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National Beverage vs Reed'S: revenue, profit, margins and growth compared

National Beverage brought in $1.2B of revenue in fiscal 2026, Reed'S $34.1M in fiscal 2025. Revenue changed by -1.7% at National Beverage and -10.2% at Reed'S on the year before, so National Beverage grew faster. National Beverage kept 15.6% of its revenue as net profit, Reed'S -46.5%. Free cash flow was $156.1M at National Beverage and -$17.3M at Reed'S.

Side by side, latest fiscal year

FIZZREED
Fiscal year endedFY2026 (May 2, 2026)FY2025 (December 31, 2025)
Revenue$1.2B$34.1M
Revenue growth-1.7%-10.2%
Net income$183.6M-$15.8M
Net margin15.6%-46.5%
Free cash flow$156.1M-$17.3M
Free cash flow margin13.2%-50.8%
Earnings per share (diluted)$1.96-$1.91
Cash$349.5M$10.4M
Debtn/an/a
Price to earnings15.1n/a
Market value$2.8B$7.7M
Dividend yieldn/an/a
Rank by revenue in sector#63 of 125 · Consumer staples#95 of 125 · Consumer staples

Over the years

Revenue
FIZZ FY2019: $1BFIZZ FY2020: $1BFIZZ FY2021: $1.1BFIZZ FY2022: $1.1BFIZZ FY2023: $1.2BFIZZ FY2024: $1.2BFIZZ FY2025: $1.2BFIZZ FY2026: $1.2BREED FY2018: $38.1MREED FY2019: $33.8MREED FY2020: $41.6MREED FY2021: $49.6MREED FY2022: $53MREED FY2023: $44.7MREED FY2024: $38MREED FY2025: $34.1MFY18FY19FY20FY21FY22FY23FY24FY25FY26
FIZZ $1.2BREED $34.1M
Net income
FIZZ FY2019: $140.9MFIZZ FY2020: $130MFIZZ FY2021: $174.1MFIZZ FY2022: $158.5MFIZZ FY2023: $142.2MFIZZ FY2024: $176.7MFIZZ FY2025: $186.8MFIZZ FY2026: $183.6MREED FY2018: -$10.3MREED FY2019: -$16.1MREED FY2020: -$10.2MREED FY2021: -$16.4MREED FY2022: -$20.1MREED FY2023: -$15.5MREED FY2024: -$13.2MREED FY2025: -$15.8MFY18FY19FY20FY21FY22FY23FY24FY25FY26
FIZZ $183.6MREED -$15.8M
Net margin
FIZZ FY2019: 13.9%FIZZ FY2020: 13.0%FIZZ FY2021: 16.2%FIZZ FY2022: 13.9%FIZZ FY2023: 12.1%FIZZ FY2024: 14.8%FIZZ FY2025: 15.6%FIZZ FY2026: 15.6%REED FY2018: -27.1%REED FY2019: -47.6%REED FY2020: -24.5%REED FY2021: -33.1%REED FY2022: -37.8%REED FY2023: -34.7%REED FY2024: -34.7%REED FY2025: -46.5%FY18FY19FY20FY21FY22FY23FY24FY25FY26
FIZZ 15.6%REED -46.5%
Revenue growth
FIZZ FY2020: -1.4%FIZZ FY2021: +7.2%FIZZ FY2022: +6.1%FIZZ FY2023: +3.1%FIZZ FY2024: +1.6%FIZZ FY2025: +0.8%FIZZ FY2026: -1.7%REED FY2019: -11.2%REED FY2020: +23.0%REED FY2021: +19.2%REED FY2022: +6.9%REED FY2023: -15.7%REED FY2024: -15.1%REED FY2025: -10.2%FY19FY20FY21FY22FY23FY24FY25FY26
FIZZ -1.7%REED -10.2%
Free cash flow
FIZZ FY2019: $101.1MFIZZ FY2020: $153.8MFIZZ FY2021: $168.5MFIZZ FY2022: $104.1MFIZZ FY2023: $139.7MFIZZ FY2024: $167.6MFIZZ FY2025: $170.4MFIZZ FY2026: $156.1MREED FY2018: -$9.4MREED FY2019: -$18.5MREED FY2020: -$9.6MREED FY2021: -$17.9MREED FY2023: -$4.4MREED FY2024: -$6.3MREED FY2025: -$17.3MFY18FY19FY20FY21FY22FY23FY24FY25FY26
FIZZ $156.1MREED -$17.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about National Beverage and Reed'S

Which is bigger by revenue, National Beverage or Reed'S?

National Beverage is bigger by revenue: $1.2B in fiscal 2026, against $34.1M for Reed'S in fiscal 2025.

Which keeps more of its revenue as profit, National Beverage or Reed'S?

National Beverage had a net margin of 15.6% in fiscal 2026; Reed'S had -46.5% in fiscal 2025.

Which grew revenue faster, National Beverage or Reed'S?

In their latest fiscal years revenue changed by -1.7% at National Beverage and -10.2% at Reed'S.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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