National BeverageFRA:20V -2.19%74 Altman Z-Score is 12.24 as of Jul. 02, 2026, which is 31% below its 10-year median of 17.66. GuruFocus rates FRA:20V with a GF Score™ of 74/100 and a GF Value™ of €39.65. The stock has 2 warning signs investors should review. Among 112 Beverages - Non-Alcoholic companies, National Beverage ranks better than 89.29% on this metric.
The Altman Z-Score is a model designed to predict the likelihood of a company going bankrupt within the next two years. Created by American finance professor Edward Altman in 1968, the model is specifically designed for publicly traded manufacturing companies with assets greater than $1 million.
Good Sign:
Altman Z-score of 12.81 is strong.
National Beverage has a Altman Z-Score of 12.24, indicating it is in Safe Zones. This implies the Altman Z-Score is strong.
The zones of discrimination were as such:
When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.
The historical rank and industry rank for National Beverage's Altman Z-Score or its related term are showing as below:
FRA:20V'
s Altman Z-Score Range Over the Past 10 Years
Min: 10.83 Med: 17.66 Max: 34.41
Current: 12.81
During the past 13 years, National Beverage's highest Altman Z-Score was 34.41. The lowest was 10.83. And the median was 17.66.
National Beverage (FRA:20V) Altman Z-Score Explanation
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.
X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.
Altman Z-Score does not apply to financial companies.
National Beverage Altman Z-Score Related Terms
National Beverage Altman Z-Score Historical Data
* Premium members only.
The historical data trend for National Beverage's Altman Z-Score 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: Altman Z-Score Comparison
For the Beverages - Non-Alcoholic subindustry, National Beverage's Altman Z-Score, along with its competitors' market caps and Altman Z-Score 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 Altman Z-Score vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, National Beverage's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where National Beverage's Altman Z-Score falls into.
Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
National Beverage's Altman Z-Score for today is calculated with this formula:
Z
=
1.2
*
X1
+
1.4
*
X2
+
3.3
*
X3
+
0.6
*
X4
+
1.0
*
X5
=
1.2
*
0.5376
+
1.4
*
0.7062
+
3.3
*
0.2827
+
0.6
*
13.8055
+
1.0
*
1.3872
=
12.24
* 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. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.
National Beverage (FRA:20V) has a Altman Z-Score of 12.24 as of Jul. 02, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on National Beverage and its competitors. This is 31% below median its historical median of 17.66. Over the past decade, National Beverage's Altman Z-Score has ranged from 10.83 to 34.41. According to the industry distribution chart, National Beverage ranks #12 out of 112 companies in the Beverages - Non-Alcoholic industry, placing it in the top 10.7%.
Is National Beverage's Altman Z-Score too high?
National Beverage's current Altman Z-Score of 12.24 is 31% below median its 10-year median of 17.66. Over the past 10 years, this metric has ranged from a low of 10.83 to a high of 34.41. The Beverages - Non-Alcoholic industry median Altman Z-Score is 3.37. National Beverage's value of 12.24 is 263.7% above this industry median. Based on the distribution chart, National Beverage ranks #12 out of 112 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 74/100, reflecting its overall financial health beyond just this single metric.
How does National Beverage's Altman Z-Score compare to COCO and SUJA?
According to the Beverages - Non-Alcoholic industry distribution chart, National Beverage ranks #12 out of 112 companies for Altman Z-Score. This places National Beverage in the top 11% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 3.37. National Beverage's value of 12.24 is 263.7% above this benchmark. Historically, National Beverage's own Altman Z-Score has ranged from 10.83 to 34.41 over the past decade. While the company's 10-year median is 17.66 vs. the industry median of 3.37, 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 Altman Z-Score for a Beverages - Non-Alcoholic company?
The median Altman Z-Score among Beverages - Non-Alcoholic companies is 3.37, based on 112 companies in the industry. Companies in the top quartile (top 25%) have a Altman Z-Score significantly above this median, while those in the bottom quartile fall well below. However, Altman Z-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Beverage's current Altman Z-Score of 12.24 is 263.7% 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 Altman Z-Score mean?
A high Altman Z-Score can signal that a stock is expensive relative to its fundamentals. The Altman Z-score measures a company's bankruptcy risk. View historical data on National Beverage and its competitors. For the Beverages - Non-Alcoholic industry, the median Altman Z-Score is 3.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Beverage's current Altman Z-Score is 12.24, which is 31% below median its own 10-year median of 17.66. 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 Altman Z-Score of 12.24. The stock's GF Value™ is €39.65, compared to a current price of €26.80 — trading 32.4% below its estimated fair value. The current Altman Z-Score is 12.24, which is 31% below median its 10-year median of 17.66 and 263.7% above the Beverages - Non-Alcoholic industry median of 3.37. National Beverage's overall GF Score™ is 74/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Altman Z-Score calculated?
Altman Z-Score is calculated from a company's financial statements. For National Beverage (FRA:20V), the current Altman Z-Score is 12.24 as of Jul. 02, 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 32.4% below its estimated GF Value™ of €39.65.
Key valuation signals for FRA:20V:
Altman Z-Score: 12.24 (31% below median its 10-year median of 17.66)
GF Value™: €39.65 vs. price of €26.80 (32.4% below fair value)
Industry Position: 263.7% above the Beverages - Non-Alcoholic median (#12 of 112)
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).
74GF Score
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