What is elf Beauty's earnings per share (EPS)?

elf Beauty (ELF) reported diluted earnings per share of $1.92 for fiscal year 2025. This represents a -13.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

elf Beauty Financials

ELF

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE March

This page shows elf Beauty (ELF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 62/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

elf Beauty has an operating margin of 12.0%, meaning the company retains $12 of operating profit per $100 of revenue. This results in a moderate score of 49/100, indicating healthy but not exceptional operating efficiency. This is down from 14.6% the prior year.

Growth

elf Beauty's revenue surged 28.3% year-over-year to $1.3B, reflecting rapid business expansion. This strong growth earns a score of 80/100.

Leverage

elf Beauty carries a low D/E ratio of 0.34, meaning only $0.34 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

elf Beauty's current ratio of 3.05 indicates adequate short-term liquidity, earning a score of 59/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

elf Beauty has a free cash flow margin of 8.8%, earning a moderate score of 47/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

elf Beauty's ROE of 14.7% shows moderate profitability relative to equity, earning a score of 44/100. This is down from 19.9% the prior year.

Altman Z-Score Safe

6.06

elf Beauty scores 6.06, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($3.6B) relative to total liabilities ($487.3M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral

6/9

elf Beauty passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.19x

For every $1 of reported earnings, elf Beauty generates $1.19 in operating cash flow ($133.8M OCF vs $112.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.3B

YoY+28.3%

5Y CAGR+35.9%

10Y CAGR+25.5%

elf Beauty generated $1.3B in revenue in fiscal year 2025. This represents an increase of 28.3% from the prior year.

EBITDA

$202.1M

YoY+12.4%

5Y CAGR+30.8%

10Y CAGR+42.8%

elf Beauty's EBITDA was $202.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 12.4% from the prior year.

Net Income

$112.1M

YoY-12.2%

5Y CAGR+44.4%

elf Beauty reported $112.1M in net income in fiscal year 2025. This represents a decrease of 12.2% from the prior year.

EPS (Diluted)

$1.92

YoY-13.1%

5Y CAGR+40.6%

elf Beauty earned $1.92 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 13.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$115.3M

YoY+84.5%

5Y CAGR+27.0%

elf Beauty generated $115.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 84.5% from the prior year.

Cash & Debt

$148.7M

YoY+37.4%

5Y CAGR+26.4%

10Y CAGR+41.4%

elf Beauty held $148.7M in cash against $256.7M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

56M

YoY+1.3%

5Y CAGR+2.4%

elf Beauty had 56M shares outstanding in fiscal year 2025. This represents an increase of 1.3% from the prior year.

Margins & Returns

Gross Margin

71.2%

YoY+0.5pp

5Y CAGR+7.2pp

10Y CAGR+25.8pp

elf Beauty's gross margin was 71.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.5 percentage points from the prior year.

Operating Margin

12.0%

YoY-2.6pp

5Y CAGR+1.4pp

10Y CAGR+8.1pp

elf Beauty's operating margin was 12.0% in fiscal year 2025, reflecting core business profitability. This is down 2.6 percentage points from the prior year.

Net Margin

8.5%

YoY-3.9pp

5Y CAGR+2.2pp

10Y CAGR+15.4pp

elf Beauty's net profit margin was 8.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 3.9 percentage points from the prior year.

Return on Equity

14.7%

YoY-5.1pp

5Y CAGR+7.3pp

elf Beauty's ROE was 14.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 5.1 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$67.1M

5Y CAGR+53.4%

elf Beauty spent $67.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$18.5M

YoY+113.9%

5Y CAGR+14.5%

10Y CAGR+27.8%

elf Beauty invested $18.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 113.9% from the prior year.

ELF Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.3B+28.3%	$1.0B+76.9%	$578.8M+47.6%	$392.2M+23.3%	$318.1M+12.5%	$282.9M
Cost of Revenue	$377.8M+26.0%	$299.8M+59.1%	$188.4M+34.2%	$140.4M+25.5%	$111.9M+10.0%	$101.7M
Gross Profit	$935.7M+29.2%	$724.1M+85.5%	$390.4M+55.1%	$251.7M+22.1%	$206.2M+13.8%	$181.1M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$777.7M+35.4%	$574.4M+78.3%	$322.3M+45.2%	$221.9M+14.3%	$194.2M+23.5%	$157.2M
Operating Income	$158.0M+5.6%	$149.7M+119.7%	$68.1M+128.9%	$29.8M+216.7%	$9.4M-68.6%	$29.9M
Interest Expense	N/A	-$7.0M-248.0%	-$2.0M+17.3%	-$2.4M+40.3%	-$4.1M-164.8%	$6.3M
Income Tax	$33.4M+150.7%	$13.3M+423.9%	$2.5M-30.5%	$3.7M+244.0%	-$2.5M-141.1%	$6.2M
Net Income	$112.1M-12.2%	$127.7M+107.5%	$61.5M+182.6%	$21.8M+249.3%	$6.2M-65.2%	$17.9M
EPS (Diluted)	$1.92-13.1%	$2.21+99.1%	$1.11+170.7%	$0.41+241.7%	$0.12-65.7%	$0.35

