Herbalife Ltd. (HLF) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 22, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HLF SEC filings page.
Herbalife Ltd. (HLF) reported $5.2B in revenue over the twelve months to Jun 30, 2026, up 5.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Herbalife’s 2025 recovery came mainly from leaner overhead and lower reinvestment, while liabilities still exceeded assets and equity stayed negative.
With revenue nearly flat, SG&A fell from$1.9B to$1.7B , so operating profit rose without needing top-line growth. That cost-led improvement lifted operating margin from7.7% to9.6% , distinguishing efficiency gains from volume expansion.
Cash conversion improved: operating cash flow reached
The balance sheet remains liability-funded: total liabilities exceeded total assets in FY2025, leaving equity at
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Herbalife Ltd.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Herbalife Ltd. has an operating margin of 9.6%, meaning the company retains $10 of operating profit per $100 of revenue. This strong profitability earns a score of 65/100, reflecting efficient cost management and pricing power. This is up from 7.7% the prior year.
Herbalife Ltd.'s revenue grew a modest 0.9% year-over-year to $5.0B. This slow but positive growth earns a score of 30/100.
Herbalife Ltd.'s current ratio of 1.13 is below the typical benchmark, resulting in a score of 26/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Herbalife Ltd. has a free cash flow margin of 5.0%, earning a moderate score of 43/100. The company generates positive cash flow after capital investments, but with room for improvement.
Herbalife Ltd. scores 2.41, placing it in the grey zone between 1.81 and 2.99. The largest contribution to the score comes from revenue of $5.0B against total assets of $2.8B. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Herbalife Ltd. passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Herbalife Ltd. generates $1.46 in operating cash flow ($333.3M OCF vs $228.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Herbalife Ltd. earns $2.24 in operating income for every $1 of interest expense ($481.0M vs $214.4M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Herbalife Ltd. generated $1.3B in revenue in Q2 2026. This represents an increase of 5.4% from the same quarter a year earlier. Against the prior quarter it is up 0.7%.
Herbalife Ltd.'s EBITDA was $159.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 2.1% from the same quarter a year earlier. Against the prior quarter it is down 4.8%.
Herbalife Ltd. reported a net loss of $26.3M in Q2 2026. This represents a decrease of 153.3% from the same quarter a year earlier. Against the prior quarter it is down 142.5%.
Herbalife Ltd. earned -$0.25 per diluted share (EPS) in Q2 2026. This represents a decrease of 152.1% from the same quarter a year earlier. Against the prior quarter it is down 143.9%.
Cash & Balance Sheet
Herbalife Ltd. generated $21.6M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 70.5% from the same quarter a year earlier. Against the prior quarter it is down 79.0%.
Herbalife Ltd. held $370.5M in cash against $2.0B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Herbalife Ltd.'s gross margin was 77.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 0.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.2 percentage points.
Herbalife Ltd.'s operating margin was 9.7% in Q2 2026, reflecting core business profitability. This is down 0.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.8 percentage points.
Herbalife Ltd.'s net profit margin was -2.0% in Q2 2026, showing the share of revenue converted to profit. This is down 5.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 6.7 percentage points.
Not reported for Q2 2026.
Capital Allocation
Herbalife Ltd. spent $9.3M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 102.2% from the same quarter a year earlier. Against the prior quarter it is up 1228.6%.
Herbalife Ltd. invested $11.3M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 50.4% from the same quarter a year earlier. Against the prior quarter it is up 3.7%.
Not reported for Q2 2026.
