XVARY Composite Score
22
/ 100
Weak
Combines growth, value, risk, and momentum factors into a single institutional-grade score.
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What it is
Mannatech sells nutritional supplements, skin care, and weight-management products through a 125,000-person associate network.
How it gets paid
Last year Mannatech made $118M in revenue.
What just happened
Mannatech missed with $81M revenue and a $2.06 loss per share.
At a Glance
C+ balance sheet — struggling to keep the lights on
10/100 earnings predictability — expect surprises
6.3x trailing p/e — the market's not buying it — or you found a deal
21.6% return on capital — every dollar works hard here
$1.32 fy2024 eps est
XVARY composite: 22/100 — weak
What They Do
Mannatech sells nutritional supplements, skin care, and weight-management products through a 125,000-person associate network.
You are not buying a shelf brand. You are buying a 125,000-person sales network for a company with 189 employees. direct selling (people sell to people) means your product depends on a person, not a store. That is why Mannatech can move $118M in annual sales with a tiny payroll.
How They Make Money
$118M
annual revenue
total revenue
$118M
n/a
The Products That Matter
Nutritional supplement portfolio
Glyconutrient Supplements
core revenue base · exact split not shown here
these products sit inside the company’s full $118M revenue base, which fell 10.7% last year. if the flagship supplement line cannot stabilize demand, the rest of the story does not matter.
core
Topical skin care products
Skin Care & Anti-Aging
adjacent category · no segment breakout provided
this is part of the same shrinking $118M portfolio. without segment numbers, you should treat it as supporting cast rather than a hidden growth engine.
no breakout
Key Numbers
$118M
annual sales
That is about 9x the market cap of roughly $13M.
74.8%
gross margin
Mannatech keeps about $0.75 of every sales dollar before overhead.
21.6%
return on capital
For every $1 tied up in the business, Mannatech earned about 22 cents in operating profit.
6.3x
trailing p/e
You are paying 6.3 times earnings for a stock with a C+ balance sheet grade.
Financial Health
C+
Strength
- balance sheet grade C+ — weak — may struggle to fund operations
- risk rank 5 — safer than 5% of stocks
- price stability 10 / 100
- long-term debt $6M (33% of capital)
C+ — below average. watch for debt servicing and cash burn.
Total Return vs. Market
source: institutional data · return history unavailable
What Just Happened
missed estimates
Mannatech missed with $81M revenue and a $2.06 loss per share.
Revenue was up 179% from the year before. Gross margin held at 74.8%, so the problem was not the product spread. It was the bottom line.
$81M
revenue
-$2.06
eps
74.8%
gross margin
gross margin
74.8% gross margin is the number that mattered, because it shows the products still have room before overhead.
source: company earnings report, 2026
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What Could Go Wrong
The #1 risk is continued distributor-driven sales erosion in a direct-sales supplement model. revenue already fell 10.7%, so this is not theoretical.
High
Shrinking revenue base
a direct-sales model needs active sellers and steady reorder behavior. mannatech’s revenue fell 10.7% last year, which means the top line is already moving the wrong way.
impact: if revenue keeps sliding, the low valuation multiple will not save you because the earnings base will keep shrinking with it.
High
Negative operating cash flow
cash from operations was -$2.89M over the last twelve months. for a business with a ~$13M market cap and $6M in long-term debt, that is a real constraint, not a footnote.
impact: another stretch of cash burn would pressure flexibility and make the balance sheet feel smaller than the C+ grade already implies.
Med
Leadership reset during a downturn
the company appointed a new CEO in march 2024 and a new president in march 2026. fresh management can help, but you are still betting on execution during a sales decline.
impact: if the new team cannot stabilize revenue quickly, the market will treat leadership change as noise rather than a catalyst.
a $13M stock with $6M of long-term debt and -$2.89M in operating cash flow does not get many retries.
Source: institutional data · regulatory filings · risk analysis
Pay Attention To
Calendar
Q4 2025 earnings report
scheduled for march 25, 2026. after a -$0.694 EPS quarter, you need to see whether losses narrow and whether management can explain the sales trend without hand-waving.
Metric
Operating cash flow
the last twelve months came in at -$2.89M. this is the cleanest health check on the turnaround because accounting earnings can flatter a small business for a quarter or two.
Trend
Revenue stabilization
the top line fell 10.7% last year. if that decline does not slow, the stock stays in penalty-box territory no matter how low the p/e looks.
Risk
Management credibility
a new CEO in march 2024 and a new president in march 2026 means you should watch actions, not introductions. the business needs evidence of execution, not another reset narrative.
Analyst Rankings
earnings predictability
10 / 100
in human-speak: the numbers swing around, so you should expect surprises and avoid treating any single quarter as a trend.
risk rank
5
that means it scores safer than just 5% of stocks in the dataset. translation: this sits near the risky end of the market.
Source: institutional data
Institutional Activity
institutional ownership data for MTEX is being compiled.
Source: institutional data
Price Targets
3-5 year target range
$8
Current price
Target midpoint · from current
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