What is Ulta Beauty's operating income?

Ulta Beauty's total operating income in 2025 was $1.53 billion, based on the following breakdown: Total Gross Profit: $4.85 billion Total Operating Expenses: $3.31 billion

Ulta Beauty (ULTA) Financials

$468.29 +0.55 (+0.12%)

As of 10:31 AM Eastern

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Annual Income Statements for Ulta Beauty

This table shows Ulta Beauty's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/30/2016	1/28/2017	2/3/2018	2/2/2019	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025	1/31/2026
Net Income / (Loss) Attributable to Common Shareholders	320	410	555	659	706	176	986	1,242	1,291	1,201	1,153
Consolidated Net Income / (Loss)	320	410	555	659	706	176	986	1,242	1,291	1,201	1,153
Net Income / (Loss) Continuing Operations	320	410	555	659	706	176	986	1,242	1,291	1,201	1,153
Total Pre-Tax Income	507	656	787	859	906	231	1,296	1,644	1,696	1,580	1,531
Total Operating Income	506	655	785	854	901	237	1,297	1,639	1,678	1,565	1,533
Total Gross Profit	1,384	1,747	2,097	2,409	2,681	1,949	3,369	4,045	4,381	4,387	4,845
Total Revenue	3,924	4,855	5,885	6,717	7,398	6,152	8,631	10,209	11,207	11,296	12,393
Operating Revenue	3,924	4,855	5,885	6,717	7,398	6,152	8,631	10,209	11,207	11,296	12,393
Total Cost of Revenue	2,540	3,108	3,788	4,307	4,717	4,203	5,262	6,164	6,826	6,908	7,548
Operating Cost of Revenue	2,540	3,108	3,788	4,307	4,717	4,203	5,262	6,164	6,826	6,908	7,548
Total Operating Expenses	878	1,092	1,312	1,555	1,780	1,712	2,071	2,406	2,703	2,822	3,312
Selling, General & Admin Expense	863	1,074	1,287	1,535	1,761	1,583	2,062	2,395	2,695	2,809	3,296
Other Special Charges / (Income)	15	19	24	20	19	15	9.52	11	8.51	14	16
Total Other Income / (Expense), net	1.14	0.89	1.57	5.06	5.06	-5.74	-1.66	4.93	18	15	-1.79
Interest & Investment Income	-	0.89	1.57	5.06	5.06	-5.74	-1.66	4.93	18	15	-1.79
Income Tax Expense	187	246	232	201	200	55	310	401	405	379	374
Other Gains / (Losses), net	-	-	-	-	-	-	-	-	0.00	0.00	-3.86
Basic Earnings per Share	$5.00	$6.55	$9.02	$11.00	$12.21	$3.12	$18.09	$24.17	$26.18	$25.44	$25.72
Weighted Average Basic Shares Outstanding	63.95M	62.52M	61.56M	59.86M	57.84M	56.35M	54.48M	51.40M	49.30M	47.21M	44.84M
Diluted Earnings per Share	$4.98	$6.52	$8.96	$10.94	$12.15	$3.11	$17.98	$24.01	$26.03	$25.34	$25.64
Weighted Average Diluted Shares Outstanding	64.28M	62.85M	61.98M	60.18M	58.11M	56.56M	54.84M	51.74M	49.60M	47.40M	44.99M
Weighted Average Basic & Diluted Shares Outstanding	62.62M	62.13M	60.61M	58.80M	56.31M	56.21M	52.33M	50.20M	48.27M	45.31M	43.74M

This table shows Ulta Beauty's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	2/1/2025	5/3/2025	8/2/2025	11/1/2025	1/31/2026	5/2/2026
Net Income / (Loss) Attributable to Common Shareholders	249	394	313	253	242	393	305	261	231	357	340
Consolidated Net Income / (Loss)	249	394	313	253	242	393	305	261	231	357	340
Net Income / (Loss) Continuing Operations	249	394	313	253	242	393	305	261	231	357	340
Total Pre-Tax Income	330	520	408	334	320	518	405	346	305	474	449
Total Operating Income	327	517	401	329	319	516	402	345	309	477	448
Total Gross Profit	992	1,341	1,070	978	1,006	1,334	1,114	1,092	1,156	1,484	1,268
Total Revenue	2,489	3,554	2,726	2,552	2,530	3,488	2,848	2,788	2,858	3,898	3,164
Operating Revenue	2,489	3,554	2,726	2,552	2,530	3,488	2,848	2,788	2,858	3,898	3,164
Total Cost of Revenue	1,497	2,214	1,656	1,574	1,524	2,154	1,734	1,697	1,702	2,415	1,896
Operating Cost of Revenue	1,497	2,214	1,656	1,574	1,524	2,154	1,734	1,697	1,702	2,415	1,896
Total Operating Expenses	665	823	669	649	687	817	712	747	846	1,007	819
Selling, General & Admin Expense	661	820	666	645	682	816	711	742	841	1,003	815
Other Special Charges / (Income)	3.46	3.11	2.92	4.16	4.88	1.73	1.83	5.11	5.33	3.56	4.67
Total Other Income / (Expense), net	2.50	3.33	6.90	4.53	1.67	1.99	3.55	1.41	-4.12	-2.62	0.65
Interest & Investment Income	2.50	3.33	6.90	4.53	1.67	1.99	3.55	1.41	-4.12	-2.62	0.65
Income Tax Expense	80	126	95	81	78	125	100	85	73	116	107
Other Gains / (Losses), net	-	-	0.00	0.00	0.00	-	-0.63	-0.60	-0.99	-1.65	-1.58
Basic Earnings per Share	$5.09	$8.12	$6.51	$5.32	$5.16	$8.45	$6.72	$5.80	$5.16	$8.04	$7.78
Weighted Average Basic Shares Outstanding	49.01M	49.30M	48.13M	47.51M	46.93M	47.21M	45.36M	44.96M	44.73M	44.84M	43.78M
Diluted Earnings per Share	$5.07	$8.06	$6.47	$5.30	$5.14	$8.43	$6.70	$5.78	$5.14	$8.02	$7.74
Weighted Average Diluted Shares Outstanding	49.23M	49.60M	48.38M	47.67M	47.09M	47.40M	45.51M	45.11M	44.90M	44.99M	43.96M
Weighted Average Basic & Diluted Shares Outstanding	48.56M	48.27M	47.72M	47.11M	46.37M	45.31M	44.95M	44.84M	44.36M	43.74M	42.99M

