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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#2421
Positioning
Market Dominance
Manufacturing
Pharmaceutical Products
$521M
Kevin G. Guest
USANA Health Sciences, Inc. develops, manufactures, and sells science-based nutritional and personal care products. USANA nutritional products comprise essentials/CellSentials, such as vitamin and mineral supplements that provide a foundation of total body nutrition for various age groups. Celavive, a skin care regimen for various skin care types and ethnicities; and other products for prenatal, infant, and young child age groups.
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X-AXIS: EV/EBITDA (LOWER = CHEAPER) | Y-AXIS: ROE (HIGHER = ELITE) | RED CIRCLE = USNA ANALYSIS TARGET
| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$UL UNILEVER PLC | 78 | 96 | 98 | 59 | - | - | 28.5% | 8.0% | 100.0% | 100.0% | 10.4% | -4.6% | 3.3% | 0.0x | $141.8B | VS | |
$ASML ASML HOLDING NV | 77 | 89 | 86 | 83 | - | - | 46.1% | 16.6% | 51.3% | 31.9% | 26.8% | -4.0% | 1.0% | 25.0x | $272.1B | VS | |
$ESLT ELBIT SYSTEMS LTD | 76 | 81 | 87 | 85 | - | - | 10.3% | 3.1% | 24.1% | 7.2% | 4.7% | 14.3% | 0.8% | 25.0x | $11.4B | VS | |
$MT ArcelorMittal | 75 | 71 | 98 | 85 | - | - | 2.2% | 1.5% | 9.3% | 5.3% | 2.2% | -8.5% | 2.2% | 16.0x | $18.9B | VS | |
$AMAT APPLIED MATERIALS INC /DE | 75 | 85 | 87 | 84 | 20.9x | 13.6x | 35.5% | 19.8% | 48.7% | 29.2% | 24.7% | 4.4% | 0.8% | 32.0x | $181.9B | VS | |
$SIMO Silicon Motion Technology CORP | 75 | 84 | 86 | 85 | - | - | 11.8% | 8.8% | 45.9% | 11.3% | 11.1% | 25.7% | 3.7% | 0.0x | $1.8B | VS | |
$CODA Coda Octopus Group, Inc. | 74 | 83 | 90 | 79 | 16.3x | 11.9x | 7.6% | 7.0% | 66.5% | 17.1% | 15.6% | 39.0% | 0.0% | 0.0x | $115M | VS | |
$GSK GSK plc | 74 | 84 | 90 | 70 | - | - | 22.6% | 4.9% | 71.2% | 12.8% | 9.4% | 1.7% | 5.9% | 124.0x | $72.1B | VS | |
$EFXT Enerflex Ltd. | 74 | 80 | 91 | 83 | - | - | 3.0% | 1.1% | 20.9% | 7.3% | 1.3% | 3.0% | 0.9% | 67.0x | $1.2B | VS | |
$BUD Anheuser-Busch InBev SA/NV | 74 | 84 | 97 | 63 | - | - | 8.2% | 3.5% | 55.3% | 25.9% | 12.4% | 0.7% | 1.7% | 0.0x | $87.0B | VS | |
$USNA USANA HEALTH SCIENCES INC | 47 | 62 | 48 | 28 | 61.8x | 5.9x | 1.2% | 0.9% | 78.0% | 3.6% | 0.5% | 6.7% | 0.0% | 0.0x | $521M | ||
| SECTOR BENCH | - | - | - | - | - | 22.3x | 11.5x | -2.5% | -0.1% | 42.5% | 1.3% | -0.2% | 5.9% | 0.0% | 0.2x | - | REF |
USANA HEALTH SCIENCES INC (USNA) receives a "Reduce" rating with a composite score of 47.4/100. It ranks #2421 out of 7,333 stocks in our coverage universe and carries a 2-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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YOY expansion rate
Core pricing power
Operating efficiency
Bottom-line conversion
Equity capital efficiency
Asset base utilization
Financial leverage load
Direct cash return
Kevin G. Guest
Chief Executive Officer
Labor Force
1,900
62
25
65
Audit Verdict: Average governance indicators based on financial metrics.
