The Estée Lauder Companies (EL) Cash Flow: Operating & Free Cash Flow

The Estée Lauder Companies (EL) Cash Flow Statement

In fiscal 2026 (fiscal year ended Jun 30, 2026), The Estée Lauder Companies generated $1.77B of operating cash flow and spent $457.00M on capital expenditures. That left free cash flow of $1.32B, up 96.4% from $670.00M a year earlier, or 8.7% of revenue. It returned $578.00M to shareholders through $508.00M in dividends and $70.00M in share buybacks.

The Estée Lauder Companies Cash Flow Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for The Estée Lauder Companies Inc. (EL) - Annual data in billions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Jun 2026	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017
Operating Activities
Net Income	0.18	-1.13	0.41	1.01	2.39	2.88	0.68	1.79	1.11	1.25
Depreciation & Amortization	0.80	0.83	0.83	0.74	0.72	0.65	0.61	0.56	0.53	0.46
Deferred Income Tax	-0.16	-0.40	-0.27	-0.19	-0.15	-0.23	-0.14	-0.07	0.18	-0.12
Stock Based Compensation	0.31	0.30	0.33	0.27	0.00	0.33	0.00	0.00	0.00	0.00
Change in Working Capital	0.59	0.35	0.63	-0.36	-0.55	0.55	-0.01	0.00	0.56	0.01
Change in Accounts Receivable	0.01	0.23	-0.29	0.19	-0.01	-0.40	0.63	-0.17	-0.11	-0.09
Change in Inventory	0.05	0.18	0.77	-0.06	-0.60	-0.14	0.00	-0.38	-0.15	-0.09
Change in Accounts Payable	0.08	0.02	-0.04	-0.33	0.21	0.44	-0.31	0.32	0.35	0.05
Change in Other Working Capital	0.45	-0.06	-0.02	-0.02	-0.15	-0.04	-0.33	0.22	0.47	0.14
Other Operating Activities	0.06	-0.06	0.17	-0.02	0.64	-0.78	1.14	0.24	0.18	0.18
Net Cash from Operating Activities	1.77	1.27	2.36	1.73	3.04	3.63	2.28	2.52	2.57	1.80
Investing Activities
Capital Expenditures	-0.46	-0.60	-0.92	-3.29	-1.04	-0.64	-0.62	-0.74	-0.63	-0.50
Acquisitions	0.00	-0.02	-0.75	0.00	-0.02	-1.07	-1.05	0.00	0.00	-1.67
Purchases of Investments	-0.04	-0.02	-0.02	-0.01	-0.01	-0.04	0.00	-0.01	-0.48	-1.27
Sales/Maturities of Investments	0.00	0.00	0.00	0.08	0.00	0.00	0.00	1.23	0.75	1.23
Other Investing Activities	0.01	-0.02	-0.02	0.08	0.11	-0.12	-0.02	0.00	0.00	0.00
Net Cash from Investing Activities	-0.49	-0.62	-0.96	-3.22	-0.96	-1.86	-1.70	0.47	-0.36	-2.21
Financing Activities
Debt Repayment	0.00	-0.51	-0.01	-0.27	-0.02	-0.46	2.71	-0.17	-0.01	1.35
Common Stock Issued	0.05	0.02	0.04	0.09	0.15	0.22	0.18	0.19	0.18	0.14
Common Stock Repurchased	-0.07	-0.04	-0.04	-0.27	-2.31	-0.73	-0.89	-1.56	-0.76	-0.41
Dividends Paid	-0.51	-0.62	-0.95	-0.93	-0.84	-0.75	-0.50	-0.61	-0.55	-0.49
Other Financing Activities	-0.18	0.00	-0.73	-0.02	0.00	-0.01	-0.03	-0.03	-0.04	0.04
Net Cash from Financing Activities	-0.71	-1.14	-2.04	1.59	-3.02	-1.89	1.46	-2.17	-1.17	0.63
Summary
Effect of Forex Changes on Cash	0.01	0.02	0.00	-0.03	-0.06	0.06	-0.01	-0.01	0.01	0.01
Net Change in Cash	0.58	-0.47	-0.63	0.07	-1.00	-0.06	2.04	0.81	1.05	0.22
Cash at Beginning of Period	2.92	3.40	4.03	3.96	4.96	5.02	2.99	2.18	1.14	0.91
Cash at End of Period	3.50	2.92	3.40	4.03	3.96	4.96	5.02	2.99	2.18	1.14
Free Cash Flow	1.32	0.67	1.44	-1.56	2.00	2.99	1.66	1.77	1.94	1.30
Supplemental Disclosures
Interest Paid	-	0.35	0.36	0.24	0.16	0.17	-	-	-	-
Income Taxes Paid	-	0.63	0.55	0.67	0.76	0.66	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About The Estée Lauder Companies Cash Flow

What is The Estée Lauder Companies's free cash flow?

The Estée Lauder Companies generated free cash flow of $1.32B in fiscal 2026 (fiscal year ended Jun 30, 2026), operating cash flow of $1.77B minus $457.00M of capital expenditures. That was up 96.4% from $670.00M a year earlier. Free cash flow equaled 8.7% of revenue.

How much does The Estée Lauder Companies spend on capital expenditures?

The Estée Lauder Companies spent $457.00M on capital expenditures in fiscal 2026, compared with $602.00M a year earlier. That equals 25.8% of operating cash flow.

Does The Estée Lauder Companies pay dividends or buy back shares?

Yes. In fiscal 2026 The Estée Lauder Companies returned $508.00M in dividends and $70.00M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition