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Side-by-side financial comparison of Vita Coco Company, Inc. (COCO) and SPLASH BEVERAGE GROUP, INC. (SBEV). Click either name above to swap in a different company.
SPLASH BEVERAGE GROUP, INC. runs the higher net margin — 877.7% vs 4.3%, a 873.3% gap on every dollar of revenue. On growth, SPLASH BEVERAGE GROUP, INC. posted the faster year-over-year revenue change (86.8% vs 0.4%). Over the past eight quarters, SPLASH BEVERAGE GROUP, INC.'s revenue compounded faster (NaN% CAGR vs NaN%).
The Vita Coco Company, doing business simply as Vita Coco, is an American beverage company which mainly sells coconut water. The largest brand globally in coconut/plant waters, Vita Coco has operations in 31 countries as of 2016. It is a benefit corporation. The company is owned by All Market Inc.
Splash Beverage Group, Inc. is a fast-growing beverage company that develops, produces, distributes and markets alcoholic and non-alcoholic products. Its offerings include ready-to-drink cocktails, flavored sparkling water, sports drinks and functional beverages, primarily serving the North American market via retail, foodservice and e-commerce channels.
COCO vs SBEV — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $127.8M | $-365.2K |
| Net Profit | $5.5M | $-3.2M |
| Gross Margin | 34.9% | — |
| Operating Margin | 8.0% | 267.4% |
| Net Margin | 4.3% | 877.7% |
| Revenue YoY | 0.4% | 86.8% |
| Net Profit YoY | 64.0% | 64.5% |
| EPS (diluted) | $0.10 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $127.8M | $-365.2K | ||
| Q3 25 | $182.3M | $0 | ||
| Q2 25 | $168.8M | $0 | ||
| Q1 25 | $130.9M | $438.3K | ||
| Q4 24 | $127.3M | $-2.8M | ||
| Q3 24 | $132.9M | $981.9K | ||
| Q2 24 | $144.1M | $1.0M | ||
| Q1 24 | $111.7M | $1.5M |
| Q4 25 | $5.5M | $-3.2M | ||
| Q3 25 | $24.0M | $-9.9M | ||
| Q2 25 | $22.9M | $-8.5M | ||
| Q1 25 | $18.9M | $-3.7M | ||
| Q4 24 | $3.4M | $-9.0M | ||
| Q3 24 | $19.3M | $-4.7M | ||
| Q2 24 | $19.1M | $-5.3M | ||
| Q1 24 | $14.2M | $-4.7M |
| Q4 25 | 34.9% | — | ||
| Q3 25 | 37.7% | — | ||
| Q2 25 | 36.3% | — | ||
| Q1 25 | 36.7% | -6.9% | ||
| Q4 24 | 32.5% | — | ||
| Q3 24 | 38.8% | 29.6% | ||
| Q2 24 | 40.8% | 23.4% | ||
| Q1 24 | 42.2% | 10.6% |
| Q4 25 | 8.0% | 267.4% | ||
| Q3 25 | 15.3% | — | ||
| Q2 25 | 14.9% | — | ||
| Q1 25 | 14.7% | -463.8% | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 15.5% | -271.9% | ||
| Q2 24 | 20.8% | -352.6% | ||
| Q1 24 | 17.0% | -211.0% |
| Q4 25 | 4.3% | 877.7% | ||
| Q3 25 | 13.2% | — | ||
| Q2 25 | 13.6% | — | ||
| Q1 25 | 14.4% | -832.9% | ||
| Q4 24 | 2.6% | 326.6% | ||
| Q3 24 | 14.5% | -480.7% | ||
| Q2 24 | 13.2% | -508.9% | ||
| Q1 24 | 12.7% | -303.2% |
| Q4 25 | $0.10 | — | ||
| Q3 25 | $0.40 | — | ||
| Q2 25 | $0.38 | — | ||
| Q1 25 | $0.31 | — | ||
| Q4 24 | $0.06 | — | ||
| Q3 24 | $0.32 | — | ||
| Q2 24 | $0.32 | — | ||
| Q1 24 | $0.24 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $196.9M | $281.4K |
| Total DebtLower is stronger | — | $3.4K |
| Stockholders' EquityBook value | $331.5M | $-15.3M |
| Total Assets | $461.2M | $965.7K |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $196.9M | $281.4K | ||
| Q3 25 | $203.7M | $265.7K | ||
| Q2 25 | $167.0M | $17.2K | ||
| Q1 25 | $153.6M | — | ||
| Q4 24 | $164.7M | $13.8K | ||
| Q3 24 | $156.7M | — | ||
| Q2 24 | $150.1M | — | ||
| Q1 24 | $123.0M | $14.8K |
| Q4 25 | — | $3.4K | ||
| Q3 25 | — | $58.1K | ||
| Q2 25 | — | $52.5K | ||
| Q1 25 | — | $2.1M | ||
| Q4 24 | — | $2.0M | ||
| Q3 24 | — | $1.3M | ||
| Q2 24 | — | $1.4M | ||
| Q1 24 | — | $810.2K |
| Q4 25 | $331.5M | $-15.3M | ||
| Q3 25 | $323.7M | $6.8M | ||
| Q2 25 | $296.9M | $8.7M | ||
| Q1 25 | $277.9M | $-20.0M | ||
| Q4 24 | $258.8M | $-18.6M | ||
| Q3 24 | $252.1M | $-10.8M | ||
| Q2 24 | $232.0M | $-10.4M | ||
| Q1 24 | $209.7M | $-9.5M |
| Q4 25 | $461.2M | $965.7K | ||
| Q3 25 | $461.3M | $22.5M | ||
| Q2 25 | $421.1M | $22.2M | ||
| Q1 25 | $384.0M | $2.5M | ||
| Q4 24 | $362.4M | $2.8M | ||
| Q3 24 | $353.1M | $8.4M | ||
| Q2 24 | $323.0M | $8.1M | ||
| Q1 24 | $289.0M | $8.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.01× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-3.9M | $-991.2K |
| Free Cash FlowOCF − Capex | $-7.1M | — |
| FCF MarginFCF / Revenue | -5.6% | — |
| Capex IntensityCapex / Revenue | 2.5% | — |
| Cash ConversionOCF / Net Profit | -0.70× | — |
| TTM Free Cash FlowTrailing 4 quarters | $39.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.9M | $-991.2K | ||
| Q3 25 | $39.1M | $-2.4M | ||
| Q2 25 | $21.8M | $-680.3K | ||
| Q1 25 | $-9.8M | $-724.1K | ||
| Q4 24 | $6.9M | $-919.7K | ||
| Q3 24 | $9.3M | $-2.6M | ||
| Q2 24 | $26.9M | $-2.4M | ||
| Q1 24 | $-267.0K | $-1.3M |
| Q4 25 | $-7.1M | — | ||
| Q3 25 | $35.6M | — | ||
| Q2 25 | $20.9M | — | ||
| Q1 25 | $-10.4M | — | ||
| Q4 24 | $6.8M | — | ||
| Q3 24 | $8.9M | $-2.6M | ||
| Q2 24 | $26.6M | — | ||
| Q1 24 | $-391.0K | — |
| Q4 25 | -5.6% | — | ||
| Q3 25 | 19.6% | — | ||
| Q2 25 | 12.4% | — | ||
| Q1 25 | -7.9% | — | ||
| Q4 24 | 5.3% | — | ||
| Q3 24 | 6.7% | -269.8% | ||
| Q2 24 | 18.5% | — | ||
| Q1 24 | -0.4% | — |
| Q4 25 | 2.5% | — | ||
| Q3 25 | 1.9% | — | ||
| Q2 25 | 0.6% | — | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.3% | 0.3% | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 0.1% | 0.0% |
| Q4 25 | -0.70× | — | ||
| Q3 25 | 1.63× | — | ||
| Q2 25 | 0.95× | — | ||
| Q1 25 | -0.52× | — | ||
| Q4 24 | 2.05× | — | ||
| Q3 24 | 0.48× | — | ||
| Q2 24 | 1.41× | — | ||
| Q1 24 | -0.02× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
COCO
| Vita Coco Coconut Water | $85.3M | 67% |
| Other | $25.3M | 20% |
| Private Label | $12.5M | 10% |
SBEV
Segment breakdown not available.
