“Beyond Meat is a food company. Just don’t tell that to investors.
“In its trading debut Thursday, the maker of plant-based foods that serve as a substitute for meat more than doubled in value, giving the company a market capitalization of $3.9 billion.
“Based on last year’s revenue of $87.9 million, that values Beyond Meat at 44 times sales, the kind of multiple usually seen from the fastest-growing technology companies.
“It’s not even in the same universe as big food companies, which are typically valued at less than two times revenue.
“Hormel is on the high end at 2.3 times sales, while Tyson Foods has a multiple of 0.7.”
Read more at NBC