Natural Health Trends Corp. (NHTC) intrinsic value & 10-year financials
Natural Health Trends Corp. (NHTC) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 19.7% a year to $39.8M, with an average return on invested capital of 12.9%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $0.97
- Market cap
- $11.2M
- Revenue (FY2025)
- $39.8M
- Revenue growth (10-yr CAGR)
- -19.7%
- ROIC (10-yr avg)
- 12.9%
- Free cash flow (FY2025)
- -$6.1M
NHTC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $39.8M | -$882.0K | -$0.08 | -$6.1M | -4.5% | -9.4% |
| FY2024 | $43.0M | $572.0K | $0.05 | -$3.4M | -3.0% | -27.9% |
| FY2023 | $43.9M | $568.0K | $0.05 | -$4.3M | -3.8% | 8.9% |
| FY2022 | $49.1M | $313.0K | $0.03 | -$5.0M | -0.5% | 0.7% |
| FY2021 | $60.0M | $1.1M | $0.09 | $791.0K | 2.6% | -5.1% |
| FY2020 | $62.1M | $843.0K | $0.07 | $1.7M | 1.1% | -1.8% |
| FY2019 | $77.6M | -$5.6M | -$0.52 | -$18.8M | -9.0% | 36.2% |
| FY2018 | $191.9M | $31.0M | $2.74 | $29.5M | 17.6% | 33.6% |
| FY2017 | $197.6M | $23.6M | $2.09 | $26.3M | 21.8% | 27.0% |
| FY2016 | $287.7M | $55.1M | $4.83 | $52.3M | 22.3% | 66.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
NATURAL HEALTH TRENDS CORP is facing top-line stagnation, with revenue contracting over the decade.
NATURAL HEALTH TRENDS CORP returns on capital have been average, hovering around 12.9% ROIC over the decade.
NATURAL HEALTH TRENDS CORP has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, NATURAL HEALTH TRENDS CORP is modeled at -19.7% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-1.34 per share.