e.l.f. Beauty
ELF Consumer Defensive Household & Personal Products
e.l.f. Beauty’s revenue for fiscal 2026 (year ended March 2026) was $1.6 billion, up 24.6% from fiscal 2025. In the quarter to June 2026, revenue grew 35.5%, EPS grew 91.5%, free cash flow grew 447.4% and total debt rose 235.1%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.
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e.l.f. Beauty (ELF) Altman Z-score
e.l.f. Beauty's Altman Z-score for fiscal 2026 is 2.60, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 2.60 | (3.36) |
| FY2025 | 5.96 | (8.44) |
| FY2024 | 14.40 | (0.40) |
| FY2023 | 14.80 | 10.53 |
| FY2022 | 4.27 | 1.11 |
| FY2021 | 3.15 | 2.32 |
| FY2020 | 0.83 | 0.22 |
| FY2018 | 0.62 | (1.66) |
| FY2018 | 2.27 | 0.21 |
| FY2017 | 2.07 | (1.05) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.19 | — | 0.23 | |
| Retained earnings / total assets | (0.07) | — | −0.09 | |
| EBIT / total assets | 0.03 | — | 0.10 | |
| Market value of equity / total liabilities | 2.79 | — | 1.68 | |
| Sales / total assets | 0.68 | — | 0.68 | |
| Altman Z-score | Grey zone | 2.60 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 2.18 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| IPAR Interparfums, Inc. compare | 6.1× |
| CHD Church & Dwight Co., Inc. compare | 4.7× |
| KMB Kimberly-Clark Corporation compare | 3.4× |
| SPB Spectrum Brands Holdings Inc. compare | 2.7× |
| ELF e.l.f. Beauty | 2.6× |
| CLX The Clorox Company compare | 2.1× |
| KVUE Kenvue Inc. compare | 2.0× |
| NWL Newell Brands Inc. compare | 0.4× |
| COTY Coty compare | −0.2× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets