Stock Analysis on Net
Stock Analysis on Net

Estée Lauder Cos. Inc. (NYSE:EL)

This company has been moved to the archive! The financial data has not been updated since August 18, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 

Estée Lauder Cos. Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018
Current debt 4.26 1.28 0.15 6.87 3.92 1.46
Accounts payable 7.13 8.71 7.70 6.62 11.33 9.41
Current operating lease liabilities 1.52 1.75 1.73 2.11 0.00 0.00
Employee compensation 2.33 3.31 3.05 2.38 4.36 4.61
Accrued sales incentives 1.37 1.33 0.00 0.00 0.00 0.00
Deferred revenue 1.38 1.49 1.47 1.25 2.39 0.26
Other 8.65 9.93 10.03 9.89 13.01 10.61
Other accrued liabilities 13.73% 16.07% 14.54% 13.53% 19.76% 15.48%
Current liabilities 26.65% 27.81% 24.11% 29.13% 35.00% 26.34%
Long-term debt, excluding current maturities 30.40 24.60 25.20 27.64 22.01 26.74
Long-term operating lease liabilities 7.25 8.93 9.79 12.81 0.00 0.00
Other noncurrent liabilities 8.30 7.90 9.27 8.14 9.46 9.44
Noncurrent liabilities 45.94% 41.43% 44.26% 48.59% 31.47% 36.18%
Total liabilities 72.59% 69.24% 68.38% 77.72% 66.47% 62.52%
Redeemable noncontrolling interest 3.55 4.03 3.90 0.00 0.00 0.00
Common stock, $.01 par value 0.03 0.03 0.03 0.03 0.05 0.05
Paid-in capital 26.28 27.72 24.28 26.94 33.47 31.61
Retained earnings 59.75 66.53 55.73 56.99 75.89 71.93
Accumulated other comprehensive loss -3.99 -3.64 -2.14 -3.74 -4.28 -3.45
Treasury stock, at cost -58.21 -63.90 -50.33 -58.10 -71.78 -62.83
Stockholders’ equity, The Estée Lauder Companies Inc. 23.85% 26.73% 27.57% 22.13% 33.34% 37.30%
Noncontrolling interests 0.00 0.00 0.15 0.15 0.19 0.18
Total equity 23.85% 26.73% 27.72% 22.28% 33.53% 37.48%
Total liabilities, redeemable noncontrolling interest and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).

Current Debt
The share of current debt within total liabilities, redeemable noncontrolling interest, and equity fluctuated over the analyzed period, increasing from 1.46% in 2018 to a peak of 6.87% in 2020, followed by a decline to 0.15% in 2021. In the most recent years, it rose again to 4.26% by 2023, indicating variability in short-term borrowing or obligations.
Accounts Payable
Accounts payable as a percentage of total sources showed a moderate decline overall, starting at 9.41% in 2018 and peaking at 11.33% in 2019, before dropping to a low of 6.62% in 2020. Post-2020, the ratio stabilized around 7-9%, ending at 7.13% in 2023, suggesting some improvement in payable management or supplier terms.
Operating Lease Liabilities
Current operating lease liabilities appeared starting in 2020 at 2.11% and showed a gradual decrease over subsequent years to 1.52% by 2023. Similarly, long-term operating lease liabilities, introduced in 2020, decreased from 12.81% to 7.25% in 2023. This declining trend reflects ongoing reductions or expirations of lease obligations.
Employee Compensation and Accrued Sales Incentives
Employee compensation liabilities decreased overall from 4.61% in 2018 to 2.33% in 2023, with some fluctuations in the intervening years. Accrued sales incentives were only reported from 2021 onward, representing a consistent but small proportion (around 1.3%). This suggests relatively stable personnel-related obligations and incentive accruals in recent years.
Deferred Revenue
Deferred revenue showed an increase from 0.26% in 2018 to around 2.39% in 2019, then declined slightly and steadied near 1.3-1.5% through 2023, indicating a transient rise in unearned revenue but overall stability thereafter.
Other Accrued Liabilities and Other
Other accrued liabilities consistently composed a significant portion of current liabilities, peaking at 19.76% in 2019 and fluctuating around 13-16% in later years. The category labeled "Other" decreased from 13.01% in 2019 to 8.65% in 2023, indicating a reduction in miscellaneous liabilities or adjustments in classification.
Current Liabilities
Current liabilities as a whole reached a high in 2019 at 35%, then declined to approximately 26.65% by 2023. This decline after 2019 may reflect improved short-term liability management or changes in working capital structure.
Long-Term Debt
Long-term debt excluding current maturities decreased from 26.74% in 2018 to about 22% in 2019, then rose continuously to 30.4% by 2023. This upward trend indicates an increasing reliance on long-term borrowing in recent years.
Other Noncurrent Liabilities
Other noncurrent liabilities remained relatively stable, fluctuating modestly between 7.9% and 9.5%, showing limited variation in these liability components.
Noncurrent Liabilities and Total Liabilities
Noncurrent liabilities exhibited significant variability: an increase from 31.47% in 2019 to a peak of 48.59% in 2020 followed by a decline and a new rise to 45.94% by 2023. Correspondingly, total liabilities peaked at 77.72% in 2020 and stabilized near 70-73% afterward. This reflects a strong increase in longer-term obligations during the pandemic year, with some retention of higher levels subsequently.
Redeemable Noncontrolling Interest
Redeemable noncontrolling interest appeared only from 2020, maintaining a proportion near 3.5-4.0%, suggesting a steady minority interest component during recent years.
Stockholders' Equity Components
Equity components demonstrate notable trends: paid-in capital declined from 33.47% in 2019 to 26.28% in 2023, and retained earnings showed a sharp drop from 75.89% in 2019 to 56.99% in 2020, partially recovering to 59.75% in 2023. Accumulated other comprehensive loss fluctuated negatively around -3% to -4%, while treasury stock at cost remained substantially negative but showed some recovery from -71.78% in 2019 to -58.21% in 2023.
Total Equity and Overall Capital Structure
Total equity declined sharply from 37.48% in 2018 to a low of 22.28% in 2020, with a partial rebound to 27.72% in 2021 before stabilizing near 24% by 2023. The decrease in equity as a portion of total capital reflects increased leverage or changes in retained earnings and equity transactions during the period.