Name: e.l.f. Beauty, Inc. (NYSE:ELF) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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

US$ in thousands

	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	100,307)	5,575)	5,786)	16,281)	12,568)
Accounts payable	81,075)	31,427)	19,227)	15,699)	12,390)
Accrued expenses	37,782)	22,726)	19,938)	21,300)	12,518)
Accrued inventory	16,478)	1,330)	—)	—)	—)
Accrued marketing	29,282)	23,761)	—)	—)	—)
Current portion of operating lease liabilities	7,016)	4,510)	4,391)	4,292)	3,083)
Accrued compensation	17,423)	13,098)	11,532)	10,805)	9,542)
Taxes payable	5,814)	2,851)	2,128)	—)	—)
Other current liabilities	3,938)	2,698)	2,015)	4,954)	1,022)
Accrued expenses and other current liabilities	117,733)	70,974)	40,004)	41,351)	26,165)
Current liabilities	299,115)	107,976)	65,017)	73,331)	51,123)
Long-term debt and finance lease obligations	161,819)	60,881)	91,080)	110,255)	126,088)
Deferred tax liabilities	3,666)	3,742)	9,593)	13,479)	21,892)
Long-term operating lease obligations	21,459)	11,201)	15,744)	20,084)	11,239)
Other long-term liabilities	616)	784)	769)	598)	591)
Long-term liabilities	187,560)	76,608)	117,186)	144,416)	159,810)
Total liabilities	486,675)	184,584)	182,203)	217,747)	210,933)
Common stock, par value of $0.01 per share	555)	535)	515)	504)	489)
Additional paid-in capital	936,403)	832,481)	795,443)	774,441)	753,213)
Accumulated other comprehensive loss	(50)	—)	—)	—)	—)
Accumulated deficit	(294,336)	(421,999)	(483,529)	(505,299)	(511,531)
Stockholders’ equity	642,572)	411,017)	312,429)	269,646)	242,171)
Total liabilities and stockholders’ equity	1,129,247)	595,601)	494,632)	487,393)	453,104)

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 balance sheet exhibits a period of significant expansion, with total liabilities and stockholders’ equity growing from US$ 453.1 million in 2020 to US$ 1.13 billion by 2024. This growth is characterized by a substantial increase in both operational liabilities and total equity, alongside a volatile debt profile that shifted markedly in the final reporting period.

Current Liabilities Trends: A dramatic escalation in current liabilities is observed, rising from US$ 51.1 million in 2020 to US$ 299.1 million in 2024. This increase is primarily driven by a sharp rise in the current portion of long-term debt and finance lease obligations, which surged from US$ 5.6 million in 2023 to US$ 100.3 million in 2024. Additionally, operational obligations have scaled alongside company growth, with accounts payable increasing from US$ 12.4 million in 2020 to US$ 81.1 million in 2024, and accrued expenses and other current liabilities growing from US$ 26.2 million to US$ 117.7 million over the same period.
Long-Term Obligations: Long-term liabilities followed a downward trajectory between 2020 and 2023, decreasing from US$ 159.8 million to US$ 76.6 million. However, this trend reversed abruptly in 2024, with long-term liabilities climbing to US$ 187.6 million. This spike is attributed almost entirely to long-term debt and finance lease obligations, which rose from US$ 60.9 million in 2023 to US$ 161.8 million in 2024, indicating a significant new borrowing event or refinancing activity.
Stockholders’ Equity and Capital Structure: Stockholders’ equity demonstrated consistent and strong growth, increasing from US$ 242.2 million in 2020 to US$ 642.6 million in 2024. A key driver of this improvement is the steady reduction of the accumulated deficit, which narrowed from US$ 511.5 million in 2020 to US$ 294.3 million in 2024, suggesting a transition toward sustained profitability. Furthermore, additional paid-in capital increased from US$ 753.2 million to US$ 936.4 million, reflecting successful capital infusions.
Total Liabilities Analysis: Total liabilities remained relatively stable between 2020 and 2023, fluctuating between US$ 182.2 million and US$ 217.7 million. The 2024 fiscal year marked a pivot, with total liabilities jumping to US$ 486.7 million. Despite this increase, the simultaneous growth in equity has maintained a balanced capital structure, as equity continues to exceed total liabilities.

The overall financial position indicates a company in a high-growth phase, utilizing both equity growth and increased leverage to fund its operations. While the sudden increase in current and long-term debt in 2024 increases the company's financial obligations, the consistent reduction in the accumulated deficit and the expansion of the equity base provide a substantial cushion for solvency.

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