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National Beverage

FIZZ Nasdaq Soft Drinks & Non-alcoholic Beverages Financials FY2017–FY2026

National Beverage's revenue fell 1.7% to $1.2 billion in fiscal 2026. Its operating margin was 19.5%, down from 19.6% a year earlier. Free cash flow was $156 million, down 8.4%. It paid out $1 million in dividends and buybacks, 0% of free cash flow.

Last close · Oct 23, 2026

$36.15

2.5%
Value it Compare
Revenue Total sales reported in the income statement.
$1.2B
1.7% vs prior year
Operating margin Operating income as a share of revenue.
19.5%
0.1 pts
Net income Profit after all expenses, interest and tax.
$184M
1.7%
Free cash flow Cash from operations minus capital spending.
$156M
8.4%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
65.5%
9.0 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$3.4B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
19.4x
On $1.86 EPS (TTM)

About these figures. Share counts and per-share figures for earlier years are restated for a stock split (2-for-1), so every year is on today's share basis.

What National Beverage does

No business description yet.

Legal name
National Beverage Corp.
Fiscal year ends
May 2, 2026
Latest annual report
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Accession · CIK
0001437749-26-022315
0000069891

Revenue and margins

National Beverage had $1.2B of revenue in fiscal 2026, down 1.7% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2017 to 2026, diluted EPS grew 6.1% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $156M in fiscal 2026, 13.2% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

National Beverage returned $0.7M to shareholders in fiscal 2026, 0% of free cash flow. The diluted share count fell 0.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value National Beverage yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of $350M and divides by 93.7M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 19.4x · peers 28.4x · sector 24.7x.

Balance sheet

Cash, debt and the ratios that show how comfortably National Beverage can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $48.0M$158M$327M$194M$350M
Debt incl. finance leases $30.0M$0.0M$0.0M$0.0M$0.0M
Net debt / EBITDA −0.1x−0.8x−1.4x−0.8x−1.4x
Debt / equity 0.1x0.0x0.0x0.0x0.0x
Interest coverage 560.3x592.7x958.4x2,029.8x827.7x
Current ratio 1.9x2.5x3.9x2.9x4.4x
Quick ratio 1.2x1.9x3.3x2.3x3.7x
Total assets $468M$574M$770M$673M$852M
Total liabilities $228M$202M$211M$229M$216M
Shareholders' equity $239M$373M$560M$444M$636M
Net debt (− = net cash) −$18.0M−$158M−$327M−$194M−$350M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

1 insider

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

DateInsiderTradeSharesPriceValueFiling
Jul 20, 2026 Glenn J. WaldmanDirector Bought 250 $31.78 $0.0M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✕
Debt fell relative to assets ✕ ✕ ✕
Current ratio rose ✓ ✕ ✓
Share count didn't rise ✕ ✕ ✓
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✕ ✕ ✓
F-score 6 / 94 / 97 / 9
Accruals ratio −3.2%−2.8%0.3%
Altman Z'' 10.369.0110.74

