Vita Coco vs National Beverage
National Beverage reported revenue of $1.2 billion in fiscal 2026, 1.9 times Vita Coco's $610 million in fiscal 2025. Vita Coco's revenue grew 18.2% in its latest year, and National Beverage's fell 1.7%. Vita Coco had an operating margin of 13.5%, against 19.5% at National Beverage. Free cash flow was $39 million at Vita Coco and $156 million at National Beverage. Their fiscal years end in different months (December 31 and May 2), so the periods don't line up exactly.
Side by side
| Vita Coco | National Beverage | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2026, May 2, 2026 |
| Revenue | $610M | $1.2B |
| Revenue growth | 18.2% | −1.7% |
| Revenue growth a year, last 5 years | 14.4% | 1.9% |
| Gross margin | 36.5% | 37.0% |
| Operating margin | 13.5% | 19.5% |
| Net margin | 11.7% | 15.6% |
| Free cash flow | $39M | $156M |
| Free cash flow margin | 6.4% | 13.2% |
| Return on capital | 55.3% | 65.5% |
| Net debt to EBITDA | −2.4x | −1.4x |
| Dividends and buybacks | $11M | $1M |
| Change in diluted share count | 1.1% | −0.0% |
| Last close | $55.80 | $35.82 |
| P/E at the last close | 28.0× | 19.3× |
| Insider trades, last 12 months | sold $88.8 million | bought $7,945, sold $0 |
| Piotroski F-score | 5 of 9 | 7 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Vita CocoNational Beverage
Operating margin
Percent of revenue
Vita CocoNational Beverage
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Vita CocoNational Beverage
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Vita Coco and National Beverage pages.