BYND - Embedded Expectations Analysis - 2020 07 20
Beyond Meat, Inc. (BYND:USA) currently trades at a historical high relative to UAFRS-based (Uniform) assets, with a 27.4x Uniform P/B. At these levels, the market is pricing in bullish expectations, but management may have concerns about their ability to grow overseas, manage costs, and sustain growth with existing customersManagement may have concerns about costs related to higher staffing levels and their ability to innovate, and they may lack confidence in the potential of their expansion with Starbucks throughout Canada and China. Additionally, they might be concerned about their ability to sustain growth at existing retail customers, and they might have concerns about the impact of recent discounting initiatives. Moreover, they might be exaggerating their view of their addressable market and concerned about their ability to build brand awareness. Finally, they might be concerned about their ability to improve cost structure and gross profit and their ability to advance in the market relative to their competitors
Beyond Meat is a food companies in the United States, offering a portfolio of plant-based meat products. The company builds meat directly from plants for the taste, texture and other sensory attributes of popular animal-based meat products while offering the nutritional benefits of eating plant-based meat products. The company has developed three core plant-based product platforms that align with the predominant meat categories globally: beef, pork and poultry. The company's flagship product is The Beyond Burger, a 100% plant-based burger merchandised in the meat case of grocery stores. All of the company's products are antibiotic-free, hormone-free, GMO-free and gluten-free.
In 2009, just as the dust was settling from the last major equity and credit market crises, we launched a boutique research firm with the intention of breaking Wall Street’s biases and broken incentives:
- GAAP and IFRS have failed to provide rules for reliable financial statement reporting
- Stock analyst recommendations are not grounded in disciplined financial analysis
- Credit agencies have been set up to grossly fail in their responsibilities to investors and the public markets
- Utter lack of willingness of major research firms to employ the the most advanced forensic analysis available
We sought to provide investors and company analysts with a source of information that changed all that.
Many years later, our business model remains because little has changed on Wall Street.
- Corporate credit ratings remain years behind the fundamental underpinnings of company performance
- Stock analysts continue to make recommendations with deeply inherent biases
- Research firms have failed to break down the walls between credit, equity, and macroeconomic research
- The governing accounting bodies have created more leeway for mis-estimates and mis-classifications as financials have become unwieldy and overwhelming
The integrity of Valens Research is founded in our disciplined processes and analytics. No “star” analysts. No corporate advisory relationships. No-nonsense opinions and recommendations.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.