What is Herbalife's net debt?

Herbalife (HLF) reported net debt of $1.73B in Q1 2026.

How has Herbalife's net debt changed year-over-year?

Herbalife's net debt decreased by 16.4% year-over-year, from $2.07B to $1.73B.

What is the long-term trend for Herbalife's net debt?

Over 5 years (2020 to 2025), Herbalife's net debt has grown at a 2.4% compound annual growth rate (CAGR), from $1.63B to $1.83B.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Herbalife HLF Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

Cabot CorporationCBT

1.1×-0.3×

Travel + LeisureTNL

6×+1.6×

UnifirstUNF

-0.2×-0.1×

HES

Hess MidstreamHESM

3.1×-0.1×

TDA

USA TODAY Co., Inc.TDAY

8.8×+4.2×

Resolute Holdings Management RHLD

11.8×+10.5×

Other financials

Income statement

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Revenue$1.3B+7.8%

Gross profit$1.0B+7.3%

Operating income$138.4M+12.7%

Net income$61.9M+22.8%

EPS (diluted)$0.57+16.3%

Balance sheet

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Cash & equivalents$451.2M+37.0%

Total debt$2.2B-9.1%

Total equity-$441.5M+40.0%

Total assets$2.9B+7.1%

Cash flow

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Operating cash flow$113.8M+56,800%

CapEx$10.9M-40.4%

Free cash flow$102.9M+669%

Valuation

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Market cap$1.29B+57.9%

Enterprise value$3.02B+4.6%

P/E5.4×+2.5×

P/S0.3×+0.1×

Profitability

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Gross margin77.8%-0.3pp

Operating margin9.7%+0.9pp

Net margin4.7%-1.0pp

FCF margin7.3%+4.0pp

Returns & leverage

See full

Return on equity219.8%—

Debt / equity10.4×—

Current ratio1.2×+0.3×

Where this comes from

Calculated from Herbalife’s reported figures.

$2.2Btotal debt−$451.2Mcash and equivalents=$1.73B

The official record: Herbalife’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Herbalife's net debt?: Herbalife (HLF) reported net debt of $1.73B in Q1 2026.
How has Herbalife's net debt changed year-over-year?: Herbalife's net debt decreased by 16.4% year-over-year, from $2.07B to $1.73B.
What is the long-term trend for Herbalife's net debt?: Over 5 years (2020 to 2025), Herbalife's net debt has grown at a 2.4% compound annual growth rate (CAGR), from $1.63B to $1.83B.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.