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Revenue	$489.5M+42.3%	$343.9M-2.8%	$353.7M+6.3%	$332.6M-6.4%	$355.3M+18.0%	$301.1M-7.2%	$324.5M+1.0%	$321.1M
Cost of Revenue	$142.0M+35.1%	$105.1M-3.8%	$109.2M	N/A	$102.0M+17.2%	$87.0M-6.6%	$93.2M	N/A
Gross Profit	$347.5M+45.5%	$238.9M-2.3%	$244.5M+3.2%	$237.0M-6.4%	$253.3M+18.3%	$214.1M-7.4%	$231.3M+1.8%	$227.2M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$280.0M+21.1%	$231.1M+18.0%	$195.8M	N/A	$218.2M+17.2%	$186.1M+3.1%	$180.6M	N/A
Operating Income	$67.5M+775.3%	$7.7M-84.2%	$48.7M	N/A	$35.1M+25.7%	$27.9M-44.9%	$50.7M	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$14.5M+307.4%	-$7.0M-139.2%	$17.8M	N/A	$9.0M+1.0%	$8.9M+2847.1%	-$325K	N/A
Net Income	$39.4M+1214.3%	$3.0M-91.0%	$33.3M+17.9%	$28.3M+63.7%	$17.3M-9.2%	$19.0M-60.0%	$47.6M+227.4%	$14.5M
EPS (Diluted)	$0.65+1200.0%	$0.05-91.4%	$0.58+18.4%	$0.49+63.3%	$0.30-9.1%	$0.33-59.3%	$0.81+224.0%	$0.25

ELF Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.2B+10.5%	$1.1B+89.6%	$595.6M+20.4%	$494.6M+1.5%	$487.4M+7.6%	$453.1M
Current Assets	$540.6M+13.3%	$477.1M+57.3%	$303.3M+57.1%	$193.0M+13.5%	$170.1M+28.5%	$132.4M
Cash & Equivalents	$148.7M+37.4%	$108.2M-10.4%	$120.8M+178.6%	$43.4M-25.0%	$57.8M+25.1%	$46.2M
Inventory	$187.2M-2.3%	$191.5M+135.5%	$81.3M-3.8%	$84.5M+48.7%	$56.8M+22.9%	$46.2M
Accounts Receivable	$126.0M+1.8%	$123.8M+82.2%	$67.9M+49.1%	$45.6M+13.4%	$40.2M+35.2%	$29.7M
Goodwill	$340.6M0.0%	$340.6M+98.5%	$171.6M0.0%	$171.6M0.0%	$171.6M+0.2%	$171.3M
Total Liabilities	$487.3M+0.1%	$486.7M+163.7%	$184.6M+1.3%	$182.2M-16.3%	$217.7M+3.2%	$210.9M
Current Liabilities	$177.1M-40.8%	$299.1M+177.0%	$108.0M+66.1%	$65.0M-11.3%	$73.3M+43.4%	$51.1M
Long-Term Debt	$256.7M+58.6%	$161.8M+165.8%	$60.9M-33.2%	$91.1M-17.4%	$110.3M-12.6%	$126.1M
Total Equity	$760.9M+18.4%	$642.6M+56.3%	$411.0M+31.6%	$312.4M+15.9%	$269.6M+11.3%	$242.2M
Retained Earnings	-$182.2M+38.1%	-$294.3M+30.3%	-$422.0M+12.7%	-$483.5M+4.3%	-$505.3M+1.2%	-$511.5M

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$2.3B+0.2%	$2.3B+76.3%	$1.3B+5.3%	$1.2B-1.3%	$1.3B+2.2%	$1.2B+2.7%	$1.2B+6.7%	$1.1B
Current Assets	$701.6M-0.8%	$707.2M+17.4%	$602.5M+11.5%	$540.6M-3.3%	$559.1M+0.9%	$554.0M+4.4%	$530.5M+11.2%	$477.1M
Cash & Equivalents	$196.8M+1.2%	$194.4M+14.3%	$170.0M+14.3%	$148.7M+101.4%	$73.8M-23.7%	$96.8M-11.2%	$109.0M+0.8%	$108.2M
Inventory	$220.6M-10.8%	$247.4M+45.2%	$170.4M-9.0%	$187.2M-12.9%	$214.8M-10.1%	$238.8M+19.7%	$199.6M+4.2%	$191.5M
Accounts Receivable	$190.3M+23.0%	$154.7M-10.8%	$173.4M+37.6%	$126.0M-32.9%	$187.7M+28.1%	$146.6M-5.9%	$155.7M+25.8%	$123.8M
Goodwill	$852.8M+0.1%	$851.8M+150.1%	$340.6M0.0%	$340.6M0.0%	$340.6M0.0%	$340.6M0.0%	$340.6M0.0%	$340.6M
Total Liabilities	$1.2B-1.5%	$1.2B+131.3%	$510.0M+4.7%	$487.3M-2.0%	$497.4M-2.3%	$509.3M+1.6%	$501.2M+3.0%	$486.7M
Current Liabilities	$254.3M-2.9%	$261.9M+41.8%	$184.7M+4.3%	$177.1M-39.8%	$293.9M-5.5%	$310.9M+3.7%	$299.8M+0.2%	$299.1M
Long-Term Debt	$849.2M-0.9%	$856.7M+233.8%	$256.7M0.0%	$256.7M+66.6%	$154.1M-1.7%	$156.6M-1.6%	$159.2M-1.6%	$161.8M
Total Equity	$1.2B+2.0%	$1.1B+41.5%	$804.9M+5.8%	$760.9M-0.9%	$767.4M+5.5%	$727.7M+3.4%	$703.6M+9.5%	$642.6M
Retained Earnings	-$106.6M+27.0%	-$145.9M+2.0%	-$148.9M+18.3%	-$182.2M+13.4%	-$210.5M+7.6%	-$227.8M+7.7%	-$246.8M+16.2%	-$294.3M

ELF Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$133.8M+88.1%	$71.2M-30.2%	$101.9M+422.1%	$19.5M-33.8%	$29.5M-33.5%	$44.3M
Capital Expenditures	$18.5M+113.9%	$8.7M+402.6%	$1.7M-64.2%	$4.8M-25.6%	$6.5M-31.3%	$9.4M
Free Cash Flow	$115.3M+84.5%	$62.5M-37.6%	$100.2M+581.6%	$14.7M-36.1%	$23.0M-34.1%	$34.9M
Investing Cash Flow	-$19.1M+93.3%	-$284.7M-16421.2%	-$1.7M+64.2%	-$4.8M+25.6%	-$6.5M+81.7%	-$35.3M
Financing Cash Flow	-$74.4M-137.0%	$200.9M+983.9%	-$22.7M+21.9%	-$29.1M-155.4%	-$11.4M+31.6%	-$16.7M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$67.1M	$0	$0	$0	$0-100.0%	$7.9M

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Operating Cash Flow	$59.4M+153.7%	$23.4M-14.0%	$27.2M-80.0%	$136.1M+1025.3%	-$14.7M-231.7%	$11.2M+771.8%	$1.3M-96.5%	$37.0M
Capital Expenditures	$6.6M-3.3%	$6.8M-3.5%	$7.1M-35.8%	$11.1M+118.9%	$5.1M+211.3%	$1.6M+106.5%	$786K-70.6%	$2.7M
Free Cash Flow	$52.8M+218.6%	$16.6M-17.7%	$20.1M-83.9%	$125.0M+732.8%	-$19.8M-307.0%	$9.5M+1828.3%	$495K-98.6%	$34.3M
Investing Cash Flow	-$7.9M+98.6%	-$587.5M-7671.6%	-$7.6M+33.4%	-$11.4M-116.9%	-$5.2M-222.7%	-$1.6M-84.6%	-$879K+76.3%	-$3.7M
Financing Cash Flow	-$54.0M-109.1%	$594.8M+491436.4%	$121K+100.2%	-$50.2M-2079.5%	-$2.3M+89.7%	-$22.4M-5586.3%	$408K+484.9%	-$106K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$50.0M	N/A	N/A	$50.0M	$0	N/A	N/A	$0

ELF Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	71.2%+0.5pp	70.7%+3.3pp	67.4%+3.2pp	64.2%-0.6pp	64.8%+0.8pp	64.0%
Operating Margin	12.0%-2.6pp	14.6%+2.8pp	11.8%+4.2pp	7.6%+4.6pp	2.9%-7.6pp	10.6%
Net Margin	8.5%-3.9pp	12.5%+1.8pp	10.6%+5.1pp	5.5%+3.6pp	2.0%-4.4pp	6.3%
Return on Equity	14.7%-5.1pp	19.9%+4.9pp	15.0%+8.0pp	7.0%+4.7pp	2.3%-5.1pp	7.4%
Return on Assets	9.0%-2.3pp	11.3%+1.0pp	10.3%+5.9pp	4.4%+3.1pp	1.3%-2.7pp	4.0%
Current Ratio	3.05+1.5	1.59-1.2	2.81-0.2	2.97+0.6	2.32-0.3	2.59
Debt-to-Equity	0.34+0.1	0.25+0.1	0.15-0.1	0.29-0.1	0.41-0.1	0.52
FCF Margin	8.8%+2.7pp	6.1%-11.2pp	17.3%+13.5pp	3.8%-3.5pp	7.2%-5.1pp	12.3%

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Gross Margin	71.0%+1.5pp	69.5%+0.3pp	69.1%-2.1pp	71.3%-0.0pp	71.3%+0.2pp	71.1%-0.2pp	71.3%+0.5pp	70.8%
Operating Margin	13.8%+11.6pp	2.2%-11.5pp	13.8%	N/A	9.9%+0.6pp	9.3%-6.4pp	15.6%	N/A
Net Margin	8.0%+7.2pp	0.9%-8.6pp	9.4%+0.9pp	8.5%+3.6pp	4.9%-1.5pp	6.3%-8.3pp	14.7%+10.1pp	4.5%
Return on Equity	3.4%+3.1pp	0.3%-3.9pp	4.1%+0.4pp	3.7%+1.5pp	2.3%-0.4pp	2.6%-4.1pp	6.8%+4.5pp	2.3%
Return on Assets	1.7%+1.6pp	0.1%-2.4pp	2.5%+0.3pp	2.3%+0.9pp	1.4%-0.2pp	1.5%-2.4pp	4.0%+2.7pp	1.3%
Current Ratio	2.76+0.1	2.70-0.6	3.26+0.2	3.05+1.2	1.90+0.1	1.78+0.0	1.77+0.2	1.59
Debt-to-Equity	0.73-0.0	0.75+0.4	0.32-0.0	0.34+0.1	0.20-0.0	0.22-0.0	0.23-0.0	0.25
FCF Margin	10.8%+6.0pp	4.8%-0.9pp	5.7%-31.9pp	37.6%+43.1pp	-5.6%-8.7pp	3.2%+3.0pp	0.1%-10.5pp	10.7%

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Frequently Asked Questions

What is elf Beauty's annual revenue?

elf Beauty (ELF) reported $1.3B in total revenue for fiscal year 2025. This represents a 28.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is elf Beauty's revenue growing?

elf Beauty (ELF) revenue grew by 28.3% year-over-year, from $1.0B to $1.3B in fiscal year 2025.

Is elf Beauty profitable?

Yes, elf Beauty (ELF) reported a net income of $112.1M in fiscal year 2025, with a net profit margin of 8.5%.

What is elf Beauty's EBITDA?

elf Beauty (ELF) had EBITDA of $202.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does elf Beauty have?

As of fiscal year 2025, elf Beauty (ELF) had $148.7M in cash and equivalents against $256.7M in long-term debt.

What is elf Beauty's gross margin?

elf Beauty (ELF) had a gross margin of 71.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is elf Beauty's operating margin?

elf Beauty (ELF) had an operating margin of 12.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is elf Beauty's net profit margin?

elf Beauty (ELF) had a net profit margin of 8.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is elf Beauty's return on equity (ROE)?

elf Beauty (ELF) has a return on equity of 14.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is elf Beauty's free cash flow?

elf Beauty (ELF) generated $115.3M in free cash flow during fiscal year 2025. This represents a 84.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is elf Beauty's operating cash flow?

elf Beauty (ELF) generated $133.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are elf Beauty's total assets?

elf Beauty (ELF) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are elf Beauty's capital expenditures?

elf Beauty (ELF) invested $18.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does elf Beauty buy back shares?

Yes, elf Beauty (ELF) spent $67.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does elf Beauty have outstanding?

elf Beauty (ELF) had 56M shares outstanding as of fiscal year 2025.

What is elf Beauty's current ratio?

elf Beauty (ELF) had a current ratio of 3.05 as of fiscal year 2025, which is generally considered healthy.

What is elf Beauty's debt-to-equity ratio?

elf Beauty (ELF) had a debt-to-equity ratio of 0.34 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is elf Beauty's return on assets (ROA)?

elf Beauty (ELF) had a return on assets of 9.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is elf Beauty's Altman Z-Score?

elf Beauty (ELF) has an Altman Z-Score of 6.06, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is elf Beauty's Piotroski F-Score?

elf Beauty (ELF) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are elf Beauty's earnings high quality?

elf Beauty (ELF) has an earnings quality ratio of 1.19x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is elf Beauty?

elf Beauty (ELF) scores 62 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.