Stock Analysis on Net
Stock Analysis on Net

Estée Lauder Cos. Inc. (NYSE:EL)

This company has been moved to the archive! The financial data has not been updated since August 18, 2023.

Common-Size Balance Sheet: Assets

Estée Lauder Cos. Inc., common-size consolidated balance sheet: assets

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Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018
Cash and cash equivalents 17.21 18.92 22.57 28.24 22.70 17.35
Short-term investments 0.00 0.00 0.00 0.00 0.00 4.25
Accounts receivable, net 6.20 7.79 7.75 6.72 13.92 11.83
Inventory and promotional merchandise 12.72 13.96 11.40 11.60 15.25 12.87
Prepaid expenses and other current assets 2.90 3.79 2.74 3.45 2.95 2.77
Current assets 39.03% 44.47% 44.46% 50.01% 54.82% 49.08%
Property, plant and equipment, net 13.58 12.67 10.38 11.56 15.72 14.51
Operating lease right-of-use assets 7.67 9.32 9.97 12.83 0.00 0.00
Goodwill 10.62 12.06 11.91 7.88 14.20 15.33
Other intangible assets, net 23.92 16.39 18.64 13.15 9.14 10.15
Other assets 5.18 5.09 4.65 4.57 6.12 10.93
Other assets 47.39% 42.86% 45.16% 38.43% 29.46% 36.41%
Noncurrent assets 60.97% 55.53% 55.54% 49.99% 45.18% 50.92%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).

The asset composition of the organization demonstrates a strategic shift from current liquidity toward long-term noncurrent assets over the analyzed six-year period. Current assets, which peaked at 54.82% of total assets in 2019, declined steadily to 39.03% by June 30, 2023. Conversely, noncurrent assets increased from 50.92% in 2018 to 60.97% in 2023, indicating a transition toward a more capital-intensive or intangible-heavy asset structure.

Liquidity and Working Capital Trends
Cash and cash equivalents exhibited significant volatility, rising from 17.35% in 2018 to a peak of 28.24% in 2020 before receding to 17.21% in 2023. This peak in 2020 suggests a temporary accumulation of liquidity. Accounts receivable, net, showed a pronounced downward trend, falling from 13.92% in 2019 to 6.20% in 2023, which may indicate improvements in collection efficiency or changes in credit terms. Inventory and promotional merchandise remained relatively stable, fluctuating within a narrow range between 11.40% and 15.25%.
Intangible Asset Expansion
A substantial increase is observed in other intangible assets, net, which rose from 10.15% of total assets in 2018 to 23.92% in 2023. This represents the most significant growth area within the asset base. Goodwill experienced more fluctuation, starting at 15.33% in 2018, dipping to 7.88% in 2020, and settling at 10.62% by 2023, suggesting periodic impairment or dilution as the total asset base expanded.
Fixed and Long-term Asset Analysis
Property, plant and equipment, net, maintained a consistent presence, hovering between 10.38% and 15.72% throughout the period. Operating lease right-of-use assets appeared in 2020 at 12.83%, likely reflecting changes in accounting standards, and subsequently trended downward to 7.67% by 2023. Other noncurrent assets, categorized as "Other assets," showed a general increase in the latter half of the period, contributing to the overall rise in the noncurrent asset ratio.

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