A

Nature's Sunshine Products, Inc — Earnings Quality Grade A

NATR · Consumer Defensive

Strong financial health

Revenue
$480M
2025
Net Income
$20M
2025
Gross Margin
72.4%
Free Cash Flow
$29M
01

Screening Summary

16
Passed
1
Watch
0
Failed
-2.86
M-Score

Management Signals

No recent CEO, CFO, board, or accounting leadership signals found in SEC 8-K filings.
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 7 days, change -1 days YoY

A2AR vs Revenue Growth

AR growth -9.2% vs revenue growth 5.7%

A3Revenue vs CFFO

Revenue 5.7%, CFFO 39.6%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

Inventory 14.9% vs COGS 2.1%. Normal

B2CapEx vs Revenue

CapEx growth -40.9% vs revenue 5.7%. Normal

!
B3SG&A Ratio

SG&A/Gross Profit = 92.9%, exceeds 70%

B4Gross Margin

Gross margin 72.4%, change +1.0pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 1.81. Profits backed by cash

C2Free Cash Flow

FCF $0.0B, FCF/NI = 1.48

C3Accruals Ratio

Accruals ratio = -6.1%. Low accruals

C4Cash vs Debt

Cash $0.1B covers debt $0.0B

04

Balance Sheet Health

D1Goodwill + Intangibles

No goodwill. Clean balance sheet

D2Leverage

Debt/EBITDA = 0.4x. Healthy

D3Soft Asset Growth

Other assets 14.3% vs revenue 5.7%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

No goodwill

06

Manipulation Score

F1Beneish M-Score

M-Score = -2.86 (< -2.22). Unlikely manipulator

Portfolio monitoring

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04

Beneish M-Score

Manipulation Probability-2.86
-4.0 Clean-2.22 Grey-1.78 Danger0
0.859
DSRI
AR growing faster than revenue?
0.987
GMI
Gross margin declining?
1.051
AQI
Asset quality deteriorating?
1.057
SGI
Revenue growth rate
0.992
DEPI
Depreciation slowing?
1.003
SGAI
SG&A ratio changing?
-0.0605
TATA
Accruals level
1.103
LVGI
Leverage increasing?
05

Altman Z-Score

5.95
Safe Zone
0 Distress1.102.605.0+ Safe
0.3841
Liquidity
0.2946
Cumulative profit
0.1145
Operating efficiency
1.6221
Leverage

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25