Oatly Group AB
- Open
- 10.10
- Day high
- 10.31
- Day low
- 9.70
- Prev close
- 10.00
- Volume
- 60K
- Mkt cap
- $313M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 88.7
- P/S
- 0.4
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$464K over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions reducing (13F)
Oatly Group AB (OTLY) is a Consumer Defensive company listed on NASDAQ. The stock is down 33% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4).
Oatly Group AB (OTLY) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
OTLY earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 29, 2026 | $-0.90 | $-0.38 | +57.8% | $228M | +6.4% |
| Feb 11, 2026 | $-0.54 | $-0.61 | -13.0% | $234M | +8.2% |
| Jul 23, 2025 | $-0.68 | $-1.86 | -173.5% | $208M | -1.5% |
| Apr 30, 2025 | $-0.96 | $-0.51 | +46.9% | $198M | -4.1% |
| Feb 12, 2025 | $-1.60 | $-1.20 | +25.0% | $214M | +7.3% |
| Nov 7, 2024 | $-1.20 | $-1.20 | +0.0% | $208M | -5.1% |
| Jul 24, 2024 | $-1.40 | $-1.00 | +28.6% | $202M | -2.5% |
| Apr 30, 2024 | $-1.80 | $-1.60 | +11.1% | $199M | -1.0% |
| Feb 15, 2024 | $-1.60 | $-3.20 | -100.0% | $204M | +3.2% |
| Nov 9, 2023 | $-2.40 | $-1.40 | +41.7% | $188M | -2.0% |
| Jul 27, 2023 | $-2.40 | $-2.80 | -16.7% | $196M | -0.0% |
| Mar 15, 2023 | $-2.80 | $-4.20 | -50.0% | $195M | +4.0% |
OTLY insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 3, 2026 | Lind Martin Fredrikofficer: Principal Accounting Officer | Sell | 2,968 | $8.96 |
| Jun 3, 2026 | Broadbent Simon Kenneth Jamesofficer: SVP Operations & Sust. | Sell | 7,820 | $8.95 |
| Jun 3, 2026 | Ordonez Daniel Eduardoofficer: Global President & COO | Sell | 39,066 | $8.95 |
| Jun 3, 2026 | Flatin Jean-Christophe Marieofficer: Chief Executive Officer | Sell | 1,934 | $8.94 |
| Jun 2, 2026 | David Marie-Joseofficer: Chief Financial Officer | Grant | 45,228 | $10.05 |
| Jun 2, 2026 | David Marie-Joseofficer: Chief Financial Officer | Grant | 24,875 | — |
| Jun 2, 2026 | Mattsson Pontusofficer: General Counsel | Grant | 14,925 | — |
| Jun 2, 2026 | Broadbent Simon Kenneth Jamesofficer: SVP Operations & Sust. | Grant | 34,825 | — |
| Jun 2, 2026 | Lind Martin Fredrikofficer: Principal Accounting Officer | Grant | 9,950 | — |
| Jun 2, 2026 | Shiburi Rholane Hoshanadirector | Grant | 422 | — |
| Jun 2, 2026 | Flatin Jean-Christophe Marieofficer: Chief Executive Officer | Grant | 74,626 | — |
| Jun 2, 2026 | RATHKE FRANCES Gdirector | Grant | 23,656 | — |
| Jun 2, 2026 | Melloul Ericdirector | Grant | 29,962 | — |
| Jun 2, 2026 | Jones Hannah Ceridirector | Grant | 23,656 | — |
| Jun 2, 2026 | Christenson Gregory Stephendirector | Grant | 23,656 | — |
Source: OTLY SEC Form 4 filings, latest Jun 3, 2026. For informational purposes only — not investment advice.
See the full OTLY insider & 13F page →Oatly Group AB company profile
Overview
Oatly Group AB (NASDAQ:OTLY) is a Swedish plant-based food company founded in 1994 that specializes in oat-based dairy alternatives. Originally known as Havre Global AB, the company went public on NASDAQ in May 2021 following significant growth in the plant-based milk market. Headquartered in Malmö, Sweden, Oatly has expanded globally with operations across Europe, North America, and Asia, positioning itself as a pioneer in the oat milk category and broader plant-based dairy alternatives market.
Business
Oatly operates in the plant-based dairy alternatives industry, which is part of the broader non-alcoholic beverages sector. The company's core business revolves around creating dairy-free products made from oats, targeting consumers seeking alternatives to traditional cow's milk for health, environmental, or dietary reasons. The company's primary product is oat milk, a plant-based beverage created by blending oats with water and processing the mixture to create a creamy, milk-like consistency. Oat milk has gained popularity as a dairy alternative because it naturally contains fiber, has a creamy texture similar to dairy milk, and produces lower greenhouse gas emissions compared to traditional dairy farming. Oatly's product portfolio includes several categories: 1. Barista Edition oat milk - specially formulated for coffee shops and cafes, designed to foam and steam like dairy milk for lattes and cappuccinos. This represents a significant portion of their foodservice revenue. 2. Ready-to-drink beverages - including cold brew lattes, mocha lattes, matcha lattes, and flavored oat drinks in original and chocolate varieties, targeting the convenience and on-the-go consumption market. 3. Cooking and baking products - such as Cooking Cream, Crème Fraiche, Whipping Cream, and Vanilla Custard, designed to replace dairy ingredients in culinary applications. 4. Frozen desserts and ice creams - oat-based alternatives to traditional dairy frozen products. 5. Yogurt alternatives - fermented oat-based products called "oatgurts" that mimic traditional yogurt. The company operates across three main geographic segments: Europe and International (approximately 50-55% of revenue), North America (roughly 35-40% of revenue), and Greater China (approximately 10-15% of revenue), though these proportions have shifted as the company has focused on profitable growth in recent years.
