Brand StrengthBirkenstock remains one of the best run brands, if not the best run brand, in our coverage, and its high margins, and full price realization underscores the strength.
Financial PerformanceThe 2Q25 EPS, revenue, gross margin, and EBITDA margins beat consensus expectations.
Market PositioningBIRK is among the most insulated from tariffs given its global exposure and 100% European production.