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Side-by-side financial comparison of e.l.f. Beauty, Inc. (ELF) and OLD NATIONAL BANCORP (ONB). Click either name above to swap in a different company.

OLD NATIONAL BANCORP is the larger business by last-quarter revenue ($702.8M vs $489.5M, roughly 1.4× e.l.f. Beauty, Inc.). OLD NATIONAL BANCORP runs the higher net margin — 33.3% vs 8.0%, a 25.2% gap on every dollar of revenue. On growth, OLD NATIONAL BANCORP posted the faster year-over-year revenue change (44.4% vs 37.8%).

e.l.f. Beauty, Inc. is an American cosmetics brand based in Oakland, California. It was founded by Joseph Shamah and Scott Vincent Borba in 2004. The company sells items include bath and skin-care products, mineral-based makeup, professional tools, eyeliners, lipstick, glosses, blushes, bronzers, brushes and mascara. Its products are sold in 18 countries and in several stores including Target, Kmart, Dollar General and Walmart. Over half the company's sales come from its website, which is als...

Old National Bank is an American regional bank with nearly 200 retail branches operated by Old National Bancorp and based in Chicago and Evansville, Indiana. With assets at $48.5 billion and 250 banking centers, Old National Bancorp is the largest financial services bank holding company headquartered in Indiana and one of the top 30 banking companies in the U.S. Old National Bank has locations in Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Tennessee, and Wisconsin.

ELF vs ONB — Head-to-Head

Bigger by revenue
ONB
ONB
1.4× larger
ONB
$702.8M
$489.5M
ELF
Growing faster (revenue YoY)
ONB
ONB
+6.6% gap
ONB
44.4%
37.8%
ELF
Higher net margin
ONB
ONB
25.2% more per $
ONB
33.3%
8.0%
ELF

Income Statement — Q3 FY2026 vs Q1 FY2026

Metric
ELF
ELF
ONB
ONB
Revenue
$489.5M
$702.8M
Net Profit
$39.4M
$233.7M
Gross Margin
71.0%
Operating Margin
13.8%
Net Margin
8.0%
33.3%
Revenue YoY
37.8%
44.4%
Net Profit YoY
128.1%
61.5%
EPS (diluted)
$0.65

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
ELF
ELF
ONB
ONB
Q1 26
$702.8M
Q4 25
$489.5M
$580.8M
Q3 25
$343.9M
$574.6M
Q2 25
$353.7M
$514.8M
Q1 25
$387.6M
Q4 24
$394.2M
Q3 24
$391.7M
Q2 24
$388.4M
Net Profit
ELF
ELF
ONB
ONB
Q1 26
$233.7M
Q4 25
$39.4M
$216.6M
Q3 25
$3.0M
$182.6M
Q2 25
$33.3M
$125.4M
Q1 25
$144.7M
Q4 24
$153.9M
Q3 24
$143.8M
Q2 24
$121.2M
Gross Margin
ELF
ELF
ONB
ONB
Q1 26
Q4 25
71.0%
Q3 25
69.4%
Q2 25
69.1%
Q1 25
Q4 24
Q3 24
Q2 24
Operating Margin
ELF
ELF
ONB
ONB
Q1 26
Q4 25
13.8%
46.7%
Q3 25
2.2%
40.5%
Q2 25
13.8%
30.2%
Q1 25
46.8%
Q4 24
47.2%
Q3 24
47.2%
Q2 24
40.3%
Net Margin
ELF
ELF
ONB
ONB
Q1 26
33.3%
Q4 25
8.0%
37.3%
Q3 25
0.9%
31.8%
Q2 25
9.4%
24.4%
Q1 25
37.3%
Q4 24
39.0%
Q3 24
36.7%
Q2 24
31.2%
EPS (diluted)
ELF
ELF
ONB
ONB
Q1 26
Q4 25
$0.65
$0.55
Q3 25
$0.05
$0.46
Q2 25
$0.58
$0.34
Q1 25
$0.44
Q4 24
$0.47
Q3 24
$0.44
Q2 24
$0.37

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ELF
ELF
ONB
ONB
Cash + ST InvestmentsLiquidity on hand
$196.8M
Total DebtLower is stronger
$816.7M
Stockholders' EquityBook value
$1.2B
$8.5B
Total Assets
$2.3B
$73.0B
Debt / EquityLower = less leverage
0.70×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ELF
ELF
ONB
ONB
Q1 26
Q4 25
$196.8M
$1.8B
Q3 25
$194.4M
$1.7B
Q2 25
$170.0M
$1.8B
Q1 25
$1.2B
Q4 24
$1.2B
Q3 24
$1.2B
Q2 24
$1.2B
Total Debt
ELF
ELF
ONB
ONB
Q1 26
Q4 25
$816.7M
Q3 25
$831.6M
Q2 25
$256.7M
Q1 25
Q4 24
Q3 24
Q2 24
Stockholders' Equity
ELF
ELF
ONB
ONB
Q1 26
$8.5B
Q4 25
$1.2B
$8.5B
Q3 25
$1.1B
$8.3B
Q2 25
$804.9M
$8.1B
Q1 25
$6.5B
Q4 24
$6.3B
Q3 24
$6.4B
Q2 24
$6.1B
Total Assets
ELF
ELF
ONB
ONB
Q1 26
$73.0B
Q4 25
$2.3B
$72.2B
Q3 25
$2.3B
$71.2B
Q2 25
$1.3B
$71.0B
Q1 25
$53.9B
Q4 24
$53.6B
Q3 24
$53.6B
Q2 24
$53.1B
Debt / Equity
ELF
ELF
ONB
ONB
Q1 26
Q4 25
0.70×
Q3 25
0.73×
Q2 25
0.32×
Q1 25
Q4 24
Q3 24
Q2 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
ELF
ELF
ONB
ONB
Operating Cash FlowLast quarter
$59.4M
Free Cash FlowOCF − Capex
$52.8M
FCF MarginFCF / Revenue
10.8%
Capex IntensityCapex / Revenue
1.4%
Cash ConversionOCF / Net Profit
1.51×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ELF
ELF
ONB
ONB
Q1 26
Q4 25
$59.4M
$159.2M
Q3 25
$23.4M
$341.2M
Q2 25
$27.2M
$72.9M
Q1 25
$108.2M
Q4 24
$235.8M
Q3 24
$121.3M
Q2 24
$161.0M
Free Cash Flow
ELF
ELF
ONB
ONB
Q1 26
Q4 25
$52.8M
$137.3M
Q3 25
$16.6M
$333.6M
Q2 25
$20.1M
$64.1M
Q1 25
$102.4M
Q4 24
$229.0M
Q3 24
$115.7M
Q2 24
$151.6M
FCF Margin
ELF
ELF
ONB
ONB
Q1 26
Q4 25
10.8%
23.6%
Q3 25
4.8%
58.1%
Q2 25
5.7%
12.4%
Q1 25
26.4%
Q4 24
58.1%
Q3 24
29.5%
Q2 24
39.0%
Capex Intensity
ELF
ELF
ONB
ONB
Q1 26
Q4 25
1.4%
3.8%
Q3 25
2.0%
1.3%
Q2 25
2.0%
1.7%
Q1 25
1.5%
Q4 24
1.7%
Q3 24
1.4%
Q2 24
2.4%
Cash Conversion
ELF
ELF
ONB
ONB
Q1 26
Q4 25
1.51×
0.73×
Q3 25
7.82×
1.87×
Q2 25
0.82×
0.58×
Q1 25
0.75×
Q4 24
1.53×
Q3 24
0.84×
Q2 24
1.33×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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