National Beverage Corp (FIZZ)
Return on total capital
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Apr 27, 2024 | Jan 31, 2024 | Jan 27, 2024 | Oct 31, 2023 | Oct 28, 2023 | Jul 31, 2023 | Jul 29, 2023 | Apr 30, 2023 | Apr 29, 2023 | Jan 31, 2023 | Jan 28, 2023 | Oct 31, 2022 | Oct 29, 2022 | Jul 31, 2022 | Jul 30, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 120,092 | 183,499 | 185,847 | 236,154 | 214,820 | 197,135 | 198,509 | 211,306 | 226,229 | 229,356 | 223,906 | 205,236 | 186,566 | 184,640 | 182,714 | 184,758 | 186,802 | 185,150 | 178,923 | 173,141 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | 0 | — | 0 | — | 0 | — | 0 |
| Total stockholders’ equity | US$ in thousands | 443,999 | 400,236 | 360,144 | 306,596 | 559,512 | 559,512 | 510,221 | 510,221 | 467,170 | 467,170 | 422,075 | 422,075 | 372,487 | 372,487 | 339,504 | 339,504 | 295,115 | 295,115 | 264,106 | 264,106 |
| Return on total capital | 27.05% | 45.85% | 51.60% | 77.02% | 38.39% | 35.23% | 38.91% | 41.41% | 48.43% | 49.09% | 53.05% | 48.63% | 50.09% | 49.57% | 53.82% | 54.42% | 63.30% | 62.74% | 67.75% | 65.56% |
April 30, 2025 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $120,092K ÷ ($—K + $443,999K)
= 27.05%
The analysis of National Beverage Corp's return on total capital (ROTC) over the specified periods reveals notable fluctuations, indicating variability in the company's efficiency in generating profits relative to its total capital employed.
From July 2022 to October 2022, the ROTC exhibited a downward trend, decreasing from approximately 66% to around 63%. This decline suggests a reduced ability to generate returns on invested capital during this period. The figure continued to decline into early 2023, reaching approximately 54% in January, and further down to about 50% by April 2023. This downward trajectory points to a period of diminishing efficiency or profitability relative to total capital.
Throughout the mid to late 2023, the ROTC maintained relatively stable levels in the low 50% range, with slight fluctuations. However, as the year concluded and into early 2024, a significant decrease is observed, with the ratio dropping to approximately 41% in January and further declining to around 35% by April. These figures indicate a deterioration in the company's ability to generate returns on its total capital.
Contrasting this downward trend, an anomalous upward spike occurs in July 2024, where the ROTC jumps sharply to approximately 77%. This sudden increase suggests a significant improvement in profitability or capital efficiency, possibly attributable to strategic initiatives, operational efficiencies, or extraordinary gains. Following this peak, the ratio decreases again to around 51.6% by October 2024 and continues to decline into early 2025, reaching approximately 27% in April 2025. The downward trend resumes, indicating renewed challenges in generating high returns on total capital.
Overall, the data portrays a pattern of variability, with periods of decline interrupted by sporadic sharp increases. The general trend from July 2022 through April 2025 indicates a decline in the company's ability to produce returns on its total capital, culminating in notably lower returns in April 2025 compared to the earlier periods. These fluctuations could be reflective of changing market conditions, operational adjustments, or strategic shifts impacting the company's profitability and capital efficiency over time.
Peer comparison
Apr 30, 2025