<p>当谈到美容行业的股票时，许多人口中的第一个名字现在是 Ulta（纳斯达克股票代码：ULTA）。最近曝光，传奇投资者沃伦·巴菲特通过其公司伯克希尔·哈撒韦（纽约证券交易所股票代码：BRK.B）购买了 Ulta 的股份。可以理解的是，伯克希尔的新持仓经常会引起关注。然而，有另一家美容股被华尔街分析师认为具有更大的上涨空间。</p>
<p>那只股票就是 e.l.f. Beauty（纽约证券交易所股票代码：ELF）。该股票的平均目标价接近 210 美元。这意味着与当前水平相比，潜在上涨空间约为 86%。相比之下，Ulta 的平均目标价仅表明上涨空间为 2%。</p>
<p>获取 <strong>e.l.f. Beauty</strong> 警报：</p>
<p>然而，仅看这些数字只是需要考虑的相关数据之一。我将审查这家消费品公司的运营情况，并就其与 Ulta 的区别提供一些见解。我将研究公司最近财务状况的趋势，并详细介绍公司的机遇和挑战。</p>
<h2><strong>e.l.f. Beauty：高档产品折扣销售</strong></h2>
<p>考虑到 e.l.f.对客户的价值主张，归结为两点：质量和价格实惠。该公司自豪地销售高质量的化妆品，价格低于竞争对手。</p>
<p>在其年度报告中，该公司表示其 e.l.f. Cosmetics 产品的平均售价约为 6 美元。这与其他化妆品品牌的售价在 9 美元至 20 美元之间相比。该公司还强调其产品是纯素和无残忍。</p>
<p>这是另一个区别点，因为许多大型化妆品公司并不宣称这一称号，使得 e.l.f.能够吸引那些这一问题很重要的客户。尤其是对年轻一代来说，这可能是一个重要的竞争优势。</p>
<p>英国平台 UNiDAYS 进行的一项调查发现，43% 的 Z 代客户从不购买经过动物测试的美容产品。</p>
<p>e.l.f. 与 Ulta 是两家截然不同的企业。e.l.f. 是一个化妆品品牌，而 Ulta 是一个零售连锁店，可以购买 e.l.f. 产品。事实上，Ulta 是 e.l.f. 最大的客户之一，在上一个财政年度占公司总收入的 16%。</p>
<h2><strong>财务状况良好：盈利增长和市场份额增加</strong></h2>
<p>在过去几年中，该公司实现了令人印象深刻的营收增长和盈利能力提升。自 2022 年 6 月以来，季度总收入几乎翻了两番。上个季度，收入较去年同期增长了 50%。</p>
<p>尽管这令人印象深刻，但与最近结果之前五个季度超过 70% 的收入增长相比，这显著低于那个水平。该公司已连续实现了 22 个季度的销售增长，这是另一个值得称赞的成就。</p>
<p>过去十二个月的营运利润率比两年前高出数百个基点；然而，与 2023 年 9 月达到的峰值水平相比，已下降了 400 至 500 个基点。然而，毛利率持续增加，没有出现显著下降。</p>
<p>此外，该公司正在从该领域的大公司中夺取市场份额。上个季度，其彩妆产品的消费量增加了 26%，而行业则下降了 1%。</p>
<h2><strong>国际版图的利弊</strong></h2>
<p>国际扩张是该公司有重要机会重新点燃增长至更高水平的领域之一。国际收入仅占公司总收入的 16%，而主要上市竞争对手占比达 70%。</p>
<p>该公司正在进军德国，这是欧洲最大的化妆品市场，在那里将进驻 1,500 家 Rossmann 商店。由于欧洲对动物测试的禁令，该大陆 “主导了纯素化妆品市场”，2022 年占行业收入的 34%。</p>
<p>e.l.f. 确实存在重要的机会，但也存在风险。其中一个是关税，因为该公司约 80% 的生产来自中国。首席执行官 Tarang Amin 表示，关税高达 60% 的传言不绝于耳。公司整体较低的价格点将使其能够在潜在关税的情况下保持竞争力，但这可能会侵蚀利润率。然而，目前还没有确凿的依据。</p>
<p>该公司的估值也较高。其 32 倍的前瞻市盈率是美国和欧洲个人护理产品股票中最高的，市值超过 20 亿美元。另一个重要的潜在利好是可能出现的降息政策。大多数人预计美联储将在下次会议上降息。如果此后继续降息，像 e.l.f. 这样的公司最终将受益，因为消费者感受到的财务压力会减轻。</p>
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<h2>您现在是否应该投资 1,000 美元购买 e.l.f. Beauty？</h2>
<p>在考虑购买 e.l.f. Beauty 之前，您可能想听听这个。</p>
<p>MarketBeat 持续追踪华尔街评级最高且表现最佳的研究分析师以及他们每天向客户推荐的股票。MarketBeat 已确定了五只顶级分析师悄悄告诉客户在更广泛市场注意之前购买的股票... 而 e.l.f. Beauty 不在名单上。</p>
<p>尽管 e.l.f. Beauty 目前在分析师中有 “买入” 评级，但顶级分析师认为这五只股票更值得购买。</p>
<p>查看这五只股票</p>

<p>e.l.f. Beauty 正在经历快速增长和稳固盈利，华尔街分析师预计其股票有 86% 的上涨潜力。该公司通过提供高质量、纯素和无残忍化妆品，以比竞争对手更低的价格来区别于其他公司。e.l.f. 已连续实现了 22 个季度的销售增长，并正在国际市场扩张，特别是在德国。然而，风险包括对中国生产可能征收的关税以及高估值，其 32 倍的前瞻市盈率。该公司可能会受益于预期的美联储降息，缓解消费者的财务压力</p>

<p>When it comes to stocks in the beauty industry, the first name on the lips of many right now is Ulta NASDAQ: ULTA. It was recently revealed that legendary investor Warren Buffett purchased shares of Ulta through his company Berkshire Hathaway NYSE: BRK.B. Understandably, buzz often circulates around Berkshire’s new positions. However, there is another beauty stock that Wall Street analysts see as having a significantly higher upside.</p>
