ELF Consumer Defensive

e.l.f. Beauty, Inc.

$111.50+0.74%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Consumer Defensive
Industry: Household & Personal Products
Country: United States
Market cap: 6.6B USD
Enterprise value: 7.2B USD
Full-time employees: 849

Overall health

Strength: growing faster than most peersgrowing faster than peers
Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.60 vs a peer median of 0.41)higher risk: bigger price swings (beta 1.60 vs peers 0.41)

Ranks #491 of 761 consumer defensive companies (bottom 36%)

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $199M vs $117M spent repurchasing shares over the 3 fiscal years to FY Mar 2026.
Over three fiscal years e.l.f. Beauty recorded $199M of stock-based pay expense and spent $117M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years e.l.f. Beauty recorded $199M of stock-based pay expense and spent $117M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Borrowing rising faster than profit. Since FY Mar 2023: debt +1167%, operating profit +8.1%.
e.l.f. Beauty's debt grew 1167% since FY Mar 2023 while operating profit changed +8.1%.
Sales growing faster than profits. Since FY Mar 2023: revenue +183%, operating profit +8.1%.
Since FY Mar 2023, e.l.f. Beauty's revenue changed +183% but operating profit only +8.1%: costs are rising faster than sales.
Cash flow well above reported profit. Free cash flow is 4.7× reported profit.
Free cash flow is 4.7× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

StockQuotient Score

43/ 100

Oct 5 43 → Nov 4 43

Valuation

Is the price right?

18/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ EBITDA yield
▼ Earnings yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield0.9%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -1.21Sector median: 0.0453 · MAD: 0.0301

EBITDA yield3.1%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -1.28Sector median: 0.0865 · MAD: 0.0435

Free cash flow yield4.3%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.45Sector median: 0.0622 · MAD: 0.0441

Other data (not scored)

Book yield17.8%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5381 · MAD: 0.2865

Growth

Is it growing?

94/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 7.7%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-41.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.70Sector median: 0.0154 · MAD: 0.2529

3-year revenue growth37.9%

SEC filings · 3 years to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 4.25Sector median: 0.0366 · MAD: 0.0470

Revenue growth31.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 4.86Sector median: 0.0278 · MAD: 0.0585

Profitability

Does it earn well?

39/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Operating margin rose 2.7 points to 7.2%

Why

Weaker than most peers on:

▼ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin7.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.07Sector median: 0.0759 · MAD: 0.0508

Return on assets2.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.58Sector median: 0.0396 · MAD: 0.0262

Return on invested capital6.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.24Sector median: 0.0766 · MAD: 0.0673

Other data (not scored)

Gross margin74.4%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.3182 · MAD: 0.1263

Return on equity5.1%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0831 · MAD: 0.0675

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Beta
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.60

Yahoo Finance · 5-year monthly beta vs the marketOutlier capped at sector 5th/95th percentile33% base weight · Z-score -4.30Sector median: 0.4070 · MAD: 0.1690

Current ratio2.55×

SEC filings · latest balance sheetReported value33% base weight · Z-score 1.58Sector median: 1.5250 · MAD: 0.6460

Debt / equity0.71×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.81Sector median: 0.4234 · MAD: 0.3581

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about e.l.f. Beauty

Is e.l.f. Beauty getting weaker?: Its latest SEC filing (Aug 6, 2026) got stronger: operating margin rose 2.7 points to 7.2%. Its overall score is unchanged at 43/100 since Oct 28, 2026.
How is e.l.f. Beauty valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 18/100 against 823 consumer defensive peers. EBITDA yield 3.1% vs a peer median of 8.7% (weaker than 82% of peers).EBITDA yield 3.1% vs peers 8.7% (weaker than 82% of peers).
Is e.l.f. Beauty growing?: Yes, faster than most of its peers. Growth scores 94/100 against 823 consumer defensive peers. 3-year revenue growth 37.9% vs a peer median of 3.7% (stronger than 95% of peers).3-year revenue growth 37.9% vs peers 3.7% (stronger than 95% of peers). Earnings per share growth -41.4% vs a peer median of 1.5% (weaker than 84% of peers).Earnings per share growth -41.4% vs peers 1.5% (weaker than 84% of peers).
How profitable is e.l.f. Beauty?: Less profitable than most of its peers. Profitability scores 39/100 against 823 consumer defensive peers. Return on assets 2.4% vs a peer median of 4.0% (weaker than 67% of peers).Return on assets 2.4% vs peers 4.0% (weaker than 67% of peers).
How risky is e.l.f. Beauty?: Higher risk relative to 823 consumer defensive peers, judged on debt, liquidity and share-price swings. Current ratio 2.55× vs a peer median of 1.52× (stronger than 75% of peers).Current ratio 2.55× vs peers 1.52× (stronger than 75% of peers). Beta 1.60 vs a peer median of 0.41 (weaker than 100% of peers).Beta 1.60 vs peers 0.41 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 6, 2026 · compared with the quarter ended Mar 31, 2026

Got stronger

Operating margin rose 2.7 points to 7.2%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	1.6B USD	1.8B USD	+7.7%
Net income (12 months)	26.3M USD	59.6M USD	+126.5%
Operating margin	4.5%	7.2%	+2.7 pts
Free cash flow (12 months)	190.1M USD	280.2M USD	+47.4%
Debt	841.7M USD	834.2M USD	−0.9%
Cash	289.7M USD	344.2M USD	+18.8%
Shares outstanding	59.4M	59.0M	−0.7%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Consumer Defensive · 91 companies

Valuations in Consumer Defensive are within their usual range since 2016.

