National Beverage Corp. (FIZZ) Key Metrics
FIZZ valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $3.27B
- Enterprise value
- $2.87B
- P/E (TTM)
- 18.8 10-yr median 24.8
- Forward P/E
- 18.5
- PEG ratio
- 4.03
- Price / sales
- 2.8 10-yr median 3.6
- Price / book
- 7.9 10-yr median 10.9
- EV / EBITDA
- 11.7 10-yr median 16.3
- Dividend yield
- —
- Beta
- 0.85
FIZZ key metrics, FY2017–FY2026
Fiscal year ended April 30, 2026 · U.S. dollarsFIZZ valuation Price multiples at each fiscal year-end price.
FIZZ returns How much profit the business earns on the capital it uses.
FIZZ per-share figures Results divided by the shares outstanding at year-end.
FIZZ financial health Debt, liquidity and how easily interest is covered.
FIZZ efficiency & capital use Working capital cycle and where the cash goes.
FIZZ valuation history
FIZZ returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FIZZ debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FIZZ cash returned to shareholders
FIZZ price vs earnings per share
FIZZ key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $3.21B | $4.16B | $4.17B | $4.65B | $4.13B | $4.55B | $2.35B | $2.63B | $4.15B | $4.14B |
| Enterprise value | $2.91B | $4.04B | $3.89B | $4.54B | $4.14B | $4.40B | $2.10B | $2.47B | $3.96B | $4.01B |
| P/E ratio | 17.5 | 22.3 | 23.6 | 32.7 | 26.0 | 26.1 | 18.1 | 18.7 | 27.7 | 38.7 |
| Price / sales | 2.7 | 3.5 | 3.5 | 4.0 | 3.6 | 4.2 | 2.4 | 2.6 | 4.2 | 5.0 |
| Price / book | 5.0 | 9.4 | 7.4 | 12.5 | 17.2 | 12.8 | 5.2 | 7.9 | 12.5 | 16.9 |
| Price / free cash flow | 20.5 | 24.4 | 24.9 | 33.3 | 39.6 | 27.0 | 15.3 | 26.0 | 33.8 | 41.5 |
| Price / operating cash flow | 17.7 | 20.1 | 21.1 | 28.8 | 31.0 | 23.5 | 13.2 | 18.8 | 26.8 | 36.4 |
| EV / sales | 2.5 | 3.4 | 3.3 | 3.9 | 3.6 | 4.1 | 2.1 | 2.4 | 4.1 | 4.8 |
| EV / EBITDA | 11.5 | 15.2 | 15.6 | 20.6 | 17.3 | 17.0 | 10.7 | 12.6 | 18.2 | 22.9 |
| EV / free cash flow | 18.7 | 23.7 | 23.2 | 32.5 | 39.8 | 26.1 | 13.6 | 24.4 | 32.2 | 40.2 |
| Earnings yield | 5.7% | 4.5% | 4.2% | 3.1% | 3.8% | 3.8% | 5.5% | 5.4% | 3.6% | 2.6% |
| Free cash flow yield | 4.9% | 4.1% | 4.0% | 3.0% | 2.5% | 3.7% | 6.5% | 3.8% | 3.0% | 2.4% |
| Dividend yield | 0.0% | 7.3% | 0.0% | 0.0% | 6.8% | 6.2% | 11.9% | 5.1% | 1.7% | 1.7% |
| Shareholder yield (dividends + buybacks) | 0.0% | 7.3% | 0.0% | 0.0% | 6.8% | 6.2% | 12.2% | 5.1% | 1.7% | 1.7% |
| Share price at fiscal year-end | $34.22 | $44.40 | $44.50 | $49.70 | $44.08 | $48.59 | $25.11 | $28.00 | $44.18 | $44.30 |
| Per share | ||||||||||
| Revenue per share | $12.60 | $12.82 | $12.73 | $12.53 | $12.16 | $11.45 | $10.68 | $10.81 | $10.40 | $8.84 |
| Earnings per share | $1.96 | $1.99 | $1.89 | $1.52 | $1.69 | $1.86 | $1.39 | $1.50 | $1.60 | $1.14 |
| Operating cash flow per share | $1.93 | $2.21 | $2.11 | $1.73 | $1.42 | $2.07 | $1.90 | $1.49 | $1.65 | $1.22 |
| Free cash flow per share | $1.67 | $1.82 | $1.79 | $1.49 | $1.11 | $1.80 | $1.64 | $1.08 | $1.31 | $1.07 |
| Cash per share | $3.73 | $2.07 | $3.49 | $1.69 | $0.51 | $2.07 | $3.25 | $1.66 | $2.02 | $1.46 |
| Book value per share | $6.79 | $4.74 | $5.98 | $3.98 | $2.56 | $3.80 | $4.83 | $3.53 | $3.53 | $2.63 |
| Tangible book value per share | $6.63 | $4.58 | $5.82 | $3.82 | $2.40 | $3.64 | $4.67 | $3.38 | $3.37 | $2.47 |
| Dividends per share | $0.00 | $3.25 | $0.00 | $0.00 | $2.99 | $2.99 | $2.99 | $1.44 | $0.74 | $0.75 |
| Capex per share | $0.27 | $0.39 | $0.32 | $0.23 | $0.31 | $0.27 | $0.26 | $0.41 | $0.34 | $0.15 |
| Debt per share | $0.63 | $0.77 | $0.58 | $0.44 | $0.65 | $0.47 | $0.52 | — | $0.00 | $0.00 |
