Metrics

The numbers behind Herbalife Ltd.: as-reported financial statements and company metrics for FY2021–FY2025, traced to the source filings, opened with the share-price history those statements have to justify. Every linked figure opens the exact page of the filing it was printed on, with the statement row highlighted. Amounts in US$ millions unless noted.

Reading notes: Revenue is disaggregated three ways because Herbalife reports and discusses all three: by geographic region (the hero cut, and the basis of its operating segments), by product line, and by reporting segment (Primary Reporting Segment versus China). In the FY2025 10-K Herbalife renamed Royalty overrides to member compensation and re-cut its operating expenses into Selling expenses and General and administrative expenses; FY2023 and FY2024 were revised onto that basis. FY2021 and FY2022 are shown on the prior Royalty overrides / Selling, general, and administrative expenses basis exactly as printed in the FY2022 10-K, on their own rows. Total operating expense is unaffected by the reclassification. FY2016-FY2018 rows of the Long-Term Record come from the standardized SEC XBRL data feed and carry no page links. FY2019 and FY2020 are comparative columns of the FY2021 10-K and are linked. Net income for FY2025 is the consolidated 227.8 as printed; net income attributable to Herbalife was 228.3, and diluted EPS of 2.20 is computed on the attributable figure.

Share Price — Full Available History — 22 Years

The stock closed at $12.18 on Jul 27, 2026 — up 231% over the window shown (+5.7% a year), trading between $3.07 and $61.47. At that close the stock trades at 5.5× FY2025 diluted EPS as reported below.

Source: market price feed, monthly closes, sampled from 5,436 source observations, Dec 2004–Jul 2026. Price return only, excludes dividends.

Market capitalization $2.1bn and enterprise value $3.7bn.

Market cap = 172.2M shares outstanding × the Jul 27, 2026 close of $12.18. Enterprise value adds total debt of $2.0bn and subtracts cash and equivalents of $353mn (net debt of $1.6bn), from the FY2025 balance sheet. Market-derived figures, shown without filing links.

FY2025 at a Glance

Source: FY2025 consolidated statements [1] [2]. Click any linked figure to open the filing page with the row highlighted.

Net Sales by Geographic Region

Net Sales by Geographic Region	FY2021	FY2022	FY2023	FY2024	FY2025
North America	1,429	1,262	1,131	1,054	1,033
Latin America	823	786	821	832	881
EMEA	1,335	1,078	1,069	1,085	1,114
Asia Pacific	1,586	1,687	1,714	1,724	1,730
China	630	391	327	298	279
Worldwide	5,803	5,204	5,062	4,993	5,038

Source: Form 10-K Item 7 MD&A, Sales by Geographic Region. Each 10-K prints two years; FY2021 is the comparative column of the FY2022 10-K. The five regions are Herbalife's operating segments (China is a separate reporting segment; the other four are aggregated into the Primary Reporting Segment). [3] [4] [5] [6]. Click any linked figure to open the filing page with the row highlighted.

Contribution Margin by Reporting Segment

Contribution Margin by Reporting Segment	FY2021	FY2022	FY2023	FY2024	FY2025
Primary Reporting Segment	2,176	2,005	1,938	2,004	2,037
China	—	139	109	102	103
Total contribution margin	—	2,144	2,047	2,106	2,140

Source: Note 10, Segment Information. Contribution margin is net sales less cost of sales and selling expenses (member compensation, and service fees to China independent service providers). China was restated onto this basis from the FY2024 10-K onward, so FY2021 China and total contribution margin are not available on a comparable basis and are left blank; the Primary Reporting Segment measure is unchanged across all years. [7] [8] [9]. Click any linked figure to open the filing page with the row highlighted.

Income Statement

Source: Consolidated Statements of Income. FY2023-FY2025 as presented in the FY2025 10-K, which reclassified Royalty overrides into Selling expenses and split the former Selling, general, and administrative expenses line; FY2021-FY2022 as printed in the FY2022 10-K under the prior presentation. [1] [2]. Click any linked figure to open the filing page with the row highlighted.

Columns marked E are consensus analyst estimates from S&P Capital IQ (CapIQ), shown alongside reported results for direct comparison; they are not company guidance.

