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NHTCNatural Health Trends Corp.
$1.88$21M
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  4. Financial Ratios

Natural Health Trends Corp. (NHTC) Financial Ratios

Latest Ratios: P/E Ratio -24.5x · EV/EBITDA N/A · ROE -3.1%. (1996–2025 historical series)

Income StatementBalance SheetCash FlowRatios
AnnualQuarterly

NHTC Valuation Multiples

Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 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—92.77118.15125.1871.1667.48—6.757.275.14
P/S Ratio0.530.891.241.530.801.290.920.751.090.870.99
P/B Ratio0.921.521.611.610.781.300.840.782.331.893.44
P/FCF—————97.6333.99—7.096.505.42
P/OCF—————76.0130.18—7.046.435.33

P/E links to full P/E history page with 30-year chart

NHTC EV Ratios

Enterprise-value multiples — capital-structure-neutral measures of total business value

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
EV / Revenue—0.800.980.33-0.54-0.06-0.51-0.440.400.180.55
EV / EBITDA—————-1.84-29.23—2.240.822.44
EV / EBIT—————-2.20-47.14—2.220.832.46
EV / FCF—————-4.36-18.84—2.601.363.01

NHTC Profitability

Margins and return-on-capital ratios measuring operating efficiency

Margins

Full margin charts and quarterly trend are on the Earnings History page

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Gross Margin73.5%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%

Return on Capital

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 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%

NHTC Leverage & Debt

Solvency and debt-coverage ratios — lower is generally safer

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Debt / Equity0.130.130.080.080.080.050.060.04———
Debt / EBITDA—————1.693.65————
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)

NHTC Liquidity & Efficiency

Short-term solvency ratios and asset-utilisation metrics

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Current Ratio2.502.502.453.213.793.794.644.123.493.612.47
Quick Ratio2.352.352.293.003.573.584.463.883.203.412.27
Cash Ratio2.112.112.112.813.413.404.293.653.083.232.20
Asset Turnover—1.040.780.640.590.610.590.651.221.241.94
Inventory Turnover5.145.143.422.602.802.864.503.143.244.604.88
Days Sales Outstanding———————————

NHTC Shareholder Yields

Earnings, FCF, buyback, and dividend yields — total returns to shareholders

Dividends

Full dividend history and growth charts are on the Dividend History page

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Dividend Yield42.6%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%

Total Shareholder Return Metrics

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 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 Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%17.3%0.0%0.0%8.4%
Total Shareholder Yield42.6%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

Key Metrics

Growth RegimeContracting
ProfitabilityNegative
Balance SheetVulnerable
Cash FlowBurning
Top Statement Risk

Rapid liquidity depletion risk

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q1)

Distressed Valuation Amidst Shrinking Scale

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.

Capital Efficiency Decay and Erosion

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.

Working Capital Inefficiency and Turnover

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.

Liquidity Buffer Nearing Critical Threshold

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.

Misapplication of Traditional Retail Multiples

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.

Download Financial Ratios Data

Includes 30+ ratios · 30 years · Updated daily

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NHTC — Frequently Asked Questions

Quick answers to the most common questions about buying NHTC stock.

What is Natural Health Trends Corp.'s P/E ratio?

Natural Health Trends Corp.'s current P/E ratio is -24.5x. The historical average is 40.0x.

What is Natural Health Trends Corp.'s ROE?

Natural Health Trends Corp.'s return on equity (ROE) is -3.1%. The historical average is 9.1%.

Is NHTC stock overvalued?

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.

What is Natural Health Trends Corp.'s dividend yield?

Natural Health Trends Corp.'s current dividend yield is 42.61%.

What are Natural Health Trends Corp.'s profit margins?

Natural Health Trends Corp. has 73.5% gross margin and -4.5% operating margin.