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
National Beverage FIZZ $3.4B −1.7% 19.5% 13.2% 65.5% 19.4x 7
Vita Coco COCO $3.4B 18.2% 13.5% 6.4% 55.3% 28.4x 5 Compare →
Celsius CELH $7.3B 85.5% 5.6% 12.9% 25.1% 123.8x 5 Compare →
Coca-Cola Consolidated COKE — 4.8% 13.2% 8.6% 39.7% — — Compare →
Monster Beverage MNST $45.7B 10.7% 29.2% 23.7% 36.1% 21.4x 9 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $827M $976M $1.0B $1.0B $1.1B $1.1B $1.2B $1.2B $1.2B $1.2B
Gross profit $326M $391M $384M $370M $422M $418M $397M $429M $444M $437M
Operating income — $204M $180M $166M $228M $208M $187M $219M $236M $230M
Interest expense $0.2M $0.2M $0.2M $0.1M $0.1M $0.4M $0.3M $0.2M $0.1M $0.3M
Pretax income $163M $206M $184M $170M $228M $208M $186M $230M $245M $241M
Income tax $55.8M $55.7M $43.0M $39.5M $54.0M $49.1M $44.3M $53.1M $57.7M $56.9M
Net income $107M $150M $141M $130M $174M $159M $142M $177M $187M $184M
Diluted EPS $1.15 $1.59 $1.50 $1.39 $1.86 $1.69 $1.52 $1.89 $1.99 $1.96
Diluted shares 0.09B 0.09B 0.09B 0.09B 0.09B 0.09B 0.09B 0.09B 0.09B 0.09B
Cash flow
Cash from operations $114M $155M $139M $178M $194M $133M $162M $198M $207M $181M
Capital expenditure $14.0M $32.0M $38.3M $23.9M $25.3M $29.0M $22.0M $30.3M $36.3M $25.1M
Free cash flow $100M $123M $101M $154M $168M $104M $140M $168M $170M $156M
Depreciation and amortization $12.8M $13.2M $15.4M $17.2M $18.1M $18.5M $20.0M $20.2M $20.8M $22.7M
Stock-based compensation $0.2M $0.2M $0.3M $0.1M $0.5M $0.7M $0.7M $0.9M $0.6M $0.4M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $6.2M $0.0M $0.0M $0.0M $0.0M $0.0M $0.7M
Dividends paid $69.8M $69.9M $135M $0.0M $280M $280M $0.0M $0.0M $304M $0.0M
Dividends and buybacks $69.9M $69.9M $135M $6.2M $280M $280M $0.0M $0.0M $304M $0.7M
Balance sheet
Cash and short-term investments $136M $190M $156M $305M $194M $48.0M $158M $327M $194M $350M
Total debt — — — — $0.0M $30.0M $0.0M $0.0M $0.0M $0.0M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $268M $353M $322M $461M $365M $275M $366M $537M $407M $593M
Current liabilities $87.2M $105M $97.0M $142M $147M $145M $144M $138M $141M $135M
Inventory $53.4M $60.9M $70.7M $63.5M $71.5M $103M $93.6M $84.6M $85.1M $95.5M
Property and equipment, net $65.1M $85.8M $111M $121M $131M $144M $148M $160M $176M $182M
Total assets $354M $459M $452M $649M $557M $468M $574M $770M $673M $852M
Total liabilities $108M $127M $121M $196M $201M $228M $202M $211M $229M $216M
Shareholders' equity $246M $331M $332M $452M $356M $239M $373M $560M $444M $636M
Margins
Gross margin 39.4% 40.1% 37.9% 37.0% 39.3% 36.7% 33.8% 36.0% 37.0% 37.0%
Operating margin — 20.9% 17.7% 16.6% 21.3% 18.3% 15.9% 18.3% 19.6% 19.5%
EBITDA margin 21.3% 22.3% 19.3% 18.3% 22.9% 19.9% 17.6% 20.0% 21.3% 21.4%
Net margin 13.0% 15.4% 13.9% 13.0% 16.2% 13.9% 12.1% 14.8% 15.6% 15.6%
FCF margin 12.1% 12.6% 10.0% 15.4% 15.7% 9.2% 11.9% 14.1% 14.2% 13.2%
Returns
Return on capital — — — — — 82.7% 65.3% 75.2% 74.5% 65.5%
Return on capital employed 65.6% 65.8% 50.7% 38.5% 49.7% 56.8% 49.6% 41.1% 40.4% 36.9%
Return on equity 47.4% 51.9% 42.5% 33.2% 43.1% 53.2% 46.5% 37.9% 37.2% 34.0%
Return on assets 32.5% 36.9% 30.9% 23.6% 28.9% 30.9% 27.3% 26.3% 25.9% 24.1%
Growth
Revenue growth 17.3% 18.0% 3.9% −1.4% 7.2% 6.1% 3.1% 1.6% 0.8% −1.7%
Net income growth 74.9% 39.9% −6.0% −7.7% 34.0% −9.0% −10.3% 24.3% 5.7% −1.7%
EPS growth 74.8% 39.3% −6.0% −7.3% 33.8% −9.1% −10.1% 24.3% 5.3% −1.5%
FCF growth 46.7% 22.4% −17.6% 52.1% 9.5% −38.2% 34.2% 20.0% 1.7% −8.4%
Share count change 0.2% 0.3% −0.0% −0.2% −0.0% −0.0% 0.0% 0.0% 0.1% −0.0%
Financial health
Net debt / EBITDA — — — — −0.8x −0.1x −0.8x −1.4x −0.8x −1.4x
Debt / equity — — — — 0.0x 0.1x 0.0x 0.0x 0.0x 0.0x
Interest coverage 862.5x 1,015.9x 890.8x 3,249.9x 1,539.4x 560.3x 592.7x 958.4x 2,029.8x 827.7x
Current ratio 3.1x 3.4x 3.3x 3.3x 2.5x 1.9x 2.5x 3.9x 2.9x 4.4x
Quick ratio 2.5x 2.8x 2.6x 2.8x 2.0x 1.2x 1.9x 3.3x 2.3x 3.7x
Capital allocation
Capex / revenue 1.7% 3.3% 3.8% 2.4% 2.4% 2.6% 1.9% 2.5% 3.0% 2.1%
Stock comp / revenue 0.0% 0.0% 0.0% 0.0% 0.0% 0.1% 0.1% 0.1% 0.1% 0.0%
Payouts / FCF 69.7% 56.9% 133.8% 4.1% 166.1% 268.9% 0.0% 0.0% 178.5% 0.4%
Quality scores
Piotroski F-score — — — — — 5.0 7.0 6.0 4.0 7.0
Altman Z'' 10.9 11.5 6.6 9.6 9.1 7.4 8.7 10.4 9.0 10.7
Accruals ratio −2.2% −1.2% 0.3% −8.7% −3.3% 5.0% −3.7% −3.2% −2.8% 0.3%

Source: SEC EDGAR XBRL filings (CIK 0000069891). Data updated October 20, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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