Price to Earnings (P/E)
since 2016
Calculation
e.l.f. Beauty, Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| May 23, 2024 | 80.96 | = | 184.77 | ÷ | 2.28 | 2.28 | = | 127,663 | ÷ | 55,939,080 | |
| May 25, 2023 | 91.18 | = | 104.15 | ÷ | 1.14 | 1.14 | = | 61,530 | ÷ | 53,867,072 | |
| May 26, 2022 | 59.14 | = | 24.63 | ÷ | 0.42 | 0.42 | = | 21,770 | ÷ | 52,272,764 | |
| May 27, 2021 | 236.37 | = | 28.52 | ÷ | 0.12 | 0.12 | = | 6,232 | ÷ | 51,649,915 | |
| May 28, 2020 | 46.33 | = | 16.57 | ÷ | 0.36 | 0.36 | = | 17,884 | ÷ | 50,009,051 | |
| Feb 28, 2019 | 25.00 | = | 7.95 | ÷ | 0.32 | 0.32 | = | 15,525 | ÷ | 48,820,126 | |
| Mar 1, 2018 | 25.74 | = | 18.43 | ÷ | 0.72 | 0.72 | = | 33,475 | ÷ | 46,757,524 | |
| Mar 15, 2017 | 225.49 | = | 26.24 | ÷ | 0.12 | 0.12 | = | 5,313 | ÷ | 45,655,937 |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of e.l.f. Beauty, Inc. Annual Report.
The financial trajectory between 2017 and 2024 exhibits significant volatility in valuation multiples, followed by a period of aggressive capital appreciation and earnings growth. The relationship between the share price and earnings per share (EPS) has evolved from a state of extreme fluctuation to a high-growth premium valuation.
- Price-to-Earnings (P/E) Trend Analysis
- The P/E ratio experienced extreme variances in the early period, starting at a peak of 225.49 in 2017 before stabilizing between 25.00 and 25.74 during 2018 and 2019. A second significant surge occurred in 2021, where the ratio reached 236.37. Since 2022, the P/E ratio has remained elevated, fluctuating between 59.14 and 91.18, and ending at 80.96 in 2024. This indicates that the market continues to assign a substantial growth premium to the equity.
- Earnings Per Share (EPS) Dynamics
- Earnings exhibited inconsistency between 2017 and 2021, with EPS peaking at 0.72 in 2018 before falling to 0.12 in 2021. However, a consistent and strong upward trend is evident starting in 2022, with EPS rising from 0.42 to 2.28 by 2024. This represents a substantial acceleration in profitability over the most recent three-year period.
- Share Price Correlation
- The share price underwent a period of decline and stagnation between 2017 and 2022, reaching a low of 7.95 in 2019. This was followed by an exponential increase starting in 2023, with the price climbing from 24.63 in 2022 to 184.77 in 2024. The concurrent rise in both share price and EPS indicates that the recent price appreciation is supported by fundamental earnings growth, although the resulting P/E ratio indicates that price growth has outpaced earnings growth.
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Comparison to Competitors
e.l.f. Beauty, Inc., P/E, long-term trends, comparison to competitors
| e.l.f. Beauty, Inc. | Procter & Gamble Co. | |
|---|---|---|
| May 23, 2024 | 80.96 | 27.11 |
| May 25, 2023 | 91.18 | 25.47 |
| May 26, 2022 | 59.14 | 23.91 |
| May 27, 2021 | 236.37 | 24.46 |
| May 28, 2020 | 46.33 | 25.85 |
| Feb 28, 2019 | 25.00 | 21.68 |
| Mar 1, 2018 | 25.74 | 15.46 |
| Mar 15, 2017 | 225.49 | 22.38 |
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., P/E, long-term trends, comparison to industry (consumer staples)
| e.l.f. Beauty, Inc. | Consumer Staples | |
|---|---|---|
| May 23, 2024 | 80.96 | 29.43 |
| May 25, 2023 | 91.18 | 26.62 |
| May 26, 2022 | 59.14 | 25.35 |
| May 27, 2021 | 236.37 | 26.07 |
| May 28, 2020 | 46.33 | 24.12 |
| Feb 28, 2019 | 25.00 | 20.62 |
| Mar 1, 2018 | 25.74 | 22.78 |
| Mar 15, 2017 | 225.49 | 21.50 |
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).