Zevia PBC (ZVIA) 10-Year Financial Performance & Capital Metrics

ZVIA •

Consumer DefensiveNon-Alcoholic BeveragesGlobal Soft Drink Brand Owners

AboutZevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated and non-carbonated soft drinks in the United States and Canada. It offers soda, energy drinks, organic tea, mixers, kidz beverages, and sparkling water. The company offers its products through various retail channels, including grocery distributors, national retailers, warehouse club, and natural products retailers, as well as e-commerce channels. It provides its products under the Zevia brand name. The company was founded in 2007 and is headquartered in Encino, California.Show more

Revenue $161M +4.0%
EBITDA -$11M +51.1%
Net Income -$10M +50.4%
EPS (Diluted) -0.15 +55.9%
Gross Margin 48.01% +3.5%
EBITDA Margin -6.77% +53.0%
Operating Margin -7.31% +52.1%
Net Margin -6.15% +52.3%
ROE -25.26% +33.9%
ROIC -72.12% +7.8%
Debt/Equity 0.02 -38.6%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Efficient asset utilization: 2.5x turnover

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 7 (bottom 7%)
✗Low quality earnings: Net income not backed by cash flow
✗Shares diluted 12.5% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y7.95%

3Y-0.39%

TTM4.01%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM50.41%

EPS CAGR

10Y-

5Y-

3Y-

TTM54.55%

ROCE

10Y Avg-48.38%

5Y Avg-57.96%

3Y Avg-37.98%

Latest-29.72%

Peer Comparison

Global Soft Drink Brand Owners

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PEPPepsiCo, Inc.	231.98B	169.74	28.29	2.25%	8.77%	40.1%	3.31%	2.43
KOThe Coca-Cola Company	350.84B	81.56	26.83	1.87%	27.34%	38.24%	1.51%	1.33
FIZZNational Beverage Corp.	3.4B	36.35	18.27	0.81%	15.45%	36.86%	5.01%	0.16
ZVIAZevia PBC	10.2M	1.34	-8.93	4.01%	-6.15%	-27.86%		0.02

