Mannatech, Incorporated (MTEX) 10-Year Financial Performance & Capital Metrics

MTEX • • Industrial / General

Consumer DefensiveHousehold ProductsHealth & Wellness ProductsNutritional Supplements

AboutMannatech, Incorporated operates as a health and wellness company worldwide. It develops, markets, and sells nutritional supplements; topical and skin care, and anti-aging products; and weight-management products. The company primarily sells its products directly, as well as through e-commerce and network marketing channels. Mannatech, Incorporated was founded in 1993 and is headquartered in Flower Mound, Texas.Show more

Revenue $118M -10.7%
EBITDA $3M +346.2%
Net Income $2M +211.2%
EPS (Diluted) 1.32 +210.0%
Gross Margin 77.6% -0.5%
EBITDA Margin 2.51% +399.6%
Operating Margin 1.21% +265.9%
Net Margin 2.11% +224.5%
ROE 26.08% +243.6%
ROIC 17.33% +280.6%
Debt/Equity 0.78 +42.7%
Interest Coverage 5.12

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient asset utilization: 3.3x turnover

✗Weaknesses

✗Weak momentum: RS Rating 17 (bottom 17%)
✗Sales declining 5.7% over 5 years
✗Thin 5Y average net margin of 1.5%
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-4.67%

5Y-5.66%

3Y-9.64%

TTM-9.17%

Profit (Net Income) CAGR

10Y-9.14%

5Y-5.41%

3Y-36.75%

TTM-8.38%

EPS CAGR

10Y-5.8%

5Y-0.45%

3Y-34.56%

TTM-6.17%

ROCE

10Y Avg10.39%

5Y Avg8.85%

3Y Avg0.71%

Latest9.34%

Peer Comparison

Nutritional Supplements

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SGISomnigroup International Inc	19.52B	92.99	43.05	0.11%	4.62%	10.53%	2.92%	7.86
KVUEKenvue Inc.	33.07B	17.26	31.96	0.07%	9.55%	13.48%	4.04%	0.90
MTEXMannatech, Incorporated	17.36M	9.13	6.92	-10.68%	-1.5%	-23.83%	11.32%	0.78
NUSNu Skin Enterprises, Inc.	552.83M	11.34	-3.84	-12.04%	7.02%	13.7%	12.69%	0.73

