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 Bad Debts

Microsoft Excel

Allowance for doubtful accounts receivable (bad debts) is a contra account which reduce the balance of the company gross accounts receivable. The relationship between the allowance and the balance in receivables should be relatively constant unless there is a change in the economy overall or a change in customer base.

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Allowance for Doubtful Accounts Receivable

Microsoft Excel
Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
Selected Financial Data (US$ in thousands)
Allowance for doubtful accounts
Accounts receivable, gross
Financial Ratio
Allowance as a percentage of accounts receivable, gross1

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).

1 2024 Calculation
Allowance as a percentage of accounts receivable, gross = 100 × Allowance for doubtful accounts ÷ Accounts receivable, gross
= 100 × ÷ =


The financial data over the five-year period reveals several notable patterns regarding accounts receivable and related allowances.

Allowance for Doubtful Accounts
The allowance for doubtful accounts started at 1,000 thousand USD in 2020 and significantly decreased over the next three years to a low of 100 thousand USD by 2022 and 2023. However, in the most recent year, 2024, this allowance sharply increased to 1,200 thousand USD, surpassing the initial value from 2020.
Accounts Receivable, Gross
Gross accounts receivable demonstrated a steady and substantial increase throughout the period. It rose from 30,721 thousand USD in 2020 to 124,997 thousand USD in 2024, more than quadrupling over five years. Notably, the increases are progressive, with a particularly large jump between 2022 and 2024.
Allowance as a Percentage of Gross Accounts Receivable
This percentage exhibited a distinct downward trend from 3.26% in 2020 to a low of 0.15% in 2023, indicating that the allowance for doubtful accounts was becoming a smaller fraction of the growing accounts receivable base. However, in 2024, this ratio rose to 0.96%, signaling a relative increase in the allowance against the sizeable receivable balance.

Overall, the data suggests rapidly expanding accounts receivable, indicating growth in sales or credit extension. The decreasing allowance ratio until 2023 might reflect improved credit quality or collection efficiency during that period. The sudden increase in both the allowance for doubtful accounts and the allowance ratio in 2024 could indicate a reassessment of credit risk or expectations of higher credit losses amid the significant increase in receivables.