Profit & Loss

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	85.56M	110.03M	138.17M	163.18M	166.42M	155.05M	161.26M
Revenue Growth %	-	28.59%	25.58%	18.1%	1.99%	-6.83%	4.01%
Cost of Goods Sold+	48.66M	60.52M	74.23M	93.16M	91.67M	83.12M	83.84M
COGS % of Revenue	56.87%	55.01%	53.72%	57.09%	55.08%	53.61%	51.99%
Gross Profit+	36.9M	49.5M	63.94M	70.02M	74.76M	71.93M	77.42M
Gross Margin %	43.13%	44.99%	46.28%	42.91%	44.92%	46.39%	48.01%
Gross Profit Growth %	-	34.15%	29.17%	9.51%	6.77%	-3.78%	7.63%
Operating Expenses+	42.35M	54.98M	151.37M	117.89M	103.7M	95.58M	82.41M
OpEx % of Revenue	49.5%	49.97%	109.55%	72.24%	62.31%	61.65%	51.1%
Selling, General & Admin	41.57M	54.05M	150.37M	116.54M	102.09M	92.12M	82.41M
SG&A % of Revenue	48.58%	49.12%	108.83%	71.42%	61.34%	59.41%	51.1%
Research & Development	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-
Other Operating Expenses	786K	932K	997K	1.35M	1.61M	3.47M	0
Operating Income+	-5.45M	-5.48M	-87.43M	-47.87M	-28.94M	-23.65M	-11.79M
Operating Margin %	-6.37%	-4.98%	-63.27%	-29.33%	-17.39%	-15.26%	-7.31%
Operating Income Growth %	-	-0.44%	-1495.95%	45.25%	39.54%	18.27%	50.16%
EBITDA+	-4.67M	-4.55M	-86.43M	-46.52M	-27.33M	-22.32M	-10.92M
EBITDA Margin %	-5.46%	-4.13%	-62.55%	-28.51%	-16.42%	-14.4%	-6.77%
EBITDA Growth %	-	2.61%	-1801.21%	46.17%	41.26%	18.31%	51.08%
D&A (Non-Cash Add-back)	786K	932K	997K	1.35M	1.61M	1.33M	868K
EBIT	-5.45M	-5.48M	-87.43M	-47.87M	-28.94M	-21.52M	0
Net Interest Income+	0	0	0	0	0	0	0
Interest Income	0	0	0	0	0	0	0
Interest Expense	0	0	0	0	0	0	0
Other Income/Expense	47K	-593K	-207K	286K	673K	-63K	678K
Pretax Income+	-5.41M	-6.07M	-87.63M	-47.58M	-28.27M	-23.72M	-11.11M
Pretax Margin %	-6.32%	-5.52%	-63.42%	-29.16%	-16.99%	-15.3%	-6.89%
Income Tax+	0	0	34K	65K	52K	66K	54K
Effective Tax Rate %	100%	100%	54.66%	71.16%	76.03%	84.35%	89.27%
Net Income+	-5.41M	-6.07M	-47.9M	-33.86M	-21.49M	-20M	-9.92M
Net Margin %	-6.32%	-5.52%	-34.67%	-20.75%	-12.92%	-12.9%	-6.15%
Net Income Growth %	-	-12.28%	-688.98%	29.32%	36.52%	6.93%	50.41%
Net Income (Continuing)	-5.41M	-6.07M	-87.67M	-47.65M	-28.32M	-23.78M	-9.92M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	-23.92M	-28.16M	-28.11M	-21.93M	-15.44M
EPS (Diluted)+	-0.08	-0.09	-2.54	-1.10	-0.41	-0.34	-0.15
EPS Growth %	-	-14.2%	-2599.26%	56.69%	62.73%	17.07%	55.88%
EPS (Basic)	-0.08	-0.09	-2.54	-1.10	-0.41	-0.34	-0.15
Diluted Shares Outstanding	65.61M	64.53M	34.46M	43.47M	50.62M	58.68M	66.02M
Basic Shares Outstanding	65.61M	64.53M	34.46M	43.47M	50.62M	58.68M	66.02M
Dividend Payout Ratio	-	-	-	-	-	-	-

