Filing Flows

Filing Flows › Companies › e.l.f. Beauty › Cash flow

e.l.f. Beauty cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$12.1M in Q2 FY27 · $276M over twelve months

Operating cash flow$14.6M
Capital spending−$2.5M
Free cash flow+$12.1M
Cash / net income0.5×
Cash conversion cycle125 days

Analysis

In Q2 FY27, e.l.f. Beauty generated $14.6M of operating cash flow and spent $2.5M on capital projects, leaving free cash flow of $12.1M. That is $4.5M less than in Q2 FY26 ($16.6M).

Over the twelve months to Sep 30, 2026, operating cash flow was $288M; the largest uses were buybacks ($100M), net borrowing (+) / repaid (−) ($30.0M), capital spending ($12.5M); besides operations, cash came from shares issued ($8.0M); the cash balance rose by $151M.

Operating cash flow was $14.6M against net income of $30.0M — 0.5× profit, less cash than reported earnings, worth checking against working capital. The largest differences: receivables −$71.6M, payables +$42.1M, prepaid and other assets −$32.1M.

Its cash conversion cycle was 125 days (receivables 37 + inventory 155 − payables 67).

Free cash flow

e.l.f. Beauty: free cash flow by quartere.l.f. Beauty: free cash flow by quarter−$19.8MQ3 FY25$125MQ4 FY25$20.1MQ1 FY26$16.6MQ2 FY26$52.8MQ3 FY26$101MQ4 FY26$110MQ1 FY27$12.1MQ2 FY27
Operating cash flow less capital spending.
e.l.f. Beauty: operating cash flow against capital spendinge.l.f. Beauty: operating cash flow against capital spendingOperating cash flowCapital spending−$14.7M$5.1MQ3 FY25$136M$11.1MQ4 FY25$27.2M$7.1MQ1 FY26$23.4M$6.8MQ2 FY26$59.4M$6.6MQ3 FY26$102M$1.9MQ4 FY26$112M$1.4MQ1 FY27$14.6M$2.5MQ2 FY27
Latest (Q2 FY27): Operating cash flow $14.6M, Capital spending $2.5M.

Capital allocation, year by year

e.l.f. Beauty: where the cash came from (up) and went (down), by fiscal yeare.l.f. Beauty: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY22: Operating cash flow $19.5MFY22: Net borrowing −$28.9MFY22: Shares issued $1.7MFY22: Capital spending −$4.8M$21.2MFY22FY23: Operating cash flow $102MFY23: Net borrowing −$30.0MFY23: Shares issued $8.1MFY23: Capital spending −$1.7M$110MFY23FY24: Operating cash flow $71.2MFY24: Net borrowing $197MFY24: Shares issued $5.6MFY24: Capital spending −$8.7MFY24: Acquisitions −$275M$273MFY24FY25: Operating cash flow $134MFY25: Net borrowing −$6.2MFY25: Shares issued $953KFY25: Capital spending −$18.5MFY25: Buybacks −$67.1M$135MFY25FY26: Operating cash flow $213MFY26: Net borrowing $585MFY26: Shares issued $5.8MFY26: Capital spending −$22.4MFY26: Acquisitions −$582MFY26: Buybacks −$50.0M$803MFY26
Over these 5 years operating cash flow totalled $539M; the largest uses were acquisitions ($857M) and buybacks ($117M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$351M
Debt$827M
Net debt$476M
Due within a year$30.0M

e.l.f. Beauty funds itself: free cash flow was $276M over the last twelve months, and $351M of cash and investments stands against $827M of debt ($30.0M due within a year, 11.7× covered by cash).

e.l.f. Beauty: debt maturities by year (FY26)e.l.f. Beauty: debt maturities by year (FY26)$30.0MYear 1$30.0MYear 2$37.5MYear 3$744MYear 4
Principal due in each year as disclosed in the annual report, against $351M of cash and investments now.

Where the cash came from and went

e.l.f. Beauty: sources (+) and uses (−) of cash, Q2 FY27e.l.f. Beauty: sources (+) and uses (−) of cash, Q2 FY27Operating cash flow$14.6MNet borrowing (+) / repaid (−)−$7.5MCash drawn (+) / kept (−)−$6.6MCapital spending−$2.5MShares issued$1.9MExchange rates$61K
e.l.f. Beauty: sources (+) and uses (−) of cash, TTM to Q2 FY27e.l.f. Beauty: sources (+) and uses (−) of cash, TTM to Q2 FY27Operating cash flow$288MCash drawn (+) / kept (−)−$151MBuybacks−$100MNet borrowing (+) / repaid (−)−$30.0MCapital spending−$12.5MShares issued$8.0MAcquisitions−$1.1MOther investing−$893KExchange rates−$300K

From profit to cash

e.l.f. Beauty: net income to operating cash flow, Q2 FY27e.l.f. Beauty: net income to operating cash flow, Q2 FY27Net income$30.0MDepreciation & amortization$24.1MStock-based pay$24.6MDeferred taxes−$8.5MReceivables−$71.6MInventory−$13.7MPayables$42.1MPrepaid and other assets−$32.1MOther liabilities−$2.9MOperating cash flow$14.6M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY273715567125
Q1 FY2733264109188
Q4 FY263716263135
Q3 FY263215259125
Q2 FY264418381146
Q1 FY263914961126
Q4 FY254218965167
Q3 FY254320572176

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27$14.6M−$2.5M——−$7.5M$1.9M−$6.6M$12.1M
Q1 FY27$112M−$1.4M—−$50.0M−$7.5M$2.0M−$54.6M$110M
Q4 FY26$102M−$1.9M——−$7.5M$496K−$92.9M$101M
Q3 FY26$59.4M−$6.6M−$1.1M−$50.0M−$7.5M$3.5M$2.6M$52.8M
Q2 FY26$23.4M−$6.8M———$1.6M−$29.4M$16.6M
Q1 FY26$27.2M−$7.1M———$121K−$21.3M$20.1M
Q4 FY25$136M−$11.1M—−$50.0M—$36K−$74.8M$125M
Q3 FY25−$14.7M−$5.1M——−$2.7M$768K$22.9M−$19.8M

e.l.f. Beauty: income statement and cash flow

e.l.f. Beauty, Q2 FY27: revenue $521M (+51% year over year), operating margin 10.1%. The chart follows the revenue to costs, profit and cash.

e.l.f. Beauty: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.