FIZZ

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National Beverage Corp.

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Key Metrics

Previous Close: $29.69
52-Week Range: $28.97 – $38.21
Market Cap: $2.84B
P/E (TTM): 16.30
EPS (TTM): 1.86
Dividend Yield: 0.00%

Advanced Metrics

Price/Book: 7.62
PEG Ratio: 4.03
Return on Equity: 40.12%
Return on Assets: 20.63%
Gross Margin: 36.22%
Operating Margin: 17.69%
Profit Margin: 14.81%
Current Ratio: 2.39
Debt/Equity: 0.16
Total Debt: $58.77M
Free Cash Flow: $131.42M
Revenue Growth: 0.00%
Earnings Growth: -16.10%
Enterprise Value: $2.79B

FIZZ Income statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Revenue	$1.17B	$1.19B	$1.20B	$1.18B
Cost of Revenue	$776.14M	$763.24M	$757.41M	$743.29M
Gross Profit	$396.79M	$428.45M	$443.94M	$437.26M
Selling, General & Admin	$210.10M	$209.94M	$208.48M	$207.15M
Operating Expenses	$210.10M	$209.94M	$208.48M	$207.15M
Operating Income	$186.68M	$218.51M	$235.46M	$230.11M
EBITDA	$206.72M	$238.67M	$256.26M	$252.78M
Pretax Income	$186.44M	$229.85M	$244.56M	$240.57M
Income Tax	$44.28M	$53.12M	$57.74M	$56.92M
Net Income	$142.16M	$176.73M	$186.82M	$183.65M
Diluted EPS	1.52	1.89	1.99	1.96
Diluted Shares	93.61M	93.63M	93.69M	93.67M

FIZZ Balance Sheet statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Cash & Equivalents	$158.07M	$327.05M	$193.84M	$349.54M
Receivables	$104.92M	$102.84M	$104.16M	$104.30M
Inventory	$93.58M	$84.60M	$85.11M	$95.52M
Current Assets	$366.40M	$536.87M	$406.93M	$593.06M
Total Assets	$574.34M	$770.15M	$672.86M	$851.65M
Current Liabilities	$144.32M	$137.93M	$140.50M	$135.21M
Total Debt	$41.53M	$54.77M	$72.12M	$58.94M
Total Liabilities	$201.85M	$210.64M	$228.86M	$215.93M
Retained Earnings	$358.35M	$535.08M	$417.75M	$601.40M
Shareholders' Equity	$372.49M	$559.51M	$444.00M	$635.71M
Working Capital	$222.08M	$398.94M	$266.43M	$457.85M

FIZZ Cash Flow statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Operating Cash Flow	$161.66M	$197.91M	$206.70M	$181.25M
Capital Expenditure	-$21.98M	-$30.30M	-$36.28M	-$25.14M
Free Cash Flow	$139.69M	$167.61M	$170.41M	$156.11M
Depreciation & Amortisation	$20.04M	$20.16M	$20.80M	$22.68M
Stock-Based Compensation	$677.00K	$881.00K	$606.00K	$439.00K
Investing Cash Flow	-$21.95M	-$30.25M	-$36.27M	-$25.12M
Financing Cash Flow	-$29.69M	$1.31M	-$303.63M	-$422.00K
Dividends Paid	$0.00	$0.00	-$304.15M	$0.00
Share Repurchases	—	$0.00	$0.00	-$673.00K
Net Change in Cash	$110.02M	$168.97M	-$133.21M	$155.71M

FIZZ Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Revenue	$313.63M	$330.51M	$288.33M	$264.59M	$297.12M	$330.66M
Cost of Revenue	$200.42M	$205.05M	$179.15M	$164.98M	$194.11M	$214.87M
Gross Profit	$113.21M	$125.46M	$109.19M	$99.60M	$103.01M	$115.79M
Selling, General & Admin	$55.71M	$54.69M	$51.14M	$48.46M	$52.87M	$57.31M
Operating Expenses	$55.71M	$54.69M	$51.14M	$48.46M	$52.87M	$57.31M
Operating Income	$57.50M	$70.78M	$58.05M	$51.15M	$50.14M	$58.48M
EBITDA	$62.98M	$76.18M	$63.63M	$56.76M	$56.22M	$64.80M
Pretax Income	$59.13M	$73.01M	$60.70M	$53.94M	$52.92M	$61.66M
Income Tax	$14.37M	$17.25M	$14.34M	$12.73M	$12.60M	$14.66M
Net Income	$44.76M	$55.76M	$46.36M	$41.21M	$40.32M	$47.00M
Diluted EPS	—	0.60	0.49	0.44	—	0.50
Diluted Shares	—	93.70M	93.68M	93.64M	—	93.66M

FIZZ Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Cash & Equivalents	$193.84M	$249.83M	$269.31M	$313.97M	$349.54M	$107.10M
Receivables	$104.16M	$106.50M	$93.16M	$97.43M	$104.30M	$105.77M
Inventory	$85.11M	$93.92M	$95.87M	$96.10M	$95.52M	$100.44M
Current Assets	$406.93M	$476.13M	$491.44M	$538.04M	$593.06M	$327.55M
Total Assets	$672.86M	$737.76M	$748.97M	$792.47M	$851.65M	$582.27M
Current Liabilities	$140.50M	$146.88M	$114.69M	$122.07M	$135.21M	$136.93M
Total Debt	$72.12M	$69.90M	$66.19M	$62.67M	$58.94M	$58.77M
Total Liabilities	$228.86M	$233.63M	$197.72M	$201.41M	$215.93M	$214.56M
Retained Earnings	$417.75M	$473.51M	$519.87M	$561.08M	$601.40M	$344.15M
Shareholders' Equity	$444.00M	$504.13M	$551.26M	$591.06M	$635.71M	$367.70M
Working Capital	$266.43M	$329.25M	$376.75M	$415.97M	$457.85M	$190.62M

FIZZ Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Operating Cash Flow	$60.08M	$59.09M	$25.71M	$50.92M	$45.53M	$64.85M
Capital Expenditure	-$15.47M	-$3.10M	-$5.81M	-$6.30M	-$9.94M	-$3.07M
Free Cash Flow	$44.61M	$55.99M	$19.91M	$44.63M	$35.58M	$61.78M
Depreciation & Amortisation	$5.48M	$5.41M	$5.59M	$5.61M	$6.08M	$6.32M
Stock-Based Compensation	$141.00K	$135.00K	$112.00K	$96.00K	$96.00K	$87.00K
Investing Cash Flow	-$15.46M	-$3.09M	-$5.81M	-$6.27M	-$9.96M	-$3.07M
Financing Cash Flow	$0.00	$0.00	-$422.00K	$0.00	$0.00	-$304.22M
Dividends Paid	$0.00	$0.00	$0.00	$0.00	$0.00	-$304.25M
Share Repurchases	—	—	—	$0.00	$0.00	—
Net Change in Cash	$44.61M	$56.00M	$19.48M	$44.66M	$35.57M	-$242.44M

Market Snapshot

About

National Beverage Corp. is a manufacturer and distributor of flavored beverage products with a portfolio that includes iconic brands such as LaCroix sparkling water, Shasta soft drinks, and Faygo beverages. The company has capitalized on consumer trends favoring flavored sparkling water and health-conscious alternatives to traditional soft drinks, with LaCroix becoming a particularly strong performer in the premium sparkling water category. National Beverage operates manufacturing and distribution facilities across North America and sells products through multiple retail channels including grocery, mass merchandise, club stores, and convenience stores. The company is known for its entrepreneurial culture and focus on innovation in natural and flavored beverage categories.