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 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
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
FCF
Total debt
Cash
2025
$5.0B
$228M
77.9%
9.5%
$253M
$2.0B
$353M
2024
$5.0B
$254M
77.9%
7.7%
$163M
$2.3B
$415M
2023
$5.1B
$142M
76.5%
7.0%
$223M
$2.6B
$575M
2022
$5.2B
$321M
77.4%
10.5%
$196M
$2.7B
$508M
2021
$5.8B
$447M
78.6%
12.7%
$309M
$2.8B
$602M
2020
$5.5B
$373M
79.2%
11.6%
$517M
$2.4B
$1.0B
2019
$4.9B
$311M
80.4%
11.6%
$351M
$1.8B
$839M
2018
$4.9B
$297M
81.2%
14.0%
$564M
$2.5B
$1.2B
2017
$4.4B
$214M
80.8%
13.9%
$495M
$2.3B
$1.3B
2016
$4.5B
$260M
81.0%
10.2%
$224M
$1.4B
$844M
2015
—
$339M
—
—
—
$1.6B
$890M
2014
—
$309M
—
—
—
$1.8B
$645M
2013
—
$528M
—
—
$626M
$931M
$973M
2012
—
$464M
—
—
$446M
—
$334M
2011
—
$415M
—
—
$420M
—
$259M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
Mar '26
$1.3B
$62M
77.9%
10.5%
$103M
$2.0B
$451M
Dec '25
$1.3B
$85M
77.5%
7.8%
$80M
$2.0B
$353M
Sep '25
$1.3B
$43M
77.7%
9.9%
$118M
$2.0B
$306M
Jun '25
$1.3B
$49M
78.0%
10.5%
$73M
$2.1B
$321M
Mar '25
$1.2B
$50M
78.3%
10.1%
-$18M
$2.2B
$329M
Dec '24
$1.2B
$178M
77.8%
8.8%
$44M
$2.3B
$415M
Sep '24
$1.2B
$47M
78.3%
10.2%
$72M
$2.3B
$403M
Jun '24
$1.3B
$5M
77.9%
6.3%
$66M
$2.3B
$374M
Mar '24
$1.3B
$24M
77.5%
5.7%
-$19M
$2.4B
$398M
Dec '23
$1.2B
$10M
76.3%
4.6%
$61M
$2.6B
$575M
Sep '23
$1.3B
$43M
76.3%
8.3%
$49M
$2.6B
$496M
Jun '23
$1.3B
$60M
77.0%
9.4%
$97M
$2.6B
$527M
Mar '23
$1.3B
$29M
76.2%
5.6%
$16M
$2.6B
$454M
Dec '22
$1.2B
$54M
77.5%
7.5%
$11M
$2.7B
$508M
Sep '22
$1.3B
$82M
78.0%
11.4%
$32M
$2.8B
$533M
Jun '22
$1.4B
$87M
77.3%
11.2%
$64M
$2.8B
$581M
Mar '22
$1.3B
$98M
77.0%
11.5%
$89M
$2.8B
$570M
Dec '21
$1.3B
$38M
77.5%
6.4%
$39M
$2.8B
$602M
Sep '21
$1.4B
$117M
78.7%
13.2%
$52M
$2.8B
$678M
Jun '21
$1.6B
$144M
79.2%
15.3%
$142M
$2.8B
$838M
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 5.2× (Mar '23) to 5.4× (Jun '26).
The price-to-sales ratio has fallen from 0.3× (Mar '23) to 0.2× (Jun '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?
As of Jun '26, Herbalife Ltd. traded at a price-to-earnings ratio of about 5.4× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. 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), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.