ELF Beauty Inc (ELF)

Working capital 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
Revenue (ttm)	US$ in thousands	980,872	1,302,015	1,217,638	1,132,070	1,023,932	890,146	765,740	672,582	578,844	496,622	448,203	417,709	392,155	379,691	370,135	350,630	318,110	300,151	292,349	287,614
Total current assets	US$ in thousands	—	559,077	554,039	530,460	477,077	454,900	435,446	370,409	303,325	262,890	247,398	216,640	193,029	185,125	181,304	182,731	170,144	160,289	151,760	145,515
Total current liabilities	US$ in thousands	—	293,907	310,897	299,805	299,115	302,939	152,371	109,705	107,976	87,537	71,948	61,732	65,017	62,513	71,218	82,977	73,331	66,680	61,027	57,231
Working capital turnover		—	4.91	5.01	4.91	5.75	5.86	2.71	2.58	2.96	2.83	2.55	2.70	3.06	3.10	3.36	3.51	3.29	3.21	3.22	3.26

March 31, 2025 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $980,872K ÷ ($—K – $—K)
= —

Working capital turnover measures how efficiently a company is utilizing its working capital to generate sales. ELF Beauty Inc's working capital turnover has fluctuated over the years. It was relatively stable around 3.2 to 3.5 between June 2020 and March 2022. However, starting from June 2022, the ratio began to decline, reaching a low of 2.55 by September 2022.

There was a slight improvement in the ratio by December 2022, but it decreased again by March 2023. The ratio fluctuated between 2.58 and 3.10 until December 2023 when it experienced a significant increase to 5.86. This spike may indicate better management of working capital or a significant increase in sales during that period.

Subsequently, the ratio remained relatively high around 5.0 between March 2024 and September 2024 before dropping slightly in December 2024. Unfortunately, the data for March 2025 is missing, making it challenging to provide a complete analysis for that period.

In conclusion, ELF Beauty Inc's working capital turnover has shown fluctuations over the years, suggesting varying levels of efficiency in utilizing working capital to drive sales. The company experienced both highs and lows in this ratio, indicating the need for careful monitoring and management of its working capital position.