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Oatly Group AB (OTLY) stock analysis

OTLYNasdaqFood and Kindred ProductsFiscal year ends December 31
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 20-F on Mar 13, 2026Score 4/30
$7.96−0.16 (-1.97%)

Close on Nov 11, 2026Market cap $248.55MP/E –Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Value0Growth3Performance1Health0Dividend0

Weak4 of 30 checks passed

Oatly Group AB passes 4 of the 30 checks behind our score; 17 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
0/6
Growth
3/6
Past performance
1/6
Financial health
0/6
Dividend
0/6

What stands out

  • Guidance raised

    Oatly Group AB raised its 2026 Constant currency revenue growth outlook on Jul 22, 2026.

  • Growing faster than the industry

    Revenue grew 4.7% over the last twelve months; the Food and Kindred Products median is 1.4%.

  • Gross margin improving

    Gross margin was 32.1% over the last twelve months, against 28.7% a year earlier.

  • Net margin above its 5-year average

    Net margin was -17.7% over the last twelve months, against a 5-year average of -36.6%.

What to watch

  • Return on equity under 15%

    Return on equity was -431% over the last twelve months and averaged -95.9% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was -17.8%, below the 10% that usually covers the cost of capital.

  • Revenue growing under 10% a year

    Revenue grew 6.1% a year over the last three fiscal years, short of the 10% we look for.

  • Interest not well covered

    Operating income covers interest expense -0.8 times; we look for at least 5.

Valuation0/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E against the industry

    Needs positive earnings and enough profitable companies in the industry.

  • EV/EBITDA against its history

    Needs positive EBITDA and price history.

  • P/B against the industry

    Needs positive book value.

  • Price against fair value

    We could not estimate a fair value: it needs at least two valuation methods with positive inputs.

  • Margin of safety

    Depends on the fair value estimate.

Growth3/6

  • Revenue growing under 10% a year

    Revenue grew 6.1% a year over the last three fiscal years, short of the 10% we look for.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing faster than the industry

    Revenue grew 4.7% over the last twelve months; the Food and Kindred Products median is 1.4%.

  • Guidance raised

    Oatly Group AB raised its 2026 Constant currency revenue growth outlook on Jul 22, 2026.

  • Gross margin improving

    Gross margin was 32.1% over the last twelve months, against 28.7% a year earlier.

Past performance1/6

  • Return on equity under 15%

    Return on equity was -431% over the last twelve months and averaged -95.9% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was -17.8%, below the 10% that usually covers the cost of capital.

  • Return on equity below the industry

    Oatly Group AB's return on equity of -431% is below the Food and Kindred Products median of -15.0%.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin above its 5-year average

    Net margin was -17.7% over the last twelve months, against a 5-year average of -36.6%.

  • Net margin below the industry

    Oatly Group AB's net margin of -17.7% is below the Food and Kindred Products median of -4.1%.

Financial health0/6

  • Debt level

    Needs debt and equity figures.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt not well covered by cash flow

    Operating cash flow over the last twelve months equals -4.6% of total debt; we look for at least 20%.

  • Interest not well covered

    Operating income covers interest expense -0.8 times; we look for at least 5.

  • Short-term assets don't cover short-term debts

    Current assets are 0.43 times current liabilities.

  • Bankruptcy risk (Altman Z)

    Needs market value, working capital and retained earnings.

Dividend0/6

  • No dividend

    Oatly Group AB has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

We don't publish a fair value for Oatly Group AB. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

High risk

Average value traded per day
$1.27M
Value traded per 1% price move
$355.43K

Downside

High risk

Typical loss in a bad month
26.6%
Volatility (annualized)
67%
Sharpe ratio, 1 year
-0.79
Beta to the S&P 500 (5Y)
1.82

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2018 to 2025

Gross margin

32.1%+1.5 pts over 5 years

Operating margin

-7.9%+3.3 pts over 5 years

Net margin

-17.7%−3.4 pts over 5 years

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