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Herbalife (HLF) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 2, 2026 · Herbalife (HLF) Q3 2026 earnings results →
Q3 2026 Revenue up 6% year over year to $1.4B · 4¢ of every $1 of revenue kept as net profit · operating margin 10.3%
Herbalife made $1.4B in Q3 2026 (+6% Y/Y). Operating margin 10.3%, net earnings $58.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 2, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.4B in Q3 2026, up 6% year over year and up 2% from the previous quarter.
Gross margin was 77.3%, down 0.4 points from Q3 2025. Operating profit was $0.14B, a 10.3% margin (up 0.4 points year over year). Of the extra revenue versus Q3 2025, 17% reached operating profit, above the 10% margin then. Operating expenses grew 5% against revenue growth of 6%. Net earnings were $0.06B, up 36% year over year ($0.06B including minority interests, which bore $1.7M of losses). The effective tax rate was 46.4%.
Operating cash flow was $0.15B (up 9% year over year), 265% of net income including minority interests. Non-cash charges added back $0.03B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.06B. Capital expenditures of $0.02B left free cash flow of $0.13B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 2, 2026 | $1.4B | +6% | 10.3% | $58.8M | $151M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $1.3B | +5% | 9.7% | −$26.5M | $32.9M |
| Q1 2026 | 10-Q | May 6, 2026 | $1.3B | +8% | 10.5% | $61.2M | $114M |
| Q4 2025 | 10-K | Feb 18, 2026 | $1.3B | +6% | 7.8% | $85.1M | $98.3M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $1.3B | +3% | 9.9% | $43.1M | $139M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $1.3B | -2% | 10.5% | $49.2M | $96.0M |
| Q1 2025 | 10-Q | Apr 30, 2025 | $1.2B | -3% | 10.1% | $50.4M | $200K |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Herbalife
Herbalife is a global health and wellness company, that, for 46 years, has empowered millions of people to reach their nutrition, health and wellness goals using our science-backed products and the individual coaching provided by our network of independent members. We are the number one active and lifestyle nutrition brand in the world and sell the number one protein shake in the world. We provide weight management, targeted nutrition, energy, sports and fitness, and outer nutrition products in 95 markets around the world. We use a direct-selling business model to distribute and market our nutrition products to and through a global network of Members. Members include consumers who purchase products for their own personal use and distributors who wish to resell products or build a sales organization.
In its own words, from its 10-K, filed Feb 18, 2026.
Herbalife against its Wholesale-Drugs, Proprietaries & Druggists' Sundries peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +6% against the peers' median +5%. Operating margin: 10.3% against the peers' median 1.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| HLF Herbalife | Q3 2026 | $1.4B | +6% | 10.3% |
| MCK McKesson | Q2 FY27 | $111.0B | +8% | 1.4% |
| COR Cencora | Q3 FY26 | $84.8B | +5% | 1.3% |
| CAH Cardinal Health | Q1 FY27 | $67.5B | +6% | 1.1% |
| NUS Nu Skin Enterprises | Q3 2026 | $311M | -15% | 1.6% |
| COSM Cosmos Health | Q2 2026 | $19.0M | +29% | -15.4% |
| MEDS DataMeds AI | Q2 2026 | $1.8M | -77% | -412.7% |
| STEK Stemtech | Q2 2026 | $629K | -10% | -20.0% |
| ESYN HWH International | Q2 2026 | $64K | -79% | 328.1% |
Source: Herbalife 10-Q on SEC EDGAR · CIK 1180262 · Wholesale-Drugs, Proprietaries & Druggists' Sundries
Guidance and outlook
More on HLF
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results