ELF Beauty Inc (ELF)

Working capital turnover

		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	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Revenue (ttm)	US$ in thousands	1,024,893	891,107	766,065	671,498	576,756	494,534	446,184	415,879	389,935	377,471	367,630	347,817	314,882	296,923	288,416	282,943	277,931	267,511	266,882	326,787
Total current assets	US$ in thousands	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	132,360	166,258	145,125	141,184
Total current liabilities	US$ in thousands	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	51,123	61,295	46,541	45,976
Working capital turnover		5.76	5.86	2.71	2.58	2.95	2.82	2.54	2.68	3.05	3.08	3.34	3.49	3.25	3.17	3.18	3.20	3.42	2.55	2.71	3.43

March 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,024,893K ÷ ($477,077K – $299,115K)
= 5.76

The working capital turnover ratio for ELF Beauty Inc has shown fluctuations over the past few quarters. Generally, a higher working capital turnover ratio indicates efficient management of working capital.

In the most recent quarter of March 31, 2024, the working capital turnover ratio was 5.76, which indicates that the company generated $5.76 in net sales for every $1 of working capital invested. This is a positive sign of effective utilization of the company's current assets and liabilities.

Looking at the trend over the past few quarters, we can see some variability in the working capital turnover ratio. The ratio reached its peak at 5.86 in December 31, 2023, and has shown some fluctuations since then.

On average, the company has maintained a working capital turnover ratio above 3, indicating a reasonable level of efficiency in managing its working capital. However, it is important to monitor the trend over time to ensure that the company continues to effectively utilize its working capital for generating sales.

Overall, ELF Beauty Inc's working capital turnover ratio has shown positive signs of efficiency in managing its working capital, but it is essential to continue monitoring this ratio to maintain optimal performance.