Stock Analysis on Net
Stock Analysis on Net

e.l.f. Beauty, Inc. (NYSE:ELF)

$22.49

This company has been moved to the archive! The financial data has not been updated since August 9, 2024.

Analysis of Income Taxes

Microsoft Excel

Paying user area

Try for free

e.l.f. Beauty, Inc. pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Apple Pay Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Income Tax Expense (Benefit)

e.l.f. Beauty, Inc., income tax expense (benefit), continuing operations

US$ in thousands

Microsoft Excel
12 months ended: Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
US federal
State
Foreign
Current
US federal
State
Foreign
Deferred
Provision (benefit) for income taxes

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).

Item Description The company
Current Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. e.l.f. Beauty, Inc. current increased from 2022 to 2023 and from 2023 to 2024.
Deferred Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. e.l.f. Beauty, Inc. deferred decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
Provision (benefit) for income taxes Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. e.l.f. Beauty, Inc. provision (benefit) for income taxes decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Effective Income Tax Rate (EITR)

e.l.f. Beauty, Inc., effective income tax rate (EITR) reconciliation

Microsoft Excel
Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
Federal statutory tax rate
State tax, net of federal benefit
State tax deferred rate change, net of federal benefit
Nondeductible business expenses
Nondeductible employee compensation
Provision-to-return adjustment
Uncertain tax positions
Stock based compensation
Change in valuation allowance
Others
Effective tax rate

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).

Item Description The company
Effective tax rate Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. e.l.f. Beauty, Inc. effective tax rate decreased from 2022 to 2023 but then increased from 2023 to 2024 not reaching 2022 level.

Components of Deferred Tax Assets and Liabilities

e.l.f. Beauty, Inc., components of deferred tax assets and liabilities

US$ in thousands

Microsoft Excel
Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
Compensation
Inventory and receivables
Accrued expenses
Stock compensation
Net operating losses
Right of use liability
Capitalized research and development
Other
Gross deferred tax assets
Valuation allowance
Net deferred tax assets
Goodwill
Fixed assets and internally developed software
Intangible assets
Right of use asset
Other
Deferred tax liabilities
Net deferred tax assets (liabilities)

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).

Item Description The company
Gross deferred tax assets Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. e.l.f. Beauty, Inc. gross deferred tax assets increased from 2022 to 2023 and from 2023 to 2024.
Net deferred tax assets Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. e.l.f. Beauty, Inc. net deferred tax assets increased from 2022 to 2023 and from 2023 to 2024.
Net deferred tax assets (liabilities) Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. e.l.f. Beauty, Inc. net deferred tax assets (liabilities) increased from 2022 to 2023 and from 2023 to 2024.

Deferred Tax Assets and Liabilities, Classification

e.l.f. Beauty, Inc., deferred tax assets and liabilities, classification

US$ in thousands

Microsoft Excel
Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
Deferred tax assets
Deferred tax liabilities

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).

Item Description The company
Deferred tax assets Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent. e.l.f. Beauty, Inc. deferred tax assets increased from 2022 to 2023 and from 2023 to 2024.
Deferred tax liabilities Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent. e.l.f. Beauty, Inc. deferred tax liabilities decreased from 2022 to 2023 and from 2023 to 2024.

Adjustments to Financial Statements: Removal of Deferred Taxes

e.l.f. Beauty, Inc., adjustments to financial statements

US$ in thousands

Microsoft Excel
Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
Adjustment to Total Assets
Total assets (as reported)
Less: Noncurrent deferred tax assets, net
Total assets (adjusted)
Adjustment to Total Liabilities
Total liabilities (as reported)
Less: Noncurrent deferred tax liabilities, net
Total liabilities (adjusted)
Adjustment to Stockholders’ Equity
Stockholders’ equity (as reported)
Less: Net deferred tax assets (liabilities)
Stockholders’ equity (adjusted)
Adjustment to Net Income
Net income (as reported)
Add: Deferred income tax expense (benefit)
Net income (adjusted)

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).

e.l.f. Beauty, Inc., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)

e.l.f. Beauty, Inc., adjusted financial ratios

Microsoft Excel
Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
Net Profit Margin
Reported net profit margin
Adjusted net profit margin
Total Asset Turnover
Reported total asset turnover
Adjusted total asset turnover
Financial Leverage
Reported financial leverage
Adjusted financial leverage
Return on Equity (ROE)
Reported ROE
Adjusted ROE
Return on Assets (ROA)
Reported ROA
Adjusted ROA

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).

Financial ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. e.l.f. Beauty, Inc. adjusted net profit margin ratio improved from 2022 to 2023 and from 2023 to 2024.
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. e.l.f. Beauty, Inc. adjusted total asset turnover ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 e.l.f. Beauty, Inc. adjusted financial leverage ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. e.l.f. Beauty, Inc. adjusted ROE improved from 2022 to 2023 and from 2023 to 2024.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. e.l.f. Beauty, Inc. adjusted ROA improved from 2022 to 2023 and from 2023 to 2024.

e.l.f. Beauty, Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Net Profit Margin

Microsoft Excel
Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
As Reported
Selected Financial Data (US$ in thousands)
Net income
Net sales
Profitability Ratio
Net profit margin1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in thousands)
Adjusted net income
Net sales
Profitability Ratio
Adjusted net profit margin2

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).

2024 Calculations

1 Net profit margin = 100 × Net income ÷ Net sales
= 100 × ÷ =

2 Adjusted net profit margin = 100 × Adjusted net income ÷ Net sales
= 100 × ÷ =

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. e.l.f. Beauty, Inc. adjusted net profit margin ratio improved from 2022 to 2023 and from 2023 to 2024.

Adjusted Total Asset Turnover

Microsoft Excel
Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
As Reported
Selected Financial Data (US$ in thousands)
Net sales
Total assets
Activity Ratio
Total asset turnover1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in thousands)
Net sales
Adjusted total assets
Activity Ratio
Adjusted total asset turnover2

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).

2024 Calculations

1 Total asset turnover = Net sales ÷ Total assets
= ÷ =

2 Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= ÷ =

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. e.l.f. Beauty, Inc. adjusted total asset turnover ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.

Adjusted Financial Leverage

Microsoft Excel
Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
As Reported
Selected Financial Data (US$ in thousands)
Total assets
Stockholders’ equity
Solvency Ratio
Financial leverage1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in thousands)
Adjusted total assets
Adjusted stockholders’ equity
Solvency Ratio
Adjusted financial leverage2

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).

2024 Calculations

1 Financial leverage = Total assets ÷ Stockholders’ equity
= ÷ =

2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= ÷ =

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 e.l.f. Beauty, Inc. adjusted financial leverage ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Adjusted Return on Equity (ROE)

Microsoft Excel
Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
As Reported
Selected Financial Data (US$ in thousands)
Net income
Stockholders’ equity
Profitability Ratio
ROE1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in thousands)
Adjusted net income
Adjusted stockholders’ equity
Profitability Ratio
Adjusted ROE2

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).

2024 Calculations

1 ROE = 100 × Net income ÷ Stockholders’ equity
= 100 × ÷ =

2 Adjusted ROE = 100 × Adjusted net income ÷ Adjusted stockholders’ equity
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. e.l.f. Beauty, Inc. adjusted ROE improved from 2022 to 2023 and from 2023 to 2024.

Adjusted Return on Assets (ROA)

Microsoft Excel
Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
As Reported
Selected Financial Data (US$ in thousands)
Net income
Total assets
Profitability Ratio
ROA1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in thousands)
Adjusted net income
Adjusted total assets
Profitability Ratio
Adjusted ROA2

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).

2024 Calculations

1 ROA = 100 × Net income ÷ Total assets
= 100 × ÷ =

2 Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. e.l.f. Beauty, Inc. adjusted ROA improved from 2022 to 2023 and from 2023 to 2024.