Oatly Group AB

OTLY

Beverages - Non-Alcoholic · Consumer Defensive

Price

$10.04

+0.04 (+0.40%)

Market Cap

$313.5M

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+10.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 27.5M (2021) → 30.4M (2025)

Oatly Group AB, an oatmilk company, provides a range of plant-based dairy products made from oats in Sweden. It offers Barista edition oatmilk, oatgurts, frozen desserts, ice-creams, and yogurts; ready-to-go drinks, such as cold brew latte, mocha latte, matcha latte, and mini oat drink in original and chocolate flavors; and cooking products, including Cooking Cream, in regular and organic, Crème Fraiche, Whipping Cream, Vanilla Custard and Spreads in a variety of flavors. The company was formerl

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+15.6% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+4.8% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$19M/ year

↓ Declining (-38% vs prior year)

2.2% of revenue

In line with sector average (2%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

6.4%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~13 months

$49M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Adequate runway but may need to raise capital within 2 years

Growth context

Oatly Group AB is growing revenue at 16% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

33.4%

Modest — 33.4% gross margin

Operating Margin

-5.0%

Losing money on operations — -5.0%

ROCE

-2.2%

Weak — -2.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+8.5%

Steady sales growth (8.5% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-3.2%

Burning cash (-3.2%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

145.23

Heavy debt load (145.23)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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