NASDAQ : OTLY
Oatly Group AB — Financial statements
Consumer Staples · Packaged Foods · Sweden
Last price 7.75 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 247.32M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Oatly Group AB (OTLY) reported revenue of 945.25M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 945.25M | 862.46M | 823.67M | 783.35M | 722.24M | 643.19M |
| Cost of Revenue | 623.81M | 585.40M | 587.17M | 631.26M | 642.21M | 486.68M |
| Gross Profit | 321.44M | 277.06M | 236.49M | 152.08M | 80.03M | 156.51M |
| Selling, General & Admin | 347.36M | 320.64M | 324.72M | 373.40M | 412.80M | 350.46M |
| Research & Development | 19.12M | 18.57M | 30.14M | 21.05M | 22.26M | 16.77M |
| Other Operating Expenses | -3.30M | -1.34M | -1.04M | 851.00K | -1.12M | -1.28M |
| Operating Expenses | 363.18M | 337.88M | 353.81M | 395.29M | 433.94M | 365.95M |
| Operating Income | -41.74M | -60.82M | -117.32M | -243.21M | -353.92M | -209.44M |
| Interest Expense | -58.55M | -61.73M | -62.48M | -49.33M | -13.93M | -14.98M |
| Interest & Investment Income | 3.88M | 4.49M | 10.30M | 12.67M | 2.14M | 1.77M |
| Currency Exchange Gain (Loss) | 1.94M | -3.48M | 12.24M | 4.83M | 9.34M | 13.32M |
| Other Non Operating Income (Expenses) | 9.74M | -21.97M | -7.50M | -18.76M | -916.00K | -534.00K |
| EBT Excluding Unusual Items | -84.73M | -143.51M | -164.76M | -293.80M | -357.28M | -209.86M |
| Merger & Restructuring Charges | -6.00M | -6.70M | -66.77M | -201.56M | ||
| Gain (Loss) on Sale of Investments | -1.82M | -222.00K | ||||
| Asset Writedown | -38.29M | -4.97M | ||||
| Legal Settlements | -9.25M | |||||
| Other Unusual Items | 5.30M | 5.30M | 32.95M | 96.44M | ||
| Pretax Income | -85.44M | -144.92M | -198.57M | -408.17M | -397.39M | -215.05M |
| Income Tax Expense | 4.71M | 8.20M | 3.70M | 8.89M | -4.83M | -2.65M |
| Earnings From Continuing Operations | -90.15M | -153.12M | -202.27M | -417.06M | -392.57M | -212.39M |
| Minority Interest in Earnings | 262.00K | 344.00K | 323.00K | 186.00K | ||
| Net Income | -89.89M | -152.77M | -201.95M | -416.87M | -392.57M | -212.39M |
| Net Income to Common | -89.89M | -152.77M | -201.95M | -416.87M | -392.57M | -212.39M |
| Shares Outstanding (Basic) | 31.45M | 30.38M | 29.84M | 29.68M | 29.60M | 27.45M |
| Shares Outstanding (Diluted) | 31.45M | 30.38M | 29.84M | 29.68M | 29.60M | 27.45M |
| EPS (Basic) | -2.86 | -5.03 | -6.77 | -14.05 | -13.26 | -7.74 |
| EPS (Diluted) | -2.86 | -5.03 | -6.77 | -14.05 | -13.26 | -7.74 |
| Free Cash Flow | -34.82M | -36.12M | -153.57M | -231.72M | -470.60M | -487.59M |
| Free Cash Flow Per Share | -1.11 | -1.19 | -5.15 | -7.81 | -15.90 | -17.76 |
| Gross Margin | 34.01% | 32.12% | 28.71% | 19.41% | 11.08% | 24.33% |
| Operating Margin | -4.42% | -7.05% | -14.24% | -31.05% | -49.00% | -32.56% |
| Profit Margin | -9.51% | -17.71% | -24.52% | -53.22% | -54.35% | -33.02% |
| Free Cash Flow Margin | -3.68% | -4.19% | -18.64% | -29.58% | -65.16% | -75.81% |
| EBITDA | -6.24M | -26.11M | -81.69M | -191.51M | -305.60M | -182.21M |
