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E.l.f. Beauty, Inc. (ELF) stock

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NYSE: ELF NYSE Personal Care Products Next results ~November 4, 2026

C+ Fundamentals grade

E.l.f. Beauty, Inc. is a US-listed company in the personal care products industry. Its financial year ends in March.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$62

Cash-flow model

Base case. Range ~$45–$84 across our lower- and higher-growth cases (15%–25% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 44% below it.

Price used: $110.68, November 2, 2026

E.l.f. Beauty, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter E.l.f. Beauty files

Where E.l.f. Beauty stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.76bn, up 31.2% on a year earlier, faster than 24.6% a quarter earlier. That growth ranks 89 of 931 among all the companies we cover. Free-cash-flow margin rose to 15.9% from 10.1% a year earlier. Operating margin narrowed to 7.2% from 11.6%. The diluted share count is up 3.0% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 5 financial-health checks. Our cash-flow model value is $68.66 a share, against a share price of $115. At that price, our model says the market is pricing in about 28.9% a year of cash-flow growth for five years, slower than the 35.1% a year revenue growth it has delivered.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

E.l.f. Beauty, Inc.'s trailing-twelve-month revenue grew 31.2% year on year, with a free-cash-flow margin of 15.9%. Where it stands out: revenue growth of 31.2% ranks 1 of 21 personal care products companies we cover. Where it lags: stock pay as % of revenue of 5.5% ranks 18 of 18 personal care products companies we cover.

Our discounted-cash-flow model values the business at ~$62 per share in the base case (~$45–$84 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 107.6% while net income fell 39.1%: a 147pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 31.2% over the last 12 months, against a median of 3.5% for personal care products companies we cover.
  • Growth speeding up. The growth rate is 6.6 points higher than a quarter earlier.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 6.8% over 90 days.

Things to watch

  • Results due soon. Results are expected around 4 November; the share price can move sharply on the day.
  • Priced above our value. The share price of $110.68 is 44% above our value per share of $62.
  • Margins narrowing. Operating margin is down 4.4 points on a year ago.
  • Share dilution. Diluted shares rose 3.0% in a year.
  • High earnings multiple. The shares trade at 111 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 65% and a beta of 1.6 against the S&P 500.

Latest results: FY2027 Q1

Filed August 6, 2026
Earnings per share
$1.75 against an average estimate of $0.72: beat by 143.9%
Revenue
$479m, up 35.5% on a year earlier
Share reaction
+5.1% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Guidance given
net sales growth (year-over-year) growth 18% to 20% (fiscal 2027); net sales $1,938m to $1,968m (fiscal 2027)
Next report
November 4, 2026; average EPS estimate $0.59

E.l.f. Beauty's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.9%
  • 1 week-2.0%
  • 1 month+5.7%
  • This year+45.6%
  • 1 year-9.4%
  • 5 years+233.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.8B
Operating margin
7.2%
Net margin
3.4%
EPS (TTM, diluted)
$1.00

Growth

Revenue growth
+31.2%
Change in growth rate
+6.6 pts
Share count change
+3.0%

Cash

Free cash flow (TTM)
$280M
FCF margin
15.9%
Stock pay % of revenue
5.5%

Earnings

Last results
August 5, 2026
Next results (est.)
November 4, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Insider trade
  2. Insider trade
  3. Shareholder vote
  4. Results
  5. Guidance
  6. Insider trade

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

E.l.f. Beauty, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 28.1% a year of cash-flow growth for five years.That is slower than the 35.1% a year revenue growth E.l.f. Beauty has delivered.

  • Priced in28.1%
  • Last 12 months31.2%
  • 3 years a year37.9%
  • 5 years a year35.1%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($111.25, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$62
Price used
$111.25close November 3, 2026
Implied change
▼ 44%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of E.l.f. Beauty, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($101M, FY2027 Q1 TTM), growing 15.8% and 16% in the next two years (forecasts, guidance and its record), then back to 20% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$45–~$84 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of E.l.f. Beauty, Inc.'s free cash flow after stock-based pay ( $101M, FY2027 Q1 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value E.l.f. Beauty, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.2%: the 10-year Treasury yield (4.9%) plus a beta of 0.93 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$62 ~$45–$84 Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$24 ~$14–$32 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$64 ~$57–$89 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$37 ~$25–$56 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$35 ~$30–$42 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$47 ~$24–$64 5 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare E.l.f. Beauty, Inc. with Personal Care Products in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −25%
  • Revenue growth 5 points higher ▲ +32%
  • Free-cash-flow margin 1 point lower ▼ −7%
  • Last year's free-cash-flow margin change, if it persists ▲ +62%
  • Discount rate 1 point higher ▼ −17%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $17$25$37$53$73$99
8.5% $11$17$26$37$51$70
10% $7$12$19$27$38$52

Valuation multiples over time Market data may be delayed

At fiscal year end 2017201820192020202120222023202420252026Now
Share price$28.94$22.31$8.66$9.84$26.83$25.83$82.35$196.03$62.79$60.61$110.68
Market value$1.5bn$1.1bn$427m$500m$1.4bn$1.4bn$4.6bn$11.3bn$3.7bn$3.6bn$6.6bn
+ Net debt (− = net cash)$0$0$0$92m$69m$54m−$54m$154m$108m$552m$490m
Enterprise value$1.5bn$1.1bn$427m$593m$1.5bn$1.4bn$4.5bn$11.5bn$3.8bn$4.1bn$7.1bn
Multiples
Price / sales 6.4x4.1x1.6x1.8x4.4x3.5x7.9x11.1x2.8x2.2x3.8x
Price / earnings n/m32.9x27.5x28.0xn/m63.7x74.1x88.7x32.7x136.7x111.2x
Price / free cash flow —n/m9.1x14.3x60.6x94.3x45.5x181.3x31.8x18.9x23.7x
EV / EBITDA 40.3x23.0x9.7x11.2x42.3x25.3x52.5x63.8x18.7x27.1x32.4x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

47 /100

Moderate moat

How hard E.l.f. Beauty's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 7 / 20

    Cash operating profit has been a median 6.3% of total assets over 10 years.

  • Pricing power 17 / 20

    Gross margin has been a median 65.2%, moving by 4.6 percentage points (standard deviation) across 10 years.

  • Durability 6 / 20

    Operating margin has been a median 9.8%; its worst year was 2.7%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 9 of 10 years, at a median 11.2% of revenue.

  • Discipline 8 / 20

    The diluted share count rose 13.8% over five years; stock-based pay has been a median 5.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (52 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, after the close. Analysts expect revenue of $472m and EPS of $0.59 (range $0.44 to $0.69) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.64 +16% $2.0bn +21%
Next $3.92 +8% $2.2bn +9%

Next year's EPS estimate has moved +6.8% in 90 days, across 18 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +9.6% on 90 days ago. In the last 30 days, 4 analysts raised E.l.f. Beauty, Inc.'s forecast and 0 cut it.

Consensus EPS forecast E.l.f. Beauty, Inc., last 90 days
$3.20 $3.40 $3.60 $3.80 $4.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.32 Current fiscal year, 60 days ago: $3.61 Current fiscal year, 30 days ago: $3.62 Current fiscal year, 7 days ago: $3.63 Current fiscal year, Now: $3.64 $3.64 Next fiscal year, 90 days ago: $3.67 Next fiscal year, 60 days ago: $3.83 Next fiscal year, 30 days ago: $3.85 Next fiscal year, 7 days ago: $3.90 Next fiscal year, Now: $3.92 $3.92

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.32$3.67
60 days ago $3.61$3.83
30 days ago $3.62$3.85
7 days ago $3.63$3.90
Now $3.64$3.92

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.72 $1.75 +143.9%
Mar 2026 $0.29 $0.32 +12.2%
Dec 2025 $0.72 $1.24 +71.4%
Sept 2025 $0.57 $0.68 +19.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026
  • Net sales growth (year-over-year) fiscal 2027 18% growth to 20% growth Raised
    “The updated outlook for fiscal 2027 reflects an expected 18-20% year-over-year increase in net sales, as compared to an expected 12-14% increase previously.” source
  • Net sales fiscal 2027 $1,938m to $1,968m Raised
    “Net sales $1,835-1,865 million $1,938-1,968 million” source
  • Adjusted diluted earnings per share fiscal 2027 $3.50 to $3.55 Non-GAAP Raised
    “Adjusted diluted earnings per share $3.27-3.32 $3.50-3.55” source
  • Adjusted EBITDA fiscal 2027 $401m to $407m Non-GAAP Raised
    “Adjusted EBITDA $379-385 million $401-407 million” source
  • Adjusted effective tax rate fiscal 2027 25% to 26% Non-GAAP
    “Adjusted effective tax rate 25-26% 25-26%” source
  • Adjusted net income fiscal 2027 $212m to $215m Non-GAAP Raised
    “Adjusted net income $198-201 million $212-215 million” source
Show 1 more item
  • Weighted average diluted shares outstanding fiscal 2027 about 60.5m
    “Weighted average diluted shares outstanding 60.5 million 60.5 million” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows E.l.f. Beauty, Inc.'s revenue by +15.8% next year and +16.0% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+14.8%, weight 56%) , management guidance (+13.4%, weight 19%) and the company's own record (+20.0%, weight 25%) . How the weights are set.

Analyst recommendations

18 analysts, Oct 2026
Buy1267%
Hold633%
Sell00%

Monthly trend

  1. Oct 202611618
  2. Sep 202611618
  3. Aug 202611618
  4. Jul 202610718

Counts of recommendations published by analysts covering E.l.f. Beauty, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
8.8%
of tradable shares
Days to cover
3.45
at average volume
Short interest, 1 month
+4%
to October 15, 2026
Held by institutions
98%
of shares
Held by insiders
2.9%
of shares
Employees
849
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −9.4%

$122.14 on October 31, 2025 to $110.68

ThenNowEffect
Revenue (last 12 months) $1.3bn $1.8bn +31.2%
Net margin 7.3% 3.4% −53.6%
P/E multiple 72.6x 111.2x +53.2%
Share count 58m 60m −2.9%

Biggest factor: net margin.

Last 3 years +15.1%

$96.15 on November 3, 2023 to $110.68

ThenNowEffect
Revenue (last 12 months) $673m $1.8bn +162.0%
Net margin 12.5% 3.4% −72.8%
P/E multiple 64.5x 111.2x +72.5%
Share count 56m 60m −6.2%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ELF+32%+67%+161%−13%−39%+46%
Industry peers (median)+31%−33%+3%−8%−34%−1%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ELF58%58%83%42%33%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ELF−20%−37%−33%−53%−63%−48%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since September 22, 2016: 77% from June 27, 2024 to June 5, 2026. Getting back needed a 340% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$49.57 – $120.94
From 52-week high
−8.5%
vs 50-day average
+4.7%
vs 200-day average
+36.0%
Volatility (1 year)
65%
Beta vs S&P 500
1.61

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±11.4%
After a week
7 up, 5 down
typical move ±12.3%
After a month
8 up, 4 down
typical move ±23.5%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 +5.1% −0.4% +5.4% +22.3%
May 20, 2026 +0.3% +1.2% +8.3% +19.3%
February 4, 2026 −9.4% −1.7% −9.4% −2.8%
November 5, 2025 −35.3% −0.7% −34.3% −31.2%
August 6, 2025 −9.0% +0.7% +11.9% +22.0%
February 6, 2025 −18.5% −0.6% −14.2% −15.2%
November 6, 2024 +8.3% +3.3% +14.8% +30.3%
August 8, 2024 −11.5% +2.8% −14.4% −37.3%
May 22, 2024 +16.2% −1.0% +14.7% +28.4%
February 6, 2024 −2.9% +1.1% −1.1% +23.7%
November 1, 2023 +5.8% +3.0% +5.9% +32.2%
August 1, 2023 +14.1% −1.7% +12.7% +17.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How E.l.f. Beauty, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.66× the last 60 days’ realised volatility .
  • Calls are priced 2 points richer than puts (25-delta): demand for upside is high, which favours selling calls over puts.
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

ELF E.l.f. Beauty, Inc. Grade C+ $110.92

Own 100 shares, sell the $123 call expiring November 27, 2026 (25 days) for $3.80 a share — $380 per contract.

Previous session · Bid $3.80, ask $5.10, quoted Mon 2 Nov, 17:22 New York time with ELF at $110.92. Option prices move with the shares: check the live chain at your broker before trading.

  • If ELF ends below $123: you keep your shares and the $380 — 3.4% extra on the position, 50.0% a year at that pace.
  • If it ends above $123: your shares are sold at $123, a total return of 14.3% including the premium — at or above our value of ~$62.
$1.6k $0 −$2.1k Break-even $107.12 Price $110.92 ← Our value ~$62
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$380
Annualised
50.0%
Break-even
$107.12
Max gain
$1,588.5
Chance of selling
~34%

Results are expected around November 4, 2026, before this option expires: the share price can jump on results, and the premium partly reflects that.

Collar

Own the shares, buy the $100 put and sell the $135 call, both expiring December 18, 2026 (46 days).

  • Net cost of $2.79 a share ($279 per contract of 100 shares).
  • Worst case at expiry: -12.4%, if the shares fall below $100 (-9.8% from today).
  • Best case at expiry: +19.2%, if the shares rise above $135 (+21.7%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $62.00: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

E.l.f. Beauty, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) E.l.f. Beauty, Inc.
$500M $1B $1.5B $2B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $765.7M Revenue (TTM), FY24 Q3: $890.1M Revenue (TTM), FY24 Q4: $1B Revenue (TTM), FY25 Q1: $1.1B Revenue (TTM), FY25 Q2: $1.2B Revenue (TTM), FY25 Q3: $1.3B Revenue (TTM), FY25 Q4: $1.3B Revenue (TTM), FY26 Q1: $1.3B Revenue (TTM), FY26 Q2: $1.4B Revenue (TTM), FY26 Q3: $1.5B Revenue (TTM), FY26 Q4: $1.6B Revenue (TTM), FY27 Q1: $1.8B $1.8B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $765.7M
FY24 Q3 $890.1M
FY24 Q4 $1B
FY25 Q1 $1.1B
FY25 Q2 $1.2B
FY25 Q3 $1.3B
FY25 Q4 $1.3B
FY26 Q1 $1.3B
FY26 Q2 $1.4B
FY26 Q3 $1.5B
FY26 Q4 $1.6B
FY27 Q1 $1.8B
Revenue growth, TTM YoY E.l.f. Beauty, Inc.
0% 20% 40% 60% 80% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 70.8% Revenue growth, TTM YoY, FY24 Q3: 79.2% Revenue growth, TTM YoY, FY24 Q4: 76.9% Revenue growth, TTM YoY, FY25 Q1: 68.3% Revenue growth, TTM YoY, FY25 Q2: 59.0% Revenue growth, TTM YoY, FY25 Q3: 46.3% Revenue growth, TTM YoY, FY25 Q4: 28.3% Revenue growth, TTM YoY, FY26 Q1: 18.6% Revenue growth, TTM YoY, FY26 Q2: 13.8% Revenue growth, TTM YoY, FY26 Q3: 16.7% Revenue growth, TTM YoY, FY26 Q4: 24.6% Revenue growth, TTM YoY, FY27 Q1: 31.2% 31.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 70.8%
FY24 Q3 79.2%
FY24 Q4 76.9%
FY25 Q1 68.3%
FY25 Q2 59.0%
FY25 Q3 46.3%
FY25 Q4 28.3%
FY26 Q1 18.6%
FY26 Q2 13.8%
FY26 Q3 16.7%
FY26 Q4 24.6%
FY27 Q1 31.2%
Operating margin (TTM) E.l.f. Beauty, Inc.
0% 5% 10% 15% 20% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: 17.3% Operating margin (TTM), FY24 Q3: 15.8% Operating margin (TTM), FY24 Q4: 14.6% Operating margin (TTM), FY25 Q1: 12.3% Operating margin (TTM), FY25 Q2: 10.5% Operating margin (TTM), FY25 Q3: 10.0% Operating margin (TTM), FY25 Q4: 12.0% Operating margin (TTM), FY26 Q1: 11.6% Operating margin (TTM), FY26 Q2: 9.8% Operating margin (TTM), FY26 Q3: 11.1% Operating margin (TTM), FY26 Q4: 4.5% Operating margin (TTM), FY27 Q1: 7.2% 7.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 17.3%
FY24 Q3 15.8%
FY24 Q4 14.6%
FY25 Q1 12.3%
FY25 Q2 10.5%
FY25 Q3 10.0%
FY25 Q4 12.0%
FY26 Q1 11.6%
FY26 Q2 9.8%
FY26 Q3 11.1%
FY26 Q4 4.5%
FY27 Q1 7.2%
FCF margin (TTM) E.l.f. Beauty, Inc.
0% 5% 10% 15% 20% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 14.1% FCF margin (TTM), FY24 Q3: 6.8% FCF margin (TTM), FY24 Q4: 6.1% FCF margin (TTM), FY25 Q1: 3.6% FCF margin (TTM), FY25 Q2: 1.9% FCF margin (TTM), FY25 Q3: 1.9% FCF margin (TTM), FY25 Q4: 8.8% FCF margin (TTM), FY26 Q1: 10.1% FCF margin (TTM), FY26 Q2: 10.2% FCF margin (TTM), FY26 Q3: 14.1% FCF margin (TTM), FY26 Q4: 11.6% FCF margin (TTM), FY27 Q1: 15.9% 15.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 14.1%
FY24 Q3 6.8%
FY24 Q4 6.1%
FY25 Q1 3.6%
FY25 Q2 1.9%
FY25 Q3 1.9%
FY25 Q4 8.8%
FY26 Q1 10.1%
FY26 Q2 10.2%
FY26 Q3 14.1%
FY26 Q4 11.6%
FY27 Q1 15.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar E.l.f. Beauty took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $1.6B
  2. Cost of revenue $479M · 29.3%
  3. Gross profit $1.2B · 70.7%
  4. Selling, general and admin $1B · 62.7%
  5. Other operating costs $57.6M · 3.5%
  6. Operating income $73.6M · 4.5%
  7. Income tax $14.1M · 0.9%
  8. Interest and other $33.2M · 2.0%
  9. Net income $26.3M · 1.6%

Shares of revenue. Source: E.l.f. Beauty's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2015 Dec 2014 2016 Dec 2015 2017 Dec 2016 2018 Dec 2017 2019 Dec 2018 2020 Mar 2020 2021 Mar 2021 2022 Mar 2022 2023 Mar 2023 2024 Mar 2024 2025 Mar 2025 2026 Mar 2026 LTM Jun 2026
Income
Revenue 135 191 230 270 267 283 318 392 579 1,024 1,314 1,636 1,762
Gross profit 61 100 132 165 163 181 206 252 390 724 936 1,157 1,312
EBITDA 6 36 36 48 44 53 35 57 86 180 202 153 220
Operating income 5 26 23 33 26 30 9 30 68 150 158 74 127
Net income −9 4 5 33 16 18 6 22 62 128 112 26 60
Diluted EPS −$177.34 −$389.95 −$9.87 $0.68 $0.32 $0.35 $0.12 $0.41 $1.11 $2.21 $1.92 $0.44 $1.00
Growth (year on year)
Revenue — +41.6% +19.9% +17.6% −0.9% +5.8% +12.5% +23.3% +47.6% +76.9% +28.3% +24.6% +31.2%
EBITDA — +524.0% +1.0% +31.9% −7.9% +19.9% −34.5% +64.4% +50.8% +109.8% +12.4% −24.3% +7.5%
Operating income — +378.2% −9.7% +44.2% −21.4% +14.5% −68.6% +216.7% +128.9% +119.7% +5.6% −53.4% −18.4%
Net income — — +21.9% +530.1% −53.6% +15.2% −65.2% — +182.6% +107.5% −12.2% −76.5% −39.1%
Diluted EPS — — — — −52.9% +9.4% −65.7% — +170.7% +99.1% −13.1% −77.1% −40.9%
Margins
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% 74.4%
EBITDA margin 4.3% 18.7% 15.8% 17.7% 16.5% 18.7% 10.9% 14.5% 14.8% 17.6% 15.4% 9.3% 12.5%
Operating 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% 7.2%
Net margin −6.9% 2.3% 2.3% 12.4% 5.8% 6.3% 2.0% 5.6% 10.6% 12.5% 8.5% 1.6% 3.4%
Free-cash-flow margin −7.4% 7.5% −3.1% 1.8% 17.5% 12.3% 7.2% 3.7% 17.3% 6.1% 8.8% 11.6% 15.9%
Cash flow
Cash from operations −8 25 2 12 56 44 29 20 102 71 134 213 297
Capital spending 2 10 9 8 9 9 6 5 2 9 19 22 17
Free cash flow −10 14 −7 5 47 35 23 15 100 62 115 190 280
Stock-based pay 0 1 7 13 17 15 20 20 29 41 72 87 97
Free cash flow after stock pay −10 14 −14 −9 30 19 3 −5 71 22 44 103 183
Balance sheet
Cash — — — — — 46 58 43 121 108 149 290 344
Total debt 0 148 165 157 151 139 127 97 66 262 257 842 834
Net debt (negative = net cash) — — — — — 92 69 54 −54 154 108 552 490
Diluted shares — 122m 50m 49m 49m 51m 52m 54m 55m 58m 58m 59m 60m
Returned to shareholders
Buybacks — — — 0 0 8 0 0 0 0 67 50 100
Total returned — — — 0 0 8 0 0 0 0 67 50 100

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 6 checks passed · June 30, 2026
What it owns · $2.5bn
Short-term assets $860mLonger-term assets $1.6bn
What it owes, and who funded it · $2.5bn
Short-term liabilities $338mLonger-term liabilities $954mShareholders' equity $1.2bn
  • Short-term assets cover short-term liabilities $860m of assets due within a year against $338m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $860m short-term assets against $954m of longer-dated liabilities.
  • More cash than debt $344m of cash against $834m of debt.
  • Debt below 40% of shareholders' equity Debt is 71% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 30% to 71% over five years.
  • A year's operating cash flow covers at least 20% of debt $297m of operating cash flow against $834m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From E.l.f. Beauty, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q1 TTM
Buybacks (TTM)
$100M
Returned to shareholders
36%
of free cash flow
Buybacks, last 3 fiscal years
$117M
Diluted share count
+3.0%
year over year
Total shareholder yield
1.5%
dividends 0.0% + buybacks 1.5% of market value
Sales & admin spending
63.0%
of revenue
Days sales outstanding
36 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in personal care products
Last 12 months unless stated ELF IPAR EPC NUS BRBR USNA Median
Revenue, last 12 months $1.8bn $1.5bn $2.2bn $1.4bn $2.4bn $913m $913m
Revenue growth, last 12 months 31.2% 2.9% 11.6% −15.4% 5.9% 1.6% 3.5%
Revenue growth, 3-year average 37.9% 7.4% −0.2% −12.3% 14.4% −1.2% −0.1%
Revenue growth, latest quarter 35.5% 2.1% 1.7% −17.1% 4.2% −5.3% 2.7%
Gross margin 74.4% 63.8% 39.5% 69.2% 28.6% 77.4% 69.2%
Operating margin 7.2% 17.3% 0.8% −0.8% 13.3% −0.1% 6.7%
Operating margin, 3-year average 10.4% 17.9% 5.7% −2.8% 16.1% 5.3% 5.5%
Net margin 3.4% 11.2% −4.2% −15.7% 7.3% −2.4% 3.4%
Cash from operations / revenue 16.9% 17.1% 5.4% 3.7% 9.9% 3.0% 9.9%
Free-cash-flow margin 15.9% 16.4% 2.3% 0.8% 9.6% 1.7% 9.6%
Free-cash-flow margin, 3-year average 9.8% 11.7% −10.2% 3.4% 9.3% 4.7% 6.0%
Stock pay / revenue 5.5% 0.1% 0.9% 1.0% 1.0% 1.6% 1.0%
Change in share count 3.0% −0.0% −3.6% 0.1% −7.9% −2.9% −0.0%

