Estee Lauder Companies Inc Liquidation Value
Cash & Equivalents
Key Metrics
Cash Liquidation Value
- Long-Term Debt: not reported in this period (annual-only)
Liquid Liquidation Value
- Long-Term Debt: not reported in this period (annual-only)
Operating Liquidation Value
- Long-Term Debt: not reported in this period (annual-only)
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Liquidation Ladder
| Metric | Total | Per Share |
|---|---|---|
| Cash Liquidation Value | $-5.48B | $-15.14 |
| Liquid Liquidation Value | $-3.73B | $-10.32 |
| Operating Liquidation Value | $-1.82B | $-5.02 |
Key Components (as of 2026-03-31)
| Cash & Equivalents | $3.13B |
| Accounts Receivable | $1.75B |
| Inventory | $1.92B |
| Current Liabilities | $5.91B |
| Long-term Debt (?) | $6.81B |
| Op. Lease Liability (?) | $1.59B |
| Finance Lease (?) (bundled) | N/A |
| Shares Outstanding | 362.0M |
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Historical
| Period | Cash | AR | Inventory | AP | Curr Liab | LT Debt | Op Lease | Fin Lease |
|---|---|---|---|---|---|---|---|---|
| 2026-03-31 | $3.13B | $1.75B | $1.92B | N/A | $5.91B | $6.81B | $1.59B | N/A |
| 2025-12-31 | $3.08B | $1.66B | $1.90B | N/A | $5.27B | $7.32B | $1.66B | N/A |
| 2025-09-30 | $2.22B | $1.88B | $2.06B | N/A | $5.08B | $7.32B | $1.68B | N/A |
| 2025-06-30 | $2.92B | $1.53B | $2.07B | N/A | $5.43B | $14.63B | $1.74B | $28.00M |
| 2025-03-31 | $2.63B | $1.79B | $1.96B | N/A | $4.96B | $7.30B | $1.68B | N/A |
| 2024-12-31 | $2.59B | $1.61B | $2.00B | N/A | $5.03B | $7.28B | $1.71B | N/A |
| 2024-09-30 | $2.35B | $1.98B | $2.25B | N/A | $5.49B | $7.31B | $1.80B | N/A |
| 2024-06-30 | $3.40B | $1.73B | $2.17B | N/A | $5.70B | $15.04B | $1.70B | $28.00M |
SEC Filings
| Period | Form | Filed | Link |
|---|---|---|---|
| 2026-03-31 | 10-Q | 2026-05-01 | View |
| 2025-12-31 | 10-Q | 2026-02-05 | View |
| 2025-09-30 | 10-Q | 2025-10-30 | View |
| 2025-06-30 | 10-K | 2025-08-20 | View |
| 2025-03-31 | 10-Q | 2025-05-01 | View |
| 2024-12-31 | 10-Q | 2025-02-04 | View |
| 2024-09-30 | 10-Q | 2024-10-31 | View |
| 2024-06-30 | 10-K | 2024-08-19 | View |
AI Insights
Estee Lauder (EL) presents a deeply negative liquidation posture as of March 31, 2026, consistent with the MFFAIS-reported cash liquidation value of approximately -$3.5B and liquid liquidation value of approximately -$1.7B. The balance sheet is dominated by intangible assets and goodwill that receive zero recovery under liquidation assumptions, while the liability stack is carried at full face value.
On the asset side, cash and equivalents of $3.1B recover at par. Accounts receivable of $1.75B (net of $29M allowance) recovers approximately $1.6-1.65B at a 90-95% haircut. Inventory of $1.92B recovers approximately $1.15B at 60%. PP&E gross of $7.67B less accumulated depreciation of $4.83B yields net book value of $2.85B, recovering $1.4-2.0B at 50-70%. Goodwill of $2.12B (with $1.18B in accumulated impairment already recorded) and other intangibles net of $3.64B recover zero. Deferred tax assets of $1.34B and right-of-use assets of $1.79B are also effectively zero in liquidation.
On the liability side, total debt stands at $7.31B ($6.81B long-term, $502M current), with the $500M 3.15% 2027 Senior Notes now reclassified to current. Pension and OPEB obligations carry $390M in balance sheet recognition ($44M current, $346M noncurrent) against an underfunded status of $263M. Operating lease liabilities total $1.99B ($401M current, $1.59B noncurrent) — these do not extinguish on wind-up. Total current liabilities are $5.91B and noncurrent $9.76B, for total liabilities of approximately $15.67B against $19.66B in total assets.
Compared to the prior 10-Q (December 31, 2025), total debt declined modestly from $7.32B to $7.31B as the 2027 Senior Notes migrated from long-term to current. Cash increased from $3.08B to $3.13B. No goodwill or intangible impairment was recorded in Q3 FY2026 (versus $861M goodwill and $549M intangible impairment in the prior-year nine-month period that hit The Americas fragrance segment). Restructuring charges of $517M for the nine months ended March 2026 ($224M in Q3 alone, up from $97M Q3 prior year) are consuming cash and accelerating the asset base erosion. Credit ratings remain A-/A3 with negative outlook from both S&P and Moody's, signaling potential further deterioration in access to capital markets.
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