NATIONAL BEVERAGE CORP (FIZZ) FY2025 10-K Annual Report
NATIONAL BEVERAGE CORP (FIZZ) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Jul 2, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
NATIONAL BEVERAGE CORP FY2025 10-K Analysis
Business Overview
- • Core business: Innovative beverage company focused on healthier sparkling waters, juices, and energy drinks with iconic legacy soft drink brands
- • New LaCroix flavors launched: Sunshine (summer 2025) and Strawberry Peach, plus packaging redesigns for Blackberry Cucumber and Cherry Lime
- • Strategic marketing shift: Increased digital and social media engagement, plus expanded sports sponsorships including Florida Panthers NHL team jerseys
- • Employee count around 1,681 with 59% persons of color and 25% female workforce, supporting diversity and inclusion efforts
- • Sustainability focus includes predominantly U.S.-based production, over 80% aluminum cans with 71% recycled content, and carbon footprint reduction investments
Management Discussion & Analysis
- • Revenue $1,201.4M, up 0.8% YoY from $1,191.7M; 1.7% selling price increase offset 0.9% case volume decline
- • Gross profit $443.9M vs $428.5M; gross margin 37.0% vs 36.0% YoY
- • Power+ Brands volume decline impacted segment; carbonated soft drink brands increased (best performing segment)
- • Operating expenses $208.5M down $1.4M; SG&A 17.4% of sales vs 17.6%
- • Operating cash flow $206.7M vs $197.9M; special dividend $304.1M; capex $36.3M vs $30.2M; cash decreased $133.2M
- • Management expects FY26 capex not to exceed $36.3M; risks include raw material costs, consumer demand, regulatory changes, and cyber threats
Risk Factors
- • Regulatory risk: potential increased costs from proposed phase-out of synthetic dyes and removal of sweetened products from U.S. nutrition assistance program
- • Macroeconomic threat: raw material and energy cost volatility from tariffs and supply disruptions impacting aluminum, resin, corn, and natural gas
- • Operational vulnerability: water scarcity and drought risks affecting production and distribution capabilities in critical geographic regions
- • Competitive risk: intense competition from companies with substantially greater financial and marketing resources threatening market share
- • Financial risk: reliance on key executives with potential operational disruption if unable to attract or retain experienced personnel
NATIONAL BEVERAGE CORP FY2025 Key Financial MetricsXBRL
Revenue
$1.2B
▲ +0.8% YoY
Net Income
$187M
▲ +5.7% YoY
Gross Margin
37.0%
▲ +100bp YoY
Operating Margin
19.6%
▲ +126bp YoY
Net Margin
15.6%
▲ +72bp YoY
ROE
42.1%
▲ +1049bp YoY
Total Assets
$673M
▼ -12.6% YoY
EPS (Diluted)
$1.99
▲ +5.3% YoY
Operating Cash Flow
$207M
▲ +4.4% YoY
Source: XBRL data from NATIONAL BEVERAGE CORP FY2025 10-K filing on SEC EDGAR. All figures in USD.
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