Tearsheet

e.l.f. Beauty (ELF)


Market Price (6/22/2026): $64.33 | Market Cap: $3.8 BilSector: Consumer Staples | Industry: Personal Care Products

e.l.f. Beauty (ELF)


Market Price (6/22/2026): $64.33
Market Cap: $3.8 Bil
Sector: Consumer Staples
Industry: Personal Care Products

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 25%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12%

Attractive yield
FCF Yield is 5.0%

Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, Social Media & Creator Economy, and Vegan & Alternative Foods. Themes include Direct-to-Consumer Brands, Show more.

Weak multi-year price returns
2Y Excs Rtn is -106%, 3Y Excs Rtn is -109%

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18%

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 47x, P/EPrice/Earnings or Price/(Net Income) is 144x

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.8%

Short seller report
Muddy Waters Research report on 11/20/2024.

Key risks
ELF key risks include [1] its heavy reliance on Chinese manufacturing, Show more.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 25%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12%
2 Attractive yield
FCF Yield is 5.0%
3 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, Social Media & Creator Economy, and Vegan & Alternative Foods. Themes include Direct-to-Consumer Brands, Show more.
4 Weak multi-year price returns
2Y Excs Rtn is -106%, 3Y Excs Rtn is -109%
5 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18%
6 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 47x, P/EPrice/Earnings or Price/(Net Income) is 144x
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.8%
8 Short seller report
Muddy Waters Research report on 11/20/2024.
9 Key risks
ELF key risks include [1] its heavy reliance on Chinese manufacturing, Show more.

ELF in ETFs

Weight = ELF's share of each fund

VTI0.00%
ITOT0.01%
IWB0.00%
IJH0.09%
VB0.04%
MDYG0.13%
IJK0.12%
MDY0.11%
+16 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/15/2026

e.l.f. Beauty (ELF) stock has lost about 30% since 2/28/2026 because of the following key factors:

1. Softer Fiscal 2027 Outlook and Analyst Downgrades.

Despite reporting stronger-than-expected fiscal Q4 2026 results on May 20, 2026, with adjusted EPS of $0.32 against estimates of $0.29 and revenue growth of 35.1% year-over-year to $449.29 million, e.l.f. Beauty's stock declined due to a more moderate fiscal 2027 outlook. The company provided fiscal 2027 net sales growth guidance of approximately 12-14% and adjusted diluted EPS of $3.27-$3.32, which fell below some analyst expectations. This led to multiple analyst price target reductions; for example, Piper Sandler lowered its target from $85 to $60 on May 19, 2026, and further to $50 by June 12, 2026, while Morgan Stanley downgraded the stock to Equalweight and cut its price target to $59 from $67 around May 21, 2026.

2. Impact of Tariffs and Elevated Operating Costs.

Profitability was pressured by higher tariffs and increased selling, general, and administrative (SG&A) expenses, which contributed to a GAAP net loss in fiscal Q4 2026, despite strong top-line growth. Analysts expressed concerns that these elevated costs, particularly tariff exposure, would continue to be a headwind for fiscal 2027, potentially compressing gross margins. The company's fiscal 2027 outlook assumes tariffs at approximately 35%.

Show more
Updated on 6/15/2026

e.l.f. Beauty (ELF) stock has lost about 30% since 2/28/2026 because of the following key factors:

1. Softer Fiscal 2027 Outlook and Analyst Downgrades.

Despite reporting stronger-than-expected fiscal Q4 2026 results on May 20, 2026, with adjusted EPS of $0.32 against estimates of $0.29 and revenue growth of 35.1% year-over-year to $449.29 million, e.l.f. Beauty's stock declined due to a more moderate fiscal 2027 outlook. The company provided fiscal 2027 net sales growth guidance of approximately 12-14% and adjusted diluted EPS of $3.27-$3.32, which fell below some analyst expectations. This led to multiple analyst price target reductions; for example, Piper Sandler lowered its target from $85 to $60 on May 19, 2026, and further to $50 by June 12, 2026, while Morgan Stanley downgraded the stock to Equalweight and cut its price target to $59 from $67 around May 21, 2026.

2. Impact of Tariffs and Elevated Operating Costs.

Profitability was pressured by higher tariffs and increased selling, general, and administrative (SG&A) expenses, which contributed to a GAAP net loss in fiscal Q4 2026, despite strong top-line growth. Analysts expressed concerns that these elevated costs, particularly tariff exposure, would continue to be a headwind for fiscal 2027, potentially compressing gross margins. The company's fiscal 2027 outlook assumes tariffs at approximately 35%.