HLF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.3B+5.4% | $1.3B+7.8% | $1.3B+6.3% | $1.3B+2.7% | $1.3B-1.7% | $1.2B-3.4% | $1.2B-0.6% | $1.2B-3.2% |
| Cost of Revenue | $296.3M+7.0% | $291.1M+9.8% | $288.3M+7.8% | $284.2M+5.8% | $276.9M-2.2% | $265.2M-6.9% | $267.5M-7.0% | $268.7M-11.4% |
| Gross Profit | $1.0B+4.9% | $1.0B+7.3% | $994.7M+5.8% | $989.5M+1.8% | $982.2M-1.6% | $956.5M-2.3% | $939.9M+1.3% | $971.6M-0.7% |
| SG&A Expenses | $902.2M+101.4% | $893.2M+106.8% | $2.1B+385.1% | $447.6M+0.8% | $447.9M-10.8% | $431.9M-12.3% | $436.9M-7.9% | $444.0M-2.5% |
| Operating Income | $128.3M-3.2% | $138.4M+12.7% | $99.8M-6.3% | $125.8M-1.0% | $132.6M+64.9% | $122.8M+70.8% | $106.5M+90.9% | $127.1M+19.1% |
| EBITDA | $159.7M-2.1% | $167.8M+9.3% | $129.1M-4.7% | $156.5M-0.8% | $163.1M+44.3% | $153.5M+51.8% | $135.5M+61.3% | $157.7M+16.7% |
| Interest Expense | $37.4M-30.2% | $46.8M-10.0% | $57.8M-12.7% | $51.0M-9.7% | $53.6M-7.1% | $52.0M+37.2% | $66.2M+33.5% | $56.5M+46.8% |
| Income Tax | $22.8M-23.5% | $30.4M+49.0% | -$34.6Mn/m | $31.7M+36.6% | $29.8M+297.3% | $20.4M+110.3% | -$125.3M-1770.7% | $23.2M-12.1% |
| Net Income | -$26.3M-153.3% | $61.9M+22.8% | $85.4M-52.0% | $43.2M-8.9% | $49.3M+948.9% | $50.4M+107.4% | $177.9M+1644.1% | $47.4M+10.7% |
| EPS (Basic) | -$0.25-152.1% | $0.60+20.0% | $0.83-53.1% | $0.42-10.6% | $0.48+860.0% | $0.50+108.3% | $1.77+1509.1% | $0.47+9.3% |
| EPS (Diluted) | -$0.25-152.1% | $0.57+16.3% | $0.82-53.1% | $0.42-8.7% | $0.48+860.0% | $0.49+104.2% | $1.75+1650.0% | $0.46+7.0% |
| Diluted Shares (Avg) | 105M+1.2% | 108M+6.1% | N/A | 104M+2.1% | 103M+1.6% | 102M+1.5% | N/A | 102M+1.5% |
Not reported in any period shown, so not listed: R&D Expenses.
HLF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.9B+4.4% | $2.9B+7.1% | $2.8B+2.1% | $2.7B+1.6% | $2.7B+5.1% | $2.7B+1.4% | $2.7B-2.9% | $2.7B-2.6% |
| Current Assets | $1.2B+6.0% | $1.3B+14.5% | $1.1B+0.1% | $1.1B-11.1% | $1.1B-9.1% | $1.1B-10.8% | $1.1B-18.3% | $1.2B-7.5% |
| Cash & Equivalents | $370.5M+15.5% | $451.2M+37.0% | $353.1M-15.0% | $305.5M-24.1% | $320.9M-14.2% | $329.4M-17.3% | $415.3M-27.8% | $402.5M-18.8% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Inventory | $507.7M-1.1% | $494.6M+1.4% | $511.7M+7.6% | $512.5M-0.5% | $513.1M+6.7% | $488.0M-2.8% | $475.4M-5.9% | $515.3M+3.7% |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Goodwill | $125.9M+24.7% | $99.1M+11.1% | $100.5M+14.6% | $101.0M+8.5% | $101.0M+10.4% | $89.2M-5.0% | $87.7M-8.1% | $93.1M+0.3% |
| Total Liabilities | $3.3B-1.9% | $3.3B-3.2% | $3.3B-6.6% | $3.3B-8.4% | $3.4B-6.8% | $3.4B-7.1% | $3.5B-8.8% | $3.6B-5.8% |
| Current Liabilities | $973.5M-11.0% | $1.0B-9.5% | $1.0B-17.7% | $999.9M-22.2% | $1.1B+12.1% | $1.1B+19.5% | $1.2B-3.7% | $1.3B+10.3% |
| Non-Current Liabilities | $2.4B+2.4% | $2.3B-0.2% | $2.3B-0.7% | $2.3B-0.8% | $2.3B-13.8% | $2.3B-16.3% | $2.3B-11.3% | $2.3B-12.8% |
| Long-Term Debt | $2.0B+1.5% | $2.0B+0.3% | $2.0B-0.2% | $2.0B+1.0% | $2.0B-15.0% | $2.0B-17.9% | $2.0B-12.3% | $2.0B-14.7% |
| Total Equity | -$474.5Mn/m | -$441.5Mn/m | -$515.1Mn/m | -$612.0Mn/m | -$660.5Mn/m | -$736.0Mn/m | -$801.1Mn/m | -$954.2Mn/m |
| Retained Earnings | -$544.1Mn/m | -$517.8Mn/m | -$579.7Mn/m | -$665.1Mn/m | -$708.3Mn/m | -$757.6Mn/m | -$808.0Mn/m | -$985.9Mn/m |
Not reported in any period shown, so not listed: Accounts Receivable.
HLF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $32.9M-65.7% | $113.8M+56800.0% | $98.3M+41.2% | $138.8M+39.5% | $96.0M-6.3% | $200K-98.6% | $69.6M-27.6% | $99.5M+25.0% |
| Depreciation & Amortization | $31.4M+3.0% | $29.4M-4.2% | $29.3M+1.0% | $30.7M+0.3% | $30.5M-6.4% | $30.7M+5.1% | $29.0M+2.8% | $30.6M+7.7% |
| Stock-Based Compensation | $10.1M-2.9% | $10.6M-8.6% | N/A | $11.2M-13.8% | $10.4M-11.9% | $11.6M-2.5% | N/A | $13.0M-5.1% |
| Capital Expenditures | $11.3M-50.4% | $10.9M-40.4% | $18.5M-28.0% | $20.8M-23.2% | $22.8M-37.2% | $18.3M-44.4% | $25.7M-27.2% | $27.1M-12.9% |
| Free Cash Flow | $21.6M-70.5% | $102.9Mn/m | $79.8M+81.8% | $118.0M+63.0% | $73.2M+10.6% | -$18.1Mn/m | $43.9M-27.8% | $72.4M+49.3% |
| Investing Cash Flow | -$21.6Mn/m | -$11.2Mn/m | -$18.7Mn/m | -$20.6M-306.0% | -$50.6Mn/m | -$18.8Mn/m | -$25.6Mn/m | $10.0Mn/m |
| Financing Cash Flow | -$82.7Mn/m | $2.0Mn/m | -$32.7Mn/m | -$130.4Mn/m | -$60.2Mn/m | -$72.2Mn/m | -$9.0M-208.4% | -$86.1Mn/m |
| Share Buybacks | $9.3M+102.2% | $700K-68.2% | $100K-96.2% | $1.3Mn/m | $4.6M+35.3% | $2.2M-4.3% | $2.6M+100.0% | $0-100.0% |
Not reported in any period shown, so not listed: Dividends Paid.
HLF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 77.7%-0.3pp | 77.9%-0.4pp | 77.5%-0.3pp | 77.7%-0.6pp | 78.0%+0.1pp | 78.3%+0.8pp | 77.8%+1.5pp | 78.3%+2.0pp |
| Operating Margin | 9.7%-0.9pp | 10.5%+0.5pp | 7.8%-1.0pp | 9.9%-0.4pp | 10.5%+4.3pp | 10.1%+4.4pp | 8.8%+4.2pp | 10.3%+1.9pp |
| Net Margin | -2.0%-5.9pp | 4.7%+0.6pp | 6.7%-8.1pp | 3.4%-0.4pp | 3.9%+3.5pp | 4.1%+2.2pp | 14.7%+13.9pp | 3.8%+0.5pp |
| Return on Assets | -0.9%-2.7pp | 2.1%+0.3pp | 3.1%-3.4pp | 1.6%-0.2pp | 1.8%+1.6pp | 1.9%+1.0pp | 6.5%+6.2pp | 1.8%+0.2pp |
| Current Ratio | 1.20+0.2x | 1.23+0.3x | 1.13+0.2x | 1.11+0.1x | 1.01-0.2x | 0.97-0.3x | 0.93-0.2x | 0.97-0.2x |
| Asset Turnover | 0.460.0x | 0.460.0x | 0.460.0x | 0.470.0x | 0.460.0x | 0.460.0x | 0.440.0x | 0.470.0x |
| FCF Margin | 1.6%-4.2pp | 7.8%+9.3pp | 6.2%+2.6pp | 9.3%+3.4pp | 5.8%+0.6pp | -1.5%0.0pp | 3.6%-1.4pp | 5.8%+2.0pp |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity, Liabilities-to-Equity.
