# Birkenstock Holding (BIRK.US)

Canonical: https://gigainvestors.com/s/BIRK

Analysis as of: 2026-10-16T07:26:56.889Z. 

Listing currency: USD. Reporting currency: EUR.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $35.89 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [Bill Nygren](https://gigainvestors.com/HA): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 39% since Jan 2025 · "Birkenstock Shares Fall as Discounted Secondary Offering Pressures Stock" (finance.yahoo.com, Aug 2026)

Story as of 2026-10-16T09:58:24.192Z; price observation 2026-10-15.

- 2025-05-15: Birkenstock Raises 2025 Guidance Due To Strong Demand; Price Increases Expected ([finance.yahoo.com](https://finance.yahoo.com/news/birkenstock-raises-2025-guidance-due-135411626.html))

- 2025-08-14: Birkenstock beats profit estimates on strong full-price footwear sales ([ca.finance.yahoo.com](https://ca.finance.yahoo.com/news/birkenstock-misses-quarterly-sales-estimates-091348188.html))

- 2025-12-18: Birkenstock sees muted sales growth and profit as tariffs hurt margins ([finance.yahoo.com](https://finance.yahoo.com/news/birkenstock-sees-muted-sales-growth-113103018.html))

- 2026-01-23: Birkenstock (BIRK) Valuation Check As 2026 Q1 Revenue Guidance Highlights Currency Impact On Growth ([finance.yahoo.com](https://finance.yahoo.com/news/birkenstock-birk-valuation-check-2026-062323350.html))

- 2026-02-12: Birkenstock delivers in-line FQ1 results, margins soften on FX and tariffs ([finance.yahoo.com](https://finance.yahoo.com/news/birkenstock-delivers-line-fq1-results-104235380.html))

- 2026-05-22: Birkenstock (BIRK) Soars 19% on $250M Share Buyback ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/birkenstock-birk-soars-19-250m-004129847.html))

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in footwear & accessories; annual sales are EUR 2.1 billion.

- Source: https://www.sec.gov/Archives/edgar/data/1977102/000119312525323599/birk-20250930.htm (filed 2025-12-18); FY2025: revenue 2097429000; grossProfit 1239706000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); BIRK.US: 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.

### Why customers stay

Margins ranged from 58.8% to 62.1% during 2023–25.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2025-12-18); FY2023: grossProfit / revenue = 62.1%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2025-12-18); FY2024: grossProfit / revenue = 58.8%.

- Source: https://www.sec.gov/Archives/edgar/data/1977102/000119312525323599/birk-20250930.htm (filed 2025-12-18); FY2025: grossProfit / revenue = 59.1%.

### Where the cash goes

Paid dividends in 2 of 6 years; bought back EUR 194.7 million of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2025-12-18); FY2021: growth capex 0; upkeep 21767160; owner earnings 151165203. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2025-12-18); FY2022: growth capex 0; upkeep 72591000; owner earnings 195781000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2025-12-18); FY2023: growth capex 19534000; upkeep 83413000; owner earnings 75022000. Growth capex / owner earnings = 0.2603769560928794.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2025-12-18); FY2024: growth capex 0; upkeep 73900000; owner earnings 218993000. Growth capex / owner earnings = 0.

- Source: https://www.sec.gov/Archives/edgar/data/1977102/000119312525323599/birk-20250930.htm (filed 2025-12-18); FY2025: growth capex 0; upkeep 84955000; owner earnings 376911000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2025-12-18); Dividend observations: [[2020,100390000],[2021,156100437],[2022,0],[2023,0],[2024,0],[2025,0]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1977102/000119312525323599/birk-20250930.htm (filed 2025-12-18); FY2025: cash repurchases 194724501 EUR.

### Are managers owners

Insiders own 17.4% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); BIRK.US SharesStats.PercentInsiders = 17.416999999999998 percentage points; cache date 2026-10-16.

### What the price says

The price is 2.8 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2025-12-18); Closing price 35.89 USD; reporting-to-trading FX 1.12128; FY2025 annual sales per share 11.245815128347216; price multiple 2.84621984705488. FY2025 cash earnings/share 2.0208891103539037. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2023-10: $39.07 per share

- 2023-11: $46.15 per share

- 2023-12: $48.73 per share

- 2024-01: $46.39 per share

- 2024-02: $50.01 per share

- 2024-03: $47.25 per share

- 2024-04: $44.77 per share

- 2024-05: $57.00 per share

- 2024-06: $54.41 per share

- 2024-07: $59.11 per share

- 2024-08: $49.90 per share

- 2024-09: $49.29 per share

- 2024-10: $46.00 per share

- 2024-11: $51.66 per share

- 2024-12: $56.66 per share

- 2025-01: $59.14 per share

- 2025-02: $49.48 per share

- 2025-03: $45.85 per share

- 2025-04: $51.43 per share

- 2025-05: $53.78 per share

- 2025-06: $49.18 per share

- 2025-07: $50.09 per share

- 2025-08: $52.13 per share

- 2025-09: $45.25 per share

- 2025-10: $39.91 per share

- 2025-11: $43.33 per share

- 2025-12: $40.90 per share

- 2026-01: $37.76 per share

- 2026-02: $41.65 per share

- 2026-03: $35.83 per share

- 2026-04: $38.74 per share

- 2026-05: $45.07 per share

- 2026-06: $43.03 per share

- 2026-07: $38.72 per share

- 2026-08: $34.91 per share

- 2026-09: $32.41 per share

- 2026-10: $35.89 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 20-F filing](https://www.sec.gov/Archives/edgar/data/1977102/000119312525323599/birk-20250930.htm); period 2025-09-30, filed 2025-12-18.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations

- [Bill Nygren](https://gigainvestors.com/HA): 185,100 BIRK shares; USD 7,965,000 reported position value; 0.01% of portfolio; new; quarter 2026 Q2.

# BIRK — Birkenstock Holding Plc

Held by 1 investor · USD 7,965,000 total · 2026 Q2 · reported price USD 43.03 (split-adjusted).
Page: https://gigainvestors.com/s/BIRK

## Holders (2026 Q2)

| Investor | Value | % of their portfolio | This quarter |
|---|---:|---:|---|
| Bill Nygren (https://gigainvestors.com/HA) | USD 7,965,000 | <0.1% | new |
| Francois Rochon (https://gigainvestors.com/GC) | USD 980,908 | 0.0% | sold |

## Total held by quarter

- 2023 Q4: USD 227,016,258 · 1 holder · USD 48.73
- 2024 Q1: USD 191,419,247 · 1 holder · USD 47.25
- 2024 Q2: USD 169,957,252 · 1 holder · USD 54.41
- 2024 Q3: USD 145,410,035 · 1 holder · USD 49.29
- 2024 Q4: USD 112,723,710 · 2 holders · USD 56.66
- 2025 Q1: USD 16,231,909 · 2 holders · USD 45.85
- 2025 Q2: USD 1,346,865 · 1 holder · USD 49.17
- 2025 Q3: USD 41,360,305 · 2 holders · USD 45.25
- 2025 Q4: USD 1,120,059 · 1 holder · USD 40.89
- 2026 Q1: USD 980,908 · 1 holder · USD 35.81
- 2026 Q2: USD 7,965,000 · 1 holder · USD 43.03