GuruFocus Manual of Stocks™  |  May 20, 2022
Usana Health Sciences Inc (NYSE:USNA)
www.gurufocus.com/stock/NYSE:USNA
Usana Health Sciences Inc (NYSE:USNA)
[1]
Modestly Undervalued[5]$ 69.11
GF Score: 93/100Market Cap: $ 1,326 Mil
Industry: Consumer Defensive - Consumer Packaged Goods
Usana Health Sciences Inc manufactures health products. Its key products include science-based nutritional and personal care products.
GF Value Rank
Rank: 10 /10CurrentIndustry MedianHistorical Median
PE Ratio12.7917.5515.59
Forward P/EN/A17.15N/A
PB Ratio3.381.564.68
PS Ratio1.191.131.58
P/FCF12.8116.8114.74
Shiller P/E15.1319.4124.47
PEG Ratio1.241.751.25
Valuation Analysis
Current% of Price
NCAV9.4214
Tangible Book17.8426
Graham Number46.5967
Peter Lynch Value60.9788
Price69.11
GF Value93.67136
Median PS Value94.24136
DCF (FCF Based)109.55159
DCF (Earnings Based)117.51170
EPV135.52196
Dividend & Ownership
Dividend Yield (TTM) %N/A
Dividend Yield (Forward) %N/A
Dividend Payout RatioN/A
Dividend Growth (5Y) %N/A
Yield on Cost (5Y) %N/A
Continuous Div. since0
Insider Ownership %6.01
Institution Ownership %46.48
Financial Strength
Rank: 9 /10CurrentIndustry MedianHistorical Median
Cash-to-Debt23.780.55No Debt
Equity-to-Asset0.680.530.68
Interest Coverage1893.6011.142933.17
Piotroski F-Score657
Profitability Rank
Rank: 9 /10CurrentIndustry MedianHistorical Median
Operating Margin %13.824.8914.91
Net Margin %9.413.7210.09
ROE %27.017.0032.22
ROA %18.653.3721.96
ROC (Joel Greenblatt) %159.6810.96173.24
Growth Rank(* per share data)
Rank: 9 /1010-Yr5-Yr1-Yr
Revenue Growth %11.97.53.7
EBITDA Growth %12.510.3-6.5
Oprt. Income Growth %11.89.6-7.5
EPS w/o NRI Growth %11.912.7-11.0
FCF Growth %10.96.9-18.3
Book Value Growth %13.59.33.1
Momentum Rank
Rank: 5 /10CurrentIndustry MedianHistorical Median
5-Day RSI27.0746.14N/A
9-Day RSI28.6144.96N/A
14-Day RSI30.4845.24N/A
6-1M Momentum %-21.15-3.53N/A
12-1M Momentum %-20.47-3.85N/A
Quarterly
Mar21Jun21Sep21Dec21Mar22
Revenue307.98336.84274.35267.30272.87
Net Income30.6238.2327.3320.3222.47
EPS1.451.871.361.031.15
Revenue YoY %15.5130.06-8.09-13.92-11.40
Net Income YoY %15.3236.66-10.41-48.72-26.62
EPS YoY %17.8941.67-5.56-44.92-20.69
Good Signs
GOODFinancial Strength: Strong Financial Strength
GOODAltman Z-Score: Strong
GOODBeneish M-Score: Unlikely manipulator
GOODInterest Coverage: Comfortable
Insider Trades
InsiderPositionDateTradesCur. Shares
Noot WalterCOO02/16/22-3849--
Fuller Gilbert ADirector02/15/22-312--
Noot WalterCOO12/16/21-6193--
Macuga Daniel A.Chief Communica12/08/21-368--
Mulham David MulhamChief Field Dev12/07/21-8734,081
Mulham David MulhamChief Field Dev11/15/21-5694,954
Mulham David MulhamChief Field Dev11/11/21-11115,523
Iiekking G DougCFO11/05/21-2191,400
Neidig BrentChief Officer &11/05/21-175--
Mulham David MulhamChief Field Dev11/04/21-13986,634
As of 05-20-2022
* All financial numbers are in millions except for per share data, ratios and percentage change.
%GainSP500
1W-3.40-0.73
1M-14.23-12.49
3M-23.17-10.03
6M-32.38-16.39
YTD-31.71-17.75
1Y-31.79-3.96
3Y-2.9212.66
5Y1.5312.26
10Y13.5413.75
136.25
60.40
15.46
643777
321888.5
2012201320142015201620172018201920202021CurrentPerformance
24.6345.7159.0988.0674.1375.60136.25118.9791.20106.45107.85Highest Stock Price
15.4616.4428.8148.9747.4154.2570.7558.9245.7877.9568.35Lowest Stock Price
4551,0501,2961,5951,4981,7792,7751,7011,6221,9631,326Market Cap
29.828.427.426.425.024.724.622.821.320.319.5Shares Outstanding-Diluted
7.4013.5918.3217.7915.3429.2722.9917.8113.1617.6612.79PE Ratio
2.454.035.635.684.614.907.094.843.674.973.38PB Ratio
0.761.491.781.831.521.752.441.691.441.741.19PS Ratio
3.587.199.519.528.6710.1611.988.506.568.976.03EV-to-EBITDA
2012201320142015201620172018201920202021TTMPer Share Data
21.7425.2828.8734.8540.1742.3948.2646.4953.3858.3257.68Revenue per Share
2.232.782.803.593.992.535.124.415.865.735.41Earnings per Share
2.833.203.103.334.164.475.714.836.845.335.40Free Cash Flow per Share
----------------------Dividends per Share
4.547.206.789.0211.2012.9314.5314.1018.7017.8917.84Tangible Book per Share
32.5635.7140.1448.1755.5258.5069.8371.4784.2295.2194.24Median PS Value
15.0821.2220.6726.9831.7127.1340.9237.4049.6648.0346.59Graham Number
2012201320142015201620172018201920202021TTMIncome Statement
648.73718.18790.47918.501,0061,0471,1891,0611,1351,1861,151Revenue
532.92590.74649.68758.82825.89867.86988.54873.40925.53968.57939.73Gross Profit
82.1582.2682.1982.6182.0982.8783.1282.3381.5781.6381.62Gross Margin %
434.74474.03533.58617.16687.27735.36800.19727.21749.04798.37780.66Total Operating Expense
98.18116.71116.10141.66138.62132.50188.35146.19176.49170.19159.06Operating Income
15.1316.2514.6915.4213.7812.6515.8413.7815.5514.3413.82Operating Margin %
66.4379.0276.6494.67100.0462.54126.22100.53124.66116.51108.35Net Income
10.2411.009.6910.319.945.9710.619.4810.999.829.41Net Margin %
98.45116.58115.78142.60139.00134.69191.55150.56178.46170.70159.68EBIT
107.27125.63124.59152.58152.48150.80208.39173.57200.96192.89181.99EBITDA
36.9635.4331.2437.0533.0118.1733.4727.0631.4327.8527.01ROE %
25.9624.8621.3224.4722.3812.6323.5118.7721.5319.1218.65ROA %
2012201320142015201620172018201920202021Mar22Balance Sheet
70.84137.34111.13143.21175.77247.13214.33234.83311.92239.83237.75Cash & Equivalents
267.36368.47350.58423.24470.64519.27554.46516.93640.89577.74572.92Total Assets
--------------8.328.627.0810.00Short-Term Debt & CLO
----------------------Long-Term Debt & CLO
81.78107.95120.42142.39145.36156.06163.32165.22199.24182.62182.97Total Liabilities
185.57260.52230.16280.85325.29363.21391.15351.71441.65395.12389.95Total Stockholders Equity
185.57260.52230.16280.85325.29363.21391.15351.71441.65395.12389.95Total Equity
2012201320142015201620172018201920202021TTMCashflow Statement
92.8198.89105.19111.47136.89123.77152.12126.73160.40121.23121.27Cash Flow from Operations
-8.28-21.59-16.27-25.12-31.88-12.90-69.0047.49-33.96-14.19-12.89Cash Flow from Investing
-64.54-10.17-113.02-49.16-64.86-50.32-105.28-152.05-59.44-181.41-130.53Cash Flow from Financing
20.4966.50-26.2232.0832.2271.58-33.3020.4578.25-72.28-18.50Net Change in Cash
70.84137.34111.13143.21178.95250.54217.23237.69315.94243.65241.57Ending Cash Position
-8.43-8.05-20.42-23.73-32.70-13.22-11.43-16.57-15.09-12.76-12.96Capital Expenditure
84.3790.8484.7687.74104.19110.55140.69110.16145.31108.46108.31Free Cash Flow
Competitor
TickerCompanyMarket Cap
($M)
PE RatioGF Score
/100
Financial
Strength /10
Profitability
Rank /10
GF Value
Rank /10
Growth
Rank /10
Momentum
Rank /10
NAS:SOVOSovos Brands Inc1,345299.202353000
SHSE:605339Namchow Food Group (Shanghai) Co Ltd1,33226.803085000
NYSE:USNAUsana Health Sciences Inc1,32612.7993991095
JSE:AVIAVI Ltd1,31912.2776781061
TPE:1210Greatwall Ent1,27623.128146878
GuruFocus Manual of Stocks™  |  May 20, 2022
Usana Health Sciences Inc (NYSE:USNA)
www.gurufocus.com/stock/NYSE:USNA