3. Concerns Over Core Brand Performance and Market Share Dynamics.

While e.l.f. Beauty experienced overall growth, analysts raised concerns about the underlying performance of the core e.l.f. Cosmetics brand. Morgan Stanley cited potential market share losses in the U.S. cosmetics sector, anticipating these would become more apparent after the company cycled through previous price increases. Piper Sandler also noted that the company would "lap the disconnect between consumption and shipments in the second quarter of fiscal 2027" and raised concerns about potential volume impact when the company laps a $1 price increase in August. Additionally, innovation challenges in spring 2026 reportedly impacted the e.l.f. brand's growth.

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Stock Movement Drivers

Fundamental Drivers

The -30.3% change in ELF stock from 2/28/2026 to 6/21/2026 was primarily driven by a -76.5% change in the company's Net Income Margin (%).
(LTM values as of)22820266212026Change
Stock Price ($)92.0564.20-30.3%
Change Contribution By: 
Total Revenues ($ Mil)1,5201,6367.7%
Net Income Margin (%)6.8%1.6%-76.5%
P/E Multiple52.5144.0174.3%
Shares Outstanding (Mil)59590.4%
Cumulative Contribution-30.3%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/21/2026
ReturnCorrelation
ELF-30.3% 
Market (SPY)9.2%30.1%
Sector (XLP)-6.9%19.5%

Fundamental Drivers

The -15.7% change in ELF stock from 11/30/2025 to 6/21/2026 was primarily driven by a -72.8% change in the company's Net Income Margin (%).
(LTM values as of)113020256212026Change
Stock Price ($)76.1764.20-15.7%
Change Contribution By: 
Total Revenues ($ Mil)1,3861,63618.1%
Net Income Margin (%)5.9%1.6%-72.8%
P/E Multiple54.3144.0165.1%
Shares Outstanding (Mil)5859-1.2%
Cumulative Contribution-15.7%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/21/2026
ReturnCorrelation
ELF-15.7% 
Market (SPY)9.9%30.2%
Sector (XLP)6.4%20.4%

Fundamental Drivers

The -42.9% change in ELF stock from 5/31/2025 to 6/21/2026 was primarily driven by a -81.2% change in the company's Net Income Margin (%).
(LTM values as of)53120256212026Change
Stock Price ($)112.4964.20-42.9%
Change Contribution By: 
Total Revenues ($ Mil)1,3141,63624.6%
Net Income Margin (%)8.5%1.6%-81.2%
P/E Multiple56.4144.0155.6%
Shares Outstanding (Mil)5659-4.9%
Cumulative Contribution-42.9%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/21/2026
ReturnCorrelation
ELF-42.9% 
Market (SPY)28.1%35.5%
Sector (XLP)3.3%12.9%

Fundamental Drivers

The -38.3% change in ELF stock from 5/31/2023 to 6/21/2026 was primarily driven by a -84.9% change in the company's Net Income Margin (%).
(LTM values as of)53120236212026Change
Stock Price ($)104.0264.20-38.3%
Change Contribution By: 
Total Revenues ($ Mil)5791,636182.7%
Net Income Margin (%)10.6%1.6%-84.9%
P/E Multiple89.9144.060.2%
Shares Outstanding (Mil)5359-9.9%
Cumulative Contribution-38.3%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/21/2026
ReturnCorrelation
ELF-38.3% 
Market (SPY)85.7%36.4%
Sector (XLP)24.4%14.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
ELF Return32%67%161%-13%-39%-18%147%
Peers Return53%-11%15%-27%-2%-17%-7%
S&P 500 Return27%-19%24%23%16%8%98%

Monthly Win Rates [3]
ELF Win Rate58%58%83%42%33%67% 
Peers Win Rate69%46%52%35%38%54% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
ELF Max Drawdown-20%-37%-33%-53%-63%-48% 
Peers Max Drawdown-17%-38%-37%-45%-43%-36% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: COTY, EL, ULTA, IPAR. See ELF Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)

How Low Can It Go

EventELFS&P 500
2025 US Tariff Shock
  % Loss-31.7%-18.8%
  % Gain to Breakeven46.4%23.1%
  Time to Breakeven26 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-18.8%-9.5%
  % Gain to Breakeven23.2%10.5%
  Time to Breakeven24 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-36.5%-24.5%
  % Gain to Breakeven57.6%32.4%
  Time to Breakeven57 days427 days
2020 COVID-19 Crash
  % Loss-58.4%-33.7%
  % Gain to Breakeven140.1%50.9%
  Time to Breakeven111 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-39.6%-19.2%
  % Gain to Breakeven65.6%23.8%
  Time to Breakeven130 days105 days

Compare to COTY, EL, ULTA, IPAR

In The Past

e.l.f. Beauty's stock fell -31.7% during the 2025 US Tariff Shock. Such a loss loss requires a 46.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventELFS&P 500
2025 US Tariff Shock
  % Loss-31.7%-18.8%
  % Gain to Breakeven46.4%23.1%
  Time to Breakeven26 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-36.5%-24.5%
  % Gain to Breakeven57.6%32.4%
  Time to Breakeven57 days427 days
2020 COVID-19 Crash
  % Loss-58.4%-33.7%
  % Gain to Breakeven140.1%50.9%
  Time to Breakeven111 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-39.6%-19.2%
  % Gain to Breakeven65.6%23.8%
  Time to Breakeven130 days105 days

Compare to COTY, EL, ULTA, IPAR

In The Past

e.l.f. Beauty's stock fell -31.7% during the 2025 US Tariff Shock. Such a loss loss requires a 46.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About e.l.f. Beauty (ELF)

e.l.f. Beauty, Inc. (NYSE: ELF) is a global beauty company that develops, markets, and sells a wide range of cosmetic and skin care products. The company manages a portfolio of distinct brands, including its flagship e.l.f. brand, along with W3LL PEOPLE and Keys Soulcare, each targeting different segments and preferences within the beauty industry.

The core product offerings from e.l.f. Beauty include comprehensive collections for eyes, lips, and face, complemented by an expanding line of skin care solutions. The company reaches its primary customers through a robust multi-channel distribution strategy, which includes sales through national and international retailers, direct-to-consumer e-commerce platforms in the United States, and international distributors.

AI Analysis | Feedback

Here are a couple of brief analogies for e.l.f. Beauty:

  1. The accessible beauty equivalent of L'Oréal or Estée Lauder.

  2. The Trader Joe's for makeup and skincare.

AI Analysis | Feedback

  • Eye Products: These include cosmetics and skincare specifically formulated for the eye area.
  • Lip Products: These include cosmetics and skincare specifically formulated for the lips.
  • Face Products: These include cosmetics and skincare specifically formulated for the face.
  • Skincare Products: These encompass a range of formulations designed to improve the health and appearance of the skin.

AI Analysis | Feedback

e.l.f. Beauty (ELF) sells its products primarily through national and international retailers, as well as direct-to-consumer channels. From a business-to-business (B2B) perspective, the major customers are the retail companies that purchase e.l.f. Beauty's products to sell to end consumers.

The major customer companies for e.l.f. Beauty include:

  • Walmart (WMT)
  • Target (TGT)
  • Ulta Beauty (ULTA)
  • CVS (CVS)
  • Walgreens (WBA)

AI Analysis | Feedback

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AI Analysis | Feedback

Tarang Amin, Chairman and Chief Executive Officer Tarang Amin has served as the Chairman and Chief Executive Officer of e.l.f. Beauty since 2014, leading the company through its successful initial public offering (IPO) in 2016 on the NYSE. With over 30 years of experience in consumer products, he has a proven track record of building brands and leading high-performance teams. Before joining e.l.f. Beauty, Amin was the President, Chief Executive Officer, and Director of Schiff Nutrition, where he increased enterprise value from $190 million to $1.5 billion. He also held the position of Vice President, General Manager of The Clorox Company's Litter, Food, and Charcoal businesses, which were valued at $1.7 billion, and developed the company's Health & Wellness platform, growing it from $750 million to $1.5 billion. Amin started his career in brand management at Procter & Gamble, where he was instrumental in transforming the Pantene brand from a $50 million business to a global market leader exceeding $2 billion. Notably, TPG Growth acquired a majority stake in e.l.f. Cosmetics in 2014, and Amin was brought in to lead the company, subsequently taking it public in 2016. His early entrepreneurial experience includes helping his immigrant parents run a motel at age 14, providing him with early lessons in cash flow and economic success. He earned both his B.A. in International Policy and MBA from Duke University. Mandy Fields, Senior Vice President, Chief Financial Officer Mandy Fields was appointed Senior Vice President and Chief Financial Officer of e.l.f. Beauty in April 2019. She brings over 15 years of finance experience to her role. Prior to her tenure at e.l.f. Beauty, Fields served as the Chief Financial Officer of BevMo!, a prominent alcoholic beverage retailer, from 2016 to 2019. Before BevMo!, she held various progressive finance roles at Albertsons Companies, eventually becoming the Vice President of Finance and Analytics, where she managed a $10 billion P&L. Fields began her finance career at Gap, Inc. after working in investment banking at JPMorgan, where she covered the oil and gas industry. She intentionally transitioned into the consumer sector after her investment banking experience. She holds a Bachelor of Science in Finance from Indiana University Bloomington's Kelley School of Business. Fields has also served as an Independent Director at Allbirds, Inc. from 2020 to 2024 and is currently an Independent Director at Sonos, Inc. since 2026. Kory Marchisotto, Senior Vice President and Chief Marketing Officer Kory Marchisotto serves as the Senior Vice President and Chief Marketing Officer of e.l.f. Beauty. Scott Milsten, Senior Vice President, General Counsel, Corporate Secretary and Chief People Officer Scott Milsten holds the positions of Senior Vice President, General Counsel, Corporate Secretary, and Chief People Officer at e.l.f. Beauty.

AI Analysis | Feedback

The key risks to e.l.f. Beauty (ELF) include:

  1. Intense Competition and Rapidly Shifting Consumer Preferences: The beauty industry is characterized by vigorous competition from large multinational companies, independent brands, private labels, and influencer-backed brands. e.l.f. Beauty's continued success depends heavily on its ability to continuously innovate, anticipate, and react in a timely and cost-effective manner to fast-changing fashion and beauty trends and consumer preferences. Failure to do so could result in lost sales and reduced profitability.
  2. Supply Chain and Geopolitical Risks Due to Reliance on China: e.l.f. Beauty relies significantly on third-party suppliers and manufacturers, with approximately 75% of its product volume manufactured in China. This concentration exposes the company to substantial geopolitical and logistical risks, including potential trade policy changes, tariffs, and supply chain disruptions. For instance, product imports to the U.S. became subject to a 55% tariff level (an original 25% plus an incremental 30%) as of May 14, 2025, which can significantly impact the company's cost structure and profitability.
  3. Retailer Concentration Risk: A substantial portion of e.l.f. Beauty's net sales is derived from a limited number of national and international retailers. Any changes in the business strategies of these key retailers, or business challenges experienced by one or more of them, could adversely affect e.l.f. Beauty's distribution channels and revenue streams.

AI Analysis | Feedback

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The addressable markets for e.l.f. Beauty's main products, which include cosmetics (makeup) and skincare, are substantial on both a global and U.S. regional basis.

Global Market Size

  • The global cosmetics market, encompassing makeup and skincare, was valued at approximately USD 354.68 billion in 2025. This market is projected to expand to USD 644.17 billion by 2034.
  • Specifically for skincare products, the global market was valued at USD 122.11 billion in 2025 and is projected to reach USD 227.13 billion by 2034.

U.S. Market Size

  • For the U.S. cosmetics market, including makeup and skincare, the size was projected to be about USD 97.89 billion in 2024 and is forecast to reach USD 149.53 billion by 2033.
  • The U.S. skincare market alone was worth around USD 25.04 billion in 2024. This market is estimated to be approximately USD 24 billion in 2025.

AI Analysis | Feedback

Here are the expected drivers of future revenue growth for e.l.f. Beauty (ELF) over the next 2-3 years:

  1. Acquisition and Expansion of Rhode Skincare: The recent acquisition of Rhode skincare, a high-growth brand, is expected to be a significant contributor to revenue. Rhode has demonstrated strong performance, including achieving the number one brand ranking in Sephora North America and executing record-breaking launches in the UK. The company anticipates substantial growth as Rhode expands into more Sephora locations globally.
  2. International Market Expansion: e.l.f. Beauty is actively pursuing an aggressive international expansion strategy, with plans to increase its market presence from 16 to 120 countries and aiming for $5 billion in retail sales internationally. The company has already reported robust international sales growth, with a 30% surge in Q1 fiscal year 2026 and 60% growth in fiscal year 2025, supported by launches in new retail partners in countries like the Netherlands and Belgium.
  3. Growth in Skincare Portfolio: The company is focused on expanding its skincare offerings, particularly through e.l.f. SKIN and the acquired Naturium brand. e.l.f. SKIN consumption grew 16% in the U.S. during Q3 fiscal year 2026, outperforming the category. Naturium, acquired approximately 2.5 years ago, has doubled its customer penetration and international footprint, indicating strong growth potential within the dermatologist-led skincare segment.
  4. Continued Innovation and Market Share Gains in Color Cosmetics: The core e.l.f. Cosmetics brand is expected to continue driving revenue growth through ongoing innovation and sustained market share gains. In 2025, four of the top ten new mass cosmetics products were from the e.l.f. Brand. The brand holds the position of the number one unit share and number two dollar share brand in the U.S. mass cosmetics market, with a clear trajectory towards achieving overall market leadership.
  5. Expansion into New Retail Channels and Enhanced Distribution: e.l.f. Beauty is expanding its product availability by entering new retail channels and increasing its distribution footprint. This includes targeted door additions and significant space expansion for e.l.f. products in major retailers like Target and the launch of e.l.f. products in approximately 11,000 Dollar General stores, as well as continued rollout of Rhode into Sephora and new geographies.

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Share Repurchases

  • e.l.f. Beauty authorized a new share repurchase program of up to $500 million on August 27, 2024.
  • The company's previous $25 million share repurchase program, authorized in 2019, was exhausted, with approximately $17 million used in the two weeks preceding the August 27, 2024 announcement.
  • Annual share repurchases for e.l.f. Beauty amounted to $67.062 million in 2025.

