National Beverage Corp Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
National Beverage Corp has an operating margin of 19.6%, meaning the company retains $20 of operating profit per $100 of revenue. This strong profitability earns a score of 98/100, reflecting efficient cost management and pricing power. This is up from 18.3% the prior year.
National Beverage Corp's revenue grew a modest 0.8% year-over-year to $1.2B. This slow but positive growth earns a score of 31/100.
National Beverage Corp carries a low D/E ratio of 0.46, meaning only $0.46 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.24, National Beverage Corp holds $3.24 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
National Beverage Corp converts 14.2% of revenue into free cash flow ($170.4M). This strong cash generation earns a score of 71/100.
National Beverage Corp earns a strong 37.1% return on equity (ROE), meaning it generates $37 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is down from 57.6% the prior year.
National Beverage Corp scores 12.86, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($3.4B) relative to total liabilities ($233.6M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
National Beverage Corp passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, National Beverage Corp generates $1.11 in operating cash flow ($206.7M OCF vs $186.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
This page shows National Beverage Corp (FIZZ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
National Beverage Corp generated $1.2B in revenue in fiscal year 2025. This represents an increase of 0.8% from the prior year.
National Beverage Corp's EBITDA was $256.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 7.4% from the prior year.
National Beverage Corp generated $170.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 1.7% from the prior year.
National Beverage Corp reported $186.8M in net income in fiscal year 2025. This represents an increase of 5.7% from the prior year.
National Beverage Corp earned $1.99 per diluted share (EPS) in fiscal year 2025. This represents an increase of 5.3% from the prior year.
National Beverage Corp held $249.8M in cash against $0 in long-term debt as of fiscal year 2025.
National Beverage Corp had 94M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.
National Beverage Corp's gross margin was 37.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.0 percentage points from the prior year.
National Beverage Corp's operating margin was 19.6% in fiscal year 2025, reflecting core business profitability. This is up 1.3 percentage points from the prior year.
National Beverage Corp's net profit margin was 15.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.7 percentage points from the prior year.
National Beverage Corp's ROE was 37.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 20.6 percentage points from the prior year.
National Beverage Corp invested $36.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 19.7% from the prior year.
FIZZ Income Statement
| Metric | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $288.3M-12.8% | $330.5M+23.8% | $267.1M-8.3% | $291.2M-11.6% | $329.5M+22.0% | $270.1M-10.0% | $300.1M-7.5% | $324.2M |
| Cost of Revenue | $179.1M-12.6% | $205.1M+22.0% | $168.1M-7.6% | $181.9M-12.2% | $207.0M+19.7% | $173.0M-10.0% | $192.2M-8.4% | $209.8M |
| Gross Profit | $109.2M-13.0% | $125.5M+26.8% | $99.0M-9.5% | $109.4M-10.7% | $122.4M+26.2% | $97.0M-10.0% | $107.9M-5.8% | $114.5M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $51.1M-6.5% | $54.7M+13.1% | $48.4M-6.0% | $51.5M-2.7% | $52.9M+8.3% | $48.9M-8.8% | $53.6M+4.2% | $51.4M |
| Operating Income | $58.0M-18.0% | $70.8M+39.9% | $50.6M-12.6% | $57.9M-16.8% | $69.5M+44.3% | $48.2M-11.3% | $54.3M-14.0% | $63.1M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $14.3M-16.9% | $17.3M+39.9% | $12.3M-11.7% | $14.0M-18.3% | $17.1M+61.8% | $10.6M-20.2% | $13.2M-14.9% | $15.5M |
| Net Income | $46.4M-16.9% | $55.8M+40.7% | $39.6M-13.1% | $45.6M-19.6% | $56.8M+43.4% | $39.6M-9.6% | $43.8M-11.8% | $49.6M |
| EPS (Diluted) | $0.49-18.3% | $0.60+42.9% | $0.42-14.3% | $0.49-19.7% | $0.61+45.2% | $0.42-10.6% | $0.47-99.1% | $53.00 |
FIZZ Balance Sheet
| Metric | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $749.0M+1.5% | $737.8M+24.2% | $594.0M+6.6% | $557.4M+6.7% | $522.6M-27.4% | $719.9M+7.0% | $672.9M+5.1% | $640.4M |
| Current Assets | $491.4M+3.2% | $476.1M+35.0% | $352.6M+8.5% | $324.9M+10.8% | $293.2M-40.1% | $489.1M+7.2% | $456.5M+5.8% | $431.5M |
| Cash & Equivalents | $269.3M+7.8% | $249.8M+67.4% | $149.2M+32.2% | $112.8M+46.5% | $77.0M-72.2% | $277.0M+11.8% | $247.7M+11.2% | $222.8M |
| Inventory | $95.9M+2.1% | $93.9M+10.4% | $85.0M-6.6% | $91.0M+0.5% | $90.6M+2.2% | $88.7M-4.4% | $92.8M-0.2% | $93.0M |
| Accounts Receivable | $93.2M-12.5% | $106.5M+17.2% | $90.9M-8.7% | $99.6M-14.2% | $116.0M+14.1% | $101.7M+1.5% | $100.2M-6.9% | $107.7M |
| Goodwill | $13.1M0.0% | $13.1M0.0% | $13.1M0.0% | $13.1M0.0% | $13.1M0.0% | $13.1M0.0% | $13.1M0.0% | $13.1M |
| Total Liabilities | $197.7M-15.4% | $233.6M+20.6% | $193.8M-1.8% | $197.3M-8.6% | $216.0M+3.0% | $209.7M+1.9% | $205.7M-5.8% | $218.3M |
| Current Liabilities | $114.7M-21.9% | $146.9M+22.8% | $119.6M-6.6% | $128.1M-13.1% | $147.5M+10.8% | $133.1M-6.6% | $142.6M-9.1% | $156.8M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 |
| Total Equity | $551.3M+9.3% | $504.1M+26.0% | $400.2M+11.1% | $360.1M+17.5% | $306.6M-39.9% | $510.2M+9.2% | $467.2M+10.7% | $422.1M |
| Retained Earnings | $519.9M+9.8% | $473.5M+27.0% | $373.0M+11.9% | $333.3M+15.9% | $287.7M-41.4% | $491.4M+8.8% | $451.8M+10.7% | $408.0M |
FIZZ Cash Flow Statement
| Metric | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $25.7M-56.5% | $59.1M+27.0% | $46.5M+9.3% | $42.6M-25.9% | $57.5M+62.4% | $35.4M+10.9% | $31.9M-54.5% | $70.1M |
| Capital Expenditures | $5.8M+87.6% | $3.1M-69.7% | $10.2M+47.7% | $6.9M+86.5% | $3.7M-44.7% | $6.7M-8.0% | $7.3M+33.1% | $5.5M |
| Free Cash Flow | $19.9M-64.5% | $56.0M+54.1% | $36.3M+1.8% | $35.7M-33.7% | $53.8M+87.4% | $28.7M+16.5% | $24.6M-61.9% | $64.7M |
| Investing Cash Flow | -$5.8M-87.7% | -$3.1M+69.7% | -$10.2M-47.8% | -$6.9M-86.5% | -$3.7M+44.6% | -$6.7M+8.2% | -$7.3M-33.7% | -$5.4M |
| Financing Cash Flow | -$422K | $0-100.0% | $58K-48.2% | $112K+100.0% | -$303.8M-54061.5% | $563K+102.5% | $278K | $0 |
| Dividends Paid | $0 | $0 | $0 | $0-100.0% | $304.1M | $0 | $0 | $0 |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
FIZZ Financial Ratios
| Metric | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.9%-0.1pp | 38.0%+0.9pp | 37.0%-0.5pp | 37.5%+0.4pp | 37.2%+1.2pp | 35.9%0.0pp | 35.9%+0.6pp | 35.3% |
| Operating Margin | 20.1%-1.3pp | 21.4%+2.5pp | 18.9%-0.9pp | 19.9%-1.2pp | 21.1%+3.3pp | 17.8%-0.3pp | 18.1%-1.4pp | 19.5% |
| Net Margin | 16.1%-0.8pp | 16.9%+2.0pp | 14.8%-0.8pp | 15.7%-1.6pp | 17.2%+2.6pp | 14.7%+0.1pp | 14.6%-0.7pp | 15.3% |
| Return on Equity | 8.4%-2.7pp | 11.1%+1.2pp | 9.9%-2.8pp | 12.7%-5.8pp | 18.5%+10.8pp | 7.8%-1.6pp | 9.4%-2.4pp | 11.8% |
| Return on Assets | 6.2%-1.4pp | 7.6%+0.9pp | 6.7%-1.5pp | 8.2%-2.7pp | 10.9%+5.4pp | 5.5%-1.0pp | 6.5%-1.2pp | 7.8% |
| Current Ratio | 4.28+1.0 | 3.24+0.3 | 2.95+0.4 | 2.54+0.5 | 1.99-1.7 | 3.68+0.5 | 3.20+0.5 | 2.75 |
