Latest Ratios: P/E Ratio -24.5x · EV/EBITDA N/A · ROE -3.1%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $21M | $36M | $53M | $67M | $39M | $77M | $57M | $58M | $209M | $171M | $283M |
| Enterprise Value | $17M | $32M | $42M | $14M | $-26362110 | $-3449760 | $-31537480 | $-34330020 | $77M | $36M | $158M |
| P/E Ratio → | -24.51 | — | 92.77 | 118.15 | 125.18 | 71.16 | 67.48 | — | 6.75 | 7.27 | 5.14 |
| P/S Ratio | 0.53 | 0.89 | 1.24 | 1.53 | 0.80 | 1.29 | 0.92 | 0.75 | 1.09 | 0.87 | 0.99 |
| P/B Ratio | 0.92 | 1.52 | 1.61 | 1.61 | 0.78 | 1.30 | 0.84 | 0.78 | 2.33 | 1.89 | 3.44 |
| P/FCF | — | — | — | — | — | 97.63 | 33.99 | — | 7.09 | 6.50 | 5.42 |
| P/OCF | — | — | — | — | — | 76.01 | 30.18 | — | 7.04 | 6.43 | 5.33 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.80 | 0.98 | 0.33 | -0.54 | -0.06 | -0.51 | -0.44 | 0.40 | 0.18 | 0.55 |
| EV / EBITDA | — | — | — | — | — | -1.84 | -29.23 | — | 2.24 | 0.82 | 2.44 |
| EV / EBIT | — | — | — | — | — | -2.20 | -47.14 | — | 2.22 | 0.83 | 2.46 |
| EV / FCF | — | — | — | — | — | -4.36 | -18.84 | — | 2.60 | 1.36 | 3.01 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 73.5% | 73.5% | 74.0% | 74.6% | 74.2% | 75.0% | 72.6% | 74.1% | 79.5% | 80.4% | 80.9% |
| Operating Margin | -4.5% | -4.5% | -3.0% | -3.8% | -0.5% | 2.6% | 1.1% | -9.0% | 17.6% | 21.8% | 22.3% |
| Net Profit Margin | -2.2% | -2.2% | 1.3% | 1.3% | 0.6% | 1.8% | 1.4% | -7.2% | 16.2% | 11.9% | 19.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -3.1% | -3.1% | 1.5% | 1.2% | 0.6% | 1.7% | 1.2% | -6.8% | 34.4% | 27.2% | 79.1% |
| ROA | -1.9% | -1.9% | 0.9% | 0.7% | 0.3% | 1.1% | 0.8% | -4.1% | 19.6% | 15.3% | 40.5% |
| ROIC | -6.5% | -6.5% | -17.9% | — | — | — | — | — | — | — | — |
| ROCE | -6.1% | -6.1% | -3.1% | -3.0% | -0.4% | 2.0% | 0.8% | -6.8% | 29.0% | 41.3% | 83.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.13 | 0.13 | 0.08 | 0.08 | 0.08 | 0.05 | 0.06 | 0.04 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | 1.69 | 3.65 | — | — | — | — |
| Net Debt / Equity | — | -0.16 | -0.33 | -1.27 | -1.31 | -1.36 | -1.31 | -1.24 | -1.48 | -1.49 | -1.53 |
| Net Debt / EBITDA | — | — | — | — | — | -43.14 | -81.95 | — | -3.88 | -3.10 | -1.95 |
| Debt / FCF | — | — | — | — | — | -101.99 | -52.82 | — | -4.50 | -5.14 | -2.41 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($7M) exceeds total debt ($3M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.50 | 2.50 | 2.45 | 3.21 | 3.79 | 3.79 | 4.64 | 4.12 | 3.49 | 3.61 | 2.47 |
| Quick Ratio | 2.35 | 2.35 | 2.29 | 3.00 | 3.57 | 3.58 | 4.46 | 3.88 | 3.20 | 3.41 | 2.27 |
| Cash Ratio | 2.11 | 2.11 | 2.11 | 2.81 | 3.41 | 3.40 | 4.29 | 3.65 | 3.08 | 3.23 | 2.20 |
| Asset Turnover | — | 1.04 | 0.78 | 0.64 | 0.59 | 0.61 | 0.59 | 0.65 | 1.22 | 1.24 | 1.94 |
| Inventory Turnover | 5.14 | 5.14 | 3.42 | 2.60 | 2.80 | 2.86 | 4.50 | 3.14 | 3.24 | 4.60 | 4.88 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 42.6% | 25.9% | 17.4% | 13.7% | 23.3% | 11.8% | 16.1% | 12.6% | 15.1% | 10.1% | 2.4% |
| Payout Ratio | — | — | 1610.7% | 1622.4% | 2919.5% | 842.2% | 1084.0% | — | 101.5% | 73.0% | 12.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 1.1% | 0.8% | 0.8% | 1.4% | 1.5% | — | 14.8% | 13.8% | 19.4% |
| FCF Yield | — | — | — | — | — | 1.0% | 2.9% | — | 14.1% | 15.4% | 18.4% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 17.3% | 0.0% | 0.0% | 8.4% |
| Total Shareholder Yield | 42.6% | 25.9% | 17.4% | 13.7% | 23.3% | 11.8% | 16.1% | 29.9% | 15.1% | 10.1% | 10.8% |
| Shares Outstanding | — | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M |
Rapid liquidity depletion risk
Based on reported figures, NHTC's P/S ratio of 0.45 suggests the market is pricing the firm as a terminal asset, reflecting deep skepticism regarding its ability to return to profitability compared to more stable peers like Nu Skin or Usana Health Sciences.
The negative TTM P/E ratio of -20.73 renders traditional earnings-based valuation metrics irrelevant, signaling that investors have shifted focus entirely to the company's liquidation value. The 50.4% dividend yield appears unsustainable and likely reflects a market expectation of a dividend cut rather than a genuine income opportunity.
As reported in recent financial statements, NHTC's ROIC has trended into negative territory, reaching -2.4% in 2026Q1, which indicates that the company is currently destroying shareholder value rather than compounding it through its core multi-level marketing operations.
The consistent decline in ROIC over the last ten quarters suggests that the firm's invested capital is no longer generating sufficient returns to cover the cost of maintaining its international infrastructure. This trend warrants further investigation into whether the company's capital allocation strategy is fundamentally misaligned with its current revenue-generating capacity.
According to historical data, NHTC's asset turnover has stagnated at 0.26, a figure that highlights the company's inability to efficiently utilize its asset base to drive revenue growth compared to historical performance levels observed in 2023.
The increase in days inventory outstanding to 78 days in 2026Q1 suggests a potential buildup of slow-moving wellness products, which may indicate weakening demand within the distributor network. Investors should monitor whether this inventory accumulation leads to future write-downs that could further impair the company's already fragile balance sheet.
Based on the latest quarterly filings, NHTC's current ratio has compressed to 2.00, which, while appearing adequate on the surface, masks the rapid depletion of cash reserves that are essential for sustaining operations in a high-churn direct-selling environment.
The reliance on a shrinking cash balance to fund ongoing operating losses suggests that the company's liquidity position is becoming increasingly vulnerable to external shocks. Without a meaningful reversal in distributor recruitment, the current liquidity profile may necessitate a pivot toward more conservative capital allocation to preserve remaining cash.
The most commonly misapplied metric for NHTC is the P/E ratio, which obscures the reality that the company functions as a sentiment-driven logistics network rather than a traditional retailer, making P/S or cash-based metrics more appropriate for assessing its true viability.
Using P/E ratios for a company with negative operating margins and a volatile distributor-based revenue model leads to misleading conclusions about its intrinsic value. Analysts should instead focus on the 'Active Member Count' and 'Free Cash Flow' to better understand the sustainability of the business model.
Includes 30+ ratios · 30 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying NHTC stock.
Natural Health Trends Corp.'s current P/E ratio is -24.5x. The historical average is 40.0x.
Natural Health Trends Corp.'s return on equity (ROE) is -3.1%. The historical average is 9.1%.
Based on historical data, Natural Health Trends Corp. is trading at a P/E of -24.5x. Compare with industry peers and growth rates for a complete picture.
Natural Health Trends Corp.'s current dividend yield is 42.61%.
Natural Health Trends Corp. has 73.5% gross margin and -4.5% operating margin.