Natures Sunshine Products Inc (NATR)
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symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
The business model works and the balance sheet is healthy — no debt, a 63.8 percent equity ratio, growing revenue in all four regions. What stays open is a material operating question: whether an operating margin of 5.1 percent in a shrinking sales model can hold up when tariffs weigh on costs through 2026, when 96 percent of the cash sits abroad, and when the bottom line is set by exchange rates and a 37.2 percent effective tax rate. Add a finance function that has been interim since June 2026. No substance risk, but no proven quality either. The decision is yours.
symbol.quality_note
Nature's Sunshine Products sells herbal capsules through independent consultants — and has earned more than the market expected five quarters in a row. That is why the stock sits at rank 50 in our Big Earnings Surprise ranking. The filings with the U.S. securities regulator, the SEC, show two things at once: the business really is growing (net sales of $480.1 million in 2025, up 8.5 percent in the first quarter of 2026, all four regions higher) — but little of that reaches the bottom line, because taxes, currencies and a shrinking share count write the second half of the story. Add $84.0 million of cash held abroad, a twelfth of revenue in Russia and Ukraine, and a finance chief who has only been an interim since June 2026. Not investment advice — just a look at who set that bar in the first place.
Read the analysis
Stock Watch
This analysis is as of July 26, 2026. Stock Watch will tell you what's changed at NATR since then.
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Appears in These Scanners
This stock currently matches 5 of our scanner strategies — each hit links to the scanner.
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Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 20.20 $ — 48% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
AI Rating
NeutralIn allen sechs ausgewerteten SEC-Berichten (2× 10-K, 4× 10-Q) kommt kein Bezug auf künstliche Intelligenz vor — weder als Umsatzquelle noch als Effizienzhebel noch als Risiko; das Geschäftsmodell ist Herstellung und Direktvertrieb von Nahrungsergänzung.
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-Q 2026-05-07 · 10-Q 2025-11-06 · 10-Q 2025-07-31 · 10-Q 2025-05-06 · 10-K 2026-03-10 · 10-K 2025-03-11
Rated on July 25, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 70.8% above the current price.
- Consensus
- Strong Sell
- Analyst Ratings
- 2
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 1.18 | 1.13 – 1.22 | 508 | -6.8% | 2 |
| 12/31/2027 | 1.33 | 1.22 – 1.43 | 532 | 12.8% | 2 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- 0.27 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -0.02 | -103.60 | 118 | 8.50 | -0.30 | 12 | 10 |
| 2025: Q1 | 0.27 | 104.50 | 113 | 2.00 | 4.20 | 3 | 2 |
| 2025: Q2 | 0.30 | 295.30 | 115 | 3.80 | 4.60 | 4 | 3 |
| 2025: Q3 | 0.30 | 22.70 | 128 | 12.00 | 4.20 | 19 | 17 |
| 2025: Q4 | 0.23 | – | 124 | 4.70 | 3.30 | 10 | 8 |
| 2026: Q1 | 0.29 | 7.80 | 123 | 8.50 | 4.20 | -2 | -4 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 341 | 10 | 2 | 0.11 | 3 | 131 | 206 |
| 2017 | 342 | 1 | -13 | -0.69 | 11 | 119 | 195 |
| 2018 | 365 | 5 | -1 | -0.04 | 22 | 121 | 193 |
| 2019 | 362 | 16 | 7 | 0.34 | 9 | 129 | 213 |
| 2020 | 385 | 21 | 21 | 1.07 | 38 | 155 | 250 |
| 2021 | 444 | 35 | 29 | 1.42 | 35 | 158 | 259 |
| 2022 | 422 | 16 | 0 | -0.02 | 1 | 143 | 230 |
| 2023 | 445 | 19 | 15 | 0.77 | 41 | 154 | 250 |
| 2024 | 454 | 20 | 8 | 0.41 | 25 | 155 | 241 |
| 2025 | 480 | 25 | 20 | 1.06 | 35 | 162 | 261 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
Net sales rose 5.7 percent in 2025 to $480.1 million, the highest of the five-year run, and 8.5 percent in the first quarter of 2026 to $122.9 million — in all four regions at once. While the peer group of Herbalife, LifeVantage, Nu Skin and USANA fell from $100 to $25.66 in the annual report's five-year performance table, Nature's Sunshine rose to $152.42 (December 31, 2020 to December 31, 2025).
At March 31, 2026 equity of $166.9 million stands against total assets of $261.5 million (63.8 percent), plus $87.6 million of cash and an undrawn credit facility ($25.0 million available to July 1, 2027). The caveat: $84.0 million of that cash sits abroad and may be subject to withholding taxes and repatriation restrictions.
