PitchBook年二季度食品技术公共报表和估值指南（英）

EMERGING TECH RESEARCHFoodtech Public Comp Sheet and Valuation GuideQ220252Q2 2025 FOODTECH PUBLIC COMP SHEET AND VALUATION GUIDEPitchBook Data, Inc.Nizar Tarhuni Executive Vice President of Research and Market IntelligencePaul Condra Global Head of Private Markets ResearchJames Ulan Director of Emerging Technology ResearchInstitutional Research GroupAnalysisAlex Frederick Lead Research Analyst, Agtech and Foodtech alex.frederick@pitchbook.comBen Riccio Associate Research Analyst ben.riccio@pitchbook.comPublished on July 30, 2025pbinstitutionalresearch@pitchbook.comKey takeaways• Foodtech equities show resilience amid market turbulence: Public markets endured a volatile first half of the year, with tariff announcements in early April triggering sharp declines across major indexes. However, markets quickly rebounded, reaching record highs by the end of Q2 amid encouraging economic data and new trade agreements. The response from foodtech equities was mixed, reflecting the sector’s diverse business models and varied reliance on international imports. Hardware-centric segments such as kitchen tech ended the quarter flat, weighed down by supply chain sensitivities. In contrast, digital-first companies in food delivery and restaurant tech outperformed major indexes on average, while firms in alternative proteins saw strong stock gains fueled by continued consumer demand and investor optimism.• DoorDash acquires Deliveroo: In May, DoorDash announced its $3.8 billion acquisition of UK-based food delivery marketplace Deliveroo, paying a 44% premium over Deliveroo’s pre-announcement share price but still below the platform’s 2021 peak valuation of $10 billion. As valuations in the sector have sharply contracted since their pandemic highs, major players such as DoorDash and Uber are seizing discounted opportunities to expand their global footprint, fueling an ongoing wave of consolidation. Alongside Deliveroo, DoorDash also revealed a $1.2 billion acquisition of VC-backed restaurant reservation platform SevenRooms, signaling a strategic push into broader restaurant operations. DoorDash’s share price soared 35% during the quarter, with much of this rally driven by enthusiasm over these acquisitions and the company’s aggressive international growth strategy. • Restaurant and retail tech stands out: Restaurant and retail tech equities led foodtech sector performance over the past 90 days, with a median return of 28%—substantially outperforming both major indexes and other foodtech segments by a wide margin. Olo stood out as the top performer, posting a 44% share price increase over this period. The predominance of digital business models within this group helped shield it from tariff volatility, while steady consumer spending continued to drive transaction-based revenue growth. The PitchBook foodtech comp sheet was constructed with the PitchBook Excel plugin using both PitchBook and Morningstar data. The tool allows subscribers to pull financial data and