Ulta Beauty (ULTA) Financials

$414.40 +4.31 (+1.05%)

As of 05/20/2025 04:00 PM Eastern

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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	2/1/2025	2/3/2024	1/28/2023	1/29/2022	1/30/2021	2/1/2020	2/2/2019	2/3/2018	1/28/2017	1/30/2016
Net Income / (Loss) Attributable to Common Shareholders	1,201	1,291	1,242	986	176	706	659	555	410	320
Consolidated Net Income / (Loss)	1,201	1,291	1,242	986	176	706	659	555	410	320
Net Income / (Loss) Continuing Operations	1,201	1,291	1,242	986	176	706	659	555	410	320
Total Pre-Tax Income	1,580	1,696	1,644	1,296	231	906	859	787	656	507
Total Operating Income	1,565	1,678	1,639	1,297	237	901	854	785	655	506
Total Gross Profit	4,387	4,381	4,045	3,369	1,949	2,681	2,409	2,097	1,747	1,384
Total Revenue	11,296	11,207	10,209	8,631	6,152	7,398	6,717	5,885	4,855	3,924
Operating Revenue	11,296	11,207	10,209	8,631	6,152	7,398	6,717	5,885	4,855	3,924
Total Cost of Revenue	6,908	6,826	6,164	5,262	4,203	4,717	4,307	3,788	3,108	2,540
Operating Cost of Revenue	6,908	6,826	6,164	5,262	4,203	4,717	4,307	3,788	3,108	2,540
Total Operating Expenses	2,822	2,703	2,406	2,071	1,712	1,780	1,555	1,312	1,092	878
Selling, General & Admin Expense	2,809	2,695	2,395	2,062	1,583	1,761	1,535	1,287	1,074	863
Other Special Charges / (Income)	14	8.51	11	9.52	15	19	20	24	19	15
Total Other Income / (Expense), net	15	18	4.93	-1.66	-5.74	5.06	5.06	1.57	0.89	1.14
Interest & Investment Income	15	18	4.93	-1.66	-5.74	5.06	5.06	1.57	0.89	-
Income Tax Expense	379	405	401	310	55	200	201	232	246	187
Basic Earnings per Share	$25.44	$26.18	$24.17	$18.09	$3.12	$12.21	$11.00	$9.02	$6.55	$5.00
Weighted Average Basic Shares Outstanding	47.21M	49.30M	51.40M	54.48M	56.35M	57.84M	59.86M	61.56M	62.52M	63.95M
Diluted Earnings per Share	$25.34	$26.03	$24.01	$17.98	$3.11	$12.15	$10.94	$8.96	$6.52	$4.98
Weighted Average Diluted Shares Outstanding	47.40M	49.60M	51.74M	54.84M	56.56M	58.11M	60.18M	61.98M	62.85M	64.28M
Weighted Average Basic & Diluted Shares Outstanding	45.31M	48.27M	50.20M	52.33M	56.21M	56.31M	58.80M	60.61M	62.60M	64M

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	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/1/2025	11/2/2024	8/3/2024	5/4/2024	2/3/2024	10/28/2023	7/29/2023	4/29/2023	1/28/2023	10/29/2022
Net Income / (Loss) Attributable to Common Shareholders	393	242	253	313	394	249	300	347	341	275
Consolidated Net Income / (Loss)	393	242	253	313	394	249	300	347	341	275
Net Income / (Loss) Continuing Operations	393	242	253	313	394	249	300	347	341	275
Total Pre-Tax Income	518	320	334	408	520	330	396	449	452	363
Total Operating Income	516	319	329	401	517	327	392	442	448	362
Total Gross Profit	1,334	1,006	978	1,070	1,341	992	994	1,055	1,213	963
Total Revenue	3,488	2,530	2,552	2,726	3,554	2,489	2,530	2,634	3,227	2,339
Operating Revenue	3,488	2,530	2,552	2,726	3,554	2,489	2,530	2,634	3,227	2,339
Total Cost of Revenue	2,154	1,524	1,574	1,656	2,214	1,497	1,536	1,579	2,014	1,376
Operating Cost of Revenue	2,154	1,524	1,574	1,656	2,214	1,497	1,536	1,579	2,014	1,376
Total Operating Expenses	817	687	649	669	823	665	602	613	765	601
Selling, General & Admin Expense	816	682	645	666	820	661	601	612	763	597
Other Special Charges / (Income)	1.73	4.88	4.16	2.92	3.11	3.46	1.28	0.66	2.18	3.80
Total Other Income / (Expense), net	1.99	1.67	4.53	6.90	3.33	2.50	4.45	7.35	4.38	0.85
Interest & Investment Income	1.99	1.67	4.53	6.90	3.33	2.50	4.45	7.35	4.38	0.85
Income Tax Expense	125	78	81	95	126	80	96	102	111	88
Basic Earnings per Share	$8.45	$5.16	$5.32	$6.51	$8.12	$5.09	$6.05	$6.92	$6.73	$5.37
Weighted Average Basic Shares Outstanding	47.21M	46.93M	47.51M	48.13M	49.30M	49.01M	49.62M	50.15M	51.40M	51.13M
Diluted Earnings per Share	$8.43	$5.14	$5.30	$6.47	$8.06	$5.07	$6.02	$6.88	$6.67	$5.34
Weighted Average Diluted Shares Outstanding	47.40M	47.09M	47.67M	48.38M	49.60M	49.23M	49.85M	50.47M	51.74M	51.42M
Weighted Average Basic & Diluted Shares Outstanding	45.31M	46.37M	47.11M	47.72M	48.27M	48.56M	49.23M	49.80M	50.20M	50.88M

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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	2/1/2025	2/3/2024	1/28/2023	1/29/2022	1/30/2021	2/1/2020	2/2/2019	2/3/2018	1/28/2017	1/30/2016
Net Change in Cash & Equivalents	-63	29	306	-614	654	-17	132	-108	39	-43
Net Cash From Operating Activities	1,339	1,476	1,482	1,059	810	1,101	956	779	634	376
Net Cash From Continuing Operating Activities	1,339	1,476	1,482	1,059	810	1,101	956	779	634	376
Net Income / (Loss) Continuing Operations	1,201	1,291	1,242	986	176	706	659	555	410	320
Consolidated Net Income / (Loss)	1,201	1,291	1,242	986	176	706	659	555	410	320
Depreciation Expense	267	244	241	268	298	296	279	253	210	165
Non-Cash Adjustments To Reconcile Net Income	31	392	352	329	375	310	30	32	19	9.79
Changes in Operating Assets and Liabilities, net	-161	-451	-354	-524	-38	-210	-11	-60	-5.10	-119
Net Cash From Investing Activities	-383	-441	-315	-176	-49	-471	-215	-531	-273	-279
Net Cash From Continuing Investing Activities	-383	-441	-315	-176	-49	-471	-215	-531	-273	-279
Purchase of Property, Plant & Equipment	-374	-435	-312	-172	-152	-299	-319	-441	-373	-299
Sale and/or Maturity of Investments	-8.63	-6.16	-2.46	-4.30	104	-63	506	240	190	150
Net Cash From Financing Activities	-1,019	-1,006	-861	-1,497	-108	-647	-609	-356	-322	-140
Net Cash From Continuing Financing Activities	-1,019	-1,006	-861	-1,497	-108	-647	-609	-356	-322	-140
Repayment of Debt	-204	-195	0.00	0.00	-802	0.00	0.00	-0.58	0.00	0.00
Repurchase of Common Equity	-1,003	-996	-900	-1,522	-115	-681	-616	-368	-344	-167
Issuance of Debt	200	195	0.00	0.00	800	0.00	0.00	-	-	-
Other Financing Activities, net	-11	-10	39	25	8.88	34	6.98	12	23	27
Cash Interest Paid	4.16	3.33	2.14	2.13	6.99	0.00	0.00	-	-	-
Cash Income Taxes Paid	386	328	430	371	19	134	196	255	213	179

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	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/1/2025	11/2/2024	8/3/2024	5/4/2024	2/3/2024	10/28/2023	7/29/2023	4/29/2023	1/28/2023	10/29/2022
Net Change in Cash & Equivalents	525	-236	-111	-242	645	-267	-248	-101	487	-184
Net Cash From Operating Activities	1,037	-57	200	159	1,118	-71	124	305	908	33
Net Cash From Continuing Operating Activities	1,037	-57	200	159	1,118	-71	124	305	908	33
Net Income / (Loss) Continuing Operations	393	242	253	313	394	249	300	347	341	275
Consolidated Net Income / (Loss)	393	242	253	313	394	249	300	347	341	275
Depreciation Expense	70	67	65	65	63	61	62	58	59	58
Non-Cash Adjustments To Reconcile Net Income	-240	254	-74	91	120	94	92	87	93	88
Changes in Operating Assets and Liabilities, net	813	-620	-45	-310	541	-476	-330	-187	416	-388
Net Cash From Investing Activities	-76	-115	-98	-94	-126	-109	-96	-110	-108	-85
Net Cash From Continuing Investing Activities	-76	-115	-98	-94	-126	-109	-96	-110	-108	-85
Purchase of Property, Plant & Equipment	-74	-114	-95	-91	-124	-106	-95	-110	-108	-83
Sale and/or Maturity of Investments	-2.52	-1.02	-2.53	-2.56	-1.29	-3.18	-1.37	-0.31	0.61	-1.82
Net Cash From Financing Activities	-435	-64	-212	-308	-348	-87	-275	-296	-314	-131
Net Cash From Continuing Financing Activities	-435	-64	-212	-308	-348	-87	-275	-296	-314	-131
Repayment of Debt	-200	-0.07	-0.14	-3.95	-	-	-	0.00	-	-
Repurchase of Common Equity	-238	-264	-212	-289	-155	-282	-275	-284	-328	-137
Other Financing Activities, net	2.94	-0.10	0.11	-14	2.64	-0.41	0.12	-13	14	6.38
Cash Income Taxes Paid	69	84	228	5.06	61	78	186	2.82	91	93

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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	2/1/2025	2/3/2024	1/28/2023	1/29/2022	1/30/2021	2/1/2020	2/2/2019	2/3/2018	1/28/2017	1/30/2016
Total Assets	6,002	5,707	5,370	4,764	5,090	4,864	3,191	2,909	2,552	2,231
Total Current Assets	3,029	2,837	2,709	2,281	2,515	2,055	1,915	1,694	1,536	1,375
Cash & Equivalents	703	767	738	432	1,046	392	409	277	385	346
Accounts Receivable	223	208	199	234	193	139	136	100	89	65
Inventories, net	1,968	1,742	1,603	1,499	1,168	1,294	1,214	1,096	944	762
Prepaid Expenses	129	116	130	111	107	104	138	99	89	73
Current Deferred & Refundable Income Taxes	4.95	4.25	38	5.91	0.00	16	17	1.49	0.00	-
Plant, Property, & Equipment, net	1,239	1,182	1,009	914	996	1,206	1,226	1,189	1,004	848
Total Noncurrent Assets	1,734	1,688	1,652	1,569	1,579	1,603	50	25	11	8.15
Goodwill	11	11	11	11	11	11	11	0.00	-	-
Intangible Assets	0.20	0.51	1.31	1.54	2.47	3.39	4.32	0.00	-	-
Employee Benefit Assets	48	44	35	38	33	28	21	17	11	8.15
Other Noncurrent Operating Assets	1,675	1,633	1,604	1,518	1,533	1,561	15	8.66	0.00	-
Total Liabilities & Shareholders' Equity	6,002	5,707	5,370	4,764	5,090	4,864	3,191	2,909	2,552	2,231
Total Liabilities	3,513	3,428	3,411	3,229	3,090	2,962	1,371	1,134	1,002	788
Total Current Liabilities	1,779	1,658	1,682	1,558	1,344	1,137	824	642	529	396
Short-Term Debt	288	0.00	283	274	253	240	0.00	-	-	-
Accounts Payable	564	544	560	553	477	414	404	326	260	196
Accrued Expenses	380	382	444	365	296	246	221	189	261	187
Current Deferred Revenue	501	437	395	354	274	238	199	113	-	-
Current Deferred & Payable Income Tax Liabilities	47	11	0.00	13	43	0.00	-	14	8.97	13
Total Noncurrent Liabilities	1,734	1,769	1,729	1,671	1,747	1,825	547	492	472	392
Capital Lease Obligations	1,635	-	1,620	1,573	1,643	1,699	0.00	-	-	-
Noncurrent Deferred & Payable Income Tax Liabilities	43	86	55	40	65	89	84	59	86	60
Other Noncurrent Operating Liabilities	56	1,684	54	59	38	36	28	25	20	10
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,488	2,279	1,960	1,535	2,000	1,902	1,820	1,774	1,550	1,443
Total Preferred & Common Equity	2,488	2,279	1,960	1,535	2,000	1,902	1,820	1,774	1,550	1,443
Total Common Equity	2,488	2,279	1,960	1,535	2,000	1,902	1,820	1,774	1,550	1,443
Common Stock	1,121	1,076	1,025	935	848	808	739	700	659	622
Retained Earnings	1,474	1,287	996	653	1,189	1,128	1,106	1,093	906	832
Treasury Stock	-107	-83	-60	-53	-38	-34	-25	-19	-15	-12

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	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	11/2/2024	8/3/2024	5/4/2024	2/3/2024	10/28/2023	7/29/2023	4/29/2023	1/28/2023	10/29/2022
Total Assets	5,958	5,737	5,632	5,707	5,595	5,249	5,376	5,370	5,332
Total Current Assets	2,955	2,799	2,761	2,837	2,792	2,519	2,686	2,709	2,746
Cash & Equivalents	178	414	525	767	122	389	636	738	251
Accounts Receivable	214	201	203	208	203	174	190	199	200
Inventories, net	2,365	1,998	1,906	1,742	2,321	1,816	1,751	1,603	2,115
Prepaid Expenses	136	132	127	116	117	111	108	130	138
Current Deferred & Refundable Income Taxes	63	54	0.00	4.25	29	30	0.00	38	43
Plant, Property, & Equipment, net	1,264	1,226	1,196	1,182	1,118	1,073	1,020	1,009	967
Total Noncurrent Assets	1,739	1,713	1,676	1,688	1,685	1,656	1,670	1,652	1,619
Goodwill	11	11	11	11	11	11	11	11	11
Intangible Assets	0.28	0.36	0.43	0.51	0.59	0.72	1.02	1.31	0.84
Employee Benefit Assets	49	46	46	44	38	40	37	35	32
Other Noncurrent Operating Assets	1,679	1,655	1,619	1,633	1,635	1,605	1,621	1,604	1,575
Total Liabilities & Shareholders' Equity	5,958	5,737	5,632	5,707	5,595	5,249	5,376	5,370	5,332
Total Liabilities	3,629	3,389	3,331	3,428	3,566	3,197	3,358	3,411	3,409
Total Current Liabilities	1,816	1,591	1,573	1,658	1,837	1,491	1,634	1,682	1,698
Short-Term Debt	485	281	285	0.00	195	287	288	283	0.00
Accounts Payable	593	567	464	544	597	521	621	560	647
Accrued Expenses	333	348	333	382	405	328	309	444	463
Current Deferred Revenue	405	395	399	437	351	354	357	395	312
Current Deferred & Payable Income Tax Liabilities	0.00	0.00	93	11	0.00	0.00	59	0.00	-
Total Noncurrent Liabilities	1,813	1,798	1,758	1,769	1,730	1,706	1,724	1,729	1,712
Capital Lease Obligations	1,656	1,648	1,608	-	-	1,593	1,610	1,620	-
Noncurrent Deferred & Payable Income Tax Liabilities	92	88	90	86	57	56	57	55	39
Other Noncurrent Operating Liabilities	65	62	61	1,684	1,673	57	56	54	1,673
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,329	2,348	2,301	2,279	2,029	2,052	2,018	1,960	1,922
Total Preferred & Common Equity	2,329	2,348	2,301	2,279	2,029	2,052	2,018	1,960	1,922
Total Common Equity	2,329	2,348	2,301	2,279	2,029	2,052	2,018	1,960	1,922
Common Stock	1,105	1,100	1,092	1,076	1,059	1,050	1,041	1,025	999
Retained Earnings	1,330	1,355	1,315	1,287	1,052	1,084	1,059	996	983
Treasury Stock	-107	-106	-106	-83	-83	-82	-82	-60	-60

