Helen of Troy Limited (HELE) Income Statement

30Y historyFree accessUpdated daily

While Q1 2027 revenue grew 8.2% year-over-year, gross margin compression to 46.0% and volatile SG&A expenses indicate the company's path to consistent profitability remains uncertain.

Annual statement

HELE Income Statement

Helen of Troy Limited (HELE) annual income statement — 30-year revenue, gross profit & net income history

Annual Quarterly

Metric	TTM	Feb'26	Feb'25	Feb'24	Feb'23	Feb'22	Feb'21	Feb'20	Feb'19	Feb'18	Feb'17	Feb'16	Feb'15	Feb'14	Feb'13	Feb'12	Feb'11	Feb'10	Feb'09	Feb'08	Feb'07	Feb'06	Feb'05	Feb'04	Feb'03	Feb'02	Feb'01	Feb'00	Feb'99	Feb'98	Feb'97

Sales/Revenue	1.82B	1.79B	1.91B	2.01B	2.07B	2.22B	2.1B	1.71B	1.56B	1.48B	1.4B	1.39B	1.45B	1.32B	1.29B	1.18B	777.04M	647.63M	622.75M	652.55M	634.93M	589.75M	581.55M	474.87M	458.82M	451.25M	361.4M	299.51M	294.5M	248.1M	213M
Revenue Growth %	-2.46%	-6.36%	-4.86%	-3.26%	-6.78%	5.93%	22.92%	9.16%	5.77%	5.82%	0.36%	-3.64%	9.72%	2.24%	9.02%	52.07%	19.98%	4%	-4.57%	2.77%	7.66%	1.41%	22.47%	3.5%	1.68%	24.86%	20.66%	1.7%	18.7%	16.48%	27.47%
Cost of Goods Sold	991.21M	970.6M	993.26M	1.06B	1.17B	1.27B	1.17B	972.97M	923.04M	867.65M	824.12M	866.84M	845.57M	800.45M	770.05M	703.19M	427.8M	368.47M	367.34M	370.85M	355.55M	323.19M	307.05M	257.65M	247.79M	238.86M	212.39M	178.76M	170.3M	149.1M	130.2M
COGS % of Revenue	-	54.34%	52.07%	52.69%	56.61%	57.13%	55.82%	56.98%	59.01%	58.67%	58.97%	62.25%	58.51%	60.77%	59.77%	59.51%	55.05%	56.9%	58.99%	56.83%	56%	54.8%	52.8%	54.26%	54.01%	52.93%	58.77%	59.68%	57.83%	60.1%	61.13%
Gross Profit	825.54M	815.69M	914.41M	948.66M	899.35M	953.19M	927.3M	734.47M	641.11M	611.2M	573.42M	525.73M	599.56M	516.7M	518.21M	478.48M	349.25M	279.16M	255.4M	281.69M	279.38M	266.56M	274.5M	217.22M	211.03M	212.39M	149M	120.75M	124.2M	99M	82.8M
Gross Margin %	45.44%	45.66%	47.93%	47.31%	43.39%	42.87%	44.18%	43.02%	40.99%	41.33%	41.03%	37.75%	41.49%	39.23%	40.23%	40.49%	44.95%	43.1%	41.01%	43.17%	44%	45.2%	47.2%	45.74%	45.99%	47.07%	41.23%	40.32%	42.17%	39.9%	38.87%
Gross Profit Growth %	-	-10.8%	-3.61%	5.48%	-5.65%	2.79%	26.26%	14.56%	4.89%	6.59%	9.07%	-12.31%	16.04%	-0.29%	8.3%	37%	25.11%	9.3%	-9.33%	0.83%	4.81%	-2.89%	26.37%	2.93%	-0.64%	42.54%	23.4%	-2.78%	25.45%	19.57%	23.58%
Operating Expenses	1.06B	708.91M	771.66M	688.07M	687.56M	680.64M	645.81M	556.22M	441.73M	442.14M	403.75M	409.44M	437.84M	399.6M	369.42M	339.1M	235.34M	188.89M	188.34M	207.77M	208.96M	195.18M	172.48M	131.44M	158.17M	170.73M	118.31M	111.33M	87.9M	68.9M	60.1M
OpEx % of Revenue	-	39.69%	40.45%	34.32%	33.17%	30.61%	30.77%	32.58%	28.24%	29.9%	28.89%	29.4%	30.3%	30.34%	28.68%	28.7%	30.29%	29.17%	30.24%	31.84%	32.91%	33.1%	29.66%	27.68%	34.47%	37.84%	32.74%	37.17%	29.85%	27.77%	28.22%
Selling, General & Admin	665.75M	708.91M	622.65M	621.74M	595.9M	611.03M	569.71M	484.5M	414.84M	374.58M	356.46M	368.01M	428.84M	369.33M	369.44M	339.1M	235.34M	188.89M	188.34M	207.77M	208.96M	195.18M	172.48M	131.44M	158.17M	170.73M	118.31M	104.41M	82.9M	64.9M	57.4M
SG&A % of Revenue	-	39.69%	32.64%	31.01%	28.75%	27.48%	27.14%	28.38%	26.52%	25.33%	25.51%	26.43%	29.67%	28.04%	28.68%	28.7%	30.29%	29.17%	30.24%	31.84%	32.91%	33.1%	29.66%	27.68%	34.47%	37.84%	32.74%	34.86%	28.15%	26.16%	26.95%
Research & Development	0	54M	53.9M	56.5M	47.8M	54M	53.4M	17.8M	13M	13.5M	11.8M	10M	7.4M	2.87M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	3.02%	2.83%	2.82%	2.31%	2.43%	2.54%	1.04%	0.83%	0.91%	0.84%	0.72%	0.51%	0.22%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	2M	-54M	95.11M	9.84M	43.86M	15.6M	22.7M	53.91M	13.89M	54.05M	35.49M	29.83M	1.6M	27.41M	0	0	0	0	0	0	0	0	0	0	0	0	0	6.92M	5M	4M	2.7M
Operating Income	-235.52M	106.78M	142.75M	260.59M	211.79M	272.55M	281.49M	178.25M	199.38M	169.06M	169.66M	116.29M	161.72M	117.1M	148.77M	139.39M	111.74M	89.37M	67.06M	73.92M	70.42M	71.38M	102.02M	85.77M	52.86M	41.66M	22.56M	9.42M	36.3M	30.1M	22.7M
Operating Margin %	-12.96%	5.98%	7.48%	13%	10.22%	12.26%	13.41%	10.44%	12.75%	11.43%	12.14%	8.35%	11.19%	8.89%	11.55%	11.8%	14.38%	13.8%	10.77%	11.33%	11.09%	12.1%	17.54%	18.06%	11.52%	9.23%	6.24%	3.14%	12.33%	12.13%	10.66%
Operating Income Growth %	-	-25.19%	-45.22%	23.04%	-22.29%	-3.18%	57.92%	-10.6%	17.93%	-0.35%	45.89%	-28.09%	38.1%	-21.29%	6.73%	24.74%	25.04%	33.27%	-9.29%	4.98%	-1.35%	-30.04%	18.95%	62.27%	26.89%	84.63%	139.54%	-74.05%	20.6%	32.6%	30.46%
EBITDA	-182.93M	160.08M	197.8M	312.09M	256.47M	308.38M	319.21M	215.66M	229.31M	202.79M	205.84M	151.18M	201.37M	150.94M	183.2M	169.56M	130.25M	104.63M	81.24M	88.22M	84.72M	83.81M	111.73M	91.9M	59.42M	50.29M	30.7M	16.34M	41.3M	34.1M	25.4M
