Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $198M | $192M | $77.6M | $62.1M | $60.0M | $49.1M | $43.9M | $43.0M | $39.8M |
| Revenue growth | — | — | -2.9% | -59.6% | -20.0% | -3.3% | -18.1% | -10.6% | -2.2% | -7.4% |
| Gross profit | $233M | $159M | $153M | $57.5M | $45.1M | $45.0M | $36.5M | $32.7M | $31.8M | $29.3M |
| Gross margin | — | 80.4% | 79.5% | 74.1% | 72.6% | 75.0% | 74.2% | 74.6% | 74.0% | 73.5% |
| Operating income | $64.1M | $43.1M | $33.7M | -$7.02M | $669K | $1.57M | -$270K | -$1.67M | -$1.30M | -$1.81M |
| Operating margin | — | 21.8% | 17.6% | -9.0% | 1.1% | 2.6% | -0.5% | -3.8% | -3.0% | -4.5% |
| Net income | $55.1M | $23.6M | $31.0M | -$5.61M | $843K | $1.08M | $313K | $568K | $572K | -$882K |
| Net margin | — | 11.9% | 16.2% | -7.2% | 1.4% | 1.8% | 0.6% | 1.3% | 1.3% | -2.2% |
| EPS (diluted) | $4.83 | $2.09 | $2.74 | -$0.52 | $0.07 | $0.09 | $0.03 | $0.05 | $0.05 | -$0.08 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $53.2M | $26.6M | $29.7M | -$18.6M | $1.89M | $1.02M | -$4.85M | -$4.28M | -$3.37M | -$6.00M |
| Capital expenditures | $905K | $278K | $214K | $189K | $211K | $225K | $143K | $46.0K | $57.0K | $68.0K |
| Free cash flow | $52.3M | $26.3M | $29.5M | -$18.8M | $1.67M | $791K | -$5.00M | -$4.32M | -$3.42M | -$6.07M |
| Share buybacks | $23.7M | $0.00 | $0.00 | $10.1M | $0.00 | — | — | — | — | — |
| Dividends paid | $6.89M | $17.2M | $31.5M | $7.34M | $9.14M | $9.14M | $9.14M | $9.21M | $9.21M | $9.21M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $126M | $135M | $133M | $96.0M | $92.4M | $83.8M | $69.7M | $56.2M | $13.5M | $6.81M |
| Total assets | $148M | $160M | $158M | $118M | $106M | $98.4M | $82.8M | $69.1M | $55.4M | $38.4M |
| Total liabilities | $65.6M | $68.9M | $68.1M | $43.4M | $38.2M | $38.9M | $32.7M | $27.5M | $22.5M | $15.0M |
| Shareholders' equity | $82.4M | $90.6M | $89.9M | $75.1M | $67.7M | $59.5M | $50.2M | $41.6M | $32.9M | $23.4M |
| Retained earnings | $38.5M | $44.9M | $44.4M | $16.1M | $7.82M | -$231K | -$9.06M | -$17.7M | -$26.3M | -$36.4M |
| Shares (wtd avg diluted) | 11.4M | 11.3M | 11.3M | 10.9M | 11.4M | 11.4M | 11.4M | 11.5M | 11.5M | 11.5M |
Every figure is extracted from NATURAL HEALTH TRENDS CORP’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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