olivLaw · US equity research
Nu Skin Enterprises, Inc. NUS
Wholesale-Drugs, Proprietaries & Druggists' Sundries · SIC 5122 · Vertical: Wholesale-Drugs, Proprietaries & Druggists' Sundries (SIC 5122)
Nu Skin Enterprises sells premium beauty and wellness products through direct selling in nearly 50 markets, and revenue reached 1.5 billion USD in fiscal 2025. In 2026 the company is in a difficult stretch, with sharp sales declines and a lowered annual outlook, which makes its business model worth examining.
At the close of 04 Nov 2026, Nu Skin Enterprises, Inc. (NUS) stock was 4.99 USD (+6.17% on the day), with market capitalisation 242.9 m USD, dividend yield 7.01%, beta 0.90, 52-week range 4.53–11.54 USD. Latest reported quarter (Q2 2026): revenue of 320.1 m USD (−17.1% YoY), net income of -249.8 m USD (−1,282.8% YoY), diluted EPS -5.14 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 56.9
- strong (55–70)
- Bollinger (20, 2)
- 4.54 – 5.19
- in the upper half of the band · %B 0.69 · band width 13.3%
- SMA 50 / 200
- 4.77 / 6.33
- mixed trend
- MACD (12, 26, 9)
- -0.00 / 0.00
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +7.8% | −1.1% | +8.9 pp | — |
| 3 months | −4.4% | −0.5% | −4.0 pp | — |
| 6 months | −32.0% | +4.4% | −36.4 pp | — |
| Year to date | −48.1% | +12.3% | −60.4 pp | — |
| 1 year | −52.8% | +13.5% | −66.4 pp | +8.1% |
| 3 years | −72.3% | +76.4% | −148.7 pp | +46.5% |
| 5 years | −88.6% | +63.7% | −152.3 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 430.1 m | 445.6 m | 364.5 m | 386.1 m | 364.2 m | 370.3 m | 320.6 m | 320.1 m |
| Cost of revenue | 128.7 m | 166.4 m | 117.5 m | 120.4 m | 107.5 m | 108.3 m | 106.1 m | 101.8 m |
| Gross profit | 301.5 m | 279.1 m | 247.0 m | 265.7 m | 256.7 m | 262.0 m | 214.5 m | 218.3 m |
| Operating income | 18.2 m | -53.1 m | -9.9 m | 30.8 m | 21.6 m | 23.2 m | 4.0 m | -59.3 m |
| Depreciation & amortisation | 17.3 m | 16.4 m | 14.2 m | 13.1 m | 12.1 m | 12.9 m | 12.3 m | 12.7 m |
| Interest expense | 6.5 m | 5.9 m | 3.3 m | 2.5 m | 4.1 m | 4.0 m | 4.3 m | 3.3 m |
| Pre-tax income | 13.3 m | -57.8 m | 134.6 m | 27.4 m | 16.0 m | 18.2 m | 2.6 m | -63.2 m |
| Income tax | 5.0 m | -21.7 m | 27.1 m | 6.3 m | -1.1 m | 3.7 m | 763.0 k | 186.6 m |
| Net income | 8.3 m | -36.1 m | 107.5 m | 21.1 m | 17.1 m | 14.5 m | 1.8 m | -249.8 m |
| Diluted EPS | 0.17 | -0.73 ≈ | 2.14 | 0.43 | 0.34 | 0.29 ≈ | 0.04 | -5.14 |
| Operating cash flow | 31.4 m ≈ | 25.8 m | 389.0 k | 35.8 m ≈ | 27.5 m ≈ | 16.6 m | -3.9 m | 10.6 m ≈ |
| Capex | 8.6 m ≈ | 12.6 m | 13.6 m | 18.0 k ≈ | 9.9 m ≈ | 10.8 m | 13.7 m | 5.6 m ≈ |
| Dividends paid | 3.0 m ≈ | 3.0 m | 3.0 m | 3.0 m ≈ | 3.0 m ≈ | 2.9 m | 2.9 m | 2.9 m ≈ |
| Share repurchases | 0 ≈ | 0 | 5.0 m | 0 ≈ | 5.0 m ≈ | 10.0 m | 5.0 m | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.7 bn | 2.4 bn | 2.6 bn | 2.7 bn | 2.2 bn | 2.0 bn | 1.7 bn | 1.5 bn |
| Revenue YoY | +17.5% | −9.7% | +6.7% | +4.4% | −17.4% | −11.5% | −12.0% | −14.3% |
| Net income | 121.9 m | 173.6 m | 191.4 m | 147.3 m | 104.8 m | 8.6 m | -146.6 m | 160.2 m |
| Net income YoY | −5.8% | +42.4% | +10.3% | −23.0% | −28.9% | −91.8% | −1,805.6% | unavailable |
