HLFMEDIUM SIGNALFINANCIAL10-K

HLF shows improving operational performance with 24.6% operating income growth and significantly reduced negative stockholders' equity, while expanding product portfolio into new categories like skincare and longevity supplements.

The substantial improvement in stockholders' equity from -$801M to -$515M, combined with debt reduction and higher operating cash flow, suggests meaningful progress in financial health despite declining net income. The company's expansion into higher-margin categories like skincare and longevity products (Life I/O brand) indicates strategic diversification beyond traditional weight management products.

Comparing 2026-02-18 vs 2025-02-19View on EDGAR →
FINANCIAL ANALYSIS

HLF demonstrates mixed but generally positive financial trends, with operating income surging 24.6% and operating cash flow up 16.8%, while the company significantly improved its balance sheet by reducing total debt 11.8% and cutting negative stockholders' equity by over $280M. However, net income declined 10.2% and cash reserves dropped 15%, suggesting higher interest expenses or tax impacts offset operational gains. Overall, the financial picture signals operational improvement and balance sheet repair, though cash management and bottom-line profitability warrant monitoring.

FINANCIAL STATEMENT CHANGES
Stockholders Equity
Balance Sheet
+35.7%
-$801.1M-$515.1M

Equity base grew 35.7% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Capital Expenditure
Cash Flow
-34.1%
$122.0M$80.4M

Capex reduced 34.1% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Operating Income
P&L
+24.6%
$385.9M$481.0M

Operating income improving — cost discipline or growing revenue base absorbing fixed costs.

Current Liabilities
Balance Sheet
-17.7%
$1.2B$1.0B

Current liabilities reduced — improved short-term financial position and working capital health.

Operating Cash Flow
Cash Flow
+16.8%
$285.4M$333.3M

Operating cash flow grew 16.8% — strong conversion of earnings to cash, healthy business fundamentals.

Cash & Equivalents
Balance Sheet
-15%
$415.3M$353.1M

Cash decreased 15% — monitor burn rate and upcoming capital needs.

Total Debt
Balance Sheet
-11.8%
$2.3B$2.0B

Debt reduced 11.8% — deleveraging strengthens balance sheet and reduces financial risk.

Net Income
P&L
-10.2%
$254.3M$228.3M

Net income declined 10.2% — review whether driven by operations, interest costs, or non-recurring items.

LANGUAGE CHANGES
NEW — 2026-02-18
PRIOR — 2025-02-19
ADDED
The aggregate market value of the voting stock of the registrant held by stockholders who were not affiliates (as defined by regulations of the Securities and Exchange Commission) of the registrant was approximately $ 762 million as of June 30, 2025, based upon the last reported sales price on the New York Stock Exchange on the last business day of the second fiscal quarter of $8.62.
We provide weight management, targeted nutrition, energy, sports and fitness, and outer nutrition products in 95 markets around the world.
For instance, in 2025, we launched HL/Skin, a new skincare line in Europe and Africa, leveraging advanced Korean skincare science.
We also expanded into healthy snacking options with the recent launch of Protein Gelato in Brazil.
In North America, as part of our mission to lead innovation in metabolic health and weight-loss supplements, we introduced MultiBurn.
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REMOVED
The aggregate market value of the voting stock of the registrant held by stockholders who were not affiliates (as defined by regulations of the Securities and Exchange Commission) of the registrant was approximately $ 926 million as of June 28, 2024, based upon the last reported sales price on the New York Stock Exchange on the last business day of the second fiscal quarter of $10.39.
We provide weight management, targeted nutrition and sports nutrition products in 95 markets around the world.
For instance, to accommodate growing customer demand for plant-based products, in 2023 we launched a new vegan product line in North America, Herbalife V, which is certified vegan, organic, and non-GMO.
In 2024, we introduced two chewable gel supplements in Europe that are gluten-free, sugar-free, and use natural colors and flavors.
Our competitors include companies such as BellRing Brands, Inc., Conagra Brands, Inc., The Hain Celestial Group, Inc., Post Holdings, Inc., and The Simply Good Foods Company.
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