Price to Sales (P/S)
since 2016
Calculation
e.l.f. Beauty, Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Net sales1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| May 23, 2024 | 10.09 | = | 184.77 | ÷ | 18.30 | 18.30 | = | 1,023,932 | ÷ | 55,939,080 | |
| May 25, 2023 | 9.69 | = | 104.15 | ÷ | 10.75 | 10.75 | = | 578,844 | ÷ | 53,867,072 | |
| May 26, 2022 | 3.28 | = | 24.63 | ÷ | 7.50 | 7.50 | = | 392,155 | ÷ | 52,272,764 | |
| May 27, 2021 | 4.63 | = | 28.52 | ÷ | 6.16 | 6.16 | = | 318,110 | ÷ | 51,649,915 | |
| May 28, 2020 | 2.93 | = | 16.57 | ÷ | 5.66 | 5.66 | = | 282,851 | ÷ | 50,009,051 | |
| Feb 28, 2019 | 1.45 | = | 7.95 | ÷ | 5.48 | 5.48 | = | 267,435 | ÷ | 48,820,126 | |
| Mar 1, 2018 | 3.19 | = | 18.43 | ÷ | 5.77 | 5.77 | = | 269,888 | ÷ | 46,757,524 | |
| Mar 15, 2017 | 5.22 | = | 26.24 | ÷ | 5.03 | 5.03 | = | 229,567 | ÷ | 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 from 2017 to 2024 is characterized by an initial period of valuation contraction, followed by a recovery phase and a subsequent period of exponential growth in both market valuation and operational performance.
- Share Price Trends
- A significant decline in share price occurred between 2017 and 2019, falling from 26.24 to a low of 7.95. This was followed by a period of volatility and gradual recovery through 2022. From 2023 onwards, a rapid acceleration is observed, with the price surging to 104.15 and ultimately reaching 184.77 by May 2024.
- Sales per Share Performance
- Revenue generation per share remained relatively stagnant between 2017 and 2020, fluctuating within a narrow range of 5.03 to 5.77. Beginning in 2021, a consistent upward trend emerged, culminating in a sharp increase to 18.30 in 2024. This indicates a substantial acceleration in top-line growth in the latter part of the analyzed period.
- Price to Sales (P/S) Ratio Interpretation
- The P/S ratio mirrors the volatility of the share price, dropping from 5.22 in 2017 to a nadir of 1.45 in 2019. While the ratio stabilized between 2.93 and 4.63 from 2020 to 2022, it experienced a dramatic expansion starting in 2023. The ratio climbed to 9.69 and reached 10.09 by 2024, suggesting that the market is now assigning a significantly higher premium to each dollar of sales.
- Correlation Analysis
- The expansion of the P/S ratio in the final two years is driven by a dual effect: strong organic growth in sales per share and an aggressive increase in investor confidence reflected in the share price. The shift from a P/S of 1.45 in 2019 to 10.09 in 2024 indicates a fundamental transition in market sentiment and valuation multiples.
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Comparison to Competitors
e.l.f. Beauty, Inc., P/S, long-term trends, comparison to competitors
| e.l.f. Beauty, Inc. | Procter & Gamble Co. | |
|---|---|---|
| May 23, 2024 | 10.09 | 4.71 |
| May 25, 2023 | 9.69 | 4.46 |
| May 26, 2022 | 3.28 | 4.31 |
| May 27, 2021 | 4.63 | 4.51 |
| May 28, 2020 | 2.93 | 4.65 |
| Feb 28, 2019 | 1.45 | 3.08 |
| Mar 1, 2018 | 3.19 | 3.58 |
| Mar 15, 2017 | 5.22 | 3.51 |
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/S, long-term trends, comparison to industry (consumer staples)
| e.l.f. Beauty, Inc. | Consumer Staples | |
|---|---|---|
| May 23, 2024 | 10.09 | 1.67 |
| May 25, 2023 | 9.69 | 1.45 |
| May 26, 2022 | 3.28 | 1.54 |
| May 27, 2021 | 4.63 | 1.61 |
| May 28, 2020 | 2.93 | 1.49 |
| Feb 28, 2019 | 1.45 | 1.24 |
| Mar 1, 2018 | 3.19 | 1.25 |
| Mar 15, 2017 | 5.22 | 1.26 |
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).