Balance Sheet

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	20.81M	44.17M	117.08M	88.66M	82.69M	61.91M	58.22M
Cash & Short-Term Investments	3.24M	14.94M	73.11M	47.4M	31.95M	30.65M	25.35M
Cash Only	3.24M	14.94M	43.11M	47.4M	31.95M	30.65M	25.35M
Short-Term Investments	0	0	30M	0	0	0	0
Accounts Receivable	4.88M	6.94M	9.05M	11.08M	11.12M	10.79M	11.11M
Days Sales Outstanding	20.8	23.04	23.9	24.78	24.39	25.41	25.14
Inventory	11.39M	20.8M	31.5M	27.58M	34.55M	18.62M	20.39M
Days Inventory Outstanding	85.45	125.44	154.89	108.04	137.57	81.76	88.78
Other Current Assets	0	0	0	2.61M	5.06M	0	1.37M
Total Non-Current Assets+	6.45M	5.78M	7.91M	10.27M	8.17M	6.04M	5.4M
Property, Plant & Equipment	2.2M	1.76M	3.38M	5.35M	4.07M	2.36M	1.42M
Fixed Asset Turnover	38.86x	62.37x	40.88x	30.51x	40.91x	65.70x	113.88x
Goodwill	0	0	0	0	0	0	0
Intangible Assets	4.14M	3.94M	4.23M	4.38M	3.52M	3.18M	3.13M
Long-Term Investments	0	0	0	0	0	0	0
Other Non-Current Assets	112K	81K	301K	539K	579K	503K	849K
Total Assets+	27.27M	49.96M	124.99M	98.93M	90.86M	67.95M	63.62M
Asset Turnover	3.14x	2.20x	1.11x	1.65x	1.83x	2.28x	2.53x
Asset Growth %	-	83.21%	150.21%	-20.85%	-8.16%	-25.21%	-6.37%
Total Current Liabilities+	8.35M	14.07M	20.43M	17.15M	27.72M	24.22M	28.02M
Accounts Payable	5.6M	8.97M	13.49M	8.02M	21.17M	15.29M	17.57M
Days Payables Outstanding	41.98	54.1	66.34	31.43	84.29	67.16	76.47
Short-Term Debt	0	0	0	0	0	0	668K
Deferred Revenue (Current)	0	0	0	0	0	0	0
Other Current Liabilities	1.58M	3.59M	3.03M	3.41M	4.45M	1.55M	9.79M
Current Ratio	2.49x	3.14x	5.73x	5.17x	2.98x	2.56x	2.08x
Quick Ratio	1.13x	1.66x	4.19x	3.56x	1.74x	1.79x	1.35x
Cash Conversion Cycle	64.26	94.37	112.45	101.39	77.67	40	37.45
Total Non-Current Liabilities+	58.89M	232.69M	1K	0	1.37M	784K	0
Long-Term Debt	0	0	0	0	0	0	0
Capital Lease Obligations	850K	238K	1K	0	1.37M	726K	0
Deferred Tax Liabilities	0	0	0	0	0	0	0
Other Non-Current Liabilities	58.04M	232.46M	0	0	0	58K	0
Total Liabilities	67.24M	246.77M	20.43M	17.15M	29.09M	25.01M	28.02M
Total Debt+	1.28M	861K	237K	715K	1.95M	1.31M	668K
Net Debt	-1.97M	-14.07M	-42.87M	-46.68M	-30.01M	-29.34M	-24.69M
Debt / Equity	-	-	0.00x	0.01x	0.03x	0.03x	0.02x
Debt / EBITDA	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-	-	-	-
Total Equity+	-39.97M	-196.81M	104.56M	81.79M	61.77M	42.95M	35.6M
Equity Growth %	-	-392.41%	153.13%	-21.78%	-24.48%	-30.47%	-17.1%
Book Value per Share	-0.61	-3.05	3.03	1.88	1.22	0.73	0.54
Total Shareholders' Equity	-39.97M	-196.81M	128.48M	109.95M	89.88M	64.88M	51.04M
Common Stock	1.81M	0	64K	70K	71K	73K	75K
Retained Earnings	-43.09M	0	-45.99M	-79.84M	-101.34M	-121.34M	-131.26M
Treasury Stock	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0
Minority Interest	0	0	-23.92M	-28.16M	-28.11M	-21.93M	-15.44M

Cash Flow

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	-14.76M	-3.26M	-17.81M	-21.11M	-16.27M	-1.02M	-4.7M
Operating CF Margin %	-17.26%	-2.96%	-12.89%	-12.94%	-9.78%	-0.66%	-2.92%
Operating CF Growth %	-	77.93%	-446.53%	-18.57%	22.92%	93.74%	-361.53%
Net Income	-5.41M	-6.07M	-87.67M	-33.86M	-28.32M	-23.78M	-9.92M
Depreciation & Amortization	786K	932K	997K	2M	1.61M	1.33M	868K
Stock-Based Compensation	606K	7.87M	77.72M	0	8.28M	4.96M	3.76M
Deferred Taxes	0	0	0	0	0	0	0
Other Non-Cash Items	106K	563K	652K	12.82M	1.12M	1.07M	586K
Working Capital Changes	-10.86M	-6.55M	-9.51M	-2.08M	1.03M	15.4M	0
Change in Receivables	-1.16M	-2.07M	-2.06M	-2.03M	-42K	324K	-311K
Change in Inventory	-3.11M	-9.41M	-10.7M	3.92M	-6.97M	15.93M	-1.77M
Change in Payables	-5.72M	2.37M	4.4M	-5.85M	13.64M	-5.86M	2.01M
Cash from Investing+	-456K	-805K	-33.14M	27.41M	805K	-283K	-307K
Capital Expenditures	-456K	-805K	-3.14M	-2.59M	-1.62M	-283K	-307K
CapEx % of Revenue	0.53%	0.73%	2.27%	1.59%	0.98%	0.18%	0.19%
Acquisitions	0	0	0	0	0	0	0
Investments	-	-	-	-	-	-	-
Other Investing	0	0	0	0	2.43M	0	0
Cash from Financing+	17.09M	15.76M	79.12M	-2.01M	25K	0	-289K
Debt Issued (Net)	0	0	0	0	0	0	0
Equity Issued (Net)	1000K	1000K	1000K	124K	0	0	0
Dividends Paid	0	0	-2.67M	0	0	0	0
Share Repurchases	0	-175M	-49.63M	0	0	0	0
Other Financing	-44K	-20K	-8.28M	-2.13M	25K	0	-289K
Net Change in Cash	1.87M	11.69M	28.17M	4.29M	-15.44M	-1.3M	-5.3M
Free Cash Flow+	-15.22M	-4.06M	-20.95M	-23.7M	-17.9M	-1.3M	-5.01M
FCF Margin %	-17.79%	-3.69%	-15.16%	-14.53%	-10.75%	-0.84%	-3.11%
FCF Growth %	-	73.3%	-415.6%	-13.16%	24.5%	92.73%	-284.79%
FCF per Share	-0.23	-0.06	-0.61	-0.55	-0.35	-0.02	-0.08
FCF Conversion (FCF/Net Income)	2.73x	0.54x	0.37x	0.62x	0.76x	0.05x	0.47x
Interest Paid	288K	321K	148K	0	79K	93K	0
Taxes Paid	0	0	0	0	127K	85K	0

