Birkenstock Holding PLC (BIRK) vs Crocs, Inc. (CROX)

Birkenstock Holding PLC and Crocs, Inc. are both Footwear & Accessories companies. Birkenstock Holding PLC and Crocs, Inc. are of similar size ($6.0B and $5.8B). Crocs, Inc. trades at the lower P/E: 10.2× against 15.3×. Birkenstock Holding PLC grew revenue faster over the last twelve months: 19.2% against −2.03%. Birkenstock Holding PLC has the higher net margin (14.7% vs 14.6%) and the lower return on invested capital (8.63% vs 20.8%). Across the 20 metrics below, Crocs, Inc. leads on 12 and Birkenstock Holding PLC on 8.

Valuation

Metric BIRK CROX Footwear & Accessories median
P/E 15.27 10.21 15.55
P/S 2.24 1.44 1.12
P/B 1.81 4.23 3.17
Price to free cash flow 18.09 8.40 12.19
EV/EBITDA 9.29 7.59 9.58
EV/Sales 2.76 1.73 1.20
Earnings yield 6.55% 9.80% 6.31%
Free cash flow yield 5.53% 11.90% 5.10%

Profitability

Metric BIRK CROX Footwear & Accessories median
Gross margin 56.84% 57.47% 49.08%
Operating margin 24.25% 20.73% 8.69%
Net margin 14.74% 14.63% 5.72%
Free cash flow margin 12.39% 17.38% 8.58%
Return on equity 12.45% 42.30% 13.13%
Return on assets 6.40% 13.48% 6.28%
Return on invested capital 8.63% 20.83% 10.98%

Growth

Metric BIRK CROX Footwear & Accessories median
Revenue growth (TTM) 19.21% (2.03%) (0.32%)
EPS growth (last fiscal year) 85.59% (109.45%) 12.95%
Revenue growth, 5-year CAGR — 23.86% 9.43%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric BIRK CROX Footwear & Accessories median
Debt to equity 0.67 0.94 0.49
Current ratio 3.78 1.49 2.26
Net debt to EBITDA 1.46 4.81 0.38

Dividend

Metric BIRK CROX Footwear & Accessories median
Dividend yield — — 1.95%
Payout ratio — — 0.37

Size

Metric BIRK CROX Footwear & Accessories median
Market cap 5.99b 5.80b 1.10b

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