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Primary reporting period: 2026-03-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
e. l. f.
How they make money
e.l.f. Beauty operates a multi-brand, omni-channel business model that generates revenue by selling cosmetics and skin care products through national and international retail partners and its own direct-to-consumer e-commerce channels. The company leverages a "first-to-mass" innovation strategy, utilizing digital insights and a rapid product development cycle to offer prestige-quality products at accessible price points.
Products & services
The company offers a range of beauty products including eye, lip, and face makeup, beauty tools, accessories, and skin care products under its various brand names.
Brands & revenue mix
e.l.f. Cosmetics
Flagship brand offering mass-market cosmetics.
Separate brand revenue is not available in this research.Source
e.l.f. SKIN
Skin care brand.
Separate brand revenue is not available in this research.Source
rhode
Skin care and beauty brand.
Separate brand revenue is not available in this research.Source
Naturium
Skin care brand.
Separate brand revenue is not available in this research.Source
Well People
Clean beauty brand.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
For the fiscal year ended March 31, 2026, Target, Walmart, Amazon, and Sephora accounted for 18%, 13%, 11%, and 10% of net sales, respectively.
Suppliers, materials & equipment
Contract Manufacturers — The company relies on third-party contract manufacturers to produce its products; specific supplier names are not disclosed.Source
Competitors
L’Oréal — Multinational beauty company competing in mass and prestige cosmetics and skin care.Source
Estee Lauder — Multinational beauty company competing in cosmetics and skin care.Source
Coty — Multinational beauty company competing in cosmetics and skin care.Source
Unilever — Multinational consumer goods company with beauty and personal care brands.Source
LVMH — Multinational luxury goods company with beauty and cosmetics brands.Source
Shiseido — Multinational beauty company competing in cosmetics and skin care.Source
Beiersdorf — Multinational beauty and personal care company.Source
Procter & Gamble — Multinational consumer goods company with beauty and personal care brands.Source
These are saved observations about business performance, not predictions. Review the company filings alongside the interpretation below. Latest stored financial period end: 2026-06-30.
Total debt increased 192.8% versus the same quarter last year.
Compare the added borrowing with available cash, cash generation and maturities. A percentage increase from a small starting balance can look large without measuring the full debt burden.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
33
Poor
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
57
Fair
Financial Strength
38
Business Quality / Moat
87
Management
45
Growth Quality
59
Risk / Durability
62
Weak Company · Expensive Stock
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
32
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
41/100
Building Historical Record
Model Score 41/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
What we like
•Recent buyback activity is present
What to watch
•Valuation is a weaker part of the current profile
•Revenue fundamentals are weak
•Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for ELF
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•Can ELF maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
•Is ELF's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
•Is ELF's debt load manageable relative to cash generation, interest costs and upcoming maturities?
•What future growth or profitability would be needed to justify ELF's current valuation?
•What does the current fundamental change risk warning mean for the reliability or interpretation of ELF's score?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for ELF
Detected from reported data — verify before acting.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total calls
0% Bullish (0) 0% Bearish (0)
No personal call yet on ELF.
Potential upside factors
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+Productivity and value proposition.
+Disruptive marketing engine.
+Omni-channel distribution strategy.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Household & Personal Products industry.
−Reliance on a limited number of retail customers.
−Dependence on third-party contract manufacturers.
−Intense competition in the beauty industry.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdown
Wall Street Score
Weak33/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Poor
38
Debt Cost4.4%
Debt Reduction YoY-192.9%
Debt / Equity0.81x
Tap for breakdown →
Revenue
Poor
33
Revenue YoY7.7%
Revenue CAGR26.4%
Net Margin3.4%
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Asset
Fair
68
Asset Growth YoY91.8%
Liquidation/Share$19.69
Net Assets/MCap0.26x
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Capital
Poor
7
Earnings Yield1.0%
Buyback Yield0.5%
Debt Cost4.4%
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Management
Weak
45
ROIC5.3%
ROE5.1%
ROA2.4%
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Moat
Strong
87
EPS Growth-18.0%
FCF/Share Growth35.3%
Rev/Share Growth28.5%
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Valuation
Poor
0
Intrinsic Value$38.55
Value Reference$23.13
MOS-196.3%
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Buffett
Weak
46
Revenue33
Moat87
Valuation0
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MOS
Poor
0
MOS %-196.3%
Value Reference$23.13
Deep Discount Reference$15.42
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Financial
Poor
21
Interest Coverage3.2x
ROIC5.3%
FCF Yield3.2%
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Master
Poor
22
Financial21
Valuation0
Debt38
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Resilience
Fair
56
Survival Years0.4 yrs
Current Ratio2.35x
FCF Margin11.6%
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Score Changes
6 historical score records available
Previous Score
33
Sep 21, 2026
Change
-0.2
points
Current Score
33
Oct 1, 2026
Category Changes
Revenue-0.2
Debt0
Assets-0.4
Capital-1.0
Management0
Moat0
Valuation0
Buffett-0.1
ELF decreased 0.2 points because some fundamentals weakened.
Projected Score
Projected Score
42
Projected Change
+8.9 points
Preliminary comparable-period financial changes suggest improvement of approximately 8.9 points. This is a projected estimate, not the official WallStreetScore.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2026
2025
2024
2023
2022
2021
2020
2018
2017
2016
Revenue
$1.76B
$1.64B
$1.31B
$1.02B
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Cost of Revenue
$450.5M
$479.1M
$377.8M
$299.8M
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Gross Profit
$1.31B
$1.16B
$935.7M
$724.1M
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Research & Development
$0.00
$0.00
$0.00
$0.00
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SG&A Expenses
$1.11B
$1.03B
$777.7M
$570.8M
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Operating Expenses
$1.13B
$1.03B
$777.7M
$574.4M
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EBITDA
$221.9M
$160.6M
$206.2M
$182.6M
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Operating Income
$185.0M
$131.3M
$158.0M
$149.7M
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Interest Expense
$46.0M
$40.8M
$17.2M
$11.8M
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Income Before Tax
$83.6M
$40.5M
$145.5M
$141.0M
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Income Tax Expense
$24.0M
$14.1M
$33.4M
$13.3M
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Net Income
$59.6M
$26.3M
$112.1M
$127.7M
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Basic EPS
$1.00
$0.45
$1.99
$2.33
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Basic Shares
59.14M
58.26M
56.21M
54.75M
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Diluted Shares
59.73M
59.35M
58.34M
57.79M
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Upgrade to Premium for up to 10 annual periods, where available.
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
Margins expanded
Cash position grew
What Weakened
Debt increased
Potential Score Impact
Positive indicators included revenue growth, EPS growth, cash levels, net income margin. Pressure indicators included debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 35.5%. EPS increased 93.1%. Cash increased 102.5%. Total debt increased 192.8%. Net income margin improved by 4.5 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
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Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
Premium
5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
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