Tearsheet

Herbalife (HLF)


Market Price (4/12/2026): $15.22 | Market Cap: $1.6 Bil
Sector: Consumer Staples | Industry: Packaged Foods & Meats

Herbalife (HLF)


Market Price (4/12/2026): $15.22
Market Cap: $1.6 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 15%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%, FCF Yield is 16%

Megatrend and thematic drivers
Megatrends include Health & Wellness Trends. Themes include Nutritional Supplements.

Weak multi-year price returns
3Y Excs Rtn is -69%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 116%

Stock price has recently run up significantly
12M Rtn12 month market price return is 128%

Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.1%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 78%

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 15%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%, FCF Yield is 16%
1 Megatrend and thematic drivers
Megatrends include Health & Wellness Trends. Themes include Nutritional Supplements.
2 Weak multi-year price returns
3Y Excs Rtn is -69%
3 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 116%
4 Stock price has recently run up significantly
12M Rtn12 month market price return is 128%
5 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.1%
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 78%
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

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Herbalife (HLF) stock has gained about 20% since 12/31/2025 because of the following key factors:

1. Herbalife reported strong fourth-quarter and full-year 2025 financial results, with key metrics exceeding guidance. On February 18, 2026, the company announced fourth-quarter 2025 net sales of $1.3 billion, a 6.3% increase year-over-year, and full-year 2025 net sales of $5.0 billion, up 0.9% year-over-year; both figures surpassed guidance. Adjusted EBITDA for the fourth quarter reached $156.1 million and $657.6 million for the full year, also exceeding guidance. The diluted EPS for Q4 was $0.81, with adjusted diluted EPS at $0.45.

2. Global sports icon Cristiano Ronaldo made a $7.5 million investment in Herbalife's Pro2col technology. This significant investment was announced on February 18, 2026, with Ronaldo acquiring a 10% equity interest in HBL Pro2col Software, LLC. Pro2col is described as Herbalife's next-generation, digital, personalized health and wellness operating system, and this collaboration is expected to enhance brand visibility and investor confidence.

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Stock Movement Drivers

Fundamental Drivers

The 18.2% change in HLF stock from 12/31/2025 to 4/11/2026 was primarily driven by a 66.0% change in the company's P/E Multiple.
(LTM values as of)123120254112026Change
Stock Price ($)12.8915.2318.2%
Change Contribution By: 
Total Revenues ($ Mil)4,9625,0381.5%
Net Income Margin (%)6.5%4.5%-29.8%
P/E Multiple4.26.966.0%
Shares Outstanding (Mil)103103-0.1%
Cumulative Contribution18.2%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 4/11/2026
ReturnCorrelation
HLF18.2% 
Market (SPY)-5.4%33.3%
Sector (XLP)6.0%26.9%

Fundamental Drivers

The 80.5% change in HLF stock from 9/30/2025 to 4/11/2026 was primarily driven by a 158.4% change in the company's P/E Multiple.
(LTM values as of)93020254112026Change
Stock Price ($)8.4415.2380.5%
Change Contribution By: 
Total Revenues ($ Mil)4,9285,0382.2%
Net Income Margin (%)6.6%4.5%-31.2%
P/E Multiple2.76.9158.4%
Shares Outstanding (Mil)103103-0.7%
Cumulative Contribution80.5%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 4/11/2026
ReturnCorrelation
HLF80.5% 
Market (SPY)-2.9%22.1%
Sector (XLP)5.9%26.9%

Fundamental Drivers

The 76.5% change in HLF stock from 3/31/2025 to 4/11/2026 was primarily driven by a 100.7% change in the company's P/E Multiple.
(LTM values as of)33120254112026Change
Stock Price ($)8.6315.2376.5%
Change Contribution By: 
Total Revenues ($ Mil)4,9935,0380.9%
Net Income Margin (%)5.1%4.5%-10.9%
P/E Multiple3.46.9100.7%
Shares Outstanding (Mil)101103-2.1%
Cumulative Contribution76.5%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2025 to 4/11/2026
ReturnCorrelation
HLF76.5% 
Market (SPY)16.3%30.8%
Sector (XLP)3.1%32.7%

