ELF Beauty Inc (ELF)

Payables turnover

		Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020
Cost of revenue (ttm)	US$ in thousands	282,225	376,166	353,137	329,263	299,836	264,126	232,952	212,599	188,448	167,852	153,817	144,898	140,423	136,859	134,525	125,867	111,912	104,489	101,286	100,341
Payables	US$ in thousands	—	65,293	93,617	79,989	81,075	72,917	63,736	53,237	31,427	32,049	19,279	16,023	19,227	22,756	19,299	17,113	15,699	20,108	20,544	21,484
Payables turnover		—	5.76	3.77	4.12	3.70	3.62	3.65	3.99	6.00	5.24	7.98	9.04	7.30	6.01	6.97	7.36	7.13	5.20	4.93	4.67

March 31, 2025 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $282,225K ÷ $—K
= —

The payables turnover ratio for ELF Beauty Inc has varied over the past few years, indicating how efficiently the company is managing its accounts payable. From June 30, 2020, to March 31, 2022, we observe a consistent upward trend in the payables turnover ratio, reaching a peak of 9.04. This suggests that ELF Beauty Inc was paying off its suppliers faster, which could potentially indicate improved liquidity or better negotiation terms with suppliers.

However, from June 30, 2022, to December 31, 2024, we see a decline in the payables turnover ratio, indicating a slowdown in the rate at which the company is paying its suppliers. The ratio dropped to as low as 3.62 by December 31, 2023, before slightly recovering to 5.76 by December 31, 2024.

The sudden fluctuations in the payables turnover ratio from March 31, 2025, where the data is not available, could be due to various factors such as changes in payment terms, business conditions, or supplier relationships.

Overall, ELF Beauty Inc should closely monitor its payables turnover ratio to ensure optimal management of its accounts payable and maintain healthy supplier relationships.