Key Ratios

Metric	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-	-	-45.81%	-36.34%	-29.95%	-38.21%	-25.26%
Return on Invested Capital (ROIC)	-	-	-106.3%	-74.18%	-64.93%	-78.21%	-72.12%
Gross Margin	43.13%	44.99%	46.28%	42.91%	44.92%	46.39%	48.01%
Net Margin	-6.32%	-5.52%	-34.67%	-20.75%	-12.92%	-12.9%	-6.15%
Debt / Equity	-	-	0.00x	0.01x	0.03x	0.03x	0.02x
FCF Conversion	2.73x	0.54x	0.37x	0.62x	0.76x	0.05x	0.47x
Revenue Growth	-	28.59%	25.58%	18.1%	1.99%	-6.83%	4.01%

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Zevia PBC (ZVIA) 10-Year Financial Performance & Capital Metrics

ZVIA •

Consumer DefensiveNon-Alcoholic BeveragesGlobal Soft Drink Brand Owners

Revenue $161M +4.0%
EBITDA -$11M +51.1%
Net Income -$10M +50.4%
EPS (Diluted) -0.15 +55.9%
Gross Margin 48.01% +3.5%
EBITDA Margin -6.77% +53.0%
Operating Margin -7.31% +52.1%
Net Margin -6.15% +52.3%
ROE -25.26% +33.9%
ROIC -72.12% +7.8%
Debt/Equity 0.02 -38.6%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Efficient asset utilization: 2.5x turnover

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 7 (bottom 7%)
✗Low quality earnings: Net income not backed by cash flow
✗Shares diluted 12.5% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y7.95%

3Y-0.39%

TTM4.01%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM50.41%

EPS CAGR

10Y-

5Y-

3Y-

TTM54.55%

ROCE

10Y Avg-48.38%

5Y Avg-57.96%

3Y Avg-37.98%

Latest-29.72%

Peer Comparison

Global Soft Drink Brand Owners

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PEPPepsiCo, Inc.	231.98B	169.74	28.29	2.25%	8.77%	40.1%	3.31%	2.43
KOThe Coca-Cola Company	350.84B	81.56	26.83	1.87%	27.34%	38.24%	1.51%	1.33
FIZZNational Beverage Corp.	3.4B	36.35	18.27	0.81%	15.45%	36.86%	5.01%	0.16
ZVIAZevia PBC	10.2M	1.34	-8.93	4.01%	-6.15%	-27.86%		0.02

