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OLPX, Olaplex Holdings Inc.

OLAPLEX has evolved from a handful of products capable of treating severely damaged hair to a broader range designed to provide healthy hair from root to tip.

Our products are designed to enable Pros and their clients to achieve their best results and to provide consumers with a holistic hair regimen that starts by establishing a foundation for healthy hair.

In 2014, OLAPLEX revolutionized the haircare category through the introduction of our patent-protected bond-building technology, Bis-aminopropyl diglycol dimaleate ("Bis-amino"), in our No. 1 Bond Multiplier and No. 2 Bond Perfector products.

Latest annual: FY2025 10-K

OLPX · Olaplex Holdings Inc.

The business

What it sells, where the money comes from, the kind of company it is.

Revenue · FY2025

$423M

+0.1% YoY · 8% 5-yr CAGR

Vital signs · TTM, with 5-yr average

Revenue $425M 5-yr avg $521M

Gross margin 70% 5-yr avg 72%

Operating margin −1.6% 5-yr avg 29.7%

ROIC −1% 5-yr avg 13%

Owner-earnings margin 16% 5-yr avg 31%

Free cash flow margin 16% 5-yr avg 31%

The business in brief

read the 10-K →

What this business is and what moves its needle, from its own SEC filings.

What moves the needle: Gross margin has run about 69% and operating margin about 24% through the cycle, a wide spread between price and the cost of what it sells — whether that advantage is durable pricing power or a margin that can erode is the question the record is for. The operating margin has swung widely — from 1.6% to 56% over the years — so the through-cycle figure carries more than any single year, and the worst year more than the best. Inventory runs near 16% of sales, so how fast it turns back into cash — and the risk of writing it down when demand softens — sits alongside the margin. On its own account, the filing leans hardest on customer concentration, set against the numbers in what the filing emphasizes, below.
Is it a good business?: Return on capital has rarely cleared the cost of capital (median 7%, above 15% in 2 of 6 years). By owner earnings: roughly 35% of revenue reaches owners as cash, consistently. This is price-taker territory, where the balance sheet and the cycle matter more than any multiple; the rest is in the 10-K.

Every line is arithmetic on the company's filings, shown in full in the sections below.

Where the money comes from

read the 10-K →

52% of revenue comes from outside the United States.

Revenue by geography, FY2025

International52%$219M
United States48%$204M

From the segment footnote of the company's own 10-K. Shares are of total revenue; the profit bar shows each segment's share of segment operating profit, before unallocated corporate costs.

The record

Ten years of arithmetic, read across the cycle.

