<p>National Beverage (FIZZ) 刚刚发布了一个季度的财报，销售额和箱量有所下降，尽管定价和产品组合推动了利润的增长。这是一个混合的更新，有助于解释近期对该股票的压力。</p>
<p>查看我们对 National Beverage 的最新分析。</p>
<p>投资者一直在重新评估这种韧性，目前股价为 33.85 美元，年初至今股价回报为负 20.17%，而 12 个月的总股东回报为负 27.03%。这表明尽管价格组合有所改善，持续的回购，动能仍在减弱。</p>
<p>如果这种谨慎的局面让你在比较机会，现在可能是扫描高内部持股的快速增长股票的好时机，以寻找其他更具信心的快速移动公司。</p>
<p>随着股价大幅下跌，利润持平，且与分析师目标价仅有适度折扣，投资者现在面临一个关键问题：National Beverage 是逆势价值投资，还是市场已经在定价其增长前景？</p>
<h2>17 倍市盈率：是否合理？</h2>
<p>从表面上看，National Beverage 的市盈率为 17 倍，这在其最后收盘价为 33.85 美元和近期股价疲软的情况下显得适中。</p>
<p>市盈率比较了投资者今天为每一美元当前收益支付的价格，是品牌饮料公司常用的衡量标准，具有稳定的现金生成特征。对于一家成熟企业，利润增长在中个位数，且利润率稳定，中位数的市盈率表明市场并未预期激进的加速增长，但也未在定价结构性下降。</p>
<p>与同行相比，这 17 倍的市盈率看起来并不苛刻，同行平均为 27.1 倍，全球饮料行业为 17.6 倍。这意味着投资者对公司高股本回报和持续盈利能力的溢价很小。如果市场情绪稳定或收入增长有所上升，同行估值之间的差距可能会缩小，因为市场重新评估 FIZZ 品牌组合的合理收益倍数。</p>
<p>查看数字对这个价格的看法——在我们的估值分析中找出答案。</p>
<p><strong>结果：17 倍市盈率（被低估）</strong></p>
<p>然而，持续的销量下降或消费者向竞争饮料的更大转变可能会使 FIZZ 陷入低增长的困境，尽管其看似适中的估值。</p>
<p>了解 National Beverage 叙述中的关键风险。</p>
<h2>价值的另一种角度</h2>
<p>我们的 DCF 模型将 National Beverage 的公允价值定在接近 42.14 美元，约高于当前 33.85 美元股价的 19.7%。这也指向被低估，但从现金流的角度来看。如果收益和现金流都显示便宜，投资者还在等待什么催化剂？</p>
<p>了解 SWS DCF 模型如何得出其公允价值。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/21765102-4b4f-4a83-8d50-309c099fc954/chart/dcf?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/21765102-4b4f-4a83-8d50-309c099fc954/chart/dcf"/></p>
<p>截至 2025 年 12 月的 FIZZ 折现现金流</p>
<p>Simply Wall St 每天对全球每只股票进行折现现金流（DCF）分析（例如查看 National Beverage）。我们展示了完整的计算过程。您可以在您的观察列表或投资组合中跟踪结果，并在变化时收到提醒，或者使用我们的股票筛选器发现 907 只基于现金流的被低估股票。如果您保存了筛选器，我们甚至会在新公司匹配时提醒您——这样您就不会错过潜在机会。</p>
<h2>构建您自己的 National Beverage 叙述</h2>
<p>如果您更愿意自己深入数字并得出自己的结论，您可以在几分钟内构建一个自定义视图：按您的方式进行。</p>
<p>一个好的起点是我们的分析，强调投资者对 National Beverage 的 2 个关键回报的乐观情绪。</p>
<h2>寻找更多投资想法？</h2>
<p>在您继续之前，使用 Simply Wall Street 筛选器锁定一些新角度，以便您不会错过明天的赢家。</p>
<ul>
<li>通过针对这些 907 只基于现金流的被低估股票，捕捉潜在的反转机会，提前布局任何重新评级。</li>
<li>通过扫描这 30 只医疗保健 AI 股票，利用世俗增长，寻找使用人工智能转变诊断、治疗路径和医疗效率的创新者。</li>
<li>通过审查这 13 只收益率 &gt; 3% 的股息股票，抓住收入机会，关注那些将吸引收益与维持和增长分红能力相结合的企业。</li>
</ul>
<p><em>这篇文章由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 这并不构成买入或卖出任何股票的推荐，也未考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
<p>移动基础设施用于国防和灾难</p>
<p>机器人技术的下一个浪潮不是类人机器人，而是完全自主的塔楼，在 30 分钟内提供 5G、ISR 和雷达，随处可用。</p>
<p>在下一轮合同之前获取投资者简报</p>
<p>代表 CiTech 赞助</p>

FIZZ

<p>National Beverage (FIZZ) 发布了业绩参差不齐的财报，尽管由于定价和产品组合的改善利润有所上升，但销售和销量却在下降。该股票面临压力，17 倍的市盈率在同行中被认为是适中的。折现现金流模型显示该股票被低估，合理价值为 42.14 美元。投资者在销量下降和竞争加剧的背景下重新评估其增长前景。Simply Wall St 提供分析，但不提供财务建议</p>

<p>National Beverage (FIZZ) just posted a quarter where sales and case volume slipped, even as pricing and mix nudged profits higher. It was a mixed update that helps explain the recent pressure on the stock.</p>
<div class="lb-trans"><p>National Beverage (FIZZ) 刚刚发布了一个季度的财报，销售额和箱量有所下降，尽管定价和产品组合推动了利润的增长。这是一个混合的更新，有助于解释近期对该股票的压力。</p>
</div><p>See our latest analysis for National Beverage.</p>
<div class="lb-trans"><p>查看我们对 National Beverage 的最新分析。</p>
</div><p>Investors have been reassessing that resilience, with the share price at $33.85 and a year to date share price return of negative 20.17% alongside a 12 month total shareholder return of negative 27.03%. This suggests momentum is still fading despite price mix gains and ongoing buybacks.</p>
<div class="lb-trans"><p>投资者一直在重新评估这种韧性，目前股价为 33.85 美元，年初至今股价回报为负 20.17%，而 12 个月的总股东回报为负 27.03%。这表明尽管价格组合有所改善，持续的回购，动能仍在减弱。</p>
</div><p>If this cautious setup has you comparing opportunities, it could be a good moment to scan fast growing stocks with high insider ownership for other fast moving names with more conviction behind them.</p>
<div class="lb-trans"><p>如果这种谨慎的局面让你在比较机会，现在可能是扫描高内部持股的快速增长股票的好时机，以寻找其他更具信心的快速移动公司。</p>
</div><p>With shares down sharply, profits flat and only a modest discount to analyst targets, investors now face a key question: is National Beverage a contrarian value play, or is the market already pricing in its growth prospects?</p>
<div class="lb-trans"><p>随着股价大幅下跌，利润持平，且与分析师目标价仅有适度折扣，投资者现在面临一个关键问题：National Beverage 是逆势价值投资，还是市场已经在定价其增长前景？</p>
</div><h2>Price-to-Earnings of 17x: Is it justified?</h2>
<div class="lb-trans"><h2>17 倍市盈率：是否合理？</h2>
</div><p>On a headline basis, National Beverage trades on a 17x price to earnings multiple, which looks modest given its last close at $33.85 and recent share price weakness.</p>
<div class="lb-trans"><p>从表面上看，National Beverage 的市盈率为 17 倍，这在其最后收盘价为 33.85 美元和近期股价疲软的情况下显得适中。</p>
</div><p>The price to earnings ratio compares what investors pay today to each dollar of current earnings and is a common yardstick for branded beverage companies with steady, cash generative profiles. For a mature business with mid single digit profit growth and resilient margins, a mid teens multiple suggests the market is not baking in aggressive acceleration, but also not pricing in a structural decline.</p>
<div class="lb-trans"><p>市盈率比较了投资者今天为每一美元当前收益支付的价格，是品牌饮料公司常用的衡量标准，具有稳定的现金生成特征。对于一家成熟企业，利润增长在中个位数，且利润率稳定，中位数的市盈率表明市场并未预期激进的加速增长，但也未在定价结构性下降。</p>
</div><p>Against peers, that 17x multiple looks undemanding compared both to the peer group average of 27.1x and the broader global beverage industry at 17.6x. This implies investors are assigning little premium for the company’s high return on equity and consistent profitability. If sentiment stabilises or revenue growth nudges higher, the gap to peer valuations could narrow as the market reassesses what a fair earnings multiple should be for FIZZ’s brand portfolio.</p>
<div class="lb-trans"><p>与同行相比，这 17 倍的市盈率看起来并不苛刻，同行平均为 27.1 倍，全球饮料行业为 17.6 倍。这意味着投资者对公司高股本回报和持续盈利能力的溢价很小。如果市场情绪稳定或收入增长有所上升，同行估值之间的差距可能会缩小，因为市场重新评估 FIZZ 品牌组合的合理收益倍数。</p>
</div><p>See what the numbers say about this price — find out in our valuation breakdown.</p>
<div class="lb-trans"><p>查看数字对这个价格的看法——在我们的估值分析中找出答案。</p>
</div><p><strong>Result: Price-to-Earnings of 17x (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：17 倍市盈率（被低估）</strong></p>
</div><p>However, sustained volume declines or a sharper consumer shift toward competing beverages could leave FIZZ stuck with low growth despite its seemingly modest valuation.</p>
<div class="lb-trans"><p>然而，持续的销量下降或消费者向竞争饮料的更大转变可能会使 FIZZ 陷入低增长的困境，尽管其看似适中的估值。</p>
</div><p>Find out about the key risks to this National Beverage narrative.</p>
<div class="lb-trans"><p>了解 National Beverage 叙述中的关键风险。</p>
</div><h2>Another Angle on Value</h2>
<div class="lb-trans"><h2>价值的另一种角度</h2>
</div><p>Our DCF model puts fair value for National Beverage nearer $42.14, around 19.7% above the current $33.85 share price. That also points to undervaluation, but from a cash flow lens. If both earnings and cash flows say cheap, what catalyst are investors still waiting for?</p>
<div class="lb-trans"><p>我们的 DCF 模型将 National Beverage 的公允价值定在接近 42.14 美元，约高于当前 33.85 美元股价的 19.7%。这也指向被低估，但从现金流的角度来看。如果收益和现金流都显示便宜，投资者还在等待什么催化剂？</p>