EBITDA Margin %	-10.07%	8.96%	10.37%	15.57%	12.37%	13.87%	15.21%	12.63%	14.66%	13.71%	14.73%	10.86%	13.93%	11.46%	14.22%	14.35%	16.76%	16.16%	13.05%	13.52%	13.34%	14.21%	19.21%	19.35%	12.95%	11.14%	8.49%	5.46%	14.02%	13.74%	11.92%
EBITDA Growth %	23.7%	-19.07%	-36.62%	21.68%	-16.83%	-3.39%	48.01%	-5.95%	13.07%	-1.48%	36.15%	-24.92%	33.41%	-17.61%	8.04%	30.19%	24.48%	28.79%	-7.91%	4.14%	1.09%	-24.99%	21.58%	54.67%	18.16%	63.81%	87.88%	-60.44%	21.11%	34.25%	29.59%
D&A (Non-Cash Add-back)	52.59M	53.3M	55.05M	51.5M	44.68M	35.83M	37.72M	37.41M	29.93M	33.73M	36.17M	34.89M	39.65M	33.84M	34.42M	30.18M	18.5M	15.26M	14.19M	14.3M	14.3M	12.43M	9.71M	6.13M	6.56M	8.63M	8.14M	6.92M	5M	4M	2.7M
EBIT	-313.8M	-781.1M	213.56M	249.82M	242.25M	275.05M	290.89M	220.36M	201.66M	193.06M	173.53M	146.13M	170.72M	147.38M	148.77M	133.76M	105.9M	83.57M	-37.78M	76.3M	70.42M	71.38M	102.02M	85.77M	52.86M	41.66M	30.7M	9.42M	36.33M	30.1M	22.7M
Net Interest Income	-55.25M	-57.74M	-51.92M	-53.06M	-40.75M	-12.84M	-12.62M	-12.71M	-11.72M	-13.97M	-14.45M	-10.59M	-15.02M	-10.19M	-9.69M	-8.49M	-3.7M	-3.8M	-13.69M	-15.03M	0	0	0	0	0	0	0	0	0	0	0
Interest Income	0	0	0	0	0	0	0	0	0	0	0	504K	0	0	70K	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Expense	55.25M	57.74M	51.92M	53.06M	40.75M	12.84M	12.62M	12.71M	11.72M	13.95M	14.86M	11.1M	15.02M	10.19M	9.76M	12.92M	9.69M	10.31M	13.69M	15.03M	0	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	-134.46M	-945.62M	-51.08M	-51.55M	-40.5M	-12.58M	-12.06M	-12.31M	-11.38M	-13.62M	-13.95M	-10.28M	-14.51M	-9.97M	-13.26M	-13.29M	-9.12M	-9.26M	-11.25M	-12.65M	-15.27M	-15.58M	-12.45M	265K	-2.11M	-3.11M	-1.67M	3.68M	-919K	-1.28M	-500K
Pretax Income	-369.98M	-838.84M	91.66M	209.04M	171.29M	259.97M	269.43M	165.94M	188M	155.44M	155.72M	106.01M	147.21M	107.13M	135.51M	126.09M	102.63M	80.11M	-51.47M	61.27M	55.15M	55.8M	89.58M	86.04M	50.75M	38.55M	20.89M	13.1M	35.4M	28.8M	22.2M
Pretax Margin %	-20.36%	-46.96%	4.81%	10.43%	8.26%	11.69%	12.84%	9.72%	12.02%	10.51%	11.14%	7.61%	10.19%	8.13%	10.52%	10.67%	13.21%	12.37%	-8.26%	9.39%	8.69%	9.46%	15.4%	18.12%	11.06%	8.54%	5.78%	4.37%	12.02%	11.61%	10.42%
Income Tax	42.53M	60.14M	-32.09M	40.45M	28.02M	36.2M	15.48M	13.61M	13.78M	26.56M	9.2M	18.59M	16.05M	20.89M	19.85M	15.72M	9.32M	8.29M	5.33M	-236K	5.06M	6.49M	12.91M	14.48M	12.03M	9.33M	3.56M	-14K	7.1M	6.5M	5M
