The Estée Lauder Companies Inc. (EL) Balance Sheet
EL balance sheet, FY2026
June 30, 2026 · U.S. dollars$19.76B assets = $15.96B liabilities + $3.81B equity
Both columns are drawn to the same scale: what EL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
EL financial health
Current ratio1.22
Adequate · current assets cover current liabilities 1.22×
Debt / equity2.43
High leverage · $2.43 of debt for each $1 of equity
Equity / assets19.3%
Thin equity · of assets funded by shareholders
Cash / debt37.8%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles28.8%
Acquisition-heavy · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
EL balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $11.57BFY2017 | $19.76BFY2026 | +6.1%/yr | |
| Total liabilities | $7.17BFY2017 | $15.96BFY2026 | +9.3%/yr | |
| Shareholders’ equity | $4.38BFY2017 | $3.81BFY2026 | −1.6%/yr | |
| Cash & short-term investments | $1.74BFY2017 | $3.50BFY2026 | +8.1%/yr | |
| Total debt | $3.57BFY2017 | $9.25BFY2026 | +11.1%/yr | |
| Net cash (debt) | −$1.83BFY2017 | −$5.75BFY2026 | −$3.9B | |
| Working capital | $2.14BFY2017 | $1.38BFY2026 | −$760.0M | |
| Book value per share | $11.75FY2017 | $10.43FY2026 | −1.3%/yr | |
| Current ratio | 1.76FY2017 | 1.22FY2026 | −0.54 | |
| Debt / equity | 0.81FY2017 | 2.43FY2026 | +1.61 | |
| Shares outstanding | 373.0MFY2017 | 364.8MFY2026 | −0.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
EL assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
EL liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
EL debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
EL balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $3.50B | $2.92B | $3.40B | $4.03B | $3.96B | $4.96B | $5.02B | $2.99B | $2.71B | $1.74B |
| Cash & equivalents | $3.50B | $2.92B | $3.40B | $4.03B | $3.96B | $4.96B | $5.02B | $2.99B | $2.18B | $1.14B |
| Short-term investments | — | — | — | — | $24.0M | $15.0M | $15.0M | $3.0M | $534.0M | $605.0M |
| Receivables | $1.52B | $1.53B | $1.73B | $1.45B | $1.63B | $1.70B | $1.19B | $1.83B | $1.49B | $1.40B |
| Inventory | $2.00B | $2.07B | $2.17B | $2.98B | $2.92B | $2.50B | $2.06B | $2.01B | $1.62B | $1.48B |
| Other current assets | $597.0M | $544.0M | $625.0M | $679.0M | $792.0M | $603.0M | $614.0M | $388.0M | $348.0M | $349.0M |
| Total current assets | $7.61B | $7.07B | $7.92B | $9.14B | $9.30B | $9.77B | $8.89B | $7.21B | $6.17B | $4.96B |
| Property, plant & equipment (net) | $4.94B | $5.12B | $4.97B | $4.98B | $4.60B | $4.47B | $4.34B | $2.07B | $1.82B | $1.67B |
| Goodwill & intangible assets | $5.69B | $5.89B | $7.33B | $8.09B | $5.95B | $6.71B | $3.74B | $3.07B | $3.20B | $3.24B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $177.0M | $843.0M | $1.03B |
| Other non-current assets | $1.52B | $1.80B | $1.46B | $1.21B | $1.06B | $1.02B | $813.0M | $628.0M | $531.0M | $664.0M |
| Total assets | $19.76B | $19.89B | $21.68B | $23.41B | $20.91B | $21.97B | $17.78B | $13.16B | $12.57B | $11.57B |
| Liabilities | ||||||||||
| Accounts payable | $1.58B | $1.50B | $1.44B | $1.67B | $1.82B | $1.69B | $1.18B | $1.49B | $1.18B | $835.0M |
| Short-term debt | $902.0M | $409.0M | $858.0M | $1.35B | $633.0M | $411.0M | $1.60B | $516.0M | $183.0M | $189.0M |
| Deferred revenue | $282.0M | $314.0M | $327.0M | $323.0M | $312.0M | $322.0M | $222.0M | $314.0M | $33.0M | $190.0M |
| Total current liabilities | $6.23B | $5.43B | $5.70B | $6.24B | $5.82B | $5.30B | $5.18B | $4.61B | $3.31B | $2.82B |
| Long-term debt | $6.80B | $7.31B | $7.27B | $7.12B | $5.14B | $5.54B | $4.91B | $2.90B | $3.36B | $3.38B |
| Lease obligations | $1.94B | $2.15B | $2.06B | $2.06B | $2.23B | $2.53B | $2.65B | — | — | — |
| Other long-term liabilities | $2.92B | $3.28B | $3.39B | $3.64B | $3.52B | $4.19B | $3.73B | $1.24B | $1.19B | $960.0M |
| Total liabilities | $15.96B | $16.03B | $16.36B | $17.00B | $14.48B | $15.02B | $13.82B | $8.74B | $7.86B | $7.17B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $6.0M | $6.0M | $6.0M | $6.0M | $6.0M | $6.0M | $6.0M | $6.0M | $3.98B | $3.56B |
| Retained earnings (deficit) | $11.34B | $11.67B | $13.43B | $13.99B | $13.91B | $12.24B | $10.13B | $9.98B | $9.04B | $8.45B |
| Treasury stock | — | — | — | −$13.63B | −$13.36B | −$11.06B | −$10.33B | −$9.44B | −$7.90B | −$7.15B |
| Accumulated other comprehensive income | −$1.15B | −$1.13B | −$1.14B | −$934.0M | −$762.0M | −$470.0M | −$665.0M | −$563.0M | −$434.0M | −$484.0M |
| Minority interest | — | — | $0 | $832.0M | — | $34.0M | $27.0M | $25.0M | $22.0M | $18.0M |
| Total shareholders' equity | $3.81B | $3.87B | $5.31B | $5.58B | $5.59B | $6.06B | $3.94B | $4.39B | $4.69B | $4.38B |
| Key figures | ||||||||||
| Total debt | $9.25B | $9.47B | $9.83B | $10.17B | $7.64B | $8.10B | $8.79B | $3.41B | $3.54B | $3.57B |
| Net cash (debt) | −$5.75B | −$6.55B | −$6.43B | −$6.14B | −$3.69B | −$3.14B | −$3.77B | −$425.0M | −$829.0M | −$1.83B |
| Working capital | $1.38B | $1.63B | $2.22B | $2.90B | $3.48B | $4.47B | $3.71B | $2.61B | $2.86B | $2.14B |
| Tangible book value | −$1.88B | −$2.03B | −$2.01B | −$2.50B | −$359.0M | −$654.0M | $196.0M | $1.31B | $1.49B | $1.14B |
| Book value per share | $10.43 | $10.73 | $14.73 | $15.48 | $15.32 | $16.45 | $10.72 | $11.84 | $12.48 | $11.75 |
| Shares outstanding | 364.8M | 360.1M | 360.8M | 360.9M | 364.9M | 368.2M | 366.9M | 370.4M | 375.7M | 373.0M |
| Current ratio | 1.22 | 1.30 | 1.39 | 1.46 | 1.60 | 1.84 | 1.72 | 1.57 | 1.86 | 1.76 |
| Quick ratio | 0.81 | 0.82 | 0.90 | 0.88 | 0.96 | 1.26 | 1.20 | 1.05 | 1.27 | 1.11 |
| Debt / equity | 2.43 | 2.45 | 1.85 | 1.82 | 1.37 | 1.34 | 2.23 | 0.78 | 0.76 | 0.81 |
| Equity / assets | 19.3% | 19.4% | 24.5% | 23.9% | 26.7% | 27.6% | 22.1% | 33.3% | 37.3% | 37.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $3.50B | $3.13B | $3.08B | $2.22B | $2.92B | $2.63B | $2.59B | $2.35B | $3.40B | $3.70B | $3.94B | $3.09B |
