Q3 2024 FoodTech Public Company Sheet and Valuation Guide
Key Takeaways
- US Equity Performance:
- The US stock market showed strong growth in Q3 2024, with the S&P 500 advancing 5% for the quarter and gaining 31% year-to-date.
- Subsegment performance varied:
- Meal Kits: Experienced a significant 57% increase in stock prices.
- Food Delivery Marketplaces: Recorded a solid 24% increase.
- Restaurant & Retail Tech: Saw a 13% decline.
- Despite overall market growth, emerging foodtech companies face economic challenges, including inflationary pressures, elevated borrowing costs, and rising energy expenses.
Sector-Specific Metrics
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Alternative Proteins:
- Valuation multiples contracted sharply, with the median EV/TTM revenue ratio dropping to 3.2x in Q3 2024 from 11.4x in 2023.
- This decline reflects diminished investor optimism for the sector.
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Online Grocers:
- Projected to achieve a median gross profit margin of 72% in 2024, up from 33% in the previous year.
- This indicates substantial profitability improvements in the online grocery sector.
Valuation Charts
Revenue and EBITDA Charts
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Revenue:
- No specific data provided.
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EBITDA:
- No specific data provided.
Note: The fully interactive Excel data pack for this report is available to PitchBook clients via the Excel plugin.
