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 71 3-Year ROIIC % is 36.57 as of Apr. 2026, which is 18% above its 10-year median of 31.01. GuruFocus rates FRA:20V with a GF Score™ of 71/100 and a GF Value™ of €38.61. The stock has 1 warning sign investors should review. Among 106 Beverages - Non-Alcoholic companies, National Beverage ranks better than 82.08% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
National Beverage's 3-Year ROIIC % for the quarter that ended in Apr. 2026 was 36.57%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for National Beverage's 3-Year ROIIC % or its related term are showing as below:
FRA:20V's 3-Year ROIIC % is ranked better than 82.08% of 106
companies
in the Beverages - Non-Alcoholic industry
Industry Median: 10.505
vs FRA:20V: 36.57
National Beverage (FRA:20V) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
National Beverage 3-Year ROIIC % Related Terms
National Beverage 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for National Beverage's 3-Year ROIIC % 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: 3-Year ROIIC % Comparison
For the Beverages - Non-Alcoholic subindustry, National Beverage's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, National Beverage's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where National Beverage's 3-Year ROIIC % 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
National Beverage (FRA:20V) has a 3-Year ROIIC % of 36.57 as of Apr. 2026. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on National Beverage and its competitors. This is 18% above median its historical median of 31.01. According to the industry distribution chart, National Beverage ranks #19 out of 106 companies in the Beverages - Non-Alcoholic industry, placing it in the top 17.9%.
Is National Beverage's 3-Year ROIIC % too high?
National Beverage's current 3-Year ROIIC % of 36.57 is 18% above median its 10-year median of 31.01. The Beverages - Non-Alcoholic industry median 3-Year ROIIC % is 10.51. National Beverage's value of 36.57 is 248.1% above this industry median. Based on the distribution chart, National Beverage ranks #19 out of 106 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 71/100, reflecting its overall financial health beyond just this single metric.
How does National Beverage's 3-Year ROIIC % compare to COCO and SUJA?
According to the Beverages - Non-Alcoholic industry distribution chart, National Beverage ranks #19 out of 106 companies for 3-Year ROIIC %. This places National Beverage in the top 18% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 10.51. National Beverage's value of 36.57 is 248.1% above this benchmark. While the company's 10-year median is 31.01 vs. the industry median of 10.51, 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 3-Year ROIIC % for a Beverages - Non-Alcoholic company?
The median 3-Year ROIIC % among Beverages - Non-Alcoholic companies is 10.51, based on 106 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Beverage's current 3-Year ROIIC % of 36.57 is 248.1% 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 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on National Beverage and its competitors. For the Beverages - Non-Alcoholic industry, the median 3-Year ROIIC % is 10.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Beverage's current 3-Year ROIIC % is 36.57, which is 18% above median its own 10-year median of 31.01. 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 3-Year ROIIC % of 36.57. The stock's GF Value™ is €38.61, compared to a current price of €26.40 — trading 31.6% below its estimated fair value. The current 3-Year ROIIC % is 36.57, which is 18% above median its 10-year median of 31.01 and 248.1% above the Beverages - Non-Alcoholic industry median of 10.51. National Beverage's overall GF Score™ is 71/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For National Beverage (FRA:20V), the current 3-Year ROIIC % is 36.57 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 €26.40 is trading 31.6% below its estimated GF Value™ of €38.61.
Key valuation signals for FRA:20V:
3-Year ROIIC %: 36.57 (18% above median its 10-year median of 31.01)
GF Value™: €38.61 vs. price of €26.40 (31.6% below fair value)
Industry Position: 248.1% above the Beverages - Non-Alcoholic median (#19 of 106)
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).
71GF Score
Get the complete analysis for FRA:20V
3-Year ROIIC % 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 