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

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	2/1/2025	2/3/2024	1/28/2023	1/29/2022	1/30/2021	2/1/2020	2/2/2019	2/3/2018	1/28/2017	1/30/2016
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.79%	9.78%	18.28%	40.30%	-16.84%	10.15%	14.14%	21.21%	23.72%	21.06%
EBITDA Growth	-4.68%	2.23%	20.05%	192.92%	-55.33%	5.57%	9.21%	19.98%	28.86%	23.82%
EBIT Growth	-6.74%	2.41%	26.29%	447.88%	-73.72%	5.50%	8.76%	19.92%	29.34%	23.36%
NOPAT Growth	-6.88%	3.14%	25.49%	447.79%	-74.33%	7.23%	18.15%	35.42%	28.16%	24.44%
Net Income Growth	-6.96%	3.91%	26.03%	460.66%	-75.09%	7.20%	18.61%	35.50%	28.05%	24.45%
EPS Growth	-2.65%	8.41%	33.54%	478.14%	-74.40%	11.06%	22.10%	37.42%	30.92%	25.13%
Operating Cash Flow Growth	-9.32%	-0.38%	39.90%	30.72%	-26.42%	15.18%	22.68%	22.85%	68.78%	-5.22%
Free Cash Flow Firm Growth	-7.54%	-8.01%	19.99%	32.76%	154.53%	-297.45%	98.51%	29.67%	475.80%	-125.00%
Invested Capital Growth	8.31%	9.56%	5.92%	3.52%	-14.61%	136.58%	2.48%	21.28%	17.39%	65.70%
Revenue Q/Q Growth	-0.59%	3.01%	5.12%	6.55%	-1.71%	2.51%	2.87%	6.46%	6.87%	5.96%
EBITDA Q/Q Growth	0.36%	3.94%	3.72%	10.10%	-11.36%	0.94%	3.06%	3.58%	8.53%	6.73%
EBIT Q/Q Growth	-0.05%	4.32%	4.60%	13.21%	-21.14%	0.73%	3.24%	4.00%	9.12%	6.75%
NOPAT Q/Q Growth	-0.01%	4.45%	4.01%	13.56%	-21.92%	1.25%	0.91%	13.92%	8.63%	6.87%
Net Income Q/Q Growth	-0.09%	4.33%	4.31%	13.58%	-22.56%	1.15%	1.00%	13.95%	8.58%	6.87%
EPS Q/Q Growth	1.48%	5.64%	5.68%	14.96%	-21.27%	2.36%	2.05%	14.58%	9.40%	6.87%
Operating Cash Flow Q/Q Growth	-5.75%	16.56%	21.68%	9.64%	0.94%	13.37%	-3.66%	21.69%	15.36%	-5.89%
Free Cash Flow Firm Q/Q Growth	190.48%	23.49%	-61.18%	3.77%	13.02%	8.27%	0.19%	67.92%	32.35%	-184.81%
Invested Capital Q/Q Growth	-13.60%	62.87%	86.95%	-8.43%	-11.14%	-6.44%	-8.31%	-8.78%	-6.10%	-4.67%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	38.84%	39.09%	39.62%	39.03%	31.68%	36.24%	35.87%	35.63%	35.99%	35.28%
EBITDA Margin	16.22%	17.15%	18.42%	18.14%	8.69%	16.18%	16.88%	17.64%	17.82%	17.11%
Operating Margin	13.85%	14.97%	16.05%	15.03%	3.85%	12.18%	12.72%	13.35%	13.49%	12.90%
EBIT Margin	13.85%	14.97%	16.05%	15.03%	3.85%	12.18%	12.72%	13.35%	13.49%	12.90%
Profit (Net Income) Margin	10.63%	11.52%	12.17%	11.42%	2.86%	9.54%	9.80%	9.44%	8.44%	8.15%
Tax Burden Percent	76.02%	76.14%	75.59%	76.08%	76.09%	77.91%	76.65%	70.56%	62.49%	63.06%
Interest Burden Percent	100.96%	101.05%	100.30%	99.87%	97.58%	100.56%	100.59%	100.20%	100.14%	100.23%
Effective Tax Rate	23.98%	23.86%	24.41%	23.92%	23.91%	22.09%	23.35%	29.44%	37.51%	36.94%
Return on Invested Capital (ROIC)	33.36%	39.02%	40.78%	34.03%	5.82%	29.56%	46.97%	44.12%	38.93%	41.18%
ROIC Less NNEP Spread (ROIC-NNEP)	34.33%	40.18%	41.06%	33.92%	5.44%	30.33%	46.01%	43.85%	38.81%	41.02%
Return on Net Nonoperating Assets (RNNOA)	17.03%	21.89%	30.32%	21.74%	3.19%	8.37%	-10.33%	-10.72%	-11.55%	-15.01%
Return on Equity (ROE)	50.39%	60.91%	71.09%	55.78%	9.01%	37.93%	36.64%	33.40%	27.38%	26.17%
Cash Return on Invested Capital (CROIC)	25.38%	29.89%	35.03%	30.58%	21.59%	-51.59%	44.52%	24.89%	22.93%	-8.27%
Operating Return on Assets (OROA)	26.73%	30.30%	32.34%	26.33%	4.76%	22.37%	28.00%	28.76%	27.38%	26.41%
Return on Assets (ROA)	20.52%	23.31%	24.52%	20.01%	3.53%	17.53%	21.59%	20.34%	17.13%	16.69%
Return on Common Equity (ROCE)	50.39%	60.91%	71.09%	55.78%	9.01%	37.93%	36.64%	33.40%	27.38%	26.17%
Return on Equity Simple (ROE_SIMPLE)	48.27%	56.64%	63.39%	64.21%	8.79%	37.11%	36.18%	31.29%	26.43%	22.18%
Net Operating Profit after Tax (NOPAT)	1,190	1,278	1,239	987	180	702	655	554	409	319
NOPAT Margin	10.53%	11.40%	12.13%	11.44%	2.93%	9.49%	9.75%	9.42%	8.43%	8.14%
Net Nonoperating Expense Percent (NNEP)	-0.97%	-1.16%	-0.29%	0.11%	0.38%	-0.77%	0.96%	0.27%	0.12%	0.16%
Return On Investment Capital (ROIC_SIMPLE)	26.97%	-	-	-	-	-	-	-	-	-
Cost of Revenue to Revenue	61.16%	60.91%	60.38%	60.97%	68.32%	63.76%	64.13%	64.37%	64.01%	64.72%
SG&A Expenses to Revenue	24.86%	24.04%	23.46%	23.89%	25.73%	23.80%	22.86%	21.87%	22.12%	22.00%
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	24.99%	24.12%	23.57%	24.00%	27.83%	24.06%	23.16%	22.29%	22.50%	22.38%
Earnings before Interest and Taxes (EBIT)	1,565	1,678	1,639	1,297	237	901	854	785	655	506
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,832	1,922	1,880	1,566	535	1,197	1,134	1,038	865	671
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.68	10.77	13.13	12.65	7.88	8.05	9.49	7.54	10.90	8.00
Price to Tangible Book Value (P/TBV)	7.72	10.82	13.21	12.75	7.94	8.11	9.57	7.54	10.90	8.00
Price to Revenue (P/Rev)	1.69	2.19	2.52	2.25	2.56	2.07	2.57	2.27	3.48	2.94
Price to Earnings (P/E)	15.91	19.01	20.71	19.70	89.64	21.69	26.24	24.11	41.23	36.06
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	6.28%	5.26%	4.83%	5.08%	1.12%	4.61%	3.81%	4.15%	2.43%	2.77%
Enterprise Value to Invested Capital (EV/IC)	5.48	7.50	8.61	7.06	5.83	5.02	11.96	9.43	14.51	11.44
Enterprise Value to Revenue (EV/Rev)	1.80	2.29	2.63	2.41	2.70	2.26	2.51	2.21	3.39	2.82
Enterprise Value to EBITDA (EV/EBITDA)	11.10	13.36	14.31	13.31	31.07	14.00	14.88	12.51	19.05	16.48
Enterprise Value to EBIT (EV/EBIT)	12.99	15.31	16.41	16.06	70.15	18.59	19.75	16.54	25.16	21.85
Enterprise Value to NOPAT (EV/NOPAT)	17.09	20.10	21.71	21.11	92.19	23.86	25.77	23.44	40.27	34.65
Enterprise Value to Operating Cash Flow (EV/OCF)	15.19	17.40	18.15	19.67	20.50	15.21	17.65	16.67	25.97	29.44
Enterprise Value to Free Cash Flow (EV/FCFF)	22.46	26.24	25.27	23.49	24.87	0.00	27.19	41.55	68.36	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.77	0.84	0.97	1.20	0.95	1.02	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.66	0.71	0.83	1.02	0.82	0.89	0.00	0.00	0.00	0.00
Financial Leverage	0.50	0.54	0.74	0.64	0.59	0.28	-0.22	-0.24	-0.30	-0.37
Leverage Ratio	2.46	2.61	2.90	2.79	2.55	2.16	1.70	1.64	1.60	1.57
Compound Leverage Factor	2.48	2.64	2.91	2.78	2.49	2.18	1.71	1.65	1.60	1.57
Debt to Total Capital	43.60%	45.61%	49.27%	54.60%	48.68%	50.47%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	6.53%	6.77%	7.33%	8.10%	6.50%	6.24%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	37.06%	38.83%	41.93%	46.50%	42.18%	44.23%	0.00%	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	56.40%	54.39%	50.73%	45.40%	51.32%	49.53%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	1.05	0.99	1.01	1.18	3.55	1.62	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.67	0.60	0.62	0.90	1.59	1.20	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.89	0.85	0.86	1.00	3.07	1.42	0.00	0.00	0.00	0.00
Debt to NOPAT	1.62	1.50	1.54	1.87	10.53	2.76	0.00	0.00	0.00	0.00
Net Debt to NOPAT	1.03	0.90	0.94	1.43	4.72	2.05	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	1.37	1.27	1.31	1.59	9.12	2.42	0.00	0.00	0.00	0.00
Altman Z-Score	6.60	7.79	7.92	6.69	5.03	5.79	11.45	10.95	13.84	12.34
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	1.70	1.71	1.61	1.46	1.87	1.81	2.32	2.64	2.90	3.47
Quick Ratio	0.52	0.59	0.56	0.43	0.92	0.56	0.66	0.77	0.95	1.37
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	905	979	1,064	887	668	-1,225	620	313	241	-64
Operating Cash Flow to CapEx	357.48%	339.16%	474.78%	615.18%	533.60%	368.90%	299.35%	176.84%	169.87%	125.64%
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	1.93	2.02	2.01	1.75	1.24	1.84	2.20	2.16	2.03	2.05
Accounts Receivable Turnover	52.38	55.02	47.14	40.45	37.01	53.71	56.95	62.48	63.20	70.05
Inventory Turnover	3.72	4.08	3.97	3.95	3.41	3.76	3.73	3.71	3.64	4.16
Fixed Asset Turnover	9.33	10.23	10.61	9.04	5.59	6.09	5.56	5.36	5.24	5.44
Accounts Payable Turnover	12.47	12.37	11.08	10.22	9.43	11.53	11.80	12.94	13.64	14.75
Days Sales Outstanding (DSO)	6.97	6.63	7.74	9.02	9.86	6.80	6.41	5.84	5.78	5.21
Days Inventory Outstanding (DIO)	98.02	89.45	91.86	92.51	106.91	97.04	97.91	98.31	100.18	87.65
Days Payable Outstanding (DPO)	29.26	29.50	32.93	35.71	38.69	31.65	30.92	28.20	26.76	24.75
Cash Conversion Cycle (CCC)	75.72	66.58	66.67	65.82	78.07	72.18	73.40	75.95	79.19	68.10
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,708	3,424	3,125	2,951	2,850	3,338	1,411	1,377	1,135	967
Invested Capital Turnover	3.17	3.42	3.36	2.98	1.99	3.12	4.82	4.69	4.62	5.06
Increase / (Decrease) in Invested Capital	285	299	175	100	-488	1,927	34	242	168	383
Enterprise Value (EV)	20,332	25,684	26,894	20,835	16,612	16,750	16,872	12,989	16,477	11,065
Market Capitalization	19,112	24,540	25,729	19,420	15,761	15,314	17,281	13,386	16,892	11,540
Book Value per Share	$53.66	$46.94	$38.52	$28.37	$35.49	$33.28	$30.69	$29.09	$24.91	$22.65
Tangible Book Value per Share	$53.42	$46.70	$38.28	$28.14	$35.25	$33.03	$30.43	$29.09	$24.91	$22.65
Total Capital	4,412	4,190	3,863	3,382	3,896	3,840	1,820	1,774	1,550	1,443
Total Debt	1,923	1,911	1,903	1,847	1,897	1,938	0.00	0.00	0.00	0.00
Total Long-Term Debt	1,635	1,627	1,620	1,573	1,643	1,699	0.00	0.00	0.00	0.00
Net Debt	1,220	1,144	1,165	1,415	851	1,436	-409	-397	-415	-476
Capital Expenditures (CapEx)	374	435	312	172	152	299	319	441	373	299
Debt-free, Cash-free Net Working Capital (DFCFNWC)	834	696	573	566	378	655	682	654	592	503
Debt-free Net Working Capital (DFNWC)	1,537	1,462	1,311	997	1,424	1,158	1,091	1,052	1,007	979
Net Working Capital (NWC)	1,249	1,178	1,028	723	1,171	918	1,091	1,052	1,007	979
Net Nonoperating Expense (NNE)	-11	-13	-3.73	1.27	4.36	-3.94	-3.88	-1.11	-0.56	-0.72
Net Nonoperating Obligations (NNO)	1,220	1,144	1,165	1,415	851	1,436	-409	-397	-415	-476
Total Depreciation and Amortization (D&A)	267	244	241	268	298	296	279	253	210	165
Debt-free, Cash-free Net Working Capital to Revenue	7.39%	6.21%	5.61%	6.55%	6.15%	8.86%	10.15%	11.12%	12.19%	12.82%
Debt-free Net Working Capital to Revenue	13.61%	13.05%	12.84%	11.55%	23.15%	15.65%	16.25%	17.87%	20.74%	24.95%
Net Working Capital to Revenue	11.06%	10.51%	10.07%	8.38%	19.04%	12.41%	16.25%	17.87%	20.74%	24.95%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$25.44	$26.18	$24.17	$18.09	$0.00	$12.21	$0.00	$0.00	$0.00	$4.00
Adjusted Weighted Average Basic Shares Outstanding	47.21M	49.30M	51.40M	54.48M	0.00	57.84M	0.00	0.00	0.00	64.34M
Adjusted Diluted Earnings per Share	$25.34	$26.03	$24.01	$17.98	$0.00	$12.15	$0.00	$0.00	$0.00	$3.98
Adjusted Weighted Average Diluted Shares Outstanding	47.40M	49.60M	51.74M	54.84M	0.00	58.11M	0.00	0.00	0.00	64.65M
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
Adjusted Weighted Average Basic & Diluted Shares Outstanding	45.31M	48.27M	50.20M	52.33M	0.00	56.31M	0.00	0.00	0.00	64.23M
Normalized Net Operating Profit after Tax (NOPAT)	1,200	1,284	1,247	994	279	717	670	571	421	329
Normalized NOPAT Margin	10.62%	11.46%	12.21%	11.52%	4.53%	9.69%	9.97%	9.71%	8.67%	8.37%
Pre Tax Income Margin	13.99%	15.13%	16.10%	15.01%	3.76%	12.25%	12.79%	13.37%	13.51%	12.93%
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	83.53%	77.13%	72.44%	154.38%	65.34%	96.46%	93.57%	66.20%	84.02%	52.31%

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

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/1/2025	11/2/2024	8/3/2024	5/4/2024	2/3/2024	10/28/2023	7/29/2023	4/29/2023	1/28/2023	10/29/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.88%	1.65%	0.88%	3.48%	10.15%	6.42%	10.13%	12.29%	18.22%	17.19%
EBITDA Growth	1.14%	-0.80%	-13.02%	-6.87%	14.37%	-7.54%	0.28%	-0.11%	15.35%	20.30%
EBIT Growth	-0.15%	-2.67%	-15.94%	-9.30%	15.52%	-9.57%	0.05%	1.00%	19.17%	27.31%
NOPAT Growth	-0.02%	-2.70%	-16.04%	-9.83%	16.12%	-9.62%	0.38%	2.92%	16.47%	27.06%
Net Income Growth	-0.28%	-2.93%	-15.84%	-9.78%	15.74%	-9.14%	1.50%	4.72%	17.76%	27.54%
EPS Growth	4.59%	1.38%	-11.96%	-5.96%	20.84%	-5.06%	5.61%	9.21%	23.98%	35.53%
Operating Cash Flow Growth	-7.31%	19.72%	61.04%	-47.74%	23.09%	-316.11%	8.34%	-28.48%	40.98%	143.67%
Free Cash Flow Firm Growth	15.10%	-965.65%	-27.15%	-2,901.94%	-42.83%	-110.03%	-183.02%	-101.59%	-14.01%	807.52%
Invested Capital Growth	8.31%	104.18%	9.02%	11.86%	9.56%	25.75%	11.03%	11.72%	5.92%	-48.12%
Revenue Q/Q Growth	37.85%	-0.86%	-6.37%	-23.31%	42.80%	-1.62%	-3.97%	-18.36%	37.97%	1.81%
EBITDA Q/Q Growth	52.08%	-2.28%	-15.28%	-19.66%	49.15%	-14.31%	-9.29%	-1.34%	20.58%	-7.07%
EBIT Q/Q Growth	62.11%	-3.25%	-17.89%	-22.46%	58.02%	-16.45%	-11.41%	-1.24%	23.70%	-7.55%
NOPAT Q/Q Growth	62.61%	-3.30%	-19.06%	-21.44%	58.26%	-16.56%	-13.08%	1.16%	23.18%	-7.33%
Net Income Q/Q Growth	62.39%	-4.11%	-19.34%	-20.60%	58.07%	-16.87%	-13.53%	1.85%	24.10%	-7.13%
EPS Q/Q Growth	64.01%	-3.02%	-18.08%	-19.73%	58.97%	-15.78%	-12.50%	3.15%	24.91%	-6.32%
Operating Cash Flow Q/Q Growth	1,923.72%	-128.48%	25.23%	-85.75%	1,679.52%	-157.14%	-59.36%	-66.44%	2,673.25%	-71.36%
Free Cash Flow Firm Q/Q Growth	105.50%	-2,668.05%	13.16%	-187.07%	150.92%	-230.28%	-1,950.12%	-101.66%	-91.07%	2,634.85%
Invested Capital Q/Q Growth	-13.60%	11.11%	5.30%	7.16%	62.87%	-40.68%	8.04%	4.96%	86.95%	-47.62%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	38.24%	39.75%	38.33%	39.25%	37.72%	39.86%	39.28%	40.04%	37.58%	41.17%
EBITDA Margin	16.81%	15.24%	15.46%	17.08%	16.31%	15.61%	17.93%	18.98%	15.71%	17.97%
Operating Margin	14.80%	12.59%	12.90%	14.71%	14.55%	13.15%	15.48%	16.78%	13.87%	15.47%
EBIT Margin	14.80%	12.59%	12.90%	14.71%	14.55%	13.15%	15.48%	16.78%	13.87%	15.47%
Profit (Net Income) Margin	11.28%	9.57%	9.90%	11.49%	11.10%	10.02%	11.86%	13.17%	10.56%	11.74%
Tax Burden Percent	75.87%	75.64%	75.68%	76.77%	75.78%	75.66%	75.77%	77.22%	75.39%	75.70%
Interest Burden Percent	100.39%	100.53%	101.37%	101.72%	100.64%	100.76%	101.14%	101.66%	100.98%	100.23%
Effective Tax Rate	24.13%	24.36%	24.32%	23.23%	24.22%	24.34%	24.23%	22.78%	24.61%	24.30%
Return on Invested Capital (ROIC)	35.58%	33.84%	29.84%	36.72%	37.73%	57.36%	37.37%	43.77%	35.14%	46.49%
ROIC Less NNEP Spread (ROIC-NNEP)	35.71%	33.96%	30.07%	37.13%	37.95%	55.22%	37.60%	44.23%	35.40%	46.62%
Return on Net Nonoperating Assets (RNNOA)	17.71%	15.88%	20.55%	22.61%	20.68%	-2.47%	28.68%	28.82%	26.14%	11.74%
Return on Equity (ROE)	53.29%	49.71%	50.39%	59.33%	58.41%	54.88%	66.05%	72.59%	61.28%	58.23%
Cash Return on Invested Capital (CROIC)	25.38%	-31.29%	23.68%	24.61%	29.89%	42.01%	26.65%	29.10%	35.03%	112.04%
Operating Return on Assets (OROA)	28.56%	24.76%	26.59%	30.20%	29.44%	26.18%	32.59%	33.92%	27.95%	28.30%
Return on Assets (ROA)	21.76%	18.83%	20.40%	23.58%	22.45%	19.96%	24.97%	26.63%	21.27%	21.47%
Return on Common Equity (ROCE)	53.29%	49.71%	50.39%	59.33%	58.41%	54.88%	66.05%	72.59%	61.28%	58.23%
Return on Equity Simple (ROE_SIMPLE)	0.00%	51.62%	51.51%	54.64%	0.00%	61.00%	61.53%	62.34%	0.00%	61.96%
Net Operating Profit after Tax (NOPAT)	392	241	249	308	392	248	297	341	337	274
NOPAT Margin	11.23%	9.52%	9.76%	11.29%	11.02%	9.95%	11.73%	12.96%	10.46%	11.71%
Net Nonoperating Expense Percent (NNEP)	-0.13%	-0.12%	-0.23%	-0.40%	-0.22%	2.13%	-0.23%	-0.46%	-0.26%	-0.13%
Return On Investment Capital (ROIC_SIMPLE)	8.88%	-	-	-	-	-	-	-	-	-
Cost of Revenue to Revenue	61.76%	60.25%	61.67%	60.75%	62.28%	60.14%	60.72%	59.96%	62.42%	58.83%
SG&A Expenses to Revenue	23.39%	26.97%	25.27%	24.43%	23.08%	26.57%	23.74%	23.24%	23.64%	25.53%
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	23.44%	27.16%	25.43%	24.54%	23.17%	26.71%	23.80%	23.26%	23.70%	25.70%
Earnings before Interest and Taxes (EBIT)	516	319	329	401	517	327	392	442	448	362
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	586	386	395	466	580	389	454	500	507	420
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.68	7.64	6.93	8.34	10.77	9.22	10.81	13.72	13.13	11.09
Price to Tangible Book Value (P/TBV)	7.72	7.68	6.96	8.38	10.82	9.27	10.87	13.80	13.21	11.16
Price to Revenue (P/Rev)	1.69	1.57	1.44	1.70	2.19	1.72	2.07	2.64	2.52	2.19
Price to Earnings (P/E)	15.91	14.80	13.45	15.26	19.01	15.11	17.57	22.00	20.71	17.90
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	6.28%	6.76%	7.43%	6.55%	5.26%	6.62%	5.69%	4.55%	4.83%	5.59%
Enterprise Value to Invested Capital (EV/IC)	5.48	4.60	4.60	5.60	7.50	8.93	6.68	8.82	8.61	12.60
Enterprise Value to Revenue (EV/Rev)	1.80	1.74	1.57	1.82	2.29	1.73	2.21	2.76	2.63	2.17
Enterprise Value to EBITDA (EV/EBITDA)	11.10	10.82	9.73	10.89	13.36	10.15	12.59	15.40	14.31	11.62
Enterprise Value to EBIT (EV/EBIT)	12.99	12.62	11.30	12.55	15.31	11.67	14.41	17.62	16.41	13.45
Enterprise Value to NOPAT (EV/NOPAT)	17.09	16.61	14.87	16.52	20.10	15.35	18.95	23.18	21.71	17.69
Enterprise Value to Operating Cash Flow (EV/OCF)	15.19	13.91	12.65	15.44	17.40	14.82	17.28	21.27	18.15	17.30
