USANA Health (USNA) AI Stock Analysis

• Market Cap: $316.35M
• Dividend Yield: N/A
• Average Volume (3M): 173.43K
• Price to Earnings (P/E): 33.6
• Beta (1Y): 1.06
• Revenue Growth: 5.88%
• EPS Growth: -68.62%
• Country: US
• Employees: 1,700
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): 0.60
• Shares Outstanding: 18,456,936
• 10 Day Avg. Volume: 170,208
• 30 Day Avg. Volume: 173,431
• PEG Ratio: -0.46
• Price to Book (P/B): 0.68
• Price to Sales (P/S): 0.39
• P/FCF Ratio: 42.35
• Enterprise Value/Market Cap: 0.53
• Enterprise Value/Revenue: 0.18
• Enterprise Value/Gross Profit: 0.23
• Enterprise Value/Ebitda: 1.78
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 1.84
• Revenue Forecast (FY): $956.18M

• Rating: 53 Neutral
• Price Target: $18.00 ▼(-20.11% Downside)
• Action: Reiterated Date: 03/17/26
• Date: Action: Reiterated 03/17/26

USNA scores below average primarily due to weakened cash flow and sharply lower profitability despite a strong, low-leverage balance sheet. Technicals add downside pressure with the stock trading below major moving averages and negative momentum. Guidance and retail expansion plans provide some offset, but elevated inventory, margin mix pressure, and high tax-rate guidance constrain the overall score.

Positive Factors

Balance sheet strength

USANA’s very low leverage and large equity base provide durable financial flexibility. With debt-to-equity near 2.6%, the company can fund retail rollouts, working-capital needs, or technology investments without stressing solvency, cushioning execution risk during a multi-quarter turnaround.

Retail and distribution expansion

Major retail placements (Target, Costco, Canada/U.K.) materially diversify USANA’s go-to-market beyond direct selling. Durable omnichannel distribution can scale branded venture revenue, improve brand awareness, and provide repeatable retail demand that supports multi-quarter revenue growth and reduces single-channel concentration risk.

Experienced leadership and strategic refocus

The return of a prior CEO with a record of expansion brings operational continuity and execution credibility. A clear strategic agenda—omnichannel push, product pipeline, tech modernization—plus announced cost realignment demonstrates focused management alignment to restore growth and margins over the medium term.

Negative Factors

Weak cash generation

Material FCF erosion and weaker cash conversion reduce financial optionality. With FCF covering only ~38% of net income and a 54% YoY decline, the company has less internal capital to fund inventory builds, retail execution, tech investments, or shareholder returns without increasing external financing or diluting flexibility.

Elevated inventory and working-capital risk

A 48% inventory build to support retail launches ties up capital and raises obsolescence and execution risk. Sustained elevated stock levels can depress cash conversion and returns if retail sell-through lags, increasing financing needs and pressuring margins during the multi-quarter expansion phase.

Very high effective tax-rate guidance

A 55–60% effective tax rate materially compresses net income even if sales rise. This fiscal-year structural tax burden reduces cash available for reinvestment, cuts through return-on-equity, and limits the earnings leverage from the company’s retail and venture-brand growth initiatives across the next several quarters.

USANA Health Business Overview & Revenue Model

Company Description

USANA Health Sciences, Inc. develops, manufactures, and sells science-based nutritional and personal care products. The company offers USANA nutritional products that comprise essentials/CellSentials, such as vitamin and mineral supplements that provide a foundation of total body nutrition for various age groups; optimizers comprising targeted supplements that are designed to meet cardiovascular, skeletal/structural, and digestive health needs; and foods that include meal replacement shakes, snack bars, and other related products. It also provides Celavive, a skin care regimen for various skin care types and ethnicities; and other products for prenatal, infant, and young child age groups. In addition, the company offers materials and online tools to assist associates in building their businesses, as well as in marketing products. It offers its products directly in the Asia Pacific, the Americas, and Europe, as well as online. The company has a research collaboration agreement with Beijing University of Chinese Medicine for research in the field of traditional Chinese medicine; and National Sports Training Bureau. USANA Health Sciences, Inc. was founded in 1992 and is headquartered in Salt Lake City, Utah.