Median of all 21 companies we cover in personal care products. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

21 personal care products companies
Measure Company Peer median Rank
Revenue growth Growth 31.2% 3.5% 1 of 21
Change in growth rate Growth +6.6pp +0.7pp 4 of 21
Gross margin Profitability 74.4% 69.2% 6 of 21
Operating margin Profitability 7.2% 6.7% 10 of 21
Net margin Profitability 3.4% 3.4% 11 of 21
Free-cash-flow margin Cash generation 15.9% 9.6% 5 of 21
Stock pay as % of revenue Cash generation 5.5% 1.0% 18 of 18
Long-term debt as % of assets Balance sheet 33.9% 29.7% 9 of 13
Change in share count Balance sheet 3.0% -0.0% 18 of 19
Days sales outstanding Balance sheet 36 days 33 days 9 of 14

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to March 31, 2026
Geography
Region Revenue Share YoY
United States $1.3B 79.0% ▲ 21.5%
Outside the US $344M 21.0% ▲ 37.9%

From E.l.f. Beauty, Inc.'s 10-K filed May 21, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$3.8B
Institutions reporting
428
Shares held vs prior quarter
▼ 9.7%
Positions opened / closed
67 / 86

Top buyers and sellers, Q2 2026: 207 institutions bought and 243 sold ; the biggest buyer was Holocene Advisors, LP (+1.4M shares) and the biggest seller Price T Rowe Associates Inc (−2.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Baillie Gifford & Co $522M 7.0M 13.7% ▼ 1.9%
Blackrock, Inc. $428M 5.8M 11.2% ▲ 4.3%
Vanguard Portfolio Management LLC $204M 2.8M 5.3% ▲ 6.3%
Vanguard Capital Management LLC $191M 2.6M 5.0% ▲ 1.9%
Goldman Sachs Group Inc $142M 1.9M 3.7% ▲ 175.0%
State Street Corp $139M 1.9M 3.6% ▲ 4.2%
Jpmorgan Chase & Co $137M 2.0M 3.6% ▼ 12.3%
Ensign Peak Advisors, Inc $118M 1.6M 3.1% ▼ 16.3%
Holocene Advisors, LP $100M 1.4M 2.6% New
Dimensional Fund Advisors LP $82.7M 1.1M 2.2% ▲ 110.2%
Geode Capital Management, LLC $80.5M 1.1M 2.1% ▲ 0.3%
Primecap Management Co $78.2M 1.1M 2.0% ▲ 50.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not E.l.f. Beauty, Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $464,800 1 trade by 1 insider, last 12 months Insider sales History → $35.3M 47 trades by 7 insiders · 56% under pre-set plans
Net ▼ $34.9M net selling
Insider Date Trade Shares Price Value
Franks Joshua Allen SVP, Operations October 15, 2026 Sell pre-set plan 7,926 $110.15 $873,072
Franks Joshua Allen SVP, Operations October 12, 2026 Sell pre-set plan 8,366 $110.01 $920,310
Amin Tarang Chief Executive Officer October 1, 2026 Sell pre-set plan 2,026 $105.01 $212,746
Amin Tarang Chief Executive Officer October 1, 2026 Sell pre-set plan 21,902 $103.66 $2.3M
Amin Tarang Chief Executive Officer October 1, 2026 Sell pre-set plan 23,072 $102.84 $2.4M
Franks Joshua Allen SVP, Operations September 8, 2026 Sell pre-set plan 200 $110.00 $22,000
Fields Mandy J See Remarks September 8, 2026 Sell pre-set plan 4,650 $104.73 $486,994
Fields Mandy J See Remarks September 8, 2026 Sell pre-set plan 2,850 $105.65 $301,102
Fields Mandy J See Remarks September 8, 2026 Sell pre-set plan 600 $106.61 $63,966
Fields Mandy J See Remarks September 8, 2026 Sell pre-set plan 7,965 $103.83 $827,006
Franks Joshua Allen SVP, Operations September 1, 2026 Sell pre-set plan 5,512 $110.00 $606,320
Franks Joshua Allen SVP, Operations August 19, 2026 Sell pre-set plan 5,718 $100.00 $571,800

