Where Will Beyond Meat Stock Be in 3 Years?

Beyond Meat (NASDAQ: BYND), a producer of plant-based meat products, went public seven years ago at $25 per share. Today, its stock trades at less than $1. Let's see why Beyond Meat's stock collapsed -- and if it will bounce back or get delisted over the next three years.

What happened to Beyond Meat?

From 2021 to 2025, Beyond Meat's revenue declined from $465 million to $276 million without a single year of growth. Its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) fell from negative $113 million to negative $178 million.

Image source: Getty Images.

Beyond Meat struggled during the pandemic as fewer retailers and restaurants bought its products, while cost-conscious consumers opted for cheaper animal-based meat products. Aggressive competitors, including Impossible Foods and Tyson, carved up the fragmented and shrinking market. Inflation dashed its hopes for a post-pandemic recovery, and a failed jerky-making joint venture with PepsiCo exacerbated its slowdown.

Beyond Meat liquidated its inventory with aggressive markdowns to offset that pressure, but that strategy reduced its gross margin from 25.2% in 2021 to 2.8% in 2025.

By 2028, analysts expect Beyond Meat's revenue to decline to $253 million without a single year of growth. However, they expect its adjusted EBITDA to improve to negative $74 million as it cuts costs to right-size its business.

Where will Beyond Meat's stock be in 3 years?

Beyond Meat's main turnaround strategy is to rebrand itself as a broader wellness brand with its "Beyond" functional drinks and other food products. It also aims to stabilize its margins by discontinuing its weaker products, implementing selective price increases, exiting weaker markets, and expanding into stronger regions, such as Western Europe.

But with an enterprise value of $599 million (including its $492 million in total liabilities), Beyond Meat still isn't a bargain at three times next year's sales. It's also increased its share count by 620% over the past three years, and that dilution should continue for the foreseeable future.

Even if Beyond Meat matches analysts' estimates through 2028, it stabilizes its business, and its revenue growth flatlines instead of declining in 2029, it would still seem overvalued at three times this year's sales. If it trades at just one times sales -- which would be reasonable for a zero-growth company -- its stock could actually decline nearly 60% over the next three years.

Beyond Meat isn't down for the count yet, but it's hard to believe its long-shot turnaround strategies will work. Unless it implements a reverse stock split to boost its stock price above $1 again, it could be delisted by 2029.

Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Beyond Meat. The Motley Fool has a disclosure policy.