Birkenstock Holding PLC

BIRK: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Birkenstock Earnings: Tariffs and Currency Headwinds Drive Cautious Outlook

Jelena Sokolova , Svetlana Menshchikova

Dec 18, 2025

Birkenstock reported fiscal 2025 results largely in line with our estimates, with 18% constant-currency sales growth and gross and operating margins expansions. However, 2026 guidance was cautious, citing tariffs and currency headwinds. Shares declined 8% in intraday trading on Dec. 18.

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Birkenstock Holding PLC

Birkenstock Earnings: Tariffs and Currency Headwinds Drive Cautious Outlook

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