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	180.27M	180.3M	176.7M	173.56M	157.73M	151.41M	159.76M	137.21M	131.96M	117.87M
Revenue Growth %	-0.05%	0%	-0.02%	-0.02%	-0.09%	-0.04%	0.06%	-0.14%	-0.04%	-0.11%
Cost of Goods Sold+	34.1M	36.56M	35.67M	34.48M	31.55M	37.49M	34.15M	34.69M	29.09M	26.41M
COGS % of Revenue	0.19%	0.2%	0.2%	0.2%	0.2%	0.25%	0.21%	0.25%	0.22%	0.22%
Gross Profit+	146.16M	143.74M	141.03M	139.08M	126.18M	113.91M	125.61M	102.52M	102.86M	91.46M
Gross Margin %	0.81%	0.8%	0.8%	0.8%	0.8%	0.75%	0.79%	0.75%	0.78%	0.78%
Gross Profit Growth %	-0.04%	-0.02%	-0.02%	-0.01%	-0.09%	-0.1%	0.1%	-0.18%	0%	-0.11%
Operating Expenses+	134.02M	143.04M	138.51M	139.17M	119.75M	109.42M	116.56M	102.93M	103.83M	90.03M
OpEx % of Revenue	0.74%	0.79%	0.78%	0.8%	0.76%	0.72%	0.73%	0.75%	0.79%	0.76%
Selling, General & Admin	107.41M	111.39M	110.02M	107.67M	30.82M	108.62M	93.21M	101.93M	50.24M	41.72M
SG&A % of Revenue	0.6%	0.62%	0.62%	0.62%	0.2%	0.72%	0.58%	0.74%	0.38%	0.35%
Research & Development	1.7M	1.4M	1.2M	1M	0	800K	1.2M	1M	0	700K
R&D % of Revenue	0.01%	0.01%	0.01%	0.01%	-	0.01%	0.01%	0.01%	-	0.01%
Other Operating Expenses	-46.35M	-42.57M	-333K	291K	88.92M	0	22.15M	0	53.59M	47.61M
Operating Income+	12.14M	698K	2.52M	-90K	6.43M	4.49M	9.05M	-405K	-964K	1.43M
Operating Margin %	0.07%	0%	0.01%	-0%	0.04%	0.03%	0.06%	-0%	-0.01%	0.01%
Operating Income Growth %	-0.05%	-0.94%	2.61%	-1.04%	72.48%	-0.3%	1.01%	-1.04%	-1.38%	2.48%
EBITDA+	13.94M	2.6M	4.38M	1.97M	8.52M	8.42M	10.77M	3.09M	664K	2.96M
EBITDA Margin %	0.08%	0.01%	0.02%	0.01%	0.05%	0.06%	0.07%	0.02%	0.01%	0.03%
EBITDA Growth %	-0.03%	-0.81%	0.69%	-0.55%	3.32%	-0.01%	0.28%	-0.71%	-0.79%	3.46%
D&A (Non-Cash Add-back)	1.79M	1.9M	1.86M	2.06M	2.09M	3.93M	1.72M	3.5M	1.63M	1.53M
EBIT	12.14M	661K	2.52M	-90K	6.43M	5.72M	8.89M	-479K	-1.13M	4.02M
Net Interest Income+	210K	174K	274K	288K	-16K	83K	66K	88K	4K	-279K
Interest Income	210K	174K	274K	288K	0	83K	66K	88K	4K	0
Interest Expense	0	0	0	0	16K	0	0	0	0	279K
Other Income/Expense	-3.94M	-1.65M	-59K	579K	-697K	1.23M	-157K	-74K	-166K	2.31M
Pretax Income+	8.2M	-955K	2.46M	489K	5.74M	5.72M	8.89M	-479K	-1.13M	3.74M
Pretax Margin %	0.05%	-0.01%	0.01%	0%	0.04%	0.04%	0.06%	-0%	-0.01%	0.03%
Income Tax+	2.36M	-369K	4.25M	4.38M	2.45M	-536K	-950K	4.01M	1.11M	1.25M
Effective Tax Rate %	0.71%	0.61%	-0.73%	-7.95%	0.57%	1.09%	1.11%	9.37%	1.98%	0.67%
Net Income+	5.84M	-586K	-1.79M	-3.89M	3.29M	6.26M	9.84M	-4.49M	-2.24M	2.49M
Net Margin %	0.03%	-0%	-0.01%	-0.02%	0.02%	0.04%	0.06%	-0.03%	-0.02%	0.02%
Net Income Growth %	-0.1%	-1.1%	-2.05%	-1.17%	1.85%	0.9%	0.57%	-1.46%	0.5%	2.11%
Net Income (Continuing)	5.84M	-586K	-1.79M	-3.89M	3.29M	6.26M	9.84M	-4.49M	-2.24M	2.49M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	2.14	-0.22	-0.66	-1.53	1.35	2.77	4.71	-2.35	-1.20	1.32
EPS Growth %	-0.11%	-1.1%	-2%	-1.32%	1.88%	1.05%	0.7%	-1.5%	0.49%	2.1%
EPS (Basic)	2.18	-0.22	-0.66	-1.53	1.38	2.80	4.95	-2.35	-1.20	1.32
Diluted Shares Outstanding	2.73M	2.69M	2.71M	2.54M	2.44M	2.26M	2.09M	1.91M	1.87M	1.89M
Basic Shares Outstanding	2.68M	2.66M	2.71M	2.54M	2.39M	2.23M	1.99M	1.91M	1.87M	1.89M
Dividend Payout Ratio	-	-	-	-	0.36%	0.54%	0.44%	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	49.88M	50.76M	56.25M	42.39M	41.03M	42.48M	42.84M	34.95M	27.66M	26.12M
Cash & Short-Term Investments	31.99M	28.69M	37.68M	21.84M	24.76M	22.21M	24.18M	13.78M	7.73M	11.4M
