What is National Beverage's net debt?

National Beverage (FIZZ) reported net debt of -$251.3M in Q4 2025.

How has National Beverage's net debt changed year-over-year?

National Beverage's net debt decreased by 167.7% year-over-year, from -$93.89M to -$251.3M.

What is the long-term trend for National Beverage's net debt?

Over 4 years (2021 to 2025), National Beverage's net debt has grown at a -5.1% compound annual growth rate (CAGR), from -$149.95M to -$121.71M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

National Beverage FIZZ Net debt

Discontinued — last reported Q3 '26

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Other financials

Income statement

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Revenue$264.6M-0.9%

Gross profit$99.6M+0.7%

Operating income$51.1M+1.1%

Net income$41.2M+3.9%

EPS (diluted)$0.44+4.8%

Balance sheet

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Cash & equivalents$314.0M+110%

Total debt$62.7M+13.3%

Total equity$591.1M+47.7%

Total assets$792.5M+33.4%

Cash flow

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Operating cash flow$50.9M+9.4%

CapEx$6.3M-38.3%

Free cash flow$44.6M+22.9%

Valuation

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Market cap$3.23B-8.7%

Profitability

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Gross margin37.4%+0.3pp

Operating margin19.8%+0.4pp

Net margin15.7%0.0pp

FCF margin13.8%-1.0pp

Returns & leverage

See full

Return on equity37.9%-2.9pp

Debt / equity0.1×0.0×

Current ratio4.4×+1.5×

Where this comes from

Calculated from National Beverage’s reported figures.

$62.7Mtotal debt−$314.0Mcash and equivalents=-$251.3M

The official record: National Beverage’s 10-Q, filed March 12, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is National Beverage's net debt?: National Beverage (FIZZ) reported net debt of -$251.3M in Q4 2025.
How has National Beverage's net debt changed year-over-year?: National Beverage's net debt decreased by 167.7% year-over-year, from -$93.89M to -$251.3M.
What is the long-term trend for National Beverage's net debt?: Over 4 years (2021 to 2025), National Beverage's net debt has grown at a -5.1% compound annual growth rate (CAGR), from -$149.95M to -$121.71M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.