Zevia PBC
ZVIA on NYSE. Zevia sells canned soft drinks to people who want no sugar. Market value $163m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Everyday goods stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $3.66 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 35 of 100. Price score: 20 of 100. Our list needs 70 on quality and 60 on price.
$1.20 a share, 8% above its 1-year low
Over the past year the price has ranged from $1.11 to $2.78.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: $3 million in the past 12 months, a shortfall of $5 million in the year to December 2025.
| Revenue | |||||
| Revenue | $138m | $163m | $166m | $155m | $161m |
| Operating margin | |||||
| Operating margin | -63.3% | -29.3% | -17.4% | -15.3% | -7.3% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.03bn | 0.04bn | 0.05bn | 0.06bn | 0.07bn |
Health checks
- Free cash flow positive0 of 4 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)3 of 7 checks we could run
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsSlow, 3.9% a year
- Buying back its own sharesNo, 92% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $45 million last quarter, about the same as a year ago.
- A loss of $3 million, compared with a loss of $697,000 a year ago.
- It loses 6 cents on each $1 of sales, compared with 11 cents a year earlier.
- 8% more shares than a year ago. Each share owns a bit less of the company.
- Sales grew on a year ago in 3 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $36m |
| December 2024 | $39m |
| March 2025 | $38m |
| June 2025 | $45m |
| September 2025 | $41m |
| December 2025 | $38m |
| March 2026 | $46m |
| June 2026 | $45m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$3m |
| December 2024 | -$6m |
| March 2025 | -$5m |
| June 2025 | -$697,000 |
| September 2025 | -$3m |
| December 2025 | -$1m |
| March 2026 | -$2m |
| June 2026 | -$3m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 25 February 2026
- Next quarterly (estimated, 10-Q)
- 4 November 2026
Who owns it
None of the long-term investors we follow own it. 102 funds in all.
Largest holders overall
- Caisse de depot et placement du Quebec$19mCut
- Topline Capital Management$12mAdded
- Kanen Wealth Management$5mAdded
- Mackenzie Financial$4mAdded
- Vanguard Capital Management$3mAdded
- Jefferies Financial Group$3m
- Stoic Point Capital Management$2mAdded
- Jane Street Group$2mNew
- AQR Capital Management$1mAdded
- BlackRock$1mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- Caisse de depot et placement du QuebecPassive investorat least 15.9%−4.2 pts(filed with 1 related holder)Since 27 May 2026
- Topline Capital Management, LLCPassive investorat least 8.8%(filed with 2 related holders)Since 31 December 2025
- White Pine LLCPassive investorat least 4.9%−2.7 pts(filed with 1 related holder)Since 30 June 2025
- Divisadero Street Capital Management, LPPassive investorat least 4.8%−4.3 pts(filed with 4 related holders)Since 31 December 2025
- Tallwoods Investments, LLCPassive investorSold down below 5%Since 31 December 2025
| Holder | Stake | Since | |
|---|---|---|---|
Caisse de depot et placement du Quebec Passive investor | at least 15.9%−4.2 pts (filed with 1 related holder) | 27 May 2026 | |
Topline Capital Management, LLC Passive investor | at least 8.8% (filed with 2 related holders) | 31 December 2025 | |
White Pine LLC Passive investor | at least 4.9%−2.7 pts (filed with 1 related holder) | 30 June 2025 | |
Divisadero Street Capital Management, LP Passive investor | at least 4.8%−4.3 pts (filed with 4 related holders) | 31 December 2025 | |
Tallwoods Investments, LLC Passive investor | Sold down below 5% | 31 December 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 3 sold $801,148.
- Taylor AmyPresident & CEO, DirectorSold
- Date
- 30 March 2026
- Shares
- 10,776
- Price
- $1.16
- Value
- $12,500
- Taylor AmyPresident & CEO, DirectorSold
- Date
- 27 March 2026
- Shares
- 66,501
- Price
- $1.14
- Value
- $75,811
- Taylor AmyPresident & CEO, DirectorSold
- Date
- 26 March 2026
- Shares
- 66,731
- Price
- $1.17
- Value
- $78,075
- Satya GirishChief Financial OfficerSold
- Date
- 25 March 2026
- Shares
- 41,662
- Price
- $1.18
- Value
- $49,161
- Spence Padraic L.DirectorSold
- Date
- 3 March 2026
- Shares
- 40,000
- Price
- $1.44
- Value
- $57,600
- Spence Padraic L.DirectorSold
- Date
- 10 November 2025
- Shares
- 200,000
- Price
- $2.64
- Value
- $528,000
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 30 March 2026 | Taylor Amy President & CEO, Director | Sold | 10,776 | $1.16 | $12,500 |
| 27 March 2026 | Taylor Amy President & CEO, Director | Sold | 66,501 | $1.14 | $75,811 |
| 26 March 2026 | Taylor Amy President & CEO, Director | Sold | 66,731 | $1.17 | $78,075 |
| 25 March 2026 | Satya Girish Chief Financial Officer | Sold | 41,662 | $1.18 | $49,161 |
| 3 March 2026 | Spence Padraic L. Director | Sold | 40,000 | $1.44 | $57,600 |
| 10 November 2025 | Spence Padraic L. Director | Sold | 200,000 | $2.64 | $528,000 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.