No recent insider transactions available for USNA
Lagging peers — losers tend to keep underperforming
Fair valuation relative to peers
High profitability & efficiency — strong quality floor supports entry
Low volatility — smoother ride and historically better risk-adjusted returns
Aggressive spending — empire-building risk, dilutive growth
Mid-range overall rating
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Relative valuation derived from Manufacturing sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
Projection based on user-defined inputs. Re-calculated daily against current market data.
Reverse DCF Framework — Mauboussin Methodology
Institutional-grade Reverse DCF analysis. This model identifies the growth hurdles embedded in current market prices. When implied growth is significantly lower than historical or projected rates, a margin of safety may exist. Re-audited daily.
No analyst ratings for USNA.
View All RatingsMaterial decline in asset turnover efficiency detected
ROE proxy 1.2% (sector -2.5%)
GM 78% vs sector 43%, OM 4% vs sector 1%
Capital turnover N/A
Rev growth 7%, 11yr history
Interest coverage 25.0x, Net debt/EBITDA -15.8x
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
USANA HEALTH SCIENCES INC receives a Reduce rating from our analysis, with a composite score of 47.4/100 and 2 out of 5 stars, ranking #2421 out of 7,333 stocks. USNA's factor profile shows weakness across multiple dimensions, suggesting the stock may underperform going forward. Existing holders may want to consider trimming positions or tightening stop-losses.
With a quality score of 62/100, USNA shows adequate but unremarkable business quality. The company reports a return on equity of 1.2% (sector avg: -2.5%), gross margins of 78.0% (sector avg: 42.5%), net margins of 0.5% (sector avg: -0.2%). This suggests the company generates acceptable returns but may lack the competitive positioning or operational efficiency to stand out from peers.
With a value score of 48/100, USNA appears somewhat expensive relative to its fundamentals. Key valuation metrics include a P/E ratio of 61.80x, an EV/EBITDA of 5.86x, a P/B ratio of 0.75x. Investors paying a premium here are likely betting on above-average growth or margin expansion to justify current prices.
USANA HEALTH SCIENCES INC's investment score of 25/100 suggests limited reinvestment activity. Key growth metrics include revenue growth of 6.7% vs. a sector average of 5.9% and a return on assets of 0.9% (sector: -0.1%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
USANA HEALTH SCIENCES INC is experiencing notably weak momentum with a score of just 28/100. The stock has underperformed its peers and is trending below major moving averages. Revenue growth stands at 6.7% year-over-year, while a beta of 0.80 reflects its sensitivity to broader market moves. While deep momentum weakness can occasionally present value opportunities, it often reflects deteriorating fundamentals or structural headwinds that may persist.
USNA shows good financial stability with a score of 65/100. Key stability metrics include a beta of 0.80 and a debt-to-equity ratio of 0.00x (sector avg: 0.2x). This suggests manageable leverage and moderate price volatility, making it appropriate for investors seeking a balance between growth potential and capital preservation.
The short interest score of 51/100 for USNA suggests somewhat elevated bearish positioning by institutional traders. Specific risk factors include small-cap liquidity risk. With a $521M market cap (small-cap), USANA HEALTH SCIENCES INC may experience above-average volatility. Investors should consider whether the short thesis has merit or if it creates a potential short-squeeze opportunity.
USANA HEALTH SCIENCES INC is a small-cap company in the Manufacturing sector, ranked #0 of 50 in its sector (100th percentile) and #2421 of 7,333 overall (67th percentile). Key comparisons include ROE of 1.2% exceeding the -2.5% sector median and operating margins of 3.6% above the 1.3% sector average. This top-quartile standing reflects exceptional competitive strength relative to Manufacturing peers.
While USNA currently exhibits a REDUCE profile, superior opportunities exist within the MANUFACTURING sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
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Improvement in Investment (25) would have the largest impact on the composite score.
EV/EBITDA 49% BELOW SECTOR MEDIAN (FAVORABLE)
ROE 149% BELOW SECTOR MEDIAN
Gross Margin 84% ABOVE SECTOR MEDIAN (FAVORABLE)
AUDIT DATA AS OF SEP 27, 2025 (Q2 FY2025)
We rate USANA HEALTH SCIENCES INC (USNA) as a Reduce with a composite score of 47.4/100 at a current price of $21.66. The quantitative profile shows weakness across multiple dimensions, suggesting limited upside potential and elevated risk of underperformance relative to peers over the next 12 months.
