Natural Health Trends Corp. (NHTC) 10-Year Financial Performance & Capital Metrics

NHTC • • Industrial / General

Consumer CyclicalSpecialty RetailSpecialty Health & BeautyPersonal Care Retailers

AboutNatural Health Trends Corp., a direct-selling and e-commerce company, provides personal care, wellness, and lifestyle products under the NHT Global brand. The company offers wellness products, including liquid, encapsulated, tableted, and powder dietary and nutritional supplements, as well as vitamins and minerals; and herbal products comprising herbal supplements. It also provides beauty products, such as age-defying and hydrating cleansers, creams, lotions, serums, and toners; and lifestyle products, which include weight management and energy enhancing supplements. In addition, the company offers home appliances; daily products, such as oral care, hair care, and body care; and home appliances products. It sells its products directly to consumers, as well as through an e-commerce retail platform in the United States, Canada, Cayman Islands, Mexico, Peru, Hong Kong, Taiwan, China, Singapore, Malaysia, Thailand, Vietnam, South Korea, Japan, India, Russia, Kazakhstan, and Europe. The company was formerly known as Florida Institute of Massage Therapy, Inc. and changed its name to Natural Health Trends Corp. in June 1993. Natural Health Trends Corp. was incorporated in 1988 and is headquartered in Tsim Sha Tsui, Hong Kong.Show more

Revenue $43M -2.2%
EBITDA -$1M +22.5%
Net Income $572K +0.7%
EPS (Diluted) 0.05 +0.4%
Gross Margin 73.98% -0.8%
EBITDA Margin -2.72% +20.8%
Operating Margin -3.02% +20.5%
Net Margin 1.33% +3.0%
ROE 1.54% +24.1%
ROIC -17.93%
Debt/Equity 0.08 -3.5%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Trading at only 1.3x book value

✗Weaknesses

✗Weak 3Y average ROE of 1.1%
✗Negative free cash flow
✗Weak momentum: RS Rating 18 (bottom 18%)
✗Sales declining 11.2% over 5 years
✗Dividend payout exceeds 100% of earnings
✗Thin 5Y average net margin of 1.3%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-10.1%

5Y-11.16%

3Y-10.54%

TTM-5.07%

Profit (Net Income) CAGR

10Y-30.04%

5Y-

3Y-19.22%

TTM-115.65%

EPS CAGR

10Y-29.36%

5Y-

3Y-19.37%

TTM-115.68%

ROCE

10Y Avg24.89%

5Y Avg-0.75%

3Y Avg-2.17%

Latest-3.11%

Peer Comparison

Personal Care Retailers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NHTCNatural Health Trends Corp.	43.17M	3.75	75.30	-2.19%	-0.29%	-0.45%		0.08
OLPXOlaplex Holdings, Inc.	1.1B	1.65	56.31	-7.77%	-1.18%	-0.56%	12.89%	0.74
ULTAUlta Beauty, Inc.	29.51B	665.12	26.25	0.79%	10.31%	46.14%	3.27%	0.77
SBHSally Beauty Holdings, Inc.	1.56B	15.89	8.41	-0.42%	5.29%	24.66%	11.06%	1.97
BBWIBath & Body Works, Inc.	4.79B	23.40	6.48	-1.64%	9.5%		13.78%
JWELJowell Global Ltd.	4.67M	2.15	-0.59	-16.89%	-6.63%	-114.89%	14.28%	0.13
YSGYatsen Holding Limited	275.1M	4.30	-0.61	0.8%	-11.76%	-15.88%		0.05
HNSTThe Honest Company, Inc.	289.54M	2.59	-42.39	9.87%	1.85%	3.72%	0.35%	0.12

