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National Beverage vs Reed's: FIZZ and REED compared
National Beverage is the larger company: $331M of revenue in its latest quarter (Q1 FY27) against $7.5M for Reed's (Q2 2026). National Beverage is growing faster (0% against -21% a year earlier). National Beverage is more profitable, with an operating margin of 17.7% against -54.3%.
Where the money goes: FIZZ and REED
National Beverage (FIZZ) · Q1 FY27
National Beverage, Q1 FY27: revenue $331M (0% year over year), operating margin 17.7%, net earnings $47.0M, operating cash flow $64.8M. The chart follows the revenue to costs, profit and cash.
Reed's (REED) · Q2 2026
Reed's, Q2 2026: revenue $7.5M (-21% year over year), operating margin -54.3%, net loss $4.3M, operating cash flow −$2.2M. The chart follows the revenue to costs, profit and cash.
| National Beverage (FIZZ) | Reed's (REED) | |
|---|---|---|
| Latest quarter | Q1 FY27 | Q2 2026 |
| Revenue | $331M | $7.5M |
| Revenue growth, Y/Y | 0% | -21% |
| Gross margin | 35.0% | — |
| Operating margin | 17.7% | -54.3% |
| Net earnings | $47.0M | −$4.3M |
| Net margin | 14.2% | -57.1% |
| Operating cash flow | $64.8M | −$2.2M |
| Free cash flow | $61.8M | — |
| Market value | $3.3B | — |
| P/E | 18.9× | — |
| Analysts’ mean target | $31.00 | — |
Questions
Which is bigger, National Beverage or Reed's?
National Beverage is the larger company: $331M of revenue in its latest quarter (Q1 FY27) against $7.5M for Reed's (Q2 2026).
Is National Beverage or Reed's growing faster?
National Beverage is growing faster (0% against -21% a year earlier).
Which is more profitable, National Beverage or Reed's?
National Beverage is more profitable, with an operating margin of 17.7% against -54.3%.
More: National Beverage earnings · how National Beverage makes money · Reed's earnings · how Reed's makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Sep 10, 2026; 10-Q filed Aug 12, 2026). Fiscal quarters can end on different dates. Not investment advice.