A Business at a Glance
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e.l.f. Beauty, Inc.
ELF
$4.6B
Mkt Cap
$77.36
+1.59%
e.l.f. Beauty, Inc. (ELF) has a current P/E ratio of 43.7, compared to its historical median P/E of 59.3. The stock is currently considered Fair based on its historical valuation range.
e.l.f. Beauty, Inc. (ELF) has a 5-year average return on invested capital (ROIC) of 12.5%. This indicates solid capital allocation.
e.l.f. Beauty, Inc. (ELF) has a market capitalization of $4.6B. It is classified as a mid-cap stock.
e.l.f. Beauty, Inc. (ELF) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 1.08%.
Based on historical P/E analysis, e.l.f. Beauty, Inc. (ELF) appears fair. The current P/E of 43.7 is 26% below its historical median of 59.3. The estimated fair value CAGR (P/E method) is 46.4%.
e.l.f. Beauty, Inc. (ELF) operates in the Perfumes, Cosmetics & Other Toilet Preparations industry, within the Consumer Defensive sector.
e.l.f. Beauty, Inc. (ELF) reported annual revenue of $1.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
e.l.f. Beauty is a multi-brand beauty company offering clean, vegan, and cruelty-free cosmetics and skincare products across five brands: e.l.f. Cosmetics, e.l.f. SKIN, Naturium, Well People, and Keys Soulcare. The company operates a value-driven business model, with e.l.f. Cosmetics positioned at approximately $6.50 average price point versus mass competitors at $9.50+ and prestige brands at $20+, enabling broad consumer appeal without perceived quality compromise. Distribution spans online channels and leading retailers including Target, Walmart, Ulta Beauty, Amazon, and Sephora, with strong international expansion underway across 14 countries. The company differentiates through rapid innovation and first-to-mass product introductions, a disruptive digital marketing engine leveraging social platforms and cultural moments, and a unique employee ownership model granting annual equity awards to all full-time employees across all levels. Unit economics are characterized by subscription-like recurring consumption patterns in core categories, with the business model supported by Fair Trade Certified manufacturing and dermatologist-developed formulations that drive consumer loyalty and market share gains.
【Organic growth stabilizing with innovation focus】 Management is implementing targeted pricing and innovation interventions to strengthen core e.l.f. brand performance after spring 2026 innovation underperformed expectations, with new products fast-tracked for holiday launch. Rhode, the high-growth acquisition, continues to exceed expectations with strong retail expansion momentum, though organic e.l.f. growth is expected to moderate in the near term as the company cycles significant prior-year distribution gains at Target and Dollar General. International expansion remains a strategic priority with plans to grow share across existing markets and expand into new geographies, while the company navigates elevated tariff costs and commodity inflation pressures. Management is pursuing operational leverage through SG&A efficiency and exploring tariff refunds to reinvest in consumer value and unit growth acceleration.