Share Issuance

  • As part of the acquisition of rhode (announced May 28, 2025), e.l.f. Beauty issued approximately $200 million in newly issued shares of common stock (approximately 2.6 million shares) to rhode's equity holders.
  • In the acquisition of Naturium (October 4, 2023), e.l.f. Beauty issued 577,659 shares of its common stock, with a fair market value of $72.02 million at the time of calculation.
  • The number of outstanding shares increased to 59.64 million as of March 12, 2026, from 51.65 million in 2021.

Outbound Investments

  • e.l.f. Beauty signed a definitive agreement on May 28, 2025, to acquire rhode for up to $1 billion. The deal included an initial $800 million at closing ($600 million in cash and $200 million in stock) and an additional potential earn-out consideration of $200 million based on future growth over three years.
  • The company acquired Naturium in 2023 for approximately $261.34 million in cash and 577,659 shares of common stock.

Capital Expenditures

  • Capital expenditures for e.l.f. Beauty averaged $8.039 million annually for fiscal years ending March 2021 to 2025.
  • Capital expenditures increased from a low of $1.723 million in March 2023 to $8.659 million in 2024 and $18.52 million in 2025.
  • The company's latest twelve months capital expenditures were $31.623 million as of December 2025.

Better Bets vs. e.l.f. Beauty (ELF)

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

ELFCOTYELULTAIPARMedian
Namee.l.f. B.Coty Estee La.Ulta Bea.Interpar. 
Mkt Price64.201.9584.81456.1399.0984.81
Mkt Cap3.81.730.820.03.23.8
Rev LTM1,6365,79014,83312,7081,4955,790
Op Inc LTM1313421,5641,598269342
FCF LTM1903101,2851,131195310
FCF 3Y Avg1233203621,027130320
CFO LTM2135051,7981,545222505
CFO 3Y Avg1395451,8481,425172545

Growth & Margins

ELFCOTYELULTAIPARMedian
Namee.l.f. B.Coty Estee La.Ulta Bea.Interpar. 
Rev Chg LTM24.6%-3.6%0.3%11.3%1.9%1.9%
Rev Chg 3Y Avg43.3%2.8%-2.2%6.7%9.4%6.7%
Rev Chg Q35.1%-1.3%4.6%11.1%1.8%4.6%
QoQ Delta Rev Chg LTM7.7%-0.3%1.1%2.5%0.4%1.1%
Op Inc Chg LTM-16.9%-38.2%17.2%1.2%-5.8%-5.8%
Op Inc Chg 3Y Avg36.1%11.2%-3.9%-1.1%6.0%6.0%
Op Mgn LTM8.0%5.9%10.5%12.6%18.0%10.5%
Op Mgn 3Y Avg11.6%8.7%9.2%13.7%18.2%11.6%
QoQ Delta Op Mgn LTM-3.1%-0.3%0.9%0.1%-0.1%-0.1%
CFO/Rev LTM13.0%8.7%12.1%12.2%14.9%12.2%
CFO/Rev 3Y Avg10.0%9.1%12.3%12.1%11.8%11.8%
FCF/Rev LTM11.6%5.4%8.7%8.9%13.0%8.9%
FCF/Rev 3Y Avg8.8%5.4%2.5%8.7%8.8%8.7%

Valuation

ELFCOTYELULTAIPARMedian
Namee.l.f. B.Coty Estee La.Ulta Bea.Interpar. 
Mkt Cap3.81.730.820.03.23.8
P/S2.30.32.11.62.12.1
P/Op Inc28.95.019.712.511.812.5
P/EBIT46.7-4.460.212.511.212.5
P/E144.0-3.2-124.016.818.816.8
P/CFO17.83.417.112.914.314.3
Total Yield0.7%-31.0%-0.4%6.0%8.6%0.7%
Dividend Yield0.0%0.0%0.4%0.0%3.2%0.0%
FCF Yield 3Y Avg3.1%9.3%2.3%4.9%4.0%4.0%
D/E0.22.00.30.10.10.2
Net D/E0.21.80.20.1-0.00.2

