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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
Quarterly Data

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

Microsoft Excel
Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019
Current portion of long-term debt and finance lease obligations 8.54 8.88 9.06 0.70 0.83 0.94 1.02 1.07 1.13 1.17 1.18 3.91 6.47 3.34 3.17 3.00 2.85 2.77 2.62 2.59 2.45
Accounts payable 6.64 7.18 6.58 8.53 8.09 5.28 5.76 3.56 3.12 3.89 4.64 3.91 3.43 3.22 4.18 4.34 4.65 2.73 4.29 3.39 3.90
Accrued expenses and other current liabilities 9.70 10.43 11.70 11.17 7.76 11.92 8.96 8.64 7.77 8.09 6.92 6.63 6.75 8.48 6.51 5.55 4.88 5.77 6.52 4.67 4.20
Current liabilities 24.88% 26.49% 27.33% 20.40% 16.68% 18.13% 15.75% 13.27% 12.01% 13.14% 12.73% 14.45% 16.65% 15.05% 13.87% 12.89% 12.39% 11.28% 13.43% 10.65% 10.55%
Long-term debt and finance lease obligations 13.22 14.33 14.83 7.73 9.06 10.22 11.18 16.28 17.45 18.41 18.84 19.04 19.11 22.62 23.79 25.05 26.55 27.83 28.33 30.29 31.08
Deferred tax liabilities 0.66 0.32 0.39 0.66 0.89 0.63 1.40 1.96 2.63 1.94 2.66 3.07 3.56 2.77 3.38 4.11 4.65 4.83 3.86 4.60 4.09
Long-term operating lease obligations 2.79 1.90 1.96 1.95 1.54 1.88 2.22 2.48 2.85 3.18 3.39 3.63 3.82 4.12 3.82 4.05 2.47 2.48 1.11 1.34 3.20
Other long-term liabilities 0.05 0.05 0.06 0.13 0.13 0.13 0.14 0.16 0.16 0.16 0.15 0.16 0.15 0.12 0.12 0.11 0.12 0.13 0.12 0.11 0.16
Long-term liabilities 16.72% 16.61% 17.24% 10.46% 11.62% 12.86% 14.95% 20.89% 23.10% 23.69% 25.05% 25.90% 26.64% 29.63% 31.11% 33.32% 33.79% 35.27% 33.43% 36.34% 38.53%
Total liabilities 41.60% 43.10% 44.58% 30.86% 28.30% 30.99% 30.69% 34.16% 35.11% 36.84% 37.78% 40.35% 43.29% 44.68% 44.98% 46.21% 46.18% 46.55% 46.86% 46.99% 49.08%
Common stock, par value of $0.01 per share 0.05 0.05 0.05 0.07 0.08 0.09 0.09 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.11 0.11 0.11 0.11 0.11
Additional paid-in capital 78.83 82.92 83.25 114.02 127.71 139.77 148.05 150.11 156.07 160.82 160.92 159.20 156.33 158.89 159.99 161.32 164.10 166.23 165.07 171.70 171.39
Accumulated other comprehensive loss 0.00 0.00 -0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accumulated deficit -20.48 -26.06 -27.87 -44.95 -56.09 -70.85 -78.83 -84.36 -91.28 -97.76 -98.81 -99.65 -99.73 -103.67 -105.07 -107.64 -110.38 -112.89 -112.04 -118.80 -120.58
Stockholders’ equity 58.40% 56.90% 55.42% 69.14% 71.70% 69.01% 69.31% 65.84% 64.89% 63.16% 62.22% 59.65% 56.71% 55.32% 55.02% 53.79% 53.82% 53.45% 53.14% 53.01% 50.92%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-K (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30).

The capital structure of the organization has undergone a significant transformation between June 2019 and June 2024, transitioning from a higher reliance on long-term debt toward a more equity-centric balance sheet, followed by a recent shift in liability composition.

Liability Composition and Trends
Total liabilities exhibited a consistent downward trend from 49.08% in June 2019 to a low of 28.30% in June 2023. This decline was primarily driven by a substantial reduction in long-term debt and finance lease obligations, which fell from 31.08% to 9.06% over the same period. However, a reversal occurred in December 2023, where total liabilities spiked to 44.58%, largely due to a sudden increase in the current portion of long-term debt and finance lease obligations, which jumped from 0.70% in September 2023 to 9.06% in December 2023.
Current liabilities have trended upward over the long term, rising from 10.55% in June 2019 to 24.88% in June 2024. This increase is attributed to growth in accounts payable and accrued expenses, both of which reached their highest relative proportions between September 2023 and March 2024, indicating a higher reliance on short-term operational financing.
Stockholders' Equity Dynamics
Stockholders' equity increased its share of the total balance sheet from 50.92% in June 2019 to a peak of 71.70% in June 2023. A critical driver of this trend was the significant improvement in the accumulated deficit, which contracted from -120.58% in June 2019 to -20.48% by June 2024. This reduction indicates a strong trajectory of earnings retention and a move toward eliminating historical losses.
Additional paid-in capital showed a steady relative decline from 171.39% in June 2019 to 78.83% in June 2024. This suggests that while the absolute value of equity grew, the proportion of the balance sheet attributed to initial capital contributions decreased as the company's retained earnings improved and the total asset base expanded.
Overall Financial Solvency and Risk Profile
The organization demonstrated a period of aggressive deleveraging between 2019 and mid-2023, significantly reducing long-term debt while increasing the equity cushion. This shifted the risk profile toward greater financial stability.
The shift observed in the final quarters of the analysis—specifically the increase in current liabilities and the re-emergence of long-term debt obligations—indicates a strategic realignment of debt. The movement of debt from long-term to current portions suggests upcoming maturity obligations or a change in financing strategy that has increased short-term liquidity requirements.

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