Herbalife Ltd

Latest Results (15.04.2026):

Herbalife Ltd reported results for the fourth quarter of 2025 showing continued momentum: Q4 net sales were $1.283 billion (up 6.3% vs. Q4 2024; +5.5% on a constant‑currency basis), with diluted EPS of $0.81 and adjusted diluted EPS of $0.45. Full‑year 2025 net sales were $5.0375 billion (up 0.9%; +2.5% constant currency), adjusted EBITDA expanded to $657.6 million, and the company ended the year with a total leverage ratio of 2.8x. The company also announced a strategic investment in its Pro2col platform by Cristiano Ronaldo in February 2026.

Quarterly sales and margins

Q4 2025 net sales: $1,283.0M (+6.3% YoY; +5.5% ex‑FX). Gross profit margin was 77.5% (vs. 77.8% a year ago), with FX, mix and input cost pressures largely offset by pricing and freight benefits.

Profitability and non‑GAAP metrics

Q4 net income attributable to Herbalife: $85.4M (net income margin 6.7%). Q4 adjusted net income: $47.5M. Q4 adjusted EBITDA: $156.1M (12.2% margin); on a constant‑currency basis adjusted EBITDA was $167.7M. Diluted EPS: $0.81; adjusted diluted EPS: $0.45 (includes FX headwind).

Full‑year 2025 results

FY 2025 net sales: $5,037.5M (+0.9% YoY; +2.5% constant currency). FY net income attributable: $228.3M; adjusted net income: $219.4M. FY adjusted EBITDA: $657.6M (or $713.9M constant currency). Net cash provided by operating activities: $333.3M for the year.

Regional performance and distributors

Q4 regional highlights: North America $243.1M (‑0.8% YoY), Latin America $234.7M (+17.6% YoY; +11.0% ex‑FX), EMEA $280.9M (+9.2%), Asia Pacific $461.3M (+4.9%), China $63.0M (‑4.4%). North America posted double‑digit new distributor growth (+19% YoY); worldwide new distributors were down 5% YoY but up 16% on a two‑year stack.

Cash, capex and capital structure

Q4 operating cash flow: $98.3M; FY capex: $80.4M (Q4 capex $18.5M). Revolving credit facility undrawn at year‑end (vs. $25M outstanding in Sep 2025). Total leverage ratio per the credit agreement: 2.8x as of Dec 31, 2025.

Pro2col and recent developments

In February 2026 Cristiano Ronaldo invested $7.5M for a 10% equity stake in HBL Pro2col Software, LLC and committed sponsorship/services. The company made contingency payments of $3.0M in Q4 (and $5.0M for the year) related to Pro2col beta milestones.

Outlook (guidance)

Q1 2026 guidance: reported net sales +3.0% to +7.0% YoY (constant currency +0.5% to +4.5%); adjusted EBITDA $155–$175M; capex $10–$20M. Full‑year 2026 guidance: reported net sales +1.0% to +6.0% YoY (constant currency +0.0% to +5.0%); adjusted EBITDA $670–$710M; capex $50–$80M. Management also flagged $40–$60M of capitalized SaaS implementation costs (not in capex) and an adjusted tax rate ~30%.