The Estee Lauder Companies Inc Class A

EL: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$263.00	Xbgs	Ptrpwfl

Despite China Headwinds, Estee Lauder Is Poised to Ride Long-Term Beauty Premiumization Tailwinds

Dan Su

Aug 20, 2024

Business Strategy and Outlook

As a leading provider of premium beauty products, Estee Lauder has reinforced its competitive standing with category-leading brands in skin care, cosmetics, and fragrances, in addition to retaining a preferred vendor status across brick-and-mortar and digital channels. These attributes, coupled with scale-based cost advantages, should augur a long-term competitive edge that enables the firm to deliver excess returns for more than 20 years. As such, we award Estee a wide moat rating.

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