Nu Skin Enterprises (NUS) has wrapped up FY 2025 with fourth quarter revenue of US$370.3 million and basic EPS of US$0.30, while the trailing twelve months show revenue of about US$1.5 billion and basic EPS of US$3.25, supported by net income of US$160.2 million. Over recent quarters, revenue has ranged between US$364.2 million and US$386.1 million, with quarterly EPS moving from US$2.16 in Q1 2025 to US$0.30 in Q4 2025, giving you a clear view of how profitability is tracking. With a one off gain of US$151.0 million and a return to profitability shaping the latest numbers, the key question is how durable these margins look from here.

See our full analysis for Nu Skin Enterprises.

With the headline figures set, the next step is to see how these results line up against the widely held narratives around Nu Skin Enterprises's growth prospects, risks, and earnings quality.

Profit swings and a US$151m one off gain

• Across FY 2025, net income excluding extra items moved from US$107.5 million in Q1 to US$14.5 million in Q4, and the trailing twelve months total of US$160.2 million includes a US$151.0 million one off gain that has a major influence on reported profitability.
• What stands out for a bearish view is how this one off gain sits alongside a 38.5% per year decline in earnings over the past five years and forecasts for about 51.6% per year earnings declines over the next three years. This ties recent profitability to a mix of:
  • Trailing EPS moving from a loss of US$2.95 per share in the year to Q4 2024 to a profit of US$3.25 per share in the year to Q4 2025, with part of that swing linked to the US$151.0 million gain.
  • Ongoing pressure on the underlying run rate, with Q2 to Q4 2025 net income excluding extra items between US$14.5 million and US$21.1 million, a much smaller base than the one off boosted total.

Low 2.2x P/E versus peers at 40.6x

• On the latest figures, the stock trades on a P/E of 2.2x compared with 40.6x for peers and 19.7x for the Global Personal Products industry, and the DCF fair value of about US$9.72 per share sits above the current US$7.02 share price, implying a gap between price and these valuation markers.
• Supporters of a more bullish angle point to this gap as a value signal, yet the numbers also highlight some tension with that story:
  • Trailing twelve month net income excluding extra items of US$160.2 million and EPS of US$3.25 underpin the low P/E, but that includes the US$151.0 million one off item rather than purely recurring profits.
  • Analysts also expect earnings to fall by about 51.6% per year over the next three years, so the low multiple and discount to the DCF fair value are being weighed against a weak earnings trajectory.

Curious how numbers like a 2.2x P/E and a DCF fair value above the current price fit into the broader story for NUS? Curious how numbers become stories that shape markets? Explore Community Narratives

Modest 1.5% revenue growth outlook

• Revenue across the last six quarters in the data set moved between US$364.2 million and US$445.6 million, and forward estimates call for about 1.5% revenue growth per year compared with 11.4% for the wider US market, signalling a slower top line profile.
• Bears argue this muted revenue path and the forecast 51.6% per year drop in earnings challenge the idea of a strong growth story, and the recent figures give them several data points to reference:
  • Total revenue in FY 2025 quarters stayed in a fairly tight band around the mid US$300 million range, while trailing twelve month revenue of US$1.5b is only modestly different from the US$1.8b level seen a year earlier in the data.
  • The return to profitability over the last year follows a period when trailing net income excluding extra items was a loss of US$146.6 million at Q4 2024, so the current forecasts stress that maintaining the new profit level is not assumed in the projections.

Next Steps

Don't just look at this quarter; the real story is in the long-term trend. We've done an in-depth analysis on Nu Skin Enterprises's growth and its valuation to see if today's price is a bargain. Add the company to your watchlist or portfolio now so you don't miss the next big move.

Seeing both risks and rewards in the mix, the real question is how you weigh them for your own portfolio. Take a closer look at the data and key assumptions, then pressure test your thesis against the 3 key rewards and 3 important warning signs.

See What Else Is Out There

NUS leans heavily on a US$151.0 million one off gain while facing forecasts for 51.6% yearly earnings declines and only 1.5% revenue growth per year.

If that combination of pressured earnings, muted sales outlook, and valuation questions leaves you cautious, it is worth checking stocks in the 51 high quality undervalued stocks. These may offer lower prices with fundamentals more aligned to your expectations.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.