USANA Health Sciences, Inc. (USNA) 10-Year Financial Performance & Capital Metrics

USNA • • Industrial / General

Consumer DefensivePackaged FoodsNutritional Supplements & WellnessDietary Supplements & Vitamins

AboutUSANA Health Sciences, Inc. develops, manufactures, and sells science-based nutritional and personal care products. The company offers USANA nutritional products that comprise essentials/CellSentials, such as vitamin and mineral supplements that provide a foundation of total body nutrition for various age groups; optimizers comprising targeted supplements that are designed to meet cardiovascular, skeletal/structural, and digestive health needs; and foods that include meal replacement shakes, snack bars, and other related products. It also provides Celavive, a skin care regimen for various skin care types and ethnicities; and other products for prenatal, infant, and young child age groups. In addition, the company offers materials and online tools to assist associates in building their businesses, as well as in marketing products. It offers its products directly in the Asia Pacific, the Americas, and Europe, as well as online. The company has a research collaboration agreement with Beijing University of Chinese Medicine for research in the field of traditional Chinese medicine; and National Sports Training Bureau. USANA Health Sciences, Inc. was founded in 1992 and is headquartered in Salt Lake City, Utah.Show more

Revenue $855M -7.2%
EBITDA $89M -22.0%
Net Income $42M -34.1%
EPS (Diluted) 2.19 -33.6%
Gross Margin 81.13% +0.4%
EBITDA Margin 10.36% -15.9%
Operating Margin 7.76% -23.2%
Net Margin 4.92% -29.0%
ROE 7.76% -43.3%
ROIC 15.95% -61.2%
Debt/Equity 0.07 +151.8%
Interest Coverage 236.03 -33.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.7x book value
✓Efficient asset utilization: 1.1x turnover

✗Weaknesses

✗Profits declining 16.0% over 5 years
✗Weak momentum: RS Rating 18 (bottom 18%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.78%

5Y-4.23%

3Y-10.36%

TTM5.88%

Profit (Net Income) CAGR

10Y-5.83%

5Y-16%

3Y-28.81%

TTM-68.68%

EPS CAGR

10Y-2.43%

5Y-13.06%

3Y-27.43%

TTM-68.9%

ROCE

10Y Avg35.55%

5Y Avg27.09%

3Y Avg18.61%

Latest11.82%

Peer Comparison

Dietary Supplements & Vitamins

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SMPLThe Simply Good Foods Company	1.94B	20.99	20.58	8.98%	6.26%	5.23%	8.13%	0.17
FTLFFitLife Brands, Inc.	143.21M	15.25	16.80	22.33%	9.57%	16.13%	6.7%	0.37
USNAUSANA Health Sciences, Inc.	374.39M	20.48	9.35	-7.22%	1.86%	2.93%	13.6%	0.07
LFVNLifeVantage Corporation	77.48M	6.10	8.03	14.17%	4.78%	34.53%	13.56%	0.34
HLFHerbalife Nutrition Ltd.	1.64B	15.89	6.36	-1.37%	6.47%		9.95%
ATPCAgape ATP Corporation	3.5M	0.07	-0.11	-7.57%	-183%	-11.92%		0.19
HCWCHealthy Choice Wellness Corp.	5.47M	0.30	-0.63	24.57%	-5.44%	-73.95%		10.72

