Is Birkenstock Holding Plc overvalued or undervalued?

As of 31 October 2025, the valuation grade for Birkenstock Holding Plc has moved from expensive to fair. Based on the current metrics, the company appears to be fairly valued. The P/E ratio stands at 37, while the EV to EBITDA ratio is 17.38, and the PEG ratio is notably low at 0.33, indicating potential for growth relative to its price.
In comparison to its peers, Birkenstock's valuation metrics are competitive; for instance, a peer has a P/E ratio of 26.30 and an EV to EBITDA of 14.41. This suggests that Birkenstock is priced higher than some of its competitors but may reflect its brand strength and market positioning. Over the past year, Birkenstock has underperformed relative to the S&P 500, with a return of -14.14% compared to the index's 19.89%, reinforcing the notion that the stock may be undervalued given its current price levels.