ELNYSEPerfumes, Cosmetics & Other Toilet PreparationsUS GAAP · USD

The Estee Lauder Companies, Inc

The Estée Lauder Companies makes and markets prestige beauty products across skin care, makeup, fragrance and hair care. Built around more than 20 luxury and prestige brands, it sells through department stores, specialty retailers, duty-free, e-commerce and its own direct-to-consumer channels in roughly 150 countries and territories.

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Revenue15.0bn USD
+5.0 %y/y
Operating profit (EBIT)780m USD
+199.4 %y/y
EBIT margin5.2%
+10.7 ppy/y
Net income182m USD
+116.1 %y/y
Free cash flow1,316m USD
+96.4 %y/y

Fiscal year 2026 · change from previous year

Development 2021–2026

-505101520bn USD2021: 16.2 bn USD2021: EBIT 2.6 bn USD20212022: 17.7 bn USD2022: EBIT 3.2 bn USD20222023: 15.9 bn USD2023: EBIT 1.5 bn USD20232024: 15.6 bn USD2024: EBIT 0.97 bn USD20242025: 14.3 bn USD2025: EBIT -0.79 bn USD20252026: 15.0 bn USD2026: EBIT 0.78 bn USD202615.00.78
RevenueOperating profit (EBIT)
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Business

Share of revenue
Skin Care38 %

Moisturizers, serums, cleansers, toners, eye care, masks and sun care.

Makeup27 %

Face, eye, lip and complexion cosmetics sold under prestige brands.

Fragrance22 %

Prestige perfumes and colognes across luxury and designer brands.

Hair Care8 %

Hair care products sold through retail and salon channels.

Other and Royalty Revenue5 %

Royalty income and products or services not classified in core categories.

Customers

The company sells to prestige beauty consumers who buy for brand, efficacy, and experience, often through premium retail environments or directly from brand channels. Its customers also include retailers and channel partners such as department stores, duty-free operators, specialty-multi retailers, pharmacies, online pure players, and salons/spas that stock and promote the brands. Demand is driven by new product launches, merchandising, sampling, and the strength of brand equity across luxury and prestige segments.

Prestige beauty consumers

End consumers buying premium skin care, makeup, fragrance and hair care for brand, quality and performance.

Department stores and luxury retailers

Retail partners that buy wholesale inventory and provide premium shelf space, counters and services.

Duty-free and travel retail operators

Travel-channel buyers that stock prestige beauty for airport and cross-border shoppers.

Specialty-multi retailers and pharmacies

Beauty-focused chains that buy for broad consumer reach and category assortment.

Digital and direct-to-consumer shoppers

Consumers purchasing through brand websites, freestanding stores and third-party online platforms.

Strategy

Management's current strategy centers on “Beauty Reimagined,” which aims to broaden consumer coverage, accelerate innovation, increase consumer-facing investment and improve efficiency. The company is also expanding its Profit Recovery and Growth Plan to support margin recovery and reallocate resources toward the brands, channels and markets with the strongest long-term potential.

Beauty Reimagined transformationShort term

It is the company's main operating reset to improve growth, coverage and execution.

Profit Recovery and Growth PlanMedium term

Efficiency actions are intended to restore profitability and fund reinvestment.

Channel and geographic mix optimizationMedium term

Prestige beauty demand varies by channel and region, so mix affects growth and margin.

Geography

The company has a global footprint, with consumer reach in about 150 countries and territories and offices in more than 50 countries. Reported sales are organized around the Americas, Europe/UK/Ireland/Emerging Markets, Asia/Pacific and Mainland China, showing meaningful exposure to travel retail and Asia demand. Its global manufacturing, warehousing and distribution network also creates foreign-currency and supply-chain exposure across multiple regions.

Risks

The business is exposed to intense competition, retailer consolidation, and shifts in consumer preferences, all of which can pressure sell-through and pricing. Because it manufactures and distributes globally, it also faces supply-chain disruption, foreign exchange volatility, trade policy changes, and geopolitical or regulatory risks across multiple markets. Brand reputation, product quality, and successful launches are especially important in prestige beauty, where demand can change quickly.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Competitive pressure in prestige beauty1Supply-chain and manufacturing disruption2Foreign currency volatility3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Competitive pressure in prestige beautyImpact: HighLikelihood: Medium

    Consumers can switch brands based on innovation, price, distribution and marketing.

    ExposureSkin careMakeupFragranceHair care across all channels
  2. Supply-chain and manufacturing disruptionImpact: HighLikelihood: Medium

    The company relies on global suppliers and production/distribution sites for inventory flow.

    ExposureIngredientPackagingLogistics availability
  3. Foreign currency volatilityImpact: HighLikelihood: Medium

    A substantial majority of sales and operating income are generated outside the U.S.

    ExposureReported revenueMarginsForeign asset values
  4. Retail channel consolidation and destockingImpact: Medium

    Fewer, larger retailers can reduce bargaining power and order stability.

    Exposure: Wholesale accounts and receivables

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Accounting

Judgemental items
Goodwill and indefinite-lived intangible asset impairment

Brand and acquisition values depend on future cash flows and market assumptions.

Impact: Can create large non-cash charges and reduce reported earnings

Income taxes

Tax provisions rely on estimates, jurisdiction mix and valuation allowances.

Impact: Affects net income and effective tax rate

Restructuring and other activities

PRGP and related actions create charges that distort period-to-period comparability.

Impact: Impacts operating income and adjusted performance measures

Foreign currency translation

A large share of sales is generated outside the U.S., so FX moves reported results.

Impact: Affects revenue growth, margins and constant-currency comparisons

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Last updated: 24/09/2026

The Estee Lauder Companies, Inc (EL) Revenue, Earnings & Financials 2026 – Clarifo