National Beverage vs Boston Beer Co
Boston Beer Co is the larger business, with $1.96bn of revenue in fiscal 2025 against $1.18bn for National Beverage (1.7 times as much). National Beverage grew faster (-1.7% against -2.4%). National Beverage kept more of each dollar of sales as profit: a net margin of 15.6% against 5.5%. National Beverage carries less debt relative to equity (0.0% against 0.0%).
| Latest fiscal year | National BeverageFIZZ, 2026 | Boston Beer CoSAM, 2025 |
|---|---|---|
| Revenue | $1.18bn | $1.96bn |
| Revenue growth | -1.7% | -2.4% |
| Net income | $184m | $108m |
| Operating margin | 19.5% | 7.4% |
| Net margin | 15.6% | 5.5% |
| Return on equity | 34.0% | 12.3% |
| Free cash flow | $156m | $216m |
| Cash | $350m | $223m |
| Total debt | $0 | $0 |
| Debt to equity | 0.0% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | 8.9% | — |
| Share buybacks | $673,000 | $202m |
| Employees | — | — |
| Market value | $3.42bn | $2.26bn |
| Price vs our value range | Within our value range | Below our value range |
| Moat score | 82 (Strong) | 62 (Moderate) |
| Insider trades, 12 months | 1 buys, 0 sales | 0 buys, 2 sales |