FIZZ NATIONAL BEVERAGE CORP

Overview and Growth

Fiscal 2026 results for NATIONAL BEVERAGE CORP combined $1.18B of revenue with net income of $183.65M and an operating cash inflow of $181.25M. At $1.18B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line contracted 1.7% from $1.20B in fiscal 2025; this top-line contraction left the company with a smaller revenue base. On a per-share basis, diluted EPS was $1.96, which connects the reported earnings outcome with the company’s diluted share count. The per-share result recorded a 1.5% decrease from fiscal 2025 diluted EPS of $1.99. Revenue equaled 1.39x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The first profit layer was $437.26M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross profit represented 37.0% of revenue, showing how much of the top line remained after direct costs. Operations produced $230.11M of income after the reported operating expense base, before the remaining non-operating and tax effects. Operating margin measured 19.5%, showing the portion of revenue preserved after the full set of operating costs. The bottom-line result was net income of $183.65M, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 15.6% margin after operating costs and the remaining recognized items. The earnings statement records $240.57M of pretax income, the profit base against which the reported tax provision can be assessed. Measured against revenue, pretax income equaled 20.4%, adding a pre-tax profitability layer between revenue and net income. The company recognized $56.92M of income tax for the period, completing the transition from pretax income to net income. The income-tax provision equaled 23.7% of pretax income, showing the tax burden absorbed by the year’s earnings. Return on period-end equity was 28.9%, relating annual net income to the equity capital on the balance sheet.

Liquidity and Capital Structure

At period end, the $851.65M asset base was financed through $215.93M of liabilities and $635.71M of equity. The near-term balance sheet paired $593.06M of current assets with $135.21M of current liabilities at the reporting date. Current assets covered current liabilities by 4.39x, leaving a positive buffer for near-term obligations. Reported cash and equivalents were $349.54M, separating immediately recognizable cash resources from the rest of the current-asset base. The cash balance equaled 258.5% of current liabilities, showing how much near-term coverage came from cash alone. Relative to total assets, liabilities measured 25.4%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 41.0%, a balance-sheet composition measure rather than a liquidity forecast. Compared with $672.86M in fiscal 2025, the current asset base moved 26.6% and finished higher.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $181.25M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. The operating-cash-flow-to-net-income relationship was 0.99x, comparing cash generated by operations with the bottom-line earnings result. Capital expenditures used $25.14M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital expenditures represented 13.9% of operating cash flow, leaving the remainder available as free cash flow. After capital spending, free cash flow was $156.11M, leaving cash available for debt reduction, shareholder returns, or further investment. Free cash flow represented 13.2% of revenue, linking post-investment cash generation with the company’s operating scale. The free-cash-flow-to-assets relationship was 18.3%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending May 2, 2026. Analysis generated Oct 21, 2026.