This table details how cash moves in and out of Ulta Beauty's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/30/2016	1/28/2017	2/3/2018	2/2/2019	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025	1/31/2026
Net Change in Cash & Equivalents	-43	39	-108	132	-17	654	-614	306	29	-63	-279
Net Cash From Operating Activities	376	634	779	956	1,101	810	1,059	1,482	1,476	1,339	1,503
Net Cash From Continuing Operating Activities	376	634	779	956	1,101	810	1,059	1,482	1,476	1,339	1,503
Net Income / (Loss) Continuing Operations	320	410	555	659	706	176	986	1,242	1,291	1,201	1,153
Consolidated Net Income / (Loss)	320	410	555	659	706	176	986	1,242	1,291	1,201	1,153
Depreciation Expense	165	210	253	279	296	298	268	241	244	267	301
Non-Cash Adjustments To Reconcile Net Income	9.79	19	32	30	310	375	329	27	392	31	51
Changes in Operating Assets and Liabilities, net	-119	-5.10	-60	-11	-210	-38	-524	-29	-451	-161	-2.20
Net Cash From Investing Activities	-279	-273	-531	-215	-471	-49	-176	-315	-441	-383	-931
Net Cash From Continuing Investing Activities	-279	-273	-531	-215	-471	-49	-176	-315	-441	-383	-931
Purchase of Property, Plant & Equipment	-299	-373	-441	-319	-299	-152	-172	-312	-435	-374	-435
Acquisitions	-	0.00	0.00	-16	0.00	-1.22	-	-	0.00	0.00	-387
Purchase of Investments	-130	-90	-330	-386	-110	-	-	-	0.00	0.00	-70
Sale and/or Maturity of Investments	150	190	240	506	-63	104	-4.30	-2.46	-6.16	-8.63	-40
Net Cash From Financing Activities	-140	-322	-356	-609	-647	-108	-1,497	-861	-1,006	-1,019	-851
Net Cash From Continuing Financing Activities	-140	-322	-356	-609	-647	-108	-1,497	-861	-1,006	-1,019	-851
Repayment of Debt	0.00	0.00	-0.58	0.00	0.00	-802	0.00	0.00	-195	-204	-2,183
Repurchase of Common Equity	-167	-344	-368	-616	-681	-115	-1,522	-900	-996	-1,003	-901
Issuance of Debt	-	-	-	0.00	0.00	800	0.00	0.00	195	200	2,215
Other Financing Activities, net	27	23	12	6.98	34	8.88	25	39	-10	-11	19
Other Net Changes in Cash	-	-	-	-	-	-	-	-	-	0.00	0.27
Cash Interest Paid	-	-	-	0.00	0.00	6.99	2.13	2.14	3.33	4.16	9.67
Cash Income Taxes Paid	179	213	255	196	134	19	371	430	328	386	382

This table details how cash moves in and out of Ulta Beauty's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	2/1/2025	5/3/2025	8/2/2025	11/1/2025	1/31/2026	5/2/2026
Net Change in Cash & Equivalents	-267	645	-242	-111	-236	525	-249	-212	-38	219	-258
Net Cash From Operating Activities	-71	1,118	159	200	-57	1,037	220	97	5.64	1,181	262
Net Cash From Continuing Operating Activities	-71	1,118	159	200	-57	1,037	220	95	6.87	1,181	262
Net Income / (Loss) Continuing Operations	249	394	313	253	242	393	305	261	231	357	340
Consolidated Net Income / (Loss)	249	394	313	253	242	393	305	261	231	357	340
Depreciation Expense	61	63	65	65	67	70	72	71	76	82	81
Non-Cash Adjustments To Reconcile Net Income	94	120	91	-74	254	-240	104	105	92	-250	108
Changes in Operating Assets and Liabilities, net	-476	541	-310	-45	-620	813	-261	-341	-392	992	-268
Net Cash From Investing Activities	-109	-126	-94	-98	-115	-76	-86	-474	-96	-276	-48
Net Cash From Continuing Investing Activities	-109	-126	-94	-98	-115	-76	-86	-474	-96	-276	-48
Purchase of Property, Plant & Equipment	-106	-124	-91	-95	-114	-74	-79	-77	-87	-192	-58
Sale and/or Maturity of Investments	-3.18	-1.29	-2.56	-2.53	-1.02	-2.52	-7.35	-9.78	-8.32	-14	10
Net Cash From Financing Activities	-87	-348	-308	-212	-64	-435	-382	165	52	-686	-471
Net Cash From Continuing Financing Activities	-87	-348	-308	-212	-64	-435	-382	165	52	-686	-471
Repayment of Debt	-	-	-3.95	-0.14	-0.07	-200	0.00	-333	-786	-1,064	-32
Repurchase of Common Equity	-282	-155	-289	-212	-264	-238	-370	-109	-225	-197	-545
Issuance of Debt	-	-	-	-	-	-	0.00	-	1,048	573	116
Other Financing Activities, net	-0.41	2.64	-14	0.11	-0.10	2.94	-12	14	15	2.32	-9.45
Effect of Exchange Rate Changes	-	-	-	-	-	-	0.00	-	-	-	-0.19
Cash Income Taxes Paid	78	61	5.06	228	84	69	7.02	245	74	55	3.51

