Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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e.l.f. Beauty, Inc. pages available for free this week:
- Income Statement
- Cash Flow Statement
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Total Asset Turnover since 2016
- Analysis of Revenues
- Aggregate Accruals
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e.l.f. Beauty, Inc., consolidated balance sheet: assets
US$ in thousands
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 financial data reveals several notable trends and shifts in asset composition over the observed five-year period ending in March 2024.
- Liquidity and Current Assets
- Cash and cash equivalents showed an initial increase from approximately $46.2 million in 2020 to nearly $57.8 million in 2021, followed by a decline in 2022 to $43.4 million. Subsequently, there was a sharp increase to $120.8 million in 2023, slightly decreasing to $108.2 million by 2024. Accounts receivable demonstrated a continuous and significant rise from about $29.7 million in 2020 to $123.8 million in 2024, indicating increased sales or longer collection periods.
- Inventory levels rose steadily from $46.2 million in 2020 to $84.5 million in 2022, dipped slightly in 2023 to $81.3 million, and surged thereafter to $191.5 million by 2024. Prepaid expenses and other current assets also increased consistently across the years, more than quintupling from $10.3 million in 2020 to $53.6 million in 2024.
- These changes resulted in the total current assets expanding markedly, growing from $132.4 million in 2020 to $477.1 million in 2024, reflecting a strong growth in liquid and near-liquid resources.
- Fixed and Long-Term Assets
- Net property and equipment values decreased steadily from $17.2 million in 2020 to $7.9 million in 2023, before recovering to $14.0 million in 2024. Finance lease assets consistently declined from $2.1 million in 2020 to being fully written off by 2024.
- Intangible assets showed a decreasing trend from $102.4 million in 2020 to $78.0 million in 2023, then sharply increased to $225.1 million in 2024. Goodwill remained stable at approximately $171.6 million between 2020 and 2023, then nearly doubled to $340.6 million in 2024.
- Other assets fluctuated but generally increased from $27.7 million in 2020 to $72.5 million in 2024. Overall, noncurrent assets showed a gradual decline from $320.7 million in 2020 to $292.3 million in 2023, before more than doubling to $652.2 million in 2024.
- Total Asset Base
- Total assets expanded steadily over the period, starting from $453.1 million in 2020 and increasing to $595.6 million by 2023. The most notable growth occurred between 2023 and 2024 when total assets nearly doubled to $1.13 billion, driven mainly by substantial increases in current assets, intangible assets, and goodwill.
- Insight Summary
- The data reflects a strategic buildup in working capital components, particularly inventory and accounts receivable, which could indicate preparation for increased sales demand or stocking for expansion. The recovery in property and equipment in the last year suggests renewed capital expenditures.
- The significant increases in intangible assets and goodwill in the final year imply acquisitions or major investments in intellectual property or brand value. The overall expansion of the asset base, especially the doubling of total assets in 2024, may indicate aggressive growth strategies or consolidation activities.
- The liquidity position remains robust given the sizeable cash holdings, though the sharp rise in receivables and inventory warrants monitoring for collection efficiency and inventory turnover to avoid potential working capital strain.