Tearsheet

Herbalife (HLF)


Market Price (12/28/2025): $13.32 | Market Cap: $1.4 Bil
Sector: Consumer Staples | Industry: Packaged Foods & Meats

Herbalife (HLF)


Market Price (12/28/2025): $13.32
Market Cap: $1.4 Bil
Sector: Consumer Staples
Industry: Packaged Foods & Meats

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.


0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 23%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 19%, FCF Yield is 16%
Weak multi-year price returns
2Y Excs Rtn is -58%, 3Y Excs Rtn is -83%
Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 138%
1 Megatrend and thematic drivers
Megatrends include Health & Wellness Trends. Themes include Nutritional Supplements.
Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10%
Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.4%
2   Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 54%
3   Key risks
HLF key risks include [1] persistent regulatory scrutiny and legal challenges to its multi-level marketing business model and [2] sustained declining sales volumes and revenue stagnation.
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 23%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 19%, FCF Yield is 16%
1 Megatrend and thematic drivers
Megatrends include Health & Wellness Trends. Themes include Nutritional Supplements.
2 Weak multi-year price returns
2Y Excs Rtn is -58%, 3Y Excs Rtn is -83%
3 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10%
4 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 138%
5 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.4%
6 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 54%
7 Key risks
HLF key risks include [1] persistent regulatory scrutiny and legal challenges to its multi-level marketing business model and [2] sustained declining sales volumes and revenue stagnation.

Valuation, Metrics & Events

HLF Stock


Why The Stock Moved


Qualitative Assessment

AI Analysis | Feedback

I am unable to provide information for the requested time period, as it is in the future.

Show more

Stock Movement Drivers

Fundamental Drivers

The 50.3% change in HLF stock from 9/27/2025 to 12/27/2025 was primarily driven by a 53.1% change in the company's P/E Multiple.
927202512272025Change
Stock Price ($)8.8713.3350.28%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)4928.504961.900.68%
Net Income Margin (%)6.59%6.47%-1.96%
P/E Multiple2.804.2953.14%
Shares Outstanding (Mil)102.70103.30-0.58%
Cumulative Contribution50.28%

LTM = Last Twelve Months as of date shown

Market Drivers

9/27/2025 to 12/27/2025
ReturnCorrelation
HLF50.3% 
Market (SPY)4.3%12.1%
Sector (XLP)0.3%30.5%

Fundamental Drivers

The 52.7% change in HLF stock from 6/28/2025 to 12/27/2025 was primarily driven by a 35.8% change in the company's P/E Multiple.
628202512272025Change
Stock Price ($)8.7313.3352.69%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)4950.504961.900.23%
Net Income Margin (%)5.66%6.47%14.15%
P/E Multiple3.164.2935.83%
Shares Outstanding (Mil)101.50103.30-1.77%
Cumulative Contribution52.64%

LTM = Last Twelve Months as of date shown

Market Drivers

6/28/2025 to 12/27/2025
ReturnCorrelation
HLF52.7% 
Market (SPY)12.6%17.4%
Sector (XLP)-2.2%30.6%

Fundamental Drivers

The 99.0% change in HLF stock from 12/27/2024 to 12/27/2025 was primarily driven by a 273.3% change in the company's Net Income Margin (%).
1227202412272025Change
Stock Price ($)6.7013.3398.96%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)5000.704961.90-0.78%
Net Income Margin (%)1.73%6.47%273.34%
P/E Multiple7.814.29-45.01%
Shares Outstanding (Mil)100.90103.30-2.38%
Cumulative Contribution98.84%

LTM = Last Twelve Months as of date shown

Market Drivers

12/27/2024 to 12/27/2025
ReturnCorrelation
HLF99.0% 
Market (SPY)17.0%21.6%
Sector (XLP)0.5%23.3%

Fundamental Drivers

The -6.1% change in HLF stock from 12/28/2022 to 12/27/2025 was primarily driven by a -7.1% change in the company's Total Revenues ($ Mil).
1228202212272025Change
Stock Price ($)14.1913.33-6.06%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)5341.604961.90-7.11%
Net Income Margin (%)5.71%6.47%13.19%
P/E Multiple4.564.29-5.83%
Shares Outstanding (Mil)98.00103.30-5.41%
Cumulative Contribution-6.34%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2023 to 12/27/2025
ReturnCorrelation
HLF-13.4% 
Market (SPY)48.0%19.2%
Sector (XLP)14.0%22.2%

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
HLF Return1%-15%-64%3%-56%112%-70%
Peers Return16%38%-12%21%26%16%150%
S&P 500 Return16%27%-19%24%23%18%114%

Monthly Win Rates [3]
HLF Win Rate50%58%33%50%50%67% 
Peers Win Rate52%65%42%68%57%52% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
HLF Max Drawdown-51%-22%-69%-23%-59%-24% 
Peers Max Drawdown-34%-5%-26%-7%-9%-23% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See HLF Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique KeyEventHLFS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-80.3%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven407.4%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-51.0%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven104.2%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven118 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-45.3%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven82.7%24.7%
2018 CorrectionTime to BreakevenTime to BreakevenNot Fully Recovered days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-75.4%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven307.2%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven493 days1,480 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

Herbalife's stock fell -80.3% during the 2022 Inflation Shock from a high on 2/10/2021. A -80.3% loss requires a 407.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Herbalife (HLF)

Herbalife Nutrition Ltd. offers nutrition solutions in North America, Mexico, South and Central America, Europe, the Middle East, Africa, China, and rest of Asia Pacific. The company provides products in the areas of weight management; targeted nutrition; energy, sports, and fitness; and outer nutrition. It offers weight management products, including meal replacement products, protein shakes, drink mixes, weight loss enhancers, and healthy snacks; targeted nutrition products, which comprise functional beverages, and dietary and nutritional supplements that contain herbs, vitamins, minerals, and other natural ingredients; outer nutrition products, such as facial skin, body, and hair care products; and energy, sports, and fitness products, including N-R-G tea and energy drink products. The company also provides literature, promotional, and other materials that comprise start-up kits, sales tools, and educational materials. It offers its products through independent service providers and sales representatives, as well as through company-operated retail platforms. The company was formerly known as Herbalife Ltd. and changed its name to Herbalife Nutrition Ltd. in April 2018. Herbalife Nutrition Ltd. was founded in 1980 and is headquartered in Los Angeles, California.

AI Analysis | Feedback

Here are 1-2 brief analogies for Herbalife:

  • Amway for nutrition and weight management.

  • Mary Kay for diet and wellness products.

AI Analysis | Feedback

Herbalife's major products primarily fall into the following categories:

  • Formula 1 Nutritional Shake Mix: A flagship meal replacement protein shake designed for weight management and daily nutritional intake.
  • Targeted Nutrition Supplements: A diverse range of dietary supplements addressing specific health needs like heart health, digestive health, and immune support.
  • Energy & Fitness Products: Supplements, hydration drinks, and protein products aimed at boosting energy, improving athletic performance, and aiding post-workout recovery.
  • Outer Nutrition/Personal Care: Skincare, hair care, and body care products designed to support healthy skin and hair.

AI Analysis | Feedback

Herbalife (symbol: HLF) sells primarily to individuals through a direct selling model, leveraging a global network of independent distributors.

Categories of Customers:

  • 1. Independent Distributors (Members)

    These are individuals who sign up with Herbalife to purchase products directly from the company. They are Herbalife's direct customers in terms of product purchases. Distributors typically buy products for two main reasons:

    • Personal Consumption: They consume the products themselves, often at a discounted price, for their own health and wellness goals.
    • Resale and Business Building: They resell products to other individuals (retail customers) and may also build their own network of distributors, thus generating income through product sales and commissions.

    Essentially, these distributors are both direct purchasers from Herbalife and the company's sales force.