Profit & Loss

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	85.56M	110.03M	138.17M	163.18M	166.42M	155.05M	161.26M
Revenue Growth %	-	28.59%	25.58%	18.1%	1.99%	-6.83%	4.01%
Cost of Goods Sold+	48.66M	60.52M	74.23M	93.16M	91.67M	83.12M	83.84M
COGS % of Revenue	56.87%	55.01%	53.72%	57.09%	55.08%	53.61%	51.99%
Gross Profit+	36.9M	49.5M	63.94M	70.02M	74.76M	71.93M	77.42M
Gross Margin %	43.13%	44.99%	46.28%	42.91%	44.92%	46.39%	48.01%
Gross Profit Growth %	-	34.15%	29.17%	9.51%	6.77%	-3.78%	7.63%
Operating Expenses+	42.35M	54.98M	151.37M	117.89M	103.7M	95.58M	82.41M
OpEx % of Revenue	49.5%	49.97%	109.55%	72.24%	62.31%	61.65%	51.1%
Selling, General & Admin	41.57M	54.05M	150.37M	116.54M	102.09M	92.12M	82.41M
SG&A % of Revenue	48.58%	49.12%	108.83%	71.42%	61.34%	59.41%	51.1%
Research & Development	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-
Other Operating Expenses	786K	932K	997K	1.35M	1.61M	3.47M	0
Operating Income+	-5.45M	-5.48M	-87.43M	-47.87M	-28.94M	-23.65M	-11.79M
Operating Margin %	-6.37%	-4.98%	-63.27%	-29.33%	-17.39%	-15.26%	-7.31%
Operating Income Growth %	-	-0.44%	-1495.95%	45.25%	39.54%	18.27%	50.16%
EBITDA+	-4.67M	-4.55M	-86.43M	-46.52M	-27.33M	-22.32M	-10.92M
EBITDA Margin %	-5.46%	-4.13%	-62.55%	-28.51%	-16.42%	-14.4%	-6.77%
EBITDA Growth %	-	2.61%	-1801.21%	46.17%	41.26%	18.31%	51.08%
D&A (Non-Cash Add-back)	786K	932K	997K	1.35M	1.61M	1.33M	868K
EBIT	-5.45M	-5.48M	-87.43M	-47.87M	-28.94M	-21.52M	0
Net Interest Income+	0	0	0	0	0	0	0
Interest Income	0	0	0	0	0	0	0
Interest Expense	0	0	0	0	0	0	0
Other Income/Expense	47K	-593K	-207K	286K	673K	-63K	678K
Pretax Income+	-5.41M	-6.07M	-87.63M	-47.58M	-28.27M	-23.72M	-11.11M
Pretax Margin %	-6.32%	-5.52%	-63.42%	-29.16%	-16.99%	-15.3%	-6.89%
Income Tax+	0	0	34K	65K	52K	66K	54K
Effective Tax Rate %	100%	100%	54.66%	71.16%	76.03%	84.35%	89.27%
Net Income+	-5.41M	-6.07M	-47.9M	-33.86M	-21.49M	-20M	-9.92M
Net Margin %	-6.32%	-5.52%	-34.67%	-20.75%	-12.92%	-12.9%	-6.15%
Net Income Growth %	-	-12.28%	-688.98%	29.32%	36.52%	6.93%	50.41%
Net Income (Continuing)	-5.41M	-6.07M	-87.67M	-47.65M	-28.32M	-23.78M	-9.92M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	-23.92M	-28.16M	-28.11M	-21.93M	-15.44M
EPS (Diluted)+	-0.08	-0.09	-2.54	-1.10	-0.41	-0.34	-0.15
EPS Growth %	-	-14.2%	-2599.26%	56.69%	62.73%	17.07%	55.88%
EPS (Basic)	-0.08	-0.09	-2.54	-1.10	-0.41	-0.34	-0.15
Diluted Shares Outstanding	65.61M	64.53M	34.46M	43.47M	50.62M	58.68M	66.02M
Basic Shares Outstanding	65.61M	64.53M	34.46M	43.47M	50.62M	58.68M	66.02M
Dividend Payout Ratio	-	-	-	-	-	-	-

