CARE RANGE, TO CARE AS NATURE INTENDED - NOW FOR THE ENTIRE BODY

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