Herbalife Misstates Even More Key Metrics

“If you tell the truth, you don’t have to remember anything.” – Mark Twain

I was looking at Herbalife’s new 2015 Statement of Average Gross compensation today. It can be found here.

In case the company updates it, I have saved a legacy copy here.

I was sharing the document with a couple people, including fantastic analyst Connor Davidson, who promptly pointed out on Twitter today that Herbalife has misstated another slew of numbers relevant to how the business is doing.

Pay attention to the numbers for “Sales Leaders with a Downline”:

more mistatements

All of the percentages are wrong and could be argued to be far better looking than they should be.

They list vs. The calculation (# of ppl/group total*100)
0.0% vs. 0.3%
0.0% vs. 0.6%
2.4% vs 0.89%
2.4% vs 1.72%
4.5% vs 3.03%
6.1% vs 3.9%
28.7% vs 16.9%
45.9% vs 62.3%
10% vs 10.56%
How many data misstatements must this company make before regulators do something?