Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
e.l.f. Beauty, Inc., solvency ratios
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).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | e.l.f. Beauty, Inc. debt to equity ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | e.l.f. Beauty, Inc. debt to equity ratio (including operating lease liability) improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | e.l.f. Beauty, Inc. debt to capital ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | e.l.f. Beauty, Inc. debt to capital ratio (including operating lease liability) improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | e.l.f. Beauty, Inc. debt to assets ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | e.l.f. Beauty, Inc. debt to assets ratio (including operating lease liability) improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | e.l.f. Beauty, Inc. financial leverage ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | e.l.f. Beauty, Inc. interest coverage ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | e.l.f. Beauty, Inc. fixed charge coverage ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024. |
Debt to Equity
e.l.f. Beauty, Inc., debt to equity calculation, comparison to benchmarks
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of long-term debt and finance lease obligations | 100,307) | 5,575) | 5,786) | 16,281) | 12,568) | |
| Long-term debt and finance lease obligations | 161,819) | 60,881) | 91,080) | 110,255) | 126,088) | |
| Total debt | 262,126) | 66,456) | 96,866) | 126,536) | 138,656) | |
| Stockholders’ equity | 642,572) | 411,017) | 312,429) | 269,646) | 242,171) | |
| Solvency Ratio | ||||||
| Debt to equity1 | 0.41 | 0.16 | 0.31 | 0.47 | 0.57 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| Procter & Gamble Co. | 0.65 | 0.74 | 0.68 | 0.69 | 0.75 | |
| Debt to Equity, Sector | ||||||
| Household & Personal Products | — | 0.73 | 0.67 | 0.69 | 0.75 | |
| Debt to Equity, Industry | ||||||
| Consumer Staples | — | 1.40 | 1.28 | 1.30 | 1.49 | |
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
Debt to equity = Total debt ÷ Stockholders’ equity
= 262,126 ÷ 642,572 = 0.41
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | e.l.f. Beauty, Inc. debt to equity ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Debt to Equity (including Operating Lease Liability)
e.l.f. Beauty, Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of long-term debt and finance lease obligations | 100,307) | 5,575) | 5,786) | 16,281) | 12,568) | |
| Long-term debt and finance lease obligations | 161,819) | 60,881) | 91,080) | 110,255) | 126,088) | |
| Total debt | 262,126) | 66,456) | 96,866) | 126,536) | 138,656) | |
| Current portion of operating lease liabilities | 7,016) | 4,510) | 4,391) | 4,292) | 3,083) | |
| Long-term operating lease obligations | 21,459) | 11,201) | 15,744) | 20,084) | 11,239) | |
| Total debt (including operating lease liability) | 290,601) | 82,167) | 117,001) | 150,912) | 152,978) | |
| Stockholders’ equity | 642,572) | 411,017) | 312,429) | 269,646) | 242,171) | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | 0.45 | 0.20 | 0.37 | 0.56 | 0.63 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| Procter & Gamble Co. | 0.66 | 0.76 | 0.69 | 0.71 | 0.77 | |
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Household & Personal Products | — | 0.75 | 0.69 | 0.71 | 0.76 | |
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Consumer Staples | — | 1.53 | 1.41 | 1.43 | 1.65 | |
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
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= 290,601 ÷ 642,572 = 0.45
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | e.l.f. Beauty, Inc. debt to equity ratio (including operating lease liability) improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Debt to Capital
e.l.f. Beauty, Inc., debt to capital calculation, comparison to benchmarks
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of long-term debt and finance lease obligations | 100,307) | 5,575) | 5,786) | 16,281) | 12,568) | |
| Long-term debt and finance lease obligations | 161,819) | 60,881) | 91,080) | 110,255) | 126,088) | |
| Total debt | 262,126) | 66,456) | 96,866) | 126,536) | 138,656) | |
| Stockholders’ equity | 642,572) | 411,017) | 312,429) | 269,646) | 242,171) | |
| Total capital | 904,698) | 477,473) | 409,295) | 396,182) | 380,827) | |
| Solvency Ratio | ||||||
| Debt to capital1 | 0.29 | 0.14 | 0.24 | 0.32 | 0.36 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| Procter & Gamble Co. | 0.39 | 0.43 | 0.40 | 0.41 | 0.43 | |
| Debt to Capital, Sector | ||||||
| Household & Personal Products | — | 0.42 | 0.40 | 0.41 | 0.43 | |
| Debt to Capital, Industry | ||||||
| Consumer Staples | — | 0.58 | 0.56 | 0.57 | 0.60 | |
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
Debt to capital = Total debt ÷ Total capital
= 262,126 ÷ 904,698 = 0.29
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | e.l.f. Beauty, Inc. debt to capital ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Debt to Capital (including Operating Lease Liability)
e.l.f. Beauty, Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of long-term debt and finance lease obligations | 100,307) | 5,575) | 5,786) | 16,281) | 12,568) | |
| Long-term debt and finance lease obligations | 161,819) | 60,881) | 91,080) | 110,255) | 126,088) | |
| Total debt | 262,126) | 66,456) | 96,866) | 126,536) | 138,656) | |
| Current portion of operating lease liabilities | 7,016) | 4,510) | 4,391) | 4,292) | 3,083) | |
| Long-term operating lease obligations | 21,459) | 11,201) | 15,744) | 20,084) | 11,239) | |
| Total debt (including operating lease liability) | 290,601) | 82,167) | 117,001) | 150,912) | 152,978) | |
| Stockholders’ equity | 642,572) | 411,017) | 312,429) | 269,646) | 242,171) | |
| Total capital (including operating lease liability) | 933,173) | 493,184) | 429,430) | 420,558) | 395,149) | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 0.31 | 0.17 | 0.27 | 0.36 | 0.39 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| Procter & Gamble Co. | 0.40 | 0.43 | 0.41 | 0.41 | 0.43 | |
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Household & Personal Products | — | 0.43 | 0.41 | 0.41 | 0.43 | |
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Consumer Staples | — | 0.61 | 0.59 | 0.59 | 0.62 | |
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
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 290,601 ÷ 933,173 = 0.31
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | e.l.f. Beauty, Inc. debt to capital ratio (including operating lease liability) improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Debt to Assets
e.l.f. Beauty, Inc., debt to assets calculation, comparison to benchmarks
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of long-term debt and finance lease obligations | 100,307) | 5,575) | 5,786) | 16,281) | 12,568) | |
| Long-term debt and finance lease obligations | 161,819) | 60,881) | 91,080) | 110,255) | 126,088) | |
| Total debt | 262,126) | 66,456) | 96,866) | 126,536) | 138,656) | |
| Total assets | 1,129,247) | 595,601) | 494,632) | 487,393) | 453,104) | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.23 | 0.11 | 0.20 | 0.26 | 0.31 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| Procter & Gamble Co. | 0.27 | 0.29 | 0.27 | 0.27 | 0.29 | |
| Debt to Assets, Sector | ||||||
| Household & Personal Products | — | 0.29 | 0.27 | 0.27 | 0.29 | |
| Debt to Assets, Industry | ||||||
| Consumer Staples | — | 0.33 | 0.32 | 0.32 | 0.35 | |
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
Debt to assets = Total debt ÷ Total assets
= 262,126 ÷ 1,129,247 = 0.23
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | e.l.f. Beauty, Inc. debt to assets ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Debt to Assets (including Operating Lease Liability)
e.l.f. Beauty, Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current portion of long-term debt and finance lease obligations | 100,307) | 5,575) | 5,786) | 16,281) | 12,568) | |
| Long-term debt and finance lease obligations | 161,819) | 60,881) | 91,080) | 110,255) | 126,088) | |
| Total debt | 262,126) | 66,456) | 96,866) | 126,536) | 138,656) | |
| Current portion of operating lease liabilities | 7,016) | 4,510) | 4,391) | 4,292) | 3,083) | |
| Long-term operating lease obligations | 21,459) | 11,201) | 15,744) | 20,084) | 11,239) | |
| Total debt (including operating lease liability) | 290,601) | 82,167) | 117,001) | 150,912) | 152,978) | |
| Total assets | 1,129,247) | 595,601) | 494,632) | 487,393) | 453,104) | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.26 | 0.14 | 0.24 | 0.31 | 0.34 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| Procter & Gamble Co. | 0.27 | 0.29 | 0.28 | 0.28 | 0.30 | |
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Household & Personal Products | — | 0.29 | 0.28 | 0.28 | 0.30 | |
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Consumer Staples | — | 0.37 | 0.35 | 0.36 | 0.39 | |
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
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 290,601 ÷ 1,129,247 = 0.26
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | e.l.f. Beauty, Inc. debt to assets ratio (including operating lease liability) improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Financial Leverage
e.l.f. Beauty, Inc., financial leverage calculation, comparison to benchmarks
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Total assets | 1,129,247) | 595,601) | 494,632) | 487,393) | 453,104) | |
| Stockholders’ equity | 642,572) | 411,017) | 312,429) | 269,646) | 242,171) | |
| Solvency Ratio | ||||||
| Financial leverage1 | 1.76 | 1.45 | 1.58 | 1.81 | 1.87 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| Procter & Gamble Co. | 2.43 | 2.58 | 2.52 | 2.57 | 2.59 | |
| Financial Leverage, Sector | ||||||
| Household & Personal Products | — | 2.57 | 2.51 | 2.57 | 2.59 | |
| Financial Leverage, Industry | ||||||
| Consumer Staples | — | 4.17 | 4.00 | 4.03 | 4.20 | |
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
Financial leverage = Total assets ÷ Stockholders’ equity
= 1,129,247 ÷ 642,572 = 1.76
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | e.l.f. Beauty, Inc. financial leverage ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level. |
Interest Coverage
e.l.f. Beauty, Inc., interest coverage calculation, comparison to benchmarks
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income | 127,663) | 61,530) | 21,770) | 6,232) | 17,884) | |
| Add: Income tax expense | 13,327) | 2,544) | 3,661) | (2,542) | 6,185) | |
| Add: Interest expense | 11,840) | 3,990) | 2,444) | 4,095) | 7,170) | |
| Earnings before interest and tax (EBIT) | 152,830) | 68,064) | 27,875) | 7,785) | 31,239) | |
| Solvency Ratio | ||||||
| Interest coverage1 | 12.91 | 17.06 | 11.41 | 1.90 | 4.36 | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| Procter & Gamble Co. | 21.28 | 25.28 | 41.99 | 36.09 | 35.05 | |
| Interest Coverage, Sector | ||||||
| Household & Personal Products | — | 25.23 | 41.82 | 35.81 | 34.59 | |
| Interest Coverage, Industry | ||||||
| Consumer Staples | — | 10.96 | 14.50 | 10.36 | 10.71 | |
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
Interest coverage = EBIT ÷ Interest expense
= 152,830 ÷ 11,840 = 12.91
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | e.l.f. Beauty, Inc. interest coverage ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
Fixed Charge Coverage
e.l.f. Beauty, Inc., fixed charge coverage calculation, comparison to benchmarks
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income | 127,663) | 61,530) | 21,770) | 6,232) | 17,884) | |
| Add: Income tax expense | 13,327) | 2,544) | 3,661) | (2,542) | 6,185) | |
| Add: Interest expense | 11,840) | 3,990) | 2,444) | 4,095) | 7,170) | |
| Earnings before interest and tax (EBIT) | 152,830) | 68,064) | 27,875) | 7,785) | 31,239) | |
| Add: Operating lease cost | 7,341) | 4,638) | 4,686) | 4,756) | 2,950) | |
| Earnings before fixed charges and tax | 160,171) | 72,702) | 32,561) | 12,541) | 34,189) | |
| Interest expense | 11,840) | 3,990) | 2,444) | 4,095) | 7,170) | |
| Operating lease cost | 7,341) | 4,638) | 4,686) | 4,756) | 2,950) | |
| Fixed charges | 19,181) | 8,628) | 7,130) | 8,851) | 10,120) | |
| Solvency Ratio | ||||||
| Fixed charge coverage1 | 8.35 | 8.43 | 4.57 | 1.42 | 3.38 | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| Procter & Gamble Co. | 12.31 | 13.66 | 16.98 | 15.83 | 14.54 | |
| Fixed Charge Coverage, Sector | ||||||
| Household & Personal Products | — | 13.63 | 16.90 | 15.72 | 14.44 | |
| Fixed Charge Coverage, Industry | ||||||
| Consumer Staples | — | 7.40 | 8.91 | 7.06 | 7.02 | |
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
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 160,171 ÷ 19,181 = 8.35
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | e.l.f. Beauty, Inc. fixed charge coverage ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024. |