Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
National BeverageFRA:20V +2.29%73 Return-on-Tangible-Equity is 27.00% as of Apr. 2026, which is 39% below its 10-year median of 44.60. GuruFocus rates FRA:20V with a GF Score™ of 73/100 and a GF Value™ of €39.44. The stock has 1 warning sign investors should review. Among 110 Beverages - Non-Alcoholic companies, National Beverage ranks better than 80% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. National Beverage's annualized net income for the quarter that ended in Apr. 2026 was €138 Mil. National Beverage's average shareholder tangible equity for the quarter that ended in Apr. 2026 was €511 Mil. Therefore, National Beverage's annualized Return-on-Tangible-Equity for the quarter that ended in Apr. 2026 was 27.00%.
The historical rank and industry rank for National Beverage's Return-on-Tangible-Equity or its related term are showing as below:
FRA:20V'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 34.46 Med: 44.6 Max: 56.02
Current: 34.62
During the past 13 years, National Beverage's highest Return-on-Tangible-Equity was 56.02%. The lowest was 34.46%. And the median was 44.60%.
FRA:20V's Return-on-Tangible-Equity is ranked better than 80% of 110
companies
in the Beverages - Non-Alcoholic industry
Industry Median: 13.775
vs FRA:20V: 34.62
National Beverage (FRA:20V) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
National Beverage Return-on-Tangible-Equity Related Terms
National Beverage Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for National Beverage's Return-on-Tangible-Equity 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: Return-on-Tangible-Equity Comparison
For the Beverages - Non-Alcoholic subindustry, National Beverage's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, National Beverage's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where National Beverage's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Apr. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 27.00% mean?
National Beverage (FRA:20V) has a Return-on-Tangible-Equity of 27.00% as of Apr. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on National Beverage and its competitors. This is 39% below median its historical median of 44.60. Over the past decade, National Beverage's Return-on-Tangible-Equity has ranged from 34.46 to 56.02. According to the industry distribution chart, National Beverage ranks #22 out of 110 companies in the Beverages - Non-Alcoholic industry, placing it in the top 20%.
Is National Beverage's Return-on-Tangible-Equity too high?
National Beverage's current Return-on-Tangible-Equity of 27.00% is 39% below median its 10-year median of 44.60. Over the past 10 years, this metric has ranged from a low of 34.46 to a high of 56.02. The Beverages - Non-Alcoholic industry median Return-on-Tangible-Equity is 13.78. National Beverage's value of 27.00% is 96% above this industry median. Based on the distribution chart, National Beverage ranks #22 out of 110 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 73/100, reflecting its overall financial health beyond just this single metric.
How does National Beverage's Return-on-Tangible-Equity compare to COCO and SUJA?
According to the Beverages - Non-Alcoholic industry distribution chart, National Beverage ranks #22 out of 110 companies for Return-on-Tangible-Equity. This places National Beverage in the top 20% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 13.78. National Beverage's value of 27.00% is 96% above this benchmark. Historically, National Beverage's own Return-on-Tangible-Equity has ranged from 34.46 to 56.02 over the past decade. While the company's 10-year median is 44.60 vs. the industry median of 13.78, 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 Return-on-Tangible-Equity for a Beverages - Non-Alcoholic company?
The median Return-on-Tangible-Equity among Beverages - Non-Alcoholic companies is 13.78, based on 110 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Beverage's current Return-on-Tangible-Equity of 27.00% is 96% 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on National Beverage and its competitors. For the Beverages - Non-Alcoholic industry, the median Return-on-Tangible-Equity is 13.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Beverage's current Return-on-Tangible-Equity is 27.00%, which is 39% below median its own 10-year median of 44.60. 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 Return-on-Tangible-Equity of 27.00%. The stock's GF Value™ is €39.44, compared to a current price of €26.80 — trading 32% below its estimated fair value. The current Return-on-Tangible-Equity is 27.00%, which is 39% below median its 10-year median of 44.60 and 96% above the Beverages - Non-Alcoholic industry median of 13.78. National Beverage's overall GF Score™ is 73/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For National Beverage (FRA:20V), the current Return-on-Tangible-Equity is 27.00% as of Apr. 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 €26.80 is trading 32% below its estimated GF Value™ of €39.44.
Key valuation signals for FRA:20V:
Return-on-Tangible-Equity: 27.00% (39% below median its 10-year median of 44.60)
GF Value™: €39.44 vs. price of €26.80 (32% below fair value)
Industry Position: 96% above the Beverages - Non-Alcoholic median (#22 of 110)
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).
73GF Score
Get the complete analysis for FRA:20V
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:20V has been successfully added to your 
