Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Birkenstock Holding plc reported third-quarter fiscal 2026 revenue growth of 15% in constant currency, reaching the high end of annual guidance.</li><li>Growth was broad-based, with EMEA up 15% and APAC up 23%, excluding timing shifts related to the Australian distributor acquisition.</li><li>Direct-to-consumer revenue increased 16%, outpacing B2B, supported by 50% growth in owned retail revenue and high single-digit same-store sales growth.</li></ul>

Birkenstock Holding plc reported third-quarter fiscal 2026 revenue growth of 15% in constant currency, reaching the high end of annual guidance.Growth was broad-based, with EMEA up 15% and APAC up 23%, excluding timing shifts related to the Australian distributor acquisition.Direct-to-consumer revenue increased 16%, outpacing B2B, supported by 50% growth in owned retail revenue and high single-digit same-store sales growth.

Birkenstock's Retail Breakthrough: 13 New Stores Fuel Global Expansion!

<ul>
<li>Birkenstock Holding plc reported fiscal second quarter 2026 results demonstrating resilience amid a challenging macroeconomic environment characterized by geopolitical conflicts, inflationary pressures, tariff uncertainties, and currency headwinds.</li>
<li>The company achieved reported revenues of EUR 618 million, up 8% year-over-year, with constant currency growth reaching 14%, aligning with the management’s annual guidance of 13% to 15%.</li>
<li>Growth was broad-based across all geographic segments, with Americas up 14% in constant currency driven by strong B2B expansion and digital sales; EMEA growing 11% despite an estimated 300 basis point drag due to Middle East disruptions and muted consumer sentiment linked to inflation and energy costs; and APAC delivering the strongest performance with a 30% constant currency increase.</li>
</ul>


Birkenstock Holding plc reported fiscal second quarter 2026 results demonstrating resilience amid a challenging macroeconomic environment characterized by geopolitical conflicts, inflationary pressures, tariff uncertainties, and currency headwinds.
The company achieved reported revenues of EUR 618 million, up 8% year-over-year, with constant currency growth reaching 14%, aligning with the management’s annual guidance of 13% to 15%.
Growth was broad-based across all geographic segments, with Americas up 14% in constant currency driven by strong B2B expansion and digital sales; EMEA growing 11% despite an estimated 300 basis point drag due to Middle East disruptions and muted consumer sentiment linked to inflation and energy costs; and APAC delivering the strongest performance with a 30% constant currency increase.


Birkenstock’s Brand Powerhouse Moment Meets A 350-Basis-Point FX Drag!

<ul>
<li>Birkenstock Holding plc's latest earnings report for the first quarter of fiscal 2026 presents a mixed but strategically positive picture, reflecting both achievements and challenges.</li>
<li>From a neutral investment thesis, the company's financial performance showcases strong fundamentals and growth strategy tempered by external factors that investors should consider carefully.</li>
<li>Positively, Birkenstock reported robust revenue growth, reaching EUR 402 million with an 11% increase on a reported basis and an impressive 18% in constant currency.</li>
</ul>


Birkenstock Holding plc's latest earnings report for the first quarter of fiscal 2026 presents a mixed but strategically positive picture, reflecting both achievements and challenges.
From a neutral investment thesis, the company's financial performance showcases strong fundamentals and growth strategy tempered by external factors that investors should consider carefully.
Positively, Birkenstock reported robust revenue growth, reaching EUR 402 million with an 11% increase on a reported basis and an impressive 18% in constant currency.


Birkenstock’s Store Expansion Strategy Signals a Bigger DTC Ambition

<ul>
<li>Birkenstock Holding plc reported its fiscal fourth quarter and full-year 2025 earnings, showcasing remarkable performance amidst various global challenges.</li>
<li>The company noted a significant 18% revenue growth in constant currency terms, surpassing their initial guidance.</li>
<li>This growth was driven by an 18% revenue increase in the Americas, a 14% rise in EMEA, and a robust 34% jump in the APAC region.</li>
</ul>


Birkenstock Holding plc reported its fiscal fourth quarter and full-year 2025 earnings, showcasing remarkable performance amidst various global challenges.
The company noted a significant 18% revenue growth in constant currency terms, surpassing their initial guidance.
This growth was driven by an 18% revenue increase in the Americas, a 14% rise in EMEA, and a robust 34% jump in the APAC region.


Birkenstock Is Expanding Manufacturing Capacity by ~10%

<ul>
<li>Birkenstock Holding plc's second-quarter results for fiscal year 2025 highlight a period of robust revenue growth, resilient operational strategies, and geographical expansion.</li>
<li>Total revenues reached EUR 574 million, marking a 19% increase year-over-year in reported currency, and an 18% increase in constant currency.</li>
<li>This growth was fueled by a balanced performance across both Business-to-Business (B2B) and Direct-to-Consumer (DTC) channels, both of which exhibited strong demand dynamics and strategic channel enhancements.</li>
</ul>


Birkenstock Holding plc's second-quarter results for fiscal year 2025 highlight a period of robust revenue growth, resilient operational strategies, and geographical expansion.
Total revenues reached EUR 574 million, marking a 19% increase year-over-year in reported currency, and an 18% increase in constant currency.
This growth was fueled by a balanced performance across both Business-to-Business (B2B) and Direct-to-Consumer (DTC) channels, both of which exhibited strong demand dynamics and strategic channel enhancements.


Birkenstock’s Profit Engine Revealed: How New Factories & Smart Tech Are Boosting Margins Fast!

United States

Birkenstock Holding Plc operates as a holding company. The Company, through its subsidiaries, manufactures anatomically shaped footbed-based products that provides natural support and stimulation, promoting even weight distribution, fully supported arches, and no unnatural pressure points from heel to toe. Birkenstock Holding serves customers worldwide.

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Birkenstock Holding (BIRK US)

Birkenstock's Retail Breakthrough: 13 New Stores Fuel Global Expansion!

Birkenstock Holding plc reported third-quarter fiscal 2026 revenue growth of 15% in constant currency, reaching the high end of annual...

Baptista Research

Birkenstock’s Brand Powerhouse Moment Meets A 350-Basis-Point FX Drag!

The company achieved reported revenues of EUR 618 million, up 8% year-over-year, with constant currency growth reaching 14%, aligning with the...

Baptista Research

Birkenstock’s Store Expansion Strategy Signals a Bigger DTC Ambition

Birkenstock Holding plc's latest earnings report for the first quarter of fiscal 2026 presents a mixed but strategically positive picture,...

Baptista Research

Birkenstock Is Expanding Manufacturing Capacity by ~10%

Birkenstock Holding plc reported its fiscal fourth quarter and full-year 2025 earnings, showcasing remarkable performance amidst various global...

Baptista Research

Birkenstock’s Profit Engine Revealed: How New Factories & Smart Tech Are Boosting Margins Fast!

Birkenstock Holding plc's second-quarter results for fiscal year 2025 highlight a period of robust revenue growth, resilient operational...

Baptista Research

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