Enterprise Value to Free Cash Flow (EV/FCFF)	22.46	0.00	20.28	24.03	26.24	23.68	26.38	32.00	25.27	7.68
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.77	0.92	0.82	0.82	0.84	0.10	0.92	0.94	0.97	0.00
Long-Term Debt to Equity	0.66	0.71	0.70	0.70	0.71	0.00	0.78	0.80	0.83	0.00
Financial Leverage	0.50	0.47	0.68	0.61	0.54	-0.04	0.76	0.65	0.74	0.25
Leverage Ratio	2.46	2.65	2.50	2.55	2.61	2.77	2.67	2.76	2.90	2.72
Compound Leverage Factor	2.47	2.67	2.53	2.59	2.63	2.79	2.70	2.81	2.93	2.72
Debt to Total Capital	43.60%	47.90%	45.10%	45.14%	45.61%	8.79%	47.82%	48.47%	49.27%	0.00%
Short-Term Debt to Total Capital	6.53%	10.84%	6.58%	6.79%	6.77%	8.79%	7.31%	7.36%	7.33%	0.00%
Long-Term Debt to Total Capital	37.06%	37.05%	38.52%	38.34%	38.83%	0.00%	40.51%	41.12%	41.93%	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	56.40%	52.10%	54.90%	54.86%	54.39%	91.21%	52.18%	51.53%	50.73%	100.00%
Debt to EBITDA	1.05	1.17	1.06	1.00	0.99	0.11	1.00	1.01	1.01	0.00
Net Debt to EBITDA	0.67	1.08	0.83	0.72	0.60	0.04	0.79	0.67	0.62	0.00
Long-Term Debt to EBITDA	0.89	0.91	0.90	0.85	0.85	0.00	0.85	0.86	0.86	0.00
Debt to NOPAT	1.62	1.80	1.61	1.52	1.50	0.16	1.50	1.52	1.54	0.00
Net Debt to NOPAT	1.03	1.65	1.27	1.10	0.90	0.06	1.19	1.01	0.94	0.00
Long-Term Debt to NOPAT	1.37	1.39	1.38	1.29	1.27	0.00	1.27	1.29	1.31	0.00
Altman Z-Score	6.02	5.57	5.63	6.28	7.12	5.75	6.98	7.68	7.19	6.29
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	1.70	1.63	1.76	1.76	1.71	1.52	1.69	1.64	1.61	1.62
Quick Ratio	0.52	0.22	0.39	0.46	0.59	0.18	0.38	0.51	0.56	0.27
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	107	-1,949	-70	-81	93	-183	-55	-2.70	163	1,824
Operating Cash Flow to CapEx	1,402.24%	-49.76%	209.43%	175.05%	900.10%	-66.61%	130.45%	277.77%	839.91%	39.25%
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	1.93	1.97	2.06	2.05	2.02	1.99	2.10	2.02	2.01	1.83
Accounts Receivable Turnover	52.38	54.56	60.33	57.39	55.02	53.97	60.46	54.81	47.14	52.56
Inventory Turnover	3.72	2.97	3.64	3.77	4.08	2.99	3.74	3.82	3.97	2.90
Fixed Asset Turnover	9.33	9.54	9.85	10.20	10.23	10.44	10.81	10.88	10.61	10.35
Accounts Payable Turnover	12.47	11.71	12.76	12.72	12.37	10.65	11.74	10.51	11.08	8.39
Days Sales Outstanding (DSO)	6.97	6.69	6.05	6.36	6.63	6.76	6.04	6.66	7.74	6.94
Days Inventory Outstanding (DIO)	98.02	122.74	100.28	96.69	89.45	122.17	97.67	95.64	91.86	125.71
Days Payable Outstanding (DPO)	29.26	31.18	28.61	28.69	29.50	34.27	31.09	34.75	32.93	43.49
Cash Conversion Cycle (CCC)	75.72	98.25	77.72	74.37	66.58	94.66	72.62	67.55	66.67	89.17
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,708	4,292	3,863	3,669	3,424	2,102	3,544	3,280	3,125	1,672
Invested Capital Turnover	3.17	3.55	3.06	3.25	3.42	5.77	3.19	3.38	3.36	3.97
Increase / (Decrease) in Invested Capital	285	2,190	320	389	299	431	352	344	175	-1,550
Enterprise Value (EV)	20,332	19,756	17,787	20,550	25,684	18,774	23,673	28,941	26,894	21,065
Market Capitalization	19,112	17,793	16,272	19,182	24,540	18,700	22,181	27,679	25,729	21,315
Book Value per Share	$53.66	$49.43	$49.21	$47.67	$46.94	$41.21	$41.20	$40.20	$38.52	$37.53
Tangible Book Value per Share	$53.42	$49.20	$48.98	$47.43	$46.70	$40.97	$40.97	$39.97	$38.28	$37.30
Total Capital	4,412	4,470	4,277	4,194	4,190	2,224	3,932	3,916	3,863	1,922
Total Debt	1,923	2,141	1,929	1,893	1,911	195	1,880	1,898	1,903	0.00
Total Long-Term Debt	1,635	1,656	1,648	1,608	1,627	0.00	1,593	1,610	1,620	0.00
Net Debt	1,220	1,963	1,515	1,368	1,144	74	1,492	1,262	1,165	-251
Capital Expenditures (CapEx)	74	114	95	91	124	106	95	110	108	83
Debt-free, Cash-free Net Working Capital (DFCFNWC)	834	1,445	1,075	948	696	1,029	927	704	573	797
Debt-free Net Working Capital (DFNWC)	1,537	1,623	1,489	1,473	1,462	1,151	1,315	1,340	1,311	1,048
Net Working Capital (NWC)	1,249	1,138	1,208	1,188	1,178	955	1,028	1,052	1,028	1,048
Net Nonoperating Expense (NNE)	-1.51	-1.27	-3.43	-5.30	-2.52	-1.89	-3.37	-5.67	-3.30	-0.64
Net Nonoperating Obligations (NNO)	1,220	1,963	1,515	1,368	1,144	74	1,492	1,262	1,165	-251
Total Depreciation and Amortization (D&A)	70	67	65	65	63	61	62	58	59	58
Debt-free, Cash-free Net Working Capital to Revenue	7.39%	12.72%	9.49%	8.39%	6.21%	9.46%	8.64%	6.70%	5.61%	8.21%
Debt-free Net Working Capital to Revenue	13.61%	14.29%	13.15%	13.03%	13.05%	10.57%	12.26%	12.77%	12.84%	10.79%
Net Working Capital to Revenue	11.06%	10.02%	10.67%	10.51%	10.51%	8.78%	9.58%	10.02%	10.07%	10.79%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$8.45	$5.16	$5.32	$6.51	$8.12	$5.09	$6.05	$6.92	$6.73	$5.37
Adjusted Weighted Average Basic Shares Outstanding	47.21M	46.93M	47.51M	48.13M	49.30M	49.01M	49.62M	50.15M	51.40M	51.13M
Adjusted Diluted Earnings per Share	$8.43	$5.14	$5.30	$6.47	$8.06	$5.07	$6.02	$6.88	$6.67	$5.34
Adjusted Weighted Average Diluted Shares Outstanding	47.40M	47.09M	47.67M	48.38M	49.60M	49.23M	49.85M	50.47M	51.74M	51.42M
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
Adjusted Weighted Average Basic & Diluted Shares Outstanding	45.31M	46.37M	47.11M	47.72M	48.27M	48.56M	49.23M	49.80M	50.20M	50.88M
Normalized Net Operating Profit after Tax (NOPAT)	393	245	252	310	394	250	298	342	339	277
Normalized NOPAT Margin	11.27%	9.67%	9.89%	11.37%	11.09%	10.05%	11.77%	12.98%	10.51%	11.84%
Pre Tax Income Margin	14.86%	12.65%	13.08%	14.96%	14.64%	13.25%	15.66%	17.06%	14.01%	15.51%
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	83.53%	76.57%	77.59%	79.68%	77.13%	94.45%	81.16%	83.52%	72.44%	111.81%