The rating is primarily driven by strength in stability (65th percentile) and quality (62th percentile), which together account for the majority of the composite score. Offsetting weakness in investment (25th percentile) and momentum (28th percentile) tempers our overall conviction. We assign a Narrow Moat rating (47/100), Low uncertainty, and Standard capital allocation.
Key items to watch: momentum to confirm whether the current price trend has legs. Any material change in these dynamics could warrant a reassessment of our rating. The moat trend is stable, which suggests the competitive landscape is stable for now.
USANA HEALTH SCIENCES INC holds a top-quartile position (#0 of 50) within the Manufacturing sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 47.4/100 places it at rank #2421 in our full 7,333-stock universe. At $521M in market capitalization, USANA HEALTH SCIENCES INC is a small-cap player in the Manufacturing space, which limits certain scale advantages but may allow for more agile strategic execution.
Revenue is growing at 7%, though momentum at the 28th percentile suggests the market has not yet fully recognized this trajectory. This potential disconnect between fundamental improvement and market recognition could represent an opportunity for patient investors if the growth trend persists.
The margin cascade tells an important story: gross margins of 78% (+35.5pp vs sector) narrow to operating margins of 4% (+2.3pp vs sector) and net margins of 0.5%, yielding a gross-to-net conversion rate of 1%. The significant margin erosion from gross to net suggests elevated operating expenses, high interest costs, or other structural drags that warrant monitoring.
At a current price of $21.66, USANA HEALTH SCIENCES INC is trading near fair value based on current fundamentals. Our value factor score of 48/100 reflects a composite assessment across multiple valuation metrics including price-to-earnings, price-to-book, EV/EBITDA, and price-to-sales ratios relative to both sector peers and the broader market. Valuation metrics are mixed, with no strong signal of mispricing in either direction.
The stock currently trades at a P/E of 61.8x (a 178% premium to the sector median of 22.3x), EV/EBITDA of 5.9x (discounted to peers), P/B of 0.8x, P/S of 0.4x. The above-sector P/E multiple suggests the market is pricing in superior growth or quality, which our analysis partially supports given strong quality metrics.
Gross margins of 78% signal strong pricing power and brand/IP advantages — businesses with margins above 40% have historically demonstrated more resilient earnings through economic cycles.
A conservative balance sheet (0% D/E) provides financial flexibility for acquisitions, buybacks, or weathering economic downturns without dilution.
The Reduce rating (composite 47.4/100) reflects multi-factor weakness, and historically, stocks in this scoring range have underperformed the market by a meaningful margin.
A P/E of 61.8x leaves little room for execution misses — any earnings disappointment could trigger a sharp multiple compression.
Thin net margins of 0.5% provide limited cushion against cost pressures, competitive pricing, or macroeconomic headwinds — even small changes in costs could swing the company to a loss.
We assign a Low uncertainty rating to USANA HEALTH SCIENCES INC. The company exhibits strong financial stability with a beta of 0.80, conservative leverage (0% D/E), and a stability factor in the 65th percentile. The predictable nature of the business model and solid financial position reduce the range of potential outcomes, giving us confidence in our fair value estimate.
Specific risk factors that inform our assessment include: elevated valuation multiple (P/E 61.8x) that leaves limited margin for error. Each of these factors independently widens the distribution of potential outcomes, and in combination they create a risk profile that demands careful position sizing. The stability factor at the 65th percentile and quality factor at the 62th percentile provide a quantitative summary of the overall risk landscape.
Key risk mitigants include: healthy gross margins of 78% provide a buffer against cost pressures; conservative leverage (0% D/E) limits balance sheet risk; above-average stability (65th percentile) suggests predictable business dynamics. These factors partially offset the identified risks and provide downside protection in adverse scenarios. On balance, the risk-reward profile is favorable for long-term investors.
We rate USANA HEALTH SCIENCES INC's capital allocation as Standard. Management has shown adequate — though not exceptional — stewardship of shareholder capital. Returns on equity stand at 1.2%, and the balance sheet is managed within acceptable parameters (D/E: 0%). Exemplary allocators typically sustain ROE above 20% and D/E below 50%; USANA HEALTH SCIENCES INC falls short on at least one dimension.