Effective Tax Rate %	-11.49%	-7.17%	-35.01%	19.35%	16.36%	13.93%	5.75%	8.2%	7.33%	17.08%	5.91%	17.54%	10.9%	19.5%	14.65%	12.47%	9.08%	10.35%	-10.35%	-0.39%	9.18%	11.63%	14.41%	16.83%	23.71%	24.21%	17.03%	-0.11%	20.06%	22.57%	22.52%
Net Income	-412.5M	-898.98M	123.75M	168.59M	143.27M	223.76M	253.95M	152.33M	168.54M	44.45M	140.69M	101.23M	131.16M	86.25M	115.67M	110.37M	93.31M	71.82M	-56.79M	61.51M	50.09M	49.31M	76.45M	60.52M	38.72M	29.21M	17.33M	13.11M	28.3M	22.3M	17.2M
Net Margin %	-22.71%	-50.33%	6.49%	8.41%	6.91%	10.06%	12.1%	8.92%	10.78%	3.01%	10.07%	7.27%	9.08%	6.55%	8.98%	9.34%	12.01%	11.09%	-9.12%	9.43%	7.89%	8.36%	13.15%	12.75%	8.44%	6.47%	4.8%	4.38%	9.61%	8.99%	8.08%
Net Income Growth %	-23.81%	-826.44%	-26.6%	17.67%	-35.97%	-11.89%	66.7%	-9.62%	279.21%	-68.41%	38.98%	-22.82%	52.08%	-25.43%	4.79%	18.29%	29.92%	226.45%	-192.33%	22.8%	1.58%	-35.5%	26.32%	56.32%	32.52%	68.56%	32.19%	-53.67%	26.91%	29.65%	31.3%
Net Income (Continuing)	-412.5M	-898.98M	123.75M	168.59M	143.27M	223.76M	253.95M	152.33M	174.22M	128.88M	144.31M	92.99M	131.16M	86.25M	115.67M	110.37M	93.31M	71.82M	-56.79M	61.51M	50.09M	49.31M	76.67M	71.56M	38.72M	29.21M	17.33M	13.11M	28.33M	22.33M	17.2M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	8.24M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)	-17.36	-39.08	5.37	7.03	5.95	9.17	10.08	6.02	6.62	4.73	5.17	3.23	4.52	2.66	3.62	3.48	2.98	2.32	-1.88	1.93	1.58	1.56	2.35	1.94	1.31	1.00	0.60	0.44	0.96	0.77	0.62
EPS Growth %	-23.9%	-827.75%	-23.61%	18.15%	-35.11%	-9.03%	67.44%	-9.06%	39.96%	-8.51%	60.06%	-28.54%	69.92%	-26.52%	4.02%	16.78%	28.45%	223.4%	-197.41%	22.15%	1.28%	-33.62%	21.13%	48.09%	31%	66.67%	36.36%	-54.17%	24.68%	24.19%	26.53%
EPS (Basic)	-	-39.08	5.38	7.06	5.98	9.27	10.16	6.06	6.68	5.47	5.24	3.29	4.59	2.69	3.64	3.52	3.04	2.38	-1.88	2.01	1.66	1.65	2.57	2.13	1.37	1.04	0.61	0.45	1.00	0.83	0.66
Diluted Shares Outstanding	23.76M	23M	23.07M	23.97M	24.09M	24.41M	25.2M	25.32M	26.3M	27.25M	27.89M	28.75M	29.04M	32.39M	31.94M	31.7M	31.36M	30.92M	30.17M	31.8M	31.72M	31.61M	32.59M	31.26M	29.55M	29.2M	28.73M	29.89M	29.6M	28.85M	27.74M
Basic Shares Outstanding	23.76M	23M	23.04M	23.98M	24.08M	24.4M	25.19M	25.32M	25.46M	23.56M	27.21M	31.34M	29.02M	32.42M	31.95M	31.34M	30.67M	30.22M	30.17M	30.53M	30.12M	29.92M	29.71M	28.36M	28.19M	28.09M	28.42M	29.05M	28.28M	26.86M	26.06M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Key Metrics

Growth RegimeMixed

ProfitabilityStrained

Balance SheetAdequate

Cash FlowMixed

Top Statement Risk

Persistent operating losses and margin compression

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2027Q1)

Revenue Growth Reversal After Steep Decline

After a prolonged period of double-digit revenue contraction, Helen of Troy's top line showed a tentative rebound in Q1 2027, with revenue growing 8.2% year-over-year to $402.1 million, suggesting the worst of the sales decline may be behind it.

The 8.2% growth in Q1 2027 marks a significant reversal from the consistent negative growth rates seen in the prior eight quarters, which included declines as steep as 12.2%. This inflection point appears to be driven by a combination of easier year-over-year comparisons and potential stabilization in end-market demand. However, the durability of this recovery remains uncertain, as the company's historical growth has been volatile and the prior quarters showed a clear deceleration trend before this uptick.

Gross Margin Erosion Amidst Operational Turmoil

Helen of Troy's gross margin has compressed significantly from a peak of 49.0% in Q4 2024 to 46.0% in Q1 2027, a trend that warrants monitoring as it may indicate pricing pressure or unfavorable product mix shifts.

The 300 basis point decline in gross margin over the last nine quarters suggests the company is facing headwinds in maintaining its pricing power or managing input costs effectively. While the Q1 2027 margin of 46.0% is an improvement from the 44.2% low in Q2 2026, it remains below the 48-49% levels seen in early 2025. This structural margin pressure, combined with the company's peer context showing Church & Dwight's superior 44.7% margin, indicates Helen of Troy may be losing competitive positioning in its product categories.

Operating Leverage Deteriorates Sharply

Operating income has swung from a $66.2 million profit in Q4 2024 to a $407.0 million loss in Q1 2026, demonstrating severe negative operating leverage as SG&A expenses have ballooned relative to gross profit generation.

The company's operating margin collapsed from 13.5% to -109.5% in just three quarters, indicating that fixed cost structures became unsustainable as revenue declined. While Q1 2027 shows a recovery to 15.0% operating margin, this appears to be driven by a dramatic reduction in SG&A from $169.4 million to $124.5 million rather than sustainable operational improvements. The extreme volatility in operating leverage suggests the business model lacks flexibility to adjust costs in line with revenue fluctuations.

Net Income Volatility Raises Quality Concerns

Helen of Troy's net income has swung wildly from a $50.9 million profit in Q4 2025 to a $450.7 million loss in Q1 2026, with EPS ranging from $2.22 to -$19.65, indicating significant non-operational items are distorting underlying profitability.

The extreme earnings volatility suggests substantial one-time charges, impairments, or restructuring costs are impacting reported results. The Q1 2026 loss of $450.7 million on $371.7 million revenue implies non-operational items exceeded the entire revenue base for that quarter. While Q1 2027 shows normalized earnings of $35.8 million, investors should scrutinize whether this represents sustainable operational performance or the absence of previously recorded write-downs.

SG&A Discipline Remains Elusive

SG&A expenses have fluctuated dramatically from $88.1 million to $182.8 million over the past ten quarters, with no clear pattern of cost control, suggesting management has struggled to align overhead with revenue performance.

The erratic SG&A spending pattern is particularly concerning given the company's revenue trajectory. In quarters with similar revenue levels, SG&A has varied by over $90 million, indicating either inconsistent accounting treatment or poor cost management. The Q1 2027 reduction to $124.5 million appears positive, but this follows quarters where SG&A exceeded $180 million despite lower revenue, raising questions about the sustainability of these cost reductions.

Structural Profitability Undermined by Cost Volatility

The most significant challenge to Helen of Troy's income statement narrative is the persistent inability to generate consistent operating profits, with the company posting operating losses in four of the last ten quarters despite maintaining gross margins above 44%.

Short-sellers would focus on the disconnect between relatively stable gross margins and wildly volatile operating results, which suggests fundamental issues with cost structure and operational execution. The company's operating margin has ranged from -109.5% to 15.0% in just nine quarters, indicating that even modest revenue declines can trigger catastrophic profitability collapses. This pattern suggests the business lacks the operational resilience needed to weather normal business cycles, making the recent Q1 2027 recovery appear fragile rather than sustainable.

HELE — Frequently Asked Questions

Quick answers to the most common questions about buying HELE stock.

What was Helen of Troy Limited's (HELE) revenue in 2026?

For fiscal year 2026, Helen of Troy Limited (HELE) reported total revenue of $1.79B. This represents a 738.6% increase compared to $213.0M in 1997.

Is Helen of Troy Limited (HELE) profitable?

Helen of Troy Limited (HELE) reported a net loss of $899.0M for the fiscal year ending 2026.

What is Helen of Troy Limited's operating profit margin?

Helen of Troy Limited (HELE) reported an operating income of $106.8M, resulting in an operating profit margin of 6.0%. This margin reflects the operational efficiency of the business before interest and taxes.

What is Helen of Troy Limited's gross profit and gross margin?

Helen of Troy Limited (HELE) generated $815.7M in gross profit for the year, representing a gross profit margin of 45.7%. This demonstrates the company's core pricing power and production efficiency.