There are only 5 publicly trading pure-play companies in the plant-based consumer packaged goods sector with market capitalizations of US$50M or more and they are tracked in the munKNEE Pure-Play Plant-Based Food Stocks Index. That will change by the end of 2023 when Kellogg Co. (NYSE: K) splits into three independent companies, of which one will focus exclusively on plant-based foods.

Below is the performance of the constituents in the index for the week ending July 15th, in descending order, as well as since the end of May (6 weeks), and YTD, with each stock's current Operating Cash Flow, Price-to Earnings (P/E) Ratio, Altman-Z Score, Piotroski F Score, Return on Equity (ROE) and Return on Assets (ROA), where applicable. This information should help you assess the financial health of each company, how well the company is being managed and the extent to which the company is over- or under-valued compared to its peers. (Definitions of each metric are detailed at the bottom of the article.)

1. Beyond Meat (Nasdaq: BYND): Was UP 6.4% for the week ending July 15th, is UP 18.8% since the end of May but is DOWN 47.8% YTD.
   • Seeks to replicate the look, cook, and taste of meat. Its products are sold in the meat case of retail food stores across the U.S. and Canada and 83 other countries.
     • Positive Operating Cash Flow: No
     • Price-to Earnings (P/E) Ratio: Negative 
     • Altman Z-Score: 0.9; 44% chance of financial distress in the next 2 years
     • Piotroski F Score: 1
     • Return on Equity (ROE): 8%
     • Return on Assets (ROA): 2%
2. Guru Organic Energy (CSE: GURU | OTC: GUROF): Was Unchanged for the week ending July 15th, is Unchanged since the end of May, and remains DOWN 43.3%% YTD.
   • A Montreal, Canada beverage company launched in 1999, when it pioneered the world’s first natural, plant-based energy drink.
     • Positive Operating Cash Flow: N 
     • Price-to Earnings (P/E) Ratio: Negative
     • Altman Z-Score: 17.8; 26% chance of financial distress in the next 2 years
     • Piotroski F Score: 3
     • Return on Equity (ROE): 8%
     • Return on Assets (ROA): 2%
3. Else Nutrition (TSX: BABY | OTC: BABYF): Was DOWN 6.5% for the week ending July 15th, is DOWN 10.4% since the end of May, and is now DOWN 51.7% YTD
   • An Israel-based food and nutrition company focused on developing innovative, clean, and plant-based food and nutrition products for infants, toddlers, children, and adults.
     • Positive Operating Cash Flow: No
     • Price-to Earnings (P/E) Ratio: Negative 
     • Altman Z-Score: 3.9; 24% chance of financial distress in the next 2 years
     • Piotroski F Score: 3
     • Return on Equity (ROE): 8%
     • Return on Assets (ROA): 2%
4. Tattooed Chef (Nasdaq: TTCF): Was DOWN 9.3% for the week ending July 15th, is DOWN 3.0% since the end of May and is now DOWN 60.7% YTD.
   • Offers a broad portfolio of plant-based food products that are available in the frozen food sections of national retail food stores across the United States.
     • Positive Operating Cash Flow: No
     • Price-to Earnings (P/E) Ratio: Negative
     • Altman Z-Score: 6.1; 27% chance of financial distress in the next 2 years
     • Piotroski F Score: 3
     • Return on Equity (ROE): 8%
     • Return on Assets (ROA): 2%
5. Oatly Group (Nasdaq: OTLY): Was DOWN 12.2% for the week ending July 15th, is DOWN 14.3% since the end of May and is now DOWN 54.9% YTD.
   • The world’s original and largest oat drink company catering primarily to customers in Sweden, Germany, United Kingdom, Netherlands, Finland, and North America.
     • Positive Operating Cash Flow: No
     • Price-to Earnings (P/E) Ratio: Negative
     • Altman Z-Score: 3.6; 29% chance of financial distress in the next 2 years
     • Piotroski F Score: 6
     • Return on Equity (ROE): 8%
     • Return on Assets (ROA): 2%

Definitions:

Operating Cash Flow:

• Is money involved directly with the production and sale of goods from ordinary operations or, in other words, money coming in through sales minus operating expenses.
• Without positive operating cash flow a business doesn’t survive and, as such, is the best measure of a company’s financial and operational health.

Price/Earnings (P/E) Ratio:

• Is a measure a company's share price to its earnings per share and has the most value when compared against similar companies in the same industry or for a single company across a period of time.
• Helps one determine whether a stock is overvalued (a high P/E) or undervalued (a low P/E) and can also be benchmarked against other stocks in the same industry or against the broader market.

The Altman-Z Score:

• Is a numerical measurement used to predict the chances of a business going bankrupt in the next two years and has an accuracy that ranges from 82% and 94%.
• Is based on five financial ratios - profitability, leverage, liquidity, solvency, and activity. 

The Piotroski F Score:

• Is a back-tested strategy that rates how strong the financial fundamentals are for a value stock and in back-testing of the system against the market between 1976 and 1996 the system it would have beaten the average return on the stock market by 13.4%.
• A score of 0-3 indicates that the company has weak fundamentals while a score of 8-9 indicates a company with powerful fundamentals that are most likely to keep performing well in the future.

Return on Equity (ROE)

• Is a measure of how many dollars of profit are generated as a percentage of each dollar of shareholder's equity and, as such, is a metric of how well the company utilizes its equity to generate profits.
• The higher the ROE, the better a company is at converting its equity financing into profits.

Return on Assets (ROA)

• Is a measure that indicates how profitable a company's net income is as a percentage of its total assets and, as such, factors in a company's debt while return on equity does not.
• A higher ROA means a company is more efficient and productive at managing its balance sheet to generate profits while a lower ROA indicates there is room for improvement.

Hopefully, the above information will help you assess the financial health of each company, how well the company is being managed, and the extent to which the company is over- or under-valued compared to its peers.