Usana Health Sciences Inc. (USNA) intrinsic value & 10-year financials
Usana Health Sciences Inc. (USNA) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 1.8% a year to $925.3M, with an average return on invested capital of 38.6%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $15.54
- Market cap
- $288.6M
- Revenue (FY2026)
- $925.3M
- Revenue growth (10-yr CAGR)
- 1.8%
- ROIC (10-yr avg)
- 38.6%
- Free cash flow (FY2026)
- $8.5M
USNA 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $925.3M | $10.8M | $0.58 | $8.5M | 4.0% | 5.0% |
| FY2024 | $854.5M | $42.0M | $2.19 | $50.9M | 7.8% | 13.7% |
| FY2023 | $921.0M | $63.8M | $3.30 | $56.1M | 10.1% | 35.6% |
| FY2022 | $998.6M | $69.3M | $3.59 | $93.5M | 10.8% | 44.7% |
| FY2021 | $1.1B | $124.7M | $5.86 | $145.3M | 15.6% | 92.2% |
| FY2019 | $1.1B | $100.5M | $4.41 | $110.2M | 13.8% | 72.8% |
| FY2018 | $1.2B | $126.2M | $5.12 | $140.7M | 15.8% | 32.9% |
| FY2017 | $1.0B | $62.5M | $2.53 | $110.6M | 12.7% | 19.2% |
| FY2016 | $1.0B | $100.0M | $3.99 | $104.3M | 13.8% | 36.0% |
| FY2015 | $790.5M | $76.6M | $5.60 | $84.8M | 14.7% | 33.4% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
USANA HEALTH SCIENCES INC has demonstrated mature, steady growth, with revenue compounding at 1.8% annually over the past decade.
USANA HEALTH SCIENCES INC has earned high returns on invested capital, averaging 38.6% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
USANA HEALTH SCIENCES INC 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, USANA HEALTH SCIENCES INC is modeled at -17.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-13.30 per share.