| Diluted EPS | 2.16 | 3.10 | 3.63 | 2.86 | 2.07 | 0.17 | -2.95 | 3.18 |
| Diluted EPS YoY | −8.5% | +43.5% | +17.1% | −21.2% | −27.6% | −91.8% | −1,835.3% | unavailable |
| net % | 4.5% | 7.2% | 7.4% | 5.5% | 4.7% | 0.4% | -8.5% | 10.8% |
| Free cash flow | 132.4 m | 111.9 m | 315.3 m | 73.0 m | 49.0 m | 60.1 m | 70.2 m | 46.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 238.6 m USD
- Financial debt
- 224.2 m USD
- Net debt
- -14.4 m USD
- Equity
- 805.2 m USD
- Total assets
- 1.4 bn USD
- Debt / equity
- 0.28x
- Current ratio
- 2.08x
- ROE
- 22.0%
- ROA
- 11.1%
- FCF margin
- 3.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 2.6 bn | 2.7 bn | 2.2 bn | 2.0 bn | 1.7 bn | 1.5 bn | SEC (XBRL)· 13 Feb 2026verified |
| Cost of revenue | 658.0 m | 675.2 m | 630.9 m | 611.9 m | 550.2 m | 453.8 m | SEC (XBRL)· 13 Feb 2026verified |
| Gross profit | 1.9 bn | 2.0 bn | 1.6 bn | 1.4 bn | 1.2 bn | 1.0 bn | SEC (XBRL)· 13 Feb 2026verified |
| Research & development | 23.3 m | 27.2 m | 23.3 m | 22.6 m | 13.0 m | 10.8 m | SEC (XBRL)· 13 Feb 2026verified |
| Operating income | 257.6 m | 234.0 m | 110.8 m | 48.3 m | -151.6 m | 65.8 m | SEC (XBRL)· 13 Feb 2026verified |
| Depreciation & amortisation | 74.0 m | 76.3 m | 72.5 m | 70.9 m | 69.8 m | 52.3 m | SEC (XBRL)· 13 Feb 2026verified |
| EBITDA | 331.6 m ≈ | 310.3 m ≈ | 183.4 m ≈ | 119.2 m ≈ | -81.8 m ≈ | 118.0 m ≈ | SEC (XBRL)· 13 Feb 2026derived |
| Interest expense | 13.1 m | 11.0 m | 13.5 m | 25.6 m | 26.4 m | 13.9 m | SEC (XBRL)· 13 Feb 2026verified |
| Pre-tax income | 256.2 m | 232.5 m | 89.0 m | 26.6 m | -175.1 m | 196.2 m | SEC (XBRL)· 13 Feb 2026verified |
| Income tax | 64.9 m | 85.2 m | -15.8 m | 18.0 m | -28.5 m | 36.0 m | SEC (XBRL)· 13 Feb 2026verified |
| Net income | 191.4 m | 147.3 m | 104.8 m | 8.6 m | -146.6 m | 160.2 m | SEC (XBRL)· 13 Feb 2026verified |
| Diluted EPS | 3.63 | 2.86 | 2.07 | 0.17 | -2.95 | 3.18 | SEC (XBRL)· 13 Feb 2026verified |
| Weighted average diluted shares | 52.8 m | 51.4 m | 50.5 m | 49.9 m | 49.7 m | 50.3 m | SEC (XBRL)· 13 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 402.7 m | 339.6 m | 264.7 m | 256.1 m | 186.9 m | 238.6 m | SEC (XBRL)· 13 Feb 2026verified |
| Receivables | 63.4 m | 41.3 m | 47.4 m | 58.7 m | 50.8 m | 39.5 m | SEC (XBRL)· 13 Feb 2026verified |
| Inventories | 314.4 m | 399.9 m | 346.2 m | 280.0 m | 190.2 m | 178.6 m | SEC (XBRL)· 13 Feb 2026verified |
| Current assets | 903.2 m | 873.0 m | 759.9 m | 701.9 m | 538.6 m | 547.7 m | SEC (XBRL)· 13 Feb 2026verified |
| Property, plant & equipment, net | 468.2 m | 453.7 m | 444.8 m | 433.0 m | 379.6 m | 377.2 m | SEC (XBRL)· 13 Feb 2026verified |
| Goodwill | 203.0 m | 206.4 m | 206.4 m | 218.2 m | 83.6 m | 83.6 m | SEC (XBRL)· 13 Feb 2026verified |
| Intangibles (excl. goodwill) | 89.5 m | 77.0 m | 66.7 m | 95.3 m | 74.3 m | 42.6 m | SEC (XBRL)· 13 Feb 2026verified |
| Total assets | 2.0 bn | 1.9 bn | 1.8 bn | 1.8 bn | 1.5 bn | 1.4 bn | SEC (XBRL)· 13 Feb 2026verified |
| Accounts payable | 66.2 m | 50.0 m | 54.0 m | 43.1 m | 34.9 m | 26.2 m | SEC (XBRL)· 13 Feb 2026verified |
| Short-term debt | 30.0 m | 107.5 m | 25.0 m | 25.0 m | 30.0 m | 20.0 m | SEC (XBRL)· 13 Feb 2026verified |
