Beyond Meat Financials
Beyond Meat (BYND) reported $275.5M in revenue for fiscal year 2025, down 15.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
FY2025 profit was accounting-deep, not operating-deep: core sales still produced too little gross margin to cover the cost base.
FY2025 reported$219M of net income even as operating cash flow stayed at-$144.9M , so the year's profit was not converting into cash. Set beside a-$333.6M operating loss, that gap says the bottom-line profit came from below the operating line rather than from the core selling engine, which still failed to cover its cost base.
Gross margin rebounded from
Long-term debt fell to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Beyond Meat's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Beyond Meat's reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 24/100.
Beyond Meat's revenue declined 15.6% year-over-year, from $326.5M to $275.5M. This contraction results in a growth score of 11/100.
With a current ratio of 4.56, Beyond Meat holds $4.56 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 88/100.
Beyond Meat's operations used $144.9M of cash, and capex of $12.3M added to the outflow, for a free cash flow shortfall of $157.2M. This results in a cash flow score of 9/100.
Beyond Meat scores -2.90, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($254.0M) relative to total liabilities ($615.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Beyond Meat passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Beyond Meat used $0.66 of operating cash (-$144.9M OCF vs $219.0M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Beyond Meat reported an operating loss of $333.6M against $14.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Beyond Meat generated $275.5M in revenue in fiscal year 2025. This represents a decrease of 15.6% from the prior year.
Beyond Meat's EBITDA was -$300.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 126.2% from the prior year.
Beyond Meat reported $219.0M in net income in fiscal year 2025. This represents an increase of 236.6% from the prior year.
Cash & Balance Sheet
Beyond Meat recorded an outflow of $157.2M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 43.2% from the prior year.
Beyond Meat held $203.9M in cash against $415.7M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Beyond Meat's gross margin was 2.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 10.0 percentage points from the prior year.
Beyond Meat's net profit margin was 79.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 128.6 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for fiscal year 2025.
Capital Allocation
Beyond Meat invested $23.2M in research and development in fiscal year 2025. This represents a decrease of 17.5% from the prior year.
Beyond Meat invested $12.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 11.7% from the prior year.
Not reported for fiscal year 2025.
BYND Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $258.8M | $275.5M-15.6% | $326.5M-4.9% | $343.4M-18.0% | $418.9M-9.8% | $464.7M+14.2% | $406.8M+36.6% | $297.9M+238.8% | $87.9M+169.9% | $32.6M |
| Cost of Revenue | $244.3M | $267.9M-5.9% | $284.8M-33.2% | $426.0M-3.8% | $442.7M+27.4% | $347.4M+22.1% | $284.5M+43.6% | $198.1M+181.6% | $70.4M+102.3% | $34.8M |
| Gross Profit | $14.5M | $7.6M-81.7% | $41.7M+150.4% | -$82.7M-248.1% | -$23.7M-120.2% | $117.3M-4.1% | $122.3M+22.6% | $99.8M+467.6% | $17.6M+902.1% | -$2.2M |
| R&D Expenses | $19.4M | $23.2M-17.5% | $28.1M-28.8% | $39.5M-36.5% | $62.3M-7.0% | $66.9M+112.3% | $31.5M+52.7% | $20.6M+115.4% | $9.6M+67.5% | $5.7M |
| SG&A Expenses | $198.5M | $217.8M+28.3% | $169.7M-16.7% | $203.7M-14.9% | $239.5M+14.3% | $209.5M+56.7% | $133.7M+78.9% | $74.7M+116.8% | $34.5M+101.0% | $17.1M |