Fundamental Drivers

The -5.4% change in HLF stock from 3/31/2023 to 4/11/2026 was primarily driven by a -26.5% change in the company's Net Income Margin (%).
(LTM values as of)33120234112026Change
Stock Price ($)16.1015.23-5.4%
Change Contribution By: 
Total Revenues ($ Mil)5,2045,038-3.2%
Net Income Margin (%)6.2%4.5%-26.5%
P/E Multiple4.96.940.5%
Shares Outstanding (Mil)98103-5.3%
Cumulative Contribution-5.4%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2023 to 4/11/2026
ReturnCorrelation
HLF-5.4% 
Market (SPY)63.3%22.0%
Sector (XLP)19.0%24.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
HLF Return-15%-64%3%-56%93%18%-68%
Peers Return20%-33%5%-37%-9%-9%-57%
S&P 500 Return27%-19%24%23%16%-0%82%

Monthly Win Rates [3]
HLF Win Rate58%33%50%50%67%75% 
Peers Win Rate60%32%52%33%32%45% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
HLF Max Drawdown-22%-69%-23%-59%-24%-1% 
Peers Max Drawdown-9%-45%-27%-47%-37%-19% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-7% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: NUS, USNA, NATR, MED, SMPL. 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] 2026 data is for the year up to 4/10/2026 (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 NUS, USNA, NATR, MED, SMPL

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.

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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 a few analogies for Herbalife:

  • Amway for nutrition and weight management.
  • A direct-selling version of GNC or The Vitamin Shoppe.

AI Analysis | Feedback

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  • Weight Management Products: Offers meal replacements, protein shakes, drink mixes, weight loss enhancers, and healthy snacks to support weight goals.
  • Targeted Nutrition Products: Provides functional beverages and dietary/nutritional supplements containing herbs, vitamins, and minerals for specific health needs.
  • Energy, Sports, and Fitness Products: Includes N-R-G tea and other energy drink products designed to support vitality and athletic performance.
  • Outer Nutrition Products: Comprises a range of facial skin, body, and hair care products for external well-being.
  • Sales and Educational Materials: Supplies start-up kits, sales tools, and educational content for its independent service providers.
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AI Analysis | Feedback

Herbalife (HLF) operates a direct selling business model, meaning it sells its products primarily to a global network of independent distributors and sales representatives. These distributors then resell the products to end consumers, who are individuals.

Given that Herbalife's products are designed for individual consumption and the ultimate recipients are individuals, the company primarily serves the following categories of customers:

  • Individuals seeking Weight Management and General Wellness: This category includes consumers interested in meal replacement products, protein shakes, weight loss enhancers, and healthy snacks, as well as those looking for targeted nutrition through functional beverages, dietary supplements, vitamins, minerals, and herbal products for overall health.
  • Athletes and Fitness Enthusiasts: Customers in this group utilize Herbalife's energy, sports, and fitness products, such as N-R-G tea and other energy drinks, to support their active lifestyles, performance, and recovery.
  • Beauty and Personal Care Consumers: This category comprises individuals who purchase outer nutrition products, including facial skin care, body care, and hair care items.

AI Analysis | Feedback

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Stephan Gratziani, Chief Executive Officer

Stephan Gratziani assumed the role of Chief Executive Officer of Herbalife effective May 1, 2025. He previously served as President of Herbalife starting January 2024 and Chief Strategy Officer since August 2023. Prior to joining the corporate team, Mr. Gratziani spent 32 years as an independent Herbalife distributor, where he successfully built and expanded his international business into one of the company's top global distributorships.