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	918.5M	1.01B	1.05B	1.19B	1.06B	1.13B	1.19B	998.6M	921.01M	854.5M
Revenue Growth %	0.16%	0.1%	0.04%	0.14%	-0.11%	0.07%	0.05%	-0.16%	-0.08%	-0.07%
Cost of Goods Sold+	159.68M	180.19M	179.4M	200.71M	187.5M	209.11M	217.9M	193.89M	176.69M	161.21M
COGS % of Revenue	0.17%	0.18%	0.17%	0.17%	0.18%	0.18%	0.18%	0.19%	0.19%	0.19%
Gross Profit+	758.82M	825.89M	867.86M	988.54M	873.4M	925.53M	968.57M	804.71M	744.32M	693.29M
Gross Margin %	0.83%	0.82%	0.83%	0.83%	0.82%	0.82%	0.82%	0.81%	0.81%	0.81%
Gross Profit Growth %	0.17%	0.09%	0.05%	0.14%	-0.12%	0.06%	0.05%	-0.17%	-0.08%	-0.07%
Operating Expenses+	617.15M	687.27M	735.36M	800.18M	727.21M	749.04M	798.37M	697.1M	651.25M	626.97M
OpEx % of Revenue	0.67%	0.68%	0.7%	0.67%	0.69%	0.66%	0.67%	0.7%	0.71%	0.73%
Selling, General & Admin	617.15M	687.27M	735.36M	800.18M	727.21M	749.04M	798.37M	697.1M	651.25M	626.97M
SG&A % of Revenue	0.67%	0.68%	0.7%	0.67%	0.69%	0.66%	0.67%	0.7%	0.71%	0.73%
Research & Development	6.42M	8.84M	8.95M	10.24M	10.26M	10.63M	11.11M	11.56M	11.45M	0
R&D % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	-
Other Operating Expenses	927K	-70K	2.14M	3.16M	-10.26M	-10.63M	-11.11M	-11.56M	-11.45M	0
Operating Income+	141.66M	138.62M	132.5M	188.35M	146.19M	176.49M	170.19M	107.61M	93.07M	66.32M
Operating Margin %	0.15%	0.14%	0.13%	0.16%	0.14%	0.16%	0.14%	0.11%	0.1%	0.08%
Operating Income Growth %	0.22%	-0.02%	-0.04%	0.42%	-0.22%	0.21%	-0.04%	-0.37%	-0.14%	-0.29%
EBITDA+	151.64M	152.1M	148.46M	205.08M	168.98M	199M	192.38M	129.02M	113.47M	88.55M
EBITDA Margin %	0.17%	0.15%	0.14%	0.17%	0.16%	0.18%	0.16%	0.13%	0.12%	0.1%
EBITDA Growth %	0.21%	0%	-0.02%	0.38%	-0.18%	0.18%	-0.03%	-0.33%	-0.12%	-0.22%
D&A (Non-Cash Add-back)	9.98M	13.48M	15.96M	16.73M	22.79M	22.51M	22.19M	21.41M	20.39M	22.23M
EBIT	141.66M	138.62M	134.69M	191.55M	146.19M	178.46M	170.7M	108.81M	102.72M	76.63M
Net Interest Income+	1.1M	1.04M	2.14M	4.39M	4.64M	2.03M	2.46M	3.6M	9.38M	11.04M
Interest Income	1.12M	1.48M	2.19M	4.43M	4.71M	2.54M	2.52M	3.79M	9.64M	11.32M
Interest Expense	15K	444K	46K	36K	66K	507K	57K	192K	262K	281K
Other Income/Expense	927K	-70K	2.14M	3.16M	4.31M	1.46M	450K	1.01M	9.38M	10.03M
Pretax Income+	142.59M	138.55M	134.64M	191.51M	150.5M	177.95M	170.64M	108.62M	102.45M	76.35M
Pretax Margin %	0.16%	0.14%	0.13%	0.16%	0.14%	0.16%	0.14%	0.11%	0.11%	0.09%
Income Tax+	47.92M	38.51M	72.11M	65.29M	49.97M	53.28M	54.14M	39.27M	38.66M	34.29M
Effective Tax Rate %	0.66%	0.72%	0.46%	0.66%	0.67%	0.7%	0.68%	0.64%	0.62%	0.55%
Net Income+	94.67M	100.04M	62.53M	126.22M	100.53M	124.66M	116.5M	69.35M	63.79M	42.03M
Net Margin %	0.1%	0.1%	0.06%	0.11%	0.09%	0.11%	0.1%	0.07%	0.07%	0.05%
Net Income Growth %	0.24%	0.06%	-0.37%	1.02%	-0.2%	0.24%	-0.07%	-0.4%	-0.08%	-0.34%
Net Income (Continuing)	94.67M	100.04M	62.53M	126.22M	100.53M	124.66M	116.5M	69.35M	63.79M	42.06M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	54.22M
EPS (Diluted)+	3.59	3.99	2.53	5.12	4.41	5.86	5.73	3.59	3.30	2.19
EPS Growth %	0.28%	0.11%	-0.37%	1.02%	-0.14%	0.33%	-0.02%	-0.37%	-0.08%	-0.34%
EPS (Basic)	3.71	4.09	2.60	5.36	4.44	5.89	5.78	3.60	3.33	2.20
Diluted Shares Outstanding	26.35M	25.05M	24.71M	24.64M	22.82M	21.26M	20.34M	19.31M	19.34M	19.16M
Basic Shares Outstanding	24.98M	24.48M	24.02M	23.57M	22.64M	21.04M	20.15M	19.25M	19.25M	19.06M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