| Operating Income | -$303.6M | -$333.6M-113.7% | -$156.1M+54.3% | -$341.9M+0.3% | -$342.8M-95.9% | -$174.9M-254.5% | -$49.3M-9991.0% | -$489K+98.3% | -$28.0M+2.0% | -$28.6M |
| Interest Expense | $24.3M | $14.0M+242.4% | $4.1M+3.6% | $4.0M-0.3% | $4.0M+8.7% | $3.6M+41.6% | $2.6M-16.1% | $3.1M+172.3% | $1.1M+12.6% | $1.0M |
| Income Tax | $0 | $0+100.0% | -$26K-620.0% | $5K-84.4% | $32K-46.7% | $60K-16.7% | $72K+700.0% | $9K+800.0% | $1K-80.0% | $5K |
| Net Income | $299.9M | $219.0M+236.6% | -$160.3M+52.6% | -$338.1M+7.6% | -$366.1M-101.0% | -$182.1M-245.2% | -$52.8M-323.9% | -$12.4M+58.4% | -$29.9M+1.6% | -$30.4M |
| EPS (Diluted) | — | -$1.83 | -$2.43+53.8% | -$5.26+8.5% | -$5.75-99.7% | -$2.88-238.8% | -$0.85-193.1% | -$0.29 | N/A | N/A |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
BYND Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $614.7M-9.3% | $678.1M-12.4% | $774.5M-27.1% | $1.1B-23.0% | $1.4B+194.7% | $468.0M+3.6% | $451.9M+237.9% | $133.7M | N/A |
| Current Assets | $341.5M+19.2% | $286.5M-23.2% | $372.8M-38.5% | $606.5M-42.4% | $1.1B+216.7% | $332.2M-17.7% | $403.6M+292.5% | $102.8M | N/A |
| Cash & Equivalents | $203.9M+54.6% | $131.9M-30.8% | $190.5M-38.5% | $309.9M-57.7% | $733.3M+360.8% | $159.1M-42.3% | $276.0M+408.5% | $54.3M+39.0% | $39.0M |
| Inventory | $84.0M-25.9% | $113.4M-13.0% | $130.3M-44.7% | $235.7M-2.6% | $241.9M+98.7% | $121.7M+49.2% | $81.6M+169.7% | $30.3M | N/A |
| Accounts Receivable | $26.1M-3.0% | $26.9M-15.3% | $31.7M-7.2% | $34.2M-21.9% | $43.8M+21.8% | $36.0M-10.2% | $40.1M+217.4% | $12.6M | N/A |
| Total Liabilities | $615.7M-51.9% | $1.3B-0.7% | $1.3B+1.7% | $1.3B+1.5% | $1.2B+1135.7% | $100.9M+48.8% | $67.8M-73.5% | $255.5M | N/A |
| Current Liabilities | $74.9M+21.9% | $61.5M-17.4% | $74.4M-2.0% | $75.8M-19.5% | $94.2M+5.9% | $89.0M+86.5% | $47.7M+89.5% | $25.2M | N/A |
| Long-Term Debt | $415.7M-63.6% | $1.1B+0.3% | $1.1B+0.3% | $1.1B+0.3% | $1.1B | N/A | $19.6M-35.6% | $30.4M | N/A |
| Total Equity | -$997K+99.8% | -$601.2M-17.1% | -$513.4M-152.2% | -$203.5M-253.6% | $132.5M-63.9% | $367.1M-4.4% | $384.1M+415.5% | -$121.8M-26.9% | -$95.9M |
| Retained Earnings | -$1.0B+17.6% | -$1.2B-14.8% | -$1.1B-45.5% | -$743.1M-97.1% | -$377.0M-93.5% | -$194.9M-37.1% | -$142.1M-9.6% | -$129.7M | N/A |
Not reported in any period shown, so not listed: Goodwill.
BYND Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$110.1M | -$144.9M-46.7% | -$98.8M+8.4% | -$107.8M+66.3% | -$320.2M-6.3% | -$301.4M-653.5% | -$40.0M+14.9% | -$47.0M-24.6% | -$37.7M-49.3% | -$25.3M |
| Capital Expenditures | $9.9M | $12.3M+11.7% | $11.0M+4.3% | $10.6M-85.0% | $70.5M-48.2% | $136.0M+135.7% | $57.7M+142.5% | $23.8M+7.0% | $22.2M+181.1% | $7.9M |
| Free Cash Flow | -$120.0M | -$157.2M-43.2% | -$109.8M+7.2% | -$118.4M+69.7% | -$390.7M+10.7% | -$437.3M-347.7% | -$97.7M-38.0% | -$70.8M-18.1% | -$59.9M-80.7% | -$33.2M |
| Investing Cash Flow | -$6.5M | -$10.3M-64.5% | -$6.2M+34.3% | -$9.5M+89.2% | -$87.5M+40.7% | -$147.5M-96.9% | -$74.9M-186.3% | -$26.2M-12.6% | -$23.2M-186.4% | -$8.1M |
| Financing Cash Flow | $184.5M | $223.4M+388.0% | $45.8M+8423.1% | -$550K-299.3% | $276K-100.0% | $1.0B+58120.5% | -$1.8M-100.6% | $294.9M+287.0% | $76.2M+37.5% | $55.4M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0-100.0% | $514K | $0 |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
BYND Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 2.8%-10.0pp | 12.8%+36.8pp | -24.1%-18.4pp | -5.7%-30.9pp | 25.2%-4.8pp | 30.1%-3.4pp | 33.5%+13.5pp | 20.0%+26.7pp | -6.7% |
| Operating Margin | -121.1% | -47.8%+51.8pp | -99.6%-17.8pp | -81.8%-44.2pp | -37.6%-25.5pp | -12.1%-12.0pp | -0.2%+31.7pp | -31.8%+55.8pp | -87.7% |
| Net Margin | 79.5%+128.6pp | -49.1%+49.4pp | -98.5%-11.1pp | -87.4%-48.2pp | -39.2%-26.2pp | -13.0%-8.8pp | -4.2%+29.8pp | -34.0%+59.3pp | -93.3% |
| Return on Equity | N/A | N/A | N/A | N/A | -137.4%-123.1pp | -14.4%-11.1pp | -3.2% | N/A | N/A |
