e.l.f. Beauty, Inc. (ELF) Balance Sheet
ELF balance sheet, FY2026
March 31, 2026 · U.S. dollars$2.39B assets = $1.26B liabilities + $1.13B equity
Both columns are drawn to the same scale: what ELF owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ELF financial health
Descriptive bands, not a rating. Fiscal FY2026.
ELF balance sheet trends, FY2018–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $417.2MFY2018 | $2.39BFY2026 | +21.4%/yr | |
| Total liabilities | $223.4MFY2018 | $1.26BFY2026 | +21.2%/yr | |
| Shareholders’ equity | $193.9MFY2018 | $1.13BFY2026 | +21.6%/yr | |
| Cash & short-term investments | $10.1MFY2018 | $289.7MFY2026 | +45.3%/yr | |
| Total debt | $156.3MFY2018 | $916.9MFY2026 | +21.7%/yr | |
| Net cash (debt) | −$146.3MFY2018 | −$627.2MFY2026 | −$480.9M | |
| Working capital | $72.3MFY2018 | $453.2MFY2026 | +$380.9M | |
| Book value per share | $3.93FY2018 | $19.05FY2026 | +19.2%/yr | |
| Current ratio | 2.41FY2018 | 2.35FY2026 | −0.06 | |
| Debt / equity | 0.81FY2018 | 0.81FY2026 | 0.00 | |
| Shares outstanding | 49.4MFY2018 | 59.4MFY2026 | +2.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ELF assets
ELF liabilities and equity
ELF debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ELF balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2018 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $289.7M | $148.7M | $108.2M | $120.8M | $43.4M | $57.8M | $46.2M | $51.2M | $51.2M | $10.1M |
| Cash & equivalents | $289.7M | $148.7M | $108.2M | $120.8M | $43.4M | $57.8M | $46.2M | $51.2M | $51.2M | $10.1M |
| Short-term investments | — | — | — | — | — | $2.9M | — | — | — | — |
| Receivables | $174.6M | $126.0M | $123.8M | $67.9M | $45.6M | $40.2M | $29.7M | $36.7M | $36.7M | $44.6M |
| Inventory | $220.2M | $187.2M | $191.5M | $81.3M | $84.5M | $56.8M | $46.2M | $46.3M | $46.3M | $62.7M |
| Other current assets | $104.8M | $78.7M | $53.6M | $33.3M | $19.6M | $15.4M | $10.3M | $7.5M | $7.5M | $6.3M |
| Total current assets | $789.4M | $540.6M | $477.1M | $303.3M | $193.0M | $170.1M | $132.4M | $141.7M | $141.7M | $123.6M |
| Property, plant & equipment (net) | $41.5M | $28.8M | $14.0M | $7.9M | $10.6M | $13.8M | $17.2M | $21.8M | $0 | $18.0M |
| Goodwill & intangible assets | $1.41B | $548.3M | $565.7M | $249.7M | $257.8M | $265.9M | $273.7M | $256.0M | $256.0M | $263.1M |
| Long-term investments | $0 | $0 | $0 | $2.9M | $2.9M | $2.9M | $2.9M | $2.9M | $2.9M | $2.9M |
| Other non-current assets | $156.7M | $130.5M | $72.5M | $31.9M | $30.4M | $34.7M | $27.0M | $13.4M | $35.2M | $9.5M |
| Total assets | $2.39B | $1.25B | $1.13B | $595.6M | $494.6M | $487.4M | $453.1M | $435.9M | $435.9M | $417.2M |
| Liabilities | ||||||||||
| Accounts payable | $97.5M | $72.2M | $81.1M | $31.4M | $19.2M | $15.7M | $12.4M | $20.5M | $20.5M | $26.8M |