<div class="lb-trans"><p>当谈到美容行业的股票时，许多人口中的第一个名字现在是 Ulta（纳斯达克股票代码：ULTA）。最近曝光，传奇投资者沃伦·巴菲特通过其公司伯克希尔·哈撒韦（纽约证券交易所股票代码：BRK.B）购买了 Ulta 的股份。可以理解的是，伯克希尔的新持仓经常会引起关注。然而，有另一家美容股被华尔街分析师认为具有更大的上涨空间。</p>
</div><p>That stock is e.l.f. Beauty NYSE: ELF. The average price target for the stock is nearly $210. This implies a potential upside of around 86% from current levels. In comparison, the average price target for Ulta signals an upside of just 2%.</p>
<div class="lb-trans"><p>那只股票就是 e.l.f. Beauty（纽约证券交易所股票代码：ELF）。该股票的平均目标价接近 210 美元。这意味着与当前水平相比，潜在上涨空间约为 86%。相比之下，Ulta 的平均目标价仅表明上涨空间为 2%。</p>
</div><p>Get <strong>e.l.f. Beauty</strong> alerts:</p>
<div class="lb-trans"><p>获取 <strong>e.l.f. Beauty</strong> 警报：</p>
</div><p>However, looking at these figures is only one piece of relevant data to consider. I’ll examine the operations of the consumer staples company and provide some insight on how it differs from Ulta. I’ll look at the trends in the firm’s recent financial and detail the company’s opportunities and challenges.</p>
<div class="lb-trans"><p>然而，仅看这些数字只是需要考虑的相关数据之一。我将审查这家消费品公司的运营情况，并就其与 Ulta 的区别提供一些见解。我将研究公司最近财务状况的趋势，并详细介绍公司的机遇和挑战。</p>
</div><h2><strong>e.l.f. Beauty: Prestige Grade Products at a Discount</strong></h2>
<div class="lb-trans"><h2><strong>e.l.f. Beauty：高档产品折扣销售</strong></h2>
</div><p>Thinking about e.l.f.’s value proposition for customers, it comes down to two things: quality and affordability. The company prides itself on selling high-quality cosmetics at a price lower than its competition.</p>
<div class="lb-trans"><p>考虑到 e.l.f.对客户的价值主张，归结为两点：质量和价格实惠。该公司自豪地销售高质量的化妆品，价格低于竞争对手。</p>
</div><p>In its annual report, the company states its e.l.f. Cosmetics products have an average price point of approximately $6. This is in comparison to between $9 and $20 for other cosmetics brands. The company also emphasizes that its products are vegan and cruelty-free.</p>
<div class="lb-trans"><p>在其年度报告中，该公司表示其 e.l.f. Cosmetics 产品的平均售价约为 6 美元。这与其他化妆品品牌的售价在 9 美元至 20 美元之间相比。该公司还强调其产品是纯素和无残忍。</p>
</div><p>This is another differentiator, as many of the large cosmetics companies don’t claim this moniker, allowing e.l.f. to attract customers for whom this is an important issue. This may be a significant competitive advantage, especially with the younger generation.</p>
<div class="lb-trans"><p>这是另一个区别点，因为许多大型化妆品公司并不宣称这一称号，使得 e.l.f.能够吸引那些这一问题很重要的客户。尤其是对年轻一代来说，这可能是一个重要的竞争优势。</p>
</div><p>A survey by UNiDAYS, a British platform where college students can get discounts on various products, found that 43% of Gen Z customers never buy beauty products tested on animals.</p>
<div class="lb-trans"><p>英国平台 UNiDAYS 进行的一项调查发现，43% 的 Z 代客户从不购买经过动物测试的美容产品。</p>
</div><p>e.l.f. is a significantly different business from Ulta. e.l.f. is a cosmetics brand, while Ulta is a retail chain where one can buy e.l.f. products. In fact, Ulta is one of e.l.f.’s largest customers, accounting for 16% of the firm’s total revenue in the last fiscal year.</p>
<div class="lb-trans"><p>e.l.f. 与 Ulta 是两家截然不同的企业。e.l.f. 是一个化妆品品牌，而 Ulta 是一个零售连锁店，可以购买 e.l.f. 产品。事实上，Ulta 是 e.l.f. 最大的客户之一，在上一个财政年度占公司总收入的 16%。</p>
</div><h2><strong>A Pretty Financial Picture: Profitable Growth and Increasing Market Share</strong></h2>
<div class="lb-trans"><h2><strong>财务状况良好：盈利增长和市场份额增加</strong></h2>
</div><p>Over the last few years, the company has achieved impressive revenue growth and increased profitability. Total quarterly revenue has nearly tripled since Jun. 2022. Last quarter, revenue grew 50% from the previous year.</p>
<div class="lb-trans"><p>在过去几年中，该公司实现了令人印象深刻的营收增长和盈利能力提升。自 2022 年 6 月以来，季度总收入几乎翻了两番。上个季度，收入较去年同期增长了 50%。</p>
</div><p>Although this is impressive, it is significantly below the over 70% revenue growth seen in the five quarters prior to the most recent results. The company has achieved 22 consecutive quarters of sales growth, another praiseworthy feat.</p>
<div class="lb-trans"><p>尽管这令人印象深刻，但与最近结果之前五个季度超过 70% 的收入增长相比，这显著低于那个水平。该公司已连续实现了 22 个季度的销售增长，这是另一个值得称赞的成就。</p>
</div><p>The operating margin for the last twelve months is several hundred basis points higher than two years ago; however, it has dropped 400 to 500 basis points from the peak levels achieved in Sept. 2023. However, the gross margin has continued to increase, showing no significant drop-off.</p>
<div class="lb-trans"><p>过去十二个月的营运利润率比两年前高出数百个基点；然而，与 2023 年 9 月达到的峰值水平相比，已下降了 400 至 500 个基点。然而，毛利率持续增加，没有出现显著下降。</p>
</div><p>Additionally, the company is taking market share from big players in the space. Consumption of its color cosmetics products increased by 26% last quarter, compared to a decrease of 1% for the industry.</p>
<div class="lb-trans"><p>此外，该公司正在从该领域的大公司中夺取市场份额。上个季度，其彩妆产品的消费量增加了 26%，而行业则下降了 1%。</p>
</div><h2><strong>An International Footprint Can Cut Both Ways</strong></h2>
<div class="lb-trans"><h2><strong>国际版图的利弊</strong></h2>
</div><p>International expansion is one area where the firm has a significant opportunity to reignite growth to those higher levels. International revenue only makes up 16% of the firm's total revenue, compared to 70% for major public competitors.</p>