Note: Shareholder equity is negative (-$515.1M), which causes the debt-to-equity, liabilities-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Herbalife Ltd. HLF | FY2025 | $5.0B | $228.3M | 4.5% | $1.4B | 46/100 |
| Utz Brands, Inc. UTZ | FY2025 | $1.4B | $800K | 0.1% | $2.1B | 29/100 |
| Seneca Foods Corp SENEB | FY2026 | N/A | $114.7M | N/A | $1.2B | — |
| Seneca Foods Corp SENEA | FY2026 | N/A | $114.7M | N/A | $1.1B | — |
| John B. Sanfilippo & SON JBSS | FY2026 | $1.2B | $61.9M | 5.3% | $798.3M | 61/100 |
Where Herbalife Ltd. Ranks
Frequently Asked Questions
What is Herbalife Ltd.'s annual revenue?
Herbalife Ltd. (HLF) reported $5.0B in total revenue for fiscal year 2025. This represents a 0.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Herbalife Ltd.'s revenue growing?
Herbalife Ltd. (HLF) revenue grew by 0.9% year-over-year, from $5.0B to $5.0B in fiscal year 2025.
Is Herbalife Ltd. profitable?
Yes, Herbalife Ltd. (HLF) reported a net income of $164.2M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $228.3M, with a net profit margin of 4.5%.
What is Herbalife Ltd.'s EBITDA?
Herbalife Ltd. (HLF) had EBITDA of $602.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Herbalife Ltd. have?
As of fiscal year 2025, Herbalife Ltd. (HLF) had $353.1M in cash and equivalents against $2.0B in long-term debt.
What is Herbalife Ltd.'s gross margin?
Herbalife Ltd. (HLF) had a gross margin of 77.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Herbalife Ltd.'s operating margin?
Herbalife Ltd. (HLF) had an operating margin of 9.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Herbalife Ltd.'s net profit margin?
Herbalife Ltd. (HLF) had a net profit margin of 4.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Herbalife Ltd.'s free cash flow?
Herbalife Ltd. (HLF) generated $252.9M in free cash flow during fiscal year 2025. This represents a 54.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Herbalife Ltd.'s operating cash flow?
Herbalife Ltd. (HLF) generated $333.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Herbalife Ltd.'s total assets?
Herbalife Ltd. (HLF) had $2.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Herbalife Ltd.'s capital expenditures?
Herbalife Ltd. (HLF) invested $80.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Herbalife Ltd.'s current ratio?
Herbalife Ltd. (HLF) had a current ratio of 1.13 as of fiscal year 2025, which is considered adequate.
What is Herbalife Ltd.'s return on assets (ROA)?
Herbalife Ltd. (HLF) had a return on assets of 8.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Herbalife Ltd.'s P/E ratio?
Herbalife Ltd. (HLF) trades at 8.8x earnings, its market capitalization divided by $164.2M net income, trailing 12 months to June 30, 2026. The market capitalization is $1.4B as of Oct 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Herbalife Ltd.'s price-to-sales ratio?
Herbalife Ltd. (HLF) trades at 0.3x sales, its market capitalization divided by $5.2B revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.4B as of Oct 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Herbalife Ltd.'s debt-to-equity ratio negative or not reported?
Herbalife Ltd. (HLF) has negative shareholder equity of -$515.1M as of fiscal year 2025, so no debt-to-equity or liabilities-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Herbalife Ltd.'s Altman Z-Score?
Herbalife Ltd. (HLF) has an Altman Z-Score of 2.41, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Herbalife Ltd.'s Piotroski F-Score?
Herbalife Ltd. (HLF) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Herbalife Ltd.'s earnings high quality?
Herbalife Ltd. (HLF) has an earnings quality ratio of 1.46x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Herbalife Ltd. cover its interest payments?
Herbalife Ltd. (HLF) has an interest coverage ratio of 2.24x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Herbalife Ltd.?
Herbalife Ltd. (HLF) scores 46 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.