Revenue model
Oatly generates revenue through direct product sales to two primary channels: retail and foodservice. The company sells its products to grocery retailers, who then sell to end consumers, and directly to restaurants, cafes, and other foodservice establishments that use oat milk in their beverages and food preparation. The retail channel involves selling packaged oat milk and other oat-based products through supermarkets, specialty stores, and online platforms. Consumers purchase these products for home consumption, cooking, and baking. The foodservice channel focuses on supplying coffee shops, restaurants, and institutional buyers with bulk oat milk products, particularly the Barista Edition formulated for professional coffee preparation. Revenue generation faces several margin-influencing factors. Positive margin drivers include economies of scale as production volumes increase, supply chain optimization through facility consolidation, strategic sourcing of oat inputs, premium positioning allowing higher pricing compared to conventional dairy alternatives, and growing consumer acceptance reducing promotional spending needs. The company has demonstrated significant gross margin improvement, expanding from low single digits to over 30% through operational efficiencies. Margin pressures come from volatile oat commodity prices, which directly impact input costs, intense competition in the plant-based milk category leading to promotional pricing, high transportation costs due to the liquid nature of products, regulatory compliance costs across different international markets, and the need for continuous brand investment to maintain market position. Additionally, the company faces challenges from private label competition and the cyclical nature of consumer adoption in the plant-based category. The business model requires substantial upfront capital investment in production facilities, though Oatly has recently shifted toward a more asset-light approach using third-party manufacturers to reduce capital intensity while maintaining quality control and supply chain flexibility.
Competitive moat
Oatly's competitive moat is moderate but faces significant challenges. The company's primary advantages stem from brand recognition and first-mover advantage in the oat milk category. Oatly established itself as the pioneer in oat-based dairy alternatives and built strong brand equity, particularly among environmentally conscious consumers and in the specialty coffee market where its Barista Edition became widely adopted. The company benefits from specialized product formulation expertise, particularly in creating oat milk that performs similarly to dairy milk in coffee applications - a technically challenging requirement that involves achieving proper texture, taste, and foaming properties. This technical know-how, combined with established relationships with coffee shops and foodservice providers, creates some switching costs for customers who have integrated Oatly products into their operations. However, Oatly's moat is increasingly under pressure. The plant-based milk market has attracted numerous competitors, including large food conglomerates with greater resources and distribution capabilities. Private label alternatives have emerged at lower price points, and other plant-based options like almond, soy, and pea-based milks compete for the same consumer base. The relatively simple manufacturing process for oat milk means barriers to entry are not particularly high for well-capitalized competitors. Competitive threats come from established dairy companies launching their own plant-based lines, major food manufacturers entering the space, and the constant pressure from price-competitive private label products. Additionally, the company faces the challenge that consumer preferences in plant-based alternatives can shift relatively quickly, and oat milk is just one option among many plant-based dairy alternatives. The company's international expansion and focus on premium positioning provide some differentiation, but sustaining market leadership requires continuous innovation, brand investment, and operational efficiency improvements to maintain competitive pricing while preserving margins.
Risks & safety
Oatly's margin of safety appears concerning with several financial stress indicators present. • **Liquidity concerns**: Current ratio of 0.53 indicates current liabilities significantly exceed current assets, creating potential short-term solvency issues • **Cash position**: $74 million in cash and short-term investments with negative free cash flow of $21 million in Q1 2025, suggesting limited financial runway • **Debt burden**: Debt-to-equity ratio of 3.95 indicates high leverage, though this includes operational liabilities • **Profitability**: Company remains unprofitable with negative net income, though showing improvement toward EBITDA breakeven • **Valuation metrics**: Trading at 11.1x EV/EBITDA based on positive Q1 2025 EBITDA, though historical EBITDA has been negative • **Operational cash flow**: Negative $14 million from operations in Q1 2025, indicating the business is not yet self-funding **Other considerations**: The company has been burning cash consistently, though the burn rate has improved. Management guidance suggests potential EBITDA positivity in 2025, but execution risk remains high given the competitive market environment and ongoing operational challenges.
Recent development
Over the past few years, Oatly has undergone a significant strategic transformation focused on achieving profitability and operational efficiency. The company implemented a major restructuring program that reduced its workforce from 2,000 to 1,500 employees and simplified its global supply chain from multiple facilities to five core manufacturing plants, including the closure of its Singapore facility. The company has shifted toward a more asset-light production model, increasingly relying on third-party manufacturers rather than building new owned facilities. This strategic pivot aims to reduce capital intensity while maintaining quality control and supply chain flexibility. Simultaneously, Oatly has focused heavily on cost optimization, achieving a 19% reduction in cost per liter over the past two years through supply chain improvements, contract renegotiations, and operational efficiencies. Geographic strategy has evolved with different approaches by region. In North America, the company has focused on expanding retail distribution while facing challenges in the foodservice sector, including the loss of its largest foodservice customer. In Europe, Oatly has launched targeted marketing campaigns to reignite category growth, including innovative approaches like taste-testing campaigns and cultural partnerships. The Greater China business underwent a strategic reset, with management rebuilding the retail presence while maintaining strength in foodservice channels. Recent product development has emphasized expanding beyond basic oat milk into adjacent categories like ready-to-drink beverages, cooking products, and frozen desserts. The company has also strengthened its Barista Edition product line, which remains crucial for foodservice relationships. Marketing strategy has shifted toward addressing consumer barriers to plant-based adoption, including taste perceptions and nutritional misinformation, while targeting younger demographics, particularly Gen Z consumers who show higher affinity for plant-based products.
OTLY company profile · for informational purposes only — not investment advice.
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