National Beverage (FIZZ) AI Stock Analysis

• Market Cap: $3.05B
• Dividend Yield: N/A
• Average Volume (3M): 442.34K
• Price to Earnings (P/E): 16.4
• Beta (1Y): 0.19
• Revenue Growth: 0.97%
• EPS Growth: 0.36%
• Country: US
• Employees: 1,559
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Beverages - Non-Alcoholic
• EPS (TTM): 0.49
• Shares Outstanding: 93,632,100
• 10 Day Avg. Volume: 388,407
• 30 Day Avg. Volume: 442,341
• PEG Ratio: 3.82
• Price to Book (P/B): 9.36
• Price to Sales (P/S): 3.46
• P/FCF Ratio: 24.39
• Enterprise Value/Market Cap: 1.36
• Enterprise Value/Revenue: 3.46
• Enterprise Value/Gross Profit: 9.30
• Enterprise Value/Ebitda: 16.47
• 1Y Price Target: $35.00
• Price Target Upside: -3.90% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: $37.00 ▲(1.59% Upside)

National Beverage's strong financial performance and strategic stock buyback program are significant positives. However, technical indicators suggest bearish momentum, and the lack of a dividend yield may deter some investors. Overall, the stock presents a balanced risk-reward profile.

Positive Factors

Revenue Growth

Consistent revenue growth reflects strong market demand and effective product positioning, supporting long-term business expansion.

Cash Generation

Strong cash generation enhances financial flexibility, allowing for strategic investments and shareholder returns.

Stock Buyback Program

The buyback program signals management's confidence in financial health and enhances shareholder value through capital return.

Negative Factors

Cash Management Concerns

Decreased cash reserves may limit the company's ability to invest in growth opportunities or weather economic downturns.

Equity Ratio Decline

A declining equity ratio indicates increased financial leverage, which could heighten risk during economic volatility.

Geopolitical Headwinds

Ongoing geopolitical issues could affect consumer spending and supply chains, challenging revenue and profit margins.

National Beverage Business Overview & Revenue Model

Company Description

National Beverage Corp. (NASDAQ: FIZZ) is a leading producer and marketer of flavored soft drinks and sparkling waters in the United States. The company operates primarily in the non-alcoholic beverage sector, offering a diverse range of products under well-known brands such as LaCroix, Shasta, and Faygo. National Beverage focuses on delivering innovative beverage options that cater to health-conscious consumers, including zero-calorie and naturally flavored drinks, while maintaining a strong commitment to quality and sustainability.

How the Company Makes Money

National Beverage generates revenue through the sale of its wide array of beverage products, primarily targeting retail channels such as supermarkets, convenience stores, and mass merchandisers. The company's revenue model is largely driven by the volume of products sold, with key revenue streams coming from its established brands like LaCroix, which has gained significant popularity among consumers seeking healthier alternatives to traditional soft drinks. Additionally, National Beverage benefits from partnerships with distributors and retailers, allowing for enhanced market penetration and product visibility. The company's ability to innovate and expand its product offerings further contributes to its earnings, as it adapts to changing consumer preferences and market trends.

National Beverage Financial Statement Overview

Summary

National Beverage demonstrates strong financial performance with robust revenue growth and improved profit margins. The company maintains a healthy debt-to-equity ratio and shows efficient use of equity. However, there are minor concerns regarding cash management due to a recent decline in cash reserves.

Income Statement

National Beverage shows strong revenue growth with a steady increase from $1,000 million in 2020 to $1,201 million in 2025, reflecting a positive growth trajectory. The gross profit margin is robust, maintaining above 36% consistently. The net profit margin improved from 12.97% in 2020 to 15.55% in 2025, indicating enhanced profitability. However, EBIT margin shows minor fluctuations, suggesting some variability in operating efficiency.

Balance Sheet

The company maintains a healthy debt-to-equity ratio, remaining below 0.2, showcasing prudent financial leverage. The return on equity increased from 28.74% in 2020 to 42.09% in 2025, indicating efficient use of equity. However, the equity ratio declined from 69.76% in 2020 to 65.99% in 2025, suggesting a slight increase in leverage over the years.

Cash Flow

Free cash flow shows consistent growth, demonstrating the company's ability to generate cash effectively. The operating cash flow to net income ratio remains strong, suggesting good cash generation relative to net income. However, a decline in cash and equivalents from 2024 to 2025 indicates potential cash management concerns.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.20B	1.20B	1.19B	1.17B	1.14B	1.07B
Gross Profit	446.97M	443.94M	428.45M	396.79M	417.81M	421.62M
EBITDA	252.39M	256.26M	238.67M	219.97M	239.40M	258.98M
Net Income	185.80M	186.82M	176.73M	142.16M	158.51M	174.15M
Balance Sheet
Total Assets	737.76M	672.86M	770.15M	574.34M	467.80M	557.24M
Cash, Cash Equivalents and Short-Term Investments	249.83M	193.84M	327.05M	158.07M	48.05M	193.59M
Total Debt	69.90M	72.12M	54.77M	41.53M	61.25M	43.64M
Total Liabilities	233.63M	228.86M	210.64M	201.85M	228.37M	201.24M
Stockholders Equity	504.13M	444.00M	559.51M	372.49M	239.44M	356.00M
Cash Flow
Free Cash Flow	172.61M	170.41M	167.61M	139.69M	104.12M	168.46M
Operating Cash Flow	208.29M	206.70M	197.91M	161.66M	133.13M	193.77M
Investing Cash Flow	-35.66M	-36.27M	-30.25M	-21.95M	-29.00M	-25.31M
Financing Cash Flow	170.00K	-303.63M	1.31M	-29.69M	-249.67M	-279.38M

National Beverage Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 36.42
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FIZZ, the sentiment is Negative. The current price of 36.42 is above the 20-day moving average (MA) of 34.12, above the 50-day MA of 34.36, and below the 200-day MA of 40.88, indicating a bearish trend. The MACD of -0.31 indicates Positive momentum. The RSI at 39.89 is Neutral, neither overbought nor oversold. The STOCH value of 14.26 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FIZZ.

National Beverage Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AKO.A	75 Outperform	$3.93B	13.17	25.18%	4.82%	18.92%	34.03%
KOF	74 Outperform	$4.82B	16.02	16.18%	4.15%	-2.81%	-2.66%
COCO	74 Outperform	$2.92B	45.39	24.02%	―	23.12%	16.20%
COKE	72 Outperform	$13.98B	25.31	41.92%	0.60%	4.22%	22.24%
FIZZ	70 Outperform	$3.05B	16.35	40.93%	―	0.97%	0.36%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
ZVIA	54 Neutral	$189.76M	-11.35	-23.12%	―	6.17%	41.09%

National Beverage Corporate Events

National Beverage Announces Stock Buyback Program

On October 30, 2025, National Beverage Corp. announced the commencement of a stock buyback program amidst challenging market conditions, including geopolitical headwinds and reduced consumer purchasing. Despite these challenges, the company remains confident in its strong financial position and ability to pursue opportunities to enhance shareholder returns, believing that current trading prices do not reflect its true value.

National Beverage Elects New Director at Annual Meeting

On October 3, 2025, National Beverage Corp. held its Annual Meeting of Shareholders where the election of two Class II Directors took place. Mr. Stanley M. Sheridan was re-elected and Mr. Glenn J. Waldman was newly elected, following the retirement announcement of Cecil D. Conlee, who served on the board since 2009 and decided not to stand for reelection.