Beyond Meat, Inc.
BYND Consumer Defensive Packaged Foods
Beyond Meat, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $275.5 million, down 15.6% from fiscal 2024. In the quarter to June 2026, revenue fell 8.17%, EPS grew 107.0%, free cash flow grew 44.6% and total debt fell 70.7%, each against the same quarter a year earlier.
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Beyond Meat, Inc. (BYND) Altman Z-score
Beyond Meat, Inc.'s Altman Z-score for fiscal 2025 is −3.03, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −3.03 | (0.70) |
| FY2024 | −2.33 | (0.09) |
| FY2023 | −2.24 | (1.56) |
| FY2022 | −0.68 | (3.03) |
| FY2021 | 2.35 | (44.47) |
| FY2020 | 46.81 | 17.41 |
| FY2019 | 29.40 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.43 | — | 0.52 | |
| Retained earnings / total assets | (1.66) | — | −2.33 | |
| EBIT / total assets | (0.54) | — | −1.79 | |
| Market value of equity / total liabilities | 0.21 | — | 0.12 | |
| Sales / total assets | 0.45 | — | 0.45 | |
| Altman Z-score | Distress zone | −3.03 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −6.23 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| NATR Nature's Sunshine Products, Inc. compare | 5.4× |
| USNA USANA Health Sciences, Inc. compare | 3.6× |
| LFVN Lifevantage Corporation compare | 2.9× |
| FTLF FitLife Brands Inc. compare | 2.8× |
| WYHG Wing Yip Food Holdings Group Limited - Sponsored ADR compare | 2.5× |
| HOST Healthy Choice Wellness Corp. compare | 1.9× |
| BGS B&G Foods, Inc. compare | 1.3× |
| BRCC BRC Inc. compare | 1.2× |
| BYND Beyond Meat, Inc. | −3.0× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets