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Nu Skin Enterprises (NUS)
NYSE:NUS
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Nu Skin
(NYSE:NUS)
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Rating:55Neutral
Price Target:
$7.50
▼(-27.95% Downside)
Action:ReiteratedDate:03/10/26
The score is held back primarily by weak multi-year revenue trends and bearish technicals (price below major moving averages with negative momentum). Offsetting factors include very low valuation (low P/E and solid dividend yield) and improved 2025 execution, though 2026 guidance and initiative monetization timing risks limit the upside.
Positive Factors
Improved balance sheet and net cash position
Leverage has come down materially and the company finished 2025 with a net cash position and roughly $240M of cash. This stronger balance sheet provides durable financial flexibility to fund Prism IO rollouts, invest in India/local manufacturing, sustain buybacks/dividends, and absorb distributor volatility without immediate refinancing risk.
High and expanding core gross margins
Core gross margins are unusually high for the category and improved in 2025, reflecting product mix and cost structure advantages in direct selling. Sustained gross margin strength supports long-term profitability even with top-line pressure, enabling investment in R&D, marketing and subscription economics tied to device placements.
Prism IO data asset and subscription potential
Prism IO builds a large wellness data asset and a device+subscription model that can create recurring revenue and higher customer lifetime value. If adoption scales, the data and device ecosystem could form a differentiated, structural revenue stream and a competitive moat around personalized wellness offerings.
Negative Factors
Multi-year revenue decline
Top-line has contracted materially over multiple years, eroding scale and likely reducing contributor and distributor activity. Persistently shrinking revenue undermines long-term fixed-cost absorption, limits R&D/marketing reinvestment capacity, and makes sustained margin recovery harder without a credible growth inflection.
Weak cash conversion and falling free cash flow
Although profitable in 2025, operating cash flow and free cash flow lagged earnings, indicating working-capital drag or earnings quality issues. Subpar cash conversion reduces the durability of earnings improvements, constrains reinvestment and shareholder returns, and raises vulnerability if revenue weakens again.
Execution and monetization uncertainty for Prism IO and India
Key strategic initiatives (Prism IO rollout and India expansion) are structurally important but early and uncertain. Lack of conversion metrics, regulatory/import hurdles and longer sales cycles in India create execution risk that may delay recurring revenue benefits and pressure near- to medium-term top-line and profitability assumptions.
Nu Skin (NUS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$354.69M
Dividend Yield2.39%
Average Volume (3M)587.97K
Price to Earnings (P/E)3.0
Beta (1Y)1.14
Revenue Growth-12.10%
EPS GrowthN/A
CountryUS
Employees3,100
SectorConsumer Defensive
Sector Strength42
IndustryHousehold & Personal Products
Share Statistics
EPS (TTM)0.29
Shares Outstanding48,126,823
10 Day Avg. Volume578,850
30 Day Avg. Volume587,967
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)0.59
Price to Sales (P/S)0.32
P/FCF Ratio10.31
Enterprise Value/Market Cap1.35
Enterprise Value/Revenue0.32
Enterprise Value/Gross Profit0.46
Enterprise Value/Ebitda1.81
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.42
Revenue Forecast (FY)$1.53B
Nu Skin Business Overview & Revenue Model
Company DescriptionNu Skin Enterprises, Inc. develops and distributes beauty and wellness products worldwide. It provides skin care systems, including ageLOC Spa systems, ageLOC Transformation anti-aging skin care systems, and ageLOC LumiSpa skin treatment and cleansing devices; and ageLOC Boost, as well as a range of other cosmetic and personal care products. The company also offers ageLOC Youth nutritional supplements, ageLOC TR90 weight management and body shaping systems, LifePak nutritional supplements, ageLOC Meta nutritional supplements, and Beauty Focus Collagen+ skin care supplements, as well as other weight management products. In addition, it is involved in the research and product development of skin care products and nutritional supplements. Further, the company operates retail stores and service centers in Mainland China. It sells its products under the Nu Skin, Pharmanex, and ageLOC brands. The company promotes and sells its products directly, as well as through distributors and Website. Nu Skin Enterprises, Inc. was founded in 1984 and is headquartered in Provo, Utah.