30% of months since 2016 were valued lower than now.
18% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values −4% and earnings +7% (medians): prices and earnings moved broadly together.
Median price-to-sales is −58% vs the whole market, against a usual −39%.

2016Shaded: most expensive fifth of its range2026

Shown for Consumer Defensive: too few Household & Personal Products companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Mar 2022	FY Mar 2023	FY Mar 2024	FY Mar 2025	FY Mar 2026	Change
Gross margin	64.2%	67.4%	70.7%	71.2%	70.7%	▼ 0.5 pts
Operating margin	7.6%	11.8%	14.6%	12.0%	4.5%	▼ 7.5 pts
Net margin	5.6%	10.6%	12.5%	8.5%	1.6%	▼ 6.9 pts
Return on assets (ROA)	4.4%	10.3%	11.3%	9.0%	1.1%	▼ 7.9 pts
Return on equity (ROE)	7.0%	15.0%	19.9%	14.7%	2.3%	▼ 12 pts
Free cash flow margin	3.7%	17.3%	6.1%	8.8%	11.6%	▲ 2.8 pts
Current ratio	2.97×	2.81×	1.59×	3.05×	2.35×	▼ 23%
Quick ratio	1.67×	2.06×	0.95×	2.00×	1.69×	▼ 15%
Debt to equity	0.31×	0.16×	0.41×	0.34×	0.74×	▲ 121%

ELF price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: growing faster than most peersgrowing faster than peers

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.60 vs a peer median of 0.41)higher risk: bigger price swings (beta 1.60 vs peers 0.41)

Ranks #491 of 761 consumer defensive companies (bottom 36%)

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $199M vs $117M spent repurchasing shares over the 3 fiscal years to FY Mar 2026.

Over three fiscal years e.l.f. Beauty recorded $199M of stock-based pay expense and spent $117M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years e.l.f. Beauty recorded $199M of stock-based pay expense and spent $117M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

Borrowing rising faster than profit. Since FY Mar 2023: debt +1167%, operating profit +8.1%.

e.l.f. Beauty's debt grew 1167% since FY Mar 2023 while operating profit changed +8.1%.

Sales growing faster than profits. Since FY Mar 2023: revenue +183%, operating profit +8.1%.

Since FY Mar 2023, e.l.f. Beauty's revenue changed +183% but operating profit only +8.1%: costs are rising faster than sales.

Cash flow well above reported profit. Free cash flow is 4.7× reported profit.

Free cash flow is 4.7× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

Questions investors ask about e.l.f. Beauty

Is e.l.f. Beauty getting weaker?

Its latest SEC filing (Aug 6, 2026) got stronger: operating margin rose 2.7 points to 7.2%. Its overall score is unchanged at 43/100 since Oct 28, 2026.

How is e.l.f. Beauty valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 18/100 against 823 consumer defensive peers. EBITDA yield 3.1% vs a peer median of 8.7% (weaker than 82% of peers).EBITDA yield 3.1% vs peers 8.7% (weaker than 82% of peers).

Is e.l.f. Beauty growing?

Yes, faster than most of its peers. Growth scores 94/100 against 823 consumer defensive peers. 3-year revenue growth 37.9% vs a peer median of 3.7% (stronger than 95% of peers).3-year revenue growth 37.9% vs peers 3.7% (stronger than 95% of peers). Earnings per share growth -41.4% vs a peer median of 1.5% (weaker than 84% of peers).Earnings per share growth -41.4% vs peers 1.5% (weaker than 84% of peers).

How profitable is e.l.f. Beauty?

Less profitable than most of its peers. Profitability scores 39/100 against 823 consumer defensive peers. Return on assets 2.4% vs a peer median of 4.0% (weaker than 67% of peers).Return on assets 2.4% vs peers 4.0% (weaker than 67% of peers).

How risky is e.l.f. Beauty?

Higher risk relative to 823 consumer defensive peers, judged on debt, liquidity and share-price swings. Current ratio 2.55× vs a peer median of 1.52× (stronger than 75% of peers).Current ratio 2.55× vs peers 1.52× (stronger than 75% of peers). Beta 1.60 vs a peer median of 0.41 (weaker than 100% of peers).Beta 1.60 vs peers 0.41 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

1.6B USD

1.8B USD

+7.7%

Net income (12 months)

26.3M USD

59.6M USD

+126.5%

Operating margin

4.5%

7.2%

+2.7 pts

Free cash flow (12 months)

190.1M USD

280.2M USD

+47.4%

Debt

841.7M USD

834.2M USD

−0.9%

Cash

289.7M USD

344.2M USD

+18.8%

Shares outstanding

59.4M

59.0M

−0.7%

Key ratios

FY Mar 2022

FY Mar 2023

FY Mar 2024

FY Mar 2025

FY Mar 2026

Change

Gross margin

64.2%

67.4%

70.7%

71.2%

70.7%

▼ 0.5 pts

Operating margin

7.6%

11.8%

14.6%

12.0%

4.5%

▼ 7.5 pts

Net margin

5.6%

10.6%

12.5%

8.5%

1.6%

▼ 6.9 pts

Return on assets (ROA)

4.4%

10.3%

11.3%

9.0%

1.1%

▼ 7.9 pts

Return on equity (ROE)

7.0%

15.0%

19.9%

14.7%

2.3%

▼ 12 pts

Free cash flow margin

3.7%

17.3%

6.1%

8.8%

11.6%

▲ 2.8 pts

Current ratio

2.97×

2.81×

1.59×

3.05×

2.35×

▼ 23%

Quick ratio

1.67×

2.06×

0.95×

2.00×

1.69×

▼ 15%

Debt to equity

0.31×

0.16×

0.41×

0.34×

0.74×

▲ 121%