Birkenstock Holding PLC (BIRK) vs Forward Industries, Inc. (FWDI)

Birkenstock Holding PLC and Forward Industries, Inc. are both Footwear & Accessories companies. Birkenstock Holding PLC is the larger, with a market value of $5.7B against $614.4M — 9.3× the size. Forward Industries, Inc. has negative trailing earnings, so its P/E is not meaningful; Birkenstock Holding PLC trades at 15.7×. Forward Industries, Inc. grew revenue faster over the last twelve months: 309.5% against 19.2%. Birkenstock Holding PLC has the higher net margin (14.7% vs −2,073.8%) and the higher return on invested capital (8.63% vs −127.6%). Across the 17 metrics below, Birkenstock Holding PLC leads on 13 and Forward Industries, Inc. on 4.

Valuation

Metric BIRK FWDI Footwear & Accessories median
P/E 15.75 n/m 15.26
P/S 2.31 13.74 1.16
P/B 1.87 1.54 2.59
Price to free cash flow 18.66 n/m 12.20
EV/EBITDA 9.52 n/m 8.91
EV/Sales 2.83 13.52 1.24
Earnings yield 6.35% (374.73%) 6.11%
Free cash flow yield 5.36% (132.54%) 4.85%

Profitability

Metric BIRK FWDI Footwear & Accessories median
Gross margin 56.84% 70.56% 49.76%
Operating margin 24.25% (1,771.61%) 8.44%
Net margin 14.74% (2,073.82%) 5.64%
Free cash flow margin 12.39% (1,821.29%) 8.18%
Return on equity 12.45% (466.18%) 12.45%
Return on assets 6.40% (360.71%) 6.15%
Return on invested capital 8.63% (127.61%) 9.58%

Growth

Metric BIRK FWDI Footwear & Accessories median
Revenue growth (TTM) 19.21% 309.45% 3.68%
EPS growth (last fiscal year) 85.59% (1,289.27%) —
Revenue growth, 5-year CAGR — (12.01%) 7.17%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric BIRK FWDI Footwear & Accessories median
Debt to equity 0.67 0.00 0.46
Current ratio 3.78 0.17 1.96
Net debt to EBITDA 1.46 6.33 1.00

Dividend

Metric BIRK FWDI Footwear & Accessories median
Dividend yield — — 2.20%
Payout ratio — 0.00 0.00

Size

Metric BIRK FWDI Footwear & Accessories median
Market cap 5.72b 614.40m 614.40m

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