Estimate source: S&P Capital IQ (CapIQ) consensus, as of 2026-07-28. Estimate figures are S&P Capital IQ consensus (vendor data — no filing page links). EPS and net income use the normalized (adjusted) consensus where the street reports it. Line-item analyst models (segments, drivers, KPIs) are in the Visible Alpha tab.

Balance Sheet

Source: Consolidated Balance Sheets. Each 10-K prints two year-ends: FY2024-FY2025 from the FY2025 10-K, FY2022-FY2023 from the FY2023 10-K, FY2021 from the FY2021 10-K. [10] [11] [12]. Click any linked figure to open the filing page with the row highlighted.

Cash Flow

Source: Consolidated Statements of Cash Flows. FY2023-FY2025 from the FY2025 10-K, FY2021-FY2022 from the FY2022 10-K. [13] [14]. Click any linked figure to open the filing page with the row highlighted.

Net Sales by Product Line

Net Sales by Product Line	FY2021	FY2022	FY2023	FY2024	FY2025
Weight Management	3,370	2,954	2,852	2,768	2,747
Targeted Nutrition	1,637	1,513	1,480	1,484	1,510
Energy, Sports, and Fitness	552	551	560	572	617
Outer Nutrition	108	86	82	84	85
Literature, Promotional, and Other	136	101	88	85	79
Total net sales	5,803	5,204	5,062	4,993	5,038

Source: Note 10, Segment Information. FY2023-FY2025 from the FY2025 10-K, FY2021-FY2022 from the FY2022 10-K. [7] [9]. Click any linked figure to open the filing page with the row highlighted.

Member Base and Workforce at December 31

Member Base and Workforce at December 31	FY2021	FY2022	FY2023	FY2024	FY2025
Total Members (millions)	6.3	6.2	6.5	6.2	6.4
Preferred members (millions)	2.5	2.9	3.5	3.0	3.1
Distributors (millions)	2.3	2.0	2.0	2.1	2.3
Sales leaders at December 31, before February re-qualification	793,000	772,000	760,000	733,000	750,000
Employees	10,800	10,100	9,200	8,600	8,500

Source: company filings [15] [16] [17] [18]. Click any linked figure to open the filing page with the row highlighted.

Sales Leaders by Region (end of February)

Sales Leaders by Region (end of February)	FY2021	FY2022	FY2023	FY2024	FY2025
North America	95,402	80,278	69,586	58,782	52,939
Latin America	131,359	125,726	118,605	107,247	115,471
EMEA	158,153	183,056	170,202	162,424	154,482
Asia Pacific	173,582	201,137	223,714	242,792	257,725
Total sales leaders (excluding China)	558,496	590,197	582,107	571,245	580,617

Source: company filings [16] [19]. Click any linked figure to open the filing page with the row highlighted.

Sales Leader Retention Rate (annual re-qualification)

Sales Leader Retention Rate (annual re-qualification)	FY2021	FY2022	FY2023	FY2024	FY2025
North America	70.8%	58.8%	69.7%	70.3%	75.4%
Latin America	67.0%	69.3%	71.6%	70.4%	76.3%
EMEA	72.7%	77.1%	64.6%	66.9%	65.6%
Asia Pacific	63.5%	66.5%	66.6%	67.4%	68.8%
Total sales leaders (excluding China)	67.9%	68.9%	67.6%	68.3%	70.3%

Source: company filings [20] [19]. Click any linked figure to open the filing page with the row highlighted.

Volume Points by Geographic Region (millions)

Volume Points by Geographic Region (millions)	FY2021	FY2022	FY2023	FY2024	FY2025
North America	1,783.8	1,430.2	1,160.9	1,029.5	—
Latin America	1,348.8	1,177.1	1,028.0	1,035.8	—
EMEA	1,629.3	1,353.4	1,222.9	1,136.2	—
Asia Pacific	1,960.1	2,156.5	2,151.5	2,145.3	—
China	375.8	261.4	237.6	222.1	—
Worldwide	7,097.8	6,378.6	5,800.9	5,568.9	—

Source: company filings [21] [22]. Click any linked figure to open the filing page with the row highlighted.

