Herbalife (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 Sep 5, 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 (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 dominant mechanic is margin recovery through leaner operating costs, while balance-sheet repair still trails the improvement in profits.
FY2025 margin expansion came mainly from lower SG&A while gross margin held broadly steady at77.9% , pointing to cost discipline rather than a product-mix overhaul. That operating improvement did not fully reach cash: free cash flow was$253M against operating cash flow of$333M , with reinvestment spending absorbing part of the cash generated.
Operating efficiency recovered after FY2023: operating margin improved by
Balance-sheet repair is visible but incomplete: negative equity narrowed materially from FY2023 to FY2025 as liabilities declined, yet the current ratio was only 1.1x. Long-term debt also fell, but the still-negative equity base makes conventional debt-to-equity readings difficult to interpret.
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. 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'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 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 67/100, reflecting efficient cost management and pricing power. This is up from 7.7% the prior year.
Herbalife'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's current ratio of 1.13 is below the typical benchmark, resulting in a score of 25/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Herbalife has a free cash flow margin of 5.0%, earning a moderate score of 42/100. The company generates positive cash flow after capital investments, but with room for improvement.
Herbalife scores 2.38, placing it in the grey zone between 1.81 and 2.99. 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 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 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 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 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'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 reported -$26.3M in net income 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 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 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 held $370.5M in cash against $2.0B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Herbalife'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'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'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 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 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-Q | 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 | $436.2M-2.6% | $431.4M-0.1% | $336.9M-22.9% | $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% | -$34.6M+72.4% | $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-Q | 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 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| 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 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| 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 | -$474.5M+28.2% | -$441.5M+40.0% | -$515.1M+35.7% | -$612.0M+35.9% | -$660.5M+36.3% | -$736.0M+29.0% | -$801.1M+24.4% | -$954.2M+13.5% |
| Retained Earnings | -$544.1M+23.2% | -$517.8M+31.7% | -$579.7M+28.3% | -$665.1M+32.5% | -$708.3M+31.5% | -$757.6M+27.0% | -$808.0M+23.9% | -$985.9M+8.1% |
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-Q | 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% | $102.9M+668.5% | $79.8M+81.8% | $118.0M+63.0% | $73.2M+10.6% | -$18.1M+5.2% | $43.9M-27.8% | $72.4M+49.3% |
| Investing Cash Flow | -$21.6M+57.3% | -$11.2M+40.4% | -$18.7M+27.0% | -$20.6M-306.0% | -$50.6M-39.8% | -$18.8M+42.7% | -$25.6M+27.3% | $10.0M+132.2% |
| Financing Cash Flow | -$82.7M-37.4% | $2.0M+102.8% | -$32.7M-263.3% | -$130.4M-51.5% | -$60.2M+26.6% | -$72.2M+54.4% | -$9.0M-208.4% | -$86.1M-20.8% |
| Share Buybacks | $9.3M+102.2% | $700K-68.2% | $100K-96.2% | $1.3M | $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-Q | 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.
Note: Shareholder equity is negative (-$515.1M), which causes debt-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 HLF | FY2025 | $5.0B | $228.3M | 4.5% | $1.3B | 46/100 |
| Treehouse Foods THS | FY2024 | $3.4B | $26.9M | 0.8% | $1.2B | 29/100 |
| Utz Brands Inc UTZ | FY2025 | $1.4B | $800K | 0.1% | $1.3B | 29/100 |
| Seneca Foods Corp SENEB | FY2026 | N/A | $114.7M | N/A | $1.4B | — |
| Seneca Foods Corp SENEA | FY2026 | N/A | $114.7M | N/A | $1.3B | — |
| John B. Sanfilippo & Son JBSS | FY2026 | $1.2B | $61.9M | 5.3% | $846.7M | 62/100 |
Where Herbalife Ranks
Frequently Asked Questions
What is Herbalife's annual revenue?
Herbalife (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's revenue growing?
Herbalife (HLF) revenue grew by 0.9% year-over-year, from $5.0B to $5.0B in fiscal year 2025.
Is Herbalife profitable?
Yes, Herbalife (HLF) reported a net income of $228.3M in fiscal year 2025, with a net profit margin of 4.5%.
What is Herbalife's EBITDA?
Herbalife (HLF) had EBITDA of $602.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Herbalife have?
As of fiscal year 2025, Herbalife (HLF) had $353.1M in cash and equivalents against $2.0B in long-term debt.
What is Herbalife's gross margin?
Herbalife (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's operating margin?
Herbalife (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's net profit margin?
Herbalife (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's free cash flow?
Herbalife (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's operating cash flow?
Herbalife (HLF) generated $333.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Herbalife's total assets?
Herbalife (HLF) had $2.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Herbalife's capital expenditures?
Herbalife (HLF) invested $80.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Herbalife's current ratio?
Herbalife (HLF) had a current ratio of 1.13 as of fiscal year 2025, which is considered adequate.
What is Herbalife's return on assets (ROA)?
Herbalife (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's P/E ratio?
Herbalife (HLF) trades at 7.9x earnings, its market capitalization divided by net income of $164.2M net income, trailing 12 months to June 30, 2026. The market capitalization is $1.3B as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Herbalife's price-to-sales ratio?
Herbalife (HLF) trades at 0.2x sales, its market capitalization divided by revenue of $5.2B revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.3B as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Herbalife's debt-to-equity ratio negative or not reported?
Herbalife (HLF) has negative shareholder equity of -$515.1M as of fiscal year 2025, so no debt-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's Altman Z-Score?
Herbalife (HLF) has an Altman Z-Score of 2.38, 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's Piotroski F-Score?
Herbalife (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's earnings high quality?
Herbalife (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 cover its interest payments?
Herbalife (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?
Herbalife (HLF) scores 46 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite 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.