SBEV
SPLASH BEVERAGE GROUP, INC.
Next earnings Jul 9, 2026 · consensus $-3.26 EPS, $4.29M rev
$0.15
▲ +1.32%$0.15▼ -96.08%
over 1Y
L $0.14H $3.76
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+1.3%
1W-7.0%
1M+2.8%
3M-65.7%
YTD-80.3%
1Y-96.1%
Avoid
Conviction
Horizon
Long (>12mo)
Street · 7 analysts
Buy
Revenue has all but vanished, equity is negative, and the auditor flags going-concern doubt — a dilution machine, not an investment.
Revenue $73.1K · FY2025
Splash Beverage is not a distressed operating business you can underwrite — it is effectively a shell funding itself by printing stock. Revenue has collapsed by three orders of magnitude in two years: $18.9M (FY2023) → $801K (FY2024) → $73.1K (FY2025), a -90.9% YoY drop on top of the prior year's wipeout. There is essentially no business left generating cash. Gross profit was $16.9K on that revenue; operating income was -$14.2M and net loss -$25.2M. The 23.1% gross margin and 19.9x P/S are arithmetic artifacts, not signals — you cannot value a company on a sales multiple when sales have evaporated. Accumulated deficit stands at -$182M against total assets of just $966K.
The balance sheet is already past the point of solvency. Stockholders' equity is -$15.3M, liabilities/equity is -1.06x, and current liabilities ($16.3M) dwarf current assets ($632K) by more than 25x. Cash is $281K against a -$4.82M annual operating burn — roughly three weeks of runway without new financing. The 10-K states it plainly: management 'concluded that such plans do not alleviate the substantial doubt about our ability to continue as a going concern.'
Is SBEV a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBear put spread (caution)~90d expiry
- Long put 0 @ ~0.00 est
- Short put 0 @ ~0.00 est
debit $0max +$0max $0
AVOID means we wouldn't engage at all — if expressing the short side anyway, only with capped risk.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $11.3M | $18.1M | $18.9M | $801K | $73.1K |
| Gross profit | $3.92M | $5.92M | $5.57M | -$120K | $16.9K |
| Operating income | -$29.1M | -$21.4M | -$15.3M | -$9.90M | -$14.2M |
| Net income | -$29.1M | -$21.7M | -$21.0M | -$23.8M | -$25.2M |
| Diluted EPS | -$1.02 | — | — | -$17.68 | -$11.97 |
| Net margin | -256.7% | -119.9% | -111.4% | -2964.9% | -34537.0% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$2.08M
EV / EBITDA—
EV / Sales28.5
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-1069.7%
FCF yield-204.5%
Quality & risk
ROIC (est.)—
Free cash flow-$4.82M
Total debt$6.57K
Net cash$275K
Altman Z-Score-331.44 distress
Piotroski F-Score3/9
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY+423.9%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Unregistered share sales2026-06-26
Item 3.02: more unregistered shares issued — fresh dilution for shareholders
- 8-K Reg FD disclosure2026-06-15
Item 7.01 Reg FD press release/update; no financial change disclosed
- 8-K Officer / director change2026-06-12
Resale/ELOC registration adds large dilution overhang on 9.95M float
- S-1 Securities registration2026-06-12
Resale/ELOC registration adds large dilution overhang on 9.95M float
- 8-K Unregistered share sales2026-06-04
Item 3.02: another unregistered equity sale — continued dilution
- 8-K Reg FD disclosure2026-06-03
Item 7.01 Reg FD press release; informational only
- 10-Q Quarterly report2026-05-20
Q1'26: going-concern doubt persists as revenue stays near zero
- 8-K Officer / director change2026-05-15
Late-filing notice: could not file Q1 10-Q on time
- NT 10-Q Late filing notice2026-05-15
Late-filing notice: could not file Q1 10-Q on time
Recent filings
all on EDGAR ↗8-KPeriod ending 2026-06-242026-06-26open ↗424B3Filing2026-06-26open ↗EFFECTFiling2026-06-22open ↗3Period ending 2026-06-082026-06-18open ↗4Period ending 2026-06-082026-06-15open ↗8-KPeriod ending 2026-06-152026-06-15open ↗8-KPeriod ending 2026-06-082026-06-12open ↗S-1Filing2026-06-12open ↗4Period ending 2026-06-082026-06-10open ↗4Period ending 2026-06-082026-06-10open ↗4Period ending 2026-06-082026-06-10open ↗4Period ending 2026-06-082026-06-10open ↗
Frequently asked
- Is SPLASH BEVERAGE GROUP, INC. (SBEV) a buy?
- SBEV currently carries a Avoid rating with 5/5 conviction, derived from its latest SEC filings. Revenue has all but vanished, equity is negative, and the auditor flags going-concern doubt — a dilution machine, not an investment.
- What is SPLASH BEVERAGE GROUP, INC.'s quality score?
- SBEV scores 21.009550620365154/100 (grade F) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001553788, latest 10-Q filed 2026-05-20) · EODHD · Proprietary analysis · as of 7/4/2026, 10:31:01 AM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 4, 2026, 6:31 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.