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e.l.f. Beauty, Inc. (NYSE:ELF)

This company has been moved to the archive! The financial data has not been updated since August 9, 2024.

Common-Size Balance Sheet: Assets

e.l.f. Beauty, Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
Cash and cash equivalents 9.58 20.28 8.76 11.85 10.19
Accounts receivable, net 10.96 11.40 9.21 8.24 6.56
Inventory, net 16.96 13.65 17.08 11.66 10.20
Prepaid expenses and other current assets 4.75 5.59 3.96 3.16 2.27
Current assets 42.25% 50.93% 39.02% 34.91% 29.21%
Property and equipment, net 1.24 1.32 2.14 2.83 3.79
Finance lease assets 0.00 0.04 0.13 0.23 0.46
Property and equipment, net, including finance lease assets 1.24% 1.36% 2.27% 3.05% 4.25%
Intangible assets, net 19.93 13.10 17.42 19.34 22.60
Goodwill 30.16 28.81 34.70 35.21 37.81
Other assets 6.42 5.79 6.59 7.48 6.12
Noncurrent assets 57.75% 49.07% 60.98% 65.09% 70.79%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2024-03-31), 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31).

A strategic shift in the asset composition is observed over the five-year period, characterized by a transition from a predominantly noncurrent asset structure toward a higher concentration of current assets. Total current assets increased from 29.21% of total assets in 2020 to a peak of 50.93% in 2023, before settling at 42.25% in 2024. Conversely, noncurrent assets declined from 70.79% in 2020 to 57.75% in 2024.

Working Capital Composition
Inventory has shown a consistent upward trend, rising from 10.20% in 2020 to 16.96% in 2024, suggesting an increase in stock levels to support growth. Accounts receivable also trended upward from 6.56% to 10.96% over the same period, indicating a larger proportion of sales occurring on credit. Cash and cash equivalents exhibited volatility, reaching a high of 20.28% in 2023 before returning to 9.58% in 2024.
Fixed Asset Intensity
A significant reduction in the proportion of property and equipment is evident, falling from 4.25% in 2020 to 1.24% in 2024. This downward trend indicates an asset-light operational model where physical infrastructure represents a diminishing fraction of the total asset base.
Intangible Assets and Goodwill
Goodwill and intangible assets continue to constitute a substantial portion of the balance sheet. Goodwill decreased from 37.81% in 2020 to 30.16% in 2024. Intangible assets fluctuated, reaching a low of 13.10% in 2023 before increasing to 19.93% in 2024. Combined, these two categories represent approximately 50% of total assets as of March 31, 2024, highlighting the importance of acquired brands or intellectual property to the company's value.

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