| Long-term debt | 305.4 m | 268.8 m | 377.5 m | 478.0 m | 363.6 m | 204.2 m | SEC (XBRL)· 13 Feb 2026verified |
| Current liabilities | 542.9 m | 529.7 m | 359.2 m | 328.9 m | 296.6 m | 263.7 m | SEC (XBRL)· 13 Feb 2026verified |
| Total liabilities | 1.1 bn | 993.7 m | 923.7 m | 986.7 m | 817.5 m | 600.1 m | SEC (XBRL)· 13 Feb 2026verified |
| Equity | 894.3 m | 912.8 m | 897.3 m | 822.0 m | 651.5 m | 805.2 m | SEC (XBRL)· 13 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 379.1 m | 141.6 m | 108.1 m | 118.6 m | 111.7 m | 80.3 m | SEC (XBRL)· 13 Feb 2026verified |
| Capex | 63.8 m | 68.6 m | 59.1 m | 58.5 m | 41.6 m | 34.3 m | SEC (XBRL)· 13 Feb 2026verified |
| Free cash flow | 315.3 m ≈ | 73.0 m ≈ | 49.0 m ≈ | 60.1 m ≈ | 70.2 m ≈ | 46.0 m ≈ | SEC (XBRL)· 13 Feb 2026derived |
| Investing cash flow | -79.4 m | -88.7 m | -67.1 m | -134.5 m | -38.0 m | 170.7 m | SEC (XBRL)· 13 Feb 2026verified |
| Financing cash flow | -245.2 m | -104.7 m | -99.5 m | 10.7 m | -133.2 m | -202.4 m | SEC (XBRL)· 13 Feb 2026verified |
| Dividends paid | 78.4 m | 76.3 m | 77.0 m | 77.6 m | 11.9 m | 11.8 m | SEC (XBRL)· 13 Feb 2026verified |
| Share repurchases | 144.3 m | 80.4 m | 70.0 m | 13.0 m | 0 | 20.0 m | SEC (XBRL)· 13 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 53 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 242.9 m USD
Key indicators
Coverage and freshness
Score by group
- Valuation66
- Returns67
- Quality14
- Balance sheet68
- Growth50
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 4.60 – 14.34 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)6.33 – 12.01 (Mid 8.28)WACC 7.3% · starting FCFF 24.0 m USD · terminal value share of EV 79%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): -22.8%
- Peers: EV/EBITDA10.43 – 14.34 (Mid 13.46)4 companies used · median multiple 17.2x · quartiles 13.4x – 18.2xCAH, COR, HLF, MCK
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)4.60 – 6.19 (Mid 5.28)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 53/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -1.3% | 0 (on a fixed band) | 13% |
| Net margin · Quality | -15.7% | 38 (vs peers) | 8% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -12.6% | 0 (on a fixed band) | 10% |
| EPS CAGR 3Y · Growth | 15.4% | 100 (on a fixed band) | 10% |
| Net debt / EBITDA · Balance sheet | 0.6x | 97 (on a fixed band) | 13% |
| Interest coverage · Balance sheet | -0.7x | 0 (on a fixed band) | 8% |
| Current ratio · Balance sheet | 2.0x | 99 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | 6.7x | 75 (on a fixed band) | 13% |
| FCF yield · Valuation | 4.4% | 55 (on a fixed band) | 10% |
| Shareholder yield (distributions) · Returns | 13.0% | 100 (on a fixed band) | 8% |
| Payout ratio (FCF) · Returns | 108.1% | 17 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet68/100 · 3/3 factors with a value
- Growth50/100 · 2/2 factors with a value
- Quality14/100 · 2/3 factors with a value
- Returns67/100 · 2/2 factors with a value
- Valuation66/100 · 2/3 factors with a value
Memo
NU SKIN ENTERPRISES, INC. (NUS). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 1.5 bn USD in 2025; YoY growth -14.3%; net margin -15.7%; ROE -32.5%; net debt/EBITDA 0.6x.