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	264.86M	287.73M	197.56M	191.91M	77.61M	62.07M	60.01M	49.13M	43.92M	42.96M
Revenue Growth %	1.13%	0.09%	-0.31%	-0.03%	-0.6%	-0.2%	-0.03%	-0.18%	-0.11%	-0.02%
Cost of Goods Sold+	54.1M	54.9M	38.65M	39.37M	20.1M	16.99M	15.01M	12.66M	11.18M	11.18M
COGS % of Revenue	0.2%	0.19%	0.2%	0.21%	0.26%	0.27%	0.25%	0.26%	0.25%	0.26%
Gross Profit+	210.76M	232.82M	158.92M	152.54M	57.51M	45.08M	44.99M	36.47M	32.75M	31.79M
Gross Margin %	0.8%	0.81%	0.8%	0.79%	0.74%	0.73%	0.75%	0.74%	0.75%	0.74%
Gross Profit Growth %	1.16%	0.1%	-0.32%	-0.04%	-0.62%	-0.22%	-0%	-0.19%	-0.1%	-0.03%
Operating Expenses+	162.88M	168.69M	115.86M	118.81M	64.53M	44.41M	43.42M	36.74M	34.42M	33.08M
OpEx % of Revenue	0.61%	0.59%	0.59%	0.62%	0.83%	0.72%	0.72%	0.75%	0.78%	0.77%
Selling, General & Admin	162.62M	168.29M	115.86M	118.81M	62.77M	44.41M	43.42M	36.74M	34.42M	33.08M
SG&A % of Revenue	0.61%	0.58%	0.59%	0.62%	0.81%	0.72%	0.72%	0.75%	0.78%	0.77%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-84K	-59K	367K	789K	1.76M	0	0	0	0	0
Operating Income+	47.88M	64.14M	43.06M	33.73M	-7.02M	669K	1.57M	-270K	-1.67M	-1.3M
Operating Margin %	0.18%	0.22%	0.22%	0.18%	-0.09%	0.01%	0.03%	-0.01%	-0.04%	-0.03%
Operating Income Growth %	1.3%	0.34%	-0.33%	-0.22%	-1.21%	1.1%	1.35%	-1.17%	-5.19%	0.22%
EBITDA+	48.14M	64.53M	43.59M	34.16M	-6.64M	1.08M	1.87M	-66K	-1.51M	-1.17M
EBITDA Margin %	0.18%	0.22%	0.22%	0.18%	-0.09%	0.02%	0.03%	-0%	-0.03%	-0.03%
EBITDA Growth %	1.3%	0.34%	-0.32%	-0.22%	-1.19%	1.16%	0.73%	-1.04%	-21.83%	0.22%
D&A (Non-Cash Add-back)	263K	394K	536K	424K	387K	410K	299K	204K	164K	131K
EBIT	47.79M	64.14M	43.43M	34.52M	-5.26M	669K	1.57M	-270K	-1.67M	-1.3M
Net Interest Income+	0	0	0	0	0	0	0	0	0	0
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	-84K	-59K	367K	789K	1.43M	821K	-61K	872K	2.42M	1.92M
Pretax Income+	47.79M	64.08M	43.43M	34.52M	-5.6M	1.49M	1.51M	602K	745K	620K
Pretax Margin %	0.18%	0.22%	0.22%	0.18%	-0.07%	0.02%	0.03%	0.01%	0.02%	0.01%
Income Tax+	552K	8.99M	19.85M	3.49M	14K	647K	425K	289K	177K	48K
Effective Tax Rate %	0.99%	0.86%	0.54%	0.9%	1%	0.57%	0.72%	0.52%	0.76%	0.92%
Net Income+	47.24M	55.09M	23.58M	31.04M	-5.61M	843K	1.08M	313K	568K	572K
Net Margin %	0.18%	0.19%	0.12%	0.16%	-0.07%	0.01%	0.02%	0.01%	0.01%	0.01%
Net Income Growth %	1.32%	0.17%	-0.57%	0.32%	-1.18%	1.15%	0.29%	-0.71%	0.81%	0.01%
Net Income (Continuing)	47.24M	55.09M	23.58M	31.04M	-5.61M	843K	1.08M	313K	568K	572K
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)+	3.82	4.83	2.09	2.74	-0.52	0.07	0.10	0.03	0.05	0.05
EPS Growth %	1.37%	0.26%	-0.57%	0.31%	-1.19%	1.14%	0.29%	-0.71%	0.81%	0%
EPS (Basic)	3.84	4.84	2.10	2.75	-0.52	0.08	0.10	0.03	0.05	0.05
Diluted Shares Outstanding	12.37M	11.41M	11.27M	11.32M	10.87M	11.42M	11.42M	11.42M	11.46M	11.49M
Basic Shares Outstanding	12.3M	11.38M	11.25M	11.3M	10.87M	10.63M	11.02M	11.36M	11.44M	11.47M
Dividend Payout Ratio	0.04%	0.13%	0.73%	1.02%	-	10.84%	8.42%	29.19%	16.22%	16.11%

