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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: Liabilities and Stockholders’ Equity

e.l.f. Beauty, Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
Current portion of long-term debt and finance lease obligations 8.88 0.94 1.17 3.34 2.77
Accounts payable 7.18 5.28 3.89 3.22 2.73
Accrued expenses 3.35 3.82 4.03 4.37 2.76
Accrued inventory 1.46 0.22 0.00 0.00 0.00
Accrued marketing 2.59 3.99 0.00 0.00 0.00
Current portion of operating lease liabilities 0.62 0.76 0.89 0.88 0.68
Accrued compensation 1.54 2.20 2.33 2.22 2.11
Taxes payable 0.51 0.48 0.43 0.00 0.00
Other current liabilities 0.35 0.45 0.41 1.02 0.23
Accrued expenses and other current liabilities 10.43% 11.92% 8.09% 8.48% 5.77%
Current liabilities 26.49% 18.13% 13.14% 15.05% 11.28%
Long-term debt and finance lease obligations 14.33 10.22 18.41 22.62 27.83
Deferred tax liabilities 0.32 0.63 1.94 2.77 4.83
Long-term operating lease obligations 1.90 1.88 3.18 4.12 2.48
Other long-term liabilities 0.05 0.13 0.16 0.12 0.13
Long-term liabilities 16.61% 12.86% 23.69% 29.63% 35.27%
Total liabilities 43.10% 30.99% 36.84% 44.68% 46.55%
Common stock, par value of $0.01 per share 0.05 0.09 0.10 0.10 0.11
Additional paid-in capital 82.92 139.77 160.82 158.89 166.23
Accumulated other comprehensive loss 0.00 0.00 0.00 0.00 0.00
Accumulated deficit -26.06 -70.85 -97.76 -103.67 -112.89
Stockholders’ equity 56.90% 69.01% 63.16% 55.32% 53.45%
Total liabilities and stockholders’ equity 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).

The capital structure has undergone a significant transformation over the five-year period, characterized by a general reduction in total liabilities through 2023, followed by a notable increase in 2024.

Current Liability Analysis
Current liabilities have demonstrated a consistent upward trend, increasing from 11.28% of total liabilities and stockholders' equity in 2020 to 26.49% in 2024. This expansion is largely attributed to a steady rise in accounts payable, which grew from 2.73% to 7.18%, and a sharp increase in the current portion of long-term debt and finance lease obligations, which rose from 0.94% in 2023 to 8.88% in 2024.
Long-Term Debt and Obligation Trends
A period of aggressive deleveraging occurred between 2020 and 2023, during which long-term debt and finance lease obligations declined from 27.83% to 10.22%. While total long-term liabilities reached a low of 12.86% in 2023, they rebounded to 16.61% in 2024, coinciding with the increase in current debt obligations.
Equity Evolution and Profitability Indicators
Stockholders' equity increased from 53.45% in 2020 to a peak of 69.01% in 2023, before declining to 56.90% in 2024. A critical observation is the substantial reduction of the accumulated deficit, which improved from -112.89% in 2020 to -26.06% in 2024, indicating a strong trajectory of cumulative earnings. Additionally, additional paid-in capital decreased significantly from 166.23% in 2020 to 82.92% in 2024.
Overall Leverage Shift
Total liabilities decreased from 46.55% in 2020 to a low of 30.99% in 2023, but experienced a sharp increase to 43.10% in 2024. This suggests a strategic shift toward higher leverage in the most recent fiscal year, specifically concentrated in short-term obligations.

The data indicates a transition from a period of debt reduction and equity accumulation toward a more leveraged position in 2024, balanced by a significantly strengthened retained earnings profile as evidenced by the shrinking accumulated deficit.

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