| Cash & equivalents | $3.50B | $3.13B | $3.08B | $2.22B | $2.92B | $2.63B | $2.59B | $2.35B | $3.40B | $3.70B | $3.94B | $3.09B |
| Receivables | $1.52B | $1.75B | $1.66B | $1.88B | $1.53B | $1.79B | $1.61B | $1.98B | $1.73B | $1.85B | $1.75B | $1.91B |
| Inventory | $2.00B | $1.92B | $1.90B | $2.06B | $2.07B | $1.96B | $2.00B | $2.25B | $2.17B | $2.31B | $2.60B | $2.86B |
| Other current assets | $597.0M | $707.0M | $524.0M | $549.0M | $544.0M | $635.0M | $697.0M | $633.0M | $625.0M | $672.0M | $621.0M | $723.0M |
| Total current assets | $7.61B | $7.50B | $7.16B | $6.71B | $7.07B | $7.02B | $6.90B | $7.21B | $7.92B | $8.53B | $8.91B | $8.59B |
| Property, plant & equipment (net) | $4.94B | $4.63B | $5.24B | $5.37B | $5.12B | $4.93B | $4.94B | $5.21B | $4.97B | $4.97B | $5.04B | $4.89B |
| Goodwill & intangible assets | $5.69B | $5.75B | $5.83B | $5.83B | $5.89B | $6.21B | $6.23B | $7.37B | $7.33B | $7.89B | $8.05B | $7.97B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.52B | $1.79B | $1.40B | $1.42B | $1.80B | $1.73B | $1.69B | $1.53B | $1.46B | $1.31B | $1.28B | $1.21B |
| Total assets | $19.76B | $19.66B | $19.63B | $19.33B | $19.89B | $19.89B | $19.76B | $21.32B | $21.68B | $22.70B | $23.28B | $22.65B |
| Liabilities | ||||||||||||
| Accounts payable | $1.58B | $1.32B | $1.26B | $1.29B | $1.50B | $1.21B | $1.13B | $1.14B | $1.44B | $1.20B | $1.25B | $1.26B |
| Short-term debt | $902.0M | $903.0M | $416.0M | $418.0M | $409.0M | $402.0M | $401.0M | $897.0M | $858.0M | $868.0M | $1.87B | $1.36B |
| Deferred revenue | $282.0M | $294.0M | $327.0M | $332.0M | $314.0M | $276.0M | $338.0M | $338.0M | $327.0M | $306.0M | $370.0M | $336.0M |
| Total current liabilities | $6.23B | $5.91B | $5.27B | $5.08B | $5.43B | $4.96B | $5.03B | $5.49B | $5.70B | $5.42B | $6.57B | $5.91B |
| Long-term debt | $6.80B | $6.81B | $7.32B | $7.32B | $7.31B | $7.30B | $7.28B | $7.31B | $7.27B | $7.26B | $6.64B | $7.09B |
| Lease obligations | $1.94B | $1.99B | $2.07B | $2.10B | $2.15B | $2.08B | $2.10B | $2.19B | $2.06B | $2.07B | $2.06B | $2.04B |
| Other long-term liabilities | $2.92B | $2.95B | $3.01B | $3.04B | $3.28B | $3.28B | $3.28B | $3.44B | $3.39B | $3.44B | $3.51B | $3.48B |
| Total liabilities | $15.96B | $15.67B | $15.60B | $15.44B | $16.03B | $15.54B | $15.59B | $16.23B | $16.36B | $16.12B | $16.72B | $16.48B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $6.0M | $6.0M | $6.0M | $6.0M | $6.0M | $6.0M | $6.0M | $6.0M | $6.0M | $6.0M | $6.0M | $6.0M |
| Retained earnings (deficit) | $11.34B | $11.59B | $11.62B | $11.59B | $11.67B | $12.34B | $12.31B | $13.03B | $13.43B | $13.95B | $13.86B | $13.78B |
| Accumulated other comprehensive income | −$1.15B | −$1.16B | −$1.08B | −$1.14B | −$1.13B | −$1.27B | −$1.34B | −$1.06B | −$1.14B | −$1.01B | −$856.0M | −$1.06B |
| Total shareholders' equity | $3.81B | $3.99B | $4.03B | $3.89B | $3.87B | $4.34B | $4.17B | $5.08B | $5.31B | $5.74B | $5.71B | $5.34B |
| Key figures | ||||||||||||
| Total debt | $9.25B | $9.30B | $9.39B | $9.42B | $9.47B | $9.38B | $9.38B | $10.01B | $9.83B | $9.84B | $10.20B | $10.13B |
| Net cash (debt) | −$5.75B | −$6.17B | −$6.31B | −$7.20B | −$6.55B | −$6.75B | −$6.80B | −$7.66B | −$6.43B | −$6.14B | −$6.26B | −$7.04B |
| Working capital | $1.38B | $1.58B | $1.89B | $1.63B | $1.63B | $2.05B | $1.86B | $1.73B | $2.22B | $3.12B | $2.34B | $2.67B |
| Tangible book value | −$1.88B | −$1.76B | −$1.80B | −$1.94B | −$2.03B | −$1.86B | −$2.06B | −$2.29B | −$2.01B | −$2.15B | −$2.34B | −$2.63B |
| Book value per share | $10.48 | $10.93 | $11.05 | $10.71 | $10.72 | $12.02 | $11.58 | $14.14 | $14.79 | $15.92 | $15.87 | $14.82 |
| Shares outstanding | 363.1M | 365.4M | 364.8M | 363.3M | 360.7M | 361.4M | 360.0M | 359.6M | 359.4M | 360.8M | 360.0M | 360.5M |
| Current ratio | 1.22 | 1.27 | 1.36 | 1.32 | 1.30 | 1.41 | 1.37 | 1.32 | 1.39 | 1.58 | 1.36 | 1.45 |
| Quick ratio | 0.81 | 0.82 | 0.90 | 0.81 | 0.82 | 0.89 | 0.83 | 0.79 | 0.90 | 1.03 | 0.87 | 0.85 |
| Debt / equity | 2.43 | 2.33 | 2.33 | 2.42 | 2.45 | 2.16 | 2.25 | 1.97 | 1.85 | 1.71 | 1.79 | 1.90 |
| Equity / assets | 19.3% | 20.3% | 20.5% | 20.1% | 19.4% | 21.8% | 21.1% | 23.8% | 24.5% | 25.3% | 24.5% | 23.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed August 19, 2026); data from EODHD.
EL financial position
At the end of fiscal 2026 (June 30, 2026), Estée Lauder had total assets of $19.8 billion (down 0.7% from a year earlier), total liabilities of $16.0 billion and shareholders' equity of $3.8 billion. It held $3.5 billion in cash and short-term investments against $9.2 billion of debt, net debt of $5.7 billion. Its current ratio was 1.22.
Related: EL income statement, EL cash flow statement, EL key metrics. See the EL stock overview for the latest quote and news.
EL balance sheet FAQ
What are Estée Lauder's total assets?
Estée Lauder reported total assets of $19.8 billion at the end of fiscal 2026 (June 30, 2026), compared with $19.9 billion a year earlier.
How much debt does Estée Lauder have?
Estée Lauder had $9.2 billion of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 2.43.
How much cash does Estée Lauder have?
Estée Lauder held $3.5 billion in cash and short-term investments at the end of fiscal 2026; with $9.2 billion of debt that is net debt of $5.7 billion.
What is Estée Lauder's book value?
Estée Lauder's shareholders' equity (book value) was $3.8 billion at the end of fiscal 2026, or $10.43 per share.
What is Estée Lauder's current ratio?
Estée Lauder had current assets of $7.6 billion and current liabilities of $6.2 billion, a current ratio of 1.22 (it can cover its short-term obligations).
How much goodwill does Estée Lauder have?
Estée Lauder carried $5.7 billion of goodwill and intangible assets, 28.8% of total assets, at the end of fiscal 2026.