Birkenstock Holding plc (BIRK)vsOn Holding Ltd (ONON)
BIRK
Birkenstock Holding plc
$36.37
-0.30%
CONSUMER CYCLICAL · Cap: $6.71B
ONON
On Holding Ltd
$35.16
-11.19%
CONSUMER CYCLICAL · Cap: $13.10B
Smart Verdict
WallStSmart Research — data-driven comparison
On Holding Ltd generates 41% more annual revenue ($3.01B vs $2.14B). BIRK leads profitability with a 17.7% profit margin vs 6.8%. ONON appears more attractively valued with a PEG of 0.88. BIRK earns a higher WallStSmart Score of 71/100 (B).
BIRK
Strong Buy71
out of 100
Grade: B
ONON
Buy53
out of 100
Grade: C-
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
+63.6%
Fair Value
$109.98
Current Price
$36.37
$73.61 discount
Margin of Safety
-754.5%
Fair Value
$5.30
Current Price
$35.16
$29.86 premium
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Attractively priced relative to earnings
Reasonable price relative to book value
Safe zone — low bankruptcy risk
Growing faster than its price suggests
Revenue surging 22.6% year-over-year
Areas to Watch
1.5% earnings growth
Grey zone — moderate risk
Negative free cash flow — burning cash
6.8% margin — thin
Weak financial health signals
Premium valuation, high expectations priced in
Earnings declined 24.0%
Comparative Analysis Report
WallStSmart ResearchBull Case : BIRK
The strongest argument for BIRK centers on P/E Ratio, Price/Book. Profitability is solid with margins at 17.7% and operating margin at 19.0%. Revenue growth of 11.1% demonstrates continued momentum.
Bull Case : ONON
The strongest argument for ONON centers on Altman Z-Score, PEG Ratio, Revenue Growth. Revenue growth of 22.6% demonstrates continued momentum. PEG of 0.88 suggests the stock is reasonably priced for its growth.
Bear Case : BIRK
The primary concerns for BIRK are EPS Growth, Altman Z-Score, Free Cash Flow.
Bear Case : ONON
The primary concerns for ONON are Profit Margin, Piotroski F-Score, P/E Ratio. A P/E of 50.8x leaves little room for execution misses.
Key Dynamics to Monitor
BIRK profiles as a mature stock while ONON is a growth play — different risk/reward profiles.
ONON carries more volatility with a beta of 2.15 — expect wider price swings.
ONON is growing revenue faster at 22.6% — sustainability is the question.
ONON generates stronger free cash flow (80M), providing more financial flexibility.
Bottom Line
BIRK scores higher overall (71/100 vs 53/100), backed by strong 17.7% margins and 11.1% revenue growth. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.
This analysis is generated from publicly available financial data. Not financial advice.
Birkenstock Holding plc
CONSUMER CYCLICAL · FOOTWEAR & ACCESSORIES · USA
Birkenstock Holding plc manufactures and sells footwear products. The company is headquartered in London, the United Kingdom.
On Holding Ltd
CONSUMER CYCLICAL · FOOTWEAR & ACCESSORIES · USA
On Holding AG develops and distributes sports products worldwide. The company is headquartered in Zurich, Switzerland.
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