Cash Only	31.99M	28.69M	37.68M	21.84M	24.76M	22.21M	24.18M	13.78M	7.73M	11.4M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	373K	1.89M	1.18M	397K	1.18M	1.19M	432K	641K	556K	756K
Days Sales Outstanding	0.76	3.82	2.44	0.83	2.72	2.88	0.99	1.71	1.54	2.34
Inventory	9.2M	11.96M	9.38M	12.82M	10.15M	12.83M	12.02M	14.73M	14.54M	10.4M
Days Inventory Outstanding	98.46	119.4	96.04	135.74	117.45	124.87	128.48	154.96	182.37	143.82
Other Current Assets	5.41M	4.74M	5.39M	3.96M	2.7M	3.29M	3.31M	5.81M	4.84M	3.56M
Total Non-Current Assets+	18.76M	20.43M	19.99M	19.81M	21.89M	22.78M	16.79M	14.18M	13.49M	9.94M
Property, Plant & Equipment	4.69M	4.62M	4.31M	6.76M	6.13M	14.46M	4.24M	3.76M	8.76M	6.05M
Fixed Asset Turnover	38.46x	39.00x	40.96x	25.66x	25.75x	10.47x	37.69x	36.50x	15.06x	19.48x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	200K	200K	200K	200K	200K	0	200K	200K	200K	200K
Long-Term Investments	-200K	-200K	-200K	-200K	5.29M	2.6M	503K	476K	2.2M	1.3M
Other Non-Current Assets	10.35M	10.44M	11.44M	11.12M	9.39M	4.55M	9.02M	8.24M	718K	613K
Total Assets+	68.64M	71.19M	76.24M	62.2M	62.92M	65.33M	59.63M	49.13M	41.21M	36.06M
Asset Turnover	2.63x	2.53x	2.32x	2.79x	2.51x	2.32x	2.68x	2.79x	3.20x	3.27x
Asset Growth %	0.02%	0.04%	0.07%	-0.18%	0.01%	0.04%	-0.09%	-0.18%	-0.16%	-0.12%
Total Current Liabilities+	26.38M	29.98M	33.45M	33.61M	28.89M	31.99M	30.1M	29.84M	25.78M	20.9M
Accounts Payable	2.68M	5.22M	6.01M	6.72M	3.53M	4.8M	3.97M	4.36M	4.01M	2.07M
Days Payables Outstanding	28.72	52.14	61.48	71.19	40.79	46.7	42.42	45.89	50.31	28.61
Short-Term Debt	713K	801K	815K	702K	739K	553K	205K	263K	240K	84K
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	9.1M	11.43M	13.48M	15.93M	14M	1.88M	14.78M	13.43M	1.71M	10.12M
Current Ratio	1.89x	1.69x	1.68x	1.26x	1.42x	1.33x	1.42x	1.17x	1.07x	1.25x
Quick Ratio	1.54x	1.29x	1.40x	0.88x	1.07x	0.93x	1.02x	0.68x	0.51x	0.75x
Cash Conversion Cycle	70.5	71.08	37	65.38	79.37	81.05	87.04	110.77	133.6	117.55
Total Non-Current Liabilities+	3.7M	2.32M	2.56M	3.26M	6.76M	7.37M	5.12M	5.11M	4.94M	6.55M
Long-Term Debt	1.07M	567K	0	883K	363K	0	0	0	0	2.9M
Capital Lease Obligations	612K	261K	144K	72K	176K	129K	66K	4.29M	3.54M	2.26M
Deferred Tax Liabilities	24K	29K	1.15M	3K	3K	3K	3K	0	0	0
Other Non-Current Liabilities	1.99M	1.47M	1.26M	2.3M	6.21M	7.24M	5.05M	826K	1.4M	1.39M
Total Liabilities	30.08M	32.3M	36M	36.87M	35.65M	39.36M	35.21M	34.95M	30.72M	27.44M
Total Debt+	2.84M	1.99M	1.19M	1.73M	2.99M	2.83M	1.83M	6.21M	5.71M	6.69M
Net Debt	-29.15M	-26.7M	-36.49M	-20.11M	-21.77M	-19.38M	-22.35M	-7.57M	-2.02M	-4.7M
Debt / Equity	0.07x	0.05x	0.03x	0.07x	0.11x	0.11x	0.08x	0.44x	0.54x	0.78x
Debt / EBITDA	0.20x	0.77x	0.27x	0.88x	0.35x	0.34x	0.17x	2.01x	8.59x	2.26x
Net Debt / EBITDA	-2.09x	-10.29x	-8.33x	-10.19x	-2.56x	-2.30x	-2.08x	-2.45x	-3.05x	-1.59x
Interest Coverage	-	-	-	-	402.06x	-	-	-	-	5.12x
Total Equity+	38.56M	38.88M	40.24M	25.32M	27.27M	25.97M	24.41M	14.18M	10.48M	8.61M
Equity Growth %	0.23%	0.01%	0.03%	-0.37%	0.08%	-0.05%	-0.06%	-0.42%	-0.26%	-0.18%
Book Value per Share	14.14	14.47	14.86	9.97	11.17	11.47	11.69	7.41	5.62	4.57
Total Shareholders' Equity	38.56M	38.88M	40.24M	25.32M	27.27M	25.97M	24.41M	14.18M	10.48M	8.61M
Common Stock	0	0	0	0	0	0	0	0	0	0
Retained Earnings	8.59M	7.33M	4.19M	-2.78M	-690K	2.21M	7.71M	1.69M	-1.3M	1.19M
Treasury Stock	-11.21M	-8.47M	-4.86M	-10.17M	-9.94M	-15.19M	-18.91M	-20.68M	-20.51M	-19.94M
Accumulated OCI	686K	1.83M	5.98M	4.34M	3.76M	5.15M	2.34M	-208K	-1.01M	-5.67M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	4.39M	-23K	10M	-222K	4.92M	6.03M	10.77M	-2.6M	-2.37M	2.26M
Operating CF Margin %	0.02%	-0%	0.06%	-0%	0.03%	0.04%	0.07%	-0.02%	-0.02%	0.02%
Operating CF Growth %	-0.53%	-1.01%	435.7%	-1.02%	23.15%	0.23%	0.79%	-1.24%	0.09%	1.95%
Net Income	5.84M	-586K	-1.79M	-3.89M	3.29M	6.26M	9.84M	-4.49M	-2.24M	2.49M
Depreciation & Amortization	1.79M	1.9M	1.86M	2.06M	2.09M	1.99M	1.72M	1.63M	1.63M	1.53M
Stock-Based Compensation	592K	690K	490K	1.15M	734K	334K	260K	337K	278K	291K
Deferred Taxes	154K	-1.27M	2.14M	1.17M	1.06M	-280K	-1.73M	1.23M	121K	-159K
Other Non-Cash Items	877K	1.33M	1.07M	1.26M	2.92M	2.65M	3.12M	2.37M	2.89M	-1.48M
Working Capital Changes	-4.87M	-2.09M	6.22M	-1.97M	-5.17M	-4.93M	-2.44M	-3.66M	-5.05M	-418K
Change in Receivables	-266K	-495K	-308K	-376K	-931K	-227K	516K	-183K	-433K	67K
Change in Inventory	605K	-3.15M	2.38M	-4.14M	2.05M	-2.66M	169K	-3.25M	-272K	2.47M
Change in Payables	-1.56M	2.55M	710K	716K	-3.2M	1.27M	-828K	392K	-351K	-1.86M
Cash from Investing+	-1.98M	-2.29M	-1.34M	-2.28M	-1.22M	-947K	-650K	-1.06M	-747K	-285K
Capital Expenditures	-1.98M	-2.29M	-1.34M	-2.34M	-1.22M	-949K	-650K	-1.06M	-748K	-297K
CapEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0%	0.01%	0.01%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1.98M	1K	1K	62K	0	2K	0	0	1K	12K
Cash from Financing+	142K	-2.46M	-3.06M	-12.05M	-2.71M	-9.92M	-9.29M	-4.33M	-1.9M	1.96M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	-672K	-1.35M	-3.09M	-1.2M	-3.36M	-4.35M	-1.53M	-748K	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	28K	39K	83K	114K	0	0	545K	0	12K	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	2.41M	-2.31M	8.66M	-2.56M	3.7M	5.08M	10.12M	-3.66M	-3.12M	1.96M
FCF Margin %	0.01%	-0.01%	0.05%	-0.01%	0.02%	0.03%	0.06%	-0.03%	-0.02%	0.02%
FCF Growth %	-0.69%	-1.96%	4.75%	-1.3%	2.44%	0.37%	0.99%	-1.36%	0.15%	1.63%
FCF per Share	0.88	-0.86	3.20	-1.01	1.51	2.24	4.85	-1.91	-1.67	1.04
FCF Conversion (FCF/Net Income)	0.75x	0.04x	-5.59x	0.06x	1.49x	0.96x	1.09x	0.58x	1.06x	0.91x
Interest Paid	89K	113K	68K	64K	126K	71K	31K	32K	100K	475K
Taxes Paid	4.66M	1.78M	1.69M	800K	996K	989K	137K	715K	2.55M	829K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	16.7%	-1.51%	-4.52%	-11.85%	12.51%	23.52%	39.07%	-23.27%	-18.16%	26.08%
Return on Invested Capital (ROIC)	125.27%	4.85%	23.72%	-1.51%	90.09%	55.72%	156.94%	-7.01%	-9.59%	17.33%
Gross Margin	81.08%	79.72%	79.81%	80.14%	80%	75.24%	78.63%	74.72%	77.95%	77.6%
Net Margin	3.24%	-0.33%	-1.01%	-2.24%	2.09%	4.14%	6.16%	-3.27%	-1.7%	2.11%
Debt / Equity	0.07x	0.05x	0.03x	0.07x	0.11x	0.11x	0.08x	0.44x	0.54x	0.78x
Interest Coverage	-	-	-	-	402.06x	-	-	-	-	5.12x
FCF Conversion	0.75x	0.04x	-5.59x	0.06x	1.49x	0.96x	1.09x	0.58x	1.06x	0.91x
Revenue Growth	-5.16%	0.02%	-2%	-1.78%	-9.12%	-4.01%	5.52%	-14.12%	-3.83%	-10.68%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024
Consolidated product sales	148.6M	157.9M	170.2M	154.6M	146.2M	151M	130.2M	125.3M	112.3M
Consolidated product sales Growth	-	6.26%	7.79%	-9.17%	-5.43%	3.28%	-13.77%	-3.76%	-10.38%
Consolidated pack sales	26.7M	14.2M	2.5M	2.3M	4.2M	8M	6.2M	5.6M	4.1M
Consolidated pack sales Growth	-	-46.82%	-82.39%	-8.00%	82.61%	90.48%	-22.50%	-9.68%	-26.79%
Consolidated other, including freight	5M	4.6M	900K	800K	1M	800K	800K	1.1M	1.5M
Consolidated other, including freight Growth	-	-8.00%	-80.43%	-11.11%	25.00%	-20.00%	0.00%	37.50%	36.36%

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024
Asia Pacific	96.2M	98.8M	101.7M	96M	92.1M	97.7M	83.8M	79.4M	69M
Asia Pacific Growth	-	2.70%	2.94%	-5.60%	-4.06%	6.08%	-14.23%	-5.25%	-13.10%
North America	70.2M	64.2M	58.7M	48M	44.9M	46.8M	41.6M	42.8M	39.7M
North America Growth	-	-8.55%	-8.57%	-18.23%	-6.46%	4.23%	-11.11%	2.88%	-7.24%
EMEA	13.9M	13.7M	13.2M	13.7M	14.4M	15.3M	11.8M	9.8M	9.2M
EMEA Growth	-	-1.44%	-3.65%	3.79%	5.11%	6.25%	-22.88%	-16.95%	-6.12%

Frequently Asked Questions

Valuation & Price

Mannatech, Incorporated (MTEX) has a price-to-earnings (P/E) ratio of 6.9x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Mannatech, Incorporated (MTEX) reported $110.4M in revenue for fiscal year 2024. This represents a 45% decrease from $200.7M in 2011.

Mannatech, Incorporated (MTEX) saw revenue decline by 10.7% over the past year.

Mannatech, Incorporated (MTEX) reported a net loss of $1.7M for fiscal year 2024.

Dividend & Returns

Mannatech, Incorporated (MTEX) has a return on equity (ROE) of 26.1%. This is excellent, indicating efficient use of shareholder capital.

Mannatech, Incorporated (MTEX) had negative free cash flow of $4.0M in fiscal year 2024, likely due to heavy capital investments.

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