Latest Ratios: P/E Ratio -0.4x · EV/EBITDA N/A · ROE N/A. (2016–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $329M | $149M | $248M | $572M | $783M | $4.1B | $7.8B | $3.2B | — | — | — |
| Enterprise Value | $629M | $448M | $1.3B | $1.6B | $1.7B | $4.5B | $7.7B | $3.0B | — | — | — |
| P/E Ratio → | -0.39 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.20 | 0.54 | 0.76 | 1.67 | 1.87 | 8.86 | 19.14 | 10.73 | — | — | — |
| P/B Ratio | — | — | — | — | — | 31.07 | 21.21 | 8.32 | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.63 | 4.10 | 4.66 | 3.98 | 9.77 | 18.85 | 9.91 | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | 387.45 | — | — | — |
| EV / EBIT | — | 1.92 | — | — | — | — | — | 673.79 | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 2.8% | 2.8% | 12.8% | -3.3% | -5.7% | 25.2% | 30.1% | 33.5% | 20.0% | -6.7% | -39.0% |
| Operating Margin | -84.7% | -84.7% | -47.8% | -99.6% | -81.8% | -37.6% | -12.1% | -0.2% | -31.8% | -87.7% | -153.0% |
| Net Profit Margin | 79.8% | 79.8% | -49.1% | -98.5% | -87.4% | -39.2% | -13.0% | -4.2% | -34.0% | -93.3% | -155.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | -72.9% | -14.0% | -5.4% | -37.9% | — | — |
| ROA | 34.0% | 34.0% | -22.1% | -36.8% | -30.0% | -19.7% | -11.5% | -4.2% | -29.9% | -59.9% | -72.0% |
| ROIC | -44.4% | -44.4% | -23.4% | -43.0% | -41.6% | -32.6% | -19.1% | -0.4% | -37.8% | — | — |
| ROCE | -40.3% | -40.3% | -23.7% | -40.5% | -30.2% | -21.0% | -12.6% | -0.2% | -34.1% | -67.9% | -83.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | 8.74 | 0.11 | 0.08 | 0.39 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | 4.10 | — | — | — |
| Net Debt / Equity | — | — | — | — | — | 3.20 | -0.32 | -0.64 | -0.30 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | -32.14 | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | 16.62 | 16.62 | -36.28 | -64.13 | -82.08 | -43.62 | -16.66 | 1.43 | -25.49 | -29.32 | -65.17 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.57 | 4.57 | 4.66 | 5.01 | 8.00 | 11.17 | 3.73 | 8.46 | 4.28 | 4.28 | 4.77 |
| Quick Ratio | 3.45 | 3.45 | 2.82 | 3.26 | 4.89 | 8.60 | 2.37 | 6.75 | 3.02 | 3.61 | 3.57 |
| Cash Ratio | 2.78 | 2.78 | 2.15 | 2.56 | 4.09 | 7.79 | 1.79 | 5.79 | 2.26 | 3.21 | 3.31 |
| Asset Turnover | — | 0.45 | 0.48 | 0.44 | 0.39 | 0.34 | 0.87 | 0.66 | 0.66 | 0.49 | 0.46 |
| Inventory Turnover | 3.19 | 3.19 | 2.51 | 2.72 | 1.88 | 1.44 | 2.34 | 2.43 | 2.33 | 4.27 | 3.64 |
| Days Sales Outstanding | — | 34.53 | 30.03 | 33.73 | 29.80 | 34.41 | 32.28 | 49.11 | 52.41 | 40.12 | 19.83 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $181M | $66M | $64M | $64M | $63M | $62M | $42M | $46M | $46M | $46M |
Insolvency and capital erosion
According to recent market data, Beyond Meat trades at a price-to-sales ratio of 1.11, a valuation level that suggests investors have largely abandoned the high-growth narrative in favor of pricing the company as a distressed asset with significant long-term operational uncertainty and limited upside potential.
The absence of meaningful P/E or EV/EBITDA multiples reflects the company's inability to generate positive earnings or sustainable cash flow. This valuation compression indicates that the market is no longer pricing in a recovery of the growth trajectory, but rather focusing on the liquidation value of the remaining asset base.
Based on reported financial figures, the company's ROIC has remained consistently negative, bottoming out at -22.5% in 2025Q4, which highlights a structural failure to generate returns on invested capital that exceed the cost of funding the business's ongoing operational and manufacturing expansion efforts.
The persistent negative ROIC trend suggests that every dollar of capital deployed into production capacity has historically destroyed shareholder value rather than creating it. This decay is driven by the combination of contracting margins and an inability to achieve the scale necessary to offset high fixed costs.
As reported in quarterly filings, the company's cash conversion cycle remains elevated at 124 days, a figure that reflects significant inefficiencies in inventory management and a struggle to optimize the timing between raw material procurement and the eventual sale of finished goods to retail partners.
The high days inventory outstanding, which reached 173 days in 2023Q4, suggests that the company is carrying excessive stock that may be subject to obsolescence or write-downs. This inefficiency ties up critical liquidity and forces the company to rely on external financing to bridge the gap in its operating cycle.
According to recent balance sheet data, the company's current ratio of 2.85 provides a superficial appearance of liquidity, yet this is heavily skewed by inventory levels that may not be easily liquidated at book value given the current demand environment for plant-based meat products.
While the quick ratio of 2.22 suggests an ability to cover short-term obligations, the persistent cash burn rate indicates that this liquidity buffer is being consumed at an unsustainable pace. Investors should monitor the company's ability to maintain these ratios without resorting to further dilutive capital raises.
Based on an analysis of the business model, the most commonly misapplied metric is the price-to-sales ratio, which obscures the company's inability to convert top-line revenue into gross profit, thereby failing to account for the high variable costs inherent in the current manufacturing and distribution structure.
Using revenue multiples for a company with a 2.78% gross margin is fundamentally flawed because it ignores the fact that incremental sales may actually be value-destructive. A more appropriate focus would be on contribution margin per unit or cash-burn-adjusted enterprise value to better reflect the company's true economic viability.
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Beyond Meat, Inc.'s current P/E ratio is -0.4x. This places it at the 50th percentile of its historical range.
Based on historical data, Beyond Meat, Inc. is trading at a P/E of -0.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Beyond Meat, Inc. has 2.8% gross margin and -84.7% operating margin.