This table presents Ulta Beauty's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/30/2016	1/28/2017	2/3/2018	2/2/2019	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025	1/31/2026
Total Assets	2,231	2,552	2,909	3,191	4,864	5,090	4,764	5,370	5,707	6,002	6,999
Total Current Assets	1,375	1,536	1,694	1,915	2,055	2,515	2,281	2,709	2,837	3,029	3,144
Cash & Equivalents	346	385	277	409	392	1,046	432	738	767	703	424
Short-Term Investments	130	30	120	0.00	110	-	-	-	-	0.00	70
Accounts Receivable	65	89	100	136	139	193	234	199	208	223	296
Inventories, net	762	944	1,096	1,214	1,294	1,168	1,499	1,603	1,742	1,968	2,181
Prepaid Expenses	73	89	99	138	104	107	111	130	116	129	169
Current Deferred & Refundable Income Taxes	-	0.00	1.49	17	16	0.00	5.91	38	4.25	4.95	3.20
Plant, Property, & Equipment, net	848	1,004	1,189	1,226	1,206	996	914	1,009	1,182	1,239	1,434
Total Noncurrent Assets	8.15	11	25	50	1,603	1,579	1,569	1,652	1,688	1,734	2,421
Goodwill	-	-	0.00	11	11	11	11	11	11	11	226
Intangible Assets	-	-	0.00	4.32	3.39	2.47	1.54	1.31	0.51	0.20	203
Employee Benefit Assets	8.15	11	17	21	28	33	38	35	44	48	53
Other Noncurrent Operating Assets	-	0.00	8.66	15	1,561	1,533	1,518	1,604	1,633	1,675	1,938
Total Liabilities & Shareholders' Equity	2,231	2,552	2,909	3,191	4,864	5,090	4,764	5,370	5,707	6,002	6,999
Total Liabilities	788	1,002	1,134	1,371	2,962	3,090	3,229	3,411	3,428	3,513	4,196
Total Current Liabilities	396	529	642	824	1,137	1,344	1,558	1,682	1,658	1,779	2,224
Short-Term Debt	-	-	-	0.00	240	253	274	283	284	0.00	62
Accounts Payable	196	260	326	404	414	477	553	560	544	564	686
Accrued Expenses	187	261	189	221	246	296	365	444	382	380	551
Current Deferred Revenue	-	-	113	199	238	274	354	395	437	501	582
Current Deferred & Payable Income Tax Liabilities	13	8.97	14	-	0.00	43	13	0.00	11	47	36
Other Current Liabilities	-	-	-	-	-	-	-	-	-	288	307
Total Noncurrent Liabilities	392	472	492	547	1,825	1,747	1,671	1,729	1,769	1,734	1,972
Noncurrent Deferred & Payable Income Tax Liabilities	60	86	59	84	89	65	40	55	86	43	99
Other Noncurrent Operating Liabilities	10	20	25	28	36	38	59	54	56	1,691	1,873
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,443	1,550	1,774	1,820	1,902	2,000	1,535	1,960	2,279	2,488	2,803
Total Preferred & Common Equity	1,443	1,550	1,774	1,820	1,902	2,000	1,535	1,960	2,279	2,488	2,803
Total Common Equity	1,443	1,550	1,774	1,820	1,902	2,000	1,535	1,960	2,279	2,488	2,803
Common Stock	622	659	700	739	808	848	935	1,025	1,076	1,121	1,183
Retained Earnings	832	906	1,093	1,106	1,128	1,189	653	996	1,287	1,474	1,737
Treasury Stock	-12	-15	-19	-25	-34	-38	-53	-60	-83	-107	-120
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	0.00	0.06	-	-	-	0.00	3.76