Financial Strength[2] (Quarterly data, as of Mar. 2022) : Good (9/10)

0
1
2
3
4
5
6
7
8
9

Cash-to-Debt : 23.78

Cash-to-Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. A high ratio indicates that a company is better able to pay back its debt, and is thus able to take on more debt if necessary.


Equity-to-Asset : 0.68

Equity-to-Asset ratio is calculated as total stockholders equity divided by its total assets. Equity-to-Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity-to-Asset ratio (more leveraged) may have higher ROE % because of the leverage.


Debt-to-Equity : 0.03

A high Debt-to-Equity ratio generally means that a company has been aggressive in financing its growth with debt.


Piotroski F-Score : 6

The Piotroski F-Score is used to determine the strength of a firm's financial position, with 9 being the best and 0 being the worst.

0
1
2
3
4
5
6
7
8
9


WACC : 8.19% vs ROIC : 30.77%

The weighted average cost of capital (WACC) is the rate that a company is expected to pay on average to all its security holders to finance its assets. Return on invested capital (ROIC) measures how well a company generates cash flow relative to the capital it has invested in its business.


Dividend Yield : 0.00%

Dividend yield is a way to measure how much cash flow you are getting for each dollar invested in an equity position.

GuruFocus Manual of Stocks™  |  May 20, 2022
Usana Health Sciences Inc (NYSE:USNA)
www.gurufocus.com/stock/NYSE:USNA

Profitability[3] (Annual data, as of Dec. 2021) : Good (9/10)

0
1
2
3
4
5
6
7
8
9

Revenue : $273 Mil vs Net Income : $22 Mil

Revenue is the amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. Net Income is a company's total profit. Net income is calculated by taking revenues and adjusting for the cost of doing business, depreciation, interest, taxes and other expenses.


Cash & Equivalents : $238 Mil vs Long-Term Debt* : $0 Mil

Cash & equivalents are the most liquid assets on the balance sheet. Cash equivalents are assets that are readily convertible into cash. Long-Term Debt* consists of loans and obligations lasting over one year.


Operating Margin % : 12.12%

Operating margin % measures how much profit a company makes on a dollar of sales. Operating Margin % is calculated as Operating Income divided by Revenue.


EPS without NRI : $1.15

Earnings Per Share without Non-Recurring Items is the amount of earnings without non-recurring items per outstanding share of the company's stock. In calculating earnings per share without non-recurring items, the dividends of preferred stocks and Non Operating Income need to subtracted from the total net income first.


Dividends per Share : $0.00

Dividends per Share is the amount of dividends that the shareholders of a company receive on a per-share basis. It is calculated using the total dividends paid out to shareholders over one fiscal year and the number of shares outstanding.


Free Cash Flow per Share : $0.92

Free Cash flow per Share is the amount of Free cash flow per outstanding share of the company's stock.

GuruFocus Manual of Stocks™  |  May 20, 2022
Usana Health Sciences Inc (NYSE:USNA)
www.gurufocus.com/stock/NYSE:USNA

Valuation (Quarterly data, as of Mar. 2022)

These valuation metrics should give you a sense of reasonable prices, but be careful with them. Always seek to understand why a valuation is changing over time.


Valuation Chart (Current stock price : $69.11)


PE Ratio without NRI : 14.69

The price-to-earnings ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than regular PE Ratio.


PB Ratio : 3.91

The price-to-book ratio measures the valuation of the stock relative to the underlying asset of the company.


PS Ratio : 1.38

The price-to-sales ratio is a valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the value placed on each dollar of a company’s sales or revenues.


Price-to-Free-Cash-Flow : 14.70

Price-to-free-cash-flow is very similar to the valuation metric of price-to-operating-cash-flow but is considered a more exact measure, owing to the fact that it uses free cash flow, which subtracts capital expenditures from a company's total operating cash flow, thereby reflecting the actual cash flow available to fund non-asset-related growth.


EV-to-EBIT : 8.12

Enterprise value of a company divided by its trailing 12 months earnings before interest and taxes (EBIT).

GuruFocus Manual of Stocks™  |  May 20, 2022
Usana Health Sciences Inc (NYSE:USNA)
www.gurufocus.com/stock/NYSE:USNA

Valuation Bands

In these charts the 10-year valuation bands of the price-to-earnings ratio (PE Ratio), price-to-book ratio (PB Ratio), price-to-sales ratio (PS Ratio) and price-to-operating-cash-flow ratio (POCF) are drawn together with the historical stock prices. For example, the upper line of the PE band is where the stock price would have been if it were always traded at the maximum PE ratio of the past 10 years. The lower line of the PE band is where the stock price would have been if it were always traded at the lowest PE ratio of the past 10 years. It is always better if the stock price is close to the lower line, which indicates a lower valuation.


Historical Price and PE Band


Historical Price and PS Band


Historical Price and PB Band


Historical Price and Price-to-Operating-Cash-Flow (POCF) Band

GuruFocus Manual of Stocks™  |  May 20, 2022
Usana Health Sciences Inc (NYSE:USNA)
www.gurufocus.com/stock/NYSE:USNA

Warning Signs

GuruFocus conducted a thorough checkup using a checklist of 32 items that cover the areas of financial strength, profitability, growth, and valuation of each company. The purpose of Warning Signs is to warn you that the company may have red flags in certain areas, helping to avoid overlooking them. These warning signs do not necessarily mean you should not invest in the stock. But you should be aware of them before you invest.


Good Signs

Financial Strength : Strong Financial Strength

Usana Health Sciences Inc shows strong financial strength.

Altman Z-Score : Strong

Altman Z-score of 8.58 is strong.