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+	244.26M	277.86M	340.16M	392.33M	327.61M	423.21M	362.85M	381.23M	417.75M	279.19M
Cash & Short-Term Investments	143.21M	175.77M	247.13M	277.87M	234.83M	312.88M	239.83M	288.42M	330.42M	181.77M
Cash Only	143.21M	175.77M	247.13M	214.33M	234.83M	312.88M	239.83M	288.42M	330.42M	181.77M
Short-Term Investments	0	0	0	63.54M	0	0	0	0	0	0
Accounts Receivable	11.78M	17.04M	13.46M	14.03M	8.76M	7.42M	7.16M	7.21M	7.2M	8.22M
Days Sales Outstanding	4.68	6.18	4.69	4.31	3.01	2.39	2.2	2.64	2.85	3.51
Inventory	66.12M	64.81M	62.92M	81.95M	68.91M	90.22M	98.32M	67.09M	61.45M	69.73M
Days Inventory Outstanding	151.13	131.28	128.01	149.03	134.13	157.48	164.69	126.3	126.95	157.89
Other Current Assets	17.56M	11M	8.34M	9.2M	4.95M	4.01M	3.68M	7.12M	7.28M	5.7M
Total Non-Current Assets+	178.97M	192.78M	179.11M	162.13M	189.33M	217.68M	214.89M	215.32M	215.01M	469.01M
Property, Plant & Equipment	87.98M	101.27M	102.85M	92.03M	126.5M	128.39M	125.57M	117.77M	99.81M	94.56M
Fixed Asset Turnover	10.44x	9.93x	10.18x	12.92x	8.39x	8.84x	9.45x	8.48x	9.23x	9.04x
Goodwill	17.43M	16.71M	17.42M	16.82M	16.64M	17.37M	17.67M	17.37M	17.1M	144.17M
Intangible Assets	38.27M	34.35M	35.15M	31.81M	29.84M	30.8M	30.44M	32.43M	29.92M	151.82M
Long-Term Investments	11.42M	9.75M	9.81M	2.91M	2.86M	3.06M	23.82M	2.9M	2.83M	2.74M
Other Non-Current Assets	14.03M	12.41M	11.02M	15.22M	10.41M	33.42M	12.55M	35.05M	52.07M	56.07M
Total Assets+	423.24M	470.64M	519.27M	554.46M	516.93M	640.89M	577.74M	596.55M	632.76M	748.19M
Asset Turnover	2.17x	2.14x	2.02x	2.14x	2.05x	1.77x	2.05x	1.67x	1.46x	1.14x
Asset Growth %	0.21%	0.11%	0.1%	0.07%	-0.07%	0.24%	-0.1%	0.03%	0.06%	0.18%
Total Current Liabilities+	131.41M	138.49M	141.18M	148.69M	136.1M	168.07M	160.79M	143.83M	118.84M	139.63M
Accounts Payable	10.04M	9.04M	11.79M	9.95M	12.53M	18.2M	13.51M	11.05M	10.07M	11.98M
Days Payables Outstanding	22.96	18.31	23.98	18.09	24.38	31.76	22.63	20.8	20.8	27.13
Short-Term Debt	0	0	0	0	8.32M	8.62M	7.08M	6.89M	786K	23M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	27.68M	23.67M	28.71M	35.69M	68.96M	85.36M	83.01M	82.71M	73.75M	-4.75M
Current Ratio	1.86x	2.01x	2.41x	2.64x	2.41x	2.52x	2.26x	2.65x	3.52x	2.00x
Quick Ratio	1.36x	1.54x	1.96x	2.09x	1.90x	1.98x	1.65x	2.18x	3.00x	1.50x
Cash Conversion Cycle	132.86	119.15	108.72	135.24	112.77	128.11	144.27	108.13	109	134.27
Total Non-Current Liabilities+	10.97M	6.86M	14.88M	14.63M	29.12M	31.16M	21.83M	18.24M	16.71M	22.24M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	17.27M	12.86M	10.21M	6.89M	5.14M	10.19M
Deferred Tax Liabilities	9.82M	5.5M	13.73M	13.37M	10.28M	12.01M	7.5M	4.07M	4.55M	4.07M
Other Non-Current Liabilities	1.15M	1.36M	1.15M	1.26M	1.57M	6.3M	4.11M	7.28M	7.02M	7.97M
Total Liabilities	142.38M	145.35M	156.06M	163.32M	165.22M	199.24M	182.62M	162.08M	135.56M	161.86M
Total Debt+	0	0	0	0	25.6M	21.47M	17.3M	13.78M	13.21M	39.2M
Net Debt	-143.21M	-175.77M	-247.13M	-214.33M	-209.23M	-291.4M	-222.54M	-274.64M	-317.21M	-142.56M
Debt / Equity	-	-	-	-	0.07x	0.05x	0.04x	0.03x	0.03x	0.07x
Debt / EBITDA	-	-	-	-	0.15x	0.11x	0.09x	0.11x	0.12x	0.44x
Net Debt / EBITDA	-0.94x	-1.16x	-1.66x	-1.05x	-1.24x	-1.46x	-1.16x	-2.13x	-2.80x	-1.61x
Interest Coverage	9444.13x	312.21x	2880.52x	5232.03x	2215.00x	348.11x	2985.82x	560.49x	355.23x	236.03x
Total Equity+	280.85M	325.29M	363.21M	391.15M	351.71M	441.65M	395.12M	434.47M	497.2M	586.33M
Equity Growth %	0.22%	0.16%	0.12%	0.08%	-0.1%	0.26%	-0.11%	0.1%	0.14%	0.18%
Book Value per Share	10.66	12.99	14.70	15.87	15.41	20.78	19.42	22.50	25.70	30.60
Total Shareholders' Equity	280.85M	325.29M	363.21M	391.15M	351.71M	441.65M	395.12M	434.47M	497.2M	532.11M
Common Stock	13K	24K	24K	24K	22K	21K	19K	19K	19K	19K
Retained Earnings	214.88M	265.4M	288.07M	329.5M	306.15M	382.79M	344.64M	391.64M	445.22M	478.94M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-3.78M	-11.65M	-1.43M	-10.39M	-13.9M	-3.63M	458K	-12.79M	-13.7M	-22.67M
Minority Interest	0	0	0	0	0	0	0	0	0	54.22M

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+	111.47M	137.03M	123.78M	152.12M	126.73M	160.4M	121.23M	103.9M	70.64M	60.99M
Operating CF Margin %	0.12%	0.14%	0.12%	0.13%	0.12%	0.14%	0.1%	0.1%	0.08%	0.07%
Operating CF Growth %	0.06%	0.23%	-0.1%	0.23%	-0.17%	0.27%	-0.24%	-0.14%	-0.32%	-0.14%
Net Income	94.67M	100.04M	62.53M	126.22M	100.53M	124.66M	116.5M	69.35M	63.79M	42.06M
Depreciation & Amortization	9.98M	13.48M	16.11M	16.84M	23.01M	22.51M	22.19M	21.41M	20.39M	22.23M
Stock-Based Compensation	11.08M	16.54M	15.48M	14.96M	15.54M	14.39M	14.3M	13.48M	14.6M	14.56M
Deferred Taxes	-2.57M	-3.7M	19.31M	699K	-3.63M	-2.42M	-2.97M	-7.18M	-2.75M	-6.74M
Other Non-Cash Items	-12.02M	116K	2.75M	1.15M	84K	701K	61K	6.07M	2.61M	1.89M
Working Capital Changes	10.33M	10.55M	7.6M	-7.75M	-8.79M	556K	-28.86M	771K	-28M	-13M
Change in Receivables	0	0	0	0	0	0	0	0	0	0
Change in Inventory	-23.07M	-1.03M	6.05M	-23.1M	12.99M	-16.78M	-10.5M	15.8M	2.35M	-2.12M
Change in Payables	2.48M	-1.34M	3.04M	-1.72M	1.83M	6.08M	-4.57M	-2.66M	-428K	-1.27M
Cash from Investing+	-25.12M	-31.88M	-12.9M	-69M	47.49M	-33.96M	-14.19M	-12.37M	-11.97M	-213.09M
Capital Expenditures	-23.73M	-32.7M	-13.22M	-11.43M	-16.57M	-15.09M	-12.76M	-10.4M	-14.49M	-10.07M
CapEx % of Revenue	0.03%	0.03%	0.01%	0.01%	0.02%	0.01%	0.01%	0.01%	0.02%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1.58M	815K	318K	4.85M	231K	281K	131K	7K	15K	64K
Cash from Financing+	-49.16M	-64.86M	-50.32M	-105.28M	-152.05M	-59.44M	-181.41M	-30.09M	-14.24M	9.55M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	12.02M	-250K	-316K	98K	0	-2.37M	-3.58M	-4.71M	-3.43M	-3.22M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	87.74M	104.33M	110.56M	140.69M	110.16M	145.31M	108.46M	93.5M	56.15M	50.92M
FCF Margin %	0.1%	0.1%	0.11%	0.12%	0.1%	0.13%	0.09%	0.09%	0.06%	0.06%
FCF Growth %	0.04%	0.19%	0.06%	0.27%	-0.22%	0.32%	-0.25%	-0.14%	-0.4%	-0.09%
FCF per Share	3.33	4.17	4.47	5.71	4.83	6.84	5.33	4.84	2.90	2.66
FCF Conversion (FCF/Net Income)	1.18x	1.37x	1.98x	1.21x	1.26x	1.29x	1.04x	1.50x	1.11x	1.45x
Interest Paid	15K	323K	16K	6K	11K	711K	10K	49K	68K	76K
Taxes Paid	35.78M	52.58M	46.01M	70.68M	54.91M	53.02M	59.52M	45.86M	44.25M	40.47M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	37.05%	33.01%	18.17%	33.47%	27.06%	31.43%	27.85%	16.72%	13.69%	7.76%
Return on Invested Capital (ROIC)	82.79%	72.41%	74.84%	96.46%	68.68%	90.44%	79.08%	48.56%	41.08%	15.95%
Gross Margin	82.61%	82.09%	82.87%	83.12%	82.33%	81.57%	81.63%	80.58%	80.82%	81.13%
Net Margin	10.31%	9.94%	5.97%	10.61%	9.48%	10.99%	9.82%	6.94%	6.93%	4.92%
Debt / Equity	-	-	-	-	0.07x	0.05x	0.04x	0.03x	0.03x	0.07x
Interest Coverage	9444.13x	312.21x	2880.52x	5232.03x	2215.00x	348.11x	2985.82x	560.49x	355.23x	236.03x
FCF Conversion	1.18x	1.37x	1.98x	1.21x	1.26x	1.29x	1.04x	1.50x	1.11x	1.45x
Revenue Growth	16.2%	9.54%	4.09%	13.56%	-10.79%	6.95%	4.57%	-15.83%	-7.77%	-7.22%

