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Side-by-side financial comparison of ハーバライフ (HLF) and Lifeway Foods, Inc. (LWAY), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
ハーバライフ is the larger business by last-quarter revenue ($1.3B vs $55.4M, roughly 23.2× Lifeway Foods, Inc.). ハーバライフ runs the higher net margin — 6.7% vs 4.6%, a 2.1% gap on every dollar of revenue. On growth, Lifeway Foods, Inc. posted the faster year-over-year revenue change (18.0% vs 6.3%). ハーバライフ produced more free cash flow last quarter ($79.8M vs $-17.4M). Over the past eight quarters, Lifeway Foods, Inc.'s revenue compounded faster (11.4% CAGR vs 0.7%).
ハーバライフは米国の多国籍ネットワークビジネス企業で、栄養補助食品の開発・販売を主な事業としています。過去にピラミッド商法による詐欺的運営の疑いが持たれ、2016年にSECとの合意に基づき報酬体系を改正し、販売店のインセンティブは実際の売上実績と連動するようになりました。一部製品が急性肝炎を引き起こした事例も報告されています。
ライフウェイフーズはアメリカ合衆国イリノイ州に本拠を置く健康食品企業で、1986年に設立されました。体内微生物環境を整えるケフィアや発酵プロバイオティクス製品の米国有数のサプライヤーとして事業を展開しています。
HLF vs LWAY — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $55.4M |
| Net Profit | $85.4M | $2.5M |
| Gross Margin | 77.5% | 27.8% |
| Operating Margin | 7.8% | 6.8% |
| Net Margin | 6.7% | 4.6% |
| Revenue YoY | 6.3% | 18.0% |
| Net Profit YoY | -52.0% | 1688.1% |
| EPS (diluted) | $0.81 | $0.15 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $1.3B | $55.4M | ||
| Q3 25 | $1.3B | $57.1M | ||
| Q2 25 | $1.3B | $53.9M | ||
| Q1 25 | $1.2B | $46.1M | ||
| Q4 24 | $1.2B | $46.9M | ||
| Q3 24 | $1.2B | $46.1M | ||
| Q2 24 | $1.3B | $49.2M | ||
| Q1 24 | $1.3B | $44.6M |
| Q4 25 | $85.4M | $2.5M | ||
| Q3 25 | $43.2M | $3.5M | ||
| Q2 25 | $49.3M | $4.2M | ||
| Q1 25 | $50.4M | $3.5M | ||
| Q4 24 | $177.9M | $-160.0K | ||
| Q3 24 | $47.4M | $3.0M | ||
| Q2 24 | $4.7M | $3.8M | ||
| Q1 24 | $24.3M | $2.4M |
| Q4 25 | 77.5% | 27.8% | ||
| Q3 25 | 77.7% | 28.7% | ||
| Q2 25 | 78.0% | 28.6% | ||
| Q1 25 | 78.3% | 23.9% | ||
| Q4 24 | 77.8% | 25.3% | ||
| Q3 24 | 78.3% | 25.7% | ||
| Q2 24 | 77.9% | 27.0% | ||
| Q1 24 | 77.5% | 25.8% |
| Q4 25 | 7.8% | 6.8% | ||
| Q3 25 | 9.9% | 8.8% | ||
| Q2 25 | 10.5% | 10.8% | ||
| Q1 25 | 10.1% | 3.4% | ||
| Q4 24 | 8.8% | 1.5% | ||
| Q3 24 | 10.2% | 9.1% | ||
| Q2 24 | 6.3% | 11.0% | ||
| Q1 24 | 5.7% | 8.0% |
| Q4 25 | 6.7% | 4.6% | ||
| Q3 25 | 3.4% | 6.2% | ||
| Q2 25 | 3.9% | 7.9% | ||
| Q1 25 | 4.1% | 7.7% | ||
| Q4 24 | 14.7% | -0.3% | ||
| Q3 24 | 3.8% | 6.5% | ||
| Q2 24 | 0.4% | 7.7% | ||
| Q1 24 | 1.9% | 5.4% |
| Q4 25 | $0.81 | $0.15 | ||
| Q3 25 | $0.42 | $0.23 | ||
| Q2 25 | $0.48 | $0.28 | ||
| Q1 25 | $0.49 | $0.23 | ||
| Q4 24 | $1.75 | $0.00 | ||
| Q3 24 | $0.46 | $0.19 | ||
| Q2 24 | $0.05 | $0.25 | ||
| Q1 24 | $0.24 | $0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $353.1M | $5.6M |
| Total DebtLower is stronger | $2.0B | — |
| Stockholders' EquityBook value | $-515.1M | $85.8M |