There is room for improvement in optimizing the capital structure or enhancing shareholder returns. Absent a dividend, the overall capital allocation framework would benefit from either higher reinvestment returns, improved balance sheet efficiency, or increased shareholder distributions. We will monitor for signs of strategic improvement that could warrant an upgrade.
In summary, USANA HEALTH SCIENCES INC receives a Reduce rating with a composite score of 47.4/100 (rank #2421 of 7,333). Our quantitative framework assigns a Narrow Moat (47/100, trend: stable), Low uncertainty, and Standard capital allocation. The average factor score across quality, value, momentum, stability, and investment is 46/100.
Our analysis does not support a constructive view on USANA HEALTH SCIENCES INC at this time. The combination of the current quantitative profile, low uncertainty, and standard capital allocation suggests unfavorable risk-reward at current levels. We recommend investors avoid new positions and existing holders consider reducing exposure.
Analysis derived from Blank Capital Research quantitative terminal. For informational purposes only. No trade solicitation. Past performance not indicative of future results. Consult a qualified advisor.
We assign USANA HEALTH SCIENCES INC a Narrow Moat rating with a composite moat score of 47/100. The company possesses identifiable competitive advantages, though they are less entrenched than those of wide-moat peers. Our analysis indicates that USANA HEALTH SCIENCES INC can sustain above-average returns on invested capital for at least 10 years, with the strongest contributor being financial resilience at 19.4/20.
The strongest moat sources are financial resilience (19.4/20) and margin superiority (16.6/20). Interest coverage 25.0x, Net debt/EBITDA -15.8x. GM 78% vs sector 43%, OM 4% vs sector 1%. These pillars form the core of USANA HEALTH SCIENCES INC's competitive identity and are the primary drivers of excess returns in our framework.
Areas of relative weakness include reinvestment efficiency (0/20) and economic value creation (5.2/20). Capital turnover N/A. Improvement in these areas could meaningfully widen the moat over time, while deterioration would be an early warning of competitive erosion.
Our moat trend assessment is Stable. Multi-year ROIC and operating margin trajectories show neither meaningful improvement nor deterioration, suggesting the competitive position is steady. We expect USANA HEALTH SCIENCES INC's moat profile to remain largely unchanged absent a material shift in return on capital or industry dynamics.
Key profit drivers include gross margins of 78% providing a solid profitability foundation, moderate revenue growth of 7%. The margin cascade from 78% gross to 4% operating to 0.5% net reveals the company's cost structure and reinvestment intensity. Our analysis indicates that the profit engine is high-quality and likely sustainable, with the quality factor at the 62th percentile.
The margin profile shows gross margins of 78%, operating margins of 4%, net margins of 0.5%. Return metrics include ROE of 1.2% and ROA of 0.9%. Relative to the Manufacturing sector, gross margins are 35.5 percentage points above the sector median of 43%, and ROE of 1.2% compares to a sector median of -2.5%.
The balance sheet reflects a conservatively managed balance sheet with D/E of 0%, revenue growth of 7%. The sector median D/E is 0%, putting USANA HEALTH SCIENCES INC in a relatively stronger balance sheet position. Overall balance sheet health is adequate for the current business environment.
Weak momentum (28th percentile) suggests institutional selling pressure and unfavorable technical dynamics that may persist.
Above 50MA
37.18%
Net New Highs
+51081
U.S. stock futures rose on Friday after Thursday's market decline, with corporate earnings providing mixed results. Key focus was on potential trade discussions between U.S. and China, and market expectations of potential Federal Reserve interest rate cuts.
USANA’s fourth quarter results met Wall Street’s expectations on revenue and surpassed estimates for non-GAAP profit, yet the market responded negatively. Management attributed this to ongoing margin pressures and a continued shift in business mix, particularly the growing role of lower-margin brands like Rise Wellness and Hiya. CEO Kevin Guest, who resumed his leadership role, highlighted operational changes and a strategic pivot toward omnichannel distribution and scientific product innovation
Xencor shares surged 10.5% after the company announced a secondary stock offering to raise $175 million. The company plans to use the funds to support its pipeline development. However, earnings and revenue expectations for the upcoming quarter are negative, which may impact the stock's future performance.
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