Beyond Meat, Inc. key statistics and ratios

In fiscal 2025, Beyond Meat, Inc. had an operating margin of -121.1% and a current ratio of 4.56. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Beyond Meat, Inc.: financial ratios, annual
Fiscal year	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Gross margin	−6.7%	20.0%	33.5%	30.1%	25.2%	−5.7%	−24.1%	12.8%	2.8%	3.1%
Operating margin	−87.7%	−31.8%	−0.2%	−12.1%	−37.6%	−81.8%	−99.6%	−47.8%	−121.1%	−121.5%
Net margin	−93.3%	−34.0%	−4.2%	−13.0%	−39.2%	−87.4%	−98.5%	−49.1%	79.5%	111.7%
Free-cash-flow margin	−101.8%	−68.2%	−23.8%	−24.0%	−94.1%	−93.3%	−34.5%	−33.6%	−57.1%	−46.4%
Return on equity	—	—	−9.5%	−14.0%	−72.9%	—	—	—	—	—
Return on assets	—	−22.3%	−4.2%	−11.5%	−19.7%	−30.0%	−36.8%	−22.1%	33.9%	49.2%
Asset turnover	—	0.66	1.02	0.88	0.50	0.34	0.37	0.45	0.43	0.44
Current ratio	—	4.09	8.46	3.73	11.17	8.00	5.01	4.66	4.56	2.63
Debt to equity	—	—	8.0%	13.6%	852.6%	—	—	—	—	570.5%
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m
Effective tax rate	—	—	—	—	—	—	—	—	0.0%	0.0%
R&D as % of revenue	17.6%	10.9%	6.9%	7.8%	14.4%	14.9%	11.5%	8.6%	8.4%	7.5%
SG&A as % of revenue	52.6%	39.2%	25.1%	32.9%	45.1%	57.2%	59.3%	52.0%	79.0%	78.3%
Capital spending as % of revenue	24.3%	25.3%	8.0%	14.2%	29.3%	16.8%	3.1%	3.4%	4.5%	3.8%
Free cash flow ÷ net income	—	—	—	—	—	—	—	—	−71.8%	−41.5%

US$ thousands unless shown otherwise. Fiscal quarters.

Beyond Meat, Inc.: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Gross margin	17.7%	13.1%	−10.1%	10.6%	10.3%	−11.5%	3.4%	8.5%
Operating margin	−38.2%	−49.3%	−93.7%	−50.0%	−160.0%	−211.4%	−70.6%	−44.8%
Net margin	−32.8%	−58.5%	−88.9%	−42.5%	−157.6%	668.7%	−48.9%	23.8%
Free-cash-flow margin	−29.7%	−46.2%	−44.6%	−45.0%	−61.3%	−80.8%	−13.0%	−28.5%
Current ratio	3.43	4.66	3.39	3.29	4.54	4.56	2.85	2.63
Debt to equity	—	—	—	—	—	—	—	570.5%
R&D as % of revenue	7.6%	8.7%	10.9%	7.7%	7.0%	8.2%	9.0%	6.1%
SG&A as % of revenue	48.2%	53.7%	72.7%	52.9%	53.0%	154.5%	65.1%	47.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 6 checks passed · June 27, 2026

What it owns · $560m

Short-term assets $296mLonger-term assets $264m

What it owes, and who funded it · $169m

Short-term liabilities $112mShareholders' equity $57m

Short-term assets cover short-term liabilities $296m of assets due within a year against $112m of liabilities due within a year.
Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
More cash than debt $171m of cash against $324m of debt.
Debt below 40% of shareholders' equity Debt is 570% of equity.
Debt burden no higher than five years ago Debt to equity moved from 853% to 570% over five years.
A year's operating cash flow covers at least 20% of debt −$110m of operating cash flow against $324m of debt.
Operating profit covers interest at least five times over Operating income of −$314m against $24m of interest.

From Beyond Meat, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

13 /100

Weak moat

How hard Beyond Meat's competitive advantage looks for rivals to wear away, judged from 8 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 0 / 20

Cash operating profit has been a median -17.8% of total assets over 7 years.
Pricing power 0 / 20

Gross margin has been a median 7.6%, moving by 18.0 percentage points (standard deviation) across 8 years.
Durability 10 / 20

Operating margin has been a median -62.7%; its worst year was -121.5%.
Cash conversion 0 / 20

Free cash flow was positive in 0 of 8 years, at a median -42.5% of revenue.
Discipline 3 / 20

The diluted share count rose 151.2% over five years; stock-based pay has been a median 7.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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Figures from Beyond Meat, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Beyond Meat, Inc.