Beneish M-Score : Unlikely manipulator

Beneish M-Score -2.62 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

Medium Warning Signs

Revenue per Share : Growth slow down

Usana Health Sciences Inc revenue growth has slowed down over the past 12 months.
GuruFocus Manual of Stocks™  |  May 20, 2022
Usana Health Sciences Inc (NYSE:USNA)
www.gurufocus.com/stock/NYSE:USNA

Competitive Comparison


5 Year Price Change Comparison


Financial Strength

CompanyFinancial StrengthCash-to-DebtEquity-to-AssetDebt-to-EquityInterest CoveragePiotroski F-ScoreAltman Z-ScoreBeneish M-ScoreWACC %ROIC %
NYSE:USNAUsana Health Sciences Inc9/1023.780.680.031893.6068.58-2.628.1930.77
SHSE:605339Namchow Food Group (Shanghai) Co Ltd8/106.110.790.1022.12N/A8.33-2.247.6517.66
TPE:1227Standard Foods Corp8/103.580.690.1158.2545.71-2.843.7014.42
JSE:AVIAVI Ltd7/100.260.520.4421.8956.06-2.8110.8725.43
PHS:CNPFCentury Pacific Food Inc7/100.540.600.2420.3865.260.007.6116.33
TSE:2296Itoham Yonekyu Holdings Inc7/100.650.620.1281.9083.800.001.575.82
SZSE:000019Shenzhen Cereals Holdings Co Ltd6/100.230.630.2810.6254.12-3.726.499.24
SGX:F99Fraser and Neave Ltd5/100.290.620.294.6851.41-2.626.102.49
NAS:SOVOSovos Brands Inc5/100.140.440.971.54N/A1.940.007.117.84
TPE:1210Greatwall Ent4/100.300.331.087.6962.77-2.114.543.52

Profitability

CompanyProfitability RankOperating
Margin %
Net Margin %ROE %ROA %Price-to-Free-Cash-FlowROC (Joel Greenblatt) %3-Year Revenue Growth %3-Year EBITDA Growth %3-Year EPS w/o NRI Growth %
TPE:1227Standard Foods Corp9/108.136.7712.458.1210.8525.227.90-3.20-5.90
NYSE:USNAUsana Health Sciences Inc9/1013.829.4127.0118.6512.81159.686.503.903.80
JSE:AVIAVI Ltd8/1018.6412.7535.7618.6510.2341.10-0.700.90-0.80
PHS:CNPFCentury Pacific Food Inc8/1010.778.5619.8611.7553.8025.5213.0016.4018.10
SGX:F99Fraser and Neave Ltd7/106.446.614.182.580.0022.540.706.004.10
TPE:1210Greatwall Ent6/102.071.578.392.930.009.0111.201.40-2.90
SZSE:000019Shenzhen Cereals Holdings Co Ltd6/107.174.399.325.4614.2811.11-2.0015.9011.50
SHSE:605339Namchow Food Group (Shanghai) Co Ltd5/1013.3311.2210.998.3156.8530.693.008.606.10
TSE:2296Itoham Yonekyu Holdings Inc4/102.932.418.205.066.3915.240.705.908.80
NAS:SOVOSovos Brands Inc3/106.56-0.781.59-0.4835.4822.320.000.000.00

Valuation

CompanyPE RatioPB RatioPS RatioPrice-to-Intrinsic-Value-Projected-FCFPrice-to-Intrinsic-Value-DCF (Earnings Based)Price-to-Median-PS-ValuePrice-to-Peter-Lynch-Fair-ValuePrice-to-Graham-NumberEarnings Yield (Joel Greenblatt) %Forward Rate of Return (Yacktman) %
TSE:2296Itoham Yonekyu Holdings Inc9.310.740.230.000.000.000.000.5814.830.00
JSE:AVIAVI Ltd12.274.471.561.280.750.720.001.7111.1710.98
NYSE:USNAUsana Health Sciences Inc12.793.381.190.780.590.731.131.4814.5419.02
PHS:CNPFCentury Pacific Food Inc15.602.861.342.080.000.001.031.527.8116.79
SGX:F99Fraser and Neave Ltd16.190.651.040.660.000.670.000.708.56-4.62
TPE:1227Standard Foods Corp19.322.311.301.111.430.552.911.417.6812.65
SZSE:000019Shenzhen Cereals Holdings Co Ltd22.762.061.003.080.000.242.081.535.5110.02
TPE:1210Greatwall Ent23.121.930.371.550.001.324.401.415.426.79
SHSE:605339Namchow Food Group (Shanghai) Co Ltd26.802.713.000.000.000.000.001.845.750.00
NAS:SOVOSovos Brands Inc299.202.571.650.000.000.000.000.001.600.00
GuruFocus Manual of Stocks™  |  May 20, 2022
Usana Health Sciences Inc (NYSE:USNA)
www.gurufocus.com/stock/NYSE:USNA

Peter Lynch Chart[4]

GuruFocus Manual of Stocks™  |  May 20, 2022
Usana Health Sciences Inc (NYSE:USNA)
www.gurufocus.com/stock/NYSE:USNA

Per Share Data


Per Share Data

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
9.75
12.30
13.27
14.16
16.24
18.68
21.74
25.28
28.87
34.85
40.17
42.39
48.26
46.49
53.38
58.32
57.68
Revenue per Share
1.85
2.21
1.67
1.90
2.41
2.76
3.59
4.42
4.55
5.79
6.09
6.10
8.46
7.61
9.45
9.48
9.10
EBITDA per Share
1.70
2.06
1.46
1.67
2.16
2.49
3.30
4.10
4.23
5.41
5.55
5.45
7.77
6.60
8.40
8.39
7.98
EBIT per Share
1.10
1.32
0.93
1.09
1.43
1.63
2.23
2.78
2.80
3.59
3.99
2.53
5.12
4.41
5.86
5.73
5.41
Earnings per Share (Diluted)
1.13
1.34
0.93
1.09
1.43
1.63
2.23
2.78
2.80
3.59
3.99
2.53
5.12
4.41
5.86
5.73
5.41
EPS without NRI
1.46
1.30
0.90
0.38
1.43
1.60
2.72
3.24
3.97
3.84
4.16
3.65
4.84
4.30
6.11
4.80
4.90
Owner Earnings per Share (TTM)
1.32
0.90
0.93
0.92
1.94
1.91
2.83
3.20
3.10
3.33
4.16
4.47
5.71
4.83
6.84
5.33
5.40
Free Cash Flow per Share
1.62
1.66
1.42
1.05
2.07
2.25
3.11
3.48
3.84
4.23
5.47
5.01
6.17
5.55
7.55
5.96
6.05
Operating Cash Flow per Share
0.76
0.39
0.43
0.45
0.79
1.69
2.56
5.26
4.40
5.73
7.18
10.29
11.79
10.84
14.83
12.37
12.39
Cash per Share
1.69
1.18
1.04
2.43
4.74
5.82
6.71
9.38
9.11
11.25
13.29
15.12
16.60
16.24
20.99
20.38
20.33
Book Value per Share
1.53
1.01
0.85
2.24
2.86
3.80
4.54
7.20
6.78
9.02
11.20
12.93
14.53
14.10
18.70
17.89
17.84
Tangible Book per Share
--
0.85
1.14
0.23
--
--
--
--
--
--
--
--
--
0.38
0.41
0.37
0.52
Total Debt per Share
25.83
18.54
17.12
15.95
21.73
15.19
16.47
37.79
51.30
63.88
61.20
74.05
118
78.55
77.10
101
69.11
Month End Stock Price