Net Sales Drivers (year-over-year)

Net Sales Drivers (year-over-year)	FY2021	FY2022	FY2023	FY2024	FY2025
Net sales change in local currency	3.3%	(5.4%)	(1.6%)	1.2%	2.5%
Impact of price increases on net sales	2.9%	7.9%	8.5%	5.3%	3.2%
Impact of foreign currency fluctuations on net sales	1.4%	(4.9%)	(1.1%)	(2.6%)	(1.6%)
Change in sales volume	2.5%	(10.1%)	(9.1%)	(4.0%)	(0.5%)

Source: company filings [23] [24] [25] [26]. Click any linked figure to open the filing page with the row highlighted.

Long-Term Record

Fiscal year	Net sales	Operating income	Net income	Diluted earnings per share	Net cash provided by operating activities	Purchases of property, plant, and equipment
FY2016	4,488	458	260	1.51	367	(143)
FY2017	4,428	617	214	1.29	591	(96)
FY2018	4,892	683	297	1.98	648	(84)
FY2019	4,877	568	311	2.20	458	(106)
FY2020	5,542	641	373	2.77	629	(112)
FY2021	5,803	734	447	4.13	460	(151)
FY2022	5,204	545	321	3.23	352	(156)
FY2023	5,062	356	142	1.42	358	(135)
FY2024	4,993	386	254	2.50	285	(122)
FY2025	5,038	481	228	2.20	333	(80)

Source: consolidated statements across filings; older years from the standardized feed [13] [1] [14] [2]. Click any linked figure to open the filing page with the row highlighted.

Operating KPIs

KPI	FY2021	FY2022	FY2023	FY2024	FY2025
Worldwide total sales leaders (end of February)	626,797	623,683	620,424	594,039	602,708
Sales leaders in China (end of February)	68,301	33,486	38,317	22,794	22,091

Source: company-reported operating metrics [16] [19]. Click any linked figure to open the filing page with the row highlighted.

Analyst Consensus

Street ratings: 2 strong buy, 1 buy, 1 sell. Consensus: Buy.

Estimate source: S&P Capital IQ (CapIQ) consensus, as of 2026-07-28. Estimate figures are S&P Capital IQ consensus (vendor data — no filing page links). EPS and net income use the normalized (adjusted) consensus where the street reports it. Line-item analyst models (segments, drivers, KPIs) are in the Visible Alpha tab.

Traceability

524 of 542 figures on this page (97%) link to the filing page where they are printed — click a linked figure to open the source PDF at that page with the row highlighted. Unlinked figures come from standardized data feeds or pre-filing years.

• Revenue is disaggregated three ways because Herbalife reports and discusses all three: by geographic region (the hero cut, and the basis of its operating segments), by product line, and by reporting segment (Primary Reporting Segment versus China).

• In the FY2025 10-K Herbalife renamed Royalty overrides to member compensation and re-cut its operating expenses into Selling expenses and General and administrative expenses; FY2023 and FY2024 were revised onto that basis. FY2021 and FY2022 are shown on the prior Royalty overrides / Selling, general, and administrative expenses basis exactly as printed in the FY2022 10-K, on their own rows. Total operating expense is unaffected by the reclassification.

• FY2016-FY2018 rows of the Long-Term Record come from the standardized SEC XBRL data feed and carry no page links. FY2019 and FY2020 are comparative columns of the FY2021 10-K and are linked.

• Net income for FY2025 is the consolidated 227.8 as printed; net income attributable to Herbalife was 228.3, and diluted EPS of 2.20 is computed on the attributable figure.

• Volume Points by geographic region, historically Herbalife's headline volume KPI, was discontinued in the FY2025 10-K, so the KPI block uses the number of sales leaders (measured at the end of February following each year's re-qualification, as the filings define it).

• The quarterly block covers Q1 FY2025 through Q1 FY2026 from the Forms 10-Q. Q4 FY2025 is absent: US registrants file no fourth-quarter 10-Q, and the corpus's Q4 FY2025 Form 8-K contains only the cover page, not the earnings release exhibit with printed statements.

• Quarterly cash-flow figures for Q2 FY25 and Q3 FY25 are differences of consecutive printed year-to-date statements; each reconciles exactly to the SEC XBRL quarterly cash-flow feed.

• 4 figure(s) differed between the data feed and the filing; the filing value is shown (see the run's metrics/metrics_tab.json for the audit trail).