National BeverageFRA:20V -2.68%78 Operating Margin % is 19.33% as of Jan. 2026, which is 6% above its 10-year median of 18.30. GuruFocus rates FRA:20V with a GF Score™ of 78/100 and a GF Value™ of €40.06. The stock has 2 warning signs investors should review. Among 116 Beverages - Non-Alcoholic companies, National Beverage ranks better than 90.52% on this metric.
National Beverage Corp operating margin is expanding. Margin expansion is usually a good sign.
The historical rank and industry rank for National Beverage's Operating Margin % or its related term are showing as below:
FRA:20V'
s Operating Margin % Range Over the Past 10 Years
Min: 13.2 Med: 18.3 Max: 21.25
Current: 19.84
FRA:20V's Operating Margin % is ranked better than 90.52% of 116
companies
in the Beverages - Non-Alcoholic industry
Industry Median: 8.975
vs FRA:20V: 19.84
National Beverage's 5-Year Average Operating Margin % Growth Rate was 0.80% per year.
National Beverage (FRA:20V) Operating Margin % Explanation
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
National Beverage Operating Margin % Related Terms
National Beverage Operating Margin % Historical Data
* Premium members only.
The historical data trend for National Beverage's Operating Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:20V vs COCO, SUJA, BUDA: Operating Margin % Comparison
For the Beverages - Non-Alcoholic subindustry, National Beverage's Operating Margin %, along with its competitors' market caps and Operating Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
National Beverage Operating Margin % vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, National Beverage's Operating Margin % distribution charts can be found below:
* The bar in red indicates where National Beverage's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
National Beverage's Operating Margin % for the fiscal year that ended in Apr. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
National Beverage (FRA:20V) has a Operating Margin % of 19.33% as of Jan. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on National Beverage and its competitors. This is near median its historical median of 18.30. Over the past decade, National Beverage's Operating Margin % has ranged from 13.20 to 21.25. According to the industry distribution chart, National Beverage ranks #11 out of 116 companies in the Beverages - Non-Alcoholic industry, placing it in the top 9.5%.
Is National Beverage's Operating Margin % too high?
National Beverage's current Operating Margin % of 19.33% is near median its 10-year median of 18.30. Over the past 10 years, this metric has ranged from a low of 13.20 to a high of 21.25. The Beverages - Non-Alcoholic industry median Operating Margin % is 8.98. National Beverage's value of 19.33% is 115.4% above this industry median. Based on the distribution chart, National Beverage ranks #11 out of 116 companies in the Beverages - Non-Alcoholic industry, which is in the top quartile — a strong position relative to peers. Overall, National Beverage has a GF Score™ of 78/100, reflecting its overall financial health beyond just this single metric.
How does National Beverage's Operating Margin % compare to COCO and SUJA?
According to the Beverages - Non-Alcoholic industry distribution chart, National Beverage ranks #11 out of 116 companies for Operating Margin %. This places National Beverage in the top 10% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 8.98. National Beverage's value of 19.33% is 115.4% above this benchmark. Historically, National Beverage's own Operating Margin % has ranged from 13.20 to 21.25 over the past decade. While the company's 10-year median is 18.30 vs. the industry median of 8.98, National Beverage has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for a Beverages - Non-Alcoholic company?
The median Operating Margin % among Beverages - Non-Alcoholic companies is 8.98, based on 116 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Beverage's current Operating Margin % of 19.33% is 115.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on National Beverage and its competitors. For the Beverages - Non-Alcoholic industry, the median Operating Margin % is 8.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Beverage's current Operating Margin % is 19.33%, which is near median its own 10-year median of 18.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Beverage stock overvalued right now?
National Beverage (FRA:20V) has a current Operating Margin % of 19.33%. The stock's GF Value™ is €40.06, compared to a current price of €29.00 — trading 27.6% below its estimated fair value. The current Operating Margin % is 19.33%, which is near median its 10-year median of 18.30 and 115.4% above the Beverages - Non-Alcoholic industry median of 8.98. National Beverage's overall GF Score™ is 78/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For National Beverage (FRA:20V), the current Operating Margin % is 19.33% as of Jan. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is National Beverage (FRA:20V) Overvalued in 2026?
Based on GuruFocus' analysis, National Beverage stock appears to be undervalued.
The current stock price of €29.00 is trading 27.6% below its estimated GF Value™ of €40.06.
Key valuation signals for FRA:20V:
Operating Margin %: 19.33% (near median its 10-year median of 18.30)
GF Value™: €40.06 vs. price of €29.00 (27.6% below fair value)
Industry Position: 115.4% above the Beverages - Non-Alcoholic median (#11 of 116)
No single metric tells the full story. See the FRA:20V stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Beverage Corp is a non-alcoholic beverage company in the U.S. Its portfolio skews toward functional drinks (that is those purporting to offer health benefits) and is anchored by the popular LaCroix sparkling water trademark. Other offerings include Rip It energy drinks, Everfresh juices, and soda brands like Shasta and Faygo. The firm controls the majority of its production and distribution apparatus, with very little outsourcing. In terms of go-to-market, it uses warehouse distribution for retailers, direct-store delivery for convenience stores and other small outlets, and food-service distributors for the food-service channel (schools, hospitals, restaurants).
78GF Score
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