ELF Beauty Inc (ELF)

Working capital turnover

		Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Revenue	US$ in thousands	—	1,023,930	578,844	392,155	318,110
Total current assets	US$ in thousands	—	477,077	303,325	193,029	170,144
Total current liabilities	US$ in thousands	—	299,115	107,976	65,017	73,331
Working capital turnover		—	5.75	2.96	3.06	3.29

March 31, 2025 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $—K ÷ ($—K – $—K)
= —

The working capital turnover ratio for ELF Beauty Inc has shown some fluctuations over the past few years. In March 2021, the ratio was 3.29, indicating that the company was able to generate $3.29 in net sales for every dollar invested in working capital.

By March 2022, the ratio decreased to 3.06, suggesting a slight decline in efficiency in utilizing working capital to generate sales. This trend continued into March 2023, with the ratio dropping further to 2.96.

However, in March 2024, there was a significant improvement as the working capital turnover ratio surged to 5.75. This indicates a much more efficient use of working capital to drive sales. Unfortunately, there is no data available for March 2025 to provide a complete picture of the trend.

Overall, the company has exhibited mixed performance in terms of working capital turnover, with periods of both efficiency and inefficiency. It is essential for ELF Beauty Inc to carefully manage its working capital to ensure optimal utilization and improve financial performance.