  • 2. Retail Customers (End Consumers)

    These are individuals who purchase Herbalife products from the independent distributors for their personal consumption. While they do not purchase directly from Herbalife International, they are the ultimate consumers of the products. Their demand for Herbalife's nutrition, weight management, and personal care products drives the entire sales chain, as distributors purchase from Herbalife to fulfill the needs of these retail customers.

AI Analysis | Feedback

null

AI Analysis | Feedback

Stephan Gratziani, President, Chief Executive Officer

Appointed CEO in January 2024, Stephan Gratziani is the first distributor since founder Mark Hughes to lead Herbalife.

John DeSimone, Chief Financial Officer

John DeSimone was reappointed Chief Financial Officer in 2024, a position he previously held at Herbalife from 2010 to 2018. He joined Herbalife in 2007. Prior to joining Herbalife, Mr. DeSimone held senior financial roles, including controller, vice president of finance, and chief financial officer, at Rexall Sundown Inc., a multinational supplement and sports nutrition company.

Michael O. Johnson, Executive Chairman, Chairman of the Board

Michael O. Johnson has served as CEO of Herbalife multiple times, including from 2003 to 2017, again from 2019 to early 2020, and from October 2022 to May 2025. Before his time at Herbalife, he was the president of several divisions at The Walt Disney Company, including Walt Disney International, Walt Disney Asia, and the Worldwide Home Entertainment division of Walt Disney Studios. During his leadership at Disney, he increased the company's international markets from 34 to 80.

Ibi Montesino, Managing Director, North America

Ibi Montesino is the Managing Director for Herbalife's North America region, where she is responsible for all business, strategy, sales, and marketing functions across the U.S., Canada, and Puerto Rico, and oversees worldwide events. She brings over 12 years of leadership and expertise to this role, having previously served in this capacity from 2011 to 2023.

Dr. Luigi Gratton, Vice President of the Office of Health and Wellness

Dr. Luigi Gratton is the Vice President of the Office of Health and Wellness at Herbalife, where he is responsible for ensuring that Herbalife Independent Distributors understand product benefits. He is also the chairman of the Herbalife Nutrition Advisory Board. Dr. Gratton is a physician specialist in family medicine and a clinical physician at the UCLA Center for Human Nutrition in the risk factor obesity program. He holds a medical degree from Mount Sinai Medical School of New York University and completed a postdoctoral fellowship in clinical nutrition at the David Geffen School of Medicine at UCLA.

AI Analysis | Feedback

Herbalife (HLF) faces several significant risks to its business operations. The most prominent challenges are deeply rooted in its multi-level marketing (MLM) business model and its ongoing financial performance.

Key Risks to Herbalife (HLF)

1. Regulatory Scrutiny and Challenges to Multi-Level Marketing (MLM) Business Model: Herbalife's MLM business model has consistently been a target of regulatory scrutiny and legal challenges globally. The company has faced investigations and settlements with regulatory bodies, including the Federal Trade Commission (FTC) and the Securities and Exchange Commission (SEC), regarding its business practices and how it differentiates between product consumption by end-users and recruitment of distributors. Changes in regulations concerning MLM practices in various markets pose an ongoing threat to its operational model and compliance costs. Furthermore, the MLM model often carries negative perceptions among consumers and potential recruits, which can hinder growth and trust.

2. Declining Sales Volumes and Revenue Stagnation: Herbalife has experienced a sustained period of weak sales volumes and pressure on earnings per share (EPS), contributing to a cautious outlook for growth. The company has reported a decade of revenue stagnation and shrinking margins since 2018, with average quarterly sales volumes contracting. Lower revenues are directly linked to decreased sales volumes and a reduction in the number of Sales Leaders and distributors. Economic downturns can further exacerbate this risk, as consumers may reduce discretionary spending on premium-priced products offered by Herbalife.