The estimated value range is 6.33–12.01 USD per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 8.28 USD, the price of 4.99 USD leaves a potential of 66.0% (value / price − 1) and a margin of safety of 39.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 53/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- EPS CAGR 3Y: 15.4%
- Net debt / EBITDA: 0.6x
- Current ratio: 2.0x
- EV/EBITDA: 6.7x
- Shareholder yield (distributions): 13.0%
- The price is below the estimated value range
What contradicts it
- ROIC: -1.3%
- Revenue CAGR 3Y: -12.6%
- Interest coverage: -0.7x
- Payout ratio (FCF): 108.1%
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): FCF conversion, P/E (TTM).
Versus the vertical median
Wholesale-Drugs, Proprietaries & Druggists' Sundries (SIC 5122) · same industry (4-digit SIC) · compared with 8 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| MCKMcKESSON CORPORATION | 123.5 bn | 27.5 | — | 1.1% | +12.4% | +21% / +127% |
| CORCencora, Inc. | 67.6 bn | 26.3 | 104.3% | 0.8% | +9.3% | −4% / +74% |
| CAHCardinal Health, Inc. | 60.9 bn | 36.2 | — | 0.7% | +14.2% | +23% / +145% |
| HLFHerbalife Ltd. | 1.6 bn | 9.1 | — | 3.4% | +0.9% | +20% / +19% |
| NUSNu Skin Enterprises, Inc. | 242.9 m | — | -32.5% | -15.7% | −14.3% | −53% / −72% |
| COSMCosmos Health Inc. | 33.0 m | — | -104.0% | -33.1% | +19.9% | −49% / −69% |
| HKPDCellyan Biotechnology Co., Ltd | 30.2 m | — | -0.6% | -0.1% | +21.7% | +87% / unavailable |
| ESYNHwh International Inc. | 11.6 m | — | -88.9% | -680.0% | −30.8% | −4% / −97% |
| MEDSDataMeds AI, Inc. | 4.6 m | — | — | -1,100.3% | +28.7% | −95% / unavailable |
1- and 3-year price returns: for NUS from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Nu Skin Enterprises sells premium beauty and wellness products through direct selling in nearly 50 markets, and revenue reached 1.5 billion USD in fiscal 2025. In 2026 the company is in a difficult stretch, with sharp sales declines and a lowered annual outlook, which makes its business model worth examining.
SWOT
Strengths
- A premium product portfolio with scientific backing and a global direct selling network across many markets 1.
- The Rhyz investment brings diversification and vertical integration through manufacturing and related activities 1.
- The connected device platform and subscription programs provide consumer data and potential recurring revenue 1.
Weaknesses
- Revenue fell sharply in 2026, and the customer and affiliate base shrank in the second quarter 2.
- The company booked an asset impairment and a valuation allowance on deferred tax assets that weighed on quarterly results 2.
- Dependence on international markets exposes the company to currency swings and differing regulation 1.
Opportunities
Risks
- Shrinking customer and affiliate basehigh
The number of customers, paid affiliates and sales leaders fell in the second quarter of 2026, directly affecting revenue 2. If the trend continues, the annual outlook could be revised again.
- Regulation of earnings claimshigh
US authorities have proposed rules that could restrict earnings claims and compensation structures, affecting the business model 1. The timing and final form of the rules remain uncertain 1.
- Impairment and tax valuationmedium
Asset impairment and a valuation allowance on US deferred tax assets hit second quarter 2026 results 2. Further adjustments could follow if the outlook worsens.
- Currency and international exposuremedium
A large share of activity takes place outside the US, and currency swings and trade policy changes can alter reported revenue 1.
- Operations in Mainland Chinamedium
Operations in China are subject to intense government scrutiny, and regulatory changes could affect the local business model 1.
Investment thesis
What would need to be true (bull case)
- If the Prysm iO launch and the opening of India succeed, the company could regain growth in its customer and affiliate base 2.
- The weight of the ageLOC products and the subscription model could stabilize recurring revenue under better market conditions 1.
- Diversification through Rhyz and integrated manufacturing could improve margins if cost optimization continues 1.
What would break the thesis
- The fall in revenue and customers in 2026 shows that demand in key markets has weakened significantly 2.
- Asset impairment and the tax valuation allowance point to profitability problems that could persist 2.
- Stricter regulation of direct selling could reduce the company's ability to recruit and motivate affiliates 1.
What to watch
- Third-quarter results and delivery against the revenue guidanceQ3 2026
- Trend in the number of customers and paid affiliatesQ3 2026
- Timing of the full Prysm iO launch and the opening of the India market2027
- Final form of FTC rules on earnings claims in direct sellingnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Nu Skin Enterprises, Inc. develops and distributes a comprehensive line of premium beauty and wellness solutions in nearly 50 markets worldwide 1. The company operates in the direct selling channel, primarily using person-to-person marketing, including through social and digital platforms 1. Beyond its core business, it pursues adjacent growth through its strategic investment arm Rhyz Inc., formed in 2018 1.
The revenue mix depends heavily on international markets, as about 26% of revenue came from the United States in fiscal 2025 and the rest from abroad, with reported dollar results affected by currency swings 1. The company tracks Customers, Paid Affiliates and Sales Leaders as indicators of selling activity 1. Recent quarterly results have been hurt by a shrinking customer base 2.
The 2026 strategy centers on optimizing the business model, launching the Prysm iO platform and expanding into India, where full market opening has been pushed to the first half of 2027 2. Connected devices and the data they collect are presented as part of the strategy to personalize the consumer experience 1.
Segments
Market context
The company competes in premium beauty and wellness products sold through direct selling, a channel shaped by social commerce, influencer marketing and direct-to-consumer brands 1. In the first half of 2026 revenue fell 14.6% to 640.7 million USD in this market 2.
The regulatory environment is an important factor, because US authorities have issued notices and proposed rules on earnings claims in multi-level marketing, which could limit how sellers present the opportunity 1. Slower economies in key markets have been cited as a cause of the decline 2.
Trends
- Social commerce and affiliate marketingmixed
The convergence of social commerce, affiliate marketing and the gig economy is changing how direct selling attracts customers, and the company is adapting its digital tools for affiliates 1. The effect could be favorable if these tools raise retention, but it becomes a risk if they attract fewer customers.
- Connected devices and datatailwind
Connected devices such as Prysm iO collect data to personalize the experience and support a subscription model that could stabilize recurring revenue 1. A slower launch and a shift toward in-person assessment, however, show that adoption remains uncertain 2.
- Weaker consumer spending in key marketsheadwind
Difficult macroeconomic conditions in the company's markets have hurt consumer spending and customer acquisition, according to management 2. If this pressure persists, revenue could remain below historical levels.
- Regulation of direct sellingheadwind
Regulators, especially the US FTC, have increased scrutiny of earnings claims and compensation structures, and proposed rules remain in progress 1. This could require changes to the global sales compensation plan.
Competitive position
Management describes the markets in which the company operates as intensely competitive, and competitor strength may affect results 1. Competition comes from traditional beauty and supplement brands as well as fast-growing direct-to-consumer brands 1.
The company's advantage lies in its direct selling model, scientific research and connected devices, but these must remain attractive to affiliates and customers 1. Competitive pressure is visible in the fall in customers and revenue in the second quarter of 2026 2.
- Direct-to-consumer beauty and wellness brands
Companies that sell straight to consumers and compete for the same buyers of premium beauty and wellness products, as the company itself describes 1.
- Other direct selling companies
Companies in the same channel using person-to-person marketing that compete for affiliates and consumer attention 1.
- Traditional cosmetics and supplement brands
Manufacturers and retail distributors offering similar beauty and wellness products, where the company differentiates through scientific substantiation 1.
- Social commerce platforms and influencers
Digital channels and content creators that can capture the attention of consumers the company seeks through its affiliates 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report21 Aug 2026Departure or appointment of officers
- Quarterly report10 Aug 2026
- Current report10 Aug 2026Results of operations · Financial statements and exhibits
- Current report29 May 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Current report08 May 2026Departure or appointment of officers
- Quarterly report08 May 2026
- Current report07 May 2026Results of operations · Financial statements and exhibits
- Proxy statement03 Apr 2026
- Current report27 Mar 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Current report20 Mar 2026Departure or appointment of officers · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Nu Skin Enterprises, Inc. · 13 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Nu Skin Enterprises, Inc. · 10 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Nu Skin Enterprises, Inc. · 10 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.