| Debt-to-Equity | 0.36-0.1 | 0.46-0.0 | 0.48-0.1 | 0.55-0.2 | 0.70+0.3 | 0.41-0.0 | 0.44-0.1 | 0.52 |
| FCF Margin | 6.9%-10.0pp | 16.9%+3.3pp | 13.6%+1.4pp | 12.3%-4.1pp | 16.3%+5.7pp | 10.6%+2.4pp | 8.2%-11.7pp | 19.9% |
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Frequently Asked Questions
What is National Beverage Corp's annual revenue?
National Beverage Corp (FIZZ) reported $1.2B in total revenue for fiscal year 2025. This represents a 0.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is National Beverage Corp's revenue growing?
National Beverage Corp (FIZZ) revenue grew by 0.8% year-over-year, from $1.2B to $1.2B in fiscal year 2025.
Is National Beverage Corp profitable?
Yes, National Beverage Corp (FIZZ) reported a net income of $186.8M in fiscal year 2025, with a net profit margin of 15.6%.
What is National Beverage Corp's earnings per share (EPS)?
National Beverage Corp (FIZZ) reported diluted earnings per share of $1.99 for fiscal year 2025. This represents a 5.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is National Beverage Corp's EBITDA?
National Beverage Corp (FIZZ) had EBITDA of $256.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is National Beverage Corp's gross margin?
National Beverage Corp (FIZZ) had a gross margin of 37.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is National Beverage Corp's operating margin?
National Beverage Corp (FIZZ) had an operating margin of 19.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is National Beverage Corp's net profit margin?
National Beverage Corp (FIZZ) had a net profit margin of 15.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is National Beverage Corp's return on equity (ROE)?
National Beverage Corp (FIZZ) has a return on equity of 37.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is National Beverage Corp's free cash flow?
National Beverage Corp (FIZZ) generated $170.4M in free cash flow during fiscal year 2025. This represents a 1.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is National Beverage Corp's operating cash flow?
National Beverage Corp (FIZZ) generated $206.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are National Beverage Corp's total assets?
National Beverage Corp (FIZZ) had $737.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are National Beverage Corp's capital expenditures?
National Beverage Corp (FIZZ) invested $36.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How many shares does National Beverage Corp have outstanding?
National Beverage Corp (FIZZ) had 94M shares outstanding as of fiscal year 2025.
What is National Beverage Corp's current ratio?
National Beverage Corp (FIZZ) had a current ratio of 3.24 as of fiscal year 2025, which is generally considered healthy.
What is National Beverage Corp's debt-to-equity ratio?
National Beverage Corp (FIZZ) had a debt-to-equity ratio of 0.46 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is National Beverage Corp's return on assets (ROA)?
National Beverage Corp (FIZZ) had a return on assets of 25.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is National Beverage Corp's Altman Z-Score?
National Beverage Corp (FIZZ) has an Altman Z-Score of 12.86, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is National Beverage Corp's Piotroski F-Score?
National Beverage Corp (FIZZ) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are National Beverage Corp's earnings high quality?
National Beverage Corp (FIZZ) has an earnings quality ratio of 1.11x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is National Beverage Corp?
National Beverage Corp (FIZZ) scores 82 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.