<div class="lb-trans"><p>国际扩张是该公司有重要机会重新点燃增长至更高水平的领域之一。国际收入仅占公司总收入的 16%，而主要上市竞争对手占比达 70%。</p>
</div><p>The company is expanding into Germany, the largest cosmetics market in Europe, where it will be in 1,500 Rossmann stores. Due to bans in Europe around animal testing, the continent “dominates the vegan cosmetics market,&#34; accounting for 34% of industry revenue in 2022.</p>
<div class="lb-trans"><p>该公司正在进军德国，这是欧洲最大的化妆品市场，在那里将进驻 1,500 家 Rossmann 商店。由于欧洲对动物测试的禁令，该大陆 “主导了纯素化妆品市场”，2022 年占行业收入的 34%。</p>
</div><p>There certainly are significant opportunities for e.l.f., but there are also risks. One is tariffs, as around 80% of the company’s production comes from China. CEO Tarang Amin said tariffs as high as 60% have been rumored. The company’s overall lower price point would allow it to stay competitive despite potential tariffs, but they would likely eat into margins. Still, there is nothing concrete to go off here yet.</p>
<div class="lb-trans"><p>e.l.f. 确实存在重要的机会，但也存在风险。其中一个是关税，因为该公司约 80% 的生产来自中国。首席执行官 Tarang Amin 表示，关税高达 60% 的传言不绝于耳。公司整体较低的价格点将使其能够在潜在关税的情况下保持竞争力，但这可能会侵蚀利润率。然而，目前还没有确凿的依据。</p>
</div><p>The company’s valuation is also elevated. Its 32x forward P/E ratio is the highest among U.S. and European personal care product stocks, with market caps of over $2 billion. Another important potential tailwind to mention is the possibility of a rate-cut regime. Most expect the Federal Reserve to cut rates at its next meeting. If rate cuts continue after that, firms like e.l.f. should eventually benefit as the consumers feel less financial pressure.</p>
<div class="lb-trans"><p>该公司的估值也较高。其 32 倍的前瞻市盈率是美国和欧洲个人护理产品股票中最高的，市值超过 20 亿美元。另一个重要的潜在利好是可能出现的降息政策。大多数人预计美联储将在下次会议上降息。如果此后继续降息，像 e.l.f. 这样的公司最终将受益，因为消费者感受到的财务压力会减轻。</p>
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<h2>Should you invest $1,000 in e.l.f. Beauty right now?</h2>
<div class="lb-trans"><h2>您现在是否应该投资 1,000 美元购买 e.l.f. Beauty？</h2>
</div><p>Before you consider e.l.f. Beauty, you'll want to hear this.</p>
<div class="lb-trans"><p>在考虑购买 e.l.f. Beauty 之前，您可能想听听这个。</p>
</div><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and e.l.f. Beauty wasn't on the list.</p>
<div class="lb-trans"><p>MarketBeat 持续追踪华尔街评级最高且表现最佳的研究分析师以及他们每天向客户推荐的股票。MarketBeat 已确定了五只顶级分析师悄悄告诉客户在更广泛市场注意之前购买的股票... 而 e.l.f. Beauty 不在名单上。</p>
</div><p>While e.l.f. Beauty currently has a &#34;Buy&#34; rating among analysts, top-rated analysts believe these five stocks are better buys.</p>
<div class="lb-trans"><p>尽管 e.l.f. Beauty 目前在分析师中有 “买入” 评级，但顶级分析师认为这五只股票更值得购买。</p>
</div><p>View The Five Stocks Here</p>
<div class="lb-trans"><p>查看这五只股票</p>
</div>

ELF Beauty：你不容忽视的高增长股票