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HERBALIFE LTD.

HLF Clue Score37
Cayman Islands Fiscal year ends December CIK 0001180262
$13.03 +1.64% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $13.03 −69.85% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue4,488.4Operating income458.1Net income260.0EPS, diluted1.51Fiscal year 2017Revenue4,427.7 −1.4%Operating income617.1Net income213.9 −17.7%EPS, diluted1.29 −14.6%Fiscal year 2018Revenue4,891.8 +10.5%Operating income683.1Net income296.6 +38.7%EPS, diluted1.98 +53.5%Fiscal year 2019Revenue4,877.1 −0.3%Operating income568.1Net income311.0 +4.9%EPS, diluted2.20 +11.1%Fiscal year 2020Revenue5,541.8 +13.6%Operating income640.6Net income372.6 +19.8%EPS, diluted2.77 +25.9%Fiscal year 2021Revenue5,802.8 +4.7%Operating income734.1Net income447.2 +20.0%EPS, diluted4.13 +49.1%Fiscal year 2022Revenue5,204.4 −10.3%Operating income545.2Net income321.3 −28.2%EPS, diluted3.23 −21.8%Fiscal year 2023Revenue5,062.4 −2.7%Operating income356.4Net income142.2 −55.7%EPS, diluted1.42 −56.0%Fiscal year 2024Revenue4,993.1 −1.4%Operating income385.9Net income254.3 +78.8%EPS, diluted2.50 +76.1%Fiscal year 2025Revenue5,037.5 +0.9%Operating income481.0Net income228.3 −10.2%EPS, diluted2.20 −12.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 4,488.4 4,427.7 4,891.8 4,877.1 5,541.8 5,802.8 5,204.4 5,062.4 4,993.1 5,037.5
Growth −1.4% +10.5% −0.3% +13.6% +4.7% −10.3% −2.7% −1.4% +0.9%
Operating income 458.1 617.1 683.1 568.1 640.6 734.1 545.2 356.4 385.9 481.0
Net income 260.0 213.9 296.6 311.0 372.6 447.2 321.3 142.2 254.3 228.3
Growth −17.7% +38.7% +4.9% +19.8% +20.0% −28.2% −55.7% +78.8% −10.2%
EPS, diluted 1.51 1.29 1.98 2.20 2.77 4.13 3.23 1.42 2.50 2.20
Growth −14.6% +53.5% +11.1% +25.9% +49.1% −21.8% −56.0% +76.1% −12.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin81.0%Operating margin10.2%Net margin5.8%Free cash flow margin5.0%Fiscal year 2017Gross margin80.8%Operating margin13.9%Net margin4.8%Free cash flow margin11.2%Fiscal year 2018Gross margin81.2%Operating margin14.0%Net margin6.1%Free cash flow margin11.5%Fiscal year 2019Gross margin80.4%Operating margin11.6%Net margin6.4%Free cash flow margin7.2%Fiscal year 2020Gross margin79.2%Operating margin11.6%Net margin6.7%Free cash flow margin9.3%Fiscal year 2021Gross margin78.6%Operating margin12.7%Net margin7.7%Free cash flow margin5.3%Fiscal year 2022Gross margin77.4%Operating margin10.5%Net margin6.2%Free cash flow margin3.8%Fiscal year 2023Gross margin76.5%Operating margin7.0%Net margin2.8%Free cash flow margin4.4%Fiscal year 2024Gross margin77.9%Operating margin7.7%Net margin5.1%Free cash flow margin3.3%Fiscal year 2025Gross margin77.9%Operating margin9.5%Net margin4.5%Free cash flow margin5.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 81.0% 80.8% 81.2% 80.4% 79.2% 78.6% 77.4% 76.5% 77.9% 77.9%
Operating margin 10.2% 13.9% 14.0% 11.6% 11.6% 12.7% 10.5% 7.0% 7.7% 9.5%
Net margin 5.8% 4.8% 6.1% 6.4% 6.7% 7.7% 6.2% 2.8% 5.1% 4.5%
Free cash flow margin 5.0% 11.2% 11.5% 7.2% 9.3% 5.3% 3.8% 4.4% 3.3% 5.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow367.3Capital expenditure−143.4Free cash flow223.9Buybacks−13.2Dividends paid0.0Fiscal year 2017Operating cash flow590.8Capital expenditure−95.5Free cash flow495.3 +121.2%Buybacks−844.2Dividends paid0.0Fiscal year 2018Operating cash flow648.4Capital expenditure−84.0Free cash flow564.4 +14.0%Buybacks−750.3Dividends paid0.0Fiscal year 2019Operating cash flow457.5Capital expenditure−106.1Free cash flow351.4 −37.7%Buybacks−16.7Fiscal year 2020Operating cash flow628.6Capital expenditure−112.0Free cash flow516.6 +47.0%Buybacks−923.5Fiscal year 2021Operating cash flow460.3Capital expenditure−151.4Free cash flow308.9 −40.2%Buybacks−1,011.3Fiscal year 2022Operating cash flow352.5Capital expenditure−156.4Free cash flow196.1 −36.5%Buybacks−146.7Fiscal year 2023Operating cash flow357.5Capital expenditure−135.0Free cash flow222.5 +13.5%Buybacks−11.0Fiscal year 2024Operating cash flow285.4Capital expenditure−122.0Free cash flow163.4 −26.6%Buybacks−8.3Fiscal year 2025Operating cash flow333.3Capital expenditure−80.4Free cash flow252.9 +54.8%Buybacks−8.2