| Short-term debt | $37.6M | $7.6M | $107.3M | $10.1M | $10.2M | $20.6M | $15.7M | $9.9M | $9.9M | $8.6M |
| Deferred revenue | — | — | $5.8M | — | — | $36.4M | $25.1M | $10.8M | — | $14.0M |
| Total current liabilities | $336.2M | $177.1M | $299.1M | $108.0M | $65.0M | $73.3M | $51.1M | $43.0M | $43.0M | $51.4M |
| Long-term debt | $809.3M | $256.7M | $161.8M | $60.9M | $91.1M | $110.3M | $126.1M | $138.0M | $140.5M | $147.7M |
| Lease obligations | $77.6M | $56.3M | $28.5M | $11.2M | $20.1M | $20.1M | $14.3M | — | — | — |
| Other long-term liabilities | $118.1M | $53.6M | $25.7M | $15.7M | $26.1M | $34.2M | $33.7M | $25.5M | $23.0M | $24.3M |
| Total liabilities | $1.26B | $487.3M | $486.7M | $184.6M | $182.2M | $217.7M | $210.9M | $206.5M | $206.5M | $223.4M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $590,000 | $556,000 | $555,000 | $535,000 | $515,000 | $504,000 | $489,000 | $478,000 | $478,000 | $463,000 |
| Retained earnings (deficit) | −$155.9M | −$182.2M | −$294.3M | −$422.0M | −$483.5M | −$505.3M | −$511.5M | −$511.5M | −$511.5M | −$527.0M |
| Accumulated other comprehensive income | $882,000 | $521,000 | −$50,000 | — | — | — | −$12.6M | −$17.3M | −$17.3M | −$11.1M |
| Total shareholders' equity | $1.13B | $760.9M | $642.6M | $411.0M | $312.4M | $269.6M | $242.2M | $229.3M | $229.3M | $193.9M |
| Key figures | ||||||||||
| Total debt | $916.9M | $313.0M | $290.6M | $82.2M | $117.0M | $150.9M | $153.0M | $150.4M | $150.4M | $156.3M |
| Net cash (debt) | −$627.2M | −$164.3M | −$182.4M | $38.6M | −$73.6M | −$93.1M | −$106.8M | −$99.2M | −$99.2M | −$146.3M |
| Working capital | $453.2M | $363.5M | $178.0M | $195.3M | $128.0M | $96.8M | $81.2M | $98.7M | $98.7M | $72.3M |
| Tangible book value | −$276.1M | $212.6M | $76.9M | $161.4M | $54.6M | $3.7M | −$31.6M | −$26.7M | −$26.7M | −$69.3M |
| Book value per share | $19.05 | $13.04 | $11.12 | $7.43 | $5.82 | $5.19 | $4.77 | $4.65 | $4.71 | $3.93 |
| Shares outstanding | 59.4M | 58.3M | 57.8M | 55.3M | 53.7M | 52.0M | 50.8M | 49.3M | 48.7M | 49.4M |
| Current ratio | 2.35 | 3.05 | 1.59 | 2.81 | 2.97 | 2.32 | 2.59 | 3.30 | 3.30 | 2.41 |
| Quick ratio | 1.38 | 1.55 | 0.78 | 1.75 | 1.37 | 1.34 | 1.48 | 2.04 | 2.04 | 1.06 |
| Debt / equity | 0.81 | 0.41 | 0.45 | 0.20 | 0.37 | 0.56 | 0.63 | 0.66 | 0.66 | 0.81 |
| Equity / assets | 47.2% | 61.0% | 56.9% | 69.0% | 63.2% | 55.3% | 53.4% | 52.6% | 52.6% | 46.5% |
| 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 | $344.2M | $289.7M | $196.8M | $194.4M | $170.0M | $148.7M | $73.8M | $96.8M | $109.0M | $108.2M | $72.7M | $167.8M |
| Cash & equivalents | $344.2M | $289.7M | $196.8M | $194.4M | $170.0M | $148.7M | $73.8M | $96.8M | $109.0M | $108.2M | $72.7M | $167.8M |
| Receivables | $174.5M | $174.6M | $190.3M | $154.7M | $173.4M | $126.0M | $187.7M | $146.6M | $155.7M | $123.8M | $121.1M | $86.7M |
