BIRK - Birkenstock Holding plc
Price:
--
--
|
CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$52.27
DETAILS
HIGH:
$65.00
LOW:
$41.00
MEDIAN:
$52.00
CONSENSUS:
$52.27
UPSIDE:
26.32%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Revenue | ||||||
| Revenue | 2,097.4 | 1,804.7 | 1,491.9 | 1,242.8 | 962.1 | 728.5 |
| Cost of Revenue | 857.7 | 744.0 | 566.1 | 493.0 | 416.5 | 468.3 |
| Gross Profit | 1,239.7 | 1,060.7 | 925.8 | 749.8 | 545.6 | 260.3 |
| Operating Expenses | ||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 607.2 | 540.8 | 558.7 | 366.7 | 334.0 | 287.2 |
| Other Expenses | 82.9 | 98.8 | 106.4 | 20.0 | (18.6) | 15.8 |
| Operating Expenses | 690.2 | 639.6 | 665.1 | 386.8 | 315.4 | 303.0 |
| Operating Income | ||||||
| Operating Income | 549.5 | 421.1 | 260.7 | 363.0 | 230.2 | (42.7) |
| Interest Expense | 75.6 | 108.6 | 123.3 | 82.6 | 79.6 | 87.2 |
| Interest Income | 7.0 | 8.0 | 2.4 | 0.1 | 0 | 0 |
| Profitability | ||||||
| EBITDA | 659.1 | 503.7 | 360.4 | 414.4 | 230.2 | 3.3 |
| EBIT | 545.5 | 402.4 | 276.9 | 333.2 | 230.2 | (42.7) |
| Income Before Tax | 470.0 | 293.8 | 153.7 | 250.5 | 150.6 | (129.9) |
| Income Tax Expense | 121.7 | 102.2 | 78.6 | 63.4 | 34.2 | (23.7) |
| Net Income | 348.3 | 191.6 | 75.0 | 187.1 | 116.4 | (106.2) |
| Per Share Data | ||||||
| EPS (Basic) | 1.87 | 1.02 | 0.41 | 1.13 | 0.46 | -0.57 |
| EPS (Diluted) | 1.87 | 1.02 | 0.41 | 1.13 | 0.46 | -0.57 |
| Shares Outstanding | 186.5 | 187.6 | 182.7 | 182.7 | 182.7 | 187.8 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Current Assets | ||||||
| Cash & Cash Equivalents | 329.1 | 355.8 | 344.4 | 307.1 | 235.3 | 96.2 |
| Short-Term Investments | 11.8 | 12.5 | 9.0 | 0 | 0 | 0 |
| Net Receivables | 189.4 | 142.3 | 118.2 | 98.7 | 129.0 | 65.8 |
| Inventory | 704.4 | 624.8 | 595.1 | 535.6 | 359.2 | 211.7 |
| Other Current Assets | 19.4 | 10.3 | 4.5 | 8.7 | 5.4 | 2.4 |
| Total Current Assets | 1,275.4 | 1,163.3 | 1,080.5 | 959.9 | 731.2 | 380.1 |
| Non-Current Assets | ||||||
| Property, Plant & Equipment | 537.3 | 490.2 | 409.0 | 318.5 | 252.2 | 208.9 |
| Goodwill | 1,512.3 | 1,554.6 | 1,593.9 | 1,674.3 | 1,556.7 | 13.0 |
| Intangible Assets | 1,577.2 | 1,639.4 | 1,705.7 | 1,815.2 | 1,685.8 | 182.8 |
| Long-Term Investments | 0 | 3.3 | 4.2 | 0 | 0 | 0 |
| Other Non-Current Assets | 28.4 | 34.1 | 34.1 | 16.1 | 41.7 | 2.3 |
| Total Non-Current Assets | 3,666.8 | 3,721.7 | 3,746.9 | 3,828.7 | 3,536.3 | 423.5 |
| Total Assets | 4,942.1 | 4,884.9 | 4,827.5 | 4,788.6 | 4,267.5 | 803.6 |
| Current Liabilities | ||||||
| Account Payables | 72.1 | 74.7 | 79.6 | 57.3 | 66.4 | 21.5 |
| Short-Term Debt | 17.1 | 24.7 | 37.3 | 46.6 | 40.7 | 0 |
| Deferred Revenue | 6.2 | 8.0 | 9.7 | 4.0 | 3.8 | 3.2 |
| Other Current Liabilities | 96.4 | 52.3 | 128.7 | 99.8 | 22.4 | 65.7 |
| Total Current Liabilities | 453.7 | 447.9 | 378.6 | 324.0 | 261.7 | 169.5 |
| Non-Current Liabilities | ||||||
| Long-Term Debt | 1,099.4 | 1,141.3 | 1,787.1 | 1,891.0 | 1,781.7 | 100 |
| Deferred Tax Liabilities | 163.4 | 131.0 | 109.8 | 92.9 | 79.0 | 16.2 |
| Other Non-Current Liabilities | 339.9 | 382.8 | 37.8 | 33.1 | 3.7 | 10.3 |
| Total Non-Current Liabilities | 1,765.7 | 1,812.0 | 2,048.3 | 2,106.8 | 1,941.5 | 225.8 |
| Total Liabilities | 2,219.4 | 2,259.9 | 2,426.9 | 2,430.8 | 2,203.1 | 395.4 |
| Stockholders' Equity | ||||||
| Common Stock | 0 | 0 | 182.7 | 182.7 | 182.7 | 0 |
| Retained Earnings | 765.9 | 417.6 | 226.0 | 151.0 | (36.2) | 95.1 |
| Accumulated Other Comprehensive Income | (35.5) | 38.9 | 97.5 | 129.8 | 23.5 | 303.0 |
| Total Stockholders' Equity | 2,722.7 | 2,625.0 | 2,400.6 | 2,357.8 | 2,064.4 | 398.2 |
| Total Liabilities & Equity | 4,942.1 | 4,884.9 | 4,827.5 | 4,788.6 | 4,267.5 | 793.6 |
| Debt Metrics | ||||||
| Total Debt | 1,309.4 | 1,350.1 | 1,954.5 | 2,054.1 | 1,922.7 | 220.4 |
| Net Debt | 980.4 | 994.2 | 1,610.1 | 1,747.0 | 1,687.4 | 124.3 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Operating Activities | ||||||
| Net Income | 348.3 | 191.6 | 75.0 | 187.1 | 84.2 | 101.3 |
| Depreciation & Amortization | 113.5 | 101.3 | 83.4 | 87.4 | 56.5 | 46.1 |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Working Capital | (153.6) | (88.2) | (80.5) | (145.0) | 24.9 | 30.8 |
| Other Non-Cash Items | (56.7) | 121.9 | 202.1 | 41.3 | 13.6 | (8.7) |
| Operating Cash Flow | 373.2 | 428.7 | 358.7 | 234.1 | 180.9 | 193.6 |
| Investing Activities | ||||||
| Capital Expenditure | (85.0) | (73.9) | (102.9) | (72.6) | (21.8) | (22.3) |
| Acquisitions | 0 | 0 | 0 | (1.0) | 2.0 | 0 |
| Purchases of Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | (16.5) | 6.6 | 1.4 | 2.0 | 1.5 | 18.8 |
| Investing Cash Flow | (93.2) | (58.8) | (100.7) | (71.6) | (18.1) | (3.5) |
| Financing Activities | ||||||
| Net Debt Issuance | (55.4) | (699.3) | (81.6) | (34.9) | 96.4 | (27.4) |
| Stock Repurchased | (194.7) | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | (156.1) | (100.4) |
| Other Financing Activities | (57.4) | (91.7) | (117.7) | (70.4) | (25.1) | (2.5) |
| Financing Cash Flow | (307.4) | (355.0) | (199.3) | (105.3) | (84.7) | (130.3) |
| Cash Position | ||||||
| Net Change in Cash | (10.5) | 11.4 | 37.3 | 71.7 | 234.9 | 57.2 |
| Cash at Beginning | 397.1 | 344.4 | 307.1 | 235.3 | 0 | 39.0 |
| Cash at End | 386.7 | 355.8 | 344.4 | 307.1 | 234.9 | 96.2 |
| Free Cash Flow | 288.3 | 354.8 | 255.8 | 161.5 | 159.6 | 171.3 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 2,097.4 | 1,804.7 | 1,491.9 | 1,242.8 | 962.1 | 728.5 |
| Gross Profit | 1,239.7 | 1,060.7 | 925.8 | 749.8 | 545.6 | 260.3 |
| Operating Income | 549.5 | 421.1 | 260.7 | 363.0 | 230.2 | (42.7) |
| Net Income | 348.3 | 191.6 | 75.0 | 187.1 | 116.4 | (106.2) |
| EPS (Diluted) | 1.87 | 1.02 | 0.41 | 1.13 | 0.46 | -0.57 |
| Balance Sheet | ||||||
| Cash & Equivalents | 329.1 | 355.8 | 344.4 | 307.1 | 235.3 | 96.2 |
| Total Assets | 4,942.1 | 4,884.9 | 4,827.5 | 4,788.6 | 4,267.5 | 803.6 |
| Total Debt | 1,309.4 | 1,350.1 | 1,954.5 | 2,054.1 | 1,922.7 | 220.4 |
| Stockholders' Equity | 2,722.7 | 2,625.0 | 2,400.6 | 2,357.8 | 2,064.4 | 398.2 |
| Cash Flow | ||||||
| Operating Cash Flow | 373.2 | 428.7 | 358.7 | 234.1 | 180.9 | 193.6 |
| Capital Expenditure | (85.0) | (73.9) | (102.9) | (72.6) | (21.8) | (22.3) |
| Free Cash Flow | 288.3 | 354.8 | 255.8 | 161.5 | 159.6 | 171.3 |