e.l.f. Beauty (ELF) Cash Flow: Operating & Free Cash Flow

e.l.f. Beauty Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for e.l.f. Beauty, Inc. (ELF) - Annual data in millions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2017
Period ending	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Dec 2018	Dec 2016
Operating Activities
Net Income	26.32	112.09	127.66	61.53	21.77	6.23	17.88	33.48	5.31
Depreciation & Amortization	79.36	44.12	35.91	17.60	27.08	25.18	22.84	14.52	13.15
Deferred Income Tax	-3.52	0.45	-3.28	-6.40	-3.70	-8.58	2.44	-13.43	-7.58
Stock Based Compensation	86.92	71.79	40.63	29.12	19.65	19.68	15.49	13.47	7.15
Change in Working Capital	-2.34	-105.03	-123.75	-5.23	-46.69	-16.91	-9.98	-38.20	-9.48
Change in Accounts Receivable	-17.51	-2.74	-49.60	-22.43	-5.60	-10.53	2.50	-8.00	-15.39
Change in Inventory	7.33	4.87	-93.93	3.17	-27.66	-10.94	-0.44	6.72	-37.99
Change in Accounts Payable	0.00	-23.40	81.22	43.00	1.50	17.47	5.96	-25.48	43.14
Change in Other Working Capital	7.84	10.42	-61.44	5.09	-14.93	-12.91	-18.01	-11.43	0.76
Other Operating Activities	25.78	10.42	-6.02	5.09	1.40	3.87	-4.36	2.54	-6.44
Net Cash from Operating Activities	212.51	133.84	71.15	101.88	19.51	29.48	44.31	12.38	2.12
Investing Activities
Capital Expenditures	-22.45	-18.52	-8.66	-1.72	-4.82	-6.47	-9.42	-7.54	-9.22
Acquisitions	-581.68	0.00	-274.97	0.00	0.00	0.00	-25.92	0.00	0.00
Purchases of Investments	-1.12	-0.58	-1.03	0.00	0.00	0.00	0.00	-2.88	0.00
Other Investing Activities	0.00	-0.58	0.00	0.00	0.00	0.00	0.00	0.00	0.08
Net Cash from Investing Activities	-605.25	-19.10	-284.66	-1.72	-4.82	-6.47	-35.35	-10.42	-9.14
Financing Activities
Debt Repayment	585.00	-262.88	196.63	-30.00	-28.94	-11.76	-9.49	-8.25	13.51
Common Stock Issued	5.80	0.95	5.56	8.05	1.68	1.50	1.49	1.98	56.25
Common Stock Repurchased	-49.99	-67.06	0.00	0.00	0.00	0.00	-7.90	0.00	0.00
Dividends Paid	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-68.00
Other Financing Activities	-6.89	-2.14	-1.24	-0.79	-1.84	-1.15	-0.77	-0.92	6.55
Net Cash from Financing Activities	533.92	-74.45	200.95	-22.74	-29.11	-11.40	-16.68	-7.20	8.31
Summary
Effect of Forex Changes on Cash	-0.19	0.22	-0.03	0.00	0.00	0.00	0.00	0.00	0.00
Net Change in Cash	140.99	40.51	-12.60	77.43	-14.42	11.60	-7.71	-5.24	1.29
Cash at Beginning of Period	148.69	108.18	120.78	43.35	57.77	46.17	53.87	15.30	14.00
Cash at End of Period	289.69	148.69	108.18	120.78	43.35	57.77	46.17	10.06	15.30
Free Cash Flow	190.06	115.32	62.50	100.16	14.70	23.00	34.89	4.83	-7.10
Supplemental Disclosures
Interest Paid	-	15.66	11.27	3.58	1.83	3.16	-	-	-
Income Taxes Paid	-	25.33	12.40	13.37	7.57	2.30	-	-	-

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

Frequently Asked Questions About e.l.f. Beauty Cash Flow

What is e.l.f. Beauty's free cash flow?

e.l.f. Beauty generated free cash flow of $190.06M in fiscal 2026 (fiscal year ended Mar 31, 2026), operating cash flow of $212.51M minus $22.45M of capital expenditures. That was up 64.8% from $115.32M a year earlier. Free cash flow equaled 11.6% of revenue.

How much does e.l.f. Beauty spend on capital expenditures?

e.l.f. Beauty spent $22.45M on capital expenditures in fiscal 2026, compared with $18.52M a year earlier. That equals 10.6% of operating cash flow.

Does e.l.f. Beauty pay dividends or buy back shares?

Yes. In fiscal 2026 e.l.f. Beauty returned $49.99M 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