John DeSimone, Chief Financial Officer

John DeSimone was appointed Chief Financial Officer in March 2024, a position he previously held from 2010 to 2018. He has been an executive at Herbalife for 17 years, also serving as President and Co-President from 2018 to 2022, and most recently as a Special Advisor to the CEO. Before joining Herbalife, Mr. DeSimone served as the controller, vice president of finance, and chief financial officer for Rexall Sundown, Inc., a publicly traded multinational manufacturer of nutritional supplements.

Michael O. Johnson, Executive Chairman

Michael O. Johnson transitioned to the role of Executive Chairman of the Board effective May 1, 2025. He has had a significant tenure with Herbalife, serving as CEO multiple times, including from 2003 to 2017, and then again from October 2022 to May 2025. Before his time at Herbalife, Mr. Johnson spent 17 years at The Walt Disney Company, where he held the position of President of Walt Disney International, expanding Disney's international markets from 34 to 80.

Rob Levy, President, Worldwide Markets

Rob Levy was appointed President, Worldwide Markets, effective May 1, 2025. He has a 30-year career at Herbalife, during which he has held various senior leadership roles and has led every region of the company.

Frank Lamberti, Chief Commercial Officer

Frank Lamberti serves as Chief Commercial Officer for Herbalife, responsible for driving commercial strategies and overseeing marketing, corporate communications, social impact, and independent distributor and customer success. Since joining Herbalife in 2005, he has held numerous leadership positions across finance, operations, regional management, and executive strategy, including Chief Operating Officer and Regional President of the Americas. Prior to Herbalife, Mr. Lamberti held leadership roles in finance and operations at companies such as Sunbeam, DHL, Rexall Sundown, Precision Response Corporation, and Blockbuster Entertainment.

AI Analysis | Feedback

The public company Herbalife (symbol: HLF) faces several key risks to its business model, primarily stemming from ongoing regulatory scrutiny of its multi-level marketing (MLM) structure, declining sales volumes, and associated reputational challenges.

1. Regulatory Scrutiny and Business Model Challenges

Herbalife's multi-level marketing business model has consistently been a subject of regulatory scrutiny and allegations of operating as a pyramid scheme. In 2016, the company entered into a settlement with the Federal Trade Commission (FTC), agreeing to pay $200 million and implement significant changes to its business practices. These changes were designed to ensure that distributor compensation is based on actual retail sales to genuine customers, rather than primarily on recruiting new distributors, and to make truthful claims about potential earnings. Despite this settlement, the risk of further regulatory challenges, litigation, and the need to continually demonstrate the legitimacy of its direct-selling model remains a significant concern. Moreover, some analyses suggest that the traditional MLM model itself may be becoming outdated due to the rise of e-commerce and increased consumer transparency.

2. Declining Sales Volume and Stagnant Organic Growth

Herbalife has experienced challenges with declining sales volumes and stagnant organic revenue growth in recent years. Reports indicate a reduction in average quarterly sales volumes, with specific declines noted in regions such as North America and Europe, the Middle East, and Africa (EMEA) in terms of volume points and net sales. This trend suggests difficulties in generating sustained demand for its products and maintaining the performance of its core business.

3. Reputational and Litigation Risks

Beyond the business model controversy, Herbalife is exposed to reputational and litigation risks related to product efficacy, safety, and advertising practices. The company has faced criticism and legal challenges concerning misleading claims about product effectiveness and income potential for distributors. Historically, there have been reports linking certain Herbalife products to health issues, such as liver damage, although the company maintains there is no evidence connecting its products to such reports. Additionally, past accusations included exceeding lead limits in products under California's Proposition 65 regulations. Such issues contribute to ongoing litigation risk and can adversely impact the company's brand image and consumer trust.

AI Analysis | Feedback

  • The proliferation of direct-to-consumer (DTC) brands in the nutrition and wellness space. These digitally native companies leverage e-commerce, social media, and influencer marketing to reach consumers directly, often offering specialized products with transparent pricing and a streamlined purchasing experience. This model directly challenges Herbalife's multi-level marketing distribution network by providing a more modern, efficient, and potentially more appealing alternative for consumers to acquire similar products.
  • The advancement of personalized nutrition platforms and services. These emerging technologies offer highly tailored dietary and supplement recommendations based on individual biometric data, genetic profiles, and AI-driven analysis. As these platforms mature, they present a disruptive alternative to Herbalife's general product lines and the broad nutritional advice typically provided by its independent distributors, by offering more scientifically precise and customized solutions directly to consumers.

AI Analysis | Feedback

Here are the estimated addressable market sizes for Herbalife's main products and services globally:

  • Weight Management: The global weight management market was valued at approximately USD 144.6 billion in 2023 and is projected to reach USD 381.5 billion by 2033.
  • Targeted Nutrition (Dietary Supplements & Functional Beverages):
    • Dietary Supplements: The global dietary supplements market size was estimated at USD 210.41 billion in 2025 and is predicted to grow to approximately USD 507.33 billion by 2035.
    • Functional Beverages: The global functional beverages market size was calculated at USD 168.32 billion in 2025 and is predicted to increase to approximately USD 314.04 billion by 2035.
  • Energy, Sports, and Fitness (Sports Nutrition & Energy Drinks):
    • Sports Nutrition: The global sports nutrition market size was valued at USD 71.55 billion in 2025 and is projected to reach USD 138.48 billion in 2033.
    • Energy Drinks: The global energy drink market size was valued at USD 87 billion in 2024 and is projected to reach USD 134 billion by 2030.
  • Outer Nutrition (Skincare & Hair Care):
    • Skincare: The global skincare market size is projected to grow from USD 159.86 billion in 2025 to USD 231.31 billion by 2032.
    • Hair Care: The global hair care market size was valued at USD 93.9 billion in 2025 and is estimated to reach USD 183.1 billion by 2034.

AI Analysis | Feedback

Herbalife Nutrition Ltd. (HLF) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

  • Strategic Pricing Initiatives: Herbalife has been implementing price increases across a majority of its markets to address region-specific conditions and offset various headwinds. These pricing actions have consistently contributed positively to net sales growth, with pricing contributing significantly to growth, as noted in recent financial reports.
  • Digital Transformation and Personalized Nutrition: The company is advancing its digital strategy, notably with the expanded beta access to its Pro2col™ app, which offers tools like customizable sales funnels, website building capabilities, and comprehensive health tracking features. Furthermore, there is a strategic focus on personalized nutrition, with personalized nutritional supplements anticipated to launch for U.S. distributors by the end of the first half of 2026. Global sports icon Cristiano Ronaldo's investment in Pro2col also underscores the ambition to scale personalized nutrition and wellness globally.
  • Regional Market Growth and Stabilization: Herbalife anticipates revenue growth from key geographic regions. North America returned to net sales growth in Q3 2025 for the first time since Q2 2021, indicating potential stabilization in a crucial market. Latin America has been leading growth at 11%, followed by EMEA at 4%. For the full year 2026, net sales growth is expected across all regions except China, which is projected to recover in 2027.
  • Expansion and Engagement of the Distributor Network: As a direct-selling company, the growth and engagement of its independent service providers and sales representatives are critical. Herbalife saw a 16% increase in new distributors on a two-year stack basis across four of five regions in Q4 2025, with North America achieving 19% year-over-year growth in new distributors for two consecutive quarters.

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Capital Allocation Decisions for Herbalife (HLF)

Share Repurchases

  • On February 9, 2021, Herbalife's board of directors authorized a three-year $1.5 billion share repurchase program, which expired on February 9, 2024, with approximately $985.5 million of remaining authorized capacity.
  • In January 2021, the company repurchased approximately $600 million of its common shares from Icahn Enterprises L.P.
  • Herbalife spent $8.2 million on share buybacks during fiscal year 2025 and $8.3 million in 2024.

