Mannatech (MTEX) AI Stock Analysis

• Market Cap: $14.43M
• Dividend Yield: N/A
• Average Volume (3M): 20.34K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.48
• Revenue Growth: -9.17%
• EPS Growth: -4.64%
• Country: US
• Employees: 189
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Household & Personal Products
• EPS (TTM): 1.01
• Shares Outstanding: 1,900,930
• 10 Day Avg. Volume: 5,058
• 30 Day Avg. Volume: 20,342
• PEG Ratio: -0.05
• Price to Book (P/B): 2.94
• Price to Sales (P/S): 0.21
• P/FCF Ratio: 12.89
• Enterprise Value/Market Cap: 1.00
• Enterprise Value/Revenue: 0.13
• Enterprise Value/Gross Profit: 0.17
• Enterprise Value/Ebitda: 8.24
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $9.00 ▲(13.21% Upside)

The score is primarily weighed down by weak financial performance: declining revenue, negative margins/ROE, and negative operating and free cash flow. Technicals are only mildly supportive (price above key moving averages but negative MACD), while valuation is pressured by losses reflected in the negative P/E.

Positive Factors

High gross profit margin

A 75.7% gross margin signals durable product-level profitability and pricing power in supplements/skincare. High gross margins provide a buffer to absorb sales volatility and can fund marketing and product development if operating expenses are controlled over the medium term.

Manageable leverage

Debt-to-equity near 0.9 implies moderate leverage that preserves financial flexibility. This level allows the company to access debt financing for inventory, distributor support, or product investment without creating immediate solvency pressure, assuming cash flow can be stabilized.

Direct-selling (MLM) distribution

An established MLM direct-sales model creates recurring, community-driven demand and lower fixed retail costs. Durable distributor networks can sustain repeat purchases and organic growth if retention and recruitment economics remain healthy, advantaging margins over retail channels.

Negative Factors

Declining revenue trend

Sustained revenue declines shrink scale, increasing per-unit overhead and weakening distributor economics. Over several quarters, falling top line makes it harder to fund marketing and distributor incentives, undermining the long-term viability of a network-sales model.

Negative operating and free cash flow

Persistent negative operating and free cash flow erodes liquidity and forces reliance on external financing or asset sales. Over months, this limits reinvestment in product development and distributor support, increasing business risk and constraining strategic options.

Weak profitability and returns

Negative net margin and sharply negative ROE indicate the business is destroying shareholder value. Continued losses will deplete equity, raise funding needs, and may necessitate cost cuts or dilution, undermining long-term competitiveness and investor confidence.

Mannatech Business Overview & Revenue Model

Company Description

Mannatech, Incorporated operates as a health and wellness company worldwide. It develops, markets, and sells nutritional supplements; topical and skin care, and anti-aging products; and weight-management products. The company primarily sells its products directly, as well as through e-commerce and network marketing channels. Mannatech, Incorporated was founded in 1993 and is headquartered in Flower Mound, Texas.

How the Company Makes Money

Mannatech generates revenue primarily through the direct sales of its products by a network of independent distributors. The company utilizes a multi-level marketing (MLM) structure, where distributors earn commissions based on their sales and the sales made by their recruited downline. Key revenue streams include the sale of dietary supplements, skincare products, and personal care items. Additionally, Mannatech may engage in partnerships with various health and wellness organizations to enhance product visibility and reach. The company also benefits from its focus on product innovation and customer loyalty programs, which help sustain ongoing sales and repeat business.

Mannatech Financial Statement Overview

Summary

Revenue is declining (-2.27% TTM) with negative profitability (net margin -1.50%) and weak operating metrics (low EBIT/EBITDA margins). Leverage is manageable (debt-to-equity 0.87), but negative ROE (-22.75%) and negative operating/free cash flow signal elevated business and funding risk.

Income Statement

Mannatech's income statement shows a declining revenue trend with a negative revenue growth rate of -2.27% in the TTM period. The gross profit margin remains relatively strong at 75.69%, but the net profit margin is negative at -1.50%, indicating profitability challenges. The EBIT and EBITDA margins are also low, suggesting operational inefficiencies.

Balance Sheet

The balance sheet reveals a moderate debt-to-equity ratio of 0.87, indicating manageable leverage. However, the return on equity is negative at -22.75%, reflecting poor profitability relative to shareholder equity. The equity ratio is not provided, but the overall financial stability appears to be under pressure due to declining equity.

Cash Flow

Cash flow analysis shows a concerning trend with negative operating cash flow and free cash flow in the TTM period. Although there is a positive free cash flow growth rate of 28.81%, the operating cash flow to net income ratio is negative, highlighting cash flow challenges. The free cash flow to net income ratio is relatively high at 79.43%, indicating some efficiency in converting income to cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	110.41M	117.87M	131.96M	137.21M	159.76M	151.41M
Gross Profit	82.95M	91.46M	102.86M	102.52M	125.61M	113.91M
EBITDA	1.76M	5.55M	498.00K	3.02M	10.61M	9.66M
Net Income	-1.66M	2.49M	-2.24M	-4.49M	9.84M	6.26M
Balance Sheet
Total Assets	33.92M	36.06M	41.21M	49.13M	59.63M	65.33M
Cash, Cash Equivalents and Short-Term Investments	7.69M	11.40M	7.73M	13.78M	24.18M	22.21M
Total Debt	8.10M	6.69M	5.71M	6.21M	1.83M	2.83M
Total Liabilities	26.97M	27.44M	30.72M	34.95M	35.21M	39.36M
Stockholders Equity	6.95M	8.61M	10.48M	14.18M	24.41M	25.97M
Cash Flow
Free Cash Flow	-3.97M	1.96M	-3.12M	-3.66M	10.12M	5.08M
Operating Cash Flow	-2.89M	2.26M	-2.37M	-2.60M	10.77M	6.03M
Investing Cash Flow	-1.06M	-285.00K	-747.00K	-1.06M	-650.00K	-947.00K
Financing Cash Flow	-1.22M	1.96M	-1.90M	-4.33M	-9.29M	-9.92M

Mannatech Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 7.95
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MTEX, the sentiment is Negative. The current price of 7.95 is above the 20-day moving average (MA) of 7.70, below the 50-day MA of 8.34, and below the 200-day MA of 9.02, indicating a bearish trend. The MACD of -0.20 indicates Negative momentum. The RSI at 45.46 is Neutral, neither overbought nor oversold. The STOCH value of 65.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MTEX.

Mannatech Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
NUS	61 Neutral	$505.54M	4.77	14.55%	2.39%	-12.10%	―
EWCZ	61 Neutral	$214.18M	15.15	15.38%	―	-5.47%	13.42%
EPC	58 Neutral	$953.92M	38.27	1.62%	3.51%	-1.34%	-73.59%
TKLF	55 Neutral	$13.21M	2.03	16.79%	―	7.75%	-21.61%
SKIN	51 Neutral	$184.88M	-5.84	-18.73%	―	-13.14%	57.98%
MTEX	46 Neutral	$14.43M	-8.61	-19.54%	―	-9.17%	-4.64%