Report
Sonia Vora
EUR 100.00 For Business Accounts Only

Estée Lauder's leadership in the prestige beauty market is evidence of its attractive brand set.

Wide-moat Estee Lauder finished its fiscal year on a stellar note, with net sales up nearly 16% (a touch above our 15% expectation) and adjusted operating margin expanding 70 basis points to 16.6% (comparable to our estimate). In our view, these results reflect the substantial brand equity inherent to Estee Lauder's portfolio of prestige beauty brands. As evidence, constant currency sales of the firm's namesake brand grew 22% and La Mer became its fourth brand to generate more than $1 billion in...
Underlying
Estee Lauder Companies Inc. Class A

Estee Lauder Companies is a manufacturer and marketer of skin care, makeup, fragrance and hair care products. The company's products are sold under a number of brand names including: Estee Lauder, Clinique, Origins, MzAzC, Bobbi Brown, La Mer, Jo Malone London, Aveda and Too Faced. The company is also the global licensee for fragrances, cosmetics and/or related products sold under various designer brand names. The company's products include skin care, makeup and related items such as compacts, brushes and other makeup tools, fragrance sold in various forms, hair care, and other ancillary products and services.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Sonia Vora

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