| Shares outstanding | 93.7M | 93.7M | 93.6M | 93.6M | 93.6M | 93.6M | 93.7M | 93.8M | 93.8M | 93.5M |
| Change in shares outstanding | −0.0% | +0.1% | +0.0% | +0.0% | −0.0% | −0.0% | −0.2% | −0.0% | +0.3% | +0.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 34.0% | 37.2% | 37.9% | 46.5% | 53.2% | 43.1% | 33.2% | 42.5% | 51.9% | 47.4% |
| Return on invested capital (ROIC) | 52.6% | 59.0% | 61.9% | 56.0% | 69.2% | 86.3% | 68.3% | 87.0% | 118.7% | 101.8% |
| Return on assets (ROA) | 24.1% | 25.9% | 26.3% | 27.3% | 30.9% | 28.9% | 23.6% | 30.9% | 36.7% | 32.3% |
| Return on tangible assets | 21.9% | 28.4% | 23.4% | 25.4% | 35.0% | 32.1% | 20.5% | 32.2% | 33.7% | 31.2% |
| Free cash flow margin | 13.2% | 14.2% | 14.1% | 11.9% | 9.1% | 15.7% | 15.4% | 10.0% | 12.6% | 12.1% |
| Income quality (OCF / net income) | 0.99 | 1.11 | 1.12 | 1.14 | 0.84 | 1.11 | 1.37 | 0.99 | 1.03 | 1.06 |
| Financial health | ||||||||||
| Total debt | $58.9M | $72.1M | $54.8M | $41.5M | $61.2M | $43.6M | $49.1M | — | $0 | $0 |
| Cash & short-term investments | $349.5M | $193.8M | $327.0M | $158.1M | $48.0M | $193.6M | $304.5M | $156.2M | $189.9M | $136.4M |
| Net debt | −$290.6M | −$121.7M | −$272.3M | −$116.5M | $13.2M | −$150.0M | −$255.4M | −$156.2M | −$189.9M | −$136.4M |
| Debt / equity | 0.09 | 0.16 | 0.10 | 0.11 | 0.26 | 0.12 | 0.11 | — | 0.00 | 0.00 |
| Debt / assets | 0.07 | 0.11 | 0.07 | 0.07 | 0.13 | 0.08 | 0.08 | — | 0.00 | 0.00 |
| Net debt / EBITDA | −1.15 | −0.46 | −1.09 | −0.53 | 0.06 | −0.58 | −1.30 | −0.80 | −0.87 | −0.78 |
| Current ratio | 4.39 | 2.90 | 3.89 | 2.54 | 1.89 | 2.48 | 3.25 | 3.31 | 3.37 | 3.12 |
| Quick ratio | 3.68 | 2.29 | 3.28 | 1.89 | 1.18 | 1.99 | 2.80 | 2.58 | 2.79 | 2.51 |
| Interest coverage | — | — | — | 771.4 | 799.4 | — | 44.7 | 890.8 | — | 859.7 |
| Working capital | $457.8M | $266.4M | $398.9M | $222.1M | $129.2M | $217.7M | $319.0M | $224.4M | $248.3M | $185.0M |
| Invested capital | $345.1M | $322.3M | $287.2M | $255.9M | $252.6M | $206.0M | $197.0M | $175.4M | $141.6M | $109.2M |
| Tangible asset value | $621.0M | $429.2M | $544.8M | $357.7M | $224.7M | $341.2M | $437.6M | $316.8M | $316.7M | $230.9M |
| Net current asset value | $377.1M | $178.1M | $326.2M | $164.6M | $46.2M | $163.7M | $264.4M | $200.9M | $225.6M | $160.0M |
| Graham number | $17.30 | $14.58 | $15.93 | $11.66 | $9.87 | $12.62 | $12.28 | $10.93 | $11.26 | $8.22 |
| Graham net-net per share | $2.77 | $0.91 | $2.52 | $0.87 | −$0.62 | $0.99 | $2.17 | $1.43 | $1.66 | $1.11 |
| Capital allocation | ||||||||||
| Dividends paid | $0 | $304.1M | $0 | $0 | $280.0M | $279.9M | $279.9M | $135.2M | $69.9M | $69.8M |
| Share buybacks (net) | $673,000 | $0 | $0 | $0 | $335,000 | $0 | $6.2M | $0 | $0 | $0 |
| Dividend payout ratio | 0.0% | 162.8% | 0.0% | 0.0% | 176.6% | 160.7% | 215.3% | 96.0% | 46.7% | 65.3% |
| Dividends + buybacks / free cash flow | 0.4% | 178.5% | 0.0% | 0.0% | 269.3% | 166.1% | 186.0% | 133.8% | 56.9% | 70.0% |
| Capex / revenue | 2.1% | 3.0% | 2.5% | 1.9% | 2.5% | 2.4% | 2.4% | 3.8% | 3.3% | 1.7% |
| Capex / operating cash flow | 13.9% | 17.6% | 15.3% | 13.6% | 21.8% | 13.1% | 13.4% | 27.5% | 20.7% | 12.3% |
| Capex / depreciation | 1.11 | 1.74 | 1.50 | 0.66 | 0.91 | 0.81 | 0.78 | 2.48 | 2.42 | 1.09 |
| Stock-based compensation / revenue | 0.0% | 0.1% | 0.1% | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 17.5% | 11.1% | 17.6% | 17.9% | 18.4% | 18.1% | 20.4% | 20.2% | 19.2% | 19.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 32.2 | 31.4 | 31.8 | 30.9 | 28.9 | 29.2 | 31.0 | 30.4 | 29.1 | 29.2 |
| Days of inventory on hand | 44.3 | 40.9 | 42.6 | 46.3 | 44.3 | 37.9 | 38.9 | 38.1 | 35.7 | 36.9 |
| Days payables outstanding | 41.7 | 38.7 | 39.1 | 42.4 | 46.6 | 45.8 | 40.7 | 40.9 | 41.5 | 39.2 |
| Cash conversion cycle (days) | 34.9 | 33.6 | 35.4 | 34.8 | 26.5 | 21.3 | 29.1 | 27.7 | 23.3 | 26.9 |
| Receivables turnover | 11.33 | 11.61 | 11.47 | 11.82 | 12.64 | 12.51 | 11.79 | 11.99 | 12.54 | 12.49 |
| Payables turnover | 8.75 | 9.42 | 9.34 | 8.60 | 7.83 | 7.98 | 8.97 | 8.93 | 8.79 | 9.32 |
| Inventory turnover | 8.23 | 8.93 | 8.57 | 7.88 | 8.24 | 9.64 | 9.39 | 9.57 | 10.23 | 9.89 |
| Asset turnover | 1.55 | 1.67 | 1.77 | 2.25 | 2.22 | 1.78 | 1.82 | 2.23 | 2.39 | 2.49 |
| Average receivables | $104.2M | $103.5M | $103.9M | $99.3M | $90.0M | $85.7M | $84.9M | $84.6M | $77.8M | $66.2M |
| Average payables | $84.9M | $80.4M | $81.7M | $90.2M | $92.0M | $81.6M | $70.3M | $70.5M | $66.5M | $53.7M |
| Average inventory | $90.3M | $84.9M | $89.1M | $98.4M | $87.4M | $67.5M | $67.1M | $65.8M | $57.1M | $50.6M |
| Intangibles / total assets | 1.7% | 2.2% | 1.9% | 2.6% | 3.2% | 2.6% | 2.3% | 3.3% | 3.2% | 4.1% |
Computed from FIZZ's annual financial statements (latest annual report filed July 1, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
FIZZ valuation and financial ratios
At the end of fiscal 2026 (April 30, 2026), National Beverage traded at 17.5 times earnings, against a 10-year median of 24.8. Based on the latest twelve months, the trailing P/E is 18.8 and the forward P/E is 18.5. National Beverage earned a return on equity of 34.0% and a return on invested capital of 52.6% in fiscal 2026. It ended the year with $58.9 million of debt and $349.5 million in cash and short-term investments, a net cash position of $290.6 million. It returned $0.7 million to shareholders: $0 in dividends and $0.7 million in share buybacks, 0% of free cash flow.
See the FIZZ income statement, the FIZZ chart for price history, or the FIZZ stock overview for the latest quote and news.
FIZZ key metrics FAQ
What is National Beverage's P/E ratio?
National Beverage's trailing P/E ratio is 18.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 18.5. At the end of fiscal 2026 it was 17.5, compared with a 10-year median of 24.8.
What is National Beverage's EV/EBITDA?
National Beverage's enterprise value was 11.5 times EBITDA at the end of fiscal 2026 (enterprise value $2.9 billion, EBITDA $252.8 million); the current EV/EBITDA is 11.7.
What is National Beverage's return on equity?
National Beverage's return on equity (ROE) was 34.0% in fiscal 2026: net income of $183.6 million on average shareholders' equity of $539.9 million.
What is National Beverage's ROIC?
National Beverage's return on invested capital was 52.6% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does National Beverage have?
National Beverage had total debt of $58.9 million at the end of fiscal 2026, a debt-to-equity ratio of 0.09 and more cash than debt.
Does National Beverage pay a dividend?
National Beverage did not pay a dividend in fiscal 2026.
Does National Beverage buy back its shares?
Yes. National Beverage spent $0.7 million on net share repurchases in fiscal 2026 Shares outstanding changed −0.0% over the year, to 93.7M..
What is National Beverage's free cash flow yield?
National Beverage generated $156.1 million of free cash flow in fiscal 2026, a free cash flow yield of 4.9% on its market value at year-end ($3.2 billion).
What is National Beverage's current ratio?
National Beverage's current ratio was 4.39 at the end of fiscal 2026: current assets were 4.39 times current liabilities.