Is Birkenstock Holding Plc overvalued or undervalued?

As of 17 October 2025, the valuation grade for Birkenstock Holding Plc has moved from attractive to fair, indicating a shift in its perceived investment quality. The company appears to be fairly valued at this time, with a P/E ratio of 37, a Price to Book Value of 3.41, and an EV to EBITDA of 17.38. In comparison, a peer such as the industry average shows a P/E of approximately 26.30, suggesting that Birkenstock is trading at a premium relative to its peers.
The recent stock performance has been underwhelming, with a year-to-date return of -25.98% compared to a positive return of 13.30% for the S&P 500, reinforcing the notion that the stock may not be an attractive investment at this moment. Overall, given the valuation metrics and peer comparisons, Birkenstock Holding Plc is currently fairly valued.