Balance Sheet

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	20.81M	44.17M	117.08M	88.66M	82.69M	61.91M	58.22M
Cash & Short-Term Investments	3.24M	14.94M	73.11M	47.4M	31.95M	30.65M	25.35M
Cash Only	3.24M	14.94M	43.11M	47.4M	31.95M	30.65M	25.35M
Short-Term Investments	0	0	30M	0	0	0	0
Accounts Receivable	4.88M	6.94M	9.05M	11.08M	11.12M	10.79M	11.11M
Days Sales Outstanding	20.8	23.04	23.9	24.78	24.39	25.41	25.14
Inventory	11.39M	20.8M	31.5M	27.58M	34.55M	18.62M	20.39M
Days Inventory Outstanding	85.45	125.44	154.89	108.04	137.57	81.76	88.78
Other Current Assets	0	0	0	2.61M	5.06M	0	1.37M
Total Non-Current Assets+	6.45M	5.78M	7.91M	10.27M	8.17M	6.04M	5.4M
Property, Plant & Equipment	2.2M	1.76M	3.38M	5.35M	4.07M	2.36M	1.42M
Fixed Asset Turnover	38.86x	62.37x	40.88x	30.51x	40.91x	65.70x	113.88x
Goodwill	0	0	0	0	0	0	0
Intangible Assets	4.14M	3.94M	4.23M	4.38M	3.52M	3.18M	3.13M
Long-Term Investments	0	0	0	0	0	0	0
Other Non-Current Assets	112K	81K	301K	539K	579K	503K	849K
Total Assets+	27.27M	49.96M	124.99M	98.93M	90.86M	67.95M	63.62M
Asset Turnover	3.14x	2.20x	1.11x	1.65x	1.83x	2.28x	2.53x
Asset Growth %	-	83.21%	150.21%	-20.85%	-8.16%	-25.21%	-6.37%
Total Current Liabilities+	8.35M	14.07M	20.43M	17.15M	27.72M	24.22M	28.02M
Accounts Payable	5.6M	8.97M	13.49M	8.02M	21.17M	15.29M	17.57M
Days Payables Outstanding	41.98	54.1	66.34	31.43	84.29	67.16	76.47
Short-Term Debt	0	0	0	0	0	0	668K
Deferred Revenue (Current)	0	0	0	0	0	0	0
Other Current Liabilities	1.58M	3.59M	3.03M	3.41M	4.45M	1.55M	9.79M
Current Ratio	2.49x	3.14x	5.73x	5.17x	2.98x	2.56x	2.08x
Quick Ratio	1.13x	1.66x	4.19x	3.56x	1.74x	1.79x	1.35x
Cash Conversion Cycle	64.26	94.37	112.45	101.39	77.67	40	37.45
Total Non-Current Liabilities+	58.89M	232.69M	1K	0	1.37M	784K	0
Long-Term Debt	0	0	0	0	0	0	0
Capital Lease Obligations	850K	238K	1K	0	1.37M	726K	0
Deferred Tax Liabilities	0	0	0	0	0	0	0
Other Non-Current Liabilities	58.04M	232.46M	0	0	0	58K	0
Total Liabilities	67.24M	246.77M	20.43M	17.15M	29.09M	25.01M	28.02M
Total Debt+	1.28M	861K	237K	715K	1.95M	1.31M	668K
Net Debt	-1.97M	-14.07M	-42.87M	-46.68M	-30.01M	-29.34M	-24.69M
Debt / Equity	-	-	0.00x	0.01x	0.03x	0.03x	0.02x
Debt / EBITDA	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-	-	-	-
Total Equity+	-39.97M	-196.81M	104.56M	81.79M	61.77M	42.95M	35.6M
Equity Growth %	-	-392.41%	153.13%	-21.78%	-24.48%	-30.47%	-17.1%
Book Value per Share	-0.61	-3.05	3.03	1.88	1.22	0.73	0.54
Total Shareholders' Equity	-39.97M	-196.81M	128.48M	109.95M	89.88M	64.88M	51.04M
Common Stock	1.81M	0	64K	70K	71K	73K	75K
Retained Earnings	-43.09M	0	-45.99M	-79.84M	-101.34M	-121.34M	-131.26M
Treasury Stock	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0
Minority Interest	0	0	-23.92M	-28.16M	-28.11M	-21.93M	-15.44M

