ELLuxury beauty & personal care
Estée Lauder
Not investment advice. Kevin may own this stock. How we value stocks
By Kevin Amado
Updated
- Price
- $112.33
- Analysts view
- Leaning bullish
- Discount category
- Close to intrinsic value
- Pick status
- Research only
- Next earnings
- Earnings Feb 4 · · estimated
- Market cap
- $41B
- Shares of Oct 26, 2026
- Yield at current rate
- 1.2%
- Current annual rate, at the price of Nov 12, 2026
- Dividend yield
- 1.2%
- Last 12 months, at the price of Nov 12, 2026
- P/E (trailing)
- 111.2
- Price of Nov 12, 2026
- EPS (trailing)
- $1.01
- 12 months to Sep 30, 2026
- 52-week range
- $66.22 – $121.64
- To Nov 12, 2026
- Beta
- 1.22
- Vs S&P 500, 5 years monthly, to Oct 30, 2026
- Average volume
- 3.6M
- 3 months, to Nov 12, 2026
Check the numbers:ExchangeGoogle FinanceYahoo FinanceSEC filings
In short
- Thesis
- The market doubts that Estée Lauder can keep its profit recovery going after a weak period, and sales growth with the margin gains that it targets for fiscal 2030 can lift its value.
- Gap
- Can close. The Q2 fiscal 2027 report in February 2027 shows whether the margin gains and the raised outlook hold.
Company guidance: Fiscal 2027 adjusted EPS $3.20 to $3.45, organic sales growth 4.0% to 5.5%, adjusted operating margin 12.9% to 13.7% (, Q1 fiscal 2027 results (8-K))
Price history
About
The Estée Lauder Companies Inc. (Estée Lauder) is a New York company that makes and sells prestige beauty products. Its categories are skin care, makeup, fragrance and hair care. Its brands include Estée Lauder, Clinique, M·A·C, La Mer, Aveda, Jo Malone London, TOM FORD, Le Labo, The Ordinary and Bumble and bumble. Net sales were $3,715 million in the first quarter of fiscal 2027, which ended on September 30, 2026.
Skin care was $1,651 million, makeup $1,048 million, fragrance $861 million and hair care $128 million. Mainland China sales were $614 million. The company sells through department stores, specialty stores, travel retail, its own stores and online. Stéphane de La Faverie is President and Chief Executive Officer, and Akhil Shrivastava is Chief Financial Officer.
On October 26, 2026, 247,823,116 Class A shares and 114,507,344 Class B shares were outstanding. The Class A shares trade on the NYSE in US dollars. The fiscal year ends on June 30.
Thesis
The market prices Estée Lauder as a beauty company that is still repairing its profit after a weak period, and it asks if the recovery will last. Fiscal 2026 adjusted EPS was $2.51, and GAAP EPS was only $0.50 after restructuring charges. The first quarter of fiscal 2027 was strong. Organic sales rose 6%, adjusted operating margin rose to 12.1% from 7.3%, and adjusted EPS was $0.72 against $0.32.
The company raised its fiscal 2027 outlook to adjusted EPS of $3.20 to $3.45. Doubts remain. Tariffs still cost money, makeup sales rose only 2%, and the company says that it stays careful about the economy and about conflict in the Middle East. For the gap to close, organic sales growth must stay at 4.0% to 5.5% and the margin must keep rising toward the fiscal 2030 ambition of 16.5% to 18.5%, with double-digit adjusted EPS growth.
Cash flow must also follow. Operating cash flow was negative in Q1, and the company expects $1.4 billion to $1.5 billion for the year. The Q2 report in February 2027 is the next test.
Checkpoints
- Nov 2, 2026PassedQ1 fiscal 2027 results: margin and salesAdjusted operating margin of 11% or more with organic sales growth of 4% or more passes; less fails.Outcome: Adjusted operating margin was 12.1% and organic sales rose 6%. The company raised its outlook.
- Feb 4, 2027 · est.PendingQ2 fiscal 2027 results: outlookAn adjusted EPS outlook of $3.20 or more, kept or raised, with organic sales growth of 4% or more passes; a cut fails.
- Aug 2027 · est.PendingFiscal 2027 results: fiscal 2028 outlookA fiscal 2028 outlook with adjusted EPS growth of 10% or more passes; weaker growth fails.
Recent events
- November 4, 2026At a Capital Markets Experience in Shanghai, Estée Lauder gave its fiscal 2030 ambition: sustainable mid-single-digit organic sales growth each year, double-digit adjusted EPS growth through fiscal 2030 and an adjusted operating margin of 16.5% to 18.5% in fiscal 2030.
- November 2, 2026Estée Lauder reported fiscal 2027 first quarter results. Net sales were $3,715 million, up 7%, and adjusted EPS was $0.72 against $0.32. It raised its fiscal 2027 outlook to organic sales growth of 4.0% to 5.5%, an adjusted operating margin of 12.9% to 13.7% and adjusted EPS of $3.20 to $3.45.
- October 30, 2026The board declared a quarterly dividend of $0.35 per share on the Class A and Class B shares, payable on December 15, 2026 to holders of record on November 30, 2026.