The record, 2020–2025

realized figures from each filing · older years to the left

2020’20	2021’21	2022’22	2023’23	2024’24	2025’25	TTMTTMMar 2026
							Income statement
$282M	$598M	$704M	$458M	$423M	$423M	$425M	RevenueRevenue
64%	79%	74%	70%	69%	69%	70%	Gross marginGross mgn
13%	17%	16%	37%	43%	57%	61%	SG&A / revenueSG&A/rev
$86M	$334M	$364M	$108M	$67M	$7M	($7M)	Operating incomeOp. inc.
30.5%	55.8%	51.7%	23.6%	15.8%	1.6%	−1.6%	Operating marginOp. mgn
$39M	$221M	$244M	$62M	$20M	($9M)	($15M)	Net incomeNet inc.
17%	20%	20%	20%	27%	—	—	Effective tax rateTax rate
							Cash flow & returns
$129M	$200M	$255M	$178M	$143M	$59M	$69M	Operating cash flowOp. cash
$0	$162K	$363K	$479K	$486K	$345K	$340K	DepreciationDeprec.
$88M	($25M)	$4M	$106M	$112M	$54M	$70M	Working capital & otherWC & other
$27K	$875K	$650K	$375K	$1M	$331K	$429K	CapexCapex
0.0%	0.1%	0.1%	0.1%	0.3%	0.1%	0.1%	Capex / revenueCapex/rev
$129M	$199M	$255M	$177M	$142M	$58M	$69M	Owner earningsOwner earn.
45.7%	33.3%	36.2%	38.7%	33.6%	13.8%	16.1%	Owner earnings marginOE mgn
$129M	$199M	$255M	$177M	$142M	$58M	$69M	Free cash flowFCF
45.7%	33.3%	36.2%	38.7%	33.6%	13.8%	16.1%	Free cash flow marginFCF mgn
$1.4B	$0	$0	—	—	—	$0	AcquisitionsAcquis.
$470M	$0	$0	—	—	—	$0	Dividends paidDiv. paid
6%	24%	26%	8%	5%	1%	-1%	ROICROIC
7%	42%	31%	7%	2%	-1%	-2%	Return on equityROE
−81%	42%	31%	—	—	—	−2%	Retained to equityRetained/eq
							Balance sheet
$11M	$186M	$323M	$466M	$586M	$319M	$326M	Cash & investmentsCash+inv
$14M	$41M	$46M	$41M	$15M	$29M	$38M	ReceivablesReceiv.
$34M	$98M	$144M	$96M	$75M	$60M	$66M	InventoryInvent.
$17M	$19M	$10M	$7M	$10M	$8M	$29M	Accounts payablePayables
$31M	$120M	$181M	$130M	$80M	$81M	$75M	Operating working capitalOper. WC
$61M	$335M	$522M	$613M	$690M	$470M	$446M	Current assetsCur. assets
$47M	$73M	$55M	$56M	$65M	$103M	$71M	Current liabilitiesCur. liab.
1.3×	4.6×	9.5×	10.9×	10.7×	4.6×	6.3×	Current ratioCurr. ratio
$168M	$168M	$168M	$168M	$168M	$168M	$168M	GoodwillGoodwill
$1.3B	$1.6B	$1.7B	$1.7B	$1.8B	$1.5B	$1.5B	Total assetsAssets
$775M	$758M	$663M	$656M	$650M	$352M	$352M	Total debtDebt
$765M	$572M	$340M	$189M	$64M	$34M	$26M	Net debt / (cash)Net debt
2.2×	5.5×	8.3×	1.9×	1.1×	0.2×	-0.2×	Interest coverageInt. cov.
$531M	$524M	$781M	$845M	$874M	$879M	$878M	Shareholders’ equityEquity
0.5%	0.7%	1.0%	2.0%	2.6%	3.1%	3.3%	Stock comp / revenueSBC/rev
							Per share
637M	690M	691M	678M	665M	666M	670M	Shares out (diluted)Shares
$0.44	$0.87	$1.02	$0.68	$0.64	$0.63	$0.63	Revenue / shareRev/sh
$0.06	$0.32	$0.35	$0.09	$0.03	$-0.01	$-0.02	EPS (diluted)EPS
$0.20	$0.29	$0.37	$0.26	$0.21	$0.09	$0.10	Owner earnings / shareOE/sh
$0.20	$0.29	$0.37	$0.26	$0.21	$0.09	$0.10	Free cash flow / shareFCF/sh
$0.74	$0.00	$0.00	—	—	—	$0.00	Dividends / shareDiv/sh
$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	Cap. spending / shareCapex/sh
$0.83	$0.76	$1.13	$1.25	$1.31	$1.32	$1.31	Book value / shareBVPS

Per-share growththe realized rate an owner's share compounded

	5-yr	5-yr
Revenue / share	+7.4%/yr	+7.4%/yr
Owner earnings / share	−15.4%/yr	−15.4%/yr
Capital spending / share	+63.6%/yr	+63.6%/yr
Book value / share	+9.6%/yr	+9.6%/yr

The record, charted

FY2020–2025

Each measure over its full record; the current point and the worst year marked.

Share count

666Mpeak FY2022

ROIC

1%low FY2025

Gross margin

69%low FY2020

Net debt ÷ owner earnings

0.6×peak FY2020

Owner earnings vs. net income

Owner earningsNet income

The accountant's number, and the cash an owner can take; the gap is the tell.

$58Mowner earningsvs.($9M)net incomelow FY2025

Where the cash went

ReinvestBuybacksDividendsAcquisitionsRetainedBeyond op. cash

Each year's outlays against its operating cash: the mix, and how it drifts. The hatched cap is spending beyond that year's operating cash — financed from the balance sheet or borrowing, not operations.

FY2020FY2025

Owner-earnings bridge

FY2021–FY2025cash-flow statement, SEC EDGAR →

Net income is the accountant's number; owner earnings is the cash an owner could take out. The walk between them, off the cash-flow statement, and whether the gap is widening or holding.

In fiscal 2025 the business turned a $9M loss into $58M of owner earnings: more cash than the profit line showed, after the non-cash charges and the capital it put back in.

	FY2025	FY2024	FY2023	FY2022	FY2021
Reported net income	($9M)	$20M	$62M	$244M	$221M
Depreciation & amortizationnon-cash charge added back	+$345K	+$486K	+$479K	+$363K	+$162K
Stock-based compensationreal costnon-cash, but a real cost	+$13M	+$11M	+$9M	+$7M	+$4M
Working capital & othertiming of cash in and out, other non-cash items	+$54M	+$112M	+$106M	+$4M	−$25M
Cash from operations	$59M	$143M	$178M	$255M	$200M
Capital expenditurecash put back in to keep running and to grow	−$331K	−$1M	−$375K	−$650K	−$875K
Owner earnings	$58M	$142M	$177M	$255M	$199M
Owner-earnings marginowner earnings ÷ revenue	14%	34%	39%	36%	33%

Owner earnings is the cash an owner could pull out without starving the business: operating cash less the capital it must spend to hold its position . The cash-flow statement also adds stock comp back as non-cash, but it is a real cost paid in shares; counted as the expense it is (less $13M), owner earnings is nearer $45M.

Maintenance capex is estimated as depreciation where a growing business invests above it; free cash flow is the figure the scorecard's free-cash margin reads.

III

Quality & stewardship

Returns, the balance sheet, capital allocation, and pay.

Owner’s Scorecard

FY2025 10-K · source on SEC EDGAR →

Will it survive?

Can it pay its interest? 0.2×

Does not cover its interest

Operating income $7M ÷ interest expense $41M

What this means
A full year of operating profit didn't cover the interest bill. This is the zombie zone: the business depends on refinancing, asset sales, or forbearance to service its debt.
How heavy is the debt, net of cash? $34M · 4.8× operating profit

Heavy net debt

Cash $319M − debt $352M

What this means
Netting $319M of cash and short-term investments against $352M of debt leaves $34M owed, about 4.8× a year's operating profit (50.7× on the gross debt, before the cash). Net debt is the leverage figure that matters: the cash is already set against the debt. Strategic or illiquid investments aren't counted here.
How long is cash tied up? 172d

Long (60+ days)

DSO 25 + DIO 170 − DPO 23 days

What this means
Days cash is tied up between paying suppliers and collecting from customers. Lower is better; a long cycle means growth itself eats cash.

Is it a good business?

Return on invested capital 6%

Below average through the cycle

6-yr median, range 1%–26%; 1% latest = NOPAT $5M ÷ invested capital $913M

Industry peers: median 7%

What this means
The rate the business earns on the money tied up in it, Buffett's north star, because over time a stock tracks the ROIC beneath it. Above ~15% sustained hints at a moat; a return below the cost of capital (~8%) erodes value as a business grows rather than building it — the test Buffett weighs most. The headline is the median of the last 6 years (it ran 1% most recently), so one peak or trough year doesn't set the verdict. Asset-light businesses (R&D expensed, little capital) read artificially high, pair this with Owner Earnings.
Owner-earnings margin 34%

High through the cycle

6-yr median margin, range 14%–46%; latest $58M = operating cash $59M − maintenance capex $331K

Industry peers: median -3%

What this means
What an owner could take out without starving the business: operating cash less the maintenance capital it must spend to hold its position — Buffett's owner earnings. That's 14% of revenue this year, a 34% median across 6 years. Treating stock comp as the real expense it is (less $13M of SBC) leaves $45M.
Are earnings backed by cash? $59M

Loss, but cash-generative

Net income ($9M) · cash from operations $59M

What this means
The company reported a net loss, so a conversion ratio isn't meaningful. What matters then is whether operations still threw off cash, here, they did.

How is the cash used?

Where do the earnings go? 0%

Reinvests most of it

Dividends + buybacks $0 ÷ Owner Earnings $58M

What this means
Of $58M Owner Earnings, $0 (0%) went back to shareholders, $0 dividends, $0 buybacks. Returning most of it is the mark of a mature business with little left to reinvest at a high return; reinvesting most could mean a long runway, or empire-building. The split doesn't say which; the return earned on it (see ROIC) does.
Investing or harvesting? 0.96×

Maintaining

Capex $331K ÷ depreciation $345K

What this means
Descriptive, not a grade. Above ~1× means investing faster than assets wear out (growth, or, sustained for years, today's earnings carrying less depreciation than tomorrow's will). Below means spending less than it's wearing out (efficiency, or a melting asset base). The ratio won't tell you which; the filings will.

