ELF Beauty (ELF)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $6.2B, ELF Beauty's free cash flow of $190M (fiscal 2026) would need to grow about 11% a year for the stock to be worth today's price. That is slower than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from ELF Beauty's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from ELF's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from ELF Beauty's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Revenue | $392M | $579M | $1.0B | $1.3B | $1.6B |
| Net income | $22M | $62M | $128M | $112M | $26M |
| Free cash flow | $15M | $100M | $62M | $115M | $190M |
| EPS (diluted) | $0.41 | $1.11 | $2.21 | $1.92 | $0.44 |
| Operating margin | 7.6% | 11.8% | 14.6% | 12.0% | 4.5% |
Where the revenue comes from
Revenue by regions, fiscal 2026.
Superinvestors who own ELF
From each investor's latest 13F filing (what a 13F shows). 5 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| PRIMECAP Management PRIMECAP Management Co |
Added | $78M | 0.05% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Added | $17M | 0.04% | Q2 2026 |
| Hersh Cohen ClearBridge Investments |
Trimmed | $15M | 0.01% | Q2 2026 |
| Eric Marshall Hodges Capital Management |
New position | $5M | 0.35% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Trimmed | $2M | 0.00% | Q2 2026 |
Insider buying
Open-market purchases by ELF Beauty's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
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In the full deep dive
Questions
What growth does ELF Beauty's stock price imply?
At a market value of $6.2B, ELF Beauty would need its free cash flow to grow about 11% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 50% a year.
Are ELF Beauty insiders buying the stock?
No open-market insider purchases of ELF in the last 12 months, according to SEC Form 4 filings.
Which superinvestors own ELF Beauty?
5 of the superinvestors Investingly tracks hold ELF in their latest 13F, including PRIMECAP Management, Joel Greenblatt, Hersh Cohen.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.