olivLaw · US equity research
The Estée Lauder Companies Inc. EL
Perfumes, Cosmetics & Other Toilet Preparations · SIC 2844 · Vertical: Perfumes, Cosmetics & Other Toilet Preparations (SIC 2844)
The Estée Lauder Companies is one of the world's leading makers and sellers of luxury and prestige beauty products, with brands such as Estée Lauder, La Mer, M·A·C and Jo Malone London. Sales returned to growth in fiscal 2026 and adjusted operating margin improved significantly under the 'Beauty Reimagined' strategy.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, The Estée Lauder Companies Inc. (EL) stock was 112.04 USD (+6.31% on the day), with P/E 111.7 on diluted EPS of 1.00 USD over the last 12 months, dividend yield 1.25%, beta 1.39, 52-week range 67.23–119.61 USD. Latest reported quarter (Q1 2027): revenue of 3.7 bn USD (+6.7% YoY), net income of 233.0 m USD (+395.7% YoY), diluted EPS 0.64 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 65.8
- strong (55–70)
- Bollinger (20, 2)
- 96.47 – 113.94
- in the upper half of the band · %B 0.89 · band width 16.6%
- SMA 50 / 200
- 100.59 / 91.45
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 3.02 / 2.96
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +20.1% | −1.1% | +21.2 pp | — |
| 3 months | +28.8% | −0.5% | +29.3 pp | — |
| 6 months | +29.3% | +4.4% | +24.9 pp | — |
| Year to date | +7.0% | +12.3% | −5.3 pp | — |
| 1 year | +20.6% | +13.5% | +7.1 pp | +4.5% |
| 3 years | +1.0% | +76.4% | −75.4 pp | −14.8% |
| 5 years | −67.9% | +63.7% | −131.6 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q1 2027 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4.0 bn | 3.6 bn | 3.4 bn | 3.5 bn | 4.2 bn | 3.7 bn | 3.6 bn | 3.7 bn |
| Cost of revenue | 957.0 m | 889.0 m | 955.0 m | 927.0 m | 994.0 m | 876.0 m | 890.0 m | 902.0 m |
| Gross profit | 3.0 bn | 2.7 bn | 2.5 bn | 2.6 bn | 3.2 bn | 2.8 bn | 2.7 bn | 2.8 bn |
| SG&A | 2.6 bn | 2.3 bn | 2.3 bn | 2.3 bn | 2.6 bn | 2.3 bn | 2.5 bn | 2.4 bn |
| Operating income | -580.0 m | 306.0 m | -390.0 m | 169.0 m | 401.0 m | 249.0 m | -39.0 m | 408.0 m |
| Depreciation & amortisation | 207.0 m | 204.0 m | 210.0 m | 200.0 m | 197.0 m | 201.0 m | 198.0 m | 191.0 m |
| Interest expense | 90.0 m | 87.0 m | 88.0 m | 86.0 m | 85.0 m | 82.0 m | 81.0 m | 83.0 m |
| Pre-tax income | -650.0 m | 241.0 m | -451.0 m | 109.0 m | 333.0 m | 179.0 m | -104.0 m | 345.0 m |
| Income tax | -60.0 m | 82.0 m | 95.0 m | 62.0 m | 171.0 m | 90.0 m | 12.0 m | 112.0 m |
| Net income | -590.0 m | 159.0 m | -546.0 m | 47.0 m | 162.0 m | 89.0 m | -116.0 m | 233.0 m |
| Diluted EPS | -1.64 | 0.44 | -1.51 ≈ | 0.13 | 0.44 | 0.24 | -0.32 ≈ | 0.64 |
| Operating cash flow | 1.1 bn ≈ | 284.0 m ≈ | 601.0 m | -340.0 m | 1.1 bn ≈ | 412.0 m ≈ | 576.0 m | -166.0 m |
| Capex | 132.0 m ≈ | 122.0 m ≈ | 207.0 m | 96.0 m | 108.0 m ≈ | 102.0 m ≈ | 151.0 m | 69.0 m |
| Dividends paid | 126.0 m ≈ | 126.0 m ≈ | 126.0 m | 127.0 m | 128.0 m ≈ | 126.0 m ≈ | 127.0 m | 126.0 m |
| Share repurchases | 25.0 m ≈ | 0 ≈ | 0 | 9.0 m | 58.0 m ≈ | 3.0 m ≈ | 0 | 1.0 m |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 86 percentile of its own 29-quarter history (min 26.4, median 45.0, max 178.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14.9 bn | 14.3 bn | 16.2 bn | 17.7 bn | 15.9 bn | 15.6 bn | 14.3 bn | 15.0 bn |
| Revenue YoY | +8.6% | −3.8% | +13.4% | +9.4% | −10.3% | −1.9% | −8.2% | +5.0% |
| Net income | 1.8 bn | 684.0 m | 2.9 bn | 2.4 bn | 1.0 bn | 409.0 m | -1.1 bn | 182.0 m |
| Net income YoY | +61.1% | −61.7% | +320.3% | −16.2% | −58.1% | −59.5% | −377.0% | unavailable |
| Diluted EPS | 4.82 | 1.86 | 7.79 | 6.55 | 2.79 | 1.08 | -3.15 | 0.50 |
| Diluted EPS YoY | +63.4% | −61.4% | +318.8% | −15.9% | −57.4% | −61.3% | −391.7% | unavailable |
| net % | 12.0% | 4.8% | 17.7% | 13.6% | 6.3% | 2.6% | -7.9% | 1.2% |
| Free cash flow | 1.8 bn | 1.7 bn | 3.0 bn | 2.0 bn | 728.0 m | 1.4 bn | 670.0 m | 1.3 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 30 Jun 2026
- Cash
- 3.5 bn USD
- Financial debt
- 503.0 m USD
- Net debt
- -3.0 bn USD
- Equity
- 3.8 bn USD
- Total assets
- 19.8 bn USD
- Debt / equity
- 0.13x
- Current ratio
- 1.22x
- ROE
- 4.7%
- ROA
- 0.9%
- FCF margin
- 8.7%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 16.2 bn | 17.7 bn | 15.9 bn | 15.6 bn | 14.3 bn | 15.0 bn | SEC (XBRL)· 19 Aug 2026verified |
| Cost of revenue | 3.8 bn | 4.3 bn | 4.6 bn | 4.4 bn | 3.7 bn | 3.7 bn | SEC (XBRL)· 19 Aug 2026verified |
| Gross profit | 12.4 bn | 13.4 bn | 11.3 bn | 11.2 bn | 10.6 bn | 11.4 bn | SEC (XBRL)· 19 Aug 2026verified |
| SG&A | 9.4 bn | 9.9 bn | 9.6 bn | 9.6 bn | 9.5 bn | 9.7 bn | SEC (XBRL)· 19 Aug 2026verified |
| Operating income | 2.6 bn | 3.2 bn | 1.5 bn | 970.0 m | -785.0 m | 780.0 m | SEC (XBRL)· 19 Aug 2026verified |
| Depreciation & amortisation | 651.0 m | 727.0 m | 744.0 m | 825.0 m | 829.0 m | 796.0 m | SEC (XBRL)· 19 Aug 2026verified |
| EBITDA | 3.3 bn ≈ | 3.9 bn ≈ | 2.3 bn ≈ | 1.8 bn ≈ | 44.0 m ≈ | 1.6 bn ≈ | SEC (XBRL)· 19 Aug 2026derived |
| Interest expense | 173.0 m | 167.0 m | 255.0 m | 378.0 m | 357.0 m | 334.0 m | SEC (XBRL)· 19 Aug 2026verified |
| Pre-tax income | 3.3 bn | 3.0 bn | 1.4 bn | 772.0 m | -1.0 bn | 517.0 m | SEC (XBRL)· 19 Aug 2026verified |
| Income tax | 456.0 m | 628.0 m | 387.0 m | 363.0 m | 93.0 m | 335.0 m | SEC (XBRL)· 19 Aug 2026verified |
| Net income | 2.9 bn | 2.4 bn | 1.0 bn | 409.0 m | -1.1 bn | 182.0 m | SEC (XBRL)· 19 Aug 2026verified |
| Diluted EPS | 7.79 | 6.55 | 2.79 | 1.08 | -3.15 | 0.50 | SEC (XBRL)· 19 Aug 2026verified |
| Weighted average diluted shares | 368.2 m | 364.9 m | 360.9 m | 360.8 m | 360.1 m | 364.8 m | SEC (XBRL)· 19 Aug 2026verified |
| Dividend per share | 2.07 | 2.33 | 2.58 | 2.64 | 1.71 | 1.40 | SEC (XBRL)· 19 Aug 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 5.0 bn | 4.0 bn | 4.0 bn | 3.4 bn | 2.9 bn | 3.5 bn | SEC (XBRL)· 19 Aug 2026verified |
| Receivables | 1.7 bn | 1.6 bn | 1.5 bn | 1.7 bn | 1.5 bn | 1.5 bn | SEC (XBRL)· 19 Aug 2026verified |
| Inventories | 2.5 bn | 2.9 bn | 3.0 bn | 2.2 bn | 2.1 bn | 2.0 bn | SEC (XBRL)· 19 Aug 2026verified |
