Natures Sunshine Products Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
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.
Why this colour
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.
What the thesis turns on
Assessment: Opportunities & Risks
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.
Growth and market position
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).
Balance sheet and funding
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.
Quality of earnings
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.
Business model and dependencies
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.
Regulation and geopolitics
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.
Leadership and capital actions
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.
Worth Noting
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.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at NATR since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 13.10 $ to 27.80 $ · Last price: 13.10 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
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.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Packaged Foods
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Natures Sunshine Products Inc NATR | 0.2 | – | 4.2 | 73.2 | – | 5.7 | -20.6 |
| JBS N.V. JBS | 39.9 | 11.7 | 6.2 | 11.8 | 2.5 | 13.0 | -16.1 |
| Kraft Heinz Co KHC | 29.1 | – | 13.1 | 33.5 | 20.7 | -3.5 | 2.7 |
| General Mills Inc GIS | 19.9 | 9.2 | 21.6 | 33.7 | 19.2 | -1.9 | -20.8 |
| McCormick & Company Incorporated MKC-V | 13.8 | 8.6 | 13.4 | 38.9 | 17.4 | 1.7 | -18.7 |
| McCormick & Company Incorporated MKC | 13.5 | 8.9 | 13.1 | 38.9 | 17.4 | 1.7 | -23.2 |
| The J. M. Smucker Company SJM | 12.8 | – | 14.8 | 38.0 | 18.5 | 3.7 | 22.5 |
| Hormel Foods Corporation HRL | 11.6 | 28.1 | 15.5 | 15.7 | 11.1 | 1.6 | -12.2 |
| Darling Ingredients Inc DAR | 10.7 | 48.5 | 9.6 | 26.3 | 8.1 | 7.4 | 100.8 |
| Median of companies shown | 13.5 | 10.4 | 13.1 | 33.7 | 17.4 | 1.7 | -16.1 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
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.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($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 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
| 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 |
| 2026: Q2 | 0.19 | -36.70 | 117 | 1.90 | 3.00 | 1 | -2 |
What Do These Terms Mean?
- 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.
Screening
Appears in These Scanners
This stock currently matches 5 of our scanner strategies — each hit links to the scanner.
Backtested Scanners
Quality & Balance Sheet
Momentum & Trend
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
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.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 1.08 | 1.03 – 1.13 | 496 | -14.3% | 2 |
| 12/31/2027 | 1.23 | 1.08 – 1.38 | 519 | 13.9% | 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.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly 1.7% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $18.1M |
|---|---|
| Market cap | $233.0M |
| Free cash flow in year ten | $21.4M |
| Terminal value as a share of market value | 48.3% |
For comparison: over the past five years free cash flow shrank by 2.5% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
In 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
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 4.4%
- More than 10% revenue growth is expected for the coming year 4.8%
- Share count grows by less than 3% a year -1.5%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 11.7%
- Gross margin at 40% or higher and without meaningful erosion 72.4%
- Goodwill from acquisitions does not grow faster than revenue 0.0%
- Net debt below twice EBITDA 75 m net cash
- Operating cash flow covers the profits of the last three years 60 m
- Return on capital at 15% or higher, or up versus two years ago 13.6%
- Insiders hold at least 10% or are net buyers 3.1%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
5/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 3.9%
- Exp. sales growth 3Y > 5% 4.0%
- EBIT growth 10Y > 5% 10.5%
- Exp. EBIT growth 3Y > 5% 7.9%
- Net debt < 4x EBIT -3.0x
- EBIT positive, 10Y straight 10
- Max. EBIT decline < 50% 86.2%
- Return on equity > 15% 12.1%
- ROCE > 15% 13.5%
- Expected return > 10% 21.2%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Sep 2, 2026 | Perkins Ruth Ann | EVP, Chief Financial Officer | Other | 36,049 | 0.00 | – |
| Sep 2, 2026 | Perkins Ruth Ann | EVP, Chief Financial Officer | Other | 39,384 | 0.00 | – |
| Sep 1, 2026 | Lanoy Jonathan David | SVP, Chief Accounting Officer | Other | 7,210 | 0.00 | – |
| Aug 17, 2026 | Prescott Group Capital Management, L.l.c. | 10% Owner | Buy | 20,000 | 14.69 | 293,800 |
| Aug 10, 2026 | Prescott Group Capital Management, L.l.c. | 10% Owner | Buy | 10,000 | 16.01 | 160,100 |
| Aug 10, 2026 | Prescott Group Capital Management, L.l.c. | 10% Owner | Buy | 13,072 | 15.78 | 206,276 |
| Aug 10, 2026 | Prescott Group Capital Management, L.l.c. | 10% Owner | Buy | 16,928 | 15.80 | 267,462 |
| Aug 10, 2026 | Prescott Group Capital Management, L.l.c. | 10% Owner | Buy | 876 | 15.64 | 13,701 |
| Aug 7, 2026 | Prescott Group Capital Management, L.l.c. | 10% Owner | Buy | 30,000 | 16.68 | 500,400 |
| Aug 7, 2026 | Prescott Group Capital Management, L.l.c. | 10% Owner | Buy | 5,000 | 16.62 | 83,100 |
The company
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
- 06/25/2009
- ISIN
- US6390271012
- Stock Split
- 3:2 on 03/25/1996
- Stock Split
- 11:10 on 02/13/1995
- Stock Split
- 4:3 on 02/01/1993
Management
| Name | Title | Birth Year |
|---|---|---|
| Kenneth G. Romanzi | CEO & Director | 1960 |
| Daniel C. Norman | Executive VP & President of Asia/Pacific (APAC) | 1974 |
| Ruth Perkins | Executive VP & CFO | 1980 |
| Jonathan D. Lanoy | Senior VP, Chief Accounting Officer & Principal Accounting 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 |
| Erich A. Fritz | Executive Vice President of Global Supply Chain | 1951 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/06/2026 NATURES SUNSHINE PRODUCTS INC (NATR): Results of Operations and Financial Condition; Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 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.