How the Company Makes Money

USANA primarily makes money by selling health and wellness products—most notably dietary supplements and personal care items—through a direct-selling network. Revenue is generated when products are purchased by end customers and/or by the company’s independent distributors/associates (who may buy for personal use and/or for resale, depending on local rules and company policies). The company also pays commissions and incentives to its distributor/associate network based on product sales volume under its compensation plan; these payouts are recorded as selling expenses, while the product sales are recorded as net sales revenue. Key revenue streams therefore include (1) product sales of nutritional supplements and (2) product sales of personal care/other wellness products, with sales occurring across various geographic markets and channels managed through its direct-selling infrastructure (e.g., recurring orders/auto-ship programs where offered). Information about any specific, material third-party partnerships that materially drive earnings is null.

USANA Health Financial Statement Overview

Summary

Financials are mixed: a strong, low-leverage balance sheet (very low debt-to-equity) supports stability, but profitability has deteriorated sharply (net margin ~1.2% vs ~4.9% in 2024) and cash generation weakened materially in the latest period (free cash flow down ~54% YoY with low cash conversion).

Income Statement

Revenue rebounded in 2026 (annual report) to $925M after several down years, but profitability has deteriorated sharply: net margin fell to ~1.2% from ~4.9% in 2024 and ~6.9% in 2022–2023. While gross margin remains very strong (~78–81%), operating margins have compressed materially versus 2020–2023 levels, indicating higher costs and weaker operating leverage.

Balance Sheet

The balance sheet is a clear strength, with very low leverage (debt-to-equity ~2.6% in 2026 vs ~7.4% in 2024) and a large equity base relative to assets. However, returns on equity have stepped down significantly (to ~2.0% in 2026 from ~7.9% in 2024 and much higher levels in 2020–2022), reflecting weaker earnings power rather than balance-sheet risk.

Cash Flow

Cash generation weakened notably in 2026: operating cash flow dropped to ~$22M and free cash flow to ~$8.5M, with free cash flow down ~54% year over year. Free cash flow also covered less of net income (~38%), and operating cash flow relative to net income is low in the latest period, pointing to reduced cash conversion and higher volatility versus 2020–2024.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	925.26M	854.50M	921.01M	998.60M	1.19B
Gross Profit	724.40M	678.75M	731.62M	791.32M	955.53M
EBITDA	90.56M	98.86M	123.11M	130.22M	192.89M
Net Income	10.76M	42.03M	63.79M	69.35M	116.50M
Balance Sheet
Total Assets	742.91M	748.19M	632.76M	596.55M	577.74M
Cash, Cash Equivalents and Short-Term Investments	158.38M	181.77M	330.42M	288.42M	239.83M
Total Debt	14.00M	39.20M	13.21M	13.78M	17.30M
Total Liabilities	156.64M	161.86M	135.56M	162.08M	182.62M
Stockholders Equity	533.10M	532.11M	497.20M	434.47M	395.12M
Cash Flow
Free Cash Flow	8.53M	50.92M	56.15M	93.50M	108.46M
Operating Cash Flow	22.35M	60.99M	70.64M	103.90M	121.23M
Investing Cash Flow	-10.13M	-213.09M	-11.97M	-12.37M	-14.19M
Financing Cash Flow	-40.60M	9.55M	-14.24M	-30.09M	-181.41M

USANA Health Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 22.53
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For USNA, the sentiment is Negative. The current price of 22.53 is above the 20-day moving average (MA) of 19.05, above the 50-day MA of 20.30, and below the 200-day MA of 24.72, indicating a bearish trend. The MACD of -0.98 indicates Positive momentum. The RSI at 31.52 is Neutral, neither overbought nor oversold. The STOCH value of 31.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for USNA.

