Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
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Over the five-year period (figures in millions USD) National Beverage’s total assets moved from 557.2 (2021) to 672.9 (2025), a net increase of about 20.8%. The path was uneven: assets fell sharply in 2022 to 467.8 (−16.0% vs. 2021), recovered in 2023 to 574.3 (+22.8% vs. 2022), jumped strongly in 2024 to a peak of 770.2 (+34.1% vs. 2023) and then eased back to 672.9 in 2025 (−12.6% vs. 2024). Total liabilities were much more stable in absolute terms, ranging roughly between $201–229M; they rose modestly from $201.2 (2021) to $228.9 (2025), an overall increase of about 13.8%, with the highest leverage point in 2022 when liabilities represented nearly half of assets. Stockholders’ equity showed the largest volatility: it declined from $356.0 (2021) to $239.4 (2022) (−32.7%), rebounded to $372.5 in 2023, surged to $559.5 in 2024, then fell to $444.0 in 2025. As a consequence the equity-to-assets ratio swung from ~63.9% (2021) down to ~51.2% (2022), then up to ~72.7% at the 2024 peak before normalizing to ~66.0% in 2025. Overall this profile suggests a company that remains predominantly equity-financed with low-to-moderate leverage but has experienced episodic balance-sheet swings—likely driven by working-capital movements, profitability swings, one-off items, or financing/M&A activity common in the beverage industry. The stability of liabilities combined with large equity swings points to earnings, dividends, buybacks or equity transactions as probable drivers rather than sustained debt financing.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.