HERBALIFE LTD.

Listed Company

HLFCIK 0001180262NYSELarge AcceleratedWholesale-Drugs, Proprietaries & Druggists' SundriesE9FY ends Dec 31

Period

FY 2025

Revenue

$5.04B

Net Income

$228.30M

Total Assets

$2.79B

Equity

$-515.10M

Shares Out

103.37M

Op. Cash Flow

$333.30M

Business

HERBALIFE LTD. is a global health and wellness company that develops, manufactures and markets nutrition products and supports independent Members who sell and coach customers through a direct-selling network. It offers weight management meal replacements and supplements, targeted nutrition and functional beverages, energy and sports nutrition products, outer nutrition personal care items, and sales and promotional literature. The company operates a network marketing program that segments Members into consumers and distributors and maintains specialized operations for China. It distributes products through independent Members, online platforms, company-operated and third-party distribution centers, partner retail pickup points, and select Company retail locations.

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	5,038	4,993	5,062	5,204	5,803
Cost of sales	1,115	1,104	1,191	1,174	1,239
Gross profit	3,923	3,889	3,871	4,031	4,564
Selling expenses	1,782	1,783	1,824	—	—
General and administrative expenses	1,664	1,726	1,701	—	—
Other operating income	−5	−6	−10	−15	−16
Operating income	481	386	356	545	734
Interest expense	214	218	166	139	153
Interest income	9	12	12	6	4
Other expense (income), net	0	11	−1	−13	25
Income before income taxes	275	169	203	425	561
Income taxes	47	−85	61	104	114
Net Income	228	254	142	—	—
Net loss attributable to noncontrolling interest	−500,000	0	0	—	—
Net income attributable to Herbalife	228	254	142	321	447
Basic (per share)	2.22	2.53	1.44	3.26	4.22
Diluted (per share)	2.2	2.5	1.42	3.23	4.13
Basic (shares)	103	101	99	99	106
Diluted (shares)	104	102	100	100	108

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	353	415	575	508	602
Receivables, net of allowance for doubtful accounts	92	69	81	71	67
Inventories	512	475	505	581	576
Prepaid expenses and other current assets	188	184	238	197	188
Total current assets	1,145	1,144	1,399	1,356	1,432
Property, plant, and equipment, at cost, net of accumulated depreciation and amortization	448	460	507	486	442
Operating lease right-of-use assets	168	186	186	207	220
Marketing-related intangibles and other intangible assets, net	315	312	314	316	317
Goodwill	101	88	95	93	95
Deferred income tax assets	464	399	179	—	—
Other assets	145	140	129	274	313
Total assets	2,786	2,728	2,809	2,732	2,820
Accounts payable	100	70	84	90	92
Member compensation liabilities	402	360	—	—	—
Current portion of long-term debt	21	284	310	30	29
Other current liabilities	490	517	541	514	596
Total current liabilities	1,013	1,230	1,278	977	1,080
Long-term debt, net of current portion	1,972	1,977	2,253	2,663	2,733
Non-current operating lease liabilities	156	170	168	192	201
Other non-current liabilities	155	153	172	166	197
Total liabilities	3,295	3,529	3,870	3,998	4,211
Commitments and contingencies	—	—	—	—	—
Common shares, $0.0005 par value; 2.0 billion shares authorized; 103.3 million (2025) and 101.2 million (2024) shares outstanding	100,000	100,000	100,000	100,000	100,000
Paid-in capital in excess of par value	316	278	234	189	318
Accumulated other comprehensive loss	−252	−271	−232	−250	−212
Accumulated deficit	−580	−808	−1,062	−1,205	−1,169
Total Herbalife shareholders' deficit	−515	−801	−1,060	−1,266	−1,392
Noncontrolling interest	6	0	—	—	—
Total shareholders' deficit	−509	−801	−1,060	−1,266	—
Total liabilities and shareholders' deficit	2,786	2,728	2,809	2,732	2,820

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	121	121	113	115	108
Share-based compensation expenses	44	50	48	44	54
Non-cash interest expense	16	13	7	7	30
Deferred income taxes	−64	−230	−41	−30	−33
Inventory write-downs	26	19	29	38	29
Foreign exchange transaction loss	800,000	8	6	9	14
Loss (Gain) on extinguishment of debt	0	11	−1	−13	25
Other	−3	6	7	−17	5
Receivables	−20	6	−13	−9	10
Inventories	−28	−30	58	−68	−129
Prepaid expenses and other current assets	13	43	−14	−12	−49
Accounts payable	24	−15	−7	−1	7
Member compensation liabilities	24	7	−7	—	—
Other current liabilities	−36	45	25	−54	−69
Other	−12	−23	7	31	−5
Net cash provided by operating activities	333	285	358	353	460
Purchases of property, plant, and equipment	−80	−122	−135	−156	−151
Acquisitions of business and assets	−26	0	0	—	—
Proceeds from sale and leaseback transaction, net of related expenses	0	38	0	0	—
Other	−3	−500,000	200,000	200,000	−5
Net cash used in investing activities	−109	−85	−135	−156	−156
Borrowings from senior secured credit facility and other debt, net of discount	725	1,394	215	564	671
Principal payments on senior secured credit facility and other debt	−747	−1,937	−290	−684	−564
Repayment of convertible senior notes	0	−197	−64	−273	0
Proceeds from senior secured notes, net of discount	0	778	0	0	—
Repayment of senior notes	−262	−344	0	0	−421
Debt issuance costs	−100,000	−24	−2	−7	−8
Share repurchases	−8	−8	−11	−147	−1,011
Other	−3	3	3	4	4
Net cash used in financing activities	−296	−335	−148	−265	−729
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	8	−23	5	−26	−19
Net change in cash, cash equivalents, and restricted cash	−63	−157	79	−94	−444
Interest paid	206	194	159	134	144

Filings

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