Returns

ELFCOTYELULTAIPARMedian
Namee.l.f. B.Coty Estee La.Ulta Bea.Interpar. 
1M Rtn21.4%-3.9%-3.6%-11.4%7.8%-3.6%
3M Rtn-11.4%-8.9%-0.9%-13.9%11.0%-8.9%
6M Rtn-20.2%-40.2%-20.9%-23.7%19.7%-20.9%
12M Rtn-46.4%-59.1%14.4%-3.7%-22.5%-22.5%
3Y Rtn-43.1%-84.2%-54.1%0.1%-21.6%-43.1%
1M Excs Rtn19.2%-1.0%9.8%-7.3%13.5%9.8%
3M Excs Rtn-26.1%-22.8%-14.1%-28.1%-2.3%-22.8%
6M Excs Rtn-28.8%-50.7%-28.5%-32.9%10.3%-28.8%
12M Excs Rtn-74.2%-85.9%-10.3%-28.7%-49.6%-49.6%
3Y Excs Rtn-109.0%-155.5%-123.1%-68.9%-92.6%-109.0%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment1,3141,024579392318
Total1,3141,024579392318


Operating Income by Segment
$ Mil202520242023
Single Segment15815068
Total15815068


Net Income by Segment
$ Mil202520242023
Single Segment11212862
Total11212862


Price Behavior

Price Behavior
Market Price$64.20 
Market Cap ($ Bil)3.8 
First Trading Date09/22/2016 
Distance from 52W High-56.2% 
   50 Days200 Days
DMA Price$59.81$86.45
DMA Trenddowndown
Distance from DMA7.3%-25.7%
 3M1YR
Volatility59.5%67.4%
Downside Capture90.51215.07
Upside Capture7.2882.75
Correlation (SPY)29.5%35.1%
ELF Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta-0.430.561.231.392.001.56
Up Beta3.372.112.021.321.331.36
Down Beta1.171.173.863.383.811.65
Up Capture-202%-50%-72%19%84%260%
Bmk +ve Days13283667141432
Stock +ve Days10223063130384
Down Capture-181%-84%139%120%173%112%
Bmk -ve Days7132757109318
Stock -ve Days10193361119366

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ELF
ELF-46.0%67.0%-0.62-
Sector ETF (XLP)6.3%13.0%0.2112.7%
Equity (SPY)26.5%12.4%1.6135.2%
Gold (GLD)24.2%27.5%0.772.9%
Commodities (DBC)19.8%18.8%0.83-7.4%
Real Estate (VNQ)11.0%13.7%0.5215.0%
Bitcoin (BTCUSD)-40.0%42.4%-1.0822.9%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ELF
ELF19.0%57.4%0.53-
Sector ETF (XLP)6.0%13.4%0.2320.6%
Equity (SPY)13.5%17.1%0.6239.1%
Gold (GLD)17.1%18.3%0.76-1.0%
Commodities (DBC)7.5%19.4%0.29-1.7%
Real Estate (VNQ)1.9%18.9%0.0026.1%
Bitcoin (BTCUSD)11.0%54.2%0.4018.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ELF
ELF9.9%55.2%0.41-
Sector ETF (XLP)7.2%14.8%0.3624.6%
Equity (SPY)15.3%18.0%0.7338.2%
Gold (GLD)12.3%16.1%0.630.9%
Commodities (DBC)5.9%18.0%0.267.9%
Real Estate (VNQ)5.3%20.7%0.2230.3%
Bitcoin (BTCUSD)60.0%66.8%1.0011.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date5292026
Short Interest: Shares Quantity10.7 Mil
Short Interest: % Change Since 515202620.4%
Average Daily Volume5.3 Mil
Days-to-Cover Short Interest2.0 days
Basic Shares Quantity59.0 Mil
Short % of Basic Shares18.2%

