Short answer
NATIONAL BEVERAGE CORP (FIZZ) filed its fiscal 2026 10-K annual report with the SEC on Jul 1, 2026. It reported revenue of $1.2B (−1.7% year over year) and net income of $184M.
- Top risk flagged: Regulatory risk from proposed phase-out of synthetic dyes and removal of sweetened products from U.S. nutrition assistance program affecting costs and demand
FY2026 key financial metrics · XBRL
- Revenue
- $1.2B
- −1.7% YoY
- Net income
- $184M
- −1.7% YoY
- Operating margin
- 19.5%
- −0.1 pp YoY
- Gross margin
- 37.0%
- +0.1 pp YoY
- EPS (diluted)
- $1.96
- −1.5% YoY
- ROE
- 28.9%
- −13.2 pp YoY
- Operating cash flow
- $181M
- −12.3% YoY
Source: XBRL data from the NATIONAL BEVERAGE CORP (FIZZ) FY2026 10-K on SEC EDGAR. USD.
NATIONAL BEVERAGE CORP FY2026 10-K analysis
AI summary of each section, grounded in the filing text
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
Generated from the filing text; verify against the original. How to read a 10-K
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