Graham’s defensive tests · 2 of 6 met

Graham’s numerical criteria for the defensive investor (The Intelligent Investor, ch. 14), run on the filings. A floor of safety, not a buy signal; many fine modern businesses fail his strictest liquidity rules by design.

Adequate size Miss

Revenue ≥ $2B · $423M

What this means
Big enough to weather a storm. Graham's 1972 floor was ~$100M of sales (≈ $700M today); we use a $2B revenue line as a conservative modern stand-in.
Strong liquidity Pass

Current ratio ≥ 2× · 4.58×

What this means
Current assets at least twice current liabilities, near-term bills covered without touching the business. Strict by design: many cash-rich modern firms run leaner and miss it, holding their cushion in longer-dated securities.
Conservative debt Pass

Debt ≤ working capital · $352M vs $368M WC

What this means
Graham's rule that borrowings not exceed net current assets. Capital-heavy and buyback-heavy firms routinely fail it, read it next to interest coverage, not alone.
Earnings stability Near

A profit every year (6-yr record) · 1 loss year

What this means
Graham wanted earnings in each of the past ten years, the stability a defensive owner leans on.
Dividend record Miss

Uninterrupted dividends · 1 of 6 yrs

What this means
An unbroken dividend was Graham's mark of durability. He wanted twenty years; the filings show about ten, and a single suspension breaks the streak. Non-payers, many fine modern compounders, fall outside his defensive net by design.
Earnings growth Miss

Earnings +33% over the record · −86%

What this means
At least a third more earnings than a decade ago, averaging three years at each end. Net income (not per-share), so stock splits don't distort it, buybacks and dilution show up in the share-count line instead.
Moderate price —

P/E ≤ 15 and P/E × P/B ≤ 22.5 · decided by the price

What this means
Graham's valuation gate, the wall he kept between a sound business and a sound investment. Three-year average earnings are $0.04/share (latest year $-0.01), the averaged base the calculator's gate runs on, and book value is $1.31/share. Enter a price in “What the price implies” just below for the P/E, P/B, and whether it clears. But this is the rule Buffett outgrew: there's no hard P/E law, and a wonderful business can deserve a far richer multiple if the thesis holds, treat it as the bargain-hunter's floor, not a verdict on the price.

Durability & moat, 2020–2025

Whether the record’s returns held, and what the capital reinvested earned.

Profitable years 5 of 6

What this means
Lost money in 1 year(s), look at what happened there before trusting the average.
Return on capital ≥ 15% 2 of 6 yrs

What this means
A moat shows up as a high return on invested capital that holds year after year, not one good vintage.
Operating margin 46% → 14% (3-yr avg ends)

What this means
Through the cycle the operating margin slipped — about 46% early to 14% lately, median 24% — competition or costs are biting in.
Reinvestment, incremental ROIC returns capital

What this means
The capital base barely grew: this business returns cash through dividends and buybacks rather than reinvesting. Judge it on the cash returned, not on compounding.
Owner earnings growth −9%/yr

What this means
Owner earnings shrank about 9% a year over the record.
Worst year 2025 · 1.6% op. margin

What this means
Stayed profitable even in its hardest year, the resilience that survives recessions.
Share count +0.9%/yr

What this means
Roughly flat share count, little dilution, little buyback.
Dividend record paid

What this means
Paid a dividend in 1 of the years on record.

Does AI threaten the moat?

Low contestability

The moat is physical, regulated or balance-sheet-funded, the kind AI cuts costs within but does not contest.

In its own filing A competitive risk, new this year

Its FY2025 10-K names artificial intelligence as a competitive threat, in language that was not in the prior year's filing.

“Our competitors or other third parties may incorporate AI into their business, services, and products more rapidly or more successfully than us, which could hinder our ability to compete effectively and adversely affect our business.”

AI is unlikely to contest a moat that is physical, regulated or balance-sheet-funded; here it reads more as a cost tool than a threat.

Read from the filing's own risk factors, paired with the industry's structure under its SIC code; the durability is read above, the price below.

All figures as filed; the source filing is linked above.

Current Position

as of the latest quarter, Mar 31, 2026

Can the business pay what it owes this year, off the freshest balance sheet: the quality of the assets, the debt actually coming due, and what a low ratio means here.

Current assets$446M

Cash & short-term investments$326M
Receivables$38M
Inventory$66M
Other current assets$16M

Current liabilities$71M

Accounts payable$29M
Other current liabilities$42M

Current ratio6.27×all current assets ÷ what's due · Graham looked for 2×

Quick ratio5.34×stricter: inventory excluded

Cash ratio4.58×strictest: cash alone against what's due

Working capital$375Mthe cushion left after near-term bills

Revenue, latest quarter vs. a year ago+2.5%the freshest read on whether the business is still growing

Current ratio, recent quarters9.3× → 6.3×

Deeper floors

Tangible book value($125M)equity stripped of goodwill & intangibles

Net current asset value($136M)Graham's net-net: current assets less all liabilities

Debt incl. operating leases$352Mno operating-lease liability tagged this quarter, so debt alone

Deferred revenue$1Mcustomer cash collected before delivery; operating float

From the company's latest filing.

How the cash was used, 2020–2025

Over the record, the business generated $964M of operating cash; how management split it reads as a deleverager, a meaningful share of cash went to paying down debt.

Reinvested$3M · 0%
Dividends$470M · 49%
Retained (debt / cash)$490M · 51%

Returned to owners$470M
49% of the owner earnings the business produced over the span, $470M as dividends and $0 as buybacks.
Source of fundingOperating cash
Operating cash covered reinvestment and returns; over the span debt fell $423M and cash and short-term investments rose $315M.
Net change in share count5.2%
The diluted count rose from 637M to 670M: issuance (stock pay, deals) outran any buybacks, so owners were diluted on net.
Dividend record$0.00/sh
Paid in 1 of the years on record. It was cut at least once along the way.
Return on what it retained−65%
Of the earnings it kept rather than paid out ($106M over the span), annual owner earnings (first three years vs last three) fell $68M, so each retained $1 gave back about 0.65 of yearly owner earnings. Buffett's test, run on owner earnings instead of market value.

Buybacks are gross of stock issued to staff; the share-count line above is the net of that, the figure that decides whether owners gained. The average price paid blends a year of purchases (and any accelerated repurchase), so it is close, not exact. The record of where the cash went and on what terms.

Acquisitions & goodwill

from the balance sheet & the 6-year cash-flow record

Goodwill grows only when a company acquires and falls only when it concedes it overpaid. The size of that bet, the cash put into buying rather than building, and how much has already been written off.

Goodwill & intangibles$1.0B68% of all assets; the premium carried on the balance sheet for businesses acquired

Against book equity19%goodwill is this share of book equity; the rest is the company’s own retained and paid-in capital

Cash spent acquiring$1.4Bover 6 years buying other businesses, against $3M of capital spent building

None written down over the record; the goodwill is still carried at full cost. That is the deals holding their value on the books so far; whether they keep doing so is the test an owner watches, since the write-down, when it comes, is the admission the price was too high.

Goodwill, acquired intangibles and equity from the latest balance sheet; acquisition spend and write-downs summed across the 6-year record, from the company's own filings.

Management, ownership & pay

read the proxy →

From the proxy: how much of the business the people running it own, and how they are paid.

Insider ownership4.8%
The stake all directors and executive officers hold together, per the 2026 proxy: skin in the game, the first thing Munger reads.
Stock-based compensation$13M
The slice of the business handed to employees in shares this year, 3% of revenue, equal to 191% of operating profit. Buffett's oldest accounting fight: this is compensation, compensation is an expense, real whether or not the headline earnings admit it. One trap: the cash-flow statement adds SBC back, so the operating cash, and the owner earnings drawn from it, are flattered by exactly this amount; counted as the cost it is, what an owner keeps is lower.

Inverting the record

Invert: instead of why Olaplex Holdings Inc. is a good business, the question is what would make owning it a mistake, and whether those marks are in the record. Disconfirming tests across 2020–2025.

3 of the 5 tests turned up something to look into; the other 2 came back clean.

Look hereIs it less profitable than it was?28.7% vs 38.4%
The owner-earnings margin averaged 38.4% early in the record and 28.7% across the last three years, and the latest year has not recovered. Ask the filing whether that is a structural drift or a cyclical trough — price, mix, cost, or a competitor — and whether it is permanent.
Look hereDid the share count rise anyway?5.2%
Diluted shares grew 5.2% over 2020–2025. Owners were diluted on net; each share owns less of the business than it did. Read the buyback line beside this one, not on its own.
Look hereDid receivables and inventory outpace sales?17% → 24% of sales
Receivables and inventory grew from $48M to $104M while revenue grew 51%: working capital is climbing faster than sales (17% of revenue then, 24% now). That can mean customers paying slower, stock building up, or revenue pulled forward. The filing's cash-flow and receivables notes say which.

And these came back clean

Did debt outgrow the business?
Did reported profit become cash?

Each test is read from the filings and is noisy alone; a flag can mark a cyclical trough or a year of heavy investment as easily as a problem. The filing says which.

What an owner would ask, FY2025

read the 10-K →

Which reported numbers are a judgment call?
Management names Revenue recognition, Income taxes, Inventory as critical estimates
each rests partly on management's judgment; the filing's note sets out the assumptionsverify →

The questions the record and the charts do not answer on their own; each carries the figure and the place to look.

Peers, Personal Care Products

The same industry, side by side on owner economics. Each figure is a through-cycle median, so a peak or trough year can’t distort it; the group median at the foot is the line to read each against.

Company	Revenue	Gross margin	Op. margin	ROIC	Owner earn. margin
ELFe.l.f. Beauty	$1.6B	65%	10.3%	7%	8%
IPARInter Parfums	$1.5B	63%	15.8%	19%	10%
TARSTarsus Pharmaceuticals Inc.	$451M	—	-65.9%	-41%	-46%
OLPXOlaplex Holdings Inc.	$423M	69%	27.1%	7%	35%
INVAInnoviva Inc.	$411M	—	85.6%	44%	63%
ARDXArdelyx Inc.	$407M	87%	-138.7%	-82%	-232%
ESPREsperion Therapeutics Inc.	$403M	—	-62.8%	—	-48%
IMCRImmunocore Holdings plc	$400M	99%	-23.9%	—	-3%
Group median	—	69%	-6.8%	7%	2%

The price

What a price has to assume.

What the price implies

reverse-DCF

Type today's close and see the owner-earnings growth you'd have to believe to justify it, beside what Olaplex Holdings Inc. has delivered.

Today’s price $

Through the cycle, Olaplex Holdings Inc. earns about $147M on its 34.9% median owner-earnings margin. This year’s 13.8% margin runs below that; the reported figure may understate a lean year. Normalize, below, values the price on that through-cycle figure rather than the latest year.

Base Normalize · through-cycle ($147M) Net of stock comp (−$14M) Steady-state · maintenance capex ($69M)

—

The assumptions Required return 9% Years of high growth 10 Terminal growth 2.5%

9.0% = the 4.55% 10-year Treasury (Jul 15, 2026) + 4.45 points of equity premium. The rate you require is yours to set.

Enter a price above to run it.

Implied by the price—

Owner-earnings growth · ’21→’25−18%/yr

Owner-earnings growth · ’20→’25−9%/yr

Owner-earnings yield—

P/E (3-yr earnings ’23–’25)—

P/B—

Graham’s price gate—

Graham capped the multiple at 15×; Buffett and Munger let that rule go: a wonderful business can deserve 50× if the thesis holds. The gate marks the bargain-hunter's floor.

Against a high-grade bond: Graham’s yardstick bond yield%

Prefilled with the 10-year Treasury (4.55%, as of Jul 15, 2026). Edit it for today’s exact figure, or a AAA corporate yield.

Graham measured a stock against the bond you could own instead, the heart of his margin of safety. Enter a price above to weigh the owner-earnings yield against this bond.

Free cash flow $69M on 672M shares outstanding, per the 10-Q cover, as of 2026-05-04; net debt $26M. The base is the latest year by default; Normalize values it on the through-cycle median owner-earnings margin (to avoid paying on a peak year). Net of stock comp treats option pay as the expense it is. Capex ($429K) runs well above depreciation ($340K), so this is a build-out; Steady-state swaps total capex for maintenance (≈ depreciation), lifting the base to about $69M, the cash it would throw off if it stopped expanding. The dials set the multiple a growth belief justifies; the price, and every dollar on this page, is yours.

Weigh OLPX against another business →

The owners of OLPX: the meeting and the votes →

Cite: Owner Scorecard, "Olaplex Holdings Inc. (OLPX), the owner's record," https://ownerscorecard.com/c/OLPX, data as of 2026-07-09.

Manual order: ← OLP its page in the Manual OMC →

Industry order: ← ODD the Personal Care Products chapter YSG →