3. Dependence on Distributors and Related Disruptions: The success of Herbalife's business is heavily reliant on the performance and continued engagement of its extensive network of independent distributors. Challenges such as distributor struggles, recruitment slowdowns, or disruptions within this network can significantly imperil the company's future prospects. Additionally, Herbalife has limited control over how individual distributors market and sell products, which can lead to inconsistencies and potential compliance issues, as well as the risk of distributors accumulating excess inventory to meet sales quotas.

AI Analysis | Feedback

1. Proliferation of E-commerce and Direct-to-Consumer (DTC) Health and Wellness Brands

The rise of sophisticated e-commerce platforms, subscription models, and a multitude of direct-to-consumer (DTC) health and wellness brands directly challenges Herbalife's traditional multi-level marketing distribution model. Consumers can now easily purchase similar nutritional supplements and weight management products directly online, often benefiting from perceived better transparency, competitive pricing, and convenience, without the need for an independent distributor. This trend threatens to erode Herbalife's customer base by offering alternative, often more modern and convenient, purchasing avenues. This is analogous to Netflix threatening Blockbuster, where a new, more efficient distribution model (online streaming) rendered the traditional physical distribution network less relevant.

2. Competition from Diverse Gig Economy Opportunities for Distributors

Herbalife's business relies heavily on recruiting individuals seeking flexible work and supplementary income to become distributors. The significant growth and diversification of the broader gig economy, encompassing platforms like ride-sharing, food delivery, online freelancing, and social media influencing, provide numerous alternative income-earning opportunities. These alternatives often present simpler, less capital-intensive, or more immediately remunerative options compared to the complexities of building a multi-level marketing business. This expanding landscape of flexible work directly competes for the same pool of potential distributors, making it increasingly challenging for Herbalife to recruit and retain its sales force. This is analogous to Uber threatening traditional taxicab businesses by offering an alternative, often more appealing and flexible, model for individuals to earn money.

AI Analysis | Feedback

Herbalife (symbol: HLF) operates in several addressable markets for its main products and services, primarily focusing on nutrition, weight management, and personal care.

  • Global Weight Loss Market: This market was valued at approximately $192.2 billion in 2023. Another estimate indicates the global weight loss market was USD 165.5 billion in 2023 and is projected to reach USD 399.3 billion by 2032.
  • Global Weight Loss Supplements Market: The market size for weight loss supplements globally was valued at USD 24.63 billion in 2023. It is projected to grow to USD 77.21 billion by 2032.
    • U.S. Weight Loss Supplements Market: Within the global market, the U.S. weight loss supplements market is projected to reach USD 17.23 billion by 2032.
  • Global Dietary Supplements Market: This market was estimated at USD 192.65 billion in 2024 and is projected to reach USD 414.52 billion by 2033.
  • Global Wellness Market: While broader, Herbalife's products contribute to the global wellness market, which is projected to reach $7 trillion by 2025.
  • Personal Care / Outer Nutrition Products: Herbalife offers a line of personal care and outer nutrition products including skincare and haircare. Market size for these specific products globally: null.
  • Sports Nutrition Products: Herbalife provides sports nutrition products. Market size for these specific products globally: null.

AI Analysis | Feedback

Herbalife (HLF) anticipates several key drivers for future revenue growth over the next 2-3 years, as outlined in recent earnings calls and releases:

  1. Enhanced Distributor Engagement and Recruitment: Herbalife is focusing on initiatives to energize its independent distributor network and attract new distributors. Efforts include new training programs like the Diamond Development Mastermind Program and the Herbalife Premier League, which are aimed at improving distributor performance, engagement, and retention. The company has observed a return to new distributor growth in regions like North America, marking a significant turnaround after previous declines. This renewed focus on distributor support and recruitment is expected to expand the sales force and subsequently drive revenue.
  2. Product Innovation and Expansion in Health and Wellness Trends: The company is capitalizing on growing health and wellness trends by launching new products and expanding existing lines. Examples include the introduction of the HL Skin skincare line, the MultiBurn weight loss product, and the Herbalife24 prolonged energy gel in various markets. Herbalife also plans to launch personalized supplements in 2026, further aligning with consumer demand for tailored nutrition. Investment in a new R&D and quality control facility in California underscores this commitment to product innovation.
  3. Digital Transformation and Personalized Nutrition Platforms: Herbalife is investing in technology and digital tools to enhance its business model and distributor capabilities. The expansion of the Pro2col app, a next-generation personalized digital health platform, is central to this strategy. This platform is designed to offer personalized nutrition at scale and support distributor growth through advanced digital experiences, which is expected to drive future sales.
  4. Strategic Pricing and Cost Savings Initiatives: The company has implemented strategic pricing actions that have positively contributed to gross profit margins and offset some headwinds. Alongside pricing, ongoing cost savings initiatives implemented in 2024 have also contributed to improved adjusted EBITDA and are expected to continue supporting profitability and, indirectly, revenue growth by allowing for greater investment in growth areas.
  5. Growth in Key Geographic Markets: Herbalife has reported a return to net sales growth in North America, its first quarterly increase since Q2 2021, and on a worldwide basis since Q1 2024, indicating stabilization and potential for continued growth in these crucial markets. Additionally, regions like Latin America and EMEA have shown consistent year-over-year sales growth, and markets such as India are outperforming. The focus on expanding the distributor and customer base in these regions, including emerging markets like China, is anticipated to be a significant revenue driver.

AI Analysis | Feedback

Share Repurchases

  • A three-year $1.5 billion share repurchase program was authorized on February 9, 2021, with approximately $985.5 million of authorized capacity remaining before it expired on February 9, 2024.
  • Herbalife's annual share buybacks were $146.7 million in 2022 and $8.3 million in 2024.
  • Share repurchases amounted to $4.6 million for the quarter ending June 30, 2025.

Share Issuance

  • In the six months ended June 30, 2023, 1.5 million common shares were issued from the exercise of SARs, restricted stock units, and the employee stock purchase plan, totaling $1.5 million.
  • Additional capital from share-based compensation was $22.0 million for the six months ended June 30, 2023.
  • Shareholders approved the 2023 Stock Incentive Plan, allowing for the issuance of up to 8,500,000 common shares.

Outbound Investments

  • In the first quarter of 2025, Herbalife completed three strategic acquisitions focused on personalized nutrition and wellness, investing $25.5 million in cash.

Capital Expenditures

  • Capital expenditures for the year ended December 31, 2023, including investments in the Herbalife One digital technology platform, were approximately $135 million.
  • For the full year 2024, expected capital expenditures are projected to be between $120 million and $150 million, plus an additional $20 million to $25 million for capitalized SaaS implementation costs.
  • Anticipated capital expenditures for the full year 2025 are in the range of $90 million to $120 million. The primary focus of these expenditures includes the Herbalife One digital technology platform and the Transformation Program to optimize global processes.

Better Bets than Herbalife (HLF)

Trade Ideas

Select ideas related to HLF. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
BF-B_11302025_Dip_Buyer_ValueBuy11302025BF-BBrown-FormanDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-8.9%-8.9%-8.9%
CPB_11302025_Dip_Buyer_ValueBuy11302025CPBCampbell'sDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-7.6%-7.6%-9.2%
ENR_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11212025ENREnergizerDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
13.1%13.1%-5.3%
FLO_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11212025FLOFlowers FoodsDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
5.4%5.4%-1.6%
CLX_11142025_Dip_Buyer_FCFYield11142025CLXCloroxDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-5.0%-5.0%-6.0%

Recent Active Movers

More From Trefis

Peer Comparisons for Herbalife

Peers to compare with:

Financials

HLFHPQHPEIBMCSCOAAPLMedian
NameHerbalifeHP Hewlett .Internat.Cisco Sy.Apple  
Mkt Price13.3323.2624.49305.0978.16273.4051.32
Mkt Cap1.421.932.6284.9309.24,074.4158.8
Rev LTM4,96255,29534,29665,40257,696408,62556,496
Op Inc LTM4883,6241,64411,54412,991130,2147,584
FCF LTM2172,80062711,85412,73396,1847,327
FCF 3Y Avg1902,9781,40011,75313,879100,5037,366
CFO LTM3053,6972,91913,48313,744108,5658,590
CFO 3Y Avg3103,6723,89613,49814,736111,5598,697

Growth & Margins

HLFHPQHPEIBMCSCOAAPLMedian
NameHerbalifeHP Hewlett .Internat.Cisco Sy.Apple  
Rev Chg LTM-0.8%3.2%13.8%4.5%8.9%6.0%5.2%
Rev Chg 3Y Avg-2.4%-3.9%6.5%2.6%3.7%1.8%2.2%
Rev Chg Q2.7%4.2%14.4%9.1%7.5%9.6%8.3%
QoQ Delta Rev Chg LTM0.7%1.1%3.7%2.1%1.8%2.1%2.0%
Op Mgn LTM9.8%6.6%4.8%17.7%22.5%31.9%13.7%
Op Mgn 3Y Avg8.1%7.4%7.2%16.4%24.2%30.8%12.2%
QoQ Delta Op Mgn LTM-0.1%-0.2%-1.4%0.6%0.4%0.1%-0.0%
CFO/Rev LTM6.1%6.7%8.5%20.6%23.8%26.6%14.6%
CFO/Rev 3Y Avg6.2%6.8%12.7%21.4%26.1%28.4%17.1%
FCF/Rev LTM4.4%5.1%1.8%18.1%22.1%23.5%11.6%
FCF/Rev 3Y Avg3.8%5.5%4.6%18.6%24.6%25.6%12.1%

Valuation

HLFHPQHPEIBMCSCOAAPLMedian
NameHerbalifeHP Hewlett .Internat.Cisco Sy.Apple  
Mkt Cap1.421.932.6284.9309.24,074.4158.8
P/S0.30.41.04.45.410.02.7
P/EBIT2.86.819.925.122.531.321.2
P/E4.38.6572.736.029.941.033.0
P/CFO4.55.911.221.122.537.516.2
Total Yield23.3%14.1%2.3%5.0%5.4%2.8%5.2%
Dividend Yield0.0%2.5%2.1%2.2%2.1%0.4%2.1%
FCF Yield 3Y Avg20.7%10.6%5.5%6.4%6.0%3.1%6.2%
D/E1.60.50.70.20.10.00.4
Net D/E1.40.30.60.20.00.00.3

Returns

HLFHPQHPEIBMCSCOAAPLMedian
NameHerbalifeHP Hewlett .Internat.Cisco Sy.Apple  
1M Rtn-0.1%-1.8%14.4%0.6%2.7%-1.5%0.3%
3M Rtn50.3%-11.9%2.7%7.9%17.0%7.1%7.5%
6M Rtn52.7%-4.0%34.5%6.6%15.2%36.3%24.9%
12M Rtn99.0%-27.0%16.2%40.5%34.5%7.5%25.3%
3Y Rtn-6.1%-1.9%71.1%143.1%81.3%120.2%76.2%
1M Excs Rtn10.3%-5.6%12.9%-2.2%-0.0%-3.7%-1.1%
3M Excs Rtn46.0%-16.2%-1.7%3.6%12.7%2.8%3.2%
6M Excs Rtn40.4%-16.3%22.3%-5.7%3.0%24.0%12.6%
12M Excs Rtn94.6%-42.9%-0.7%25.0%19.9%-8.4%9.6%
3Y Excs Rtn-83.2%-83.5%-11.2%59.6%-1.2%28.4%-6.2%

Financials

Segment Financials

Revenue by Segment
$ Mil20242023202220212020
Weight Management2,8522,9543,3703,3133,012
Targeted Nutrition1,4801,5131,6371,5271,278
Energy, Sports, and Fitness560551552437352
Literature, Promotional, and Other88101136153137
Outer Nutrition828610811197
Total5,0625,2045,8035,5424,877


