Debt to Equity
since 2016
Calculation
e.l.f. Beauty, Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Long-term debt and finance lease obligations, including current portion1 | ÷ | Stockholders’ equity1 | |
|---|---|---|---|---|---|
| Mar 31, 2024 | 0.41 | = | 262,126) | ÷ | 642,572) |
| Mar 31, 2023 | 0.16 | = | 66,456) | ÷ | 411,017) |
| Mar 31, 2022 | 0.31 | = | 96,866) | ÷ | 312,429) |
| Mar 31, 2021 | 0.47 | = | 126,536) | ÷ | 269,646) |
| Mar 31, 2020 | 0.57 | = | 138,656) | ÷ | 242,171) |
| Dec 31, 2018 | 0.66 | = | 150,384) | ÷ | 229,331) |
| Dec 31, 2017 | 0.81 | = | 156,348) | ÷ | 193,863) |
| Dec 31, 2016 | 1.17 | = | 164,827) | ÷ | 140,862) |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 US$ in thousands
Between 2016 and 2023, a consistent trend of deleveraging was observed, characterized by a simultaneous reduction in long-term liabilities and a steady expansion of stockholders' equity. This dual movement resulted in a significant compression of the debt-to-equity ratio, indicating a strategic shift toward a more equity-funded capital structure during this period.
- Long-Term Debt Trends
- From 2016 to 2023, long-term debt and finance lease obligations decreased monotonically from US$ 164.8 million to US$ 66.5 million. This downward trajectory reversed sharply in 2024, with obligations increasing to US$ 262.1 million, representing the highest debt level recorded across the analyzed timeframe.
- Stockholders' Equity Growth
- Equity experienced uninterrupted growth throughout the period, rising from US$ 140.9 million in 2016 to US$ 642.6 million by March 31, 2024. The growth accelerated notably in the final year, with a substantial increase between 2023 and 2024.
- Debt to Equity Ratio Analysis
- The debt-to-equity ratio declined steadily from 1.17 in 2016 to a minimum of 0.16 in 2023, reflecting a diminishing reliance on borrowed capital relative to equity. In 2024, the ratio rose to 0.41, driven by the surge in long-term debt; however, the ratio remains significantly lower than the 2016 level due to the expanded equity base.
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Comparison to Competitors
e.l.f. Beauty, Inc., debt to equity, long-term trends, comparison to competitors
| e.l.f. Beauty, Inc. | Procter & Gamble Co. | |
|---|---|---|
| Mar 31, 2024 | 0.41 | 0.65 |
| Mar 31, 2023 | 0.16 | 0.74 |
| Mar 31, 2022 | 0.31 | 0.68 |
| Mar 31, 2021 | 0.47 | 0.69 |
| Mar 31, 2020 | 0.57 | 0.75 |
| Dec 31, 2018 | 0.66 | 0.60 |
| Dec 31, 2017 | 0.81 | 0.57 |
| Dec 31, 2016 | 1.17 | 0.53 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
Comparison to Industry (Consumer Staples)
e.l.f. Beauty, Inc., debt to equity, long-term trends, comparison to industry (consumer staples)
| e.l.f. Beauty, Inc. | Consumer Staples | |
|---|---|---|
| Mar 31, 2024 | 0.41 | 1.11 |
| Mar 31, 2023 | 0.16 | 1.15 |
| Mar 31, 2022 | 0.31 | 1.07 |
| Mar 31, 2021 | 0.47 | 1.07 |
| Mar 31, 2020 | 0.57 | 1.24 |
| Dec 31, 2018 | 0.66 | 1.11 |
| Dec 31, 2017 | 0.81 | 1.20 |
| Dec 31, 2016 | 1.17 | 1.09 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).