This table presents Ulta Beauty's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	4/29/2023	7/29/2023	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	5/3/2025	8/2/2025	11/1/2025	5/2/2026
Total Assets	5,376	5,249	5,595	5,707	5,632	5,737	5,958	5,987	6,631	7,012	6,895
Total Current Assets	2,686	2,519	2,792	2,837	2,761	2,799	2,955	2,940	3,069	3,371	3,022
Cash & Equivalents	636	389	122	767	525	414	178	455	243	205	166
Short-Term Investments	-	-	-	-	-	-	-	0.00	-	-	55
Accounts Receivable	190	174	203	208	203	201	214	225	224	237	248
Inventories, net	1,751	1,816	2,321	1,742	1,906	1,998	2,365	2,122	2,407	2,744	2,386
Prepaid Expenses	108	111	117	116	127	132	136	138	166	158	166
Current Deferred & Refundable Income Taxes	0.00	30	29	4.25	0.00	54	63	0.00	29	26	0.00
Plant, Property, & Equipment, net	1,020	1,073	1,118	1,182	1,196	1,226	1,264	1,251	1,333	1,367	1,420
Total Noncurrent Assets	1,670	1,656	1,685	1,688	1,676	1,713	1,739	1,796	2,229	2,275	2,454
Goodwill	11	11	11	11	11	11	11	11	393	393	225
Intangible Assets	1.02	0.72	0.59	0.51	0.43	0.36	0.28	0.00	5.47	6.09	202
Employee Benefit Assets	37	40	38	44	46	46	49	47	51	53	53
Other Noncurrent Operating Assets	1,621	1,605	1,635	1,633	1,619	1,655	1,679	1,737	1,780	1,824	1,975
Total Liabilities & Shareholders' Equity	5,376	5,249	5,595	5,707	5,632	5,737	5,958	5,987	6,631	7,012	6,895
Total Liabilities	3,358	3,197	3,566	3,428	3,331	3,389	3,629	3,556	4,027	4,379	4,314
Total Current Liabilities	1,634	1,491	1,837	1,658	1,573	1,591	1,816	1,764	2,201	2,538	2,304
Short-Term Debt	288	287	195	0.00	285	0.00	200	0.00	289	552	145
Accounts Payable	621	521	597	544	464	567	593	538	709	759	714
Accrued Expenses	309	328	405	382	333	348	333	347	460	474	462
Current Deferred Revenue	357	354	351	437	399	395	405	463	460	463	541
Current Deferred & Payable Income Tax Liabilities	59	0.00	0.00	11	93	0.00	0.00	131	0.00	0.00	133
Other Current Liabilities	-	-	288	284	-	281	285	286	283	291	310
Total Noncurrent Liabilities	1,724	1,706	1,730	1,769	1,758	1,798	1,813	1,793	1,826	1,841	2,010
Noncurrent Deferred & Payable Income Tax Liabilities	57	56	57	86	90	88	92	46	49	45	101
Other Noncurrent Operating Liabilities	56	57	1,673	1,684	61	1,710	1,721	1,747	1,777	1,796	1,909
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,018	2,052	2,029	2,279	2,301	2,348	2,329	2,430	2,604	2,633	2,581
Total Preferred & Common Equity	2,018	2,052	2,029	2,279	2,301	2,348	2,329	2,430	2,604	2,633	2,581
Total Common Equity	2,018	2,052	2,029	2,279	2,301	2,348	2,329	2,430	2,604	2,633	2,581
Common Stock	1,041	1,050	1,059	1,076	1,092	1,100	1,105	1,130	1,152	1,176	1,190
Retained Earnings	1,059	1,084	1,052	1,287	1,315	1,355	1,330	1,420	1,572	1,578	1,522
Treasury Stock	-82	-82	-83	-83	-106	-106	-107	-120	-120	-120	-131
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	-	-	-	0.00	-	-	0.09