Price Behavior

Price Behavior
Market Price$13.33 
Market Cap ($ Bil)1.4 
First Trading Date12/16/2004 
Distance from 52W High-10.5% 
   50 Days200 Days
DMA Price$10.86$9.05
DMA Trendupup
Distance from DMA22.8%47.3%
 3M1YR
Volatility72.6%75.7%
Downside Capture0.7967.86
Upside Capture197.01125.81
Correlation (SPY)12.1%21.6%
HLF Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta0.800.750.691.390.810.99
Up Beta2.030.541.552.930.750.75
Down Beta-3.160.370.230.230.760.95
Up Capture596%275%131%205%123%93%
Bmk +ve Days13263974142427
Stock +ve Days12223060116364
Down Capture-153%-24%6%89%82%107%
Bmk -ve Days7162452107323
Stock -ve Days8203364130374

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
 Comparison of HLF With Other Asset Classes (Last 1Y)
 HLFSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return105.7%0.5%17.8%72.1%8.6%4.4%-8.2%
Annualized Volatility75.2%13.9%19.4%19.3%15.2%17.0%35.0%
Sharpe Ratio1.24-0.200.722.700.340.09-0.08
Correlation With Other Assets 23.3%21.3%-7.3%-0.6%28.9%8.4%

ETFs used for asset classes: Sector ETF = XLP, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
 Comparison of HLF With Other Asset Classes (Last 5Y)
 HLFSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-22.8%5.7%14.7%18.7%11.5%4.6%30.8%
Annualized Volatility59.1%13.0%17.1%15.5%18.7%18.9%48.6%
Sharpe Ratio-0.200.230.700.970.500.160.57
Correlation With Other Assets 26.0%27.1%1.1%4.6%28.7%11.5%

ETFs used for asset classes: Sector ETF = XLP, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
 Comparison of HLF With Other Asset Classes (Last 10Y)
 HLFSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-6.9%7.3%14.8%15.3%7.0%5.3%69.2%
Annualized Volatility49.3%14.7%18.0%14.7%17.6%20.8%55.8%
Sharpe Ratio0.050.370.710.860.320.220.90
Correlation With Other Assets 26.6%32.1%-0.1%11.4%28.7%10.8%

ETFs used for asset classes: Sector ETF = XLP, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date12152025
Short Interest: Shares Quantity10,543,411
Short Interest: % Change Since 11302025-8.2%
Average Daily Volume2,433,391
Days-to-Cover Short Interest4.33
Basic Shares Quantity103,300,000
Short % of Basic Shares10.2%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/5/202511.7%13.2%43.4%
8/6/2025-6.8%5.4%6.6%
4/30/2025-7.9%-5.7%8.5%
2/19/202542.7%53.4%42.2%
10/30/202410.9%24.2%14.1%
7/31/2024-8.6%-25.6%-30.9%
5/1/20248.1%18.8%18.7%
2/14/2024-31.7%-27.7%-23.7%
...
SUMMARY STATS   
# Positive91012
# Negative141311
Median Positive11.7%12.9%11.3%
Median Negative-5.6%-9.0%-17.6%
Max Positive42.7%53.4%43.4%
Max Negative-31.7%-27.7%-35.3%

SEC Filings

Expand for More
Report DateFiling DateFiling
93020251105202510-Q 9/30/2025
6302025806202510-Q 6/30/2025
3312025430202510-Q 3/31/2025
12312024219202510-K 12/31/2024
93020241030202410-Q 9/30/2024
6302024731202410-Q 6/30/2024
3312024501202410-Q 3/31/2024
12312023214202410-K 12/31/2023
93020231101202310-Q 9/30/2023
6302023802202310-Q 6/30/2023
3312023502202310-Q 3/31/2023
12312022214202310-K 12/31/2022
93020221031202210-Q 9/30/2022
6302022802202210-Q 6/30/2022
3312022503202210-Q 3/31/2022
12312021223202210-K 12/31/2021

Industry Resources

Packaged Foods & Meats Resources
USDA Data