HLF Financials Herbalife Ltd.

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Nov 3, 2026, 11:07 UTC Overview →

Growth & profitability

Revenue has declined 1.9% per year over the past 5 years.
Net income has grown slower than revenue (-9.3% vs -1.9% per year).
Operating margin has contracted, at 9.5% in the latest year.
Free cash flow has declined 13.3% per year over the past 5 years.

Financial health

Total debt ($2.0B) exceeds cash ($353M); net debt is $1.6B.
Total debt has grown in line with revenue (-3.9% vs -1.9% per year).
Operating income covered interest expense 2.2× in the latest year, down from 4.8× 5 years ago.
Total debt is 3.3× EBITDA.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$5.0B	$228M	77.9%	9.5%	-44.3%	8.2%	$253M	$2.0B	$353M
2024	$5.0B	$254M	77.9%	7.7%	-31.7%	9.3%	$163M	$2.3B	$415M
2023	$5.1B	$142M	76.5%	7.0%	-13.4%	5.1%	$223M	$2.6B	$575M
2022	$5.2B	$321M	77.4%	10.5%	-25.4%	11.8%	$196M	$2.7B	$508M
2021	$5.8B	$447M	78.6%	12.7%	-32.1%	15.9%	$309M	$2.8B	$602M
2020	$5.5B	$373M	79.2%	11.6%	-43.5%	12.1%	$517M	$2.4B	$1.0B
2019	$4.9B	$311M	80.4%	11.6%	-79.7%	11.6%	$351M	$1.8B	$839M
2018	$4.9B	$297M	81.2%	14.0%	-41.0%	10.6%	$564M	$2.5B	$1.2B
2017	$4.4B	$214M	80.8%	13.9%	-63.9%	7.4%	$495M	$2.3B	$1.3B
2016	$4.5B	$260M	81.0%	10.2%	132.5%	10.1%	$224M	$1.4B	$844M
2015	—	$339M	—	—	-633.8%	13.7%	—	$1.6B	$890M
2014	—	$309M	—	—	-92.3%	13.1%	—	$1.8B	$645M
2013	—	$528M	—	—	95.7%	21.3%	$626M	$931M	$973M
2012	—	$464M	—	—	117.3%	26.9%	$446M	—	$334M
2011	—	$415M	—	—	75.7%	28.4%	$420M	—	$259M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$1.4B	$59M	77.3%	10.3%	-14.4%	2.0%	$133M	$1.9B	$409M
Jun '26	$1.3B	-$26M	77.7%	9.7%	5.5%	-0.9%	$22M	$2.0B	$371M
Mar '26	$1.3B	$62M	77.9%	10.5%	-14.0%	2.2%	$103M	$2.0B	$451M
Dec '25	$1.3B	$85M	77.5%	7.8%	-16.6%	3.1%	$80M	$2.0B	$353M
Sep '25	$1.3B	$43M	77.7%	9.9%	-7.1%	1.6%	$118M	$2.0B	$306M
Jun '25	$1.3B	$49M	78.0%	10.5%	-7.5%	1.8%	$73M	$2.1B	$321M
Mar '25	$1.2B	$50M	78.3%	10.1%	-6.8%	1.9%	-$18M	$2.2B	$329M
Dec '24	$1.2B	$178M	77.8%	8.8%	-22.2%	6.5%	$44M	$2.3B	$415M
Sep '24	$1.2B	$47M	78.3%	10.2%	-5.0%	1.8%	$72M	$2.3B	$403M
Jun '24	$1.3B	$5M	77.9%	6.3%	-0.5%	0.2%	$66M	$2.3B	$374M
Mar '24	$1.3B	$24M	77.5%	5.7%	-2.3%	0.9%	-$19M	$2.4B	$398M
Dec '23	$1.2B	$10M	76.3%	4.6%	-1.0%	0.4%	$61M	$2.6B	$575M
Sep '23	$1.3B	$43M	76.3%	8.3%	-3.9%	1.6%	$49M	$2.6B	$496M
Jun '23	$1.3B	$60M	77.0%	9.4%	-5.2%	2.2%	$97M	$2.6B	$527M
Mar '23	$1.3B	$29M	76.2%	5.6%	-2.4%	1.1%	$16M	$2.6B	$454M
Dec '22	$1.2B	$54M	77.5%	7.5%	-4.3%	2.0%	$11M	$2.7B	$508M
Sep '22	$1.3B	$82M	78.0%	11.4%	-6.0%	3.0%	$32M	$2.8B	$533M
Jun '22	$1.4B	$87M	77.3%	11.2%	-6.1%	3.1%	$64M	$2.8B	$581M
Mar '22	$1.3B	$98M	77.0%	11.5%	-6.8%	3.5%	$89M	$2.8B	$570M
Dec '21	$1.3B	$38M	77.5%	6.4%	-2.7%	1.4%	$39M	$2.8B	$602M

Valuation over time

How the market has priced HLF against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 5.3× (Mar '23) to 6.1× (Nov '26).
The price-to-sales ratio has fallen from 0.3× (Mar '23) to 0.3× (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Frequently asked questions

Is HLF growing its revenue and profit?

Over the past 5 years, Herbalife Ltd.'s revenue has declined 1.9% per year, and net income declined 9.3% per year. These are computed facts, not advice.

How much debt does HLF have?

As of FY2025, Herbalife Ltd. reported $2.0B of total debt against $353M of cash; operating income covered interest expense 2.2×.

What is HLF's profit margin?

In FY2025, gross margin was 77.9%, operating margin 9.5%, and net margin 4.5%.

What is HLF's P/E ratio?

Herbalife Ltd.'s P/E (TTM) is 7.75 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the HLF stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 6.1× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.