| EBITDA Margin | -0.66% | -3.03% | -9.92% | -24.45% | -42.31% | -28.33% |
| D&A For EBITDA | 35.50M | 34.71M | 35.63M | 51.70M | 48.31M | 27.22M |
| EBIT | -41.74M | -60.82M | -117.32M | -243.21M | -353.92M | -209.44M |
| EBIT Margin | -4.42% | -7.05% | -14.24% | -31.05% | -49.00% | -32.56% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 23.32M | 64.34M | 98.92M | 249.30M | 82.64M | 295.57M |
| Trading Asset Securities | 249.94M | |||||
| Cash & Short-Term Investments | 23.32M | 64.34M | 98.92M | 249.30M | 82.64M | 545.51M |
| Accounts Receivable | 100.58M | 103.52M | 103.37M | 112.95M | 100.95M | 105.52M |
| Other Receivables | 9.86M | 17.84M | 20.68M | 33.68M | 14.98M | 28.75M |
| Receivables | 110.44M | 121.37M | 124.04M | 146.63M | 115.94M | 134.27M |
| Inventory | 80.70M | 68.54M | 65.60M | 67.88M | 114.47M | 95.66M |
| Prepaid Expenses | 11.53M | 8.61M | 9.40M | 16.93M | 23.41M | 27.71M |
| Other Current Assets | 5.17M | 2.33M | 1.16M | 2.65M | 145.78M | 3.92M |
| Total Current Assets | 231.16M | 265.19M | 299.13M | 483.38M | 482.25M | 807.06M |
| Property, Plant & Equipment | 302.50M | 332.60M | 339.75M | 448.68M | 601.55M | 668.10M |
| Goodwill | 118.05M | 128.49M | 107.24M | 118.21M | 112.90M | 130.36M |
| Other Intangible Assets | 5.62M | 7.63M | 7.75M | 10.95M | 13.57M | 12.49M |
| Long-Term Deferred Tax Assets | 3.56M | 4.68M | 4.56M | 10.20M | 5.86M | 2.29M |
| Long-Term Deferred Charges | 2.94M | 1.63M | 1.21M | 1.16M | 1.21M | 3.08M |
| Other Long-Term Assets | 18.26M | 19.00M | 19.46M | 22.29M | 7.85M | 5.53M |
| Total Assets | 712.71M | 787.20M | 803.98M | 1.12B | 1.23B | 1.63B |
| Accounts Payable | 67.59M | 66.48M | 60.15M | 64.37M | 82.52M | 93.04M |
| Accrued Expenses | 125.96M | 116.55M | 109.01M | 131.54M | 130.65M | 124.74M |
| Short-Term Debt | 346.36M | 333.14M | 324.39M | 323.53M | ||
| Current Portion of Long-Term Debt | 7.98M | 7.12M | 5.76M | 6.06M | 50.24M | 5.99M |
| Current Portion of Leases | 10.85M | 12.46M | 13.36M | 16.43M | 16.82M | 16.70M |
| Current Income Taxes Payable | 1.32M | 1.64M | 1.48M | 2.73M | 5.51M | 567.00K |
| Other Current Liabilities | 16.31M | 19.92M | 20.91M | 39.00M | 56.16M | 2.35M |
| Total Current Liabilities | 576.38M | 557.32M | 535.06M | 583.65M | 341.91M | 243.39M |
| Long-Term Debt | 168.83M | 182.78M | 116.22M | 114.25M | 2.67M | |
| Long-Term Leases | 17.33M | 24.73M | 31.72M | 72.57M | 82.28M | 126.52M |
| Long-Term Deferred Tax Liabilities | 2.68M | |||||
| Other Long-Term Liabilities | 2.70M | 14.86M | 10.72M | 7.19M | 11.03M | |
| Total Liabilities | 762.54M | 767.53M | 697.86M | 781.19M | 434.05M | 383.61M |
| Common Stock | 112.00K | 110.00K | 106.00K | 105.00K | 105.00K | 105.00K |
| Additional Paid-In Capital | 1.64B | 1.64B | 1.63B | 1.63B | 1.63B | 1.63B |
| Retained Earnings | -1.46B | -1.40B | -1.25B | -1.06B | -665.52M | -308.42M |
| Comprehensive Income & Other | -233.67M | -225.35M | -274.16M | -233.20M | -171.48M | -74.49M |
