Analysis of Short-term (Operating) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
e.l.f. Beauty, Inc., short-term (operating) activity 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).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | e.l.f. Beauty, Inc. inventory turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | e.l.f. Beauty, Inc. receivables turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | e.l.f. Beauty, Inc. payables turnover ratio decreased from 2022 to 2023 and from 2023 to 2024. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | e.l.f. Beauty, Inc. working capital turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | e.l.f. Beauty, Inc. number of days of inventory outstanding improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | e.l.f. Beauty, Inc. number of days of receivables outstanding deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | e.l.f. Beauty, Inc. operating cycle improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | e.l.f. Beauty, Inc. number of days of payables outstanding increased from 2022 to 2023 and from 2023 to 2024. |
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. | e.l.f. Beauty, Inc. cash conversion cycle improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
Inventory Turnover
e.l.f. Beauty, Inc., inventory turnover 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) | ||||||
| Cost of sales | 299,836) | 188,448) | 140,423) | 111,912) | 101,728) | |
| Inventory, net | 191,489) | 81,323) | 84,498) | 56,810) | 46,209) | |
| Short-term Activity Ratio | ||||||
| Inventory turnover1 | 1.57 | 2.32 | 1.66 | 1.97 | 2.20 | |
| Benchmarks | ||||||
| Inventory Turnover, Competitors2 | ||||||
| Procter & Gamble Co. | 5.82 | 6.05 | 6.09 | 6.20 | 6.41 | |
| Inventory Turnover, Industry | ||||||
| Consumer Staples | — | 7.62 | 7.10 | 8.17 | 7.68 | |
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
Inventory turnover = Cost of sales ÷ Inventory, net
= 299,836 ÷ 191,489 = 1.57
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | e.l.f. Beauty, Inc. inventory turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Receivables Turnover
e.l.f. Beauty, Inc., receivables turnover 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 sales | 1,023,932) | 578,844) | 392,155) | 318,110) | 282,851) | |
| Accounts receivable, net | 123,797) | 67,928) | 45,567) | 40,185) | 29,721) | |
| Short-term Activity Ratio | ||||||
| Receivables turnover1 | 8.27 | 8.52 | 8.61 | 7.92 | 9.52 | |
| Benchmarks | ||||||
| Receivables Turnover, Competitors2 | ||||||
| Procter & Gamble Co. | 13.74 | 14.99 | 15.59 | 16.11 | 16.98 | |
| Receivables Turnover, Industry | ||||||
| Consumer Staples | — | 35.54 | 34.12 | 37.58 | 36.51 | |
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
Receivables turnover = Net sales ÷ Accounts receivable, net
= 1,023,932 ÷ 123,797 = 8.27
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | e.l.f. Beauty, Inc. receivables turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Payables Turnover
e.l.f. Beauty, Inc., payables turnover 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) | ||||||
| Cost of sales | 299,836) | 188,448) | 140,423) | 111,912) | 101,728) | |
| Accounts payable | 81,075) | 31,427) | 19,227) | 15,699) | 12,390) | |
| Short-term Activity Ratio | ||||||
| Payables turnover1 | 3.70 | 6.00 | 7.30 | 7.13 | 8.21 | |
| Benchmarks | ||||||
| Payables Turnover, Competitors2 | ||||||
| Procter & Gamble Co. | 2.66 | 2.93 | 2.83 | 2.70 | 2.92 | |
| Payables Turnover, Industry | ||||||
| Consumer Staples | — | 7.26 | 6.62 | 6.93 | 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
Payables turnover = Cost of sales ÷ Accounts payable
= 299,836 ÷ 81,075 = 3.70
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | e.l.f. Beauty, Inc. payables turnover ratio decreased from 2022 to 2023 and from 2023 to 2024. |
Working Capital Turnover
e.l.f. Beauty, Inc., working capital turnover 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 assets | 477,077) | 303,325) | 193,029) | 170,144) | 132,360) | |
| Less: Current liabilities | 299,115) | 107,976) | 65,017) | 73,331) | 51,123) | |
| Working capital | 177,962) | 195,349) | 128,012) | 96,813) | 81,237) | |
| Net sales | 1,023,932) | 578,844) | 392,155) | 318,110) | 282,851) | |
| Short-term Activity Ratio | ||||||
| Working capital turnover1 | 5.75 | 2.96 | 3.06 | 3.29 | 3.48 | |
| Benchmarks | ||||||
| Working Capital Turnover, Competitors2 | ||||||
| Procter & Gamble Co. | — | — | — | — | — | |
| Working Capital Turnover, Industry | ||||||
| Consumer Staples | — | — | — | — | — | |
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
Working capital turnover = Net sales ÷ Working capital
= 1,023,932 ÷ 177,962 = 5.75
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | e.l.f. Beauty, Inc. working capital turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
Average Inventory Processing Period
e.l.f. Beauty, Inc., average inventory processing period calculation, comparison to benchmarks
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Inventory turnover | 1.57 | 2.32 | 1.66 | 1.97 | 2.20 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average inventory processing period1 | 233 | 158 | 220 | 185 | 166 | |
| Benchmarks (no. days) | ||||||
| Average Inventory Processing Period, Competitors2 | ||||||
| Procter & Gamble Co. | 63 | 60 | 60 | 59 | 57 | |
| Average Inventory Processing Period, Industry | ||||||
| Consumer Staples | — | 48 | 51 | 45 | 48 | |
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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 1.57 = 233
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | e.l.f. Beauty, Inc. number of days of inventory outstanding improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Average Receivable Collection Period
e.l.f. Beauty, Inc., average receivable collection period calculation, comparison to benchmarks
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Receivables turnover | 8.27 | 8.52 | 8.61 | 7.92 | 9.52 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average receivable collection period1 | 44 | 43 | 42 | 46 | 38 | |
| Benchmarks (no. days) | ||||||
| Average Receivable Collection Period, Competitors2 | ||||||
| Procter & Gamble Co. | 27 | 24 | 23 | 23 | 21 | |
| Average Receivable Collection Period, Industry | ||||||
| Consumer Staples | — | 10 | 11 | 10 | 10 | |
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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 8.27 = 44
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | e.l.f. Beauty, Inc. number of days of receivables outstanding deteriorated from 2022 to 2023 and from 2023 to 2024. |
Operating Cycle
e.l.f. Beauty, Inc., operating cycle calculation, comparison to benchmarks
No. days
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Average inventory processing period | 233 | 158 | 220 | 185 | 166 | |
| Average receivable collection period | 44 | 43 | 42 | 46 | 38 | |
| Short-term Activity Ratio | ||||||
| Operating cycle1 | 277 | 201 | 262 | 231 | 204 | |
| Benchmarks | ||||||
| Operating Cycle, Competitors2 | ||||||
| Procter & Gamble Co. | 90 | 84 | 83 | 82 | 78 | |
| Operating Cycle, Industry | ||||||
| Consumer Staples | — | 58 | 62 | 55 | 58 | |
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
Operating cycle = Average inventory processing period + Average receivable collection period
= 233 + 44 = 277
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | e.l.f. Beauty, Inc. operating cycle improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Average Payables Payment Period
e.l.f. Beauty, Inc., average payables payment period calculation, comparison to benchmarks
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Payables turnover | 3.70 | 6.00 | 7.30 | 7.13 | 8.21 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average payables payment period1 | 99 | 61 | 50 | 51 | 44 | |
| Benchmarks (no. days) | ||||||
| Average Payables Payment Period, Competitors2 | ||||||
| Procter & Gamble Co. | 137 | 125 | 129 | 135 | 125 | |
| Average Payables Payment Period, Industry | ||||||
| Consumer Staples | — | 50 | 55 | 53 | 52 | |
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
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 3.70 = 99
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | e.l.f. Beauty, Inc. number of days of payables outstanding increased from 2022 to 2023 and from 2023 to 2024. |
Cash Conversion Cycle
e.l.f. Beauty, Inc., cash conversion cycle calculation, comparison to benchmarks
No. days
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Average inventory processing period | 233 | 158 | 220 | 185 | 166 | |
| Average receivable collection period | 44 | 43 | 42 | 46 | 38 | |
| Average payables payment period | 99 | 61 | 50 | 51 | 44 | |
| Short-term Activity Ratio | ||||||
| Cash conversion cycle1 | 178 | 140 | 212 | 180 | 160 | |
| Benchmarks | ||||||
| Cash Conversion Cycle, Competitors2 | ||||||
| Procter & Gamble Co. | -47 | -41 | -46 | -53 | -47 | |
| Cash Conversion Cycle, Industry | ||||||
| Consumer Staples | — | 8 | 7 | 2 | 6 | |
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
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 233 + 44 – 99 = 178
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. | e.l.f. Beauty, Inc. cash conversion cycle improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |