Birkenstock Holding plc
BIRK · Footwear, (No Rubber) · EDGAR filings ↗
Reference price $43.50 — last insider sale, 2026-06-08 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
A85Dominant premium-footwear franchise with category-leading margins, strong growth and durable brand pricing power.
Strengths
- Top-decile operating margin (26.2%, 90th pct), net margin 16.6% (82nd) and FCF margin 14.7%, with revenue +21.8% and net income +90%
- Wide-moat global brand (59% gross margin) with DTC expansion and pricing power
Risks
- Substantial leverage (~€1.15bn debt) with restrictive covenants and a potentially large Tax Receivable Agreement liability
- Controlled-company/FPI governance and identified material weaknesses in internal controls
Notable findings
- Material weakness• material weaknesses identified in our internal control over financial reporting and our ability to remediate such material weaknesses; • our status as a foreign private issuer and as a “controlle
- Strong balance sheetStrong balance sheet — $386M cash & investments
- Revenue declineRevenue -23.8% YoY
- Insider sellingInsider selling — 2 open-market sale(s) by 1 insider(s) (~$4M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
59.1%
Operating margin
26.2%
Net margin
16.6%
Return on equity
12.8%
Return on assets
7.0%
Revenue growth (QoQ)
-23.8%
Net-income growth
90.5%
Interest coverage
6.9×
Current ratio
2.8×
Free cash flow
$361M
Tangible book value
$1.4B
Cash & investments
$386M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-08 | Bouyakhf Mehdi Nico | Sell | 30K | $43.50 |
| 2026-06-05 | Bouyakhf Mehdi Nico | Sell | 60K | $42.07 |
| 2026-04-29 | Arnault Alexandre | Tax withheld | 690 | $37.50 |
| 2026-04-29 | Kumar Nisha | Option exercise | 1.6K | — |
| 2026-04-29 | Kumar Nisha | Tax withheld | 690 | $37.50 |
| 2026-04-29 | Kennedy Ruth Anne Francis | Option exercise | 1.6K | — |
| 2026-04-29 | Kennedy Ruth Anne Francis | Tax withheld | 744 | $37.50 |
| 2026-04-29 | Pitcher Anne | Option exercise | 1.6K | — |
| 2026-04-29 | Pitcher Anne | Tax withheld | 325 | $37.50 |
| 2026-04-29 | Arnault Alexandre | Option exercise | 1.6K | — |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (1)
Suppliers (0)
Named in the 10-K; linked when we track them.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2025-12-18 | 2025-09-30 | 0001193125-25-323599 ↗ |
| 20-F | 2024-12-18 | 2024-09-30 | 0000950170-24-137610 ↗ |
| 20-F | 2024-01-18 | 2023-09-30 | 0000950170-24-005395 ↗ |