HNST Nasdaq Retail-Catalog & Mail-Order Houses Financials FY2019βFY2025
Honest Company, Inc. had $371M of revenue in fiscal 2025, down 1.9% on the year before. Over five years, revenue changed +4.3% a year on average.
Last close Β· Oct 23, 2026
$4.80
1.2%Hi! I read Honest Company, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β1.9%
No. Sales fell 1.9% last year.
Does it make a profit?
β4.2%
No. It lost money last year.
Does profit turn into cash?
3.7%
Partly. 3.7% of sales ends up as free cash.
How healthy are the accounts?
4 / 8
Mixed. It passes 4 of 8 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Honest Company, Inc. had $371M of revenue in fiscal 2025, down 1.9% on the year before. Over five years, revenue changed +4.3% a year on average. Its operating margin was β5.0%, down 3.3Β pts: of every 100 in sales, about β5 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Honest Company, Inc. lost $15.7M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was $13.6M in fiscal 2025, 3.7% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders sold $3.7M of shares on the open market and bought none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$3.7M
10 insiders
Of sales under plans
69%
$2.6M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 8, 2026 | Thomas SternweisSVP, Enterprise Dev. & Strat. | Sold | 25,000 | $4.90 | $0.1M | Form 4 |
| Sep 14, 2026 | Thomas SternweisSVP, Enterprise Dev. & Strat. | Sold plan | 25,000 | $5.48 | $0.1M | Form 4 |
| Aug 21, 2026 | Etienne von KunssbergSVP, Supply Chain | Sold plan | 4,578 | $5.01 | $0.0M | Form 4 |
| Aug 20, 2026 | Thomas SternweisSVP, Enterprise Dev. & Strat. | Sold plan | 6,403 | $4.99 | $0.0M | Form 4 |
| Aug 20, 2026 | Jonathan MayleSVP, Customer Sales | Sold plan | 6,161 | $4.99 | $0.0M | Form 4 |
| Aug 20, 2026 | Brendan SheeheyGeneral Counsel | Sold plan | 9,664 | $4.99 | $0.0M | Form 4 |
| Aug 20, 2026 | Etienne von KunssbergSVP, Supply Chain | Sold plan | 2,617 | $4.99 | $0.0M | Form 4 |
| Aug 20, 2026 | Dorria L. BallChief People Officer | Sold plan | 6,812 | $4.99 | $0.0M | Form 4 |
| Aug 20, 2026 | Carla VernonChief Executive Officer, Director | Sold plan | 117,893 | $4.99 | $0.6M | Form 4 |
| Aug 20, 2026 | Curtiss James Bruce IIIChief Fin. & Operating Officer | Sold plan | 3,129 | $4.99 | $0.0M | Form 4 |
| Aug 11, 2026 | Andrea TurnerDirector | Sold | 29,899 | $5.21 | $0.2M | Form 4 |
| Aug 10, 2026 | Jonathan MayleSVP, Customer Sales | Sold | 79,000 | $5.22 | $0.4M | Form 4 |
| Aug 10, 2026 | Andrea TurnerDirector | Sold | 34,396 | $5.30 | $0.2M | Form 4 |
| May 22, 2026 | Etienne von KunssbergSVP, Supply Chain | Sold | 4,544 | $3.34 | $0.0M | Form 4 |
| May 20, 2026 | Dorria L. BallChief People Officer | Sold plan | 6,899 | $3.14 | $0.0M | Form 4 |
| May 20, 2026 | Thomas SternweisSVP, Enterprise Dev. & Strat. | Sold plan | 6,673 | $3.14 | $0.0M | Form 4 |
| May 20, 2026 | Stephen WinchellChief Innovation Officer | Sold plan | 12,886 | $3.14 | $0.0M | Form 4 |
| May 20, 2026 | Brendan SheeheyGeneral Counsel | Sold plan | 9,784 | $3.14 | $0.0M | Form 4 |
| May 20, 2026 | Curtiss James Bruce IIIChief Financial Officer | Sold plan | 12,669 | $3.14 | $0.0M | Form 4 |
| May 20, 2026 | Jonathan MayleSVP, Customer Sales | Sold plan | 6,236 | $3.14 | $0.0M | Form 4 |
| May 20, 2026 | Etienne von KunssbergSVP, Supply Chain | Sold | 2,651 | $3.14 | $0.0M | Form 4 |
| May 20, 2026 | Carla VernonChief Executive Officer, Director | Sold plan | 119,389 | $3.14 | $0.4M | Form 4 |
| Mar 9, 2026 | Etienne von KunssbergSVP, Supply Chain | Sold | 16,602 | $2.75 | $0.0M | Form 4 |
| Mar 5, 2026 | Jonathan MayleSVP, Customer Sales | Sold plan | 12,725 | $2.85 | $0.0M | Form 4 |
| Mar 5, 2026 | Etienne von KunssbergSVP, Supply Chain | Sold plan | 12,179 | $2.85 | $0.0M | Form 4 |
| Mar 5, 2026 | Brendan SheeheyGeneral Counsel | Sold plan | 22,556 | $2.85 | $0.1M | Form 4 |
| Mar 5, 2026 | Carla VernonChief Executive Officer, Director | Sold plan | 129,335 | $2.85 | $0.4M | Form 4 |
| Mar 5, 2026 | Stephen WinchellChief Innovation Officer | Sold plan | 21,287 | $2.85 | $0.1M | Form 4 |
| Mar 5, 2026 | Dorria L. BallChief People Officer | Sold plan | 15,099 | $2.85 | $0.0M | Form 4 |
| Mar 5, 2026 | Thomas SternweisSVP, Enterprise Dev. & Strat. | Sold plan | 14,866 | $2.85 | $0.0M | Form 4 |
| Mar 3, 2026 | Stephen WinchellChief Innovation Officer | Sold | 73,685 | $2.84 | $0.2M | Form 4 |
| Nov 21, 2025 | Katherine BartonChief Growth Officer | Sold plan | 5,049 | $2.53 | $0.0M | Form 4 |
| Nov 20, 2025 | Stephen WinchellChief Innovation Officer | Sold plan | 10,595 | $2.60 | $0.0M | Form 4 |
| Nov 20, 2025 | Dorria L. BallChief People Officer | Sold plan | 4,767 | $2.60 | $0.0M | Form 4 |
| Nov 20, 2025 | Brendan SheeheyGeneral Counsel | Sold plan | 11,849 | $2.60 | $0.0M | Form 4 |
| Nov 20, 2025 | Thomas SternweisSVP, Enterprise Dev. & Strat. | Sold plan | 5,071 | $2.60 | $0.0M | Form 4 |
| Nov 20, 2025 | Katherine BartonChief Growth Officer | Sold plan | 28,896 | $2.60 | $0.1M | Form 4 |
| Nov 20, 2025 | Jonathan MayleSVP, Customer Sales | Sold plan | 4,722 | $2.60 | $0.0M | Form 4 |
| Nov 20, 2025 | Carla VernonChief Executive Officer, Director | Sold plan | 97,505 | $2.60 | $0.3M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Honest Company, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $93.2M | $9.5M | $32.8M | $75.4M | $89.6M |
| Current ratio | 4.4x | 3.0x | 2.8x | 3.6x | 4.0x |
| Quick ratio | 2.8x | 1.2x | 1.5x | 2.1x | 2.6x |
| Total assets | $273M | $241M | $202M | $247M | $225M |
| Total liabilities | $93.5M | $94.2M | $78.5M | $73.1M | $55.7M |
| Shareholders' equity | $179M | $146M | $123M | $174M | $170M |
| Net debt (β = net cash) | β | β | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Honest Company, Inc. passes 4 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 5 | 2 / 8 | 1 / 8 | 4 / 8 | 5 / 8 | 4 / 8 |
| Accruals ratio | β | β1.0% | β0.2% | 10.6% | β26.5% | β3.4% | β13.0% |
| Altman Z'' | β | β4.36 | 0.40 | β2.30 | β4.11 | 0.02 | β0.19 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $236M | $301M | $319M | $314M | $344M | $378M | $371M |
| Gross profit | $75.9M | $108M | $109M | $92.3M | $101M | $145M | $124M |
| Research and development | $5.1M | $5.7M | $7.7M | $7.0M | $6.2M | $6.9M | $7.3M |
| Operating income | β$31.5M | β$13.5M | β$36.8M | β$49.8M | β$38.9M | β$6.3M | β$18.5M |
| Pretax income | β$31.0M | β$14.4M | β$38.6M | β$48.9M | β$39.2M | β$6.0M | β$15.5M |
| Income tax | $0.1M | $0.1M | $0.1M | $0.1M | $0.1M | $0.1M | $0.2M |
| Net income | β$31.1M | β$14.5M | β$38.7M | β$49.0M | β$39.2M | β$6.1M | β$15.7M |
| Net income to common | β$31.1M | β$14.5M | β$30.3M | β$49.0M | β$39.2M | β$6.1M | β$15.7M |