Revenue by Segment

	2022	2023	2024
Direct Selling	995.04M	915.21M	845.79M
Direct Selling Growth	-	-8.02%	-7.59%
All Other	3.56M	5.8M	6.74M
All Other Growth	-	62.98%	16.30%

Revenue by Geography

	2022	2023	2024
Asia Pacific	801.92M	740.43M	682.99M
Asia Pacific Growth	-	-7.67%	-7.76%
China	502.49M	475.1M	457.98M
China Growth	-	-5.45%	-3.60%
Americas And Europe	196.69M	180.57M	171.52M
Americas And Europe Growth	-	-8.19%	-5.02%
Southeast Asia Pacific	190.48M	163.89M	146.79M
Southeast Asia Pacific Growth	-	-13.96%	-10.43%
North Asia	108.95M	101.45M	78.21M
North Asia Growth	-	-6.89%	-22.90%

Frequently Asked Questions

Valuation & Price

USANA Health Sciences, Inc. (USNA) has a price-to-earnings (P/E) ratio of 9.4x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

USANA Health Sciences, Inc. (USNA) reported $912.7M in revenue for fiscal year 2024. This represents a 57% increase from $581.9M in 2011.

USANA Health Sciences, Inc. (USNA) saw revenue decline by 7.2% over the past year.

Yes, USANA Health Sciences, Inc. (USNA) is profitable, generating $17.0M in net income for fiscal year 2024 (4.9% net margin).

Dividend & Returns

USANA Health Sciences, Inc. (USNA) has a return on equity (ROE) of 7.8%. This is below average, suggesting room for improvement.

USANA Health Sciences, Inc. (USNA) generated $18.7M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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