Natural Alternatives International, Inc. (NAII) Stock

Natural Alternatives International, Inc. (NAII) is a Healthcare stock trading at $2.26 (as of 2026-08-21), with a market capitalization of $13.14M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Natural Alternatives International, Inc. formulates, manufactures, and markets nutritional supplements and related health care products, selling its services in the United States and internationally. It operates through private-label contract manufacturing for customer-branded supplement products and through patent and trademark licensing, and it also sells beta-alanine ingredients under the CarnoSyn and SR CarnoSyn names.

Understand Natural Alternatives International, Inc.: how it makes money

Natural Alternatives International formulates, manufactures, and markets nutritional supplements, earning money through private-label contract manufacturing for companies that sell supplements and through patent and trademark licensing.

Its profit model is split between contract manufacturing (earning from making products for other brands) and patent and trademark licensing (earning from licensing its health-related intellectual property).

Business quality (Weak): Clear segment business model (manufacturing plus IP licensing), but no segment revenue or operating KPI data was provided here.

Bull case

  • Two revenue engines: The company operates across Private-Label Contract Manufacturing and Patent and Trademark Licensing, so results can be supported by both manufacturing services and licensing.
  • Service and IP-based offerings: It provides private-label contract manufacturing services (including customized formulation and clinical studies per the description) and offers strategic partnering and licensing of patents and trademarks.

Bear case

  • Thin profitability in the provided snapshot: The provided gross margin is 4.2% and the operating margin is -7.6%, indicating profitability challenges based on the latest provided period.
  • Manufacturing is contract-dependent: Because contract manufacturing is tied to customers that market and distribute supplements, business performance can be sensitive to customer ordering and manufacturing utilization (structural risk for this model).
Valuation — source: SEC EDGAR (first-party)
Price$2.26
Market Cap$13.14M
Price / Book0.21
Price / Sales0.09
FCF Yield-83.0%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$129.86M
Net Margin-10.5%
Revenue Growth (YoY)23.3%
EPS Growth (YoY)94.6%
FCF Growth (YoY)-73.0%
Financial Health — source: SEC EDGAR
Altman Z-Score1.55 (distress)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.7
Industry P/E (Pharmaceutical Products)17.2
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderCALDWELL SUTTER CAPITAL, INC. ($1.31M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryPharmaceutical Products
CEOMark A. LeDoux
Employees296
CountryUS
IPO Date1993-10-28

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NAII earnings history · NAII institutional & insider holders · NAII KPIs & operating metrics · NAII financials · NAII investor presentations & press releases · NAII SEC filings · NAII peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.