Company profile
SEC EDGAR ↗- Industry
- Perfumes, Cosmetics & Other Toilet Preparations
- Listed
- NYSE: EL
- Incorporated
- DE
- Headquarters
- New York, NY
- Fiscal year end
- Jun 30
Financials
FY2025- Revenue
- $14.3B
- Net income
- −$1.13B
- Total assets
- $19.9B
| Fiscal year | Revenue | Net income | Total assets |
|---|---|---|---|
| FY2025 | $14.3B | −$1.13B | $19.9B |
| FY2024 | $15.6B | $409.0M | $21.7B |
| FY2023 | $15.9B | $1.01B | $23.4B |
| FY2022 | $17.7B | $2.41B | $20.9B |
| FY2021 | $16.2B | $2.88B | $22.0B |
| FY2020 | $14.3B | $684.0M | $17.8B |
Reported fiscal years from SEC filings (10-K) — SEC EDGAR ↗. Stratrix is a strategy publication, not a real-time financial data service.
Decisions on record
One verified Decision Record on Estee Lauder, and the casebook each one belongs to.
| Fork date | Decision type | What Estee Lauder chose | Where it stood | The story | Casebook |
|---|---|---|---|---|---|
| 2021 | The Fork | Stage with performance-linked price | Total investment, net of cash, reached approximately $1.7 billion (2024) | Read the story → | The Fork Casebook → |
Run one of these yourself
The decisions Estee Lauder faced, as kits you can run.
Each pack takes one of these decisions and gives you the framework, a deck for the room, a model that resolves to one number, and the sourced cases behind it. $499, one-time.
Growth & PortfolioThe Adjacency ExpansionWhen does the business next door belong to you?See the pack →Decision ForksThe Road Not TakenWhat did the decision you did not take actually cost?See the pack →Decision ForksThe ResidualHow much of your decline can the agreed explanation actually account for?See the pack →
The analyses
The Adjacency Expansion · Growth & Portfolio
Estée Lauder Owns Sixteen Brands and One Vulnerability. The Brands Hid It for Decades.
Estée Lauder bought founder-built brands, kept their faces, and shared the back office — a model that compounded for thirty years. Then net sales fell to $15.61 billion, down two years running, because every distinct brand sold through the same two doors: China and Asia travel retail.
8 min
The Fork · Decision Forks
Estée Lauder Let Deciem's Own Growth Set the Price of the Last Piece It Bought
Estée Lauder bought Deciem in three tranches — $65M carried in 2017, $1,092M in 2021, an estimated $860M in 2024 — and wrote the final price as an option pegged to Deciem's own performance rather than a number fixed years in advance.
8 min
The Fall · Crisis & Reinvention
Estée Lauder's Collapse Looks Like a China Shock. It Was a Bet on One Customer Coming Due
Revenue peaked at $17.74 billion in FY2022, then fell two straight years to $15.61 billion in FY2024 with net earnings down ~60%. The collapse looks like a China shock. It was really a bet on one customer coming due.
7 min
The Fall · Crisis & Reinvention
A Grey-Market Crackdown Gutted Estée Lauder's Travel-Retail Engine and Erased Some $100B
Travel retail hit ~29% of revenue at peak, then a 2022 crackdown on grey-market resellers gutted it. A court found defendants 'attributed the decline to everything but the crackdown' — and ~$100B of market value evaporated.
8 min