Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Birkenstock HoldingHAM:7PV +1.39%65 Return-on-Tangible-Asset is 16.68% as of Mar. 2026, which is 26% above its 10-year median of 13.20. GuruFocus rates HAM:7PV with a GF Score™ of 65/100 and a GF Value™ of €61.17 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 1,069 Manufacturing - Apparel & Accessories companies, Birkenstock Holding ranks better than 97.47% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Birkenstock Holding's annualizedNet Income for the quarter that ended in Mar. 2026 was €328 Mil. Birkenstock Holding's average total tangible assets for the quarter that ended in Mar. 2026 was €1,963 Mil. Therefore, Birkenstock Holding's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 16.68%.
The historical rank and industry rank for Birkenstock Holding's Return-on-Tangible-Asset or its related term are showing as below:
HAM:7PV'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -17.48 Med: 13.2 Max: 20.18
Current: 19.19
During the past 6 years, Birkenstock Holding's highest Return-on-Tangible-Asset was 20.18%. The lowest was -17.48%. And the median was 13.20%.
HAM:7PV's Return-on-Tangible-Asset is ranked better than 97.47% of 1069
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 1.99
vs HAM:7PV: 19.19
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Birkenstock Holding Return-on-Tangible-Asset Related Terms
Birkenstock Holding Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Birkenstock Holding's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
HAM:7PV vs CROX, ONON, SHOO: Return-on-Tangible-Asset Comparison
For the Footwear & Accessories subindustry, Birkenstock Holding's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Birkenstock Holding Return-on-Tangible-Asset vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Birkenstock Holding's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Birkenstock Holding's Return-on-Tangible-Asset falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 16.68% mean?
Birkenstock Holding (HAM:7PV) has a Return-on-Tangible-Asset of 16.68% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Birkenstock Holding and its competitors. This is 26% above median its historical median of 13.20. According to the industry distribution chart, Birkenstock Holding ranks #27 out of 1069 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 2.5%.
Is Birkenstock Holding's Return-on-Tangible-Asset too high?
Birkenstock Holding's current Return-on-Tangible-Asset of 16.68% is 26% above median its 10-year median of 13.20. The Manufacturing - Apparel & Accessories industry median Return-on-Tangible-Asset is 1.99. Birkenstock Holding's value of 16.68% is 738.2% above this industry median. Based on the distribution chart, Birkenstock Holding ranks #27 out of 1069 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Birkenstock Holding has a GF Score™ of 65/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Birkenstock Holding's Return-on-Tangible-Asset compare to CROX and ONON?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Birkenstock Holding ranks #27 out of 1069 companies for Return-on-Tangible-Asset. This places Birkenstock Holding in the top 3% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 1.99. Birkenstock Holding's value of 16.68% is 738.2% above this benchmark. While the company's 10-year median is 13.20 vs. the industry median of 1.99, Birkenstock Holding has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Manufacturing - Apparel & Accessories company?
The median Return-on-Tangible-Asset among Manufacturing - Apparel & Accessories companies is 1.99, based on 1,069 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Birkenstock Holding's current Return-on-Tangible-Asset of 16.68% is 738.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Birkenstock Holding and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Return-on-Tangible-Asset is 1.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Birkenstock Holding's current Return-on-Tangible-Asset is 16.68%, which is 26% above median its own 10-year median of 13.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Birkenstock Holding stock overvalued right now?
Based on GuruFocus' analysis, Birkenstock Holding (HAM:7PV) is currently considered Significantly Undervalued. The stock's GF Value™ is €61.17, compared to a current price of €36.60 — trading 40.2% below its estimated fair value. The current Return-on-Tangible-Asset is 16.68%, which is 26% above median its 10-year median of 13.20 and 738.2% above the Manufacturing - Apparel & Accessories industry median of 1.99. Birkenstock Holding's overall GF Score™ is 65/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Birkenstock Holding (HAM:7PV), the current Return-on-Tangible-Asset is 16.68% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Birkenstock Holding (HAM:7PV) Overvalued in 2026?
Based on GuruFocus' analysis, Birkenstock Holding stock appears to be undervalued.
The current stock price of €36.60 is trading 40.2% below its estimated GF Value™ of €61.17.
GuruFocus considers Birkenstock Holding to be Significantly Undervalued.
Key valuation signals for HAM:7PV:
Return-on-Tangible-Asset: 16.68% (26% above median its 10-year median of 13.20)
GF Value™: €61.17 vs. price of €36.60 (40.2% below fair value)
Industry Position: 738.2% above the Manufacturing - Apparel & Accessories median (#27 of 1069)
No single metric tells the full story. See the HAM:7PV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Birkenstock is a German footwear brand known for comfort-focused, timeless designs, with 76% of 2022 sales coming from its top five iconic models. Products are made in Europe using sustainable, mostly locally sourced materials. The brand combines orthopedic function with everyday style, appealing to a broad audience. The Americas account for 52% of sales, EMEA 37%, with the remainder coming from Asia-Pacific, which has also the higher future growth expectations.
65GF Score
Get the complete analysis for HAM:7PV
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
HAM:7PV has been successfully added to your 
