Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jun 28, 2026
USANA HEALTH SCIENCES INC (USNA)
A forensic read on USANA HEALTH SCIENCES INC built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
B · Sound & dependable
Forensic grade
Safe
Financial health
7.4
Altman Z-score
Clean
Earnings quality
5
Forensic signals
43.1
P / E (ttm)
1.7%
ROE
$382M
Market cap
USANA HEALTH SCIENCES INC earns a B (Sound & dependable) forensic quality grade, and its Altman Z-score is 7.4, placing it in the Safe zone. 5 forensic signals were flagged in its latest SEC filings, led by inventory days.
What the filings flag
186dInventory days.Days inventory outstanding moved from 158 to 186 FY2024→FY2026 (against cost of goods sold; inventory +47% vs +25% in cost of sales). Inventory is outrunning what's being sold — a flag for softening demand or obsolescence risk ahead.
5%Return on invested capital.Return on invested capital is 5% and slipping from 42% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
1% of revStock-based comp load.Stock-based compensation ran 1% of revenue and 162% of free cash flow in FY2026 — about $0.74 per diluted share. Heavy — a large slice of 'free cash flow' is really being paid out in stock, so the true owner cash per share is well below the headline.
323% of FCFShareholder returns.Returned $28M to shareholders (buybacks + dividends) in FY2026 — 323% of free cash flow. More than free cash flow generated — and beyond operating cash too, so the extra is coming from debt or cash reserves, which isn't sustainable indefinitely.
$7MGoodwill impairments.Took $7M of goodwill writedowns across 1 year(s) (FY2026 ($7M)) — about 61% of net income over the span. A large writedown means an acquisition turned out worth far less than was paid — a real mark against M&A discipline.
Key fundamentals
Net Margin1.2%
Free Cash Flow$8.5M
Latest Revenue$925.3M
Return on Equity2.0%
Revenue Growth YoY+8.3%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on USANA HEALTH SCIENCES INC:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about USNA's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown