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Household & personal products · Consumer Defensive · Fiscal year ends Mar 31
e.l.f. Beauty reported revenue of $1.6B in the fiscal year ended Mar 2026, up 24.6% from the year before. Operating income was $74M, an operating margin of 4.5%, and net income was $26M. Operating cash flow of $213M less capital expenditure of $22M left free cash flow of $190M. Net debt was $552M.
Ranks among the 12 household & personal products companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue | 392 | 579 | 1,024 | 1,314 | 1,636 |
| Cost of revenue | 140 | 188 | 300 | 378 | 479 |
| Gross profit | 252 | 390 | 724 | 936 | 1,157 |
| Selling, general & admin | 222 | 322 | 574 | 778 | 1,026 |
| Operating income | 29.8 | 68.1 | 150 | 158 | 73.6 |
| Net interest incomeBanks | −2.4 | −2.0 | −7.0 | – | – |
| Pre-tax income | 25.4 | 64.1 | 141 | 145 | 40.5 |
| Income tax | 3.7 | 2.5 | 13.3 | 33.4 | 14.1 |
| Net income | 21.8 | 61.5 | 128 | 112 | 26.3 |
| Diluted EPS | 0.41 | 1.11 | 2.21 | 1.92 | 0.44 |
| Diluted shares | 53.7 | 55.3 | 57.8 | 58.3 | 59.4 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 43.4 | 121 | 108 | 149 | 290 |
| Receivables | 45.6 | 67.9 | 124 | 126 | 175 |
| Inventory | 84.5 | 81.3 | 191 | 187 | 220 |
| Current assets | 193 | 303 | 477 | 541 | 789 |
| Net PP&E | 10.6 | 7.9 | 14.0 | 28.8 | 41.5 |
| Goodwill | 172 | 172 | 341 | 341 | 853 |
| Total assets | 495 | 596 | 1,129 | 1,248 | 2,394 |
| Payables | 19.2 | 31.4 | 81.1 | 72.2 | 97.5 |
| Current liabilities | 65.0 | 108 | 299 | 177 | 336 |
| Long-term debt | 91.1 | 60.9 | 162 | 257 | 842 |
| Total liabilities | 182 | 185 | 487 | 487 | 1,264 |
| Shareholders' equity | 312 | 411 | 643 | 761 | 1,131 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 19.5 | 102 | 71.2 | 134 | 213 |
| Capital expenditure | 4.8 | 1.7 | 8.7 | 18.5 | 22.4 |
| Free cash flow | 14.7 | 100 | 62.5 | 115 | 190 |
| Depreciation & amortisation | 27.1 | 17.6 | 30.2 | 44.1 | 79.4 |
| Stock-based compensation | 19.6 | 29.1 | 40.6 | 71.8 | 86.9 |
| Acquisitions | 0.0 | 0.0 | 275 | 0.0 | 582 |
| Share buybacks | 0.0 | 0.0 | 0.0 | 67.1 | 50.0 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 47.6% | 76.9% | 28.3% | 24.6% |
| Operating income growth (YoY) | – | 128.9% | 119.7% | 5.6% | −53.4% |
| EPS growth (YoY) | – | 170.7% | 99.1% | −13.1% | −77.1% |
| Gross margin | 64.2% | 67.4% | 70.7% | 71.2% | 70.7% |
| Operating margin | 7.6% | 11.8% | 14.6% | 12.0% | 4.5% |
| Net margin | 5.6% | 10.6% | 12.5% | 8.5% | 1.6% |
| Return on equityBlank when equity is negative | 7.0% | 15.0% | 19.9% | 14.7% | 2.3% |
| ROCEEBIT ÷ (assets − current liabilities) | 6.9% | 14.0% | 18.0% | 14.8% | 3.6% |
| Free cash flow margin | 3.7% | 17.3% | 6.1% | 8.8% | 11.6% |
| Cash conversion (CFO ÷ net income) | 0.90x | 1.66x | 0.56x | 1.19x | 8.07x |
| Receivable days | 42 | 43 | 44 | 35 | 39 |
| Inventory days | 220 | 158 | 233 | 181 | 168 |
| Payable days | 50 | 61 | 99 | 70 | 74 |
| Debt ÷ equity | 0.29x | 0.15x | 0.25x | 0.34x | 0.74x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 47.7 | −59.9 | 53.6 | 108 | 552 |
| Current ratio | 2.97x | 2.81x | 1.59x | 3.05x | 2.35x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.