Splash Beverage Group (SBEV) AI Stock Analysis

• Market Cap: $1.35M
• Dividend Yield: N/A
• Average Volume (3M): 3.65M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.19
• Revenue Growth: -83.63%
• EPS Growth: 65.38%
• Country: US
• Employees: 32
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Beverages - Alcoholic
• EPS (TTM): -4.51
• Shares Outstanding: 3,051,423
• 10 Day Avg. Volume: 5,591,683
• 30 Day Avg. Volume: 3,647,912
• PEG Ratio: >-0.01
• Price to Book (P/B): -0.46
• Price to Sales (P/S): 2.07
• P/FCF Ratio: -1.08
• Enterprise Value/Market Cap: 5.50
• Enterprise Value/Revenue: 7.27
• Enterprise Value/Gross Profit: -4.31
• Enterprise Value/Ebitda: -0.30
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -13.2
• Revenue Forecast (FY): $17.89M

• Rating: 42 Neutral
• Price Target: $0.66 ▼(-10.27% Downside)
• Action: Upgraded Date: 01/28/26
• Date: Action: Upgraded 01/28/26

The score is held down primarily by very weak financial performance (sharp TTM revenue contraction, negative gross profit, large losses, and ongoing cash burn). Technicals also remain unfavorable with the stock below longer-term moving averages and a negative MACD. Valuation is constrained by losses and no dividend, while the recent positive distribution/branding event offers some upside but is not large enough to offset the core financial and trend risks.

Positive Factors

On‑premise brand validation

Securing Senor Frog’s as a house tequila gives Chispo on‑premise exposure to hundreds of thousands of guests annually, accelerating brand trial and awareness in experiential venues. This national hospitality placement plus production ties to ZB Distillery supports scalable supply and long‑term brand building.

Improved equity position

A return to positive equity reduces short‑term insolvency risk and provides a financial cushion against volatility. This improvement can enhance access to capital on more favorable terms, lengthen runway for strategic initiatives, and reduce the immediate likelihood of distress driven dilutive financings.

Capital structure move to limit dilution

Replacing equity issuance with a promissory note shifts near‑term investor compensation from shares to debt, limiting immediate dilution and preserving shareholder stakes. Over the medium term this helps maintain ownership incentives and supports confidence in executing long‑term brand and distribution strategies.

Negative Factors

Severe revenue contraction and negative gross margin

A near‑half revenue decline combined with negative gross profit signals structural issues in pricing, cost of goods, or demand for core products. Sustained negative gross margins erode any operating leverage, make profitability contingent on major strategic or operational fixes, and heighten risk of partner attrition or lost shelf space.

Persistent negative cash generation

Ongoing operating and free cash flow deficits force reliance on external financing, constraining investments in marketing, distribution, and product development. Continued cash burn increases refinancing and dilution risk, limits strategic flexibility, and raises the probability of high‑cost funding that impairs long‑term competitiveness.

Management turnover and costly short‑term financing

Executive departures alongside frequent, expensive financing signal governance and funding stress that can disrupt execution. Leadership turnover slows strategic initiatives and acquisition integrations, while high‑cost notes increase cash obligations, squeeze margins, and elevate the risk that future capital raises are dilutive or punitive.

Splash Beverage Group Business Overview & Revenue Model

Company Description

Splash Beverage Group, Inc. engages in the manufacturing, distribution, marketing, and sale of various beverages in the United States. Its products include flavored tequilas under the SALT Naturally Flavored Tequila name; hydration and recovery isotonic sport drink under the TapouT Performance name; wine under the Copa di Vino name; and Pulpoloco Sangria. The company also sells beverages and groceries online through qplash.com. Splash Beverage Group, Inc. is based in Fort Lauderdale, Florida.

How the Company Makes Money

Splash Beverage Group generates revenue primarily through the sale of its beverage products to retailers, distributors, and directly to consumers. Key revenue streams include wholesale distribution of their branded drinks, retail sales through partnerships with grocery stores, convenience stores, and bars, as well as e-commerce sales through their website and third-party platforms. The company benefits from strategic partnerships with distributors that enhance its market reach and visibility. Additionally, collaborations with marketing firms help to boost brand awareness and consumer engagement, driving further sales. Seasonal promotions and product launches also contribute to increased revenue during peak periods.

Splash Beverage Group Financial Statement Overview

Summary

Financial performance is very weak: revenue is down ~49% TTM, gross profit turned negative, losses are large across EBITDA/EBIT/net income, and operating cash flow/free cash flow remain negative—indicating an unsustainable cost structure and continued cash burn despite improved reported equity versus prior years.

Income Statement

Operating performance is very weak. Revenue has contracted sharply in TTM (Trailing-Twelve-Months) (down ~49% versus the prior period), and profitability deteriorated materially, with gross profit turning negative (implying the company is selling below cost before overhead). Losses remain large at every level (EBITDA, EBIT, and net income), and the net loss is outsized relative to sales, pointing to an unsustainable cost structure and significant execution risk.

Balance Sheet

Leverage looks moderate in TTM (Trailing-Twelve-Months) (debt is just under equity), and equity is positive in the latest period, which is a constructive shift versus prior years when equity was negative. However, the balance sheet has shown volatility (including periods of negative equity), and ongoing large losses raise the risk that equity could erode again or that additional financing may be required.

Cash Flow

Cash generation is weak and remains negative. TTM (Trailing-Twelve-Months) operating cash flow and free cash flow are both negative, and free cash flow declined meaningfully versus the prior period. While cash burn is smaller than the net loss in TTM (Trailing-Twelve-Months) (free cash flow is much less negative than net income), the company is still consuming cash rather than funding itself internally.

Breakdown	TTM	Dec 2024	Dec 2023	Mar 2023	Mar 2022	Dec 2020
Income Statement
Total Revenue	1.02M	4.16M	18.85M	18.09M	11.32M	2.30M
Gross Profit	-1.73M	355.45K	5.57M	5.92M	2.58M	363.59K
EBITDA	-25.00M	-15.84M	-14.76M	-20.45M	-28.67M	-17.47M
Net Income	-31.07M	-23.76M	-21.00M	-21.84M	-29.05M	-28.67M
Balance Sheet
Total Assets	22.49M	2.76M	9.90M	17.30M	16.39M	9.23M
Cash, Cash Equivalents and Short-Term Investments	265.67K	15.35K	379.98K	4.43M	4.18M	380.00K
Total Debt	6.28M	12.55M	9.35M	4.37M	5.04M	4.42M
Total Liabilities	15.71M	21.39M	15.50M	7.98M	7.51M	9.33M
Stockholders Equity	6.78M	-18.63M	-5.61M	9.32M	8.87M	-102.00K
Cash Flow
Free Cash Flow	-1.78M	-8.01M	-10.20M	-14.20M	-15.13M	-23.20M
Operating Cash Flow	-1.78M	-8.00M	-10.19M	-14.09M	-15.13M	-23.10M
Investing Cash Flow	7.97K	-3.23K	-14.11K	-102.70K	0.00	-780.25K
Financing Cash Flow	1.30M	7.54M	6.15M	14.45M	18.93M	22.49M

Splash Beverage Group Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.73
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SBEV, the sentiment is Negative. The current price of 0.73 is above the 20-day moving average (MA) of 0.53, below the 50-day MA of 0.74, and below the 200-day MA of 1.97, indicating a bearish trend. The MACD of -0.09 indicates Negative momentum. The RSI at 41.36 is Neutral, neither overbought nor oversold. The STOCH value of 39.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SBEV.

Splash Beverage Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CCU	70 Outperform	$2.63B	18.61	9.07%	2.53%	16.59%	1.72%
SAM	68 Neutral	$2.42B	22.35	12.31%	―	-1.13%	24.34%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
TAP	54 Neutral	$9.89B	-4.38	-18.35%	4.08%	-4.01%	-339.22%
SBEV	42 Neutral	$1.35M	-0.03	―	―	-83.63%	65.38%

Splash Beverage Group Corporate Events

Splash Beverage raises equity capital via stock issuance

On October 27, 2025, November 25, 2025, and December 11, 2025, Splash Beverage Group, Inc. issued a total of 360,648 shares of common stock following the conversion of $200,000 in convertible promissory notes, transactions that were conducted as exempt offerings under U.S. securities laws. On January 27, 2026, the company further bolstered its equity capital by selling 145,029 shares of common stock for gross proceeds of $98,170 under a previously disclosed equity line of credit agreement, reflecting ongoing use of capital markets to support its financing needs and adjust its balance sheet structure.

