Mannatech Inc. (MTEX) intrinsic value & 10-year financials
Mannatech Inc. (MTEX) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 5.5% a year to $108.0M, with an average return on invested capital of 24.7%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $7.12
- Market cap
- $13.5M
- Revenue (FY2025)
- $108.0M
- Revenue growth (10-yr CAGR)
- -5.5%
- ROIC (10-yr avg)
- 24.7%
- Free cash flow (FY2025)
- -$4.3M
MTEX 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $108.0M | -$15.2M | -$8.00 | -$4.3M | -0.4% | 13.0% |
| FY2024 | $117.9M | $2.5M | $1.32 | $2.0M | 1.2% | 32.9% |
| FY2023 | $132.0M | -$2.2M | -$1.20 | -$3.1M | -0.7% | -17.7% |
| FY2022 | $137.2M | -$4.5M | -$2.35 | -$3.7M | -0.3% | -8.9% |
| FY2021 | $159.8M | $9.8M | $4.71 | $10.1M | 5.7% | 125.8% |
| FY2020 | $151.4M | $6.3M | $2.77 | $5.1M | 3.0% | 50.8% |
| FY2019 | $157.7M | $3.3M | $1.35 | $3.7M | 4.1% | 47.2% |
| FY2018 | $173.6M | -$3.9M | -$1.53 | -$2.6M | -0.1% | -0.1% |
| FY2017 | $176.7M | -$1.8M | -$0.66 | $8.7M | 1.4% | 3.2% |
| FY2016 | $180.3M | -$586.0K | -$0.22 | -$2.3M | 0.4% | 1.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
MANNATECH INC is facing top-line stagnation, with revenue contracting over the decade.
MANNATECH INC has earned high returns on invested capital, averaging 24.7% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, MANNATECH INC shows that management has aggressively returned capital to shareholders by retiring 29.3% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, MANNATECH INC is modeled at -5.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-2.92 per share.