Stock Analysis on Net
Stock Analysis on Net

Estée Lauder Cos. Inc. (NYSE:EL)

$22.49

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

Common-Size Balance Sheet: Assets

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

Microsoft Excel
Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018
Cash and cash equivalents
Short-term investments
Accounts receivable, net
Inventory and promotional merchandise
Prepaid expenses and other current assets
Current assets
Property, plant and equipment, net
Operating lease right-of-use assets
Goodwill
Other intangible assets, net
Other assets
Other assets
Noncurrent assets
Total assets

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).

Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets experienced notable fluctuation over the examined period. It rose sharply from 17.35% in mid-2018 to a peak of 28.24% in mid-2020, before declining steadily to 17.21% in mid-2023. This pattern suggests a period of increased liquidity around 2020 followed by a reallocation of assets or utilization of cash reserves in subsequent years.
Short-term Investments
Short-term investments were recorded only in mid-2018 at 4.25% of total assets and were not reported in subsequent periods, indicating either a disposal of these investments or a reclassification of these assets.
Accounts Receivable, Net
Accounts receivable as a percentage of total assets peaked at 13.92% in mid-2019, then sharply decreased to 6.72% in mid-2020. From that point, it remained relatively stable but on a declining trend, reaching 6.2% in mid-2023. This decline may reflect tighter credit policies or improved collection processes over time.
Inventory and Promotional Merchandise
The inventory and promotional merchandise proportion exhibited some volatility, rising from 12.87% in mid-2018 to 15.25% in mid-2019, then declining to 11.6% in mid-2020. This was followed by a gradual increase to 13.96% in mid-2022 and a slight decrease to 12.72% in mid-2023. The variability may indicate adjustments in inventory management responding to demand fluctuations or supply chain factors.
Prepaid Expenses and Other Current Assets
This category maintained a relatively stable share, fluctuating modestly between 2.74% and 3.79% over the period, without clear upward or downward trends.
Current Assets
Current assets as a percentage of total assets peaked at 54.82% in mid-2019, then progressively declined to 39.03% by mid-2023. This suggests a strategic shift toward a more asset-heavy balance sheet, possibly reflecting increased investments in noncurrent assets or changes in asset structure.
Property, Plant and Equipment, Net
The share of property, plant, and equipment showed a decline from 14.51% in mid-2018 to a low of 10.38% in mid-2021, followed by a recovery to 13.58% in mid-2023. This pattern could indicate periods of asset disposals or slower capital expenditures followed by renewed investment in fixed assets.
Operating Lease Right-of-Use Assets
Starting in mid-2020, this asset category emerged due to changes in accounting standards related to leases, initially representing 12.83% of total assets and steadily declining to 7.67% by mid-2023. The decline may reflect lease term expirations or renegotiations.
Goodwill
Goodwill as a percentage of total assets decreased markedly from 15.33% in mid-2018 to 7.88% in mid-2020. Although there was a partial recovery to 12.06% in mid-2022, it declined again to 10.62% in mid-2023. These fluctuations may result from impairment charges, acquisitions, or divestitures impacting intangible asset balances.
Other Intangible Assets, Net
Other intangible assets demonstrated considerable growth over the period, rising from 10.15% in mid-2018 to 23.92% in mid-2023, with a particularly marked increase after mid-2020. This trend suggests accumulating intangible assets, possibly due to acquisitions, capitalized R&D, or brand strengthening efforts.
Other Assets
Two rows labeled "Other assets" showed differing values, one decreasing from 10.93% in mid-2018 to around 5.18% in mid-2023, and another increasing from 36.41% in mid-2018 to 47.39% in mid-2023. The combined interpretation of these entries suggests a reclassification or distinct accounting of different categories of other assets, with an overall growth in the broader "other" asset category.
Noncurrent Assets
The share of noncurrent assets out of total assets increased steadily from 50.92% in mid-2018 to 60.97% in mid-2023. This upward trend aligns with the decline in current assets and increased investment in intangible and fixed assets, signaling a shift towards longer-term asset holdings.
Total Assets
Total assets consistently represented 100% of the measured base in each period, serving as the denominator for ratio calculations.