Ratios

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
77.91
91.70
84.98
63.19
41.59
31.81
36.96
35.43
31.24
37.05
33.01
18.17
33.47
27.06
31.43
27.85
27.01
ROE %
5.08
5.83
5.15
9.62
9.08
12.19
15.09
8.79
5.55
6.52
7.16
3.71
4.72
5.59
8.56
5.60
7.99
ROE % Adjusted to Book Value
47.51
43.34
25.85
27.28
27.90
22.64
25.96
24.86
21.32
24.47
22.38
12.63
23.51
18.77
21.53
19.12
18.65
ROA %
87.28
104
101
70.77
58.41
50.46
55.56
48.55
41.29
47.76
40.07
21.38
38.65
31.04
35.68
31.47
30.67
Return-on-Tangible-Equity
50.84
45.83
27.18
28.60
34.58
30.72
33.94
30.67
25.56
28.72
25.42
14.11
25.96
20.59
23.45
20.76
20.32
Return-on-Tangible-Asset
233
172
86.59
90.50
120
131
161
193
178
179
147
132
197
161
182
169
160
ROC (Joel Greenblatt) %
119
110
68.79
68.33
60.19
46.82
51.64
49.70
45.01
53.44
44.55
37.93
48.87
38.28
41.81
38.37
37.58
ROCE %
72.44
62.07
34.24
35.21
36.50
30.14
35.40
38.87
33.49
35.98
34.49
20.96
43.95
33.98
38.65
33.75
30.77
ROIC %
11.08
4.32
3.04
8.27
8.26
9.37
7.04
10.65
15.50
8.29
8.92
2.51
6.55
4.78
6.67
7.95
8.19
WACC %
--
--
2.51
2.90
1.34
--
--
--
--
--
--
--
--
0.79
5.99
0.73
0.98
Effective Interest Rate on Debt %
78.14
79.23
79.28
79.45
81.55
82.53
82.15
82.26
82.19
82.61
82.09
82.87
83.12
82.33
81.57
81.63
81.62
Gross Margin %
17.44
16.71
11.19
11.62
13.18
13.28
15.13
16.25
14.69
15.42
13.78
12.65
15.84
13.78
15.55
14.34
13.82
Operating Margin %
11.30
10.71
6.98
7.68
8.82
8.72
10.24
11.00
9.69
10.31
9.94
5.97
10.61
9.48
10.99
9.82
9.41
Net Margin %
18.97
17.97
12.54
13.42
14.85
14.77
16.54
17.49
15.76
16.61
15.16
14.40
17.52
16.36
17.71
16.26
15.81
EBITDA Margin %
13.55
7.32
6.97
6.49
11.96
10.22
13.01
12.65
10.72
9.55
10.36
10.56
11.83
10.38
12.81
9.14
9.41
FCF Margin %
--
0.73
1.10
0.09
--
--
--
--
--
--
--
--
--
0.02
0.02
0.02
0.03
Debt-to-Equity
0.60
0.35
0.26
0.60
0.71
0.71
0.69
0.71
0.66
0.66
0.69
0.70
0.71
0.68
0.69
0.68
0.68
Equity-to-Asset
--
0.26
0.29
0.06
--
--
--
--
--
--
--
--
--
0.02
0.01
0.01
0.02
Debt-to-Asset
0.40
0.65
0.74
0.40
0.29
0.29
0.31
0.29
0.34
0.34
0.31
0.30
0.30
0.32
0.31
0.32
0.32
Liabilities-to-Assets
329
321
294
282
258
214
208
186
181
196
185
175
184
163
160
159
162
Gross-Profit-to-Asset %
4.20
4.05
3.70
3.55
3.16
2.60
2.54
2.26
2.20
2.37
2.25
2.12
2.22
1.98
1.96
1.95
1.98
Asset Turnover
--
--
2.71
2.49
2.30
2.34
--
--
--
--
--
--
--
--
--
--
-- Days Sales Outstanding
34.74
38.11
30.78
25.79
23.42
25.84
23.63
23.69
22.40
20.37
19.33
21.19
19.76
21.87
26.81
26.55
21.92
Days Payable
102
87.05
88.95
101
114
128
116
120
120
127
133
130
132
147
139
158
162
Days Inventory
67.46
48.94
60.88
77.58
93.25
104
92.12
96.21
97.49
107
113
109
112
125
112
131
140
Cash Conversion Cycle
3.57
4.19
4.10
3.62
3.19
2.86
3.15
3.04
3.04
2.87
2.75
2.81
2.77
2.49
2.63
2.31
2.25
Inventory Turnover
0.22
0.21
0.21
0.21
0.18
0.17
0.18
0.18
0.18
0.17
0.18
0.17
0.17
0.18
0.18
0.18
0.18
COGS-to-Revenue
0.06
0.05
0.05
0.06
0.06
0.06
0.06
0.06
0.06
0.06
0.07
0.06
0.06
0.07
0.07
0.08
0.08
Inventory-to-Revenue
0.03
0.06
0.04
0.01
0.01
0.02
0.01
0.01
0.03
0.03
0.03
0.01
0.01
0.02
0.01
0.01
0.01
Capex-to-Revenue
0.17
0.37
0.34
0.08
0.06
0.14
0.09
0.07
0.18
0.17
0.24
0.10
0.06
0.11
0.09
0.08
0.08
Capex-to-Operating-Income
0.18
0.46
0.35
0.13
0.06
0.15
0.09
0.08
0.19
0.21
0.24
0.11
0.08
0.13
0.09
0.11
0.11
Capex-to-Operating-Cash-Flow
* All financial numbers are in millions except for per share data, ratios and percentage change. When Return-on-Tangible-Equity displays Neg. E, it means the the tangible equity is negative.
GuruFocus Manual of Stocks™  |  May 20, 2022
Usana Health Sciences Inc (NYSE:USNA)
www.gurufocus.com/stock/NYSE:USNA

Financial Statement

Income Statement

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
365
423
429
437
518
582
649
718
790
918
1,006
1,047
1,189
1,061
1,135
1,186
1,151
Revenue
79.84
87.89
88.88
89.80
95.48
102
116
127
141
160
180
179
201
188
209
218
212
Cost of Goods Sold
285
335
340
347
422
480
533
591
650
759
826
868
989
873
926
969
940
Gross Profit
78.14
79.23
79.28
79.45
81.55
82.53
82.15
82.26
82.19
82.61
82.09
82.87
83.12
82.33
81.57
81.63
81.62
Gross Margin %
219
261
292
296
354
403
435
474
534
617
687
735
800
727
749
798
781
Selling, General, & Admin. Expense
2.97
3.36
--
--
--
--
--
--
--
--
--
--
--
--
--
--
-- Research & Development
--
--
--
--
-0.00
--
0.00
--
--
--
--
--
--
0.00
--
--
-0.00
Other Operating Expense
222
265
292
296
354
403
435
474
534
617
687
735
800
727
749
798
781
Total Operating Expense
63.70
70.70
48.00
50.79
68.22
77.26
98.18
117
116
142
139
133
188
146
176
170
159
Operating Income
17.44
16.71
11.19
11.62
13.18
13.28
15.13
16.25
14.69
15.42
13.78
12.65
15.84
13.78
15.55
14.34
13.82
Operating Margin %
--
--
0.25
0.08
0.17
0.19
0.25
0.46
0.50
1.12
1.48
2.19
4.43
4.71
2.54
2.52
2.49
  Interest Income
--
--
-0.79
-0.61
-0.09
-0.01
-0.02
-0.00
-0.13
-0.02
-0.44
-0.05
-0.04
-0.07
-0.51
-0.06
-0.08
  Interest Expense
--
--
-0.54
-0.53
0.07
0.18
0.23
0.46
0.37
1.10
1.04
2.14
4.39
4.64
2.03
2.46
2.41
Net Interest Income
1.41
0.47
-1.13
0.71
0.58
0.04
0.02
-0.59
-0.82
-0.17
-1.11
-0.00
-1.23
-0.33
-0.57
-2.01
-1.88
Other Income (Expense)
65.11
71.17
46.32
50.98
68.86
77.48
98.43
117
116
143
139
135
192
150
178
171
160
Pre-Tax Income
-22.97
-25.24
-16.38
-17.42
-23.21
-26.73
-31.99
-37.56
-39.02
-47.92
-38.51
-72.11
-65.29
-49.97
-53.28
-54.14
-51.24
Tax Provision
35.27
35.47
35.35
34.18
33.71
34.49
32.50
32.22
33.74
33.60
27.80
53.55
34.09
33.20
29.94
31.73
32.11
Tax Rate %
42.14
45.93
29.95
33.56
45.65
50.75
66.43
79.02
76.64
94.67
100
62.54
126
101
125
117
108
Net Income (Continuing Operations)
-0.88
-0.61
--
--
--
--
--
--
--
--
--
--
--
--
--
--
-- Net Income (Discontinued Operations)
41.27
45.32
29.95
33.56
45.65
50.75
66.43
79.02
76.64
94.67
100
62.54
126
101
125
117
108
Net Income
11.30
10.71
6.98
7.68
8.82
8.72
10.24
11.00
9.69
10.31
9.94
5.97
10.61
9.48
10.99
9.82
9.41
Net Margin %
1.15
1.36
0.94
1.10
1.47
1.65
2.29
2.89
2.90
3.72
4.14
2.57
5.24
4.44
5.89
5.78
5.46
EPS (Basic)
1.10
1.32
0.93
1.09
1.43
1.63
2.23
2.78
2.80
3.59
3.99
2.53
5.12
4.41
5.86
5.73
5.41
EPS (Diluted)
37.45
34.41
32.33
30.86
31.88
31.15
29.85
28.41
27.38
26.36
25.05
24.71
24.64
22.82
21.26
20.34
19.48
Shares Outstanding (Diluted Average)
63.70
70.70
47.11
51.59
68.96
77.49
98.45
117
116
143
139
135
192
151
178
171
160
EBIT
5.56
5.33
6.70
7.07
7.92
8.47
8.83
9.04
8.81
9.98
13.48
16.11
16.84
23.01
22.51
22.19
22.31
Depreciation, Depletion and Amortization
69.26
76.03
53.81
58.66
76.87
85.96
107
126
125
153
152
151
208
174
201
193
182
EBITDA
18.97
17.97
12.54
13.42
14.85
14.77
16.54
17.49
15.76
16.61
15.16
14.40
17.52
16.36
17.71
16.26
15.81
EBITDA Margin %
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  May 20, 2022
Usana Health Sciences Inc (NYSE:USNA)
www.gurufocus.com/stock/NYSE:USNA

