ELF Beauty (ELF) financial statements
ELF Beauty reported revenue of $1.6B in fiscal 2026, up 24.4% a year over 9 years.
Net income was $26M and the operating margin 4.5%, against 10.1% in 2016.
Free cash flow was $190M, and the company returned $50M in net buybacks.
The diluted share count rose 371% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from ELF Beauty's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $230M | $270M | $267M | $283M | $318M | $392M | $579M | $1.0B | $1.3B | $1.6B |
| Cost of revenue | $97M | $105M | $105M | $102M | $112M | $140M | $188M | $300M | $378M | $479M |
| Gross profit | $132M | $165M | $163M | $181M | $206M | $252M | $390M | $724M | $936M | $1.2B |
| Selling, general and admin | $109M | $131M | $137M | $157M | $194M | $222M | $322M | $574M | $778M | $1.0B |
| Operating income | $23M | $33M | $26M | $30M | $9M | $30M | $68M | $150M | $158M | $74M |
| Interest expense | $16M | $9M | $8M | $6M | — | — | — | — | — | — |
| Pre-tax income | $10M | $22M | $18M | $24M | $4M | $25M | $64M | $141M | $145M | $40M |
| Income tax | $4M | -$11M | $2M | $6M | -$3M | $4M | $3M | $13M | $33M | $14M |
| Net income | $5M | $33M | $16M | $18M | $6M | $22M | $62M | $128M | $112M | $26M |
| EPS (diluted) | -$39.47 | $0.68 | $0.32 | $0.35 | $0.12 | $0.41 | $1.11 | $2.21 | $1.92 | $0.44 |
| Diluted shares | 13M | 49M | 49M | 51M | 52M | 54M | 55M | 58M | 58M | 59M |
| Gross margin | 57.6% | 61.0% | 60.9% | 64.0% | 64.8% | 64.2% | 67.4% | 70.7% | 71.2% | 70.7% |
| Operating margin | 10.1% | 12.3% | 9.8% | 10.6% | 3.0% | 7.6% | 11.8% | 14.6% | 12.0% | 4.5% |
| Net margin | 2.3% | 12.4% | 5.8% | 6.3% | 2.0% | 5.6% | 10.6% | 12.5% | 8.5% | 1.6% |
Balance sheet
Fiscal years, from ELF Beauty's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $15M | $10M | $51M | $46M | $58M | $43M | $121M | $108M | $149M | $290M |
| Receivables | $38M | $45M | $37M | $30M | $40M | $46M | $68M | $124M | $126M | $175M |
| Inventory | $69M | $63M | $46M | $46M | $57M | $84M | $81M | $191M | $187M | $220M |
| Total current assets | $125M | $124M | $142M | $132M | $170M | $193M | $303M | $477M | $541M | $789M |
| Property, plant and equipment | $17M | $18M | $22M | $17M | $14M | $11M | $8M | $14M | $29M | $41M |
| Goodwill | $157M | $157M | $157M | $171M | $172M | $172M | $172M | $341M | $341M | $853M |
| Total assets | $415M | $417M | $436M | $453M | $487M | $495M | $596M | $1.1B | $1.2B | $2.4B |
| Total current liabilities | $80M | $51M | $43M | $51M | $73M | $65M | $108M | $299M | $177M | $336M |
| Long-term debt | $156M | $148M | $141M | $126M | $110M | $91M | $61M | $162M | $257M | $809M |
| Total liabilities | $274M | $223M | $207M | $211M | $218M | $182M | $185M | $487M | $487M | $1.3B |
| Shareholders' equity | $141M | $194M | $229M | $242M | $270M | $312M | $411M | $643M | $761M | $1.1B |
| Net debt | $141M | $138M | $89M | $80M | $52M | $48M | -$60M | $54M | $108M | $520M |
Cash flow
Fiscal years, from ELF Beauty's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2M | $12M | $56M | $44M | $29M | $20M | $102M | $71M | $134M | $213M |
| Capital spending | $9M | $8M | $9M | $9M | $6M | $5M | $2M | $9M | $19M | $22M |
| Free cash flow | -$7M | $5M | $47M | $35M | $23M | $15M | $100M | $62M | $115M | $190M |
| Stock-based compensation | $7M | $13M | $17M | $15M | $20M | $20M | $29M | $41M | $72M | $87M |
| Share buybacks (net) | — | $0 | $0 | -$8M | $0 | $0 | $0 | $0 | -$67M | -$50M |
| Net borrowing | $21M | -$8M | -$8M | -$9M | -$12M | -$29M | -$30M | $107M | $83M | $585M |
| Free cash flow margin | -3.1% | 1.8% | 17.5% | 12.3% | 7.2% | 3.7% | 17.3% | 6.1% | 8.8% | 11.6% |
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Open ELF in InvestinglyQuestions
What was ELF Beauty's revenue in 2026?
$1.6B in fiscal 2026, from its 10-K filing.
How much free cash flow does ELF Beauty generate?
$190M in fiscal 2026 (operating cash flow minus capital spending).
From ELF Beauty's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.