This table displays calculated financial ratios and metrics derived from Ulta Beauty's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/30/2016	1/28/2017	2/3/2018	2/2/2019	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025	1/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	44,362,172.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	44,362,172.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	26.00
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	319	409	554	655	702	180	987	1,239	1,278	1,190	1,159
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	26.97%	40.43%
Earnings before Interest and Taxes (EBIT)	506	655	785	854	901	237	1,297	1,639	1,678	1,565	1,533
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	671	865	1,038	1,134	1,197	535	1,566	1,880	1,922	1,832	1,834
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-64	241	313	620	-1,225	668	887	1,064	979	905	572
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	967	1,135	1,377	1,411	3,338	2,850	2,951	3,125	3,424	3,708	2,371
Increase / (Decrease) in Invested Capital	383	168	242	34	1,927	-488	100	175	299	285	586
Book Value per Share	$22.65	$24.91	$29.09	$30.69	$33.28	$35.49	$28.37	$38.52	$46.94	$53.66	$63.19
Tangible Book Value per Share	$22.65	$24.91	$29.09	$30.43	$33.03	$35.25	$28.14	$38.28	$46.70	$53.42	$53.51
Total Capital	1,443	1,550	1,774	1,820	3,840	3,896	3,382	3,863	4,190	4,412	2,866
Total Debt	0.00	0.00	0.00	0.00	1,938	1,897	1,847	1,903	1,911	1,923	62
Total Long-Term Debt	0.00	0.00	0.00	0.00	1,699	1,643	1,573	1,620	1,627	1,635	0.00
Net Debt	-476	-415	-397	-409	1,436	851	1,415	1,165	1,144	1,220	-432
Capital Expenditures (CapEx)	299	373	441	319	299	152	172	312	435	374	435
Debt-free, Cash-free Net Working Capital (DFCFNWC)	503	592	654	682	655	378	566	573	696	834	488
Debt-free Net Working Capital (DFNWC)	979	1,007	1,052	1,091	1,158	1,424	997	1,311	1,462	1,537	982
Net Working Capital (NWC)	979	1,007	1,052	1,091	918	1,171	723	1,028	1,178	1,249	920
Net Nonoperating Expense (NNE)	-0.72	-0.56	-1.11	-3.88	-3.94	4.36	1.27	-3.73	-13	-11	5.21
Net Nonoperating Obligations (NNO)	-476	-415	-397	-409	1,436	851	1,415	1,165	1,144	1,220	-432
Total Depreciation and Amortization (D&A)	165	210	253	279	296	298	268	241	244	267	301
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.00	$0.00	$0.00	$0.00	$12.21	$0.00	$18.09	$24.17	$26.18	$25.44	$25.72
Adjusted Weighted Average Basic Shares Outstanding	64.34M	0.00	0.00	0.00	57.84M	0.00	54.48M	51.40M	49.30M	47.21M	44.84M
Adjusted Diluted Earnings per Share	$3.98	$0.00	$0.00	$0.00	$12.15	$0.00	$17.98	$24.01	$26.03	$25.34	$25.64
Adjusted Weighted Average Diluted Shares Outstanding	64.65M	0.00	0.00	0.00	58.11M	0.00	54.84M	51.74M	49.60M	47.40M	44.99M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	64.23M	0.00	0.00	0.00	56.31M	0.00	52.33M	50.20M	48.27M	45.31M	43.74M
Normalized Net Operating Profit after Tax (NOPAT)	329	421	571	670	717	279	994	1,247	1,284	1,200	1,171
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Ulta Beauty's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	2/1/2025	5/3/2025	8/2/2025	11/1/2025	1/31/2026	5/2/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	44,362,172.00	43,736,630.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	44,362,172.00	43,736,630.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	8.04	7.78
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.42%	10.15%	3.48%	0.88%	1.65%	-1.88%	4.49%	9.26%	12.95%	-	11.08%
EBITDA Growth	-7.54%	14.37%	-6.87%	-13.02%	-0.80%	1.14%	1.74%	5.45%	-0.08%	-	11.79%
EBIT Growth	-9.57%	15.52%	-9.30%	-15.94%	-2.67%	-0.15%	0.21%	4.75%	-2.85%	-	11.57%
NOPAT Growth	-9.62%	16.12%	-9.83%	-16.04%	-2.70%	-0.02%	-1.56%	4.53%	-2.46%	-	12.72%
Net Income Growth	-9.14%	15.74%	-9.78%	-15.84%	-2.93%	-0.28%	-2.57%	3.29%	-4.67%	-	11.61%
EPS Growth	-5.06%	20.84%	-5.96%	-11.96%	1.38%	4.59%	3.55%	9.06%	0.00%	-	15.52%
Operating Cash Flow Growth	-316.11%	23.09%	-47.74%	61.04%	19.72%	-7.31%	38.08%	-51.63%	109.92%	-	19.03%
Free Cash Flow Firm Growth	-110.03%	-42.83%	-2,901.94%	-27.15%	-965.65%	15.10%	125.95%	-124.51%	-4,896.65%	-	-109.38%
Invested Capital Growth	25.75%	9.56%	11.86%	9.02%	104.18%	8.31%	7.69%	37.02%	26.75%	-	26.77%
Revenue Q/Q Growth	-1.62%	42.80%	-23.31%	-6.37%	-0.86%	37.85%	-18.33%	-2.10%	2.48%	-	-18.84%
EBITDA Q/Q Growth	-14.31%	49.15%	-19.66%	-15.28%	-2.28%	52.08%	-19.18%	-12.20%	-7.41%	-	-5.20%
EBIT Q/Q Growth	-16.45%	58.02%	-22.46%	-17.89%	-3.25%	62.11%	-22.18%	-14.17%	-10.28%	-	-6.01%
NOPAT Q/Q Growth	-16.56%	58.26%	-21.44%	-19.06%	-3.30%	62.61%	-22.65%	-14.06%	-9.76%	-	-5.21%
Net Income Q/Q Growth	-16.87%	58.07%	-20.60%	-19.34%	-4.11%	62.39%	-22.43%	-14.48%	-11.50%	-	-4.54%
EPS Q/Q Growth	-15.78%	58.97%	-19.73%	-18.08%	-3.02%	64.01%	-20.52%	-13.73%	-11.07%	-	-3.49%
Operating Cash Flow Q/Q Growth	-157.14%	1,679.52%	-85.75%	25.23%	-128.48%	1,923.72%	-78.77%	-56.13%	-94.16%	-	-77.82%
Free Cash Flow Firm Q/Q Growth	-230.28%	150.92%	-187.07%	13.16%	-2,668.05%	105.50%	-80.37%	-2,265.15%	13.55%	-	17.12%
Invested Capital Q/Q Growth	-40.68%	62.87%	7.16%	5.30%	11.11%	-13.60%	6.54%	-32.92%	12.44%	-	5.61%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.86%	37.72%	39.25%	38.33%	39.75%	38.24%	39.12%	39.15%	40.44%	-	40.07%
EBITDA Margin	15.61%	16.31%	17.08%	15.46%	15.24%	16.81%	16.63%	14.92%	13.48%	-	16.74%
Operating Margin	13.15%	14.55%	14.71%	12.90%	12.59%	14.80%	14.11%	12.37%	10.83%	-	14.17%
EBIT Margin	13.15%	14.55%	14.71%	12.90%	12.59%	14.80%	14.11%	12.37%	10.83%	-	14.17%
Profit (Net Income) Margin	10.02%	11.10%	11.49%	9.90%	9.57%	11.28%	10.71%	9.36%	8.08%	-	10.76%
Tax Burden Percent	75.66%	75.78%	76.77%	75.68%	75.64%	75.87%	75.26%	75.34%	75.62%	-	75.84%
Interest Burden Percent	100.76%	100.64%	101.72%	101.37%	100.53%	100.39%	100.88%	100.41%	98.67%	-	100.15%
Effective Tax Rate	24.34%	24.22%	23.23%	24.32%	24.36%	24.13%	24.58%	24.49%	24.05%	-	23.80%
Return on Invested Capital (ROIC)	57.36%	37.73%	36.72%	29.84%	33.84%	35.58%	31.88%	47.48%	36.97%	-	61.24%
ROIC Less NNEP Spread (ROIC-NNEP)	55.22%	37.95%	37.13%	30.07%	33.96%	35.71%	32.02%	47.23%	34.73%	-	61.65%
Return on Net Nonoperating Assets (RNNOA)	-2.47%	20.68%	22.61%	20.55%	15.88%	17.71%	19.55%	-3.51%	2.58%	-	-6.53%
Return on Equity (ROE)	54.88%	58.41%	59.33%	50.39%	49.71%	53.29%	51.43%	43.98%	39.55%	-	54.71%
Cash Return on Invested Capital (CROIC)	42.01%	29.89%	24.61%	23.68%	-31.29%	25.38%	23.70%	20.94%	21.06%	-	29.84%
Operating Return on Assets (OROA)	26.18%	29.44%	30.20%	26.59%	24.76%	28.56%	27.72%	23.31%	20.01%	-	27.95%
Return on Assets (ROA)	19.96%	22.45%	23.58%	20.40%	18.83%	21.76%	21.05%	17.63%	14.93%	-	21.23%
Return on Common Equity (ROCE)	54.88%	58.41%	59.33%	50.39%	49.71%	53.29%	51.43%	43.98%	39.55%	-	54.71%
Return on Equity Simple (ROE_SIMPLE)	61.00%	0.00%	54.64%	51.51%	51.62%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	248	392	308	249	241	392	303	260	235	360	342
NOPAT Margin	9.95%	11.02%	11.29%	9.76%	9.52%	11.23%	10.64%	9.34%	8.22%	-	10.80%
Net Nonoperating Expense Percent (NNEP)	2.13%	-0.22%	-0.40%	-0.23%	-0.12%	-0.13%	-0.14%	0.26%	2.23%	-	-0.41%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	8.88%	6.88%	9.00%	7.38%	12.57%	12.53%
Cost of Revenue to Revenue	60.14%	62.28%	60.75%	61.67%	60.25%	61.76%	60.88%	60.85%	59.56%	-	59.93%
