Detailed financial statements for FitLife Brands, Inc. (FTLF): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
FitLife Brands, Inc. supplies dietary supplements to health-conscious individuals across the United States and globally. Their extensive product line caters to various needs, encompassing weight management, overall well-being, and athletic performance.
Analysis Summary
FitLife Brands, Inc. reported revenue of $81.5M in the most recent fiscal year, growing at a 5-year CAGR of 29.8%. Net income reached $6.3M, with a -6.4% 5-year CAGR.
Trailing-twelve-month margins: gross margin 36.3%, operating margin 11.1%, net margin 6.2%. Free cash flow grew at 5.3% CAGR over 5 years.
At the current price of $9.32, FTLF trades at a P/E of 13.73 and an ROE of 13.98%. Market capitalisation stands at $88M.
Balance sheet quality for FTLF: current ratio of 1.5, net debt of $43.6M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is strong: free cash flow of $7.4M represents 117% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.3M | $17.8M | $17.1M | $19.5M | $22.1M | $27.9M | $28.8M | $52.7M | $64.5M | $81.5M |
| Cost of Revenue | $15.2M | $12.7M | $10.3M | $11.4M | $12.6M | $15.4M | $16.8M | $31.3M | $36.4M | $50.0M |
| Gross Profit | $10.1M | $5.1M | $6.7M | $8.1M | $9.5M | $12.5M | $12.0M | $21.4M | $28.1M | $31.5M |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $9.1M | $7.7M | $6.0M | $5.4M | $5.2M | $6.2M | $6.3M | $12.2M | $10.0M | $18.9M |
| Operating Expenses | $9.6M | $8.1M | $6.1M | $5.5M | $5.2M | $6.3M | $6.3M | $13.9M | $15.0M | $19.3M |
| Operating Income | $472265 | -$9.0M | $653000 | $2.6M | $4.3M | $6.2M | $5.7M | $7.5M | $13.1M | $12.1M |
| EBITDA | $950500 | -$8.6M | $722000 | $2.7M | $4.4M | $6.8M | $5.9M | $8.1M | $13.3M | $10.5M |
| Interest Expense | $109391 | $112128 | $133000 | $47000 | $15000 | 0 | 0 | $1.0M | $1.4M | $1.9M |
| Pre-tax Income | $368078 | -$9.1M | $520000 | $2.6M | $4.4M | $6.7M | $5.8M | $7.0M | $11.9M | $8.2M |
| Income Tax | 0 | $689000 | $11000 | $7000 | -$4.4M | $1.3M | $1.4M | $1.7M | $2.9M | $1.9M |
| Net Income | $368078 | -$9.8M | $509000 | $2.7M | $8.8M | $5.4M | $4.4M | $5.3M | $9.0M | $6.3M |
| EPS | $0.05 | $-1.16 | $0.46 | $0.31 | $1.05 | $0.61 | $0.49 | $0.59 | $0.98 | $0.68 |
| EPS (Diluted) | $0.05 | $-1.16 | $0.46 | $0.29 | $0.97 | $0.55 | $0.45 | $0.54 | $0.91 | $0.63 |
| Shares Outstanding (Diluted) | $8.3M | $8.4M | $875486 | $8.7M | $9.1M | $9.8M | $9.9M | $9.8M | $9.9M | $10.0M |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Revenue | $23.5M | $25.9M | $25.3M | $26.5M |
| Gross Profit | $8.7M | $8.9M | $9.3M | $9.8M |
| Operating Income | $2.3M | $2.5M | $3.1M | $3.4M |
| EBITDA | $2.5M | $2.4M | $3.3M | $3.6M |
| Net Income | $921000 | $1.6M | $1.7M | $1.9M |
| EPS | $0.10 | $0.17 | $0.18 | $0.21 |
| EPS (Diluted) | $0.09 | $0.16 | $0.17 | $0.20 |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.3M | $1.3M | $259000 | $265000 | $6.3M | $9.9M | $13.3M | $1.1M | $4.5M | $1.6M |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivables | $2.6M | $2.0M | $1.9M | $2.4M | $1.8M | $945000 | $705000 | $3.1M | $1.7M | $8.8M |
| Inventory | $3.8M | $2.9M | $3.5M | $3.0M | $3.5M | $6.5M | $9.1M | $9.1M | $11.1M | $21.3M |
