Is Birkenstock Holding Plc overvalued or undervalued?

As of 31 October 2025, the valuation grade for Birkenstock Holding Plc moved from expensive to fair. The company appears to be fairly valued based on its current metrics. Key ratios include 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 average company in the industry has a P/E of approximately 26.30, indicating that Birkenstock's valuation is in line with or slightly above its peers.
Despite the fair valuation, Birkenstock has underperformed relative to the S&P 500, with a year-to-date return of -29.56% compared to the index's 16.30%. This significant underperformance may suggest that the market is currently pricing in challenges that the company faces, despite its fair valuation status.