| Inventory | $246.8M | $220.2M | $220.6M | $247.4M | $170.4M | $187.2M | $214.8M | $238.8M | $199.6M | $191.5M | $204.5M | $147.2M |
| Other current assets | $94.3M | $104.8M | $93.8M | $110.8M | $88.8M | $78.7M | $82.7M | $71.9M | $66.2M | $53.6M | $56.6M | $33.8M |
| Total current assets | $859.8M | $789.4M | $701.6M | $707.2M | $602.5M | $540.6M | $559.1M | $554.0M | $530.5M | $477.1M | $454.9M | $435.4M |
| Property, plant & equipment (net) | $39.7M | $41.5M | $44.8M | $44.4M | $39.2M | $28.8M | $19.9M | $15.6M | $14.0M | $14.0M | $12.8M | $7.6M |
| Goodwill & intangible assets | $1.40B | $1.41B | $1.42B | $1.43B | $543.9M | $548.3M | $552.6M | $557.0M | $561.3M | $565.7M | $570.8M | $245.6M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.2M | $1.2M |
| Other non-current assets | $165.7M | $156.7M | $160.3M | $139.9M | $129.3M | $130.5M | $133.2M | $110.4M | $99.0M | $72.5M | $68.6M | $57.1M |
| Total assets | $2.46B | $2.39B | $2.32B | $2.32B | $1.31B | $1.25B | $1.26B | $1.24B | $1.20B | $1.13B | $1.11B | $746.9M |
| Liabilities | ||||||||||||
| Accounts payable | $95.9M | $97.5M | $74.0M | $109.3M | $74.6M | $72.2M | $65.3M | $93.6M | $80.0M | $81.1M | $72.9M | $63.7M |
| Short-term debt | $30.0M | $37.6M | $42.0M | $30.6M | $7.8M | $7.6M | $108.0M | $108.4M | $111.4M | $107.3M | $107.4M | $9.4M |
| Deferred revenue | — | — | — | — | — | — | — | — | $106.7M | $5.8M | $9.9M | −$5.2M |
| Total current liabilities | $337.7M | $336.2M | $254.3M | $261.9M | $184.7M | $177.1M | $293.9M | $310.9M | $299.8M | $299.1M | $302.9M | $152.4M |
| Long-term debt | $802.0M | $809.3M | $816.7M | $831.6M | $256.7M | $256.7M | $154.1M | $156.6M | $159.2M | $161.8M | $164.4M | $57.7M |
| Lease obligations | $97.3M | $77.6M | $79.4M | $63.8M | $58.1M | $56.3M | $55.9M | $44.4M | $42.1M | $28.5M | $28.7M | $14.6M |
| Other long-term liabilities | $152.1M | $118.1M | $90.9M | $86.4M | $68.6M | $53.6M | $49.5M | $41.8M | $42.2M | $25.7M | $26.7M | $20.4M |
| Total liabilities | $1.29B | $1.26B | $1.16B | $1.18B | $510.0M | $487.3M | $497.4M | $509.3M | $501.2M | $486.7M | $494.1M | $230.5M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $589,000 | $590,000 | $589,000 | $593,000 | $566,000 | $556,000 | $563,000 | $562,000 | $563,000 | $555,000 | $553,000 | $545,000 |
| Retained earnings (deficit) | −$89.3M | −$155.9M | −$106.6M | −$145.9M | −$148.9M | −$182.2M | −$210.5M | −$227.8M | −$246.8M | −$294.3M | −$308.9M | −$335.8M |
| Accumulated other comprehensive income | $925,000 | $882,000 | $1.0M | $971,000 | $1.2M | $521,000 | $183,000 | $439,000 | −$9,000 | −$50,000 | −$58,000 | — |
| Total shareholders' equity | $1.17B | $1.13B | $1.16B | $1.14B | $804.9M | $760.9M | $767.4M | $727.7M | $703.6M | $642.6M | $614.2M | $516.4M |
| Key figures | ||||||||||||
| Total debt | $921.7M | $916.9M | $926.1M | $917.8M | $314.8M | $313.0M | $310.2M | $301.3M | $304.3M | $290.6M | $293.5M | $81.7M |