Inbound Investments

  • In February 2026, global sports icon Cristiano Ronaldo invested $7.5 million for a 10% equity stake in Herbalife's Pro2col Software, LLC, a technology platform focused on personalized nutrition.

Outbound Investments

  • In the first quarter of 2025, Herbalife invested $25.5 million in cash to complete three acquisitions aimed at advancing its position in personalized nutrition and wellness trends.
  • In November 2025, the company invested $7 million to establish a new Center of Excellence in Torrance, California, dedicated to bolstering research and product development.
  • During 2025, Herbalife acquired software from Pro2col to enhance distributor productivity and customer engagement.

Capital Expenditures

  • Capital expenditures for fiscal year 2025 amounted to $80.4 million, which included $25 million in capitalized Software as a Service (SaaS) implementation costs.
  • For fiscal year 2024, capital expenditures totaled $112.2 million.
  • The primary focus of capital expenditures has been investments in management information systems, including the multi-year Digital Technology Program (Herbalife One) launched in 2022, aimed at enhancing Member-facing technology platforms and tools. Projected capital expenditures for 2026 are between $50 million and $80 million, with an additional $40 million to $60 million for capitalized SaaS costs.

Better Bets vs. Herbalife (HLF)

Trade Ideas

Select ideas related to HLF.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
MZTI_3272026_Dip_Buyer_FCFYield03272026MZTIMarzettiDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
0.9%0.9%0.0%
TAP_3272026_Dip_Buyer_FCFYield03272026TAPMolson Coors BeverageDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-0.8%-0.8%-1.1%
KHC_3202026_Dip_Buyer_FCFYield03202026KHCKraft HeinzDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
4.3%4.3%-1.7%
KMB_3202026_Dip_Buyer_FCFYield03202026KMBKimberly-ClarkDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-1.8%-1.8%-1.9%
MKC_3202026_Dip_Buyer_ValueBuy03202026MKCMcCormickDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-5.2%-5.2%-5.2%

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

HLFNUSUSNANATRMEDSMPLMedian
NameHerbalifeNu Skin .Usana He.Natures .Medifast Simply G. 
Mkt Price15.237.5218.1126.9310.0610.4412.84
Mkt Cap1.60.40.30.50.11.00.4
Rev LTM5,0381,4859254803861,4161,171
Op Inc LTM481915125-1418271
FCF LTM25346929114537
FCF 3Y Avg2135939255317456
CFO LTM333802235717358
CFO 3Y Avg32510451346019082

Growth & Margins

HLFNUSUSNANATRMEDSMPLMedian
NameHerbalifeNu Skin .Usana He.Natures .Medifast Simply G. 
Rev Chg LTM0.9%-14.3%8.3%5.7%-36.0%0.3%0.6%
Rev Chg 3Y Avg-1.1%-12.6%-2.2%4.4%-37.6%6.1%-1.7%
Rev Chg Q6.3%-16.9%5.9%4.7%-36.9%-9.4%-2.3%
QoQ Delta Rev Chg LTM1.5%-4.8%1.4%1.2%-10.2%-2.3%-0.6%
Op Mgn LTM9.5%6.1%5.5%5.2%-3.7%12.8%5.8%
Op Mgn 3Y Avg8.1%4.2%7.8%4.6%2.9%15.3%6.2%
QoQ Delta Op Mgn LTM-0.3%2.2%0.9%0.1%-2.4%-1.0%-0.1%
CFO/Rev LTM6.6%5.4%2.4%7.4%1.8%12.2%6.0%
CFO/Rev 3Y Avg6.5%6.0%5.7%7.4%6.5%14.0%6.5%
FCF/Rev LTM5.0%3.1%0.9%6.0%0.3%10.2%4.1%
FCF/Rev 3Y Avg4.2%3.4%4.3%5.4%5.4%12.9%4.8%

