Nature's Sunshine Products, Inc. (NATR) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+87.3%

$22.51

vs $12.02 price

Levered DCF

$40.49

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

4.63

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	19.98×	35.76×	21.89×	-416×	12.76×	13.72×	25.51×	-182.33×
P/B	2.41×	1.76×	2.14×	1.13×	2.32×	1.88×	1.33×	1.29×
P/S	0.81×	0.6×	0.74×	0.38×	0.83×	0.76×	0.48×	0.43×
EV / EBITDA	7.17×	6.17×	8.17×	4.53×	7.04×	6.72×	5.54×	7.97×
Gross margin	72.4%	71.5%	72.1%	71.0%	74.0%	73.7%	74.1%	73.8%
Operating margin	5.2%	4.4%	4.2%	3.9%	7.8%	5.6%	4.5%	1.5%
Net margin	4.1%	1.7%	3.4%	-0.1%	6.5%	5.5%	1.9%	-0.2%
Current ratio	2.28×	2.44×	2.16×	2.28×	2.15×	2.21×	1.94×	1.6×
Debt / equity	0.12×	0.09×	0.1×	0.13×	0.15×	0.17×	0.21×	0.01×
Interest coverage	252.48×	137.64×	271.72×	65.29×	138.68×	210.61×	375×	13.83×
Dividend yield	0.0%	0.0%	0.0%	0.0%	5.4%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	68.8%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.1%	5.0%	9.8%	-0.3%	18.2%	13.7%	5.2%	-0.7%
Return on invested capital	9.1%	4.8%	8.6%	0.3%	17.5%	11.5%	4.4%	-1.6%
Return on assets	7.5%	3.2%	6.0%	-0.2%	11.1%	8.6%	3.2%	-0.4%
Free cash flow yield	7.4%	5.2%	9.3%	-4.3%	7.6%	11.2%	2.0%	10.9%
Earnings yield	5.0%	2.8%	4.6%	-0.2%	7.9%	7.3%	3.9%	-0.5%
Enterprise value	$313.6M	$202.4M	$262.2M	$119.9M	$304.2M	$226.3M	$145.5M	$106.7M
Net debt / EBITDA	-1.71×	-2.15×	-2.1×	-1.54×	-1.46×	-1.95×	-1.03×	-3.67×
Cash conversion cycle (days)	173	150	181	196	169	155	172	148