SG&A Expenses to Revenue	26.57%	23.08%	24.43%	25.27%	26.97%	23.39%	24.95%	26.60%	29.43%	-	25.75%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Expenses to Revenue	26.71%	23.17%	24.54%	25.43%	27.16%	23.44%	25.01%	26.78%	29.61%	-	25.90%
Earnings before Interest and Taxes (EBIT)	327	517	401	329	319	516	402	345	309	477	448
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	389	580	466	395	386	586	474	416	385	559	530
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	9.22	10.77	8.34	6.93	7.64	7.68	7.38	8.76	8.85	-	9.01
Price to Tangible Book Value (P/TBV)	9.27	10.82	8.38	6.96	7.68	7.72	7.41	10.35	10.43	-	10.80
Price to Revenue (P/Rev)	1.72	2.19	1.70	1.44	1.57	1.69	1.57	1.96	1.95	-	1.83
Price to Earnings (P/E)	15.11	19.01	15.26	13.45	14.80	15.91	15.03	19.00	19.59	-	19.57
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Earnings Yield	6.62%	5.26%	6.55%	7.43%	6.76%	6.28%	6.65%	5.26%	5.11%	-	5.11%
Enterprise Value to Invested Capital (EV/IC)	8.93	7.50	5.60	4.60	4.60	5.48	4.92	8.63	7.94	-	9.26
Enterprise Value to Revenue (EV/Rev)	1.73	2.29	1.82	1.57	1.74	1.80	1.70	1.96	1.97	-	1.82
Enterprise Value to EBITDA (EV/EBITDA)	10.15	13.36	10.89	9.73	10.82	11.10	10.57	12.28	12.71	-	12.27
Enterprise Value to EBIT (EV/EBIT)	11.67	15.31	12.55	11.30	12.62	12.99	12.42	14.46	15.05	-	14.68
Enterprise Value to NOPAT (EV/NOPAT)	15.35	20.10	16.52	14.87	16.61	17.09	16.42	19.12	19.88	-	19.37
Enterprise Value to Operating Cash Flow (EV/OCF)	14.82	17.40	15.44	12.65	13.91	15.19	13.90	17.64	17.41	-	15.01
Enterprise Value to Free Cash Flow (EV/FCFF)	23.68	26.24	24.03	20.28	0.00	22.46	21.55	47.63	42.15	-	34.70
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.10	0.84	0.82	0.82	0.92	0.77	0.81	0.11	0.21	-	0.06
Long-Term Debt to Equity	0.00	0.71	0.70	0.70	0.71	0.66	0.70	0.00	0.00	-	0.00
Financial Leverage	-0.04	0.54	0.61	0.68	0.47	0.50	0.61	-0.07	0.07	-	-0.11
Leverage Ratio	2.77	2.61	2.55	2.50	2.65	2.46	2.46	2.50	2.61	-	2.57
Compound Leverage Factor	2.79	2.63	2.59	2.53	2.67	2.47	2.48	2.51	2.58	-	2.57
Debt to Total Capital	8.79%	45.61%	45.14%	45.10%	47.90%	43.60%	44.83%	9.99%	17.32%	-	5.32%
Short-Term Debt to Total Capital	8.79%	6.77%	6.79%	6.58%	10.84%	6.53%	6.49%	9.99%	17.32%	-	5.32%
Long-Term Debt to Total Capital	0.00%	38.83%	38.34%	38.52%	37.05%	37.06%	38.35%	0.00%	0.00%	-	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Common Equity to Total Capital	91.21%	54.39%	54.86%	54.90%	52.10%	56.40%	55.17%	90.01%	82.68%	-	94.68%
Debt to EBITDA	0.11	0.99	1.00	1.06	1.17	1.05	1.07	0.16	0.30	-	0.08
Net Debt to EBITDA	0.04	0.60	0.72	0.83	1.08	0.67	0.83	0.02	0.19	-	-0.04
Long-Term Debt to EBITDA	0.00	0.85	0.85	0.90	0.91	0.89	0.92	0.00	0.00	-	0.00
Debt to NOPAT	0.16	1.50	1.52	1.61	1.80	1.62	1.67	0.24	0.46	-	0.12
Net Debt to NOPAT	0.06	0.90	1.10	1.27	1.65	1.03	1.28	0.04	0.29	-	-0.06
Long-Term Debt to NOPAT	0.00	1.27	1.29	1.38	1.39	1.37	1.43	0.00	0.00	-	0.00
Altman Z-Score	5.75	7.12	6.28	5.63	5.57	6.02	5.72	5.82	5.51	-	5.73
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.52	1.71	1.76	1.76	1.63	1.70	1.67	1.39	1.33	-	1.31
Quick Ratio	0.18	0.59	0.46	0.39	0.22	0.52	0.39	0.21	0.17	-	0.20
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-183	93	-81	-70	-1,949	107	21	-456	-394	-226	-187
Operating Cash Flow to CapEx	-66.61%	900.10%	175.05%	209.43%	-49.76%	1,402.24%	278.40%	125.42%	6.46%	-	449.40%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.99	2.02	2.05	2.06	1.97	1.93	1.97	1.88	1.85	-	1.97
Accounts Receivable Turnover	53.97	55.02	57.39	60.33	54.56	52.38	53.28	54.81	53.14	-	53.69
Inventory Turnover	2.99	4.08	3.77	3.64	2.97	3.72	3.47	3.23	2.85	-	3.42
Fixed Asset Turnover	10.44	10.23	10.20	9.85	9.54	9.33	9.33	9.11	9.11	-	9.51
Accounts Payable Turnover	10.65	12.37	12.72	12.76	11.71	12.47	13.95	11.15	10.78	-	12.32
Days Sales Outstanding (DSO)	6.76	6.63	6.36	6.05	6.69	6.97	6.85	6.66	6.87	-	6.80
Days Inventory Outstanding (DIO)	122.17	89.45	96.69	100.28	122.74	98.02	105.21	113.09	127.95	-	106.71
Days Payable Outstanding (DPO)	34.27	29.50	28.69	28.61	31.18	29.26	26.16	32.74	33.87	-	29.62
Cash Conversion Cycle (CCC)	94.66	66.58	74.37	77.72	98.25	75.72	85.90	87.00	100.95	-	83.89
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,102	3,424	3,669	3,863	4,292	3,708	3,951	2,650	2,980	2,371	2,505
Invested Capital Turnover	5.77	3.42	3.25	3.06	3.55	3.17	3.00	5.08	4.50	-	5.67
Increase / (Decrease) in Invested Capital	431	299	389	320	2,190	285	282	716	629	586	529
Enterprise Value (EV)	18,774	25,684	20,550	17,787	19,756	20,332	19,455	22,867	23,657	-	23,189
Market Capitalization	18,700	24,540	19,182	16,272	17,793	19,112	17,934	22,820	23,311	-	23,266
Book Value per Share	$41.21	$46.94	$47.67	$49.21	$49.43	$53.66	$53.64	$57.93	$58.72	$63.19	$59.01
Tangible Book Value per Share	$40.97	$46.70	$47.43	$48.98	$49.20	$53.42	$53.40	$49.08	$49.83	$53.51	$49.27
Total Capital	2,224	4,190	4,194	4,277	4,470	4,412	4,406	2,893	3,185	2,866	2,726
Total Debt	195	1,911	1,893	1,929	2,141	1,923	1,975	289	552	62	145
Total Long-Term Debt	0.00	1,627	1,608	1,648	1,656	1,635	1,689	0.00	0.00	0.00	0.00
Net Debt	74	1,144	1,368	1,515	1,963	1,220	1,521	46	347	-432	-76
Capital Expenditures (CapEx)	106	124	91	95	114	74	79	77	87	192	58
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,029	696	948	1,075	1,445	834	1,007	915	1,179	488	641
Debt-free Net Working Capital (DFNWC)	1,151	1,462	1,473	1,489	1,623	1,537	1,462	1,157	1,384	982	862
Net Working Capital (NWC)	955	1,178	1,188	1,208	1,138	1,249	1,176	868	832	920	718
Net Nonoperating Expense (NNE)	-1.89	-2.52	-5.30	-3.43	-1.27	-1.51	-2.05	-0.47	4.12	3.63	1.08
Net Nonoperating Obligations (NNO)	74	1,144	1,368	1,515	1,963	1,220	1,521	46	347	-432	-76
Total Depreciation and Amortization (D&A)	61	63	65	65	67	70	72	71	76	82	81
Debt-free, Cash-free Net Working Capital to Revenue	9.46%	6.21%	8.39%	9.49%	12.72%	7.39%	8.82%	7.85%	9.84%	-	5.04%
Debt-free Net Working Capital to Revenue	10.57%	13.05%	13.03%	13.15%	14.29%	13.61%	12.80%	9.93%	11.55%	-	6.79%
Net Working Capital to Revenue	8.78%	10.51%	10.51%	10.67%	10.02%	11.06%	10.30%	7.45%	6.95%	-	5.65%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$5.09	$8.12	$6.51	$5.32	$5.16	$8.45	$6.72	$5.80	$5.16	$8.04	$7.78
Adjusted Weighted Average Basic Shares Outstanding	49.01M	49.30M	48.13M	47.51M	46.93M	47.21M	45.36M	44.96M	44.73M	44.84M	43.78M
Adjusted Diluted Earnings per Share	$5.07	$8.06	$6.47	$5.30	$5.14	$8.43	$6.70	$5.78	$5.14	$8.02	$7.74
Adjusted Weighted Average Diluted Shares Outstanding	49.23M	49.60M	48.38M	47.67M	47.09M	47.40M	45.51M	45.11M	44.90M	44.99M	43.96M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	48.56M	48.27M	47.72M	47.11M	46.37M	45.31M	44.95M	44.84M	44.36M	43.74M	42.99M
Normalized Net Operating Profit after Tax (NOPAT)	250	394	310	252	245	393	304	264	239	363	345
Normalized NOPAT Margin	10.05%	11.09%	11.37%	9.89%	9.67%	11.27%	10.69%	9.48%	8.36%	-	10.91%
Pre Tax Income Margin	13.25%	14.64%	14.96%	13.08%	12.65%	14.86%	14.23%	12.42%	10.68%	-	14.19%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Augmented Payout Ratio	94.45%	77.13%	79.68%	77.59%	76.57%	83.53%	90.83%	81.64%	79.15%	-	90.58%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways from Ulta Beauty's quarterly statements over the last four years, focused on trends that may matter to investors.

Revenue growth: Q4 2025 operating revenue was about $3.898B, up from about $3.226B in Q4 2022, indicating a multi-year top-line expansion.
Gross margin stability: Q4 2025 gross profit was about $1.483B on $3.898B in revenue, a margin near 38%, consistent with recent years and signaling stable profitability.
Cash flow strength: Net cash from continuing operating activities in Q4 2025 was about $1.18B, underscoring solid operating cash generation.
Free cash flow potential: CFO around $1.18B minus capex of about $191.6M in Q4 2025 implies roughly $0.99B of quarterly free cash flow, supporting liquidity and potential investor returns.
Share repurchases: Ulta has been actively returning capital in 2025, with buybacks across Q1–Q4 2025 totaling roughly $0.9B (Q1: $369.8M; Q2: $109.5M; Q3: $224.7M; Q4: $197.4M).
Balance sheet expansion: Total assets rose to about $7.01B by Q3 2025, with total equity around $2.63B, suggesting a stronger capitalization base.
Capex discipline: 2025 capex (PPE purchases) ranged roughly from $77M to $192M per quarter, indicating ongoing reinvestment rather than cash hoarding.
Net income pressure: Q4 2025 net income attributable to common shareholders was about $356.7M, down from about $393.3M in Q4 2024, suggesting quarterly earnings pressure despite higher revenue.
Cost pressure: Selling, general and administrative expenses rose to about $1.003B in Q4 2025 from about $0.816B in Q4 2024, contributing to margin compression.
Rising leverage and liquidity questions: Short-term debt grew to about $289.1M in Q2 2025 and $551.7M in Q3 2025, and cash balances fell markedly through mid-2025 (cash and equivalents declined from roughly $2.94B in Q1 2025 to about $205M by Q3 2025), highlighting higher leverage and tighter liquidity.

06/15/26 09:20 AM ETAI Generated. May Contain Errors.

Ulta Beauty Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Ulta Beauty's fiscal year ends in January. Their fiscal year 2026 ended on January 31, 2026.

Ulta Beauty's net income appears to be on an upward trend, with a most recent value of $1.15 billion in 2025, rising from $320.01 million in 2015. The previous period was $1.20 billion in 2024. Find out what analysts predict for Ulta Beauty in the coming months.

Ulta Beauty's total operating income in 2025 was $1.53 billion, based on the following breakdown:

Total Gross Profit: $4.85 billion
Total Operating Expenses: $3.31 billion

Over the last 10 years, Ulta Beauty's total revenue changed from $3.92 billion in 2015 to $12.39 billion in 2025, a change of 215.8%.

Ulta Beauty's total liabilities were at $4.20 billion at the end of 2025, a 19.4% increase from 2024, and a 432.4% increase since 2015.

In the past 10 years, Ulta Beauty's cash and equivalents has ranged from $277.45 million in 2017 to $1.05 billion in 2020, and is currently $424.24 million as of their latest financial filing in 2025.

Over the last 10 years, Ulta Beauty's book value per share changed from 22.65 in 2015 to 63.19 in 2025, a change of 179.0%.

Related Companies

Financial statements for NASDAQ:ULTA last updated on 6/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Ulta Beauty (ULTA) Financials

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Ulta Beauty (ULTA) Financials

Annual Income Statements for Ulta Beauty

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Annual Cash Flow Statements for Ulta Beauty

Quarterly Cash Flow Statements for Ulta Beauty

Annual Balance Sheets for Ulta Beauty

Quarterly Balance Sheets for Ulta Beauty

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Quarterly Metrics And Ratios for Ulta Beauty

Financials Breakdown Chart

Key Financial Trends

Ulta Beauty Financials - Frequently Asked Questions

When does Ulta Beauty's financial year end?

How has Ulta Beauty's net income changed over the last 10 years?

What is Ulta Beauty's operating income?

How has Ulta Beauty's revenue changed over the last 10 years?

How much debt does Ulta Beauty have?

How much cash does Ulta Beauty have?

How has Ulta Beauty's book value per share changed over the last 10 years?

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