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+	117.71M	141.24M	151.24M	150.19M	108.38M	99.74M	93.47M	77.55M	64.23M	50.98M
Cash & Short-Term Investments	104.91M	125.92M	135.31M	132.65M	96.03M	92.37M	83.84M	69.67M	56.18M	43.94M
Cash Only	104.91M	125.92M	135.31M	132.65M	96.03M	92.37M	83.84M	69.67M	56.18M	13.53M
Short-Term Investments	0	0	0	0	0	0	0	0	0	30.41M
Accounts Receivable	57K	0	0	0	0	0	0	0	0	0
Days Sales Outstanding	0.08	-	-	-	-	-	-	-	-	-
Inventory	10.46M	11.26M	8.4M	12.16M	6.4M	3.78M	5.26M	4.53M	4.29M	3.27M
Days Inventory Outstanding	70.54	74.84	79.32	112.79	116.27	81.19	127.84	130.45	140.22	106.84
Other Current Assets	2.29M	4.07M	7.53M	5.37M	5.94M	3.6M	4.37M	3.36M	3.76M	3.77M
Total Non-Current Assets+	6.44M	6.81M	8.31M	7.73M	10.12M	6.2M	4.89M	5.27M	4.86M	4.38M
Property, Plant & Equipment	894K	1.39M	1.15M	934K	3.87M	4.28M	3.48M	4.39M	3.58M	2.69M
Fixed Asset Turnover	296.26x	207.30x	171.94x	205.47x	20.06x	14.49x	17.22x	11.20x	12.25x	15.98x
Goodwill	1.76M	1.76M	1.76M	1.76M	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	3.17M	2.96M	3.17M	0	0	0	0	0	0	0
Other Non-Current Assets	3.78M	-3.1M	796K	3.83M	4.21M	1.19M	1.09M	685K	908K	1.31M
Total Assets+	124.15M	148.05M	159.55M	157.92M	118.5M	105.94M	98.36M	82.82M	69.09M	55.36M
Asset Turnover	2.13x	1.94x	1.24x	1.22x	0.65x	0.59x	0.61x	0.59x	0.64x	0.78x
Asset Growth %	1.36%	0.19%	0.08%	-0.01%	-0.25%	-0.11%	-0.07%	-0.16%	-0.17%	-0.2%
Total Current Liabilities+	61.57M	57.15M	41.92M	43.08M	26.3M	21.51M	24.66M	20.44M	19.98M	20.8M
Accounts Payable	2.86M	2.15M	1.75M	1.63M	680K	580K	761K	810K	990K	895K
Days Payables Outstanding	19.31	14.26	16.54	15.12	12.35	12.46	18.51	23.35	32.34	29.22
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	23.56M	25.25M	18.67M	18.11M	15.6M	11.11M	8.33M	6.61M	5.48M	4.74M
Current Ratio	1.91x	2.47x	3.61x	3.49x	4.12x	4.64x	3.79x	3.79x	3.21x	2.45x
Quick Ratio	1.74x	2.27x	3.41x	3.20x	3.88x	4.46x	3.58x	3.57x	3.00x	2.29x
Cash Conversion Cycle	51.31	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	5.77M	8.46M	27.01M	24.98M	17.13M	16.74M	14.21M	12.23M	7.51M	1.69M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	1.56M	2.77M	1.93M	2.99M	2.32M	1.51M
Deferred Tax Liabilities	60K	268K	56K	186K	202K	216K	153K	141K	135K	174K
Other Non-Current Liabilities	5.71M	8.19M	26.96M	24.79M	15.37M	13.75M	12.13M	9.1M	5.05M	0
Total Liabilities	67.34M	65.61M	68.93M	68.06M	43.43M	38.24M	38.87M	32.67M	27.49M	22.49M
Total Debt+	0	0	0	0	3.22M	3.94M	3.17M	4.12M	3.46M	2.64M
Net Debt	-104.91M	-125.92M	-135.31M	-132.65M	-92.82M	-88.43M	-80.68M	-65.54M	-52.71M	-10.89M
Debt / Equity	-	-	-	-	0.04x	0.06x	0.05x	0.08x	0.08x	0.08x
Debt / EBITDA	-	-	-	-	-	3.65x	1.69x	-	-	-
Net Debt / EBITDA	-2.18x	-1.95x	-3.10x	-3.88x	-	-81.95x	-43.14x	-	-	-
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Total Equity+	56.81M	82.44M	90.62M	89.86M	75.06M	67.7M	59.49M	50.15M	41.6M	32.87M
Equity Growth %	1.15%	0.45%	0.1%	-0.01%	-0.16%	-0.1%	-0.12%	-0.16%	-0.17%	-0.21%
Book Value per Share	4.59	7.23	8.04	7.94	6.90	5.93	5.21	4.39	3.63	2.86
Total Shareholders' Equity	56.81M	82.44M	90.62M	89.86M	75.06M	67.7M	59.49M	50.15M	41.6M	32.87M
Common Stock	13K	13K	13K	13K	13K	13K	13K	13K	13K	13K
Retained Earnings	-9.65M	38.55M	44.91M	44.43M	16.12M	7.82M	-231K	-9.06M	-17.7M	-26.34M
Treasury Stock	-19.42M	-41.89M	-40.57M	-39.75M	-25.9M	-25.9M	-25.9M	-25.9M	-24.34M	-24.4M
Accumulated OCI	-101K	-807K	-413K	-1.25M	-1.26M	-336K	-492K	-1M	-1.07M	-1.3M
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+	81.33M	53.17M	26.61M	29.71M	-18.64M	1.89M	1.02M	-4.85M	-4.28M	-3.37M
Operating CF Margin %	0.31%	0.18%	0.13%	0.15%	-0.24%	0.03%	0.02%	-0.1%	-0.1%	-0.08%
Operating CF Growth %	1.66%	-0.35%	-0.5%	0.12%	-1.63%	1.1%	-0.46%	-5.78%	0.12%	0.21%
Net Income	47.24M	55.09M	23.58M	31.04M	-5.61M	843K	1.08M	313K	568K	572K
Depreciation & Amortization	263K	394K	536K	424K	387K	410K	299K	204K	164K	131K
Stock-Based Compensation	86K	104K	35K	0	0	0	773K	575K	161K	145K
Deferred Taxes	-15K	217K	-1.64M	358K	-820K	1.34M	362K	90K	-178K	17K
Other Non-Cash Items	-82K	132K	-258K	4.84M	3.52M	1.53M	390K	597K	1.11M	646K
Working Capital Changes	33.83M	-2.76M	4.36M	-2.11M	-16.12M	-2.24M	-1.89M	-6.63M	-6.1M	-4.88M
Change in Receivables	41K	-4.56M	2.71M	-375K	0	-3.4M	-6.01M	0	0	0
Change in Inventory	-6.76M	-851K	2.84M	-3.88M	5.82M	2.7M	-1.55M	680K	228K	1M
Change in Payables	637K	-714K	-392K	-116K	-953K	-102K	182K	52K	181K	-94K
Cash from Investing+	-3.74M	-905K	-278K	-214K	-189K	-211K	-225K	-143K	-46K	-30.07M
Capital Expenditures	-710K	-905K	-278K	-214K	-189K	-211K	-225K	-143K	-46K	-57K
CapEx % of Revenue	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-3.03M	0	0	0	0	0	0	0	0	0
Cash from Financing+	-17.47M	-30.59M	-17.22M	-31.51M	-17.46M	-9.14M	-9.14M	-9.14M	-9.21M	-9.21M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-1.71M	-6.89M	-17.22M	-31.51M	-7.34M	-9.14M	-9.14M	-9.14M	-9.21M	-9.21M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	309K	0	0	0	0	0	0	0	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	80.62M	52.27M	26.33M	29.5M	-18.83M	1.67M	791K	-5M	-4.32M	-3.42M
FCF Margin %	0.3%	0.18%	0.13%	0.15%	-0.24%	0.03%	0.01%	-0.1%	-0.1%	-0.08%
FCF Growth %	1.66%	-0.35%	-0.5%	0.12%	-1.64%	1.09%	-0.53%	-7.31%	0.13%	0.21%
FCF per Share	6.52	4.58	2.34	2.61	-1.73	0.15	0.07	-0.44	-0.38	-0.30
FCF Conversion (FCF/Net Income)	1.72x	0.97x	1.13x	0.96x	3.32x	2.24x	0.94x	-15.50x	-7.53x	-5.89x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	707K	8.79M	6.77M	3.13M	1.99M	0	1.86M	1.66M	3.53M	3.96M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	113.48%	79.12%	27.25%	34.39%	-6.8%	1.18%	1.71%	0.57%	1.24%	1.54%
Return on Invested Capital (ROIC)	-	-	-	-	-	-	-	-	-	-17.93%
Gross Margin	79.57%	80.92%	80.44%	79.49%	74.1%	72.63%	74.99%	74.23%	74.56%	73.98%
Net Margin	17.84%	19.15%	11.93%	16.17%	-7.23%	1.36%	1.81%	0.64%	1.29%	1.33%
Debt / Equity	-	-	-	-	0.04x	0.06x	0.05x	0.08x	0.08x	0.08x
FCF Conversion	1.72x	0.97x	1.13x	0.96x	3.32x	2.24x	0.94x	-15.50x	-7.53x	-5.89x
Revenue Growth	112.59%	8.63%	-31.34%	-2.86%	-59.56%	-20.03%	-3.33%	-18.12%	-10.6%	-2.19%

Revenue by Segment

	2015	2016	2017	2018	2019
Product	-	-	-	181.87M	73.05M
Product Growth	-	-	-	-	-59.83%
Shipping and Handling	-	-	-	13.33M	6.11M
Shipping and Handling Growth	-	-	-	-	-54.19%

Revenue by Geography

	2015	2016	2017	2018	2019
HONG KONG	245.74M	263.48M	174.93M	169.45M	62.72M
HONG KONG Growth	-	7.22%	-33.61%	-3.13%	-62.98%
TAIWAN, PROVINCE OF CHINA	5.96M	6.21M	5.59M	3.96M	3.13M
TAIWAN, PROVINCE OF CHINA Growth	-	4.16%	-10.01%	-29.10%	-21.14%
CHINA	4.42M	9.09M	7.28M	7.74M	2.94M
CHINA Growth	-	105.33%	-19.85%	6.34%	-62.02%
PERU	-	-	508K	1.64M	2.38M
PERU Growth	-	-	-	221.85%	45.57%
UNITED STATES	3.25M	4.1M	3.35M	3.64M	2M
UNITED STATES Growth	-	26.31%	-18.34%	8.63%	-44.93%
Europe	-	1.23M	2.28M	1.64M	1.37M
Europe Growth	-	-	84.60%	-27.83%	-16.67%
CANADA	2.75M	1.81M	1.94M	1.71M	1.05M
CANADA Growth	-	-34.12%	7.13%	-11.76%	-38.71%
Russia And Kazakhstan	-	-	-	-	980K
Russia And Kazakhstan Growth	-	-	-	-	-
Other Foreign Countries	473K	255K	313K	763K	674K
Other Foreign Countries Growth	-	-46.09%	22.75%	143.77%	-11.66%
KOREA, REPUBLIC OF	1.13M	691K	466K	493K	368K
KOREA, REPUBLIC OF Growth	-	-38.80%	-32.56%	5.79%	-25.35%
Russia and Kazakhstan	-	-	-	868K	-
Russia and Kazakhstan Growth	-	-	-	-	-
Russia and Kazakhstan and Ukraine	1.14M	858K	913K	-	-
Russia and Kazakhstan and Ukraine Growth	-	-24.67%	6.41%	-	-

Frequently Asked Questions

Valuation & Price

Natural Health Trends Corp. (NHTC) has a price-to-earnings (P/E) ratio of 75.3x. This suggests investors expect higher future growth.

Growth & Financials

Natural Health Trends Corp. (NHTC) reported $40.9M in revenue for fiscal year 2024. This represents a 31% increase from $31.2M in 2011.

Natural Health Trends Corp. (NHTC) saw revenue decline by 2.2% over the past year.

Natural Health Trends Corp. (NHTC) reported a net loss of $0.1M for fiscal year 2024.

Dividend & Returns

Yes, Natural Health Trends Corp. (NHTC) pays a dividend with a yield of 21.38%. This makes it attractive for income-focused investors.

Natural Health Trends Corp. (NHTC) has a return on equity (ROE) of 1.5%. This is below average, suggesting room for improvement.

Natural Health Trends Corp. (NHTC) had negative free cash flow of $5.0M in fiscal year 2024, likely due to heavy capital investments.

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