How the Company Makes MoneyNu Skin generates revenue primarily through the sale of its personal care and nutritional products. The company employs a direct selling model, where independent distributors earn commissions on their sales and the sales made by their recruited team members. This multi-level marketing structure allows Nu Skin to expand its market reach while incentivizing distributors to promote and sell products. Key revenue streams include skincare products, dietary supplements, and wellness devices. Additionally, Nu Skin invests in technological advancements and maintains partnerships with research institutions, enhancing its product offerings and brand credibility, which further contribute to its earnings.
Nu Skin Earnings Call Summary
Earnings Call Date:Feb 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
The call highlights meaningful operational and financial improvements in 2025—notably strong adjusted EPS growth (~51%), gross margin expansion in the core business, improved operating margin, a healthier balance sheet, and sizeable strategic initiatives (Prism IO data assets and India entry). However, near-term headwinds include conservative 2026 revenue/EPS guidance, Q4 consolidated gross margin softness, FX impacts, a higher expected tax rate, and uncertainty around monetization timing for Prism IO and India ramp. Taken together, management demonstrated improved profitability and strategic positioning while acknowledging execution and timing risks that temper near-term top-line visibility.Q4-2025 Updates
Positive Updates
Adjusted Earnings Per Share Growth
Adjusted EPS for full-year 2025 was $1.27 versus $0.84 in 2024, representing approximately 51% growth driven by gross margin expansion, selling expense optimization, and disciplined G&A management.
Revenue Delivered Within Guidance
Full-year 2025 revenue was $1,490,000,000 and Q4 revenue was $370,000,000, both landing inside management's guidance ranges.
Core Gross Margin Expansion
Core Nu Skin gross margin finished 2025 at 77.4%, an improvement of ~80 basis points year over year; core Nu Skin Q4 gross margin was 77.6%, up 100 basis points versus the prior year.
Operating Margin and Expense Discipline
Adjusted operating margin improved to 6.7% for the year, up 140 basis points year over year. Q4 operating margin was 6.3%. Selling expense for the quarter improved to 35.5% from 37.1% a year ago (down ~160 basis points).
Strengthened Balance Sheet and Cash Flow
Ended Q4 with approximately $240,000,000 in cash and reduced outstanding debt to $224,000,000 (net cash position). Cash flow from operations for the year was $80,300,000.
Capital Return to Shareholders
Returned capital during the year including ~$11,000,000 in dividends and $20,000,000 in share repurchases; $142,300,000 of repurchase authorization remains.
Prism IO and Large Data Asset
Built a substantial intelligent-wellness data asset (nearly 400,000,000 carotenoid data points from 21,000,000 scans of >10,000,000 people and over 1,000,000,000 IoT-derived data points overall). Prism IO introduced late 2025 with a target to place >100,000 devices in 2026 and an aspiration to reach 10,000,000 households by 2030.
Emerging Market Momentum and Strategic Growth Initiatives
Continued momentum in Latin America and initiation of premarket operations in India (started mid-November) as part of a broader strategy to expand into high-potential emerging markets and scale RISE manufacturing capabilities.
Negative Updates
Top-Line Pressure and Conservative 2026 Guidance
2026 revenue guidance is $1,350,000,000 to $1,500,000,000 (includes estimated FX headwind of ~$13–15M), with EPS projected at $0.80 to $1.20 versus $1.27 in 2025—reflecting conservative expectations and uneven near-term growth visibility.
Q4 Consolidated Gross Margin Decline
Consolidated gross margin for Q4 was 70.7%, down from 71.4% a year ago (a decline of ~70 basis points), driven by revenue mix between RISE entities and Nu Skin segments and seasonal promotional activity.
Higher Expected Tax Rate Reduces EPS
2025 benefited from an R&D tax credit (reported effective tax rate of 18.8%). Management expects a ~35% tax rate in 2026, which is a below-the-line headwind that lowers projected EPS despite operating improvements.
Foreign Currency Headwinds
Foreign exchange was a headwind of approximately $1,000,000 in Q4 and ~$13,400,000 for full-year 2025; 2026 guidance assumes an FX headwind of ~$13–15,000,000 (~1%).
