The sandal maker enjoyed a 20% compound annual growth rate in revenue between 2014 and 2022, with the last two years seeing its revenue spike 32% and 29%, respectively. Birkenstock ended 2022 with €1.24 billion (US$1.32 billion) in revenue, and this year through three quarters, revenue was up 21% over the first nine months of 2022.
The company was valued at $8.64 billion and offered at $46 per share in its IPO Tuesday. That fell within its expected range of $44 to $49 per share.
The stock began trading on the New York Stock Exchange on Wednesday at $41 and ended the day at $40.20. Overall, the stock was down about 12.6% in the first full day of trading from the IPO price, and as of 3 p.m. Eastern on Thursday, it had fallen another 6% to $37.78. Investors apparently found the offering price too expensive, given the economic backdrop of high inflation and an uncertain economy.
逐句文法分析
1. The sandal maker enjoyed a 20% compound annual growth rate in revenue between 2014 and 2022, with the last two years seeing its revenue spike 32% and 29%, respectively.
The sandal maker
sandal maker = 涼鞋製造商。
這裡的 maker 表示「製造商」。
enjoyed a 20% compound annual growth rate
compound annual growth rate = 複合年成長率，通常簡稱為 CAGR。
growth rate = 成長率。
這裡的 enjoyed 並不是一般的「享受」，而是表示「取得、享有某種良好結果」。
between 2014 and 2022
between A and B = 在 A 與 B 之間。
這裡表示「2014 年至 2022 年期間」。
with the last two years seeing its revenue spike 32% and 29%, respectively
這裡使用 with + 名詞 + V-ing 的結構。
可以理解為「而在最後兩年，營收出現……」。
這裡的 seeing 並不是「看見」，而是表示「經歷、出現」。
revenue spike 32% and 29%
spike 作為動詞時，表示「急升、暴增」。
revenue spiked 32% = 營收暴增 32%。
常見近義表達：
- surge
- jump
- soar
- rise sharply
- increase significantly
respectively
respectively = 分別地。
前面有兩個數字「32% and 29%」，因此 respectively 表示按照前面的順序分別對應。
2. Birkenstock ended 2022 with €1.24 billion (US$1.32 billion) in revenue, and this year through three quarters, revenue was up 21% over the first nine months of 2022.
ended 2022 with
end + 時間 + with + 數字 是財經文章常見的結構。
this year through three quarters
through three quarters = 截至前三季。
這裡的 through 有「截至某個時間點」的意思。
revenue was up 21%
be up + 百分比 = 上升某個百分比。
也可以使用：
- revenue increased 21%
- revenue rose 21%
- revenue grew 21%
over the first nine months of 2022
這裡的 over 可以理解為「相較於」或「在……期間」。
revenue was up 21% over the first nine months of 2022 = 營收較 2022 年前九個月增加 21%。
3. The company was valued at $8.64 billion and offered at $46 per share in its IPO Tuesday.
was valued at
be valued at + 金額 = 估值為……
相關表達包括：
- be worth
- have a valuation of
- be valued at
offered at $46 per share
be offered at + 價格 = 以某個價格發售。
offered at $46 per share = 以每股 46 美元的價格發售。
在 IPO 語境中，這裡指的是 IPO 的發行價格。
4. That fell within its expected range of $44 to $49 per share.
fell within
fall within + 範圍 = 落在……範圍內。
相關表達：
- be within
- come within
- fall inside
expected range
expected range = 預期範圍。
5. The stock began trading on the New York Stock Exchange on Wednesday at $41 and ended the day at $40.20.
began trading
begin trading = 開始交易。
ended the day at $40.20
end the day at + 價格 = 收於某個價格。
也可以說：
6. Overall, the stock was down about 12.6% in the first full day of trading from the IPO price, and as of 3 p.m. Eastern on Thursday, it had fallen another 6% to $37.78.
Overall
overall = 整體而言、總體來說。
這是財經分析文章中非常常見的轉折詞。
was down about 12.6%
be down + 百分比 = 下跌某個百分比。
the first full day of trading
full day of trading = 完整交易日。
the first full day of trading = 第一個完整交易日。
as of
as of + 時間 = 截至……
had fallen another 6%
another + 數字 在這裡表示「另外、再」。
fell another 6% = 又下跌了 6%。
to $37.78
fall … to + 價格 = 下跌至某個價格。
7. Investors apparently found the offering price too expensive, given the economic backdrop of high inflation and an uncertain economy.
apparently
apparently = 顯然、看來、似乎。
這裡作者並不是百分之百確認投資人的想法，因此使用 apparently 表示「看來」。
found the offering price too expensive
這裡使用非常重要的文法結構：
表示「認為某個東西是……」。
本句：
= 認為發行價太貴。
offering price
offering price = 發行價。
IPO 語境中也常見：
- IPO price
- offering price
- issue price
given
這裡的 given 不是「給予」。
given + 名詞 = 考慮到、鑒於。
economic backdrop
economic backdrop = 經濟背景、經濟環境。
backdrop 原本是「背景」，在財經文章中常用來表示影響市場或公司的大環境。
high inflation
high inflation = 高通膨。
an uncertain economy
an uncertain economy = 不確定的經濟環境。
相關表達：
- uncertain economic environment
- economic uncertainty
- uncertain economic conditions
重要片語
1. Compound Annual Growth Rate
compound annual growth rate = 複合年成長率，簡稱 CAGR。
2. Spike
spike = 急升、暴增。
3. Fall Within
fall within = 落在……範圍內。
4. Begin Trading
begin trading = 開始交易。
5. As Of
as of = 截至……
6. Economic Backdrop
economic backdrop = 經濟背景、經濟環境。
7. Given
given + 名詞 = 考慮到、鑒於。
重要單字
- sandal：涼鞋
- maker：製造商
- compound：複合的
- annual：年度的
- growth rate：成長率
- revenue：營收
- spike：急升；暴增
- respectively：分別地
- value：估值；價值
- offer：發售
- share：股票；股份
- range：範圍
- trade：交易
- overall：整體而言
- apparently：顯然；看來
- offering：發行
- backdrop：背景；環境
- inflation：通膨
- uncertain：不確定的
同義詞與相關表達
spike
- surge
- jump
- soar
- rise sharply
- increase significantly
be up
- increase
- rise
- grow
- gain
be down
- decline
- fall
- decrease
- drop
be valued at
- be worth
- have a valuation of
fall within
- be within
- come within
- fall inside
economic backdrop
- economic environment
- economic conditions
- broader economic environment
uncertain economy
- uncertain economic environment
- economic uncertainty
- uncertain economic conditions
