# Beyond Meat, Inc. (BYND)

> Source: Nexqual · https://nexqual.com/BYND · data as of 2026-10-23 13:31 UTC · cite as "Nexqual, Beyond Meat, Inc. (BYND), nexqual.com/BYND" · informational, not investment advice.

**Price:** USD 7.1 (-2.30% today) · US market open, as of October 23, 2026 at 13:31 UTC; quotes may be delayed. Prev close 7.27 · day 7.1–7.24 · 52w 6.49–100.5 · market cap $122M · NMS

## Key facts
- Last four reported quarters (through Jun 27, 2026): revenue $259M, net income $289M (111.7% margin), free cash flow -$120M (SEC filings).
- Valuation: P/E 0.4x (avg 0.7x at the last 1 fiscal year-ends), net debt $152M.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $283K; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Strong Sell (mean 4.67 on a 1–5 scale) (3 analysts), mean target USD 12.5 (range 10–15).
- Total return with dividends: 1Y -91.7% vs S&P 500 +14.9%; 5Y -99.8% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD -2, revenue estimate $64.0M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $465M | $419M | $343M | $326M | $275M | $259M |
| Gross profit | $117M | -$23.7M | -$82.7M | $41.7M | $7.6M | — |
| Operating income | -$175M | -$343M | -$342M | -$156M | -$334M | -$314M |
| Net income | -$182M | -$366M | -$338M | -$160M | $219M | $289M |
| EPS (diluted) | -$86.40 | -$172.50 | -$157.80 | -$72.90 | -$54.90 | — |
| Free cash flow | -$437M | -$391M | -$118M | -$110M | -$157M | -$120M |
| Gross margin | 25.2% | -5.7% | -24.1% | 12.8% | 2.8% | — |
| Operating margin | -37.6% | -81.8% | -99.6% | -47.8% | -121.1% | -121.5% |
| Net margin | -39.2% | -87.4% | -98.5% | -49.1% | 79.5% | 111.7% |
| Revenue growth | +14.2% | -9.8% | -18.0% | -4.9% | -15.6% | — |
| Cash + short-term investments | $733M | $310M | $191M | $132M | $204M | — |
| Total debt | $1.13B | $1.13B | $1.14B | $1.14B | $416M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 27, 2026)
P/E 0.4x · P/S 0.5x · EV/Sales 1.1x · P/B 2.1x · FCF yield -98.27% · Earnings yield 236.72% · Net debt $152M · EV $275M
P/E at fiscal year-ends: Dec 2025 0.7x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
2 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-04-20 | Witteman Teri L | Chief Legal Officer, Secretary | 29,978 | $30K | 0.7% | Yes (adopted December 12, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-04-13 | Kutua Lubi | CFO, Treasurer | 419,042 | $253K | 6.8% | Yes (adopted December 12, 2025) | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Strong Sell (mean 4.67 on a 1–5 scale), 3 analysts; mean target USD 12.5 (low 10, high 15).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-17 | Barclays | Maintained | Underweight | $0.5 → $10 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -91.7% | -99.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -91.7% | -70.1% |
| Volatility (annualized) | 109.8% | 106.7% |
| Max drawdown | -92.3% (Oct 2025→Oct 2026) | -99.8% (Nov 2021→Oct 2026) |

## Peers (Packaged Foods)
INGR (Ingredion Incorporated) USD 96.85 -0.34% · CPB (The Campbell's Company) USD 21.17 -0.42% · PPC (Pilgrim's Pride Corporation) USD 28.09 -0.02% · CAG (ConAgra Brands, Inc.) USD 15.12 +0.30% · SFD (Smithfield Foods, Inc.) USD 18.8 -0.05% · LW (Lamb Weston Holdings, Inc.) USD 55.21 +0.05%

## More
Full page: https://nexqual.com/BYND · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in BYND's own 10-K filed 2026-04-09 (https://www.sec.gov/Archives/edgar/data/1655210/000165521026000022/bynd-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Meta Platforms (META) | "We also intend to use certain social media channels as a means of disclosing information about us and our products to consumers, our customers, investors and the public (e.g., @BeyondMeat on Facebook, Instagram, Threads,…" |
| Customer | Food | "Food recalls and other food-borne illness and food safety incidents could result in significant losses due to their costs, the destruction of raw materials or product inventory, lost sales due to the unavailability of th…" |
| Partner | PepsiCo (PEP) | "In 2021, we entered into TPP, a joint venture with PepsiCo, Inc., to develop, produce and market innovative snack products made from plant-based protein." |
| Partner | Planet Partnership | "In 2021, we entered into TPP, a joint venture with PepsiCo, Inc., to develop, produce and market innovative snack products made from plant-based protein." |
| Partner | Unprocessed Foods | "On October 15, 2025, in connection with the Exchange Offer, we entered into (1) the First Amendment to LSA with Unprocessed Foods, which, among other things, added cross defaults to the Loan and Security Agreement relate…" |

## Revenue by region (quarter ended 2026-06-27)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| U.S. net revenues | $37.6M | 54.7% | -14.4% |
| International net revenues | $31.2M | 45.3% | +0.6% |
| Total revenue | $68.8M | 100% | — |

## Customer concentration

Period ended 2026-06-27: 14% of revenue from unnamed direct customers (10-Q, filed 2026-08-06).

## Company outlook (8-K filed 2026-08-05)

- "In light of this uncertainty, the Company is limiting its outlook to the following: • In the third quarter of 2026, net revenues are expected to be approximately $60 million to $65 million."
- "Forward-Looking Statements Certain statements in this release constitute "forward-looking statements" within the meaning of the federal securities laws, including statements related to the Company's expectations with respect to its third quarter 2026 outlook, its strategic repositioning and expansion into adjacent product categories, and efforts towards sustainable g"

Analysts expect $64.0M for the current quarter, +2.4% vs the guidance midpoint $62.5M. Source: https://www.sec.gov/Archives/edgar/data/1655210/000165521026000053/ex991pressrelease-q22026ea.htm

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-2.00 | $-2.22 | -9.9% | $64.0M | 2 |
| Next quarter (ends 2026-12-31) | $-3.95 | $-2.51 | +57.3% | $58.0M | 2 |
| Current fiscal year (ends 2026-12-31) | $-11.83 | $-10.16 | +16.4% | $245.5M | 2 |
| Next fiscal year (ends 2027-12-31) | $-10.42 | $-10.73 | -2.8% | $242.4M | 2 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-06 (includes earnings 2026-11-04): ±18.7%; earnings reaction alone ±11.2%; last 8 reports averaged ±11%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 93.7% | ±11.5% |
| 2026-11-06 | 14 | 114.5% | ±18.7% |
| 2026-11-13 | 21 | 106.8% | ±21.0% |
| 2026-11-20 | 28 | 114.0% | ±25.6% |
| 2026-11-27 | 35 | 107.2% | ±26.7% |
| 2026-12-18 | 56 | 100.0% | ±31.1% |
| 2027-01-15 | 84 | 99.7% | ±37.5% |
| 2027-02-19 | 119 | 102.2% | ±45.2% |