| Metric | Target | Period |
|---|---|---|
| Adjusted EBITDA | $379 million-$385 million | FY2027 |
| Adjusted net income | $198 million-$201 million | FY2027 |
| Adjusted EPS | $3.27-$3.32 per diluted share | FY2027 |
| Organic net sales growth | 4%-5% | FY2027 |
Adjusted EBITDA (FY2027): “Adjusted EBITDA between $379 million-$385 million”
Adjusted net income (FY2027): “adjusted net income between $198 million-$201 million”
Adjusted EPS (FY2027): “Adjusted EPS of $3.27-$3.32 per diluted share”
Organic net sales growth (FY2027): “We expect organic net sales in fiscal 2026 to be up approximately 4%-5% year-over-year.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q2 FY2027 Earnings Call, Q1 FY2027 Earnings Call, Q4 FY2026 Earnings Call, Q3 FY2026 Earnings Call
| Metric | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Revenue | 1.6B | 1.6B | 1.3B | 1.0B | 579M | 392M |
| Net Income | 26M | 26M | 112M | 128M | 62M | 22M |
| EPS | $0.44 | $0.44 | $1.92 | $2.21 | $1.11 | $0.41 |
| Free Cash Flow | 190M | 190M | 115M | 62M | 100M | 15M |
| ROIC | 2.4% | 3.1% | 12.1% | 21.8% | 18.1% | 7.2% |
| Gross Margin | 70.7% | 70.7% | 71.2% | 70.7% | 67.4% | 64.2% |
| Debt/Equity | 1.00 | 1.00 | 0.67 | 0.55 | 0.16 | 0.31 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 74M | 74M | 158M | 150M | 68M | 30M |
| Operating Margin | 4.5% | 4.5% | 12.0% | 14.6% | 11.8% | 7.6% |
| ROE | 2.3% | 2.8% | 16.0% | 24.2% | 17.0% | 7.5% |
| Shares Outstanding | 60M | 60M | 58M | 58M | 55M | 53M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 135M | 191M | 230M | 270M | 267M | 283M | 318M | 392M | 579M | 1.0B | 1.3B | 1.6B | 1.6B |
| Gross Margin | 45.5% | 52.4% | 57.6% | 61.0% | 60.9% | 64.0% | 64.8% | 64.2% | 67.4% | 70.7% | 71.2% | 70.7% | 70.7% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 56M | 75M | 109M | 131M | 137M | 157M | 194M | 222M | 322M | 574M | 778M | 1.0B | 1.0B |
| EBIT | 5.3M | 26M | 23M | 33M | 26M | 30M | 9.4M | 30M | 68M | 150M | 158M | 74M | 74M |
| Op. Margin | 4.0% | 13.4% | 10.1% | 12.3% | 9.8% | 10.6% | 3.0% | 7.6% | 11.8% | 14.6% | 12.0% | 4.5% | 4.5% |
| Net Income | N/A | 4.4M | N/A | 33M | 16M | 18M | 6.2M | 22M | 62M | 128M | 112M | 26M | 26M |
| Net Margin | N/A | 2.3% | N/A | 12.4% | 5.8% | 6.3% | 2.0% | 5.6% | 10.6% | 12.5% | 8.5% | 1.6% | 1.6% |
| Non-Recurring | -71K | -571K | -260K | -336K | 0 | 6.0M | 2.6M | 202K | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | N/A | 15.6% | N/A | 10.6% | 6.8% | 6.9% | 2.8% | 7.2% | 18.1% | 21.8% | 12.1% | 3.1% | 2.4% |
| ROE | N/A | -11.7% | N/A | 20.0% | 7.3% | 7.8% | 2.4% | 7.5% | 17.0% | 24.2% | 16.0% | 2.8% | 2.3% |
| ROA | N/A | 2.4% | N/A | 8.0% | 3.6% | 4.0% | 1.3% | 4.4% | 11.3% | 14.8% | 9.4% | 1.4% | 1.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -8.4M | 25M | 2.1M | 12M | 56M | 44M | 29M | 20M | 102M | 71M | 134M | 213M | 213M |
| Free Cash Flow | -10M | 14M | -7.1M | 4.8M | 47M | 35M | 23M | 15M | 100M | 62M | 115M | 190M | 190M |
| Owner Earnings | -9.1M | 14M | -18M | -16M | 21M | 6.0M | -15M | -27M | 55M | 362K | 18M | 46M | 46M |
| CapEx | 1.6M | 10M | 9.2M | 7.5M | 8.9M | 9.4M | 6.5M | 4.8M | 1.7M | 8.7M | 19M | 22M | 22M |