| Total Common Equity | -50.82M | 18.55M | 104.69M | 333.99M | 791.14M | 1.25B |
| Minority Interest | 987.00K | 1.12M | 1.44M | 1.79M | ||
| Shareholders' Equity | -49.83M | 19.67M | 106.12M | 335.78M | 791.14M | 1.25B |
| Total Liabilities & Equity | 712.71M | 787.20M | 803.98M | 1.12B | 1.23B | 1.63B |
| Total Debt | 551.35M | 560.24M | 491.45M | 532.84M | 152.01M | 149.21M |
| Net Cash (Debt) | -528.03M | -495.89M | -392.53M | -283.54M | -69.37M | 396.30M |
| Net Cash Per Share | -16.79 | -16.32 | -13.15 | -9.55 | -2.34 | 14.44 |
| Filing Date Shares Outstanding | 31.91M | 31.23M | 29.93M | 29.75M | 29.62M | 29.59M |
| Total Common Shares Outstanding | 31.91M | 31.23M | 29.93M | 29.75M | 29.62M | 29.59M |
| Working Capital | -345.22M | -292.13M | -235.93M | -100.27M | 140.34M | 563.68M |
| Book Value Per Share | -1.59 | 0.59 | 3.50 | 11.23 | 26.71 | 42.09 |
| Tangible Book Value | -174.49M | -117.56M | -10.31M | 204.83M | 664.67M | 1.10B |
| Tangible Book Value Per Share | -5.47 | -3.76 | -0.34 | 6.88 | 22.44 | 37.26 |
| Land | 110.45M | 113.15M | 104.81M | 104.75M | 77.06M | 117.42M |
| Machinery | 317.44M | 313.57M | 286.15M | 278.85M | 243.40M | 199.00M |
| Construction In Progress | 32.63M | 32.41M | 54.31M | 217.29M | 225.94M | 234.38M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -89.89M | -152.77M | -201.95M | -416.87M | -392.57M | -212.39M |
| Depreciation & Amortization | 46.69M | 46.06M | 47.47M | 51.70M | 48.31M | 27.22M |
| Other Amortization | 3.99M | 2.50M | 2.49M | |||
| Loss (Gain) From Sale of Assets | -474.00K | -307.00K | 675.00K | 37.36M | 422.00K | |
| Asset Writedown & Restructuring Costs | -12.52M | -14.16M | 43.23M | 174.42M | 285.00K | 4.97M |
| Loss (Gain) From Sale of Investments | 1.82M | 222.00K | ||||
| Stock-Based Compensation | 12.82M | 13.26M | 13.60M | 21.45M | 35.47M | 23.63M |
| Provision & Write-off of Bad Debts | 799.00K | 913.00K | -234.00K | 611.00K | 3.09M | -253.00K |
| Other Operating Activities | 24.65M | 70.32M | -13.70M | -15.79M | 13.48M | -6.86M |
| Change in Accounts Receivable | 4.55M | 14.40M | 14.79M | -2.50M | 6.99M | -79.28M |
| Change in Inventory | -25.48M | -6.18M | -3.46M | 30.54M | -55.02M | -63.69M |
| Change in Accounts Payable | 17.00M | 1.92M | -16.36M | -9.86M | 31.83M | 92.17M |
| Operating Cash Flow | -17.84M | -23.72M | -114.43M | -165.63M | -268.95M | -213.83M |
| Capital Expenditures | -16.98M | -12.40M | -39.14M | -66.09M | -201.66M | -273.76M |
| Sale of Property, Plant & Equipment | 763.00K | 575.00K | 31.20M | 44.00M | ||
| Sale (Purchase) of Intangibles | -3.74M | -2.86M | -2.06M | -2.95M | -4.51M | -7.84M |
| Investment in Securities | -1.31M | -1.31M | -1.65M | 240.96M | -262.73M | |
| Other Investing Activities | 41.00K | 449.00K | 743.00K | |||
| Investing Cash Flow | -21.23M | -15.54M | -9.25M | -26.70M | 34.79M | -544.33M |
| Short-Term Debt Issued | 324.95M | |||||
| Long-Term Debt Issued | 183.72M | 176.85M | 47.85M | 118.00M | ||
| Total Debt Issued | 185.17M | 183.72M | 501.80M | 47.85M | 118.00M | |
| Short-Term Debt Repaid | -24.63M | -10.94M | ||||
| Long-Term Debt Repaid | -145.29M | -22.32M | -114.26M | -11.93M | -222.19M | |
| Lease Payments | -11.68M | -11.95M | -19.64M | -11.41M | -10.90M | -9.28M |
| Total Debt Repaid | -167.64M | -169.92M | -22.32M | -114.26M | -11.93M | -233.14M |
| Net Debt Issued (Repaid) | 17.52M | 13.80M | -22.32M | 387.55M | 35.92M | -115.13M |
| Issuance of Common Stock | 111.00K | 1.14B | ||||
| Other Financing Activities | -13.24M | -12.73M | -4.96M | -32.55M | -67.27M | |
| Financing Cash Flow | 4.28M | 1.18M | -27.29M | 355.00M | 35.92M | 955.80M |
| Foreign Exchange Rate Adjustments | -793.00K | 3.50M | 591.00K | 3.98M | -14.70M | -7.43M |
| Net Cash Flow | -35.58M | -34.58M | -150.38M | 166.66M | -212.93M | 190.21M |
| Free Cash Flow | -34.82M | -36.12M | -153.57M | -231.72M | -470.60M | -487.59M |
| Free Cash Flow Margin | -3.68% | -4.19% | -18.64% | -29.58% | -65.16% | -75.81% |
| Free Cash Flow Per Share | -1.11 | -1.19 | -5.15 | -7.81 | -15.90 | -17.76 |
| Levered Free Cash Flow | -23.21M | -17.61M | -102.21M | -50.42M | -436.19M | -387.80M |
| Unlevered Free Cash Flow | 13.38M | 20.97M | -63.16M | -19.59M | -427.49M | -378.43M |
| Free Cash Flow After Leases | -46.50M | -48.06M | -173.21M | -243.13M | -481.50M | -496.87M |
| Cash Interest Paid | 22.87M | 23.98M | 24.52M | 20.50M | 12.88M | 9.24M |
| Cash Income Tax Paid | 996.00K | 318.00K | 3.39M | 18.10M | 2.96M | 2.73M |
| Change in Working Capital | -3.92M | 10.14M | -5.03M | 18.19M | -16.20M | -50.79M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 246.05M | 324.19M | 396.33M | 701.22M | 1.03B | 4.71B |
| Enterprise Value | 774.08M | 814.06M | 770.08M | 926.48M | 1.05B | 4.13B |
| Last Close Price | 7.75 | 10.69 | 13.26 | 23.60 | 34.80 | 159.20 |
| PS Ratio | 0.26 | 0.38 | 0.48 | 0.90 | 1.43 | 7.32 |
| PB Ratio | 16.48 | 3.73 | 2.09 | 1.30 | 3.78 | |
| P/TBV Ratio | 3.42 | 1.55 | 4.27 | |||
| EV/Sales Ratio | 0.82 | 0.94 | 0.94 | 1.18 | 1.46 | 6.42 |
| Debt / Equity Ratio | -11.06 | 28.48 | 4.63 | 1.59 | 0.19 | 0.12 |
| Net Debt / Equity Ratio | -10.60 | 25.21 | 3.70 | 0.84 | 0.09 | -0.32 |
| Net Debt / EBITDA Ratio | -84.66 | -18.99 | -4.80 | -1.48 | -0.23 | 2.17 |
| Net Debt / FCF Ratio | -15.16 | -13.73 | -2.56 | -1.22 | -0.15 | 0.81 |
| Asset Turnover | 1.27 | 1.08 | 0.86 | 0.67 | 0.51 | 0.56 |
| Inventory Turnover | 8.63 | 8.73 | 8.80 | 6.92 | 6.11 | 7.22 |
| Quick Ratio | 0.23 | 0.33 | 0.42 | 0.68 | 0.58 | 2.79 |
| Current Ratio | 0.40 | 0.48 | 0.56 | 0.83 | 1.41 | 3.32 |
| Return on Equity (ROE) | -243.44% | -91.55% | -74.02% | -38.55% | -27.03% | |
| Return on Assets (ROA) | -3.50% | -4.78% | -7.63% | -12.98% | -15.50% | -11.34% |
| Return on Capital Employed (ROCE) | -30.60% | -26.50% | -43.60% | -45.60% | -40.10% | -15.10% |
| Earnings Yield | -37.07% | -47.12% | -50.95% | -59.45% | -38.10% | -4.51% |
| FCF Yield | -14.19% | -11.14% | -38.75% | -33.05% | -45.67% | -10.35% |
| Buyback Yield / Dilution | -4.64% | -1.78% | -0.55% | -0.27% | -7.82% | -20.87% |