Cash Flow

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	-14.76M	-3.26M	-17.81M	-21.11M	-16.27M	-1.02M	-4.7M
Operating CF Margin %	-17.26%	-2.96%	-12.89%	-12.94%	-9.78%	-0.66%	-2.92%
Operating CF Growth %	-	77.93%	-446.53%	-18.57%	22.92%	93.74%	-361.53%
Net Income	-5.41M	-6.07M	-87.67M	-33.86M	-28.32M	-23.78M	-9.92M
Depreciation & Amortization	786K	932K	997K	2M	1.61M	1.33M	868K
Stock-Based Compensation	606K	7.87M	77.72M	0	8.28M	4.96M	3.76M
Deferred Taxes	0	0	0	0	0	0	0
Other Non-Cash Items	106K	563K	652K	12.82M	1.12M	1.07M	586K
Working Capital Changes	-10.86M	-6.55M	-9.51M	-2.08M	1.03M	15.4M	0
Change in Receivables	-1.16M	-2.07M	-2.06M	-2.03M	-42K	324K	-311K
Change in Inventory	-3.11M	-9.41M	-10.7M	3.92M	-6.97M	15.93M	-1.77M
Change in Payables	-5.72M	2.37M	4.4M	-5.85M	13.64M	-5.86M	2.01M
Cash from Investing+	-456K	-805K	-33.14M	27.41M	805K	-283K	-307K
Capital Expenditures	-456K	-805K	-3.14M	-2.59M	-1.62M	-283K	-307K
CapEx % of Revenue	0.53%	0.73%	2.27%	1.59%	0.98%	0.18%	0.19%
Acquisitions	0	0	0	0	0	0	0
Investments	-	-	-	-	-	-	-
Other Investing	0	0	0	0	2.43M	0	0
Cash from Financing+	17.09M	15.76M	79.12M	-2.01M	25K	0	-289K
Debt Issued (Net)	0	0	0	0	0	0	0
Equity Issued (Net)	1000K	1000K	1000K	124K	0	0	0
Dividends Paid	0	0	-2.67M	0	0	0	0
Share Repurchases	0	-175M	-49.63M	0	0	0	0
Other Financing	-44K	-20K	-8.28M	-2.13M	25K	0	-289K
Net Change in Cash	1.87M	11.69M	28.17M	4.29M	-15.44M	-1.3M	-5.3M
Free Cash Flow+	-15.22M	-4.06M	-20.95M	-23.7M	-17.9M	-1.3M	-5.01M
FCF Margin %	-17.79%	-3.69%	-15.16%	-14.53%	-10.75%	-0.84%	-3.11%
FCF Growth %	-	73.3%	-415.6%	-13.16%	24.5%	92.73%	-284.79%
FCF per Share	-0.23	-0.06	-0.61	-0.55	-0.35	-0.02	-0.08
FCF Conversion (FCF/Net Income)	2.73x	0.54x	0.37x	0.62x	0.76x	0.05x	0.47x
Interest Paid	288K	321K	148K	0	79K	93K	0
Taxes Paid	0	0	0	0	127K	85K	0

Key Ratios

Metric	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-	-	-45.81%	-36.34%	-29.95%	-38.21%	-25.26%
Return on Invested Capital (ROIC)	-	-	-106.3%	-74.18%	-64.93%	-78.21%	-72.12%
Gross Margin	43.13%	44.99%	46.28%	42.91%	44.92%	46.39%	48.01%
Net Margin	-6.32%	-5.52%	-34.67%	-20.75%	-12.92%	-12.9%	-6.15%
Debt / Equity	-	-	0.00x	0.01x	0.03x	0.03x	0.02x
FCF Conversion	2.73x	0.54x	0.37x	0.62x	0.76x	0.05x	0.47x
Revenue Growth	-	28.59%	25.58%	18.1%	1.99%	-6.83%	4.01%

Zevia PBC (ZVIA) 10-Year Financial Performance & Capital Metrics

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Revenue CAGR

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Revenue History

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Zevia PBC (ZVIA) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare ZVIA vs Peers

vs KO

vs PEP

Compare Top 4

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios