ELF Beauty Inc (ELF)

Debt-to-equity ratio

		Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Long-term debt	US$ in thousands	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	642,572	411,017	312,429	269,646	242,171
Debt-to-equity ratio		0.00	0.00	0.00	0.00	0.00

March 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $642,572K
= 0.00

Based on the data provided, ELF Beauty Inc has consistently maintained a debt-to-equity ratio of 0.00 for the past five years. This indicates that the company has not utilized any debt financing in relation to its equity over this period. A debt-to-equity ratio of 0.00 typically suggests that the company is primarily relying on equity financing rather than debt to support its operations and growth. While a low or zero debt-to-equity ratio can be seen as a positive sign of financial stability and lower financial risk, it may also indicate missed opportunities for leveraging debt to potentially enhance returns or accelerate growth. It is essential to consider the company's overall financial strategy and capital structure preferences when evaluating the implications of a consistently low debt-to-equity ratio.