Financial Statement

Cashflow Statement

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
41.27
45.32
29.95
33.56
45.65
50.75
66.43
79.02
76.64
94.67
100
62.54
126
101
125
117
108
Net Income From Continuing Operations
5.56
5.33
6.70
7.07
7.92
8.47
8.83
9.04
8.81
9.98
13.48
16.11
16.84
23.01
22.51
22.19
22.31
Depreciation, Depletion and Amortization
-2.22
2.68
-7.22
-1.12
-4.98
-3.21
1.37
-11.78
1.10
-23.07
-1.03
6.05
-23.10
12.99
-16.78
-10.50
-11.85
  Change In Inventory
-3.27
-2.56
-5.31
1.69
-5.22
4.02
-6.34
-8.47
-3.79
-2.05
-9.75
5.01
-1.63
7.19
-5.19
-2.33
-0.24
  Change In Prepaid Assets
4.37
-3.14
0.69
-1.14
-1.98
1.50
-0.99
9.87
13.38
14.51
-1.34
3.04
-1.72
1.84
6.08
-4.57
0.17
  Change In Payables And Accrued Expense
13.84
6.15
17.34
-14.87
13.48
-0.38
12.58
20.25
15.07
20.94
22.53
-6.52
18.70
-30.80
16.46
-11.46
-8.97
  Change In Other Working Capital
12.72
3.14
5.50
-15.45
1.30
1.94
6.62
9.87
25.76
10.33
10.41
7.59
-7.75
-8.79
0.56
-28.86
-20.87
Change In Working Capital
-1.30
-1.57
-2.44
-2.30
3.19
-1.60
4.11
0.81
-1.04
-2.57
-3.70
19.31
0.70
-3.64
-2.42
-2.97
-2.27
Deferred Tax
--
--
7.69
8.93
10.41
10.55
10.21
7.62
9.81
11.08
16.54
15.48
14.96
15.54
14.39
14.30
13.74
Stock Based Compensation
--
--
--
--
--
--
--
--
--
--
--
2.73
-0.66
--
0.51
--
-- Asset Impairment Charge
2.27
5.00
-1.44
0.66
-2.36
-0.00
-3.40
-7.48
-14.79
-12.02
0.12
0.02
1.80
0.09
0.19
0.06
0.01
Cash Flow from Others
60.52
57.22
45.96
32.47
66.11
70.11
92.81
98.89
105
111
137
124
152
127
160
121
121
Cash Flow from Operations
-11.04
-26.26
-16.06
-4.13
-4.19
-10.64
-8.43
-8.05
-20.42
-23.73
-32.70
-13.22
-11.43
-16.57
-15.09
-12.76
-12.96
Purchase Of Property, Plant, Equipment
0.02
0.80
0.15
0.84
0.03
0.03
0.15
0.05
0.01
0.19
0.01
0.02
0.38
0.02
0.01
0.02
0.01
Sale Of Property, Plant, Equipment
--
--
--
--
-42.69
--
--
--
--
--
--
--
--
--
--
--
-- Purchase Of Business
--
--
--
--
--
--
--
-8.64
-3.87
--
--
--
-86.40
-1.66
-21.09
-1.56
-- Purchase Of Investment
--
--
--
--
--
--
--
--
12.51
--
--
--
23.60
65.48
1.94
--
-- Sale Of Investment
-0.66
-0.54
0.71
0.09
--
0.00
-0.00
-4.94
-4.50
-1.58
0.80
0.30
4.85
0.23
0.28
0.12
0.07
Cash From Other Investing Activities
-11.68
-26.01
-15.21
-3.20
-46.85
-10.61
-8.28
-21.59
-16.27
-25.12
-31.88
-12.90
-69.00
47.49
-33.96
-14.19
-12.89
Cash Flow from Investing
3.55
3.15
0.75
--
--
--
--
--
--
--
--
--
--
--
--
--
-- Issuance of Stock
-40.96
-79.58
-39.87
-1.65
-17.03
-33.46
-68.29
-18.09
-139
-61.18
-64.61
-50.00
-105
-150
-57.03
-178
-136
Repurchase of Stock
--
28.00
85.02
57.02
69.30
--
1.85
--
30.00
--
73.70
3.50
--
5.00
60.00
--
10.00
  Issuance of Debt
--
--
-78.03
-85.01
-76.30
--
-1.85
--
-30.00
--
-73.70
-3.50
--
-5.00
-60.00
--
--   Payments of Debt
--
28.00
6.99
-27.99
-7.00
--
--
--
--
--
--
--
--
--
--
--
10.00
Net Issuance of Debt
4.96
2.53
2.37
0.14
14.45
0.09
3.75
7.92
25.80
12.02
-0.25
-0.32
0.10
-2.05
-2.41
-3.58
-4.92
Other Financing
-32.45
-45.90
-29.77
-29.50
-9.58
-33.37
-64.54
-10.17
-113
-49.16
-64.86
-50.32
-105
-152
-59.44
-181
-131
Cash Flow from Financing
10.58
27.03
12.87
13.28
13.66
24.22
50.35
70.84
137
111
147
179
251
217
238
316
260
Beginning Cash Position
0.06
0.53
-0.57
0.61
0.89
0.00
0.50
-0.64
-2.12
-5.10
-7.93
11.03
-11.14
-1.72
11.25
2.09
3.65
  Effect of Exchange Rate Changes
16.45
-14.16
0.42
0.38
10.56
26.13
20.49
66.50
-26.22
32.08
32.22
71.58
-33.30
20.45
78.25
-72.28
-18.50
Net Change in Cash
27.03
12.87
13.28
13.66
24.22
50.35
70.84
137
111
143
179
251
217
238
316
244
242
Ending Cash Position
-11.04
-26.26
-16.06
-4.13
-4.19
-10.64
-8.43
-8.05
-20.42
-23.73
-32.70
-13.22
-11.43
-16.57
-15.09
-12.76
-12.96
Capital Expenditure
49.48
30.96
29.90
28.34
61.92
59.47
84.37
90.84
84.76
87.74
104
111
141
110
145
108
108
Free Cash Flow
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  May 20, 2022
Usana Health Sciences Inc (NYSE:USNA)
www.gurufocus.com/stock/NYSE:USNA

Financial Satement

Balance Sheet

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
27.03
12.87
13.28
13.66
24.22
50.35
70.84
137
111
143
176
247
214
235
312
240
238
  Cash And Cash Equivalents
--
--
--
--
--
--
--
8.64
--
--
--
--
63.54
--
--
--
--   Marketable Securities
27.03
12.87
13.28
13.66
24.22
50.35
70.84
146
111
143
176
247
278
235
312
240
238
Cash, Cash Equivalents, Marketable Securities
--
--
3.18
2.78
3.74
--
--
--
--
--
--
--
--
--
--
--
--   Accounts Receivable
5.08
6.86
3.76
0.51
3.11
5.66
8.24
13.60
11.03
11.78
17.04
13.46
14.03
8.76
7.42
7.16
--   Other Current Receivables
5.08
6.86
6.94
3.28
6.84
5.66
8.24
13.60
11.03
11.78
17.04
13.46
14.03
8.76
7.42
7.16
-- Total Receivables
8.07
5.73
7.06
6.79
9.37
9.67
9.23
13.82
15.13
22.53
26.19
20.74
19.50
15.88
28.33
30.28
30.59
  Inventories, Raw Materials & Components
4.23
5.83
5.41
5.00
5.79
6.92
7.70
8.15
7.55
8.70
9.46
8.46
14.49
12.11
9.96
9.59
9.73
  Inventories, Work In Process
10.18
7.88
11.40
13.97
18.92
20.38
19.55
25.27
22.58
34.89
29.17
33.72
47.96
40.92
51.94
58.45
57.26
  Inventories, Finished Goods
--
--
0.00
-0.00
--
--
--
-0.00
-0.00
--
--
--
--
--
0.00
--
--   Inventories, Other
22.48
19.44
23.88
25.76
34.08
36.97
36.48
47.24
45.25
66.12
64.81
62.92
81.95
68.91
90.22
98.32
97.58
Total Inventories
6.02
6.83
8.57
9.23
15.13
13.08
16.99
22.22
23.53
23.15
20.23
16.65
18.49
16.78
15.73
19.80
28.45
Other Current Assets
60.62
45.99
52.67
51.93
80.27
106
133
229
191
244
278
340
392
329
425
365
364
Total Current Assets
3.00
3.54
8.20
9.38
10.16
10.16
10.41
9.40
8.91
8.41
8.91
10.59
10.13
9.92
10.47
10.37
--   Land And Improvements
13.52
27.17
36.24
37.95
39.33
40.17
40.77
39.50
38.92
38.24
70.72
73.34
71.33
71.26
79.67
80.82
--   Buildings And Improvements
13.82
15.60
43.72
48.48
50.75
57.12
60.64
62.02
61.39
67.12
78.03
88.20
90.59
93.69
100
111
--   Machinery, Furniture, Equipment
9.35
15.87
1.46
0.68
0.22
1.42
1.57
2.69
14.86
33.04
7.10
4.17
2.45
11.49
11.07
5.50
--   Construction In Progress
23.97
26.35
3.87
4.48
5.40
6.32
7.42
8.30
11.46
12.19
12.30
12.74
13.10
13.40
15.24
15.21
101
  Other Gross PPE
63.65
88.52
93.48
101
106
115
121
122
136
159
177
189
188
200
217
223
101
Gross Property, Plant and Equipment
-33.33
-36.46
-36.72
-43.71
-48.30
-54.44
-59.05
-62.72
-64.37
-71.03
-75.79
-86.20
-95.56
-105
-116
-122
--   Accumulated Depreciation
30.32
52.06
56.76
57.24
57.57
60.75
61.75
59.18
71.16
87.98
101
103
92.03
95.23
100
102
101
Property, Plant and Equipment
5.69
5.69
5.69
5.69
57.55
60.38
59.98
60.57
58.89
55.70
51.06
52.57
48.63
46.48
48.16
48.11
47.79
Intangible Assets
5.69
5.69
5.69
5.69
16.93
17.74
17.89
18.24
17.94
17.43
16.72
17.42
16.82
16.64
17.37
17.67
17.66
  Goodwill
3.37
5.39
7.45
8.58
8.42
17.31
13.08
19.67
29.60
35.29
40.45
23.69
21.48
45.95
66.99
62.73
60.56
Other Long Term Assets
39.39
63.14
69.90
71.51
124
138
135
139
160
179
193
179
162
188
216
213
209
Total Long-Term Assets
100
109
123
123
204
244
267
368
351
423
471
519
554
517
641
578
573
Total Assets
10.24
8.11
6.88
5.81
6.45
7.95
7.04
9.50
7.78
10.04
9.04
11.79
9.95
12.53
18.20
13.51
11.25
  Accounts Payable
--
--
10.17
3.97
6.24
8.40
5.98
11.36
13.75
15.67
17.45
23.68
20.77
16.53
20.27
16.52
--   Total Tax Payable
--
--
--
--
-0.00
--
--
-0.00
--
--
--
--
--
0.00
--
--
--   Other Current Payables
7.02
10.14
11.21
8.51
14.40
--
--
--
1.81
6.86
2.22
--
--
--
--
--
--   Current Accrued Expense
17.26
18.25
28.26
18.29
27.08
16.36
13.02
20.87
23.34
32.58
28.71
35.47
30.72
29.06
38.46
30.03
11.25
Accounts Payable & Accrued Expense
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
10.00
  Short-Term Debt
--
--
--
--
--
--
--
--
--
--
--
--
--
8.32
8.62
7.08
--   Short-Term Capital Lease Obligation
--
--
--
--
--
--
--
--
--
--
--
--
--
8.32
8.62
7.08
10.00
Short-Term Debt & Capital Lease Obligation
3.90
4.30
6.59
7.39
11.77
10.07
15.60
16.06
15.72
17.64
21.46
17.00
15.06
13.85
15.95
19.64
--   Current Deferred Revenue
--
--
--
--
--
0.97
1.38
5.07
5.27
4.43
--
--
--
--
--
--
--   Current Deferred Taxes Liabilities
3.90
4.30
6.59
7.39
11.77
11.04
16.98
21.13
20.99
22.07
21.46
17.00
15.06
13.85
15.95
19.64
-- DeferredTaxAndRevenue
18.64
17.63
19.69
14.81
18.77
32.30
40.84
53.88
64.38
76.77
88.32
88.72
103
84.86
105
104
137
Other Current Liabilities
39.81
40.19
54.53
40.48
57.62
59.70
70.84
95.87
109
131
138
141
149
136
168
161
158
Total Current Liabilities
--
28.00
34.99
7.00
--
--
--
--
--
--
--
--
--
--
--
--
--   Long-Term Debt
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--   Long-Term Capital Lease Obligation
--
28.00
34.99
7.00
--
--
--
--
--
--
--
--
--
--
--
--
-- Long-Term Debt & Capital Lease Obligation
--
0.73
1.10
0.09
--
--
--
--
--
--
--
--
--
0.02
0.02
0.02
0.03
Debt-to-Equity
--
--
--
--
--
9.95
10.00
10.87
10.60
9.82
5.50
13.73
13.37
10.28
12.01
7.50
11.42
NonCurrent Deferred Liabilities
--
2.30
1.21
1.59
1.01
0.94
0.94
1.21
1.11
1.15
1.36
1.15
1.26
18.84
19.16
14.33
13.59
Other Long-Term Liabilities
--
30.31
36.20
8.59
1.01
10.89
10.94
12.08
11.72
10.97
6.86
14.88
14.63
29.12
31.16
21.83
25.01
Total Long-Term Liabilities
39.81
70.49
90.74
49.07
58.64
70.59
81.78
108
120
142
145
156
163
165
199
183
183
Total Liabilities
0.02
0.02
0.02
0.02
0.02
0.02
0.01
0.01
0.01
0.03
0.02
0.02
0.02
0.02
0.02
0.02
0.02
Common Stock
44.25
30.11
24.11
56.41
90.21
119
135
200
166
215
265
288
330
306
383
345
345
Retained Earnings
0.36
0.99
-0.38
1.52
3.72
5.84
6.94
5.79
2.13
-3.78
-11.65
-1.43
-10.39
-13.90
-3.63
0.46
-0.78
Accumulated other comprehensive income (loss)
15.57
7.53
8.09
16.43
51.22
49.26
43.82
54.69
61.61
69.73
71.51
76.54
72.01
59.45
62.46
50.01
45.95
Additional Paid-In Capital
0.00
--
--
0.00
--
--
-0.00
--
-0.00
--
--
--
0.00
--
--
--
-- Other Stockholders Equity
60.20
38.64
31.84
74.37
145
174
186
261
230
281
325
363
391
352
442
395
390
Total Stockholders Equity
60.20
38.64
31.84
74.37
145
174
186
261
230
281
325
363
391
352
442
395
390
Total Equity
0.60
0.35
0.26
0.60
0.71
0.71
0.69
0.71
0.66
0.66
0.69
0.70
0.71
0.68
0.69
0.68
0.68
Equity-to-Asset
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  May 20, 2022
Usana Health Sciences Inc (NYSE:USNA)
www.gurufocus.com/stock/NYSE:USNA

Valuation Ratios

Valuation Ratios

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
23.48
14.10
18.51
14.70
15.20
9.32
7.40
13.59
18.32
17.79
15.34
29.27
22.99
17.81
13.16
17.66
12.79
PE Ratio
22.96
13.89
18.51
14.70
15.20
9.32
7.40
13.59
18.32
17.79
15.34
29.27
22.99
17.81
13.16
17.66
12.79
PE Ratio without NRI
17.72
14.27
19.00
41.86
15.21
9.48
6.06
11.67
12.91
16.63
14.72
20.28
24.35
18.26
12.61
21.07
14.11
Price-to-Owner-Earnings
15.33
15.73
16.51
6.57
4.58
2.61
2.45
4.03
5.63
5.68
4.61
4.90
7.09
4.84
3.67
4.97
3.38
PB Ratio
16.93
18.45
20.09
7.11
7.59
4.00
3.62
5.25
7.57
7.09
5.46
5.73
8.10
5.57
4.12
5.66
3.87
Price-to-Tangible-Book
19.55
20.60
18.51
17.37
11.19
7.96
5.83
11.82
16.57
19.19
14.71
16.55
20.62
16.27
11.28
18.98
12.81
Price-to-Free-Cash-Flow
15.98
11.15
12.04
15.16
10.48
6.75
5.30
10.86
13.35
15.11
11.20
14.78
19.07
14.14
10.22
16.98
11.42
Price-to-Operating-Cash-Flow
2.65
1.51
1.29
1.13
1.34
0.81
0.76
1.49
1.78
1.83
1.52
1.75
2.44
1.69
1.44
1.74
1.19
PS Ratio
0.38
0.38
1.23
--
5.47
1.56
0.55
0.56
0.90
0.93
0.90
2.59
1.80
1.70
1.32
1.48
1.24
PEG Ratio
2.45
1.47
1.28
1.10
1.24
0.69
0.59
1.26
1.50
1.58
1.31
1.46
2.10
1.39
1.16
1.46
0.94
EV-to-Revenue
12.93
8.19
10.17
8.21
8.34
4.69
3.58
7.19
9.51
9.52
8.67
10.16
11.98
8.50
6.56
8.97
6.03
EV-to-EBITDA
14.06
8.81
11.62
9.34
9.30
5.21
3.90
7.75
10.23
10.18
9.52
11.37
13.03
9.79
7.39
10.13
6.87
EV-to-EBIT
7.11
11.35
8.61
10.71
10.75
19.19
25.64
12.90
9.78
9.82
10.50
8.80
7.67
10.21
13.53
9.87
14.54
Earnings Yield (Joel Greenblatt) %
23.14
25.01
20.90
6.32
8.36
14.58
23.43
25.54
24.97
23.56
22.34
16.29
16.33
16.23
16.70
17.46
19.02
Forward Rate of Return (Yacktman) %
59.40
32.60
26.87
21.31
24.32
14.12
12.76
24.75
29.76
32.36
26.80
30.48
40.89
24.10
20.72
23.17
15.13
Shiller PE Ratio