Frequently Asked Questions About Ulta Beauty's Financials

When does Ulta Beauty's financial year end?

According to the most recent income statement we have on file, Ulta Beauty's fiscal year ends in February. Their fiscal year 2025 ended on February 1, 2025.

How has Ulta Beauty's net income changed over the last 9 years?

Ulta Beauty's net income appears to be on an upward trend, with a most recent value of $1.20 billion in 2024, rising from $320.01 million in 2015. The previous period was $1.29 billion in 2023. Check out Ulta Beauty's forecast to explore projected trends and price targets.

What is Ulta Beauty's operating income?

Ulta Beauty's total operating income in 2024 was $1.56 billion, based on the following breakdown:

Total Gross Profit: $4.39 billion
Total Operating Expenses: $2.82 billion

How has Ulta Beauty revenue changed over the last 9 years?

Over the last 9 years, Ulta Beauty's total revenue changed from $3.92 billion in 2015 to $11.30 billion in 2024, a change of 187.9%.

How much debt does Ulta Beauty have?

Ulta Beauty's total liabilities were at $3.51 billion at the end of 2024, a 2.5% increase from 2023, and a 345.8% increase since 2015.

How much cash does Ulta Beauty have?

In the past 9 years, Ulta Beauty's cash and equivalents has ranged from $277.45 million in 2017 to $1.05 billion in 2020, and is currently $703.20 million as of their latest financial filing in 2024.

How has Ulta Beauty's book value per share changed over the last 9 years?

Over the last 9 years, Ulta Beauty's book value per share changed from 22.65 in 2015 to 53.66 in 2024, a change of 136.9%.

Related Companies

This page (NASDAQ:ULTA) was last updated on 5/21/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Ulta Beauty (ULTA) Financials

Frequently Asked Questions About Ulta Beauty's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Ulta Beauty (ULTA) Financials

Annual Income Statements for Ulta Beauty

Quarterly Income Statements for Ulta Beauty

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

Annual Metrics And Ratios for Ulta Beauty

Quarterly Metrics And Ratios for Ulta Beauty

Frequently Asked Questions About Ulta Beauty's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools