BIRK
Birkenstock Holding plc
BIRK offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
NKE
NIKE, Inc.
NKE has a slight edge over BIRK overall, supported by stronger valuation and lower modeled downside.
BIRK Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Stable |
BIRK's revenue and profitability are currently healthy, and its cash flow and balance sheet are stable.
NKE Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Strong |
NKE's profitability and balance sheet are currently healthy, and its revenue and cash flow are stable.
BIRK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 17x | $34.66 | -2.9% |
| Current | 17x | $35.70 | — |
| Fair | 32x | $64.55 | +81% |
| Expensive | 96x | $195 | +447% |
Historical ranges are pointers, not guarantees.
BIRK's PE is 17x, but its earnings don't support one, so it isn't a reliable read right now.
NKE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 18x | $37.76 | — |
| Cheap | 23x | $47.70 | +26% |
| Forward | 30x | $37.76 | — |
| Fair | 33x | $68.16 | +80% |
| Expensive | 47x | $97.86 | +159% |
Historical ranges are pointers, not guarantees.
NKE has the edge over BIRK in the historical PE scenario, which offers more potential upside but is not a forecast.
BIRK Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for BIRK, with profitability holding steady.
NKE Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Stable | |
| Decline | |
| Improving | |
| Moderate | |
| Low |
Analysts expect NKE's profitability to improve, but its revenue to decline. However, they disagree widely on these estimates.
BIRK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $2.04 | +12% |
| Q1 2026 | $2.13 | +42% |
| Q4 2025 | $2.26 | +74% |
| Q3 2025 | $2.08 | +84% |
| Q2 2025 | $1.82 | +176% |
| Q1 2025 | $1.50 | +154% |
| Q4 2024 | $1.30 | +177% |
| Q3 2024 | $1.13 | +146% |
BIRK has the edge over NKE on earnings, with more consistent year-over-year improvement.
NKE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.27 | -39% |
| Q3 2026 | $2.09 | +7.2% |
| Q2 2026 | $2.10 | -2.8% |
| Q1 2026 | $1.51 | -50% |
| Q4 2025 | $1.70 | -48% |
| Q3 2025 | $1.95 | -44% |
| Q2 2025 | $2.16 | -42% |
| Q1 2025 | $3.01 | -11% |
| Q4 2024 | $3.24 | -5.3% |
NKE's earnings per share have fallen from their peak: $2.09 over the past year, against $3.82 in late 2021.
BIRK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $812.6M | +15% |
| Q1 2026 | $698.2M | +9.4% |
| Q4 2025 | $446.5M | +11% |
| Q3 2025 | $584.7M | +15% |
| Q2 2025 | $705.5M | +12% |
| Q1 2025 | $638M | +19% |
| Q4 2024 | $401.8M | +19% |
| Q3 2024 | $506.3M | +22% |
BIRK has the edge over NKE on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 29% | -2.4 points |
| Q1 2026 | 26% | -4.3 points |
| Q4 2025 | 19% | +1.8 points |
| Q3 2025 | 21% | -0.1 points |
| Q2 2025 | 31% | +3.6 points |
| Q1 2025 | 31% | +3 points |
| Q4 2024 | 18% | +6 points |
| Q3 2024 | 21% | +15 points |
BIRK has the edge over NKE on profitability, with a higher operating margin.
NKE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11.2B | -4.3% |
| Q2 2026 | $11B | -1.1% |
| Q1 2026 | $11.3B | +0.1% |
| Q4 2025 | $12.4B | +0.6% |
| Q3 2025 | $11.7B | +1.1% |
| Q2 2025 | $11.1B | -12% |
| Q1 2025 | $11.3B | -9.3% |
| Q4 2024 | $12.4B | -7.7% |
NKE's revenue fell from its 2023 peak and has held roughly level since: $11.2B last quarter, down 4.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8.2% | +0.3 points |
| Q2 2026 | 12% | +9.2 points |
| Q1 2026 | 5.8% | -1.7 points |
| Q4 2025 | 8% | -3.4 points |
| Q3 2025 | 7.9% | -3.4 points |
| Q2 2025 | 2.9% | -11 points |
| Q1 2025 | 7.5% | -3.8 points |
| Q4 2024 | 11% | -2.9 points |
NKE's operating margin was 8.2% last quarter, about level with the same quarter a year ago.
BIRK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $224M | -16% |
| Q1 2026 | $2.2M | +$43.5M |
| Q4 2025 | -$72.7M | -$43.4M |
| Q3 2025 | $145.5M | +3.4% |
| Q2 2025 | $266.7M | -10% |
| Q1 2025 | -$41.3M | -212% |
| Q4 2024 | -$29.2M | +$41.4M |
| Q3 2024 | $140.8M | +32% |
BIRK has the edge over NKE on cash flow, with more consistent year-over-year improvement.
NKE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$64M | -527% |
| Q2 2026 | $1.5B | +313% |
| Q1 2026 | $284M | -83% |
| Q4 2025 | $386M | -58% |
| Q3 2025 | $15M | -95% |
| Q2 2025 | $363M | -85% |
| Q1 2025 | $1.7B | -11% |
| Q4 2024 | $920M | -65% |
NKE usually generates cash, though not every quarter: the latest was −$64M, but it generated $2.1B over the past year.
BIRK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.3% | -2.4M shares |
| 1 year | -2.7% | -5M shares |
| 3 years | -0.7% | -1.2M shares |
BIRK has the edge over NKE on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $260.5M |
| Q1 2026 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
NKE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +3.2M shares |
| 1 year | +0.4% | +5.2M shares |
| 3 years | -3.8% | -59.1M shares |
| 5 years | -8.4% | -135M shares |
| Available history | -6.9% | -110M shares |
NKE has 1.5B diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $20M |
| Q3 2025 | $126M |
| Q2 2025 | $199M |
| Q1 2025 | $506M |
| Q4 2024 | $1.1B |
NKE has spent almost nothing on buybacks in the past year.
BIRK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 1.8x | Healthy |
| Q1 2026 | 1.8x | Healthy |
| Q4 2025 | 1.3x | Healthy |
| Q3 2025 | 1.2x | Healthy |
| Q2 2025 | 1.4x | Healthy |
| Q1 2025 | 1.6x | Healthy |
| Q4 2024 | 1.6x | Healthy |
| Q3 2024 | 1.6x | Healthy |
BIRK's net debt is about 1.8 years of its operating earnings (EBITDA), up from 1.4 years a year ago.
NKE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.2x | Very low |
| Q2 2026 | 0.1x | Very low |
| Q1 2025 | 0.1x | Very low |
| Q4 2024 | 0.2x | Very low |
| Q3 2024 | 0.1x | Very low |
| Q2 2024 | -0.1x | Net Cash |
| Q1 2024 | -0.0x | Very low |
| Q4 2023 | 0.1x | Very low |
NKE has the edge over BIRK on leverage, with a lower net debt burden relative to earnings.
BIRK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.6 | Neutral |
| Stochastic | 39.8 | Neutral |
BIRK's weekly RSI is 48 (neutral) and its Stochastic is 40 (neutral).
NKE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.0 | Neutral |
| Stochastic | 57.5 | Neutral |
NKE's weekly RSI is 40 (neutral) and its Stochastic is 58 (neutral).
BIRK PE vs Consumer Cyclical Sector
| Metric | BIRK | Sector median | Relative |
|---|---|---|---|
| PE | 17x | 18x | 3.1% below |
| PE % | 20 | 29 | 9 pts below |
BIRK has the edge over NKE on valuation relative to its sector.
NKE PE vs Consumer Cyclical Sector
| Metric | NKE | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 18x | 0.3% above |
| PE % | 2 | 47 | 45 pts below |
NKE is trading at 18x earnings, in line with the Consumer Cyclical sector's median of 18x.
BIRK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $34.2 | 4.4% above |
| 20 week MA | $36.7 | 2.6% below |
| 50 week MA | $38.8 | 8.1% below |
| 100 week MA | $44.3 | 19% below |
BIRK has stronger trend alignment. BIRK is above 1 of 4 weekly averages versus NKE above 1 of 5.
NKE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $36.7 | 2.8% above |
| 20 week MA | $39.2 | 3.6% below |
| 50 week MA | $48.0 | 21% below |
| 100 week MA | $58.4 | 35% below |
| 200 week MA | $79.2 | 52% below |
NKE has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 52% below its 200-week average.
BIRK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2023 | $36.4 | $48.7 | +34% |
| 2024 | $48.7 | $59.1 | +21% |
| 2025 | $59.1 | $42.4 | -28% |
| 2026 YTD | $42.4 | $35.7 | -16% |
BIRK has the edge over NKE on returns for 2026, with the stronger performance.
NKE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $101.6 | $141.6 | +39% |
| 2021 | $141.6 | $165.7 | +17% |
| 2022 | $165.7 | $116.3 | -30% |
| 2023 | $116.3 | $108.6 | -6.6% |
| 2024 | $108.6 | $76.4 | -30% |
| 2025 | $76.4 | $60.9 | -20% |
| 2026 YTD | $60.9 | $37.8 | -38% |
NKE has finished four years in a row lower, and it's down 38% so far in 2026.