| Current assets | 9.8 bn | 9.3 bn | 9.1 bn | 7.9 bn | 7.1 bn | 7.6 bn | SEC (XBRL)· 19 Aug 2026verified |
| Property, plant & equipment, net | 2.3 bn | 2.7 bn | 3.2 bn | 3.1 bn | 3.2 bn | 2.8 bn | SEC (XBRL)· 19 Aug 2026verified |
| Goodwill | 2.6 bn | 2.5 bn | 2.5 bn | 2.1 bn | 2.1 bn | 2.1 bn | SEC (XBRL)· 19 Aug 2026verified |
| Intangibles (excl. goodwill) | 4.1 bn | 3.4 bn | 5.6 bn | 5.2 bn | 3.8 bn | 3.6 bn | SEC (XBRL)· 19 Aug 2026verified |
| Total assets | 22.0 bn | 20.9 bn | 23.4 bn | 21.7 bn | 19.9 bn | 19.8 bn | SEC (XBRL)· 19 Aug 2026verified |
| Short-term debt | 32.0 m | 268.0 m | 997.0 m | 504.0 m | 3.0 m | 503.0 m | SEC (XBRL)· 19 Aug 2026verified |
| Current liabilities | 5.3 bn | 5.8 bn | 6.2 bn | 5.7 bn | 5.4 bn | 6.2 bn | SEC (XBRL)· 19 Aug 2026verified |
| Equity | 6.1 bn | 5.6 bn | 5.6 bn | 5.3 bn | 3.9 bn | 3.8 bn | SEC (XBRL)· 19 Aug 2026verified |
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 3.6 bn | 3.0 bn | 1.7 bn | 2.4 bn | 1.3 bn | 1.8 bn | SEC (XBRL)· 19 Aug 2026verified |
| Capex | 637.0 m | 1.0 bn | 1.0 bn | 919.0 m | 602.0 m | 457.0 m | SEC (XBRL)· 19 Aug 2026verified |
| Free cash flow | 3.0 bn ≈ | 2.0 bn ≈ | 728.0 m ≈ | 1.4 bn ≈ | 670.0 m ≈ | 1.3 bn ≈ | SEC (XBRL)· 19 Aug 2026derived |
| Investing cash flow | -1.9 bn | -945.0 m | -3.2 bn | -960.0 m | -623.0 m | -489.0 m | SEC (XBRL)· 19 Aug 2026verified |
| Financing cash flow | -1.9 bn | -3.0 bn | 1.6 bn | -2.0 bn | -1.1 bn | -712.0 m | SEC (XBRL)· 19 Aug 2026verified |
| Dividends paid | 753.0 m | 840.0 m | 925.0 m | 947.0 m | 618.0 m | 508.0 m | SEC (XBRL)· 19 Aug 2026verified |
| Share repurchases | 733.0 m | 2.3 bn | 271.0 m | 35.0 m | 35.0 m | 70.0 m | SEC (XBRL)· 19 Aug 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 54.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
Score by group
54% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 12.82 – 24.74 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E12.82 – 21.96 (Mid 16.73)5 companies used · median multiple 16.7x · quartiles 12.8x – 21.9xAXIL, IPAR, KVUE, ODD, UG
- Dividend discount (DDM)18.40 – 24.74 (Mid 21.10)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 54.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 2.4% | 47 (vs peers) | 12% |
| FCF conversion · Quality | 412.2% | 100 (on a fixed band) | 12% |
| Revenue CAGR 3Y · Growth | -1.8% | 0 (on a fixed band) | 15% |
| EPS CAGR 3Y · Growth | -43.6% | 0 (on a fixed band) | 15% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 3.1x | 24 (on a fixed band) | 12% |
| Current ratio · Balance sheet | 1.3x | 38 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | 111.7x | 14 (vs peers) | 19% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | 33.4% | 100 (on a fixed band) | 8% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet30/100 · 2/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality73/100 · 2/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation· partial14/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Estee Lauder Companies Inc (EL). Latest full fiscal year: 2026; data up to 2026-09-30.
Figures computed from the financial statements: revenue 15.0 bn USD in 2026; YoY growth 5.0%; net margin 2.4%; ROE 9.3%.
The estimated value range is 15.61–23.35 USD per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 18.91 USD, the price of 112.04 USD leaves a potential of -83.1% (value / price − 1) and a margin of safety of -492.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 54.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 412.2%
- Payout ratio (FCF): 33.4%
What contradicts it
- Revenue CAGR 3Y: -1.8%
- EPS CAGR 3Y: -43.6%
- Interest coverage: 3.1x
- P/E (TTM): 111.7x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, EV/EBITDA, FCF yield, Shareholder yield (distributions).
Versus the vertical median
Perfumes, Cosmetics & Other Toilet Preparations (SIC 2844) · same industry (4-digit SIC) · compared with 15 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| CLColgate-Palmolive Company | 78.5 bn | 38.7 | 358.9% | 9.6% | +1.4% | +23% / +25% |
| KVUEKenvue Inc. | 37.1 bn | 21.9 | 16.3% | 10.9% | −2.1% | +34% / +4% |
| ELFe.l.f. Beauty, Inc. | 6.7 bn | 113.6 | 6.0% | 3.4% | +24.6% | +49% / −4% |
| IPARInterparfums, Inc. | 4.0 bn | 23.3 | 19.5% | 11.3% | +2.5% | +52% / −1% |
| COTYCoty Inc. | 3.1 bn | — | -18.5% | -10.4% | −1.5% | +5% / −70% |
| EPCEdgewell Personal Care Company | 1.4 bn | — | -6.2% | -4.2% | −1.3% | +66% / −15% |
| SLSNSolesence, Inc. | 64.6 m | — | -15.1% | -3.8% | +18.6% | −60% / +22% |
| AXILAxil Brands, Inc. | 38.2 m | 16.7 | 23.3% | 9.3% | +17.5% | +10% / unavailable |
| UGUnited-Guardian, Inc. | 31.5 m | 12.8 | 21.4% | 22.0% | −13.4% | +18% / −16% |
| CABRCaring Brands, Inc. | 9.3 m | — | -3,889.1% | -183,298.7% | unavailable | −13% / unavailable |
| BNKKBonk, Inc. | 9.3 m | — | -332.4% | -2,330.4% | +201.6% | −82% / −99% |
| YCBDcbdMD, Inc. | 4.5 m | — | -40.3% | -13.8% | −1.5% | −34% / −93% |
| ELEstee Lauder Companies Inc | — | 111.7 | 9.3% | 2.4% | +5.0% | +21% / +1% |
| ODDOddity Tech Ltd | — | 12.0 | 32.6% | 13.7% | +25.2% | −50% / −37% |
| HLNHaleon plc | — | — | 10.2% | 15.1% | −1.8% | −6% / +8% |
| YSGYatsen Holding Limited | — | — | -2.7% | -1.9% | +32.2% | −67% / −49% |
1- and 3-year price returns: for EL from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 19 Aug 2026; since then the company filed 8-K (02 Nov 2026 · results), 10-Q (02 Nov 2026).
In brief
The Estée Lauder Companies is one of the world's leading makers and sellers of luxury and prestige beauty products, with brands such as Estée Lauder, La Mer, M·A·C and Jo Malone London. Sales returned to growth in fiscal 2026 and adjusted operating margin improved significantly under the 'Beauty Reimagined' strategy.12
SWOT
Strengths
- A diversified portfolio of luxury and prestige brands, with several brands passing the one billion dollar sales mark in fiscal 2026 2.
- Wide global presence across hundreds of markets, with a network of company-owned stores and partnerships with leading retailers 1.
- Improved margins and cash flow, supported by the profit recovery program and operational discipline 2.
Weaknesses
- Dependence on a few key retailers, whose financial difficulties could affect the company's collections 1.
- Volatile operating results in earlier years, including asset impairments and significant restructuring charges 1.
- Family control and concentrated voting power could limit the influence of minority shareholders on strategic decisions 1.
Opportunities
- Expansion into fast-growing categories such as fragrance and into online and freestanding channels, seen as long-term growth areas 1.
- Growth in the United States and emerging markets, if the regional strategy delivers results 2.
- Innovation and the use of artificial intelligence could improve efficiency and consumer engagement 1.
Risks
- Intense competitionhigh
Larger or more agile competitors could erode the company's market share, especially in channels where it is less represented.1
- Trade tariffshigh
Tariffs imposed in the United States and other markets could reduce profitability and cash flow, depending on actual rates and countries involved.1
- Talc litigation and regulationmedium
Proceedings related to talc products have already generated charges, and future obligations could be significant if new claims are filed.2
- Dependence on retailersmedium
Financial difficulties at major retailers could affect collections and reduce access to certain distribution channels.1
- Artificial intelligence riskslow
Use of artificial intelligence could create privacy, accuracy or reputational issues, and evolving regulation could add compliance costs.1
Investment thesis
What would need to be true (bull case)
- The return to organic growth and the expansion of adjusted operating margin could support continued improvement in results if the 'Beauty Reimagined' strategy keeps delivering.2
- Fast-growing luxury brands such as Jo Malone London and TOM FORD could keep contributing to sales, and share gains in China and Japan could strengthen the company's position.2
- Higher free cash flow could give the company flexibility to invest in consumer-facing activities and pursue strategic acquisitions.2
What would break the thesis
- Intense competition and pressure from new independent brands could limit growth and require additional promotional spending.1
- Tariffs and trade uncertainty could reduce margins in the coming years, especially if refunds do not offset the costs.12
- Restructuring and litigation costs weighed on past results, and similar charges could recur.12
What to watch
- Evolution of organic sales growth and adjusted operating margin against the fiscal 2027 outlook2027
- Impact of tariffs and IEEPA refunds on cost of salesnext 10-K
- Performance in the United States and Mainland China marketsQ1 2027
- Development of talc litigation and any new claimsnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 19 Aug 2026; since then the company filed 8-K (02 Nov 2026 · results), 10-Q (02 Nov 2026).
The business
Founded in 1946, the company makes and sells skin care, makeup, fragrance and hair care under more than 20 luxury and prestige brands sold in about 150 countries and territories.1 It operates as a wholesaler through department stores, duty-free retailers, perfumeries and e-commerce platforms, and also runs a direct-to-consumer business with approximately 1,600 freestanding stores as of June 30, 2026.1 The Lauder family controls the company, with approximately 82% of the outstanding voting power.1
The 'Beauty Reimagined' strategic vision, launched in February 2025, focuses on consumer coverage, innovation, consumer-facing investment and efficiencies, supported by the 'One ELC' operating model that simplifies the organization.1 From July 1, 2025 the company reports four geographic regions: The Americas, EUKEM, Asia/Pacific and Mainland China.1
In fiscal 2026 net sales were 15,049 million USD, up 5% from the prior year, with organic growth of 3%.2 Gross margin rose to 75.5%, and free cash flow reached 1.32 billion USD compared with 0.67 billion in the prior year.2
Segments
Market context
The prestige beauty market combines the repeat purchase and relative affordability of consumer goods with high quality products, and the company is active in more than 150 countries.1 Mainland China generated 3,058 million USD in fiscal 2026 and is one of the company's most important markets.1
The company identifies priority emerging markets such as Brazil, Mexico and India for expansion; its growth could depend on recovery in Western markets where it still faces difficulties in Western Europe and the United States.1
Trends
- Tariffsheadwind
US tariffs raised costs and created volatility; the company anticipates an adverse effect on fiscal 2027 profitability, although IEEPA refunds partly offset the impact in fiscal 2026.12
- Prestige growth in Chinatailwind
The company gained value share in Mainland China and Japan, and its brands ranked first in key online shopping moments in China.2
- E-commerce and social mediamixed
Sales on platforms such as Amazon and TikTok Shop expanded, and consumer preferences shift quickly under social media influence, which could favor brands that adapt fast.12
- Decline in department store trafficheadwind
In the United States there has been a longer-term decline in retail traffic in department stores, which could increase dependence on a few key retailers.1
Competitive position
The market is highly competitive, with large multinational companies and newer independent brands, some backed by private-equity investors, competing in channels where the company is less represented.1 Some competitors have greater resources, and key retailers sell rival brands.1
Competition is based on pricing, innovation, perceived value, consumer service, promotion and e-commerce, including the use of artificial intelligence and data analytics.1
- Other multinational beauty companies
Large consumer product companies that compete directly in skin care, makeup and fragrance, referred to generically in the official filing.
- Indie Brands
Newer companies, some backed by private-equity investors, that gain share through alternative channels.
- Retailers that sell competing brands
Some of the company's largest customers also sell rival brands, which creates competitive pressure.
- Prestige competitors with greater resources
Competitors with larger resources are mentioned without names in the source, and competition in prestige channels remains intense.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Estée Lauder (EL) Partners with University of Leeds to Address Shade-Matching ChallengesYahoo Finance — News · 17 Sept 2026 · EN
- How Is Estée Lauder's Stock Performance Compared to Other Consumer Staples Stocks?Yahoo Finance — News · 09 Sept 2026 · EN
- Estée Lauder își mută sediul pe un nou etaj în SkyTowerEconomedia · 03 Sept 2026 · RO
- Estée Lauder, unul dintre cei mai mari jucători din piaţa de beauty, îşi menţine birourile în SkyTower: compania semnează cu RPHI a treia prelungire a contractului de închiriereZiarul Financiar · 03 Sept 2026 · RO
- Estée Lauder (EL)’s China Bet Just Paid Off. Its Makeup Business Still Hasn’t Caught UpYahoo Finance — News · 28 Aug 2026 · EN
- Estée Lauder’s (EL) Turnaround Story Just Got Real Numbers Behind ItYahoo Finance — News · 27 Aug 2026 · EN
- Estée Lauder (EL) Q4 2026 Earnings Call TranscriptYahoo Finance — News · 26 Aug 2026 · EN
- Estée Lauder CEO Says Company Has 'Great Momentum'Bloomberg Markets · 19 Aug 2026 · EN
- Estée Lauder Discloses Impact From Oracle EBS Zero-Day HackSecurityWeek · 21 Jul 2026 · RO
- Estée Lauder discloses data breach via Oracle E-Business flawBleepingComputer · 20 Jul 2026 · RO
- Estée Lauder surges in premarket after Puig merger deal talks endCNBC World · 22 May 2026 · EN
- Estée Lauder ends merger talks with Gaultier owner PuigThe Guardian World · 22 May 2026 · RO
- Discuţiile pentru colosul de 40 mld. dolari de fashion şi beauty au eşuat: Gigantul american Estée Lauder a pus capăt negocierilor de fuziune cu rivalul spaniol PuigZiarul Financiar · 22 May 2026 · RO
- Ultimul act - gigantul american Estée Lauder a pus lacătul pe centrul de tehnologie din România, care a căzut victimă planului de restructurare cu numele de cod „Frumuseţea reimaginată“. La vârful activităţii centrul avea 149 de angajaţi. Planul iniţial al americanilor era să ajungă la peste 400 de angajaţi în centrul tehnologic de la BucureştiZiarul Financiar · 15 May 2026 · RO
The latest news item in our archive is from 17 Sept 2026; the newest SEC filing is from 04 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report04 Nov 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report02 Nov 2026
- Current report02 Nov 2026Results of operations · Financial statements and exhibits
- Proxy statement30 Sept 2026
- Current report08 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Annual report19 Aug 2026
- Current report19 Aug 2026Results of operations · Financial statements and exhibits
- Current report24 Jul 2026Departure or appointment of officers · Financial statements and exhibits
- Current report (amendment)07 Jul 2026Exit or disposal costs · Financial statements and exhibits
- Current report (amendment)03 Jun 2026Exit or disposal costs · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2026-06-30 · SEC / The Estée Lauder Companies Inc. · 19 Aug 2026
- [2] Form 8-K, results release (exhibit 99.1) · SEC / The Estée Lauder Companies Inc. · 19 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.