Analysis of Debt
Total Debt (Carrying Amount)
e.l.f. Beauty, Inc., balance sheet: debt
US$ in thousands
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).
- Current Portion of Long-Term Debt and Finance Lease Obligations
- The current portion of long-term debt showed a gradual decrease from US$12,568 thousand in 2020 to US$5,575 thousand in 2023. However, a sharp increase occurred in 2024, reaching US$100,307 thousand, indicating a significant reclassification or new short-term debt obligations related to long-term borrowing or leases.
- Long-Term Debt and Finance Lease Obligations
- The long-term debt decreased consistently over the first four periods, from US$126,088 thousand in 2020 down to US$60,881 thousand in 2023. This trend demonstrates a reduction in long-term liabilities over these years. In 2024, the long-term debt rebounded noticeably to US$161,819 thousand, reflecting an increase in borrowing or finance leases with terms extending beyond one year.
- Total Long-Term Debt, Including Current Portion (Carrying Amount)
- The total carrying amount of long-term debt, which combines the current portion and long-term obligations, followed a downward trend from US$138,656 thousand in 2020 to US$66,456 thousand in 2023, indicating a significant reduction in total liabilities over this period. In 2024, a substantial increase to US$262,126 thousand was observed, driven primarily by the pronounced rise in the current portion and the increased long-term debt.
- Overall Debt Trend and Insights
- Between 2020 and 2023, the company systematically reduced both its current portion and long-term debt, leading to a significant decline in total long-term debt by over 50%. The notable resurgence of debt levels in 2024, particularly the large increase in the current portion of debt, may suggest refinancing activities, increased short-term obligations, or changes in debt classification. This reversal indicates a shift in the company’s debt structure and warrants further examination regarding the nature of the new borrowing, liquidity management, and potential impacts on financial stability.
Total Debt (Fair Value)
| Mar 31, 2024 | |
|---|---|
| Selected Financial Data (US$ in thousands) | |
| Total long-term debt, including current portion (fair value) | 262,932) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 1.00 |
Based on: 10-K (reporting date: 2024-03-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt: 6.83%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 6.70% | 89,500) | 5,997) | |
| 6.90% | 173,375) | 11,963) | |
| 1.60% | 57) | 1) | |
| Total | 262,932) | 17,960) | |
| 6.83% | |||
Based on: 10-K (reporting date: 2024-03-31).
1 US$ in thousands
2 Weighted-average interest rate = 100 × 17,960 ÷ 262,932 = 6.83%