Download PDF

1. Company Snapshot

1.a. Company Description

Nature's Sunshine Products, Inc., a natural health and wellness company, primarily manufactures and sells nutritional and personal care products in Asia, Europe, North America, Latin America, and internationally.It offers general health products related to blood sugar support, bone health, cellular health, cognitive function, joint health, mood, sexual health, sleep, sports and energy, and vision.The company also provides immunity, cardiovascular, and digestive products; and personal care products, such as oils and lotions, aloe vera gels, herbal shampoos, herbal skin treatment, toothpaste, and skin cleansers, as well as weight management products.


It offers its products under the Nature's Sunshine and Synergy WorldWide brands through a sales force of independent consultants.The company was founded in 1972 and is headquartered in Lehi, Utah.

Show Full description

1.b. Last Insights on NATR

Nature's Sunshine Products, Inc.'s recent performance was driven by strong Q3 2025 earnings, with net sales up 12% to $128.3 million and GAAP EPS up 30% to $0.30. Adjusted EBITDA surged 42% to $15.2 million. The company's relaunch of its Power Line suite, designed to combat metabolic health issues, likely contributed to growth. Additionally, the appointment of Kenneth Romanzi as CEO brought new leadership and operational expertise. The company raised its full-year outlook, indicating confidence in its future prospects.

1.c. Company Highlights

2. Nature's Sunshine's Strong Q3 Earnings Beat Expectations

Nature's Sunshine reported its best quarter ever with net sales of $128.3 million, a 12% increase from the prior year, and net income attributable to common shareholders of $5.3 million or $0.36 per diluted common share, significantly beating estimates of $0.19. The company also reported a 200-basis-point increase in gross margin to 73.3%, its highest in 15 quarters, driven by ongoing gross margin initiatives, favorable market mix, and disciplined cost management. Adjusted EBITDA increased 42% to $15.2 million.

Publication Date: Nov -30

📋 Highlights
  • Record Q3 Net Sales:: Achieved $128.3 million, a 12% YoY increase driven by North America, Asia, and Europe growth.
  • Digital Business Surge:: 52% Q3 growth fueled by subscription auto-ship programs and improved customer engagement.
  • Asia Pacific Expansion:: 17% YoY sales rise, led by Japan, China, and Korea with enhanced product offerings and distributor activation.
  • Gross Margin Improvement:: 200-basis-point increase to 73.3%, highest in 15 quarters, due to cost management and favorable market mix.
  • 2025 Guidance Raised:: Full-year sales projected at $476–$480 million (5–6% YoY growth) and adjusted EBITDA at $47–$49 million (16–21% YoY growth).

Digital Business Driving Growth

The digital business was a key driver of growth, increasing 52% in the third quarter, driven by improved customer experience, increased lifetime value, and a win-win proposition for consumers and the company through subscription auto-ship programs. As CFO Shane Jones mentioned, the company is seeing success across multiple areas, including Amazon, DTC, and social commerce, with opportunities to invest in digital advertising at a lower customer acquisition cost.

Regional Performance

The Asia Pacific region saw sales increase 17% year-over-year, driven by strong performance in Japan, China, and Korea, with the introduction of more consumer-friendly products, enhanced subscription auto-ship programs, and strengthened field activation. The company expects flat to down slightly growth in the fourth quarter due to the difficult comparable and the acceleration of some sales from the fourth quarter to the third quarter.

Guidance and Outlook

The company raised its guidance for 2025, expecting full-year net sales to range between $476 million and $480 million, a 5% to 6% increase from the prior year, and adjusted EBITDA to range between $47 million and $49 million, a 16% to 21% increase from the prior year. Analysts estimate next year's revenue growth at 3.4%, indicating a potential slowdown.

Valuation

With a P/E Ratio of 24.05 and an EV/EBITDA of 10.26, the stock appears to be fairly valued. The company's ROE of 9.42% and ROIC of 5.65% indicate a decent return on equity and invested capital. The dividend yield is 0%, but the Free Cash Flow Yield is 6.54%, indicating a potential opportunity for shareholders.

3. NewsRoom

Card image cap

Nature's Sunshine Appoints Erich Fritz as Executive Vice President of Global Supply Chain

Dec -04

Source: globenewswire.com

Card image cap

Nature's Sunshine Looks Fairly Priced After Its Recent Rally

Nov -21

Source: seekingalpha.com

Card image cap

Nature's Sunshine Products, Inc. (NATR) Q3 2025 Earnings Call Transcript

Nov -07

Source: seekingalpha.com

Card image cap

Nature's Sunshine Reports Strong Third Quarter 2025 Results

Nov -06

Source: globenewswire.com

Card image cap

Nature's Sunshine Sets Third Quarter 2025 Conference Call for Thursday, November 6, 2025, at 5:00 p.m. ET

Oct -23

Source: globenewswire.com

Card image cap

Nature's Sunshine Appoints Kenneth Romanzi as CEO

Oct -15

Source: globenewswire.com

Card image cap

Nature's Sunshine Relaunches Revolutionary Power Line to Combat Metabolic Health Crisis

Oct -07

Source: globenewswire.com

Card image cap

Nature's Sunshine: Premium Valuation Without Moats, Sell

Aug -14

Source: seekingalpha.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (3.90%)

6. Segments

General Health

Expected Growth: 4%

General Health from Nature's Sunshine Products, Inc. growth driven by increasing demand for natural health supplements, rising health awareness, and expanding product offerings. Strong online presence and strategic partnerships also contribute to growth. Additionally, the company's focus on research and development, quality control, and customer education further supports its 4% growth rate.

Digestive

Expected Growth: 3.8%

The 3.8% growth of Digestive from Nature's Sunshine Products, Inc. is driven by increasing consumer awareness of gut health, rising demand for natural and organic products, and an aging population seeking digestive wellness solutions. Additionally, the company's strategic expansion into e-commerce and partnerships with healthcare professionals have contributed to the segment's growth.

Cardiovascular

Expected Growth: 3.9%

The 3.9% growth of Cardiovascular from Nature's Sunshine Products, Inc. is driven by increasing consumer awareness of heart health, rising demand for natural supplements, and an aging population seeking preventative measures. Additionally, the company's expanding product line and strategic marketing efforts have contributed to the segment's growth.

Weight Management

Expected Growth: 3.7%

The 3.7% growth in Weight Management from Nature's Sunshine Products, Inc. is driven by increasing consumer awareness of healthy living, rising obesity rates, and growing demand for natural weight loss solutions. Additionally, the company's expanding product portfolio and strategic marketing efforts have contributed to the segment's growth.

Immunity

Expected Growth: 4.1%

Nature's Sunshine Products, Inc.'s 4.1% growth is driven by increasing demand for natural health products, expansion into new markets, and strategic partnerships. The company's immunity segment benefits from rising consumer awareness of preventative healthcare, particularly among the aging population. Additionally, the company's e-commerce platform and digital marketing efforts contribute to its growth momentum.

Personal Care

Expected Growth: 3.6%

Nature's Sunshine Products, Inc.'s 3.6% growth in Personal Care is driven by increasing consumer demand for natural and organic products, rising awareness of health and wellness, and expanding distribution channels. Additionally, the company's focus on product innovation, e-commerce platform, and strategic partnerships contribute to its growth momentum.

7. Detailed Products

Herbal Supplements

Nature's Sunshine Products offers a wide range of herbal supplements that promote overall health and wellness. These supplements are made from high-quality herbs and are designed to support various bodily functions.

Vitamin and Mineral Supplements

Nature's Sunshine Products provides a variety of vitamin and mineral supplements that help fill nutritional gaps in the diet. These supplements support overall health and wellness.

Probiotics

Nature's Sunshine Products offers a range of probiotic supplements that support gut health and immune system function. These supplements promote a healthy balance of gut bacteria.

Essential Oils

Nature's Sunshine Products offers a line of high-quality essential oils that can be used for aromatherapy, skincare, and other health benefits.

Weight Management Products

Nature's Sunshine Products offers a range of weight management products that support healthy weight loss and maintenance. These products are designed to help individuals achieve their weight loss goals.

Skin and Hair Care Products

Nature's Sunshine Products offers a range of skin and hair care products that promote healthy skin and hair. These products are designed to nourish and moisturize the skin and hair.

Nutritional Drinks

Nature's Sunshine Products offers a range of nutritional drinks that provide essential nutrients and support overall health and wellness.

8. Nature's Sunshine Products, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Nature's Sunshine Products, Inc. faces moderate threat from substitutes due to the availability of alternative health supplements from other manufacturers.

Bargaining Power Of Customers

Customers have limited bargaining power due to the specialized nature of Nature's Sunshine Products, Inc.'s products and the lack of direct substitutes.

Bargaining Power Of Suppliers

Suppliers of raw materials have moderate bargaining power due to the availability of alternative suppliers, but Nature's Sunshine Products, Inc.'s large scale of operations gives it some negotiating power.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the health supplements industry, including regulatory hurdles and the need for significant investment in research and development.

Intensity Of Rivalry

The health supplements industry is highly competitive, with many established players competing for market share, leading to a high intensity of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 8.83%
Debt Cost 3.95%
Equity Weight 91.17%
Equity Cost 8.11%
WACC 7.75%
Leverage 9.69%

11. Quality Control: Nature's Sunshine Products, Inc. passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Seneca Foods

A-Score: 6.1/10

Value: 7.1

Growth: 7.2

Quality: 4.4

Yield: 0.0

Momentum: 10.0

Volatility: 7.7

1-Year Total Return ->

View Full Report
Stock-Card
John B. Sanfilippo & Son

A-Score: 5.2/10

Value: 7.3

Growth: 4.4

Quality: 6.1

Yield: 6.0

Momentum: 0.5

Volatility: 7.0

1-Year Total Return ->

View Full Report
Stock-Card
Nature's Sunshine Products

A-Score: 5.0/10

Value: 6.5

Growth: 4.1

Quality: 6.5

Yield: 1.0

Momentum: 7.0

Volatility: 5.0

1-Year Total Return ->

View Full Report
Stock-Card
LifeVantage

A-Score: 4.6/10

Value: 7.0

Growth: 4.6

Quality: 7.3

Yield: 5.0

Momentum: 1.0

Volatility: 2.7

1-Year Total Return ->

View Full Report
Stock-Card
Mama's Creations

A-Score: 4.6/10

Value: 0.6

Growth: 8.8

Quality: 5.9

Yield: 0.0

Momentum: 8.5

Volatility: 3.7

1-Year Total Return ->

View Full Report
Stock-Card
Lifeway Foods

A-Score: 4.2/10

Value: 2.2

Growth: 8.2

Quality: 6.2

Yield: 0.0

Momentum: 5.0

Volatility: 3.3

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

21.88$

Current Price

21.88$

Potential

-0.00%

Expected Cash-Flows