Show 2 older eventsHide older events
- October 5, 2026Estée Lauder bought the rest of Mountain Valley Springs India, the owner of the Forest Essentials brand.
- August 19, 2026Estée Lauder reported fiscal 2026 results and gave a fiscal 2027 outlook of adjusted EPS of $3.10 to $3.35 and organic sales growth of 3% to 5%.
Latest news and filings
- Last earnings
- November 2, 2026 (8-K on sec.gov)
- Next earnings
- Expected about February 4, 2027. The company has not confirmed the date.
- 8-KInvestor disclosureFiled · el-20261104
- 10-QQuarterly report for the period ended Sep 30, 2026Filed · el-20260930
- 8-KEarnings releaseFiled · Press release and exhibits
- 8-KInvestor disclosureFiled · el-20260908
- 10-KAnnual report for the period ended Jun 30, 2026Filed · el-20260630
- 8-KEarnings releaseFiled · Press release and exhibits
- 8-KChange of directors or officersFiled · el-20260720
- 10-QQuarterly report for the period ended Mar 31, 2026Filed · el-20260331
- 8-KEarnings releaseFiled · Press release and exhibits
- 8-KOther company newsFiled · el-20260323
Risks
- Tariffs cost money. The company says that tariffs hurt its Q1 fiscal 2027 results, and it keeps watching changes in the United States and other markets.
- China and travel retail may slow again. Mainland China sales were $614 million in Q1, up 9% on an organic basis, and its operating margin was only 5.2%. Hainan travel retail drove part of the growth.
- The margin plan needs cost cuts to continue. Restructuring and other charges were $1.83 per share in fiscal 2026 and $41 million in Q1 fiscal 2027. The fiscal 2030 margin ambition is above today's level.
- Debt is high against equity. Debt was $7,251 million and total equity was $4,038 million at September 30, 2026. Total debt was 64% of total capitalization.
- Some categories are weak. Makeup sales rose 2% and hair care sales fell 1% in Q1, while fragrance grew 19%.
Balance sheet
Estée Lauder had cash and cash equivalents of $3.20 billion at September 30, 2026. Debt was $7,251 million: $503 million due within a year and $6,748 million long-term ($6,803 million at June 30, 2026). Operating lease liabilities were $1,949 million. Total equity was $4,038 million. Total debt was 64% of total capitalization, against 66% at June 30, 2026. Free cash flow was negative $235 million in Q1 (negative $436 million a year before), and the company paid dividends of $126 million. It expects operating cash flow of $1.4 billion to $1.5 billion in fiscal 2027 and capital spending of about 4% of sales.
Dividends
- Yield at the current rate
- 1.2% (current annual rate, at today’s price)
- Dividend yield
- 1.2% (last 12 months, at today’s price of $112.33)
- Paid per share
- $1.40 in the last 12 months (4 payments)
- Current annual rate
- $1.40 ($0.35 × 4 a year)
- Payout ratio
- 280% of the last fiscal year’s earnings (the year that ended June 30, 2026)
- Latest ex-dividend date
- August 31, 2026, $0.35 per share
Dividends per share by year
| 2016 | $1.24 | |
|---|---|---|
| 2017 | $1.40 | |
| 2018 | $1.57 | |
| 2019 | $1.77 | |
| 2020 | $1.49 | |
| 2021 | $2.19 | |
| 2022 | $2.46 | |
| 2023 | $2.64 | |
| 2024 | $2.33 | |
| 2025 | $1.40 |
From 2020 to 2025, the dividend fell by about 1.2% a year. From 2015 to 2025, the dividend grew by about 3.2% a year.
Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.
Questions about Estée Lauder
What does Estée Lauder do?
The Estée Lauder Companies Inc. (Estée Lauder) is a New York company that makes and sells prestige beauty products. Its categories are skin care, makeup, fragrance and hair care. Its market cap is $41B at the current price of $112.33.
When does Estée Lauder report earnings next?
This is an estimate: Estée Lauder may report on February 4, 2027. It last reported results on November 2, 2026.
Is Estée Lauder stock below its intrinsic value?
Estée Lauder stock is close to intrinsic value. This is general information, not advice.
What changed recently at Estée Lauder?
The latest update is from November 4, 2026. At a Capital Markets Experience in Shanghai, Estée Lauder gave its fiscal 2030 ambition: sustainable mid-single-digit organic sales growth each year, double-digit adjusted EPS growth through fiscal 2030 and an adjusted operating margin of 16.5% to 18.5% in fiscal 2030.
What are the main risks for Estée Lauder?
Tariffs cost money. China and travel retail may slow again. The margin plan needs cost cuts to continue.
How much debt and cash does Estée Lauder have?
Estée Lauder had cash and cash equivalents of $3.20 billion at September 30, 2026. This is as of September 30, 2026.
Does Estée Lauder pay a dividend?
Yes. The current annual dividend of Estée Lauder is $1.40 per share. That is a dividend yield of 1.2% at the current price of $112.33. The latest ex-dividend date was August 31, 2026.
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