Lotus Bakeries N.V.

Lotus Bakeries shares have surged nearly 590% over the past decade, driven by soaring global sales of its Biscoff cookies. The stock is up 47% year-to-date, even as food and staple stocks have largely struggled worldwide. Biscoff is now among the world's top five biscuit brands by sales, and a viral TikTok trend involving Lotus biscuits in a Japanese cheesecake recipe has further boosted demand. The company has expanded into spreads, ice cream, and chocolates, and opened a factory in Thailand to reach Asian markets, helping revenue jump an average 17% annually between 2014 and 2024. Despite the strong performance, the stock trades at about 46 times expected earnings, more than double the MSCI World Food, Beverage and Tobacco Index, and the average analyst price target suggests no upside over the next 12 months.