Uncertainty Around Prism IO Monetization
Prism IO is early-stage (one month into placements at time of call). Management provided device placement targets (>100,000 in 2026) but did not provide specific subscription conversion metrics or revenue contribution estimates, leaving monetization uncertainty.
India Market Execution Risks and Longer Sales Cycles
India premarket activity faces structural hurdles (high import duties, need for local manufacturing, logistics and digital infrastructure), and management noted Indian consumers are 'financially conservative' leading to longer sales and activation cycles; revenue contribution for 2026 was conservatively forecasted.
Persistently High Core Selling Expense
Core Nu Skin selling expense remains elevated (~40.3% for the year; Q4 core selling expense 40.8%), and management expects selling expense to remain around 40% as they drive compensation plan adoption—limiting near-term operating leverage.
Seasonality and Near-Term Earnings Volatility
Q1 2026 is expected to be the lowest quarter seasonally with projected EPS of $0.10–$0.20, reflecting quarter-to-quarter volatility and the timing of product launches (Prism IO placement and consumer availability expected to drive back-half strength).
Company Guidance
Nu Skin guided 2026 revenue of $1.35B–$1.50B (including an estimated $13M–$15M FX headwind, ~1%), with adjusted EPS of $0.80–$1.20 assuming a ~35% tax rate; they forecast Q1 revenue of $320M–$340M and Q1 EPS of $0.10–$0.20 (Q1 seasonally lowest), expect stronger back-half (Q3–Q4) contribution tied to the full consumer Prism IO launch, and target placing >100,000 Prism IO devices by year-end 2026 (management noted ~ $300/device ≈ $30M of device revenue potential) with subscription revenue driving >6x customer lifetime value and an aspiration to reach 10M households by 2030; 2025 anchors the outlook — revenue $1.49B, adjusted EPS $1.27 (≈51% YoY improvement), core gross margin 77.4% (up 80 bps), Q4 core gross margin 77.6% (up 100 bps), adjusted operating margin 6.7% (up 140 bps), Q4 revenue $370M and EPS $0.29, cash ≈ $240M, debt $224M (net cash position), operating cash flow $80.3M, $11M dividends, $20M buybacks (with $142.3M remaining authorization), and a 2025 R&D tax credit that lowered tax expense by ~$8.1M (2025 effective tax rate 18.8%).Nu Skin Financial Statement Overview
Summary
Financials are mixed: revenue has declined materially over multiple years, and operating profitability has been uneven (including a loss in 2024). Offsetting this, 2025 showed a notable rebound in profitability with strong gross margins and improved leverage (debt-to-equity down to ~0.35) plus a net cash position, though cash conversion remains weaker than the earnings rebound (FCF down in 2025 and relatively low OCF-to-net-income).Income Statement
Revenue has been in a multi-year decline (down from ~$2.58B in 2020 to ~$1.49B in 2025), indicating weakening demand/scale. Profitability is volatile: 2024 posted a sizable loss, while 2025 rebounded to a solid net profit margin (~10.8%) with strong gross margin (~69%), but operating profitability has been inconsistent (including negative EBIT in 2024). Overall, margins are supported at the gross level, yet earnings stability and top-line trajectory remain key concerns.44
Neutral
Balance Sheet
Leverage looks manageable and has improved meaningfully: debt-to-equity decreased from ~0.73–0.74 (2023–2024) to ~0.35 in 2025, and equity increased versus 2024. Returns also swung sharply positive in 2025 (return on equity ~19.9%) after a negative 2024, suggesting recovery. The main weakness is the recent history of profitability pressure (which can quickly erode equity), but the current balance sheet positioning is comparatively healthier.63
Positive
Cash Flow
Cash generation is positive, with operating cash flow consistently above zero across the period and free cash flow also positive; however, free cash flow declined in 2025 (growth ~-13.8%). Cash conversion is mixed: free cash flow is only about ~57% of net income in 2025, and operating cash flow relative to net income remains low (roughly ~0.30–0.38 in recent years), implying earnings quality/working-capital drag. The company is not cash-strapped, but cash flow strength does not fully match the earnings rebound.52
