ELF Beauty Inc (ELF)

Return on assets (ROA)

		Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Net income	US$ in thousands	127,663	61,530	21,770	6,232	17,884
Total assets	US$ in thousands	1,129,250	595,601	494,632	487,393	453,104
ROA		11.31%	10.33%	4.40%	1.28%	3.95%

March 31, 2024 calculation

ROA = Net income ÷ Total assets
= $127,663K ÷ $1,129,250K
= 11.31%

ELF Beauty Inc has displayed a positive trend in its return on assets (ROA) over the past five years. The ROA has steadily increased from 3.95% in 2020 to 11.31% in 2024, showing a consistent improvement in the company's ability to generate profits relative to its total assets. This upward trajectory indicates that ELF Beauty Inc has been effectively utilizing its assets to generate earnings for its shareholders. The significant growth in ROA from 2020 to 2024 suggests that the company has been enhancing its operational efficiency and profitability, potentially through effective cost management, revenue growth, or asset utilization strategies. Overall, the increasing trend in ROA reflects positively on ELF Beauty Inc's financial performance and management's ability to create value from its asset base.