Little of the operating improvement arrives at the bottom: in the first quarter of 2026 a 54.7 percent gain in operating income translated into only a 7.8 percent gain in net income attributable to common shareholders — a $1.4 million foreign exchange loss and a 37.2 percent effective tax rate in between. On top of that, part of earnings per share comes from the repurchase of 1,260,000 shares in 2025, not from operations.
The operating margin was 5.1 percent in 2025, because 30.1 percent of net sales flows to independent consultants as commission. The 2025 annual report names dependence on a few consultants in individual markets as an explicit risk; Taiwan, the second-largest single market, fell 16.1 percent in the first quarter of 2026.
Eastern Europe accounted for $60.0 million of 2025 net sales (12.5 percent of the group) and is still growing. The voluntary self-disclosure over potential U.S. trade control violations was closed by BIS without further action on November 3, 2025, but the disclosure with the sanctions agency OFAC remains pending per the quarterly report for the quarter ended March 31, 2026. The company also expects adverse tariff effects on costs for the remainder of 2026.
CEO Kenneth Romanzi has been in office since October 29, 2025, and the finance function has been led on an interim basis since June 5, 2026. The 2026 Stock Incentive Plan reserves 1,500,000 shares — 8.5 percent of the count — and passed on May 6, 2026 by a narrow 6,357,245 votes in favor against 5,723,107 opposed, with 1,850,962 abstentions.
Nature's Sunshine delivers exactly what its label promises — and less than the headline suggests. The business really is growing ($480.1 million of net sales in 2025, up 8.5 percent in the first quarter of 2026, all four regions higher), the balance sheet carries no debt, and against a direct selling industry that has lost three quarters of its value since 2020 the company looks excellent. But the famous streak of five quarters above expectations shrinks in daylight: the bar is set by two analysts, part of earnings per share comes from repurchased stock, and of a 54.7 percent gain in operating income only a 7.8 percent gain in profit survived currency swings and a 37.2 percent tax rate. Add $84.0 million of the $87.6 million cash balance held abroad, a twelfth of revenue in Russia and Ukraine, and an interim finance chief. Not investment advice.
- Nature's Sunshine came onto the research list through the "Big Earnings Surprise" list of our in-house stock scanner: rank 50 of 81 U.S. hits at a relative strength reading of 45, as of July 25, 2026. The lists are recomputed daily, so the ranking is a snapshot.
- Data basis and scope: annual figures come from the Form 10-K for 2025 filed March 10, 2026; quarterly figures from the Form 10-Q for the quarter ended March 31, 2026, filed May 7, 2026. Filings after May 7, 2026 were reviewed; the material ones are the Form 8-K dated May 11, 2026 (CFO resignation effective June 5, 2026) and the Form S-8 dated May 15, 2026 for the new equity plan. The second quarter 2026 report was not yet available at the time of writing.
- Not to be confused: Nature's Sunshine Products, Inc. (NATR) has nothing to do with Sunshine Beverages or with Nature's Bounty (part of Nestlé Health Science). Alongside its main brand the company runs the second brand Synergy WorldWide.
About the Company
Nature's Sunshine Products, Inc., ein Unternehmen für natürliche Gesundheit und Wellness, fertigt und verkauft Nahrungsergänzungsmittel und Körperpflegeprodukte in Asien, Europa, Nordamerika, Lateinamerika und international.
| Employees | 806 |
|---|---|
| Headquarters | Lehi, UT |
| Address | 2901 West Bluegrass Blvd., 84043 Lehi, United States |
| Phone | 801 341 7900 |
| Website | naturessunshine.com |
| IPO Date | 25. Jun 2009 |
| ISIN | US6390271012 |
| Stock Split | 3:2 on 03/25/1996 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Kenneth G. Romanzi | CEO & Director | 1960 |
| Daniel C. Norman | Executive VP & President of Asia/Pacific (APAC) | 1974 |
| L. Shane Jones | Executive VP of Finance & Treasurer | 1971 |
| Jonathan D. Lanoy | SVP, Chief Accounting Ofcr., Principal Accounting Ofcr. & Interim Principal Financial Officer | 1975 |
| John Hnanicek | Chief Technology Officer | – |
| Nathan G. Brower J.D. | Executive VP, General Counsel & Secretary | 1980 |
| Kevin Fuller Gregory | Global Chief Marketing Officer | 1971 |
| Jason Roberts | Vice President of Global Human Resources | – |
| Bryant J. Yates | Executive VP and President of Europe & Latin America | 1973 |
| Kevin R. Herbert | Executive VP & President of North America | 1967 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.