Earnings Returns History

Updated 6/3/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/20/20264.7%13.2% 
2/4/2026-9.2%-9.2%-2.6%
11/5/2025-35.0%-34.0%-34.4%
8/6/2025-9.5%11.4%21.4%
2/6/2025-19.6%-15.3%-16.3%
11/6/202411.4%18.0%34.0%
8/8/2024-14.4%-17.2%-39.4%
5/22/202418.7%17.2%31.2%
...
SUMMARY STATS   
# Positive131415
# Negative1097
Median Positive11.2%13.0%21.4%
Median Negative-9.1%-7.8%-15.0%
Max Positive20.5%23.3%34.0%
Max Negative-35.0%-34.0%-39.4%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/20/20264.7%13.2% 
2/4/2026-9.2%-9.2%-2.6%
11/5/2025-35.0%-34.0%-34.4%
8/6/2025-9.5%11.4%21.4%
2/6/2025-19.6%-15.3%-16.3%
11/6/202411.4%18.0%34.0%
8/8/2024-14.4%-17.2%-39.4%
5/22/202418.7%17.2%31.2%
2/6/2024-4.9%-3.2%21.1%
11/1/20233.7%3.8%29.5%
8/1/202314.3%12.9%17.3%
5/24/202320.5%23.2%24.2%
2/1/202315.0%22.3%28.5%
11/2/202215.4%19.4%32.6%
8/3/20226.8%7.7%13.5%
5/25/202211.2%23.3%31.0%
2/2/2022-3.6%-2.5%-15.0%
11/3/2021-9.0%-7.2%-9.1%
8/4/20216.3%7.2%10.7%
5/26/2021-3.8%-7.8%-5.6%
2/3/20210.8%0.5%12.4%
11/4/2020-9.0%-1.9%4.7%
8/5/20208.3%6.5%2.2%
SUMMARY STATS   
# Positive131415
# Negative1097
Median Positive11.2%13.0%21.4%
Median Negative-9.1%-7.8%-15.0%
Max Positive20.5%23.3%34.0%
Max Negative-35.0%-34.0%-39.4%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/21/202610-K
12/31/202502/05/202610-Q
09/30/202511/10/202510-Q
06/30/202508/07/202510-Q
03/31/202505/29/202510-K
12/31/202402/07/202510-Q
09/30/202411/07/202410-Q
06/30/202408/09/202410-Q
03/31/202405/23/202410-K
12/31/202302/07/202410-Q
09/30/202311/02/202310-Q
06/30/202308/02/202310-Q
03/31/202305/25/202310-K
12/31/202202/02/202310-Q
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/21/202610-K
12/31/202502/05/202610-Q
09/30/202511/10/202510-Q
06/30/202508/07/202510-Q
03/31/202505/29/202510-K
12/31/202402/07/202510-Q
09/30/202411/07/202410-Q
06/30/202408/09/202410-Q
03/31/202405/23/202410-K
12/31/202302/07/202410-Q
09/30/202311/02/202310-Q
06/30/202308/02/202310-Q
03/31/202305/25/202310-K
12/31/202202/02/202310-Q
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
03/31/202205/26/202210-K
12/31/202102/03/202210-Q
09/30/202111/04/202110-Q
06/30/202108/05/202110-Q
03/31/202105/27/202110-K
12/31/202002/04/202110-Q
09/30/202011/05/202010-Q
06/30/202008/06/202010-Q
03/31/202005/28/202010-K
12/31/201902/06/202010-Q
09/30/201911/07/201910-Q
06/30/201908/08/201910-Q

Recent Forward Guidance

Updated 5/31/2026

Latest: Q4 2026 Earnings Reported 5/20/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2027 Revenue1.83 Bil1.85 Bil1.86 Bil15.2% Higher NewActual: 1.61 Bil for 2026
2027 Revenue Growth12.0%13.0%   Higher New
2027 Adjusted EBITDA379.00 Mil382.00 Mil385.00 Mil17.7% Higher NewActual: 324.50 Mil for 2026
2027 Adjusted effective tax rate25.0%25.5%26.0%10.9%2.5%Higher NewActual: 23.0% for 2026
2027 Net Income198.00 Mil199.50 Mil201.00 Mil9.9% Higher NewActual: 181.50 Mil for 2026
2027 EPS3.273.293.327.2% Higher NewActual: 3.08 for 2026
2027 Weighted average diluted shares outstanding 60.50 Mil   Higher New

Prior: Q3 2026 Earnings Reported 2/4/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue1.60 Bil1.61 Bil1.61 Bil3.0% RaisedGuidance: 1.56 Bil for 2026
2026 Adjusted EBITDA323.00 Mil324.50 Mil326.00 Mil6.7% RaisedGuidance: 304.00 Mil for 2026
2026 Adjusted net income180.00 Mil181.50 Mil183.00 Mil9.0% RaisedGuidance: 166.50 Mil for 2026
2026 Adjusted diluted earnings per share3.053.083.18.8% RaisedGuidance: 2.83 for 2026
2026 Adjusted effective tax rate 23.0% 0 AffirmedGuidance: 23.0% for 2026

Insider Activity

Updated 6/11/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Hartnett, Jennifer CatherineChief Commercial OfficerDirectSell611202651.534,352224,2592,785,506Form
2Franks, Joshua AllenSVP, OperationsDirectSell611202651.533,505180,6137,730,891Form
3Fields, Mandy JSee RemarksDirectSell611202651.534,327222,9705,511,700Form
4Marchisotto, KorySee RemarksDirectSell611202651.534,352224,2599,371,658Form
5Milsten, Scott DirectSell611202651.534,162214,4687,450,259Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Hartnett, Jennifer CatherineChief Commercial OfficerDirectSell611202651.534,352224,2592,785,506Form
2Franks, Joshua AllenSVP, OperationsDirectSell611202651.533,505180,6137,730,891Form
3Fields, Mandy JSee RemarksDirectSell611202651.534,327222,9705,511,700Form
4Marchisotto, KorySee RemarksDirectSell611202651.534,352224,2599,371,658Form
5Milsten, Scott DirectSell611202651.534,162214,4687,450,259Form
6Amin, TarangChief Executive OfficerDirectSell611202651.537,000360,7106,626,397Form
7Hartnett, Jennifer CatherineChief Commercial OfficerDirectSell605202651.9410,318535,9173,033,712Form
8Franks, Joshua AllenSVP, OperationsDirectSell605202651.946,854355,9977,974,452Form
9Fields, Mandy JSee RemarksDirectSell605202651.948,464439,6205,780,299Form
10Marchisotto, KorySee RemarksDirectSell605202651.948,512442,1139,672,267Form
11Milsten, Scott DirectSell605202651.948,512442,1137,725,711Form
12Amin, TarangChief Executive OfficerDirectSell605202651.9415,829822,1587,042,700Form
13Levitan, Lauren Cooks DirectSell601202656.317,714434,376650,382Form
14Franks, Joshua AllenSVP, OperationsDirectSell428202663.6623,5351,498,2387,516,400Form
15Hartnett, Jennifer CatherineChief Commercial OfficerDirectSell428202663.6620,8291,325,9744,375,097Form
16Milsten, Scott DirectSell428202663.6623,7971,514,9177,317,080Form
17Fields, Mandy JSee RemarksDirectSell428202663.6623,6561,505,9414,929,639Form
18Marchisotto, KorySee RemarksDirectSell428202663.6623,7961,514,8539,702,866Form
19Amin, TarangChief Executive OfficerDirectSell428202663.6641,5202,643,1637,173,845Form
20Amin, TarangChief Executive OfficerDirectSell402202662.6452,8803,312,1856,164,372Form
21Farrell, Matthew DirectBuy223202692.965,000464,8141,005,859Form
22Amin, TarangChief Executive OfficerDirectSell1208202579.831,522121,5016,410,030Form
23Milsten, Scott DirectSell1208202579.8390672,3267,703,595Form
24Levitan, Lauren Cooks DirectSell1126202571.683,760269,531827,949Form
25Amin, TarangChief Executive OfficerDirectSell10032025132.24116,31515,381,87210,819,877Form
26Marchisotto, KorySee RemarksDirectSell9192025150.0010,8121,621,80020,096,400Form
27Milsten, Scott DirectSell9182025150.2315,0002,253,42814,633,157Form
28Fields, Mandy JSee RemarksDirectSell9182025150.215,298795,7988,840,601Form
29Franks, Joshua AllenSVP, OperationsDirectSell9182025145.007,9131,147,38514,408,505Form
30Marchisotto, KorySee RemarksDirectSell9122025140.1013,5151,893,47720,285,074Form
31Milsten, Scott DirectSell9122025140.2815,0002,104,26415,768,797Form
32Hartnett, Jennifer CatherineChief Commercial OfficerDirectSell9122025136.321,304177,7597,170,202Form
33Milsten, Scott DirectSell9122025134.5655,5817,479,01615,125,426Form
34Fields, Mandy JSee RemarksDirectSell9102025136.2855,6927,589,6808,742,878Form
35Tait, Gayle DirectSell8292025130.2056573,563677,300Form
36Watson, Maureen C DirectSell8292025128.40785100,793352,453Form
37Levitan, Lauren Cooks DirectSell8182025118.944,630550,6761,368,603Form
38Franks, Joshua AllenSVP, OperationsDirectSell6122025125.0013,1891,648,62513,410,250Form
39Amin, TarangChief Executive OfficerDirectSell6092025117.612,405282,85221,944,379Form
40Marchisotto, KorySee RemarksDirectSell6092025117.611,496175,94518,618,016Form
41Franks, Joshua AllenSVP, OperationsDirectSell6092025117.611,496175,94514,168,594Form
42Fields, Mandy JSee RemarksDirectSell6092025117.611,487174,88614,095,088Form
43Hartnett, Jennifer CatherineChief Commercial OfficerDirectSell6092025116.529,5061,107,6236,280,684Form
44Milsten, Scott DirectSell6092025114.781,442165,51313,474,483Form
45Hartnett, Jennifer CatherineChief Commercial OfficerDirectSell6052025115.569,9211,146,5177,327,842Form
46Franks, Joshua AllenSVP, OperationsDirectSell6052025115.5611,8601,370,59714,095,080Form
47Fields, Mandy JSee RemarksDirectSell6052025115.5611,7951,363,08614,021,812Form
48Marchisotto, KorySee RemarksDirectSell6052025115.5611,8601,370,59718,467,123Form
49Milsten, Scott DirectSell6052025115.5611,8601,370,59713,733,247Form
50Amin, TarangChief Executive OfficerDirectSell6052025115.5624,5332,835,14921,840,688Form
51Levitan, Lauren Cooks DirectSell6052025115.944,670541,4301,472,063Form
52Watson, Maureen C DirectSell6052025115.003,875445,625217,120Form
Core Cache Last Updated: 6/21/2026