This page shows Beyond Meat (BYND) financial statements, including the 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
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). 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 has an operating margin of -121.1%, meaning the company retains $-121 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -47.8% the prior year.
Beyond Meat's revenue declined 15.6% year-over-year, from $326.5M to $275.5M. This contraction results in a growth score of 16/100.
Beyond Meat has elevated debt relative to equity (D/E of -416.99), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
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 91/100.
While Beyond Meat generated -$144.9M in operating cash flow, capex of $12.3M consumed most of it, leaving -$157.2M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
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 generates $-0.66 in operating cash flow (-$144.9M OCF vs $219.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Beyond Meat earns $-23.8 in operating income for every $1 of interest expense (-$333.6M vs $14.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
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.
Beyond Meat earned $-1.83 per diluted share (EPS) in fiscal year 2025. This represents an increase of 24.7% from the prior year.
Cash & Balance Sheet
Beyond Meat generated -$157.2M in free cash flow in fiscal year 2025, representing cash available 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.
Beyond Meat had 454M shares outstanding in fiscal year 2025. This represents an increase of 496.4% from the prior year.
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 operating margin was -121.1% in fiscal year 2025, reflecting core business profitability. This is down 73.3 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.
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.
BYND Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $58.2M-5.5% | $61.6M-12.3% | $70.2M-6.3% | $75.0M+9.1% | $68.7M-10.3% | $76.7M-5.4% | $81.0M-13.1% | $93.2M |
| Cost of Revenue | $56.2M-10.5% | $62.8M-0.2% | $63.0M-5.1% | $66.4M-12.3% | $75.7M+13.5% | $66.7M-0.1% | $66.7M-16.1% | $79.5M |
| Gross Profit | $2.0M+258.9% | -$1.2M-117.3% | $7.2M-15.8% | $8.6M+224.0% | -$6.9M-169.2% | $10.0M-30.1% | $14.3M+4.3% | $13.7M |
| R&D Expenses | $5.2M+3.4% | $5.0M+2.7% | $4.9M-15.3% | $5.8M-22.2% | $7.5M+11.9% | $6.7M+8.8% | $6.1M+11.8% | $5.5M |
| SG&A Expenses | $37.9M-59.2% | $92.8M+149.4% | $37.2M-1.2% | $37.7M-24.6% | $50.0M+21.5% | $41.1M+5.3% | $39.1M-7.3% | $42.2M |
| Operating Income | -$41.1M+66.3% | -$122.0M-8.6% | -$112.3M-221.8% | -$34.9M+45.8% | -$64.4M-70.2% | -$37.8M-22.3% | -$30.9M+8.9% | -$33.9M |
| Interest Expense | $6.7M+2.2% | $6.6M+49.0% | $4.4M+120.7% | $2.0M+95.5% | $1.0M-0.1% | $1.0M-0.3% | $1.0M-0.1% | $1.0M |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $6K+117.6% | -$34K |
| Net Income | -$28.5M-106.8% | $420.0M+479.5% | -$110.7M-278.5% | -$29.2M+52.1% | -$61.1M-36.1% | -$44.9M-68.9% | -$26.6M+22.9% | -$34.5M |
| EPS (Diluted) | $-0.06 | N/A | $-1.44 | $-0.38+52.5% | $-0.80 | N/A | $-0.41+22.6% | $-0.53 |
BYND Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $579.5M-5.7% | $614.7M+2.5% | $599.7M-13.3% | $691.7M+7.4% | $643.8M-5.1% | $678.1M-2.1% | $692.9M-2.6% | $711.2M |
| Current Assets | $311.0M-8.9% | $341.5M+18.3% | $288.6M-2.9% | $297.1M+15.5% | $257.3M-10.2% | $286.5M-3.7% | $297.4M-6.3% | $317.3M |
| Cash & Equivalents | $191.0M-6.3% | $203.9M+73.8% | $117.3M+13.3% | $103.5M+1.3% | $102.1M-22.6% | $131.9M+8.4% | $121.7M-16.0% | $144.9M |
| Inventory | $68.9M-18.0% | $84.0M-23.8% | $110.3M-0.5% | $110.9M+10.8% | $100.1M-11.8% | $113.4M-9.4% | $125.2M+4.7% | $119.5M |