USANA Health Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LWAY	64 Neutral	$270.12M	26.57	17.25%	―	12.14%	-17.80%
HLF	63 Neutral	$1.54B	5.80	-36.19%	―	-0.78%	265.56%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
NATR	61 Neutral	$420.53M	19.90	12.18%	―	6.62%	-7.85%
LFVN	56 Neutral	$60.51M	70.54	24.97%	2.81%	16.77%	143.30%
FTLF	55 Neutral	$123.77M	50.70	17.12%	―	12.44%	-20.33%
USNA	53 Neutral	$316.35M	33.56	2.03%	―	5.88%	-68.62%

USANA Health Corporate Events

USANA Health Reports Mixed Q4 Results Amid Customer Declines

USANA Health Sciences reported that for the fourth quarter ended Jan. 3, 2026, net sales rose 6% year over year to $226 million, but the company swung to a net loss of $1.8 million, or $0.10 per diluted share, as active customers in its core nutritional segment fell to 387,000 from 454,000. Adjusted diluted EPS slipped 6% to $0.60, while adjusted EBITDA rose 7% to $27 million, with management citing early stabilization in core customer counts and modest sequential sales gains in mainland China, the U.S. and Canada.

For full-year 2025, net sales increased 8% to $925 million, driven mainly by a full-year contribution from Hiya, but net earnings dropped 74% to $10.8 million and adjusted EPS fell 25% as core nutritional sales declined 8% amid tougher customer acquisition. The company highlighted rapid growth at Rise Wellness, with sales tripling off a small 2024 base and non-core brands rising to 16% of total revenue, and guided for flat to mid-single-digit net sales growth and higher earnings in fiscal 2026 as omnichannel brands are expected to exceed 20% of consolidated sales.

The most recent analyst rating on (USNA) stock is a Hold with a $24.00 price target. To see the full list of analyst forecasts on USANA Health stock, see the USNA Stock Forecast page.

USANA Health Issues Updated 2025-2026 Sales Outlook

On January 12, 2026, USANA Health Sciences announced that it expects fiscal 2025 consolidated net sales of about $925 million, modestly above its prior guidance of roughly $920 million, and issued an initial fiscal 2026 net sales outlook of $925 million to $1.0 billion ahead of its presentation at the 28th Annual ICR Conference in Orlando. The 2026 outlook assumes softer revenue in the core USANA nutritional business, with projected sales of $720 million to $765 million versus about $777 million in 2025, partially offset by anticipated growth at Hiya, which is forecast to rise to $140 million to $155 million from around $132 million, and at Rise Wellness, which is expected to accelerate sharply to $65 million to $80 million from approximately $16 million in 2025, even as the company invests heavily in inventory, capital expenditures and working capital and accepts breakeven operating margins at Rise Wellness to support early-stage expansion; management plans to update investors further when it reports fourth-quarter and full-year 2025 results on February 17, 2026, followed by an analyst conference call on February 18.

The most recent analyst rating on (USNA) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on USANA Health stock, see the USNA Stock Forecast page.

USANA Health Sciences announces CEO leadership transition

On January 8, 2026, USANA Health Sciences announced a leadership transition in which Jim Brown stepped down as chief executive officer and president after three years in the top role and 19 years with the company, remaining in an advisory position at the board’s discretion. Effective the same day, Executive Chairman Kevin Guest, who previously served as CEO from 2015 to 2023 and oversaw a period of global expansion and record results, returned to the chief executive role while retaining his chairmanship, a move the board framed as a bid to accelerate strategic priorities, support long-term growth and leverage his deep relationships with USANA’s sales force and management team; terms of Brown’s separation and Guest’s new compensation package have yet to be finalized by the compensation committee.

The most recent analyst rating on (USNA) stock is a Hold with a $20.50 price target. To see the full list of analyst forecasts on USANA Health stock, see the USNA Stock Forecast page.