Valuation and Quality

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
923
608
526
488
665
454
455
1,050
1,296
1,595
1,498
1,779
2,775
1,701
1,622
1,963
1,326
Market Cap
896
623
547
482
641
404
384
904
1,185
1,452
1,323
1,532
2,497
1,474
1,319
1,730
1,106
Enterprise Value
25.83
18.54
17.12
15.95
21.73
15.19
16.47
37.79
51.30
63.88
61.20
74.05
118
78.55
77.10
101
69.11
Month End Stock Price
-0.36
-1.76
-2.52
-1.16
-1.12
-0.68
-0.40
1.37
-0.37
0.03
1.24
3.79
4.86
3.21
5.36
2.95
2.86
Net Cash per Share
0.58
-0.75
-1.24
0.09
0.71
1.19
1.84
4.36
2.79
4.08
5.41
7.66
9.72
7.58
10.74
9.41
9.42
Net Current Asset Value
-0.04
-1.46
-2.06
-0.67
-0.48
-0.06
0.26
2.22
0.53
1.36
2.57
5.10
6.60
4.81
7.50
5.49
5.40
Net-Net Working Capital
12.47
15.29
17.49
18.98
20.39
25.26
30.18
36.96
45.67
52.19
60.80
68.65
75.65
82.82
86.17
91.31
88.29
Intrinsic Value: Projected FCF
16.41
22.60
19.74
21.02
24.16
27.91
32.56
35.71
40.14
48.17
55.52
58.50
69.83
71.47
84.22
95.21
94.24
Median PS Value
28.00
33.38
13.97
--
--
9.73
29.86
67.09
57.06
68.40
67.79
28.48
65.25
46.19
58.31
68.23
60.97
Peter Lynch Fair Value
6.22
5.49
4.21
7.40
9.60
11.81
15.08
21.22
20.67
26.98
31.71
27.13
40.92
37.40
49.66
48.03
46.59
Graham Number
15.91
19.87
23.23
25.32
26.43
32.44
39.69
49.33
60.33
66.86
79.07
86.49
94.74
110
123
134
136
Earnings Power Value (EPV)
20.59
11.65
8.48
11.64
11.22
8.19
7.96
10.02
10.75
11.04
10.44
10.95
14.84
10.47
8.89
10.74
8.58
Altman Z-Score
7.00
5.00
5.00
6.00
8.00
7.00
7.00
9.00
5.00
8.00
6.00
7.00
8.00
5.00
8.00
6.00
6.00
Piotroski F-Score
-3.36
-2.97
-3.10
-2.40
-1.88
-3.63
-2.92
-2.71
-2.74
-2.57
-2.79
-3.09
-2.63
-2.66
-2.65
-2.46
-2.62
Beneish M-Score
0.45
0.54
0.49
0.55
0.98
0.61
0.47
0.43
0.32
0.39
0.35
0.25
0.22
0.23
0.27
0.25
0.28
Scaled Net Operating Assets
-7.57
12.93
-0.66
3.47
12.95
-3.58
-6.77
0.47
-3.50
1.97
-1.06
-9.31
7.77
-14.26
-0.28
1.64
-0.01
Sloan Ratio %
1.52
1.14
0.97
1.28
1.39
1.78
1.87
2.39
1.76
1.86
2.01
2.41
2.64
2.42
2.53
2.27
2.30
Current Ratio
0.96
0.66
0.53
0.65
0.80
1.16
1.36
1.90
1.34
1.36
1.54
1.96
2.09
1.91
1.99
1.66
1.69
Quick Ratio
0.68
0.32
0.24
0.34
0.42
0.84
1.00
1.52
1.02
1.09
1.27
1.75
1.87
1.73
1.86
1.49
1.51
Cash Ratio
No Debt
N/A
60.60
83.40
726
8,584
4,909
116,712
900
9,444
312
2,881
5,232
2,215
348
2,986
1,894
Interest Coverage
26.22
30.80
24.74
18.50
22.54
21.73
24.63
45.71
59.09
88.06
74.13
75.60
136
119
91.20
106
108
Highest Stock Price
17.96
14.74
9.32
9.30
12.32
11.80
15.46
16.44
28.81
48.97
47.41
54.25
70.75
58.92
45.78
77.95
68.35
Lowest Stock Price
2.64
8.21
6.35
0.27
--
2.41
7.49
-0.47
9.02
1.15
1.97
1.88
1.90
8.11
2.85
7.82
6.06
Shares Buyback Ratio %
4.05
12.57
7.44
0.34
2.56
7.37
15.00
1.72
10.71
3.83
4.31
2.81
3.80
8.82
3.52
9.06
10.23
Buyback Yield %
22.09
26.11
7.92
6.68
14.68
15.08
16.34
16.31
14.21
20.70
15.26
5.52
13.86
-3.66
14.81
9.26
3.69
YoY Rev. per Sh. Growth
11.11
19.55
-29.66
17.30
31.80
13.99
36.50
24.94
0.72
28.21
11.14
-36.59
102
-13.87
32.88
-2.22
-11.02
YoY EPS Growth
10.51
19.46
-24.66
14.11
26.89
14.48
30.22
23.04
2.92
27.20
5.16
0.25
38.57
-10.05
24.28
0.30
-6.54
YoY EBITDA Growth
60.69
36.15
15.10
-0.03
2.78
5.97
13.39
24.09
20.27
19.08
16.99
11.32
12.77
10.45
9.95
11.95
10.30
5-Year EBITDA Growth Rate
36.11
33.47
32.10
30.68
31.06
30.72
29.09
27.39
26.44
25.46
24.19
24.35
24.11
22.64
21.16
20.15
19.35
Shares Outstanding (Basic Average)
35.72
32.78
30.70
30.62
30.62
29.88
27.64
27.77
25.27
24.98
24.49
24.02
23.57
21.66
21.04
19.39
19.19
Shares Outstanding (EOP)
1.06
0.06
0.16
0.79
0.85
1.25
0.88
1.27
2.22
1.00
1.08
0.02
0.64
0.48
0.96
1.07
1.10
Beta
03/08/07
03/13/08
03/06/09
03/17/10
03/14/11
03/14/12
03/11/13
03/13/14
03/17/15
03/01/16
03/01/17
02/28/18
02/26/19
02/25/20
02/09/21
03/01/22
  Filing Date
03/13/08
03/06/09
03/17/10
03/14/11
03/11/13
03/13/14
03/17/15
03/01/16
03/01/17
02/28/18
02/26/19
02/25/20
03/02/21
03/01/22
03/01/22
03/01/22
  Restated Filing Date
02/09/10
02/08/12
02/06/13
02/05/14
02/11/15
02/10/16
02/08/17
02/06/18
02/05/19
02/05/20
02/09/21
02/09/22
  Earnings Release Date
--
511
475
414
410
384
370
330
317
294
288
277
261
260
--
--
-- Number of Shareholders
889
956
948
930
1,240
1,290
1,330
1,480
1,527
1,664
1,788
1,810
1,911
1,909
1,943
1,978
1,978
Number of Employees
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  May 20, 2022
Usana Health Sciences Inc (NYSE:USNA)
www.gurufocus.com/stock/NYSE:USNA

Explanation

1. Predictability Rank

GuruFocus Predictability Rank is a proprietary ranking of the consistency of a business. We rank the predictability of companies based on the consistency of their revenue per share and EBITDA (earnings before interest, tax, depreciation and amortization) per share over the past 10 fiscal years. Our study found that there is a strong correlation between the stock performance and the predictability of a business. Over the long term, companies with higher predictability also have better stock performance.

The rank is from 1-star to 5-star, with 5-star as the best.

2. Financial Strength

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:

  1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
  2. Debt to revenue ratio. The lower, the better.
  3. Altman Z-Score.

The rank is from 1 to 10, with 10 as the highest.

A Financial Strength rank of 8 or above indicates good financial strength; between 4-7 indicates fair financial strength; 3 or below means poor financial strength.

3. Profitability Rank

GuruFocus Profitability Rank indicates how profitable a company is and how likely it is that the company's business will stay that way. It is based on these factors:

  1. Operating Margin %.
  2. Piotroski F-Score.
  3. Trend of the Operating Margin percentage (five-year average). A company with an uptrend in profit margin will have a higher rank.
  4. Consistency of the profitability.
  5. Predictability Rank.

The rank is from 1 to 10, with 10 as the highest.

A Profitability Rank of 8 or above indicates good profitability; between 4-7 indicates fair profitability; 3 or below means poor profitability.

4. Peter Lynch Chart

In Peter Lynch's excellent book, "One Up on Wall Street," he used many charts to illustrate the valuation of stocks. “A quick way to tell if a stock is overpriced is to compare the price line to the earnings line. If you bought familiar growth companies – such as Shoney’s, The Limited, or Marriott – when the stock price fell well below the earnings line, and sold them when the stock price rose dramatically above it, the chances are you’d do pretty well.”

The original Peter Lynch Chart does have limitations due to the right side price scale is pre-set at 15 times the earnings scale on the left side. When the stock price and earnings line coincide, the price-to-earnings ratio is always 15 times. Instead of using the fixed PE Ratio of 15, our approach is using 15-year historical median PE without NRI Ratio for each stock.

The Peter Lynch Chart with earnings line at median PE without NRI ratio works well for the companies with steady growth and earnings trends, or the stalwarts, as coined by Lynch. These companies tend to be found in sectors such as consumer staples, healthcare, and utilities, where the consumption of the product or service is relatively independent of economic conditions. It does not work well with the sectors that are cyclical: industrials, chemicals, durable goods, and so forth.

5. GF Value

Based on the relationship between the current stock price and the GF Value, GuruFocus provides the following 6 evaluations:

  1. Possible Value Trap, Think Twice
  2. Significantly Overvalued
  3. Modestly Overvalued
  4. Fairly Valued
  5. Modestly Undervalued
  6. Significantly Undervalued
There is only a sufficient margin of safety when the stock is undervalued.

Disclaimer

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