The most recent analyst rating on (SBEV) stock is a Sell with a $0.87 price target. To see the full list of analyst forecasts on Splash Beverage Group stock, see the SBEV Stock Forecast page.

Splash Beverage’s Chispo Tequila Chosen as Senor Frog’s House Brand

On January 27, 2026, Splash Beverage Group announced that Senor Frog’s, part of Mexico’s Grupo Anderson’s restaurant consortium, has selected Splash’s Chispo Tequila as its house tequila at an initial group of locations in Florida, the Bahamas and Mexico, following a competitive evaluation of premium and value tequilas focused on taste, consistency and broad consumer appeal. The partnership gives Chispo its first high-profile national hospitality platform, introducing the brand to hundreds of thousands of guests annually in high-traffic, experiential venues and providing important validation of its positioning as Splash seeks to scale the tequila through on-premise exposure, leverage Grupo Anderson’s broader portfolio for potential future collaboration, and support long-term growth via its production partnership with ZB Distillery in Jalisco, Mexico.

The most recent analyst rating on (SBEV) stock is a Hold with a $0.95 price target. To see the full list of analyst forecasts on Splash Beverage Group stock, see the SBEV Stock Forecast page.

Splash Beverage Amends Equity Line With New Note

On January 26, 2026, Splash Beverage Group, Inc. amended the structure of its existing equity line of credit facility with C/M Capital Master Fund, LP by entering into a Letter Agreement that replaces previously agreed “Commitment Shares” with a promissory note. Under this arrangement, the company issued a note with an initial principal amount of $525,000, potentially increasing to $700,000 based on sales under the equity line, bearing no interest unless a default occurs and maturing on January 26, 2028, with mandatory prepayments tied to future proceeds from the facility. The move shifts some of the investor’s compensation from equity to debt, which may mitigate shareholder dilution while obligating the company to use a portion of future capital raised through the facility to service the note, affecting its capital structure and cash flow priorities.

The most recent analyst rating on (SBEV) stock is a Sell with a $0.76 price target. To see the full list of analyst forecasts on Splash Beverage Group stock, see the SBEV Stock Forecast page.

Splash Beverage Group Files Certificate for Series D Shares

On December 5, 2025, Splash Beverage Group, Inc. entered into agreements to terminate certain options to purchase $600,000 of its common stock, issuing 113,636 shares of common stock and 1,136 shares of Series D Convertible Preferred Stock instead. Additionally, on December 9, 2025, the company filed a Certificate of Designations for 50,000 shares of Series D, which allows conversion into common stock and voting rights, aligning with NYSE American rules and beneficial ownership limits.

The most recent analyst rating on (SBEV) stock is a Sell with a $1.50 price target. To see the full list of analyst forecasts on Splash Beverage Group stock, see the SBEV Stock Forecast page.

Splash Beverage Group CFO Resignation Announced

On November 12, 2025, Splash Beverage Group borrowed $500,000 from two investors, issuing promissory notes with a 15% original issue discount and a 6% interest rate. The notes mature on February 12, 2025, and include provisions for conversion into equity or debt securities. Additionally, William Devereux announced his resignation as CFO, effective November 30, 2025.

The most recent analyst rating on (SBEV) stock is a Sell with a $1.00 price target. To see the full list of analyst forecasts on Splash Beverage Group stock, see the SBEV Stock Forecast page.

Splash Beverage Group CEO Resignation Announcement

On October 31, 2025, Splash Beverage Group announced that CEO Robert Nistico will resign effective November 14, 2025, but will remain on the Board of Directors and work on special projects. During the 2025 Annual Meeting held the same day, stockholders voted on several proposals, including the election of directors and the approval of an equity incentive plan. The meeting was adjourned to further discuss a proposal to increase authorized common stock.

The most recent analyst rating on (SBEV) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Splash Beverage Group stock, see the SBEV Stock Forecast page.