| Total Current Assets | $8.1M | $6.3M | $5.4M | $5.7M | $11.8M | $17.7M | $23.2M | $14.7M | $18.1M | $33.1M |
| Property, Plant & Equipment | $171004 | $295187 | $189000 | $390000 | $306000 | $228000 | $149000 | $258000 | $487000 | $810000 |
| Goodwill | 0 | 0 | $225000 | $225000 | $225000 | $358000 | $358000 | $13.3M | $13.0M | $19.4M |
| Intangible Assets | $6.5M | $225000 | 0 | 0 | 0 | $192000 | $150000 | $26.3M | $26.2M | $51.4M |
| Total Assets | $15.5M | $6.9M | $5.9M | $6.3M | $16.6M | $21.5M | $25.7M | $55.3M | $58.5M | $106.3M |
| Accounts Payable | $1.6M | $3.0M | $2.6M | $2.0M | $3.2M | $2.9M | $3.0M | $3.3M | $4.1M | $6.9M |
| Short-term Debt | $2.5M | $2.4M | $500000 | 0 | 0 | 0 | 0 | $4.5M | $4.5M | $6.1M |
| Total Current Liabilities | $4.6M | $6.0M | $3.5M | $2.8M | $4.1M | $4.1M | $4.3M | $10.3M | $11.3M | $21.6M |
| Long-term Debt | $369177 | 0 | 0 | 0 | $453000 | 0 | 0 | $15.5M | $8.6M | $38.4M |
| Total Liabilities | $5.0M | $6.0M | $3.5M | $3.0M | $4.7M | $4.2M | $4.3M | $28.3M | $22.4M | $62.7M |
| Retained Earnings | -$20.4M | -$30.2M | -$29.8M | -$27.1M | -$18.6M | -$13.1M | -$8.7M | -$3.4M | $5.6M | $11.9M |
| Total Equity | $10.5M | $911597 | $2.3M | $3.3M | $11.9M | $17.3M | $21.4M | $27.0M | $36.1M | $43.6M |
| Total Debt | $2.9M | $2.4M | $500000 | $254000 | $661000 | $158000 | $103000 | $20.1M | $13.5M | $45.2M |
| Net Debt | $1.6M | $1.1M | $241000 | -$11000 | -$5.7M | -$9.7M | -$13.2M | $19.0M | $9.0M | $43.6M |
| Working Capital | $3.5M | $369502 | $1.9M | $2.9M | $7.6M | $13.6M | $18.9M | $4.4M | $6.8M | $11.5M |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Cash & Equivalents | $3.5M | $1.6M | $1.2M | $1.1M |
| Total Assets | $110.0M | $106.3M | $104.3M | $102.6M |
| Total Liabilities | $68.1M | $62.7M | $58.9M | $55.2M |
| Total Equity | $41.9M | $43.6M | $45.4M | $47.4M |
| Total Debt | $47.3M | $45.2M | $42.2M | $38.4M |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $368078 | -$9.8M | $509000 | $2.6M | $8.8M | $5.4M | $4.4M | $5.3M | $9.0M | $6.3M |
| Depreciation & Amortization | $478235 | $409476 | $69000 | $52000 | $38000 | $59000 | $66000 | $94000 | $108000 | $420000 |
| Stock-based Compensation | $98686 | $140000 | $293000 | 0 | $78000 | $452000 | $363000 | $473000 | $459000 | $404000 |
| Change in Working Capital | -$1.0M | $2.9M | $104000 | -$621000 | -$3.2M | -$1.0M | -$773000 | -$2.0M | $56000 | -$960000 |
| Operating Cash Flow | -$88416 | $665781 | $258000 | $2.3M | $5.7M | $4.5M | $4.1M | $4.2M | $9.6M | $7.4M |
| Capital Expenditure | -$23405 | -$185064 | 0 | 0 | 0 | 0 | 0 | -$106000 | -$10000 | -$42000 |
| Acquisitions | 0 | 0 | $4000 | 0 | 0 | -$529000 | 0 | -$17.1M | 0 | -$42.5M |
| Stock Repurchased | -$156907 | 0 | 0 | -$1.7M | -$171000 | -$444000 | -$779000 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | -$63000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$111821 | $480717 | $258000 | $2.3M | $5.7M | $4.5M | $4.1M | $4.1M | $9.6M | $7.4M |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Operating Cash Flow | $3.7M | $244000 | $2.5M | $3.6M |
| Capital Expenditure | -$8000 | -$5000 | 0 | 0 |
