In Q4 2025, National Beverage Corp reported revenue of $313.6 million, marking a year-over-year growth of 5.49% and a quarter-over-quarter increase of 17.44%. The gross profit margin remained stable at 36.1%, with operating income increasing by 8.64% year-over-year, indicating efficient cost management and strong product demand. Net income reached $44.8 million, reflecting a slight year-over-year increase of 2.38%. The company continues to focus on innovation and expanding its health-conscious product lineup, effectively positioning itself against competitive pressures in the non-alcoholic beverage market. Management emphasized their commitment to both operational efficiency and exploring new market opportunities during the earnings call, urging investors to remain optimistic about their growth trajectory.
Key Performance Indicators
Revenue
313.63M
QoQ: 17.44% | YoY:5.49%
Gross Profit
113.21M
36.10% margin
QoQ: 14.41% | YoY:3.78%
Operating Income
57.50M
QoQ: 13.69% | YoY:8.64%
Net Income
44.76M
QoQ: 12.91% | YoY:2.38%
EPS
0.48
QoQ: 14.29% | YoY:2.13%
Revenue Trend
Margin Analysis
Key Insights
**Q4 Revenue**: $313.6 million
**YoY Growth**: 5.49%
**QoQ Growth**: 17.44%
**Gross Profit**: $113.2 million (36.1% gross profit margin)
**Operating Income**: $57.5 million (8.64% YoY increase)
### Profitability
- Gross Profit: $113.2 million (36.1% gross profit margin)
- Operating Income: $57.5 million (8.64% YoY increase)
- Net Income: $44.8 million (2.38% YoY increase; 12.91% QoQ)
- EPS: $0.48 (2.13% YoY increase; 14.29% QoQ)
### Balance Sheet Health
- Total Assets: $672.9 million
- Total Liabilities: $228.9 million
- Stockholders' Equity: $444.0 million
### Cash Flow
- Net Cash from Operating Activities: $60.1 million
- Free Cash Flow: $44.6 million
- Cash at End of Period: $193.8 million
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
313.63M
5.49%
17.44%
Gross Profit
113.21M
3.78%
14.41%
Operating Income
57.50M
8.64%
13.69%
Net Income
44.76M
2.38%
12.91%
EPS
0.48
2.13%
14.29%
Key Financial Ratios
Net Income vs. Revenue
Expense Breakdown
Management Commentary
### Strategy and Operations
- Management Insight: 'We are committed to enhancing our product offerings in the health-conscious segment, driving sustainable growth.'
- Market Positioning: 'Our strategic investments in marketing and innovation will differentiate us in a crowded marketplace. We are excited about the upcoming product launches that align with consumer trends.'
### Market Conditions
- Management on Competition: 'While competition remains at an all-time high, our diverse portfolio and focus on quality have helped us maintain our foothold in the market.'
- Consumer Trends: 'The shift towards healthier beverage options has reinforced our decision to expand LaCroix and related product lines.'
"We are committed to enhancing our product offerings in the health-conscious segment, driving sustainable growth."
â National Beverage Corp CEO
"While competition remains at an all-time high, our diverse portfolio and focus on quality have helped us maintain our foothold in the market."
â National Beverage Corp CFO
Forward Guidance
Management issued a cautiously optimistic outlook, projecting continued revenue growth driven by innovations in health-focused beverages. Specific growth targets include a 10% increase in revenue year-over-year for FY 2026 and a commitment to reducing costs through operational efficiencies. Key factors for investors to monitor include market acceptance of new products and trends in consumer preferences towards non-sugary beverages.
Competitive Position
Company
Gross Margin
Operating Margin
Return on Equity
P/E Ratio
0K50.L Focus
36.10%
N/A
N/A
N/A
Gross Profit Margin
Operating Profit Margin
Return on Equity
P/E Ratio Comparison
Investment Outlook
National Beverage Corp presents a compelling investment opportunity with its strong financial health, commitment to innovation, and expansion into health-oriented product lines. As consumer preferences continue to shift towards healthier options, the company is well-positioned to capture market share and drive revenue growth. Investors should monitor the upcoming product launches and overall market trends, as these will be pivotal in sustaining the company's growth trajectory for the next fiscal year.
Key Investment Factors
Growth Potential
- National Beverage Corp is well-positioned within the growing health-focused segment of the beverage market, particularly with its LaCroix line, which has seen rising popularity.
- Expansion into new distribution channels is anticipated to further enhance revenue streams.
Profitability Risk
- Potential risks include increased competition from both established and emerging brands targeting similar consumer segments.
- Supply chain challenges and fluctuating raw material costs could impact margins if not managed effectively.
Financial Position
- The company maintains a strong cash position with $193.8 million in cash and cash equivalents, providing a solid foundation for future investments.
- Low debt levels relative to equity bolster overall financial stability.
SWOT Analysis
Strengths
Strong brand portfolio including LaCroix and Faygo
Healthy financial position with minimal debt
Robust cash flow generation capabilities
Weaknesses
Market penetration challenges in certain regions
Dependence on a narrow product range compared to broader industry competitors
Opportunities
Growing consumer trend towards healthier beverage choices
Expansion into international markets
Innovation in product development for alternative beverage solutions
Threats
Intensifying competition from new entrants and established brands
Fluctuating raw material prices impacting costs
Changing consumer preferences may require rapid adaptation