| Return on Assets | 35.6%+59.3pp | -23.6%+20.0pp | -43.7%-9.2pp | -34.5%-21.3pp | -13.2%-1.9pp | -11.3%-8.5pp | -2.8%+19.6pp | -22.3% | N/A |
| Current Ratio | 4.56-0.1x | 4.66-0.4x | 5.01-3.0x | 8.00-3.2x | 11.17+7.4x | 3.73-4.7x | 8.46+4.4x | 4.09 | N/A |
| Debt-to-Equity | N/A | N/A | N/A | N/A | 8.53+8.3x | 0.27+0.2x | 0.05 | N/A | N/A |
| FCF Margin | -57.1%-23.4pp | -33.6%+0.8pp | -34.5%+58.8pp | -93.3%+0.8pp | -94.1%-70.1pp | -24.0%-0.3pp | -23.8%+44.4pp | -68.2% | -101.8% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, FCF Margin.
Note: Shareholder equity is negative (-$997K), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Where Beyond Meat Ranks
Frequently Asked Questions
What is Beyond Meat's annual revenue?
Beyond Meat (BYND) reported $275.5M in total revenue for fiscal year 2025. This represents a -15.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Beyond Meat's revenue growing?
Beyond Meat (BYND) revenue declined by 15.6% year-over-year, from $326.5M to $275.5M in fiscal year 2025.
Is Beyond Meat profitable?
Yes, Beyond Meat (BYND) reported a net income of $219.0M in fiscal year 2025, with a net profit margin of 79.5%.
What is Beyond Meat's EBITDA?
Beyond Meat (BYND) had EBITDA of -$300.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Beyond Meat have?
As of fiscal year 2025, Beyond Meat (BYND) had $203.9M in cash and equivalents against $415.7M in long-term debt.
What is Beyond Meat's gross margin?
Beyond Meat (BYND) had a gross margin of 2.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Beyond Meat's net profit margin?
Beyond Meat (BYND) had a net profit margin of 79.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Beyond Meat's free cash flow?
Beyond Meat (BYND) recorded an outflow of $157.2M in free cash flow during fiscal year 2025. This represents a -43.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Beyond Meat's operating cash flow?
Beyond Meat (BYND) recorded an outflow of $144.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Beyond Meat's total assets?
Beyond Meat (BYND) had $614.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Beyond Meat's capital expenditures?
Beyond Meat (BYND) invested $12.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Beyond Meat spend on research and development?
Beyond Meat (BYND) invested $23.2M in research and development during fiscal year 2025.
What is Beyond Meat's current ratio?
Beyond Meat (BYND) had a current ratio of 4.56 as of fiscal year 2025, which is generally considered healthy.
What is Beyond Meat's return on assets (ROA)?
Beyond Meat (BYND) had a return on assets of 35.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Beyond Meat's cash runway?
Based on fiscal year 2025 data, Beyond Meat (BYND) had $203.9M in cash against an annual operating cash burn of $144.9M. This gives an estimated cash runway of approximately 17 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Beyond Meat's debt-to-equity ratio negative or not reported?
Beyond Meat (BYND) has negative shareholder equity of -$997K as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Beyond Meat's Altman Z-Score?
Beyond Meat (BYND) has an Altman Z-Score of -2.90, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Beyond Meat's Piotroski F-Score?
Beyond Meat (BYND) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Beyond Meat's earnings high quality?
For every $1 of reported earnings, Beyond Meat (BYND) used $0.66 of operating cash (-$144.9M OCF vs $219.0M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Beyond Meat cover its interest payments?
Beyond Meat (BYND) reported an operating loss of $333.6M against $14.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Beyond Meat?
Beyond Meat (BYND) scores 27 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.