| Diluted EPS | β$0.92 | β$0.43 | β$0.43 | β$0.53 | β$0.42 | β$0.06 | β$0.14 |
| Diluted shares | 0.03B | 0.03B | 0.07B | 0.09B | 0.09B | 0.10B | 0.11B |
| Cash flow | |||||||
| Cash from operations | β$20.0M | β$12.1M | β$38.2M | β$76.3M | $19.4M | $1.5M | $15.1M |
| Capital expenditure | $0.7M | $0.2M | $0.2M | $1.6M | $1.8M | $0.5M | $1.5M |
| Free cash flow | β$20.7M | β$12.3M | β$38.4M | β$77.9M | $17.5M | $1.0M | $13.6M |
| Depreciation and amortization | $7.7M | $4.9M | $4.1M | $2.8M | $2.7M | $2.8M | $2.9M |
| Stock-based compensation | $8.4M | $7.9M | $16.8M | $15.1M | $15.8M | $15.7M | $10.5M |
| Dividends paid | $0.0M | $0.0M | $35.0M | $0.0M | $0.0M | β | β |
| Dividends and buybacks | $0.0M | $0.0M | $35.0M | $0.0M | $0.0M | β | β |
| Balance sheet | |||||||
| Cash and short-term investments | $13.5M | $63.7M | $93.2M | $9.5M | $32.8M | $75.4M | $89.6M |
| Finance lease liabilities | β | β | β | $0.1M | $0.0M | $0.0M | β |
| Current assets | β | $174M | $214M | $189M | $158M | $214M | $202M |
| Current liabilities | β | $54.1M | $48.5M | $63.6M | $56.7M | $59.9M | $50.8M |
| Inventory | β | $76.7M | $75.7M | $116M | $73.5M | $85.3M | $72.5M |
| Property and equipment, net | β | $56.7M | $53.0M | β | β | β | β |
| Goodwill | β | $2.2M | $2.2M | $2.2M | $2.2M | $2.2M | $2.3M |
| Intangible assets | β | $0.5M | $0.4M | $0.4M | $0.3M | $0.2M | $0.2M |
| Total assets | β | $241M | $273M | $241M | $202M | $247M | $225M |
| Total liabilities | β | $101M | $93.5M | $94.2M | $78.5M | $73.1M | $55.7M |
| Preferred stock | β | β | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | β$230M | β$237M | $179M | $146M | $123M | $174M | $170M |
| Margins | |||||||
| Gross margin | 32.2% | 35.9% | 34.3% | 29.4% | 29.2% | 38.2% | 33.3% |
| Operating margin | β13.4% | β4.5% | β11.6% | β15.9% | β11.3% | β1.7% | β5.0% |
| EBITDA margin | β10.1% | β2.9% | β10.3% | β15.0% | β10.5% | β0.9% | β4.2% |
| Net margin | β13.2% | β4.8% | β12.1% | β15.6% | β11.4% | β1.6% | β4.2% |
| FCF margin | β8.8% | β4.1% | β12.0% | β24.8% | 5.1% | 0.3% | 3.7% |
| Returns | |||||||
| Return on capital employed | β | β7.3% | β16.4% | β28.1% | β26.9% | β3.4% | β10.6% |
| Return on equity | β | β | β | β30.1% | β29.1% | β4.1% | β9.1% |
| Return on assets | β | β6.0% | β15.1% | β19.1% | β17.7% | β2.7% | β6.6% |
| Return on tangible equity | β | β | β17.2% | β34.1% | β32.5% | β3.6% | β9.4% |
| Growth | |||||||
| Revenue growth | β | 27.6% | 6.0% | β1.6% | 9.8% | 9.9% | β1.9% |
| FCF growth | β | β | β | β | β | β94.2% | 1,246.3% |
| Share count change | β | 0.5% | 108.7% | 29.6% | 2.5% | 6.1% | 10.9% |
| Financial health | |||||||
| Current ratio | β | 3.2x | 4.4x | 3.0x | 2.8x | 3.6x | 4.0x |
| Quick ratio | β | 1.8x | 2.8x | 1.2x | 1.5x | 2.1x | 2.6x |
| Capital allocation | |||||||
| Capex / revenue | 0.3% | 0.1% | 0.1% | 0.5% | 0.5% | 0.1% | 0.4% |
| Stock comp / revenue | 3.6% | 2.6% | 5.3% | 4.8% | 4.6% | 4.1% | 2.8% |
| Payouts / FCF | β | β | β | β | 0.0% | β | β |
| Quality scores | |||||||
| Piotroski F-score | β | β | 2.0 | 1.0 | 4.0 | 5.0 | 4.0 |
| Altman Z'' | β | β4.4 | 0.4 | β2.3 | β4.1 | 0.0 | β0.2 |
| Accruals ratio | β | β1.0% | β0.2% | 10.6% | β26.5% | β3.4% | β13.0% |
Source: SEC EDGAR XBRL filings (CIK 0001530979). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