Valuation

HLFNUSUSNANATRMEDSMPLMedian
NameHerbalifeNu Skin .Usana He.Natures .Medifast Simply G. 
Mkt Cap1.60.40.30.50.11.00.4
P/S0.30.20.41.00.30.70.3
P/EBIT3.21.77.815.8-7.8-7.72.5
P/E6.92.331.124.1-5.9-9.14.6
P/CFO4.74.514.813.316.15.69.5
Total Yield14.5%47.1%3.2%4.1%-16.7%-11.0%3.7%
Dividend Yield0.0%3.2%0.0%0.0%0.2%0.0%0.0%
FCF Yield 3Y Avg19.3%12.2%5.1%7.4%9.7%7.3%8.6%
D/E1.40.80.10.00.10.50.3
Net D/E1.20.2-0.4-0.2-1.40.30.0

Returns

HLFNUSUSNANATRMEDSMPLMedian
NameHerbalifeNu Skin .Usana He.Natures .Medifast Simply G. 
1M Rtn0.1%5.8%5.2%6.9%5.6%-27.6%5.4%
3M Rtn1.7%-26.7%-8.8%23.9%-11.9%-51.2%-10.3%
6M Rtn77.1%-26.0%-10.6%84.7%-24.2%-56.5%-17.4%
12M Rtn127.7%23.8%-26.8%123.5%-20.8%-72.5%1.5%
3Y Rtn3.5%-79.3%-71.6%155.7%-89.2%-71.2%-71.4%
1M Excs Rtn-3.8%2.3%2.2%8.2%-1.2%-30.2%0.5%
3M Excs Rtn5.3%-25.1%-8.0%23.9%-7.3%-47.9%-7.6%
6M Excs Rtn65.5%-33.3%-32.6%78.6%-29.2%-57.5%-30.9%
12M Excs Rtn78.9%-8.7%-62.0%87.4%-56.8%-105.4%-32.8%
3Y Excs Rtn-68.6%-145.2%-138.0%100.4%-155.8%-139.3%-138.6%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Weight Management2,7682,8522,9543,3703,313
Targeted Nutrition1,4841,4801,5131,6371,527
Energy, Sports, and Fitness572560551552437
Literature, Promotional, and Other8588101136153
Outer Nutrition848286108111
Total4,9935,0625,2045,8035,542


Price Behavior

Price Behavior
Market Price$15.23 
Market Cap ($ Bil)1.6 
First Trading Date12/16/2004 
Distance from 52W High-23.7% 
   50 Days200 Days
DMA Price$16.32$12.06
DMA Trendupup
Distance from DMA-6.7%26.3%
 3M1YR
Volatility59.2%63.6%
Downside Capture0.410.55
Upside Capture131.67180.15
Correlation (SPY)29.7%30.5%
HLF Betas & Captures as of 3/31/2026

 1M2M3M6M1Y3Y
Beta2.131.581.541.141.050.94
Up Beta1.481.111.110.880.810.77
Down Beta0.552.922.461.170.920.87
Up Capture197%102%198%249%225%91%
Bmk +ve Days7162765139424
Stock +ve Days6163262119360
Down Capture303%134%67%53%114%105%
Bmk -ve Days12233358110323
Stock -ve Days15253062129379

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HLF
HLF118.4%63.9%1.47-
Sector ETF (XLP)10.3%13.3%0.4831.7%
Equity (SPY)31.2%17.3%1.4729.4%
Gold (GLD)60.1%27.8%1.69-0.5%
Commodities (DBC)29.8%16.6%1.58-5.2%
Real Estate (VNQ)21.3%15.2%1.0733.7%
Bitcoin (BTCUSD)-4.3%43.7%0.029.3%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HLF
HLF-19.4%60.1%-0.12-
Sector ETF (XLP)6.3%13.2%0.2626.2%
Equity (SPY)11.1%17.0%0.5027.1%
Gold (GLD)22.1%17.8%1.022.5%
Commodities (DBC)11.8%18.8%0.524.4%
Real Estate (VNQ)3.7%18.8%0.1029.3%
Bitcoin (BTCUSD)4.3%56.5%0.3010.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HLF
HLF-6.8%49.5%0.05-
Sector ETF (XLP)7.2%14.7%0.3627.3%
Equity (SPY)13.8%17.9%0.6632.1%
Gold (GLD)14.2%15.9%0.741.5%
Commodities (DBC)8.6%17.6%0.4111.2%
Real Estate (VNQ)5.1%20.7%0.2228.9%
Bitcoin (BTCUSD)67.6%66.9%1.0710.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date3312026
Short Interest: Shares Quantity7.9 Mil
Short Interest: % Change Since 3152026-8.2%
Average Daily Volume1.3 Mil
Days-to-Cover Short Interest6.1 days
Basic Shares Quantity103.4 Mil
Short % of Basic Shares7.6%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
2/18/202618.3%16.4%-10.0%
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%
...
SUMMARY STATS   
# Positive101112
# Negative131211
Median Positive12.6%13.2%11.3%
Median Negative-6.1%-7.7%-16.1%
Max Positive42.7%53.4%43.4%
Max Negative-31.7%-27.7%-30.9%

SEC Filings

Expand for More
Report DateFiling DateFiling
12/31/202502/18/202610-K
09/30/202511/05/202510-Q
06/30/202508/06/202510-Q
03/31/202504/30/202510-Q
12/31/202402/19/202510-K
09/30/202410/30/202410-Q
06/30/202407/31/202410-Q
03/31/202405/01/202410-Q
12/31/202302/14/202410-K
09/30/202311/01/202310-Q
06/30/202308/02/202310-Q
03/31/202305/02/202310-Q
12/31/202202/14/202310-K
09/30/202210/31/202210-Q
06/30/202208/02/202210-Q
03/31/202205/03/202210-Q

Recent Forward Guidance [BETA]

Latest: Q4 2025 Earnings Reported 2/18/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Revenue Growth3.0%5.0%7.0%  Higher New
Q1 2026 Adjusted EBITDA155.00 Mil165.00 Mil175.00 Mil  Higher New
Q1 2026 CapEx10.00 Mil15.00 Mil20.00 Mil-34.8% Lower NewActual: 23.00 Mil for Q4 2025
2026 Revenue Growth1.0%3.5%6.0%1650.0%3.3%Higher NewActual: 0.2% for 2025
2026 Adjusted EBITDA670.00 Mil690.00 Mil710.00 Mil6.2% Higher NewActual: 650.00 Mil for 2025
2026 CapEx50.00 Mil65.00 Mil80.00 Mil-23.5% Lower NewActual: 85.00 Mil for 2025

Prior: Q3 2025 Earnings Reported 11/5/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q4 2025 Revenue Growth1.5%3.5%5.5%   
Q4 2025 Adjusted EBITDA144.00 Mil149.00 Mil154.00 Mil   
Q4 2025 Capital Expenditures18.00 Mil23.00 Mil28.00 Mil   
2025 Revenue Growth-0.3%0.2%0.7%-80.0%-0.8%LoweredGuidance: 1.0% for 2025
2025 Adjusted EBITDA645.00 Mil650.00 Mil655.00 Mil0 AffirmedGuidance: 650.00 Mil for 2025
2025 Capital Expenditures80.00 Mil85.00 Mil90.00 Mil0 AffirmedGuidance: 85.00 Mil for 2025
2025 Capitalized SaaS implementation costs25.00 Mil27.50 Mil30.00 Mil   

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1L'Helias, SophieDirectBuy1201202513.224005,288872,560Form
2L'Helias, SophieDirectBuy1201202512.7080010,160848,398Form
3Cloud, LyndaDirectBuy112020258.9717,000152,490348,547Form
4Mendoza, Juan MiguelDirectBuy60920257.503,14323,5721,275,000Form
5Mendoza, Juan MiguelDirectBuy52320256.755,00033,7501,126,285Form

Industry Resources

Packaged Foods & Meats Resources
USDA Data