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 3 trades and filings

In the last 12 months, 1 member of Congress disclosed 0 purchases and 1 sale of E.l.f. Beauty, Inc. shares.

  • Michael Guest(R-MS 3):Sale (full), $1,001 - $15,000, traded December 16, 2025, filed August 14, 2026
  • Robert P. Bresnahan, Jr.(R-PA 8):Sale (full), $1,001 - $15,000, traded January 13, 2025, filed February 13, 2025
  • Michael Guest(R-MS 3):Purchase, $1,001 - $15,000, traded August 7, 2023, filed August 23, 2023

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 4, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 20, 2026
  • February 4, 2026
  • November 5, 2025
  • August 6, 2025
  • February 6, 2025

Recent SEC filings

Data status

When each part of this page on E.l.f. Beauty, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

E.l.f. Beauty, Inc. in brief

What does E.l.f. Beauty, Inc. do?
E.l.f. Beauty, Inc. is a US-listed company in the personal care products industry. Its financial year ends in March.
What is E.l.f. Beauty, Inc.'s stock ticker?
E.l.f. Beauty, Inc. trades under the ticker ELF on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is E.l.f. Beauty, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, E.l.f. Beauty, Inc. reported revenue of $1.8B, 31.2% higher than a year earlier, according to its SEC filings.
What is E.l.f. Beauty, Inc.'s free cash flow?
E.l.f. Beauty, Inc.'s free-cash-flow margin is 15.9% of revenue over the trailing twelve months, ranking 5 of the 21 personal care products companies we cover.
What is E.l.f. Beauty, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of E.l.f. Beauty, Inc.'s free cash flow after stock-based pay gives ~$62 per share in the base case, and ~$45–$84 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are E.l.f. Beauty, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Baillie Gifford & Co, Blackrock, Inc. and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is E.l.f. Beauty, Inc. buying back stock, and does it pay a dividend?
E.l.f. Beauty, Inc. spent $100M on share repurchases over the trailing twelve months, and its diluted share count still rose 3.0% over the year.
What is E.l.f. Beauty, Inc.'s market cap?
On November 2, 2026, E.l.f. Beauty, Inc.'s market capitalisation was about $6.6B, with a price-to-earnings ratio of 111.2 and net debt of $490M. Market figures come from third-party market data and may be delayed.
How much debt does E.l.f. Beauty, Inc. have?
E.l.f. Beauty, Inc.'s debt-to-equity ratio is 71.4%, from its latest balance sheet (30.3% five years earlier). The financial health section below sets out its other solvency checks.
Who are E.l.f. Beauty, Inc.'s competitors?
In our Personal Care Products peer group, the companies closest to E.l.f. Beauty, Inc. are Interparfums Inc, Edgewell Personal Care Co, NU Skin Enterprises, Inc., Bellring Brands, Inc. and Usana Health Sciences Inc. The side-by-side comparison below sets their revenue, margins and growth against E.l.f. Beauty, Inc.'s.
Are insiders buying or selling E.l.f. Beauty, Inc. stock?
Over the last 12 months, E.l.f. Beauty, Inc.'s directors and officers reported 1 open-market purchases and 47 sales on Form 4. The insider trading page charts every trade.
When is E.l.f. Beauty, Inc.'s next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — E.l.f. Beauty, Inc. announces its own schedule.