Birkenstock Holding plc vs STEVEN MADDEN, LTD., two Luxury Goods stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Two footwear makers priced worlds apart, Birkenstock at 20.18 times earnings against Steven Madden's 40.77, the premium sandal brand trading at half the multiple of the fashion-footwear house. Birkenstock earns 13.66% on equity to Steven Madden's 8.49%, and keeps 17.72% of revenue where Madden holds just 3.05%. Birkenstock runs debt-free against Madden's 0.3 turns, and yields more free cash, 3.56% against 2.8%. Steven Madden pays a 1.94% dividend and trades at 3.28 times book against Birkenstock's 2.72. The higher-margin sandal maker earns the richer return yet carries the cheaper earnings multiple, an odd inversion the market has set.
Comparison updated 2026-07-11.
| Metric | BIRK | SHOO |
|---|---|---|
| Price | $45.50 | $42.01 |
| Market cap | $8.4B | $3.0B |
| Sector | Luxury Goods | Luxury Goods |
| Stage | Mature | Growth |
| Implied growth (priced in) | +17.3% | +3.4% |
| P/E | 20.6 | 39.6 |
| P/B | 2.78 | 3.19 |
| P/S | 3.60 | 1.15 |
| EV/EBITDA | 11.0 | 20.2 |
| Revenue growth | +14.6% | +15.3% |
| Gross margin | 55.7% | 54.7% |
| Operating margin | 19.5% | 15.1% |
| Net margin | 17.7% | 3.0% |
| Return on equity | 13.7% | 8.5% |
| Return on assets | 7.7% | 4.1% |
| Return on invested capital | 14.9% | 7.7% |
| FCF yield | 3.5% | 2.9% |
| Dividend yield | — | 2.0% |
| Debt / equity | 0.00 | 0.30 |
| Current ratio | 3.13 | 2.23 |
| Altman Z (solvency) | 3.04 | 4.98 |
| Piotroski F (quality) | 4 / 9 | 4 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.