| Total Assets | $2.8B | $105.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $353.1M | $5.6M | ||
| Q3 25 | $305.5M | $23.0M | ||
| Q2 25 | $320.9M | $21.2M | ||
| Q1 25 | $329.4M | $19.4M | ||
| Q4 24 | $415.3M | $16.7M | ||
| Q3 24 | $402.5M | $20.6M | ||
| Q2 24 | $374.0M | $14.6M | ||
| Q1 24 | $398.3M | $12.0M |
| Q4 25 | $2.0B | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | $2.4B | $2.5M |
| Q4 25 | $-515.1M | $85.8M | ||
| Q3 25 | $-612.0M | $82.8M | ||
| Q2 25 | $-660.5M | $78.7M | ||
| Q1 25 | $-736.0M | $74.2M | ||
| Q4 24 | $-801.1M | $71.9M | ||
| Q3 24 | $-954.2M | $71.5M | ||
| Q2 24 | $-1.0B | $68.0M | ||
| Q1 24 | $-1.0B | $63.5M |
| Q4 25 | $2.8B | $105.6M | ||
| Q3 25 | $2.7B | $109.5M | ||
| Q2 25 | $2.7B | $98.3M | ||
| Q1 25 | $2.7B | $93.7M | ||
| Q4 24 | $2.7B | $90.5M | ||
| Q3 24 | $2.7B | $91.3M | ||
| Q2 24 | $2.6B | $84.9M | ||
| Q1 24 | $2.6B | $82.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.04× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $98.3M | $267.0K |
| Free Cash FlowOCF − Capex | $79.8M | $-17.4M |
| FCF MarginFCF / Revenue | 6.2% | -31.5% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 1.4% | 31.9% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 1.15× | 0.11× |
| TTM Free Cash FlowTrailing 4 quarters | $252.9M | $-16.4M |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $98.3M | $267.0K | ||
| Q3 25 | $138.8M | $6.9M | ||
| Q2 25 | $96.0M | $3.9M | ||
| Q1 25 | $200.0K | $-150.0K | ||
| Q4 24 | $69.6M | $-2.6M | ||
| Q3 24 | $99.5M | $7.5M | ||
| Q2 24 | $102.5M | $6.5M | ||
| Q1 24 | $13.8M | $1.5M |
| Q4 25 | $79.8M | $-17.4M | ||
| Q3 25 | $118.0M | $1.8M | ||
| Q2 25 | $73.2M | $1.6M | ||
| Q1 25 | $-18.1M | $-2.4M | ||
| Q4 24 | $43.9M | $-3.8M | ||
| Q3 24 | $72.4M | $5.9M | ||
| Q2 24 | $66.2M | $5.1M | ||
| Q1 24 | $-19.1M | $-923.0K |
| Q4 25 | 6.2% | -31.5% | ||
| Q3 25 | 9.3% | 3.1% | ||
| Q2 25 | 5.8% | 3.0% | ||
| Q1 25 | -1.5% | -5.1% | ||
| Q4 24 | 3.6% | -8.2% | ||
| Q3 24 | 5.8% | 12.8% | ||
| Q2 24 | 5.2% | 10.4% | ||
| Q1 24 | -1.5% | -2.1% |
| Q4 25 | 1.4% | 31.9% | ||
| Q3 25 | 1.6% | 9.0% | ||
| Q2 25 | 1.8% | 4.3% | ||
| Q1 25 | 1.5% | 4.8% | ||
| Q4 24 | 2.1% | 2.7% | ||
| Q3 24 | 2.2% | 3.3% | ||
| Q2 24 | 2.8% | 2.9% | ||
| Q1 24 | 2.6% | 5.5% |
| Q4 25 | 1.15× | 0.11× | ||
| Q3 25 | 3.21× | 1.96× | ||
| Q2 25 | 1.95× | 0.92× | ||
| Q1 25 | 0.00× | -0.04× | ||
| Q4 24 | 0.39× | — | ||
| Q3 24 | 2.10× | 2.50× | ||
| Q2 24 | 21.81× | 1.73× | ||
| Q1 24 | 0.57× | 0.64× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
HLF
| Others | $514.4M | 40% |
| Other | $300.0M | 23% |
| IN | $250.3M | 20% |
| MX | $147.2M | 11% |
| VN | $71.1M | 6% |
LWAY
| Drinkable Kefirotherthan Pro Bugs | $47.8M | 86% |
| Cheese | $4.7M | 8% |
| Cream And Other | $1.7M | 3% |
| Other | $1.2M | 2% |
