Birkenstock HoldingHAM:7PV +1.75%65 Return-on-Tangible-Equity is Negative Tangible Equity% as of Mar. 2026. GuruFocus rates HAM:7PV with a GF Score™ of 65/100 and a GF Value™ of €59.68 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 1,011 Manufacturing - Apparel & Accessories companies, Birkenstock Holding ranks better than 99.9% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Birkenstock Holding's annualized net income for the quarter that ended in Mar. 2026 was €328 Mil. Birkenstock Holding's average shareholder tangible equity for the quarter that ended in Mar. 2026 was €-261 Mil. Therefore, Birkenstock Holding's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was Negative Tangible Equity%.
The historical rank and industry rank for Birkenstock Holding's Return-on-Tangible-Equity or its related term are showing as below:
HAM:7PV'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -52.5 Med: -52.5 Max: -52.5
Current: Negative Tangible Equity
During the past 6 years, Birkenstock Holding's highest Return-on-Tangible-Equity was -52.50%. The lowest was -52.50%. And the median was -52.50%.
HAM:7PV's Return-on-Tangible-Equity is ranked better than 99.9% of 1011
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 4.43
vs HAM:7PV: Negative Tangible Equity
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Birkenstock Holding Return-on-Tangible-Equity Related Terms
Birkenstock Holding Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Birkenstock Holding's Return-on-Tangible-Equity 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-Equity Comparison
For the Footwear & Accessories subindustry, Birkenstock Holding's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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-Equity vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Birkenstock Holding's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Birkenstock Holding's Return-on-Tangible-Equity 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-Equity, the net income of the last fiscal year and the average total shareholder tangible equity 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.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of Negative Tangible Equity% mean?
Birkenstock Holding (HAM:7PV) has a Return-on-Tangible-Equity of Negative Tangible Equity% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Birkenstock Holding and its competitors. According to the industry distribution chart, Birkenstock Holding ranks #1 out of 1011 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 0.099999999999994%.
Is Birkenstock Holding's Return-on-Tangible-Equity too high?
Birkenstock Holding's current Return-on-Tangible-Equity is Negative Tangible Equity%. Based on the distribution chart, Birkenstock Holding ranks #1 out of 1011 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-Equity compare to CROX and ONON?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Birkenstock Holding ranks #1 out of 1011 companies for Return-on-Tangible-Equity. This places Birkenstock Holding in the top 0% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 4.43. 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-Equity for a Manufacturing - Apparel & Accessories company?
The median Return-on-Tangible-Equity among Manufacturing - Apparel & Accessories companies is 4.43, based on 1,011 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. 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-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Birkenstock Holding and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Return-on-Tangible-Equity is 4.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Birkenstock Holding's current Return-on-Tangible-Equity is Negative Tangible Equity%. 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 €59.68, compared to a current price of €40.60 — trading 32% below its estimated fair value. The current Return-on-Tangible-Equity is Negative Tangible Equity%. Birkenstock Holding's overall GF Score™ is 65/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Birkenstock Holding (HAM:7PV), the current Return-on-Tangible-Equity is Negative Tangible Equity% 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 €40.60 is trading 32% below its estimated GF Value™ of €59.68.
GuruFocus considers Birkenstock Holding to be Significantly Undervalued.
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-Equity 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 