| Accounts Receivable | $25.9M-0.5% | $26.1M-6.7% | $27.9M-25.2% | $37.3M+12.2% | $33.3M+23.8% | $26.9M-22.5% | $34.7M+0.6% | $34.5M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $600.5M-2.5% | $615.7M-55.5% | $1.4B+1.1% | $1.4B+5.2% | $1.3B+1.7% | $1.3B-2.0% | $1.3B+0.3% | $1.3B |
| Current Liabilities | $109.0M+45.5% | $74.9M+17.7% | $63.6M-29.4% | $90.2M+18.8% | $75.9M+23.5% | $61.5M-29.0% | $86.6M+3.7% | $83.5M |
| Long-Term Debt | $382.2M-8.1% | $415.7M-66.0% | $1.2B+2.7% | $1.2B+4.2% | $1.1B+0.1% | $1.1B+0.1% | $1.1B+0.1% | $1.1B |
| Total Equity | -$21.1M-2014.6% | -$997K+99.9% | -$784.1M-15.8% | -$677.0M-2.9% | -$657.7M-9.4% | -$601.2M+1.8% | -$611.9M-3.7% | -$590.0M |
| Retained Earnings | -$1.1B-2.8% | -$1.0B+28.7% | -$1.4B-8.4% | -$1.3B-2.3% | -$1.3B-4.3% | -$1.2B-3.7% | -$1.2B-2.3% | -$1.2B |
BYND Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$5.0M+89.3% | -$46.8M-20.7% | -$38.8M-16.8% | -$33.2M-27.0% | -$26.1M+9.7% | -$29.0M-31.3% | -$22.0M-37.7% | -$16.0M |
| Capital Expenditures | $2.5M-15.1% | $3.0M+2.4% | $2.9M+50.0% | $1.9M-56.8% | $4.5M-30.7% | $6.5M+220.5% | $2.0M+52.7% | $1.3M |
| Free Cash Flow | -$7.6M+84.8% | -$49.8M-19.4% | -$41.7M-18.6% | -$35.1M-14.7% | -$30.6M+13.5% | -$35.4M-47.2% | -$24.1M-38.9% | -$17.3M |
| Investing Cash Flow | -$1.8M+21.1% | -$2.3M-17.9% | -$1.9M+1.1% | -$1.9M+53.2% | -$4.1M+33.5% | -$6.2M-427.7% | -$1.2M-180.1% | $1.5M |
| Financing Cash Flow | -$4.5M-103.3% | $135.6M+150.3% | $54.2M+58.3% | $34.2M+5911.4% | -$589K-101.3% | $47.1M+20210.7% | -$234K-118.7% | -$107K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
BYND Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 3.4%+5.4pp | -2.0%-12.3pp | 10.3%-1.2pp | 11.5%+21.5pp | -10.1%-23.1pp | 13.1%-4.6pp | 17.7%+2.9pp | 14.7% |
| Operating Margin | -70.6%+127.5pp | -198.1%-38.1pp | -160.0%-113.4pp | -46.6%+47.1pp | -93.7%-44.3pp | -49.3%-11.2pp | -38.2%-1.8pp | -36.4% |
| Net Margin | -48.9%-730.9pp | 682.0%+839.6pp | -157.6%-118.6pp | -39.0%+49.9pp | -88.9%-30.3pp | -58.6%-25.7pp | -32.8%+4.2pp | -37.0% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -4.9%-73.2pp | 68.3%+86.8pp | -18.5%-14.2pp | -4.2%+5.3pp | -9.5%-2.9pp | -6.6%-2.8pp | -3.8%+1.0pp | -4.9% |
| Current Ratio | 2.85-1.7 | 4.56+0.0 | 4.54+1.2 | 3.29-0.1 | 3.39-1.3 | 4.66+1.2 | 3.43-0.4 | 3.80 |
| Debt-to-Equity | -18.13+398.9 | -416.99-415.4 | -1.56+0.2 | -1.76-0.0 | -1.74+0.2 | -1.90-0.0 | -1.86+0.1 | -1.93 |
| FCF Margin | -13.0%+67.8pp | -80.8%-21.4pp | -59.4%-12.5pp | -46.9%-2.3pp | -44.6%+1.6pp | -46.2%-16.5pp | -29.7%-11.1pp | -18.6% |
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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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 operating margin?
Beyond Meat (BYND) had an operating margin of -121.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
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) generated -$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) generated -$144.9M in operating cash flow during fiscal year 2025, representing cash generated from 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 debt-to-equity ratio?
Beyond Meat (BYND) had a debt-to-equity ratio of -416.99 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
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 unusual?
Beyond Meat (BYND) has negative shareholder equity of -$997K as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. 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 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?
Beyond Meat (BYND) has an earnings quality ratio of -0.66x, considered low quality (accrual-driven). 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) has an interest coverage ratio of -23.8x, meaning it can struggle to cover its interest obligations. 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 18 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.