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.49B | 1.73B | 1.97B | 2.23B | 2.70B |
| Gross Profit | 1.03B | 1.18B | 1.36B | 1.59B | 2.02B |
| EBITDA | 143.14M | -78.83M | 202.98M | 174.97M | 368.48M |
| Net Income | 160.20M | -146.59M | 8.60M | 104.78M | 147.27M |
Balance Sheet | |||||
| Total Assets | 1.41B | 1.47B | 1.81B | 1.82B | 1.91B |
| Cash, Cash Equivalents and Short-Term Investments | 239.84M | 197.99M | 267.82M | 278.51M | 354.81M |
| Total Debt | 364.25M | 478.23M | 607.33M | 520.52M | 503.79M |
| Total Liabilities | 600.07M | 817.46M | 984.50M | 923.67M | 993.71M |
| Stockholders Equity | 805.24M | 651.46M | 821.97M | 897.30M | 912.77M |
Cash Flow | |||||
| Free Cash Flow | 46.01M | 70.16M | 60.15M | 49.01M | 72.97M |
| Operating Cash Flow | 80.29M | 111.74M | 118.64M | 108.06M | 141.58M |
| Investing Cash Flow | 170.66M | -37.96M | -134.50M | -67.08M | -88.73M |
| Financing Cash Flow | -202.40M | -133.18M | 10.73M | -99.50M | -104.70M |
Nu Skin Technical Analysis
Negative
10.41
Price Trends
9.61
Negative
9.87
Negative
9.80
Negative
Market Momentum
-0.66
Positive
25.37
Positive
22.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NUS, the sentiment is Negative. The current price of 10.41 is above the 20-day moving average (MA) of 8.43, above the 50-day MA of 9.61, and above the 200-day MA of 9.80, indicating a bearish trend. The MACD of -0.66 indicates Positive momentum. The RSI at 25.37 is Positive, neither overbought nor oversold. The STOCH value of 22.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NUS.
Nu Skin Risk Analysis
Nu Skin disclosed 12 risk factors in its most recent earnings report. Nu Skin reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Nu Skin Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $4.75B | 28.63 | 10.75% | ― | 13.80% | -25.02% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
55 Neutral | $354.69M | 2.96 | 20.36% | 2.39% | -12.10% | ― | |
55 Neutral | $34.10B | 58.52 | -4.41% | 1.30% | -6.36% | -554.84% | |
52 Neutral | $963.30M | -3.02 | 1.62% | 3.51% | -1.34% | -73.59% | |
51 Neutral | $2.05B | -5.46 | -14.49% | ― | -5.68% | -358.36% | |
51 Neutral | $144.08M | -5.72 | -19.78% | ― | -13.14% | 57.98% |
* Consumer Defensive Sector Average
NUS
Nu Skin
7.37
-0.26
-3.37%
EL
The Estée Lauder Companies
94.27
28.87
44.15%
COTY
Coty
2.33
-3.19
-57.79%
EPC
Edgewell Personal Care
20.62
-9.34
-31.17%
ELF
e.l.f. Beauty
80.49
12.28
18.00%
SKIN
Beauty Health
1.13
-0.29
-20.42%
Nu Skin Corporate Events
Business Operations and StrategyExecutive/Board Changes
Nu Skin Names Chayce Clark Chief Operating Officer
Positive
Mar 9, 2026
On March 5, 2026, Nu Skin’s board appointed longtime legal executive Chayce D. Clark as executive vice president, chief operating officer and chief legal officer, a move formalized in a March 9, 2026 announcement. Clark, who joined the company in 2015 and has served as executive vice president and general counsel since 2021, will receive a $650,000 base salary, a 75% target annual bonus and a 2026 equity package split between time-based and performance-based restricted stock units tied to earnings per share through 2028.
Effective immediately, Clark’s expanded remit places him in charge of global revenue performance and end-to-end operational execution, including oversight of Nu Skin’s global sales channel, product innovation, technology platforms, programs, brand initiatives and legal services. The company expects the new structure to drive tighter coordination across its nearly 50 markets and sharpen execution around major growth initiatives, notably the Prysm iO intelligent wellness platform rollout and its expansion into India under its emerging market strategy.
The most recent analyst rating on (NUS) stock is a Hold with a $10.50 price target. To see the full list of analyst forecasts on Nu Skin stock, see the NUS Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.