Herbalife Ltd. (HLF)

Herbalife Ltd., together with its subsidiaries, provides health and wellness products in North America, Mexico, South and Central America, Europe, the Middle East, Africa, China, and the Asia Pacific. It offers weight management products, including meal replacement, protein shakes, drink mixes, weight loss supplements, healthy snacks, and metabolism boosting teas; targeted nutrition products comprising functional beverages and dietary and nutritional supplements containing herbs, vitamins, minerals and other natural ingredients; energy, sports, and fitness products; and facial skin care, body care, and hair care products. The company also provides literature, promotional, and other materials, such as start-up kits, sales tools, and educational materials. It sells its products through sales representatives, independent service providers, and company-operated retail stores and platforms. The company was formerly known as Herbalife Nutrition Ltd. and changed its name to Herbalife Ltd. in April 2023. Herbalife Ltd. was founded in 1980 and is headquartered in Los Angeles, California.

Ticker: HLF
Exchange: NYSE
Sector: Consumer Defensive
Industry: Packaged Foods
Market cap: $1.60B
52-week range: $8.50 - $20.40

Valuation

Share price: $15.28 (close of Nov 6, 2026)
P/E (TTM): 8.83x
Price to book: -3.97x
Price to free cash flow: 4.75x
Enterprise value: $3.30B
Book value per share: $-3.85

Price performance

Period	Change
1 day	+2.55%
5 days	+17.09%
1 month	+21.46%
3 months	+32.75%
6 months	-7.06%
Year to date	+18.54%
1 year	+66.09%
3 years	+10.89%
5 years	-64.62%
10 years	-44.40%
All time	+315.22%

Short interest

As of: Oct 15, 2026
Short % of float: 8.89%
Shares short: 7.99M
Days to cover: 5.55
Change since prior report: -1.98%
Source: FINRA consolidated short interest

Profitability and growth

Return on invested capital: 25.90%
Return on assets: 8.19%
Return on capital employed: 27.13%
Gross margin: 77.87%
Net margin: 4.53%
EBITDA margin: 11.95%
Revenue growth: 0.89%
Net income growth: -10.22%
Free cash flow growth: 54.77%

Cash flow and balance sheet

Free cash flow yield (TTM): 21.05%
Current ratio: 1.19x
Net debt to EBITDA: 3.15x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $5.04B
Cost of revenue: $1.11B
Gross profit: $3.92B
EBITDA: $602.20M
Net income: $228.30M
Earnings per share: $2.22
Interest expense: $214.40M
Shares outstanding: 102.80M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$5.04B	$3.92B	$228.30M	$2.22
2024-12-31	$4.99B	$3.89B	$254.30M	$2.53
2023-12-31	$5.06B	$3.87B	$142.20M	$1.44
2022-12-31	$5.20B	$4.03B	$321.30M	$3.26
2021-12-31	$5.80B	$4.56B	$447.20M	$4.22
2020-12-31	$5.54B	$4.39B	$372.60M	$2.83
2019-12-31	$4.88B	$3.92B	$311.00M	$2.26
2018-12-31	$4.89B	$3.97B	$296.60M	$2.12
2017-12-31	$4.43B	$3.58B	$213.90M	$1.35
2016-12-31	$4.49B	$3.63B	$260.00M	$1.57

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	77.87%	4.53%	-	25.90%
2024-12-31	77.88%	5.09%	-	23.13%
2023-12-31	76.47%	2.81%	-	17.29%
2022-12-31	77.45%	6.17%	-	26.67%
2021-12-31	78.64%	7.71%	-	38.39%
2020-12-31	79.24%	6.72%	-	27.37%
2019-12-31	80.36%	6.38%	-	26.38%
2018-12-31	81.21%	6.06%	-	29.79%
2017-12-31	80.83%	4.83%	-	18.61%
2016-12-31	80.96%	5.79%	132.45%	21.49%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$353.10M	$1.97B
2024-12-31	$415.30M	$1.98B
2023-12-31	$575.20M	$2.25B
2022-12-31	$508.00M	$2.66B
2021-12-31	$601.50M	$2.73B
2020-12-31	$1.05B	$2.41B
2019-12-31	$839.40M	$1.78B
2018-12-31	$1.20B	$1.77B
2017-12-31	$1.28B	$2.17B
2016-12-31	$844.00M	$1.44B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$252.90M	$44.10M
2024-12-31	$163.40M	$50.00M
2023-12-31	$222.50M	$48.00M
2022-12-31	$196.10M	$44.40M
2021-12-31	$308.90M	$54.10M
2020-12-31	$516.60M	$51.00M
2019-12-31	$351.40M	$38.60M
2018-12-31	$564.40M	$35.50M
2017-12-31	$495.30M	$42.10M
2016-12-31	$223.90M	$40.20M

Dividend history

Most recent payment: Feb 28, 2014

Payment date	Dividend per share
2014-02-28	$0.30
2013-11-07	$0.30
2013-08-09	$0.30
2013-05-10	$0.30
2013-03-01	$0.30
2012-11-09	$0.30
2012-08-10	$0.30
2012-05-11	$0.30

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-11-02	Sep 2026	$0.73
2026-08-05	Jun 2026	$0.63
2026-05-06	Mar 2026	$0.55
2026-02-18	Dec 2025	$0.48
2025-11-05	Sep 2025	$0.47
2025-08-06	Jun 2025	$0.53
2025-04-30	Mar 2025	$0.40
2025-02-19	Dec 2024	$0.10

Filings and sources

Company website: herbalife.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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