| Maint. CapEx | 400K | 10M | 13M | 15M | 18M | 23M | 25M | 27M | 18M | 30M | 44M | 79M | 79M |
| Growth CapEx | 1.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 400K | 10M | 13M | 15M | 18M | 23M | 25M | 27M | 18M | 30M | 44M | 79M | 79M |
| CapEx/OCF | N/A | N/A | N/A | 60.9% | 16.0% | 21.3% | 22.0% | 24.7% | 1.7% | 12.2% | 13.8% | N/A | 10.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 7.9M | 0 | 0 | 0 | 0 | 67M | 50M | 50M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 1.5% | N/A | N/A | N/A | N/A | 1.8% | 0.0% | 1.1% |
| Stock-Based Comp | 287K | 503K | 7.1M | 13M | 17M | 15M | 20M | 20M | 29M | 41M | 72M | 87M | 87M |
| Debt Repayment | 2.0M | 2.6M | 152M | 8.3M | 8.3M | 9.5M | 12M | 55M | 30M | 7.9M | 173M | 15M | 15M |
| Balance Sheet | |||||||||||||
| Net Debt | 140M | 131M | 150M | 146M | 99M | 92M | 69M | 54M | -54M | 243M | 365M | 839M | 839M |
| Cash & Equiv. | 4.7M | 14M | 15M | 10M | 51M | 46M | 58M | 43M | 121M | 108M | 149M | 290M | 290M |
| Long-Term Debt | 145M | 135M | 156M | 148M | 141M | 139M | 127M | 97M | 66M | 262M | 257M | 842M | 842M |
| Debt/Equity | -10.50 | -2.40 | 1.17 | 0.81 | 0.66 | 0.57 | 0.47 | 0.31 | 0.16 | 0.55 | 0.67 | 1.00 | 1.00 |
| Interest Coverage | 0.5 | 2.0 | 1.4 | 3.8 | 3.3 | 4.7 | 2.3 | 12.2 | 33.8 | 21.3 | N/A | N/A | N/A |
| Equity | -14M | -60M | 141M | 194M | 229M | 242M | 270M | 312M | 411M | 643M | 761M | 1.1B | 1.1B |
| Total Assets | 7.6M | 361M | 415M | 417M | 436M | 453M | 487M | 495M | 596M | 1.1B | 1.2B | 2.4B | 2.4B |
| Total Liabilities | 1.9M | 224M | 274M | 223M | 207M | 211M | 218M | 182M | 185M | 487M | 487M | 1.3B | 1.3B |
| Intangibles | N/A | 121M | 113M | 106M | 99M | 102M | 94M | 86M | 78M | 225M | 208M | 553M | 553M |
| Retained Earnings | N/A | -67M | -560M | -527M | -512M | -512M | -505M | -484M | -422M | -294M | -182M | -156M | -156M |
| Working Capital | N/A | 25M | 45M | 72M | 99M | 81M | 97M | 128M | 195M | 178M | 364M | 453M | 453M |
| Current Assets | N/A | 71M | 125M | 124M | 142M | 132M | 170M | 193M | 303M | 477M | 541M | 789M | 789M |
| Current Liabilities | N/A | 46M | 80M | 51M | 43M | 51M | 73M | 65M | 108M | 299M | 177M | 336M | 336M |
| Per Share Data | |||||||||||||
| EPS | -709.35 | 126.32 | -39.47 | 0.68 | 0.32 | 0.35 | 0.12 | 0.41 | 1.11 | 2.21 | 1.92 | 0.44 | 0.44 |
| Owner EPS | -329.87 | 397.96 | -0.40 | -0.32 | 0.43 | 0.12 | -0.30 | -0.51 | 1.00 | 0.01 | 0.31 | 0.77 | 0.77 |
| Book Value | -500.34 | -1,751.02 | 3.11 | 3.94 | 4.73 | 4.74 | 5.19 | 5.88 | 7.41 | 11.12 | 13.03 | 18.90 | 18.90 |
| Cash Flow/Share | -304.97 | 710.84 | 0.05 | 0.25 | 1.15 | 0.87 | 0.57 | 0.37 | 1.84 | 1.23 | 2.29 | 3.55 | 1.77 |
| Dividends/Share | N/A | N/A | 1.79 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 0.0M | 0.0M | 45.3M | 49.2M | 48.5M | 51.1M | 51.9M | 53.1M | 55.4M | 57.8M | 58.4M | 59.8M | 59.8M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | 38.8 | 59.3 | 29.5 | 225.9 | 61.6 | 71.8 | 88.7 | 33.8 | N/A | 175.8 |
| P/FCF | N/A | N/A | N/A | 269.0 | 19.7 | 15.1 | 61.2 | 91.2 | 44.1 | 181.2 | 32.8 | N/A | 24.3 |
| EV/EBIT | N/A | N/A | N/A | 43.5 | 39.3 | 21.1 | 158.8 | 45.6 | 62.4 | 76.6 | 23.7 | N/A | 74.2 |
| Price/Book | N/A | N/A | N/A | 6.7 | 4.0 | 2.2 | 5.2 | 4.3 | 10.8 | 17.6 | 5.0 | N/A | 4.1 |
| Price/Sales | N/A | N/A | N/A | 5.0 | 4.1 | 2.7 | 3.2 | 3.9 | 4.2 | 7.2 | 6.1 | N/A | 2.8 |
| FCF Yield | N/A | N/A | N/A | 0.4% | 5.1% | 6.6% | 1.6% | 1.1% | 2.3% | 0.6% | 3.0% | N/A | 4.1% |
| Market Cap | N/A | N/A | N/A | 1.3B | 920M | 528M | 1.4B | 1.3B | 4.4B | 11.3B | 3.8B | 0 | 4.6B |
| Avg. Price | N/A | N/A | N/A | 27.60 | 22.85 | 15.14 | 19.73 | 28.89 | 43.63 | 126.84 | 136.54 | 0.00 | 77.36 |
| Year-End Price | N/A | N/A | N/A | 26.41 | 18.97 | 10.33 | 27.11 | 25.25 | 79.71 | 196.03 | 64.83 | 0.00 | 77.36 |
e.l.f. Beauty, Inc. passes 5 of 9 quality checks, suggesting mixed fundamentals.
e.l.f. Beauty, Inc. trades at 43.7x trailing earnings, compared to its 15-year median P/E of 59.3x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 21.3x vs a median of 38.5x. The company's 5-year average ROIC is 12.5% with a gross margin of 68.9%. Total shareholder yield (buybacks) is 1.1%. At current prices, the estimated annualized return to fair value is +16.6%.
e.l.f. Beauty, Inc. (ELF) has a net profit margin of 1.6%. This is a modest margin.
e.l.f. Beauty, Inc. (ELF) generated $190 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
e.l.f. Beauty, Inc. (ELF) has a debt-to-equity ratio of 1.00. This indicates moderate leverage.
e.l.f. Beauty, Inc. (ELF) reported earnings per share (EPS) of $0.44 in its most recent fiscal year.
e.l.f. Beauty, Inc. (ELF) has a return on equity (ROE) of 2.8%. This indicates moderate shareholder returns.
e.l.f. Beauty, Inc. (ELF) has a 5-year average gross margin of 68.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 12 years of financial data for e.l.f. Beauty, Inc. (ELF), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
e.l.f. Beauty, Inc. (ELF) has a book value per share of $18.90, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management is implementing targeted pricing and innovation interventions to strengthen core e.l.f. brand performance after spring 2026 innovation underperformed expectations, with new products fast-tracked for holiday launch. Rhode, the high-growth acquisition, continues to exceed expectations with strong retail expansion momentum, though organic e.l.f. growth is expected to moderate in the near term as the company cycles significant prior-year distribution gains at Target and Dollar General. International expansion remains a strategic priority with plans to grow share across existing markets and expand into new geographies, while the company navigates elevated tariff costs and commodity inflation pressures. Management is pursuing operational leverage through SG&A efficiency and exploring tariff refunds to reinvest in consumer value and unit growth acceleration.
Based on recent SEC filings and earnings calls, e.l.f. Beauty, Inc. (ELF) has provided the following forward guidance: Adjusted EBITDA: $379 million-$385 million (FY2027); Adjusted net income: $198 million-$201 million (FY2027); Adjusted EPS: $3.27-$3.32 per diluted share (FY2027); Organic net sales growth: 4%-5% (FY2027).