NATIONAL BEVERAGE CORP (FIZZ) FY2026 10-K Annual Report
NATIONAL BEVERAGE CORP (FIZZ) 10-K annual report for fiscal year 2026, filed with SEC EDGAR on Jul 1, 2026. 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 FY2026 10-K Analysis
Business Overview
- • Core business model: Innovative beverage company focused on healthier sparkling waters, juices, energy drinks, and select carbonated soft drinks
- • New product emphasis: LaCroix new flavor PineApple CocoNut and continued rollout of Sunshine (2025) and Strawberry Peach, fastest selling LaCroix flavor since late Fiscal 2025
- • Strategic shift: Increased focus on digital/social media marketing and regional experiential engagements over traditional national advertising
- • Notable metric: Workforce approx. 1,677 employees, 63% persons of color, 26% female, supporting diversity and inclusion culture
- • Distinctive fact: LaCroix recognized 4th consecutive year as “Most Trusted Brand in America” by Newsweek in 2026 survey
Management Discussion & Analysis
- • Revenue $1,180.6M, down $20.8M YoY from $1,201.4M; impacted by one less selling week and 6.7% decline in case volume
- • Gross margin flat at 37.0% for both Fiscal 2026 and 2025, gross profit $437.3M vs $443.9M, higher costs offset by price increase
- • Best segment: Power+ Brands stable price per case up 5.2%, worst: overall volume decline 6.7% including carbonated soft drinks
- • Operating cash flow $181.3M vs $206.7M, capex $25.1M down from $36.3M, share repurchase $0.7M, no borrowings on $150M revolver
- • Forward risks: inflation, supply chain disruptions, consumer spending caution, geopolitical/regulatory uncertainties, climate and cybersecurity risks
Risk Factors
- • Regulatory risk from proposed phase-out of synthetic dyes and removal of sweetened products from U.S. nutrition assistance program affecting costs and demand
- • Supply chain exposure to price volatility and disruptions in raw materials like aluminum, resin, corn, and transportation energy costs linked to tariffs and trade policy changes
- • Operational risk from adverse weather and climate change causing water use restrictions and disruptions in agricultural commodity supply and pricing
- • Competitive pressure from larger beverage companies with greater resources impacting revenue sustainability amid intense industry competition
- • Key-person dependency on executive officers and experienced employees critical to operations, with difficult replacement risks
NATIONAL BEVERAGE CORP FY2026 Key Financial MetricsXBRL
Revenue
$1.2B
▼ -1.7% YoY
Net Income
$184M
▼ -1.7% YoY
Gross Margin
37.0%
▲ +9bp YoY
Operating Margin
19.5%
▼ -11bp YoY
Net Margin
15.6%
▲ +1bp YoY
ROE
28.9%
▼ -1319bp YoY
Total Assets
$852M
▲ +26.6% YoY
EPS (Diluted)
$1.96
▼ -1.5% YoY
Operating Cash Flow
$181M
▼ -12.3% YoY
Source: XBRL data from NATIONAL BEVERAGE CORP FY2026 10-K filing on SEC EDGAR. All figures in USD.
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