NATIONAL BEVERAGE CORP
FIZZ · Bottled & Canned Soft Drinks & Carbonated Waters · 93.6M shares · -0%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $6M (gross $6M, SBC $677K)
Reference price $43.40 · est. market cap ~$4.1B — last insider sale, 2025-04-15 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B83Debt-free sparkling-water leader (LaCroix) with top-decile returns and strong margins but flat volume growth.
Strengths
- Top-decile ROA 27.8% (98th pct) and ROE 42.1% (87th pct); operating margin 86th pct, no debt
- Durable, trusted brand with pricing power and strong FCF (73rd pct)
Risks
- Revenue essentially flat (+0.8%) with case-volume decline in Power+ Brands — a real growth stall
- Related-party management-fee structure and commodity/competitive pressure
Notable findings
- Strong balance sheetStrong balance sheet — $194M cash & investments
- Revenue declineRevenue -12.8% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
37.0%
Operating margin
19.6%
Net margin
15.6%
Return on equity
42.1%
Return on assets
27.8%
Revenue growth (QoQ)
-12.8%
Net-income growth
5.7%
Current ratio
2.9×
Free cash flow
$170M
EBITDA
$256M
Tangible book value
$429M
Cash & investments
$194M
Stock comp / revenue
0.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2025-04-15 | sheridan stanley michael | Sell | 8.0K | $43.40 |
| 2024-12-31 | sheridan stanley michael | Sell | 6.1K | $42.49 |
| 2024-12-30 | HATHORN SAMUEL C | Gift | 20K | $42.50 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (1)
- Corporate Management Advisors, Inc.
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-03-13 | 2026-03-12 | 0001437749-26-008252 ↗ |
| 10-Q | 2026-03-12 | 2026-01-31 | 0001437749-26-007987 ↗ |
| 8-K | 2025-12-12 | 2025-12-11 | 0001437749-25-037735 ↗ |
| 10-Q | 2025-12-11 | 2025-11-01 | 0001437749-25-037558 ↗ |
| 8-K | 2025-10-31 | 2025-10-30 | 0001437749-25-032615 ↗ |
| 8-K | 2025-10-06 | 2025-08-25 | 0001437749-25-030552 ↗ |
| 8-K | 2025-09-12 | 2025-09-11 | 0001437749-25-028947 ↗ |
| 10-Q | 2025-09-11 | 2025-08-02 | 0001437749-25-028856 ↗ |
| 8-K | 2025-07-03 | 2025-07-02 | 0001437749-25-022147 ↗ |
| 10-K | 2025-07-02 | 2025-05-03 | 0001437749-25-022007 ↗ |
| 8-K | 2025-03-07 | 2025-03-06 | 0001437749-25-006686 ↗ |
| 10-Q | 2025-03-06 | 2025-01-25 | 0001437749-25-006467 ↗ |