Modern Meat (MEAT) AI Stock Analysis

• Market Cap: C$1.05M
• Dividend Yield: N/A
• Average Volume (3M): 3.95K
• Price to Earnings (P/E): ―
• Beta (1Y): 3.53
• Revenue Growth: -3.76%
• EPS Growth: 86.34%
• Country: CA
• Employees: N/A
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): N/A
• Shares Outstanding: 12,347,675
• 10 Day Avg. Volume: 1,050
• 30 Day Avg. Volume: 3,950
• PEG Ratio: 0.02
• Price to Book (P/B): -0.24
• Price to Sales (P/S): 0.73
• P/FCF Ratio: -0.87
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: C$0.08 ▲(36.67% Upside)

The score is held down primarily by weak financial performance: shrinking revenue, continued losses, negative cash flow, and a fragile balance sheet with negative equity and rising debt. Technical indicators are mixed and do not provide a strong momentum tailwind, while valuation is also constrained by a negative P/E and no dividend support.

Positive Factors

Improving cash burn

The meaningful reduction in operating cash outflows shows management has taken steps to control costs and slow the cash burn. That improvement reduces near-term financing pressure, increasing the window for strategic initiatives and pathway to break-even if revenue stabilizes.

Narrowing losses

A sustained trend of shrinking net losses suggests operating disciplines or mix changes are working. Narrower losses improve survivability and make incremental investments less dilutive, supporting a multi-month recovery plan if management sustains cost controls and restores top-line growth.

Modest asset improvement

An uptick in total assets provides a small but useful buffer for working capital and liquidity. While modest, improved asset levels enhance short-term flexibility and creditor confidence, aiding operational continuity during a multi-month restructuring or commercial push.

Negative Factors

Shrinking revenue

A prolonged steep decline in revenue erodes scale economics, weakens bargaining power with suppliers and retailers, and limits the ability to spread fixed costs. Without durable top-line stabilization, margin recovery and profitable unit economics remain unlikely over the medium term.

Negative equity and rising debt

Negative equity and rising leverage constrain financial flexibility, increase refinancing and covenant risk, and can force dilutive capital raises. A fragile balance sheet limits strategic options, making it harder to invest in growth or withstand further operational setbacks over coming months.

Persistent negative cash flow & gross loss

Consistent negative operating and free cash flow, coupled with a recent negative gross profit, indicate the core offering lacks sustainable unit economics. This structural cash burn necessitates external financing and undermines long-term viability until product margins or pricing are materially improved.

Modern Meat Business Overview & Revenue Model

Company Description

Modern Plant Based Foods Inc., a food company, develops and distributes plant-based meat alternative products in Canada and the United States. The company offers plant-based products, including meat and dairy-free alternatives, soups, and vegan snacks under the Modern Meat, KitsKitchen, Snacks From The Sun, and Modern Wellness Bar brands. It offers its products through retail supermarkets, natural grocers, and independents, as well as e-commerce platforms. The company was formerly known as Modern Meat Inc. and changed its name to Modern Plant Based Foods Inc. on February 2021. Modern Plant Based Foods Inc. is headquartered in Vancouver, Canada.

How the Company Makes Money

Modern Meat makes money primarily through the sale of its plant-based food products to retailers, restaurants, and directly to consumers. The company's key revenue streams include wholesale distribution to grocery chains and foodservice providers, as well as direct-to-consumer sales through its online platform. Strategic partnerships with established food distributors and retail chains help expand its market reach and drive sales. Additionally, Modern Meat may engage in co-branding initiatives and collaborations with other companies in the food industry to further boost its earnings.

Modern Meat Financial Statement Overview

Summary

Modern Meat faces significant financial distress across all dimensions. The income statement shows deteriorating profitability and declining revenues. The balance sheet highlights a precarious financial position with negative equity and high liabilities, posing solvency risks. Cash flow challenges further exacerbate the company's financial health, underscoring the need for strategic restructuring and potential capital infusion to stabilize operations.

Income Statement

Modern Meat shows significant challenges in profitability and revenue growth. The TTM net profit margin is severely negative at -173.1%, highlighting substantial losses. Gross profit margin has decreased to 15.6% from 20.1% in the previous annual period. Revenue has declined by 15.3% year-over-year, indicating a shrinking sales base. Additionally, the EBIT and EBITDA margins are negative, reflecting operational inefficiencies.

Balance Sheet

The balance sheet indicates financial instability with a negative stockholders' equity of -144.2%. The debt-to-equity ratio cannot be calculated due to negative equity, suggesting high leverage. The equity ratio is also negative, reinforcing the company's over-leveraged position. Overall, the balance sheet presents a risky financial structure with potential solvency issues.

Cash Flow

Cash flow analysis reveals substantial cash burn, with negative operating and free cash flows in the TTM period. The operating cash flow to net income ratio is positive, suggesting some alignment between reported losses and cash outflows. However, the free cash flow to net income ratio is negative, indicating cash constraints. The lack of free cash flow growth signals ongoing cash management challenges.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	568.24K	568.24K	625.48K	751.35K	1.65M	2.27M
Gross Profit	-65.78K	-65.78K	125.03K	103.72K	23.15K	386.90K
EBITDA	-625.62K	-625.98K	-643.00K	-8.18M	-11.31M	-5.84M
Net Income	-849.95K	-850.16K	-810.00K	-8.29M	-11.59M	-6.18M
Balance Sheet
Total Assets	1.06M	1.06M	612.77K	702.53K	1.24M	3.48M
Cash, Cash Equivalents and Short-Term Investments	69.59K	69.59K	166.08K	57.71K	216.60K	647.49K
Total Debt	1.79M	1.79M	1.31M	657.92K	166.79K	527.87K
Total Liabilities	2.81M	2.81M	2.27M	1.66M	1.13M	1.67M
Stockholders Equity	-1.75M	-1.75M	-1.65M	-952.32K	108.91K	1.83M
Cash Flow
Free Cash Flow	-475.49K	-475.49K	-552.20K	-1.45M	-1.98M	-4.82M
Operating Cash Flow	-475.49K	-475.49K	-552.20K	-1.44M	-1.98M	-4.07M
Investing Cash Flow	8.00	8.00	0.00	317.93K	-5.21K	-733.46K
Financing Cash Flow	380.00K	380.00K	662.66K	971.23K	1.56M	2.66M

Modern Meat Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.06
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MEAT, the sentiment is Positive. The current price of 0.06 is below the 20-day moving average (MA) of 0.08, below the 50-day MA of 0.09, and below the 200-day MA of 0.09, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 49.96 is Neutral, neither overbought nor oversold. The STOCH value of 9.09 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:MEAT.

Modern Meat Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
MEAT	44 Neutral	C$1.05M	-1.11	―	―	-3.76%	86.34%
CULT	41 Neutral	C$1.12M	-0.14	-190.55%	―	―	-126.28%
BABY	38 Underperform	C$3.93M	-0.27	-517.87%	―	-25.08%	65.57%
PNGA	27 Underperform	C$11.34M	-2.07	-86.40%	―	-49.04%	15.66%