| Net cash (debt) | −$577.4M | −$627.2M | −$729.3M | −$723.4M | −$144.8M | −$164.3M | −$236.4M | −$204.5M | −$195.2M | −$182.4M | −$220.8M | $86.1M |
| Working capital | $522.2M | $453.2M | $447.3M | $445.4M | $417.8M | $363.5M | $265.2M | $243.1M | $230.7M | $178.0M | $152.0M | $283.1M |
| Tangible book value | −$226.6M | −$276.1M | −$255.2M | −$288.2M | $260.9M | $212.6M | $214.8M | $170.7M | $142.2M | $76.9M | $43.4M | $270.8M |
| Book value per share | $19.57 | $18.86 | $19.30 | $19.11 | $13.95 | $13.04 | $13.15 | $12.44 | $12.02 | $10.99 | $10.58 | $8.99 |
| Shares outstanding | 59.7M | 59.9M | 60.2M | 59.6M | 57.7M | 58.3M | 58.4M | 58.5M | 58.6M | 58.5M | 58.0M | 57.4M |
| Current ratio | 2.55 | 2.35 | 2.76 | 2.70 | 3.26 | 3.05 | 1.90 | 1.78 | 1.77 | 1.59 | 1.50 | 2.86 |
| Quick ratio | 1.54 | 1.38 | 1.52 | 1.33 | 1.86 | 1.55 | 0.89 | 0.78 | 0.88 | 0.78 | 0.64 | 1.67 |
| Debt / equity | 0.79 | 0.81 | 0.80 | 0.81 | 0.39 | 0.41 | 0.40 | 0.41 | 0.43 | 0.45 | 0.48 | 0.16 |
| Equity / assets | 47.5% | 47.2% | 50.0% | 49.1% | 61.2% | 61.0% | 60.7% | 58.8% | 58.4% | 56.9% | 55.4% | 69.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed May 21, 2026); data from EODHD.
ELF financial position
At the end of fiscal 2026 (March 31, 2026), e.l.f. Beauty had total assets of $2.4 billion (up 91.8% from a year earlier), total liabilities of $1.3 billion and shareholders' equity of $1.1 billion. It held $289.7 million in cash and short-term investments against $916.9 million of debt, net debt of $627.2 million. Its current ratio was 2.35. In the latest quarter (ended June 30, 2026) total assets were $2.5 billion and equity $1.2 billion.
Related: ELF income statement, ELF cash flow statement, ELF key metrics. See the ELF stock overview for the latest quote and news.
ELF balance sheet FAQ
What are e.l.f. Beauty's total assets?
e.l.f. Beauty reported total assets of $2.4 billion at the end of fiscal 2026 (March 31, 2026), compared with $1.2 billion a year earlier.
How much debt does e.l.f. Beauty have?
e.l.f. Beauty had $916.9 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.81.
How much cash does e.l.f. Beauty have?
e.l.f. Beauty held $289.7 million in cash and short-term investments at the end of fiscal 2026; with $916.9 million of debt that is net debt of $627.2 million.
What is e.l.f. Beauty's book value?
e.l.f. Beauty's shareholders' equity (book value) was $1.1 billion at the end of fiscal 2026, or $19.05 per share.
What is e.l.f. Beauty's current ratio?
e.l.f. Beauty had current assets of $789.4 million and current liabilities of $336.2 million, a current ratio of 2.35 (it can cover its short-term obligations).
How much goodwill does e.l.f. Beauty have?
e.l.f. Beauty carried $1.4 billion of goodwill and intangible assets, 58.8% of total assets, at the end of fiscal 2026.