</div><p>Look into how the SWS DCF model arrives at its fair value.</p>
<div class="lb-trans"><p>了解 SWS DCF 模型如何得出其公允价值。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/21765102-4b4f-4a83-8d50-309c099fc954/chart/dcf" alt="" original-src="https://images.simplywall.st/company/21765102-4b4f-4a83-8d50-309c099fc954/chart/dcf"/></p>
<p>FIZZ Discounted Cash Flow as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 FIZZ 折现现金流</p>
</div><p>Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out National Beverage for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 907 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.</p>
<div class="lb-trans"><p>Simply Wall St 每天对全球每只股票进行折现现金流（DCF）分析（例如查看 National Beverage）。我们展示了完整的计算过程。您可以在您的观察列表或投资组合中跟踪结果，并在变化时收到提醒，或者使用我们的股票筛选器发现 907 只基于现金流的被低估股票。如果您保存了筛选器，我们甚至会在新公司匹配时提醒您——这样您就不会错过潜在机会。</p>
</div><h2>Build Your Own National Beverage Narrative</h2>
<div class="lb-trans"><h2>构建您自己的 National Beverage 叙述</h2>
</div><p>If you would rather dig into the numbers yourself and draw your own conclusions, you can build a customised view in just a few minutes: Do it your way.</p>
<div class="lb-trans"><p>如果您更愿意自己深入数字并得出自己的结论，您可以在几分钟内构建一个自定义视图：按您的方式进行。</p>
</div><p>A good starting point is our analysis highlighting 2 key rewards investors are optimistic about regarding National Beverage.</p>
<div class="lb-trans"><p>一个好的起点是我们的分析，强调投资者对 National Beverage 的 2 个关键回报的乐观情绪。</p>
</div><h2>Looking for more investment ideas?</h2>
<div class="lb-trans"><h2>寻找更多投资想法？</h2>
</div><p>Before you move on, lock in a few fresh angles for your watchlist using the Simply Wall Street Screener so you do not miss tomorrow’s winners.</p>
<div class="lb-trans"><p>在您继续之前，使用 Simply Wall Street 筛选器锁定一些新角度，以便您不会错过明天的赢家。</p>
</div><ul>
<li>Capture potential turnaround plays by targeting companies trading below their cash flow value through these 907 undervalued stocks based on cash flows and position yourself early in any re-rating.</li>
<li>Tap into secular growth by scanning these 30 healthcare AI stocks for innovators using artificial intelligence to transform diagnostics, treatment pathways, and medical efficiency.</li>
<li>Capitalize on income opportunities by reviewing these 13 dividend stocks with yields &gt; 3% and focus on businesses pairing attractive yields with the capacity to sustain and grow payouts.</li>
</ul>
<div class="lb-trans"><ul>
<li>通过针对这些 907 只基于现金流的被低估股票，捕捉潜在的反转机会，提前布局任何重新评级。</li>
<li>通过扫描这 30 只医疗保健 AI 股票，利用世俗增长，寻找使用人工智能转变诊断、治疗路径和医疗效率的创新者。</li>
<li>通过审查这 13 只收益率 &gt; 3% 的股息股票，抓住收入机会，关注那些将吸引收益与维持和增长分红能力相结合的企业。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>这篇文章由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 这并不构成买入或卖出任何股票的推荐，也未考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
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<div class="lb-trans"><p>移动基础设施用于国防和灾难</p>
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<div class="lb-trans"><p>机器人技术的下一个浪潮不是类人机器人，而是完全自主的塔楼，在 30 分钟内提供 5G、ISR 和雷达，随处可用。</p>
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<div class="lb-trans"><p>在下一轮合同之前获取投资者简报</p>
</div><p>Sponsored On Behalf of CiTech</p>
<div class="lb-trans"><p>代表 CiTech 赞助</p>
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在 National Beverage（FIZZ）收益疲软后重新评估：该股票的估值是否反映了其销量的下降？