Birkenstock vs Rocky Brands
Birkenstock reported revenue of €2.1 billion in fiscal 2025, and Rocky Brands $482 million in fiscal 2025, in different currencies. Birkenstock's revenue grew 16.2% in its latest year, and Rocky Brands' grew 6.2%. Birkenstock had an operating margin of 26.2%, against 7.7% at Rocky Brands. Free cash flow was €308 million at Birkenstock and $10 million at Rocky Brands. Their fiscal years end in different months (September 30 and December 31), so the periods don't line up exactly.
Side by side
| Birkenstock | Rocky Brands | |
|---|---|---|
| Latest fiscal year | FY2025, Sep 30, 2025 | FY2025, Dec 31, 2025 |
| Revenue | €2.1B | $482M |
| Revenue growth | 16.2% | 6.2% |
| Revenue growth a year, last 5 years | — | 11.7% |
| Gross margin | 59.1% | 40.9% |
| Operating margin | 26.2% | 7.7% |
| Net margin | 16.6% | 4.6% |
| Free cash flow | €308M | $10M |
| Free cash flow margin | 14.7% | 2.0% |
| Return on capital | 11.6% | 8.4% |
| Net debt to EBITDA | 1.2x | 2.5x |
| Dividends and buybacks | €0M | $5M |
| Change in diluted share count | −0.6% | 0.7% |
| Last close | $37.32 | $51.34 |
| P/E at the last close | — | 11.3× |
| Insider trades, last 12 months | sold $1.1 billion | — |
| Piotroski F-score | 9 of 9 | 7 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
In each company's own currency, fiscal years
BirkenstockRocky Brands
Operating margin
Percent of revenue
BirkenstockRocky Brands
Free cash flow
In each company's own currency. Cash from operations minus capital expenditure.
BirkenstockRocky Brands
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Birkenstock and Rocky Brands pages.