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 367.3 590.8 648.4 457.5 628.6 460.3 352.5 357.5 285.4 333.3
Capital expenditure −143.4 −95.5 −84.0 −106.1 −112.0 −151.4 −156.4 −135.0 −122.0 −80.4
Free cash flow 223.9 495.3 564.4 351.4 516.6 308.9 196.1 222.5 163.4 252.9
Growth +121.2% +14.0% −37.7% +47.0% −40.2% −36.5% +13.5% −26.6% +54.8%
Buybacks −13.2 −844.2 −750.3 −16.7 −923.5 −1,011.3 −146.7 −11.0 −8.3 −8.2
Dividends paid 0.0 0.0 0.0 n/a n/a n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash844.0Total debt1,447.9Net cash (debt)−603.9Shareholders’ equity196.3Debt to equity7.38Fiscal year 2017Cash1,278.8Total debt2,268.1Net cash (debt)−989.3Shareholders’ equity−334.7Fiscal year 2018Cash1,198.9Total debt2,453.8Net cash (debt)−1,254.9Shareholders’ equity−723.4Fiscal year 2019Cash839.4Total debt1,803.0Net cash (debt)−963.6Shareholders’ equity−390.0Fiscal year 2020Cash1,045.4Total debt2,428.4Net cash (debt)−1,383.0Shareholders’ equity−856.1Fiscal year 2021Cash601.5Total debt2,762.6Net cash (debt)−2,161.1Shareholders’ equity−1,391.5Fiscal year 2022Cash508.0Total debt2,692.0Net cash (debt)−2,184.0Shareholders’ equity−1,265.9Fiscal year 2023Cash575.2Total debt2,562.4Net cash (debt)−1,987.2Shareholders’ equity−1,060.3Fiscal year 2024Cash415.3Total debt2,260.1Net cash (debt)−1,844.8Shareholders’ equity−801.1Fiscal year 2025Cash353.1Total debt1,992.6Net cash (debt)−1,639.5Shareholders’ equity−515.1
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 844.0 1,278.8 1,198.9 839.4 1,045.4 601.5 508.0 575.2 415.3 353.1
Total debt 1,447.9 2,268.1 2,453.8 1,803.0 2,428.4 2,762.6 2,692.0 2,562.4 2,260.1 1,992.6
Net cash (debt) −603.9 −989.3 −1,254.9 −963.6 −1,383.0 −2,161.1 −2,184.0 −1,987.2 −1,844.8 −1,639.5
Shareholders’ equity 196.3 −334.7 −723.4 −390.0 −856.1 −1,391.5 −1,265.9 −1,060.3 −801.1 −515.1
Debt to equity 7.38 n/a n/a n/a n/a n/a n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
4,488.4 4,427.7 4,891.8 4,877.1 5,541.8 5,802.8 5,204.4 5,062.4 4,993.1 5,037.5
Growth −1.4% +10.5% −0.3% +13.6% +4.7% −10.3% −2.7% −1.4% +0.9%
854.6 848.6 919.3 958.0 1,150.6 1,239.3 1,173.6 1,191.0 1,104.3 1,114.6
3,633.8 3,579.1 3,972.5 3,919.1 4,391.2 4,563.5 4,030.8 3,871.4 3,888.8 3,922.9
Growth −1.5% +11.0% −1.3% +12.0% +3.9% −11.7% −4.0% +0.4% +0.9%
1,966.9 1,758.6 1,955.2 1,940.3 2,075.0 2,012.1 1,810.4 1,866.0 1,875.4 1,664.3
458.1 617.1 683.1 568.1 640.6 734.1 545.2 356.4 385.9 481.0
Growth +34.7% +10.7% −16.8% +12.8% +14.6% −25.7% −34.6% +8.3% +24.6%
364.7 471.2 464.2 451.4 516.4 560.8 424.8 203.0 169.4 275.1
104.7 257.3 167.6 140.4 143.8 113.6 103.5 60.8 −84.9 47.3
260.0 213.9 296.6 311.0 372.6 447.2 321.3 142.2 254.3 228.3
Growth −17.7% +38.7% +4.9% +19.8% +20.0% −28.2% −55.7% +78.8% −10.2%
Per share
1.57 1.35 2.12 2.26 2.83 4.22 3.26 1.44 2.53 2.22
1.51 1.29 1.98 2.20 2.77 4.13 3.23 1.42 2.50 2.20
Growth −14.6% +53.5% +11.1% +25.9% +49.1% −21.8% −56.0% +76.1% −12.0%
166.1 158.5 140.2 137.4 131.5 105.9 98.5 99.0 100.6 102.8
172.2 165.7 149.5 141.6 134.5 108.3 99.5 100.2 101.6 103.6
Growth −3.8% −9.8% −5.3% −5.0% −19.5% −8.1% +0.7% +1.4% +2.0%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue shrank 1.9% a year over five years, and earnings per share fell 4.5% a year.
  • The diluted share count fell 23.0% in five years, so buybacks did some of the work per share.
  • Operating margin is down 2.0 points on five years ago, at 9.5%.
  • Profitable in every one of the 10 years on file.