| Free Cash Flow | $3.7M | $239000 | $2.5M | $3.6M |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Stock-based Compensation | $126000 | $72000 | $17000 | $58000 |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | -29.7% | -4.1% | +14.2% | +13.4% | +26.2% | +3.2% | +83.0% | +22.3% | +26.4% | |
| Net Income Growth (YoY) | -2752.1% | +105.2% | +430.1% | +227.1% | -38.7% | -18.1% | +19.6% | +69.6% | -29.6% | |
| EPS Growth (YoY) | -2420.0% | +139.8% | -32.8% | +237.1% | -41.8% | -20.2% | +21.3% | +65.6% | -30.4% | |
| Shares Change (YoY) | +1.7% | -89.6% | +898.1% | +4.1% | +7.3% | +1.9% | -1.4% | +0.9% | +0.8% | |
| FCF Growth (YoY) | +529.9% | -46.3% | +776.4% | +153.0% | -21.7% | -7.8% | -0.4% | +133.3% | -22.9% | |
| Gross Margin | 39.8% | 28.6% | 39.5% | 41.3% | 43.1% | 44.8% | 41.8% | 40.7% | 43.6% | 38.6% |
| Operating Margin | 1.9% | -50.3% | 3.8% | 13.2% | 19.7% | 22.3% | 19.8% | 14.3% | 20.3% | 14.9% |
| EBITDA Margin | 3.8% | -48.0% | 4.2% | 13.9% | 19.8% | 24.2% | 20.4% | 15.4% | 20.7% | 12.9% |
| Net Margin | 1.5% | -54.8% | 3.0% | 13.8% | 39.9% | 19.4% | 15.4% | 10.0% | 13.9% | 7.8% |
| FCF Margin | -0.4% | 2.7% | 1.5% | 11.6% | 25.9% | 16.0% | 14.3% | 7.8% | 14.9% | 9.1% |
| Effective Tax Rate | 0.0% | -7.6% | 2.1% | 0.3% | -100.1% | 19.4% | 23.9% | 24.4% | 24.3% | 23.1% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $-0.01 | $0.06 | $0.29 | $0.26 | $0.63 | $0.46 | $0.42 | $0.42 | $0.97 | $0.74 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $8.3M | $8.4M | $875486 | $8.2M | $8.5M | $8.8M | $9.1M | $9.0M | $9.2M | $9.3M |
What to look at in Consumer Defensive companies
- Gross margin (stable 5y) (Stable >=35%) — Brand pricing power — Coca-Cola does not drop margins.
- ROE / ROIC stable (ROE >=15% stable) — Defensive businesses have high consistent ROEs — Lynch's stalwarts.
- FCF / Net Income (>=90%) — Earnings to cash conversion — best names exceed 95%.
- Dividend growth 10y (>=6%/year) — Dividend Aristocrats raise 25+ years — moat signal.
- Payout Ratio (<75%) — >80% = dividend at risk. <60% comfortable.
- Net Debt / EBITDA (<2.5x) — Defensive with high debt loses its essence.
Profitability
| Return on Equity | 13.98% |
| Return on Invested Capital | 9.74% |
| Return on Assets | 6.07% |
| Gross Margin | 36.29% |
| Operating Margin | 11.09% |
| Net Margin | 6.15% |
Financial Health
| Debt / Equity | 0.81 |
| Current Ratio | 1.46 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 23.80 | -0.26 | 1.16 | 5.67 | 2.58 | 13.13 | 16.39 | 16.19 | 16.69 | 23.93 |
| P/B | 0.93 | 2.77 | 0.20 | 4.32 | 1.92 | 4.06 | 3.39 | 3.17 | 4.15 | 3.48 |
| P/S | 0.39 | 0.14 | 0.03 | 0.74 | 1.03 | 2.53 | 2.52 | 1.63 | 2.33 | 1.87 |
| Gross Margin | 39.8% | 28.6% | 39.5% | 41.3% | 43.1% | 44.8% | 41.8% | 40.7% | 43.6% | 38.6% |
| Operating Margin | 1.9% | -50.3% | 3.8% | 13.2% | 19.7% | 22.3% | 19.8% | 14.3% | 20.3% | 14.9% |
| Net Margin | 1.5% | -54.8% | 3.0% | 13.8% | 39.9% | 19.4% | 15.4% | 10.0% | 13.9% | 7.8% |
Related companies: ABVE · ACU · EPSM · EWCZ · HAIN · LFVN · NATR
Explore sector: Consumer Defensive · Packaged Foods
More sections of FTLF: Overview · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
Discover more: Radar — undervalued stock signals · Investment Academy — learn to analyze stocks