Nu Skin Enterprises, Inc.
NUS Consumer Defensive Household & Personal Products
Nu Skin Enterprises, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, down 14.3% from fiscal 2024. In the quarter to June 2026, revenue fell 17.1%, EPS fell 1,295.4%, free cash flow fell 86.1% and total debt fell 14.2%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Nu Skin Enterprises, Inc. (NUS) Beneish M-score
Nu Skin Enterprises, Inc.'s Beneish M-score for fiscal 2025 is −2.35; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −2.35 | 1.08 |
| FY2024 | −3.43 | (0.96) |
| FY2023 | −2.47 | (0.27) |
| FY2022 | −2.20 | 0.56 |
| FY2021 | −2.76 | (0.01) |
| FY2020 | −2.75 | (0.40) |
| FY2019 | −2.36 | (0.22) |
| FY2018 | −2.14 | 0.77 |
| FY2017 | −2.91 | 0.22 |
| FY2016 | −3.12 | (0.10) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.91 | — | 0.84 | |
| Gross margin index | 0.98 | — | 0.52 | |
| Asset quality index | 0.91 | — | 0.37 | |
| Sales growth index | 0.86 | — | 0.76 | |
| Depreciation index | 1.28 | — | 0.15 | |
| SG&A index | 0.97 | — | −0.17 | |
| Total accruals to total assets | 0.06 | — | 0.27 | |
| Leverage index | 0.74 | — | −0.24 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.35 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| HELE Helen of Troy Limited compare | −5.2× |
| MLKMF Waldencast PLC compare | −4.0× |
| HNST The Honest Company, Inc. compare | −3.3× |
| MAGN Magnera Corporation compare | −3.3× |
| SKIN SkinHealth Systems Inc. compare | −3.0× |
| ACU Acme United Corporation. compare | −2.6× |
| NUS Nu Skin Enterprises, Inc. | −2.3× |
| YSG Yatsen Holding Limited Sponsored ADR compare | −2.3× |
| SLSN Solesence, Inc. compare | −1.1× |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI