USANA Health (USNA) AI Stock Analysis

• Market Cap: $395.96M
• Dividend Yield: N/A
• Average Volume (3M): 173.43K
• Price to Earnings (P/E): 38.0
• Beta (1Y): 0.97
• 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: 18,280,857
• 10 Day Avg. Volume: 170,208
• 30 Day Avg. Volume: 173,431
• PEG Ratio: -0.48
• Price to Book (P/B): 1.28
• Price to Sales (P/S): 0.80
• P/FCF Ratio: 13.36
• Enterprise Value/Market Cap: 0.62
• Enterprise Value/Revenue: 0.27
• Enterprise Value/Gross Profit: 0.35
• Enterprise Value/Ebitda: 2.91
• 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: 56 Neutral
• Price Target: $20.50 ▼(-9.01% Downside)
• Action: Reiterated Date: 01/12/26
• Date: Action: Reiterated 01/12/26

USNA scores moderately, led by a very strong, low-risk balance sheet and solid TTM revenue growth, but weighed down by sharp profitability and cash flow deterioration. Technicals point to a weaker longer-term trend with neutral momentum, while valuation is middling for a business facing margin pressure. Recent commentary and the updated outlook are constructive on venture-brand growth and efficiency actions, but core softness and investment-driven margin tradeoffs keep the score in the mid-range.

Positive Factors

Conservative balance sheet

Extremely low leverage gives USANA meaningful financial flexibility to fund growth, weather shocks, and invest in venture brands without debt-service pressure. Over the next 2–6 months this supports capital allocation toward manufacturing, inventory and strategic priorities while limiting financial risk.

Sustained revenue growth

TTM revenue growth of about 15% indicates durable top-line momentum across core and venture segments driven by product launches and channel activity. Sustained revenue expansion provides scale to absorb fixed costs and underpins potential margin recovery if Brand Partner productivity stabilizes.

In-house manufacturing capability

Bringing Hiya and Rise Bar production in-house is a structural improvement that can lower COGS, shorten lead times, and reduce third-party dependency. Over months this should support more stable gross-margin realization for venture brands and better inventory management as volumes scale.

Negative Factors

Margin compression

Net margin decline to ~1.9% reflects that investments, the enhanced compensation plan, and other costs have materially eroded profitability. Persistently lower margins shrink retained earnings and constrain the firm’s ability to self-fund growth or absorb cyclical downturns without cutting investment or taking other actions.

Weakened cash generation

Lower operating and free cash flow reduces internal funding for inventory buildup, capex, and venture investments. With management increasing working capital for Hiya and Rise, weaker cash conversion elevates the risk that growth initiatives will require external financing or force tougher prioritization of capital uses.

Direct-selling execution risk

A decline in Hiya active customers tied to platform algorithm changes and softer Brand Partner productivity exposes a structural dependency on digital acquisition and distributor effectiveness. This makes customer growth and revenue more volatile and may require sustained investment to diversify channels and rebuild acquisition flows.

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 generates revenue primarily through the direct sale of its health and wellness products. The company utilizes a multi-level marketing (MLM) model, where independent distributors earn commissions not only on their own sales but also on the sales made by their recruits, thereby incentivizing recruitment and sales. Key revenue streams include the sale of nutritional supplements, personal care products, and weight management products. Additionally, USANA has established significant partnerships with various organizations and healthcare professionals to enhance brand credibility and expand its market reach. The company's focus on product innovation and science-backed formulations also plays a crucial role in driving customer loyalty and repeat purchases, contributing to its overall earnings.

USANA Health Financial Statement Overview

Summary

Revenue is up strongly TTM (~+15% YoY), and the balance sheet is a major strength with essentially no leverage (debt at 0). However, profitability has compressed materially (TTM net margin ~1.9% vs ~4.9% in 2024) and cash generation has weakened (lower operating cash flow and free cash flow vs 2024), keeping the financial performance score only moderate.

Income Statement

TTM (Trailing-Twelve-Months) revenue is up strongly versus the prior year (about +15%), but profitability has compressed materially: net margin fell to ~1.9% in TTM from ~4.9% in 2024, and operating profitability also stepped down. Gross margins remain very high and stable (~79–81%), but the multi-year trend shows shrinking operating and net profitability from 2020–2021 levels, which weighs on the score.

Balance Sheet

The balance sheet is conservatively positioned with essentially no leverage in TTM (total debt at 0 and debt-to-equity at 0), and equity remains substantial (~$528M). Returns on equity have come down sharply (TTM ~3.2% vs ~7.9% in 2024 and much higher in 2020–2022), but overall financial risk from debt is low, supporting a high score.

Cash Flow

Cash generation has weakened: TTM operating cash flow (~$31.5M) and free cash flow (~$18.7M) are down meaningfully versus 2024, and free cash flow growth is sharply negative. Cash conversion is also softer, with free cash flow running at ~59% of TTM net income (below prior years), indicating reduced cash efficiency despite still-positive free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	912.67M	854.50M	921.01M	998.60M	1.19B	1.13B
Gross Profit	694.67M	678.75M	731.62M	791.32M	955.53M	911.79M
EBITDA	83.93M	98.86M	123.11M	130.22M	192.89M	200.96M
Net Income	17.02M	42.03M	63.79M	69.35M	116.50M	124.66M
Balance Sheet
Total Assets	726.59M	748.19M	632.76M	596.55M	577.74M	640.89M
Cash, Cash Equivalents and Short-Term Investments	145.35M	181.77M	330.42M	288.42M	239.83M	312.88M
Total Debt	0.00	39.20M	13.21M	13.78M	17.30M	21.47M
Total Liabilities	145.04M	161.86M	135.56M	162.08M	182.62M	199.24M
Stockholders Equity	528.07M	532.11M	497.20M	434.47M	395.12M	441.65M
Cash Flow
Free Cash Flow	18.69M	50.92M	56.15M	93.50M	108.46M	145.31M
Operating Cash Flow	31.52M	60.99M	70.64M	103.90M	121.23M	160.40M
Investing Cash Flow	-216.37M	-213.09M	-11.97M	-12.37M	-14.19M	-33.96M
Financing Cash Flow	-31.13M	9.55M	-14.24M	-30.09M	-181.41M	-59.44M

USANA Health Technical Analysis

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

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For USNA, the sentiment is Positive. The current price of 22.53 is above the 20-day moving average (MA) of 21.11, above the 50-day MA of 20.77, and below the 200-day MA of 25.64, indicating a neutral trend. The MACD of 0.07 indicates Negative momentum. The RSI at 51.63 is Neutral, neither overbought nor oversold. The STOCH value of 76.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for USNA.

USANA Health Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NATR	80 Outperform	$473.25M	33.33	9.52%	―	6.62%	-7.85%
LWAY	69 Neutral	$331.83M	31.12	14.46%	―	12.14%	-17.80%
HLF	63 Neutral	$2.03B	8.76	―	―	-0.78%	265.56%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
USNA	56 Neutral	$395.96M	37.96	3.20%	―	5.88%	-68.62%
LFVN	56 Neutral	$57.95M	7.57	25.00%	2.81%	16.77%	143.30